Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2017shares | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q2 |
Trading Symbol | COF |
Entity Registrant Name | CAPITAL ONE FINANCIAL CORP |
Entity Central Index Key | 927,628 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 483,692,646 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income: | ||||
Loans, including loans held for sale | $ 5,669 | $ 5,148 | $ 11,295 | $ 10,233 |
Investment securities | 433 | 405 | 849 | 820 |
Other | 26 | 18 | 54 | 35 |
Total interest income | 6,128 | 5,571 | 12,198 | 11,088 |
Interest expense: | ||||
Deposits | 382 | 292 | 735 | 575 |
Securitized debt obligations | 82 | 47 | 151 | 95 |
Senior and subordinated notes | 179 | 111 | 328 | 217 |
Other borrowings | 12 | 28 | 37 | 52 |
Total interest expense | 655 | 478 | 1,251 | 939 |
Net interest income | 5,473 | 5,093 | 10,947 | 10,149 |
Provision for loan, lease and other losses | 1,800 | 1,592 | 3,792 | 3,119 |
Net interest income after provision for credit losses | 3,673 | 3,501 | 7,155 | 7,030 |
Non-interest income: | ||||
Service charges and other customer-related fees | 418 | 393 | 789 | 816 |
Interchange fees, net | 676 | 621 | 1,246 | 1,225 |
Gain (Loss) on Sale of Securities, Net | (4) | 0 | (4) | (8) |
Other | 141 | 147 | 261 | 292 |
Total non-interest income | 1,231 | 1,161 | 2,292 | 2,325 |
Non-interest expense: | ||||
Salaries and associate benefits | 1,383 | 1,279 | 2,854 | 2,549 |
Occupancy and equipment | 474 | 465 | 945 | 923 |
Marketing | 435 | 415 | 831 | 843 |
Professional services | 279 | 264 | 526 | 505 |
Communications and data processing | 289 | 302 | 577 | 582 |
Amortization of intangibles | 61 | 95 | 123 | 196 |
Other | 493 | 475 | 992 | 920 |
Total non-interest expense | 3,414 | 3,295 | 6,848 | 6,518 |
Income from continuing operations before income taxes | 1,490 | 1,367 | 2,599 | 2,837 |
Income tax provision | 443 | 424 | 757 | 876 |
Income from continuing operations, net of tax | 1,047 | 943 | 1,842 | 1,961 |
Income (loss) from discontinued operations, net of tax | (11) | (1) | 4 | (6) |
Net income | 1,036 | 942 | 1,846 | 1,955 |
Dividends and undistributed earnings allocated to participating securities | (8) | (6) | (13) | (12) |
Preferred stock dividends | (80) | (65) | (133) | (102) |
Net income available to common stockholders | $ 948 | $ 871 | $ 1,700 | $ 1,841 |
Basic earnings per common share: | ||||
Net income from continuing operations (in dollars per share) | $ 1.98 | $ 1.70 | $ 3.51 | $ 3.57 |
Income (loss) from discontinued operations (in dollars per share) | (0.02) | 0 | 0.01 | (0.01) |
Net income per basic common share (in dollars per share) | 1.96 | 1.70 | 3.52 | 3.56 |
Diluted earnings per common share: | ||||
Net income from continuing operations (in dollars per share) | 1.96 | 1.69 | 3.48 | 3.53 |
Income (loss) from discontinued operations (in dollars per share) | (0.02) | 0 | 0.01 | (0.01) |
Net income per diluted common share (in dollars per share) | 1.94 | 1.69 | 3.49 | 3.52 |
Dividends paid per common share (in dollars per share) | $ 0.40 | $ 0.40 | $ 0.80 | $ 0.80 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,036 | $ 942 | $ 1,846 | $ 1,955 |
After Tax | ||||
Net unrealized gains (losses) on securities available for sale | 149 | 136 | 185 | 323 |
Net changes in securities held to maturity | 23 | 25 | 46 | 46 |
Net unrealized gains (losses) on cash flow hedges | 45 | 143 | (21) | 520 |
Foreign currency translation adjustments | 31 | (30) | 48 | (29) |
Other | 3 | 8 | 8 | (3) |
Other comprehensive income (loss), net of tax | 251 | 282 | 266 | 857 |
Comprehensive income | $ 1,287 | $ 1,224 | $ 2,112 | $ 2,812 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 3,352 | $ 4,185 |
Interest-bearing deposits and other short-term investments | 3,363 | 5,791 |
Total cash and cash equivalents | 6,715 | 9,976 |
Restricted cash for securitization investors | 300 | 2,517 |
Securities available for sale, at fair value | 41,120 | 40,737 |
Securities held to maturity, at carrying value | 27,720 | 25,712 |
Loans held for investment: | ||
Total loans held for investment | 244,302 | 245,586 |
Allowance for loan and lease losses | (7,170) | (6,503) |
Net loans held for investment | 237,132 | 239,083 |
Loans held for sale, at lower of cost or fair value | 777 | 1,043 |
Premises and equipment, net | 3,825 | 3,675 |
Interest receivable | 1,346 | 1,351 |
Goodwill | 14,524 | 14,519 |
Other assets | 17,134 | 18,420 |
Total assets | 350,593 | 357,033 |
Liabilities: | ||
Interest payable | 376 | 327 |
Deposits: | ||
Non-interest-bearing deposits | 25,953 | 25,502 |
Interest-bearing deposits | 213,810 | 211,266 |
Total deposits | 239,763 | 236,768 |
Securitized debt obligations | 18,358 | 18,826 |
Other debt: | ||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 958 | 992 |
Senior and subordinated notes | 28,478 | 23,431 |
Other borrowings | 2,160 | 17,211 |
Total other debt | 31,596 | 41,634 |
Other liabilities | 11,363 | 11,964 |
Total liabilities | 301,456 | 309,519 |
Stockholders’ equity: | ||
Preferred stock (par value $.01 per share; 50,000,000 shares authorized; 4,475,000 shares issued and outstanding as of both June 30, 2017 and December 31, 2016) | 0 | 0 |
Common stock (par value $.01 per share; 1,000,000,000 shares authorized; 659,656,040 and 653,736,607 shares issued as of June 30, 2017 and December 31, 2016, respectively, 483,692,646 and 480,218,547 shares outstanding as of June 30, 2017 and December 31, 2016, respectively) | 7 | 7 |
Additional paid-in capital, net | 31,413 | 31,157 |
Retained earnings | 31,086 | 29,766 |
Accumulated other comprehensive loss | (683) | (949) |
Treasury stock, at cost (par value $.01 per share; 175,963,394 and 173,518,060 shares as of June 30, 2017 and December 31, 2016, respectively) | (12,686) | (12,467) |
Total stockholders’ equity | 49,137 | 47,514 |
Total liabilities and stockholders’ equity | 350,593 | 357,033 |
Unsecuritized loans held for investment | ||
Loans held for investment: | ||
Total loans held for investment | 214,864 | 213,824 |
Loans held in consolidated trusts | ||
Loans held for investment: | ||
Total loans held for investment | $ 29,438 | $ 31,762 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 4,475,000 | 4,475,000 |
Preferred stock, shares outstanding | 4,475,000 | 4,475,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 659,656,040 | 653,736,607 |
Common stock, shares outstanding | 483,692,646 | 480,218,547 |
Treasury stock, common, shares | 175,963,394 | 173,518,060 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 6 months ended Jun. 30, 2017 - USD ($) $ in Millions | Total | Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Beginning balance at Dec. 31, 2016 | $ 47,514 | $ 0 | $ 7 | $ 31,157 | $ 29,766 | $ (949) | $ (12,467) |
Beginning balance (shares) at Dec. 31, 2016 | 4,475,000 | 653,736,607 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Comprehensive income | 2,112 | 1,846 | 266 | ||||
Common Stock Dividends, Shares | 32,577 | ||||||
Dividends, Common Stock | (390) | $ 0 | (393) | ||||
Dividends, Share-based Compensation, Stock | 3 | ||||||
Cash dividends - preferred series | (133) | (133) | |||||
Purchases of treasury stock | (219) | (219) | |||||
Issuances of common stock and restricted stock, shares, net of forfeitures | 2,958,569 | ||||||
Issuances of common stock and restricted stock, value, net of forfeitures | 79 | $ 0 | 79 | ||||
Exercise of stock options and warrants, tax effects of exercises and restricted stock vesting, shares | 2,928,287 | ||||||
Exercise of stock options and warrants, tax effects of exercises and restricted stock vesting, value | 81 | $ 0 | 81 | ||||
Compensation expense for restricted stock awards, restricted stock units and stock options | 93 | 93 | |||||
Ending balance at Jun. 30, 2017 | $ 49,137 | $ 0 | $ 7 | $ 31,413 | $ 31,086 | $ (683) | $ (12,686) |
Ending balance (shares) at Jun. 30, 2017 | 4,475,000 | 659,656,040 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating activities: | ||
Income from continuing operations, net of tax | $ 1,842 | $ 1,961 |
Income (loss) from discontinued operations, net of tax | 4 | (6) |
Net income | 1,846 | 1,955 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan, lease and other losses | 3,792 | 3,119 |
Depreciation and amortization, net | 1,131 | 1,207 |
Deferred tax benefit | (235) | (377) |
Net (gain) loss on sales of securities available for sale | 0 | (2) |
Impairment losses on securities available for sale | 4 | 10 |
Gain on sales of loans held for sale | (19) | (57) |
Stock plan compensation expense | 111 | 90 |
Other | 0 | (10) |
Loans held for sale: | ||
Originations and purchases | (3,834) | (3,264) |
Proceeds from sales and paydowns | 4,123 | 3,133 |
Changes in operating assets and liabilities: | ||
Changes in interest receivable | 5 | (48) |
Changes in other assets | 1,314 | 42 |
Changes in interest payable | 49 | 2 |
Changes in other liabilities | (1,264) | 754 |
Net change from discontinued operations | 0 | 14 |
Net cash from operating activities | 7,023 | 6,568 |
Securities available for sale: | ||
Purchases | (6,479) | (6,887) |
Proceeds from paydowns and maturities | 3,604 | 3,737 |
Proceeds from sales | 3,123 | 2,699 |
Securities held to maturity: | ||
Purchases | (2,893) | (1,612) |
Proceeds from paydowns and maturities | 1,183 | 1,109 |
Loans: | ||
Net changes in loans held for investment | (3,019) | (8,271) |
Principal recoveries of loans previously charged off | 965 | 757 |
Purchases of premises and equipment | (483) | (324) |
Net cash from other investing activities | (296) | (126) |
Net cash from investing activities | (4,295) | (8,918) |
Financing activities: | ||
Changes in deposits | 2,964 | 3,331 |
Proceeds from Issuance of Secured Debt | 2,991 | 1,920 |
Maturities and paydowns of securitized debt obligations | (3,483) | (2,044) |
Issuance of senior and subordinated notes and long-term FHLB advances | 11,865 | 14,950 |
Maturities and paydowns of senior and subordinated notes and long-term FHLB advances | (21,940) | (15,401) |
Changes in other borrowings | (21) | 18 |
Common stock: | ||
Net proceeds from issuances | 79 | 64 |
Dividends paid | (390) | (416) |
Preferred stock: | ||
Dividends paid | (133) | (102) |
Purchases of treasury stock | (219) | (1,599) |
Proceeds from share-based payment activities | 81 | 3 |
Net cash from financing activities | (8,206) | 724 |
Changes in cash, cash equivalents and restricted cash for securitization investors | (5,478) | (1,626) |
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period | 12,493 | 9,040 |
Cash, cash equivalents and restricted cash for securitization investors, ending of the period | 7,015 | 7,414 |
Non-cash item: | ||
Net transfers from loans held for investment to loans held for sale | 265 | 435 |
Interest paid | 1,269 | 937 |
Income tax paid | $ 467 | $ 1,072 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company Capital One Financial Corporation, a Delaware Corporation established in 1994 and headquartered in McLean, Virginia, is a diversified financial services holding company with banking and non-banking subsidiaries. Capital One Financial Corporation and its subsidiaries (the “Company”) offer a broad array of financial products and services to consumers, small businesses and commercial clients through branches, the internet and other distribution channels. As of June 30, 2017 , our principal subsidiaries included: • Capital One Bank (USA), National Association (“COBNA”), which offers credit and debit card products, other lending products and deposit products; and • Capital One, National Association (“CONA”), which offers a broad spectrum of banking products and financial services to consumers, small businesses and commercial clients. The Company is hereafter collectively referred to as “we,” “us” or “our.” COBNA and CONA are collectively referred to as the “Banks.” We also offer products outside of the United States of America (“U.S.”) principally through Capital One (Europe) plc (“COEP”), an indirect subsidiary of COBNA organized and located in the United Kingdom (“U.K.”), and through a branch of COBNA in Canada. COEP has authority, among other things, to provide credit card loans. Our branch of COBNA in Canada also has the authority to provide credit card loans. Our principal operations are currently organized for management reporting purposes into three major business segments, which are defined based on the products and services provided or the type of customer served: Credit Card, Consumer Banking and Commercial Banking. We provide details on our business segments, the integration of recent acquisitions, if any, into our business segments and the allocation methodologies and accounting policies used to derive our business segment results in “ Note 13—Business Segments .” Basis of Presentation and Use of Estimates The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. While management makes its best judgment, actual amounts or results could differ from these estimates. In the opinion of management, all normal, recurring adjustments have been included for a fair statement of this interim financial information. Certain prior period amounts have been reclassified to conform to the current period presentation. Principles of Consolidation The unaudited consolidated financial statements include the accounts of Capital One Financial Corporation and all other entities in which we have a controlling financial interest. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity (“VIE”). All significant intercompany account balances and transactions have been eliminated. Loans Charge-Offs In the second quarter of 2017, we implemented changes in accounting estimate impacting our charge-off practices for the treatment of certain loans within our consumer banking loan portfolio . This includes changes to the charge-off timing of auto and home loans where the borrower has filed for bankruptcy and the loans have not been reaffirmed, which are now charged off in the period that the loan is 60 days from the bankruptcy notification date. Newly Adopted Accounting Standards Restricted Cash In November 2016 , the Financial Accounting Standards Board (“FASB”) issued revised guidance that requires restricted cash and restricted cash equivalents to be included within beginning and ending total cash amounts reported in the consolidated statements of cash flows. Disclosure of the nature of the restrictions on cash balances is required under the guidance. We have elected to early adopt the guidance retrospectively effective as of January 1, 2017. Upon adoption, changes in restricted cash, which had previously been presented as financing activities, are now included within beginning and ending Cash, cash equivalents and restricted cash for securitization investors balances. The Cash, cash equivalents and restricted cash for securitization investors balances presented in the consolidated statements of cash flows are comprised of the amounts captioned on the consolidated balance sheets as Total cash and cash equivalents and Restricted cash for securitization investors. Improvements to Employee Share-Based Accounting In March 2016, the FASB issued revised guidance for accounting for employee share-based payments. The guidance requires that all excess tax benefits and tax deficiencies that pertain to employee stock-based incentive payments be recognized as income tax expense or benefit in the consolidated statements of income, rather than within additional paid-in capital; and that excess tax benefits be classified as an operating activity rather than financing activity in the consolidated statements of cash flows. The guidance also permits an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. We adopted the guidance effective in the first quarter of 2017 on a prospective basis related to recognition of excess tax benefits and deficiencies in the consolidated statements of income and presentation of excess tax benefits in the consolidated statements of cash flows. In addition, we made an accounting policy election to account for forfeitures of awards as they occur and applied a modified retrospective transition method. Our adoption of this guidance did not have a material impact to our consolidated financial statements. Recently Issued but Not Yet Adopted Accounting Standards Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued revised guidance to shorten the amortization period to the earliest call date for certain purchased callable debt securities held at a premium. There is no change for accounting for securities held at a discount. Under the existing guidance, the premium is generally amortized as an adjustment to interest income over the contractual life of the debt security. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. This guidance is effective for us on January 1, 2019, with early adoption permitted, through a modified retrospective method. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued revised guidance which is intended to reduce the cost and complexity of testing goodwill for impairment by eliminating the second step from the current goodwill impairment test. Under the existing guidance, step one compares an entity’s reporting unit’s carrying value to its fair value. If the carrying value exceeds fair value, an entity then performs step two, which assigns the fair value across its assets and liabilities, including unrecognized assets and liabilities, following a procedure required in purchase accounting. Under the new guidance, the impairment to a reporting unit’s goodwill is determined based on the amount by which the reporting unit’s carrying value exceeds its fair value, limited to the amount of goodwill allocated to the reporting unit. This impairment method applies to all reporting units, including those with zero or negative carrying amounts of net assets. The guidance is effective for us on January 1, 2020, with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We plan to adopt the standard on its effective date. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued revised guidance for impairments on financial instruments. The guidance requires an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected rather than incurred losses, with an anticipated result of more timely loss recognition. The CECL model is applicable to financial assets measured at amortized cost, lease receivables and certain off-balance sheet arrangements. The CECL model will replace our current accounting for purchased credit-impaired (“PCI”) and impaired loans. The guidance also amends the available for sale (“AFS”) debt securities other-than-temporary impairment (“OTTI”) model. Credit losses (and subsequent recoveries) on AFS debt securities will be recorded through an allowance approach, rather than the current U.S. GAAP practice of permanent write-downs for credit losses and accreting positive changes through interest income over time. This guidance will be effective for us on January 1, 2020, with early adoption permitted no earlier than January 1, 2019. We are currently assessing the potential impact on our consolidated financial statements; however, due to the significant differences in the revised guidance from existing GAAP, the implementation of this guidance may result in material changes in our accounting for credit losses on financial instruments. Leases In February 2016, the FASB issued revised guidance for leases. The guidance requires lessees to recognize right of use assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements for all leases, with certain practical expedients. This will be effective for us on January 1, 2019, with early adoption permitted. We plan to adopt the standard on the effective date. We are currently assessing the potential impact on our consolidated financial statements; however, we expect our total assets and liabilities on our consolidated balance sheet to increase. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued revised guidance for the recognition, measurement, presentation, and disclosure of financial instruments. The main provisions of the guidance include, (i) most equity investments are to be measured at fair value and recorded through net income, except those accounted for under the equity method of accounting, or those that do not have a readily determinable fair value (for which a practical expedient can be elected); (ii) the use of the exit price notion is required when valuing financial instruments for disclosure purposes; (iii) an entity shall present separately in other comprehensive income the portion of the total change in the fair value of a liability under fair value option resulting from a change in the instrument-specific credit risk; (iv) the determination of the need for a valuation allowance on a deferred tax asset related to available-for-sale securities must be made in combination with other deferred tax assets. The guidance eliminates the current classifications of equity securities as trading or available-for-sale and will require separate presentation of financial assets and liabilities by category and form of the financial assets on the face of the consolidated balance sheets or within the accompanying notes. The guidance also eliminates the requirement to disclose the methods and significant assumptions used to estimate fair value of financial instruments measured at amortized cost on the balance sheet. The guidance will be effective January 1, 2018. Early adoption is only permitted for the requirement to present the portion of the total change in fair value attributable to a change in the instrument-specific credit risk in other comprehensive income. We plan on adopting the guidance effective January 1, 2018, and do not expect the guidance to have a material impact on our consolidated financial statements. Revenue from Contracts with Customers In May 2014, the FASB issued revised guidance for the recognition, measurement and disclosure of revenue from contracts with customers. The original guidance has been amended through subsequent accounting standard updates that resulted in technical corrections, improvements, and a one-year deferral of the effective date to January 1, 2018. The guidance, as amended, is applicable to all entities and, once effective, will replace significant portions of existing industry and transaction-specific revenue recognition rules with a more principles-based recognition model. Entities can elect to adopt the guidance either on a full or modified retrospective basis. Most revenue associated with financial instruments, including interest income, loan origination fees and credit card fees, is outside the scope of the guidance. Gains and losses on investment securities, derivatives and sales of financial instruments are similarly excluded from the scope. Our implementation efforts have included identifying revenues and related costs within the scope of this guidance, reviewing the associated contracts and evaluating the related accounting policies and internal controls to determine if any changes will be required. Efforts to evaluate the effect of this guidance, assess changes in our disclosures required by this guidance and consider the adoption methods are ongoing. We have not identified any material changes in the timing of recognition of revenues or expenses. We are still evaluating some changes to the income statement classification of certain credit card-related expenses. We plan to adopt this guidance on the effective date. |
Discontinued Operations
Discontinued Operations | 6 Months Ended |
Jun. 30, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | NOTE 2—DISCONTINUED OPERATIONS Our discontinued operations consist of the mortgage origination operations of our wholesale mortgage banking unit, GreenPoint Mortgage Funding, Inc. (“GreenPoint”) and the manufactured housing operations of GreenPoint Credit, LLC, a subsidiary of GreenPoint, both of which were acquired as part of the North Fork Bancorporation, Inc. (“North Fork”) acquisition in December 2006. Although the manufactured housing operations were sold to a third party in 2004 prior to our acquisition of North Fork, we acquired certain retained interests and obligations related to those operations as part of the acquisition. Separately, in the third quarter of 2007 we closed the mortgage origination operations of the wholesale mortgage banking unit. The results of both the wholesale banking unit and the manufactured housing operations have been accounted for as discontinued operations and are reported as income or loss from discontinued operations, net of tax, on the consolidated statements of income. We have no significant continuing involvement in these operations. The following table summarizes the results from discontinued operations for the three and six months ended June 30, 2017 and 2016 : Table 2.1 : Results of Discontinued Operations Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Income (loss) from discontinued operations before income taxes $ (17 ) $ (2 ) $ 7 $ (10 ) Income tax provision (benefit) (6 ) (1 ) 3 (4 ) Income (loss) from discontinued operations, net of tax $ (11 ) $ (1 ) $ 4 $ (6 ) The discontinued mortgage origination operations of our wholesale mortgage banking unit have remaining assets primarily consisting of a deferred tax asset related to the reserve for representations and warranties on loans previously sold to third parties. We also have contingent obligations to exercise certain mandatory clean-up calls associated with securitization transactions undertaken by the discontinued GreenPoint Credit, LLC manufactured housing operations in the event the third-party servicer does not fulfill its obligation to exercise these clean-up calls. See “ Note 6—Variable Interest Entities and Securitizations ” and “ Note 14—Commitments, Contingencies, Guarantees and Others ” for information on the reserve related to our retained interests and obligations associated with GreenPoint Credit, LLC manufactured housing operations and the reserves we have established for our mortgage representation and warranty exposure. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | NOTE 3—INVESTMENT SECURITIES Our investment portfolio consists primarily of the following: U.S. Treasury securities; U.S. government-sponsored enterprise or agency (“Agency”) and non-agency residential mortgage-backed securities (“RMBS”); Agency and non-agency commercial mortgage-backed securities (“CMBS”); other asset-backed securities (“ABS”); and other securities. The carrying value of our investments in U.S. Treasury and Agency securities represented 91% of our total investment securities as of both June 30, 2017 and December 31, 2016 . The table below presents the overview of our investment securities portfolio as of June 30, 2017 and December 31, 2016 . Table 3.1 : Overview of Investment Securities Portfolio (Dollars in millions) June 30, 2017 December 31, 2016 Securities available for sale, at fair value $ 41,120 $ 40,737 Securities held to maturity, at carrying value 27,720 25,712 Total investment securities $ 68,840 $ 66,449 The table below presents the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of June 30, 2017 and December 31, 2016 . Table 3.2 : Investment Securities Available for Sale June 30, 2017 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,218 $ 27 $ (30 ) $ 5,215 RMBS: Agency (2) 26,693 110 (292 ) 26,511 Non-agency 2,163 458 (4 ) 2,617 Total RMBS 28,856 568 (296 ) 29,128 CMBS: Agency (2) 3,136 19 (31 ) 3,124 Non-agency 1,777 28 (3 ) 1,802 Total CMBS 4,913 47 (34 ) 4,926 Other ABS (3) 626 1 0 627 Other securities (4) 1,220 4 0 1,224 Total investment securities available for sale $ 40,833 $ 647 $ (360 ) $ 41,120 December 31, 2016 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,103 $ 11 $ (49 ) $ 5,065 RMBS: Agency (2) 26,830 109 (412 ) 26,527 Non-agency 2,349 382 (9 ) 2,722 Total RMBS 29,179 491 (421 ) 29,249 CMBS: Agency (2) 3,335 14 (45 ) 3,304 Non-agency 1,676 21 (13 ) 1,684 Total CMBS 5,011 35 (58 ) 4,988 Other ABS (3) 714 1 (1 ) 714 Other securities (4) 726 1 (6 ) 721 Total investment securities available for sale $ 40,733 $ 539 $ (535 ) $ 40,737 __________ (1) Includes non-credit-related OTTI that is recorded in accumulated other comprehensive income (“AOCI”) of $4 million and $9 million as of June 30, 2017 and December 31, 2016 , respectively. Substantially all of this amount is related to non-agency RMBS. (2) Includes Government National Mortgage Association (“Ginnie Mae”) guaranteed securities, Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) issued securities. (3) ABS collateralized by credit card loans constituted approximately 49% and 57% of the other ABS portfolio as of June 30, 2017 and December 31, 2016 , respectively, and ABS collateralized by auto dealer floor plan inventory loans and leases constituted approximately 23% of the other ABS portfolio as of both June 30, 2017 and December 31, 2016 . (4) Includes supranational bonds, foreign government bonds, mutual funds and equity investments. The table below presents the amortized cost, carrying value, gross unrealized gains and losses, and fair value of securities held to maturity as of June 30, 2017 and December 31, 2016 . Table 3.3 : Investment Securities Held to Maturity June 30, 2017 (Dollars in millions) Amortized Cost Unrealized Losses Recorded in AOCI (1) Carrying Value Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 199 $ 0 $ 199 $ 0 $ 0 $ 199 Agency RMBS 24,741 (831 ) 23,910 724 (97 ) 24,537 Agency CMBS 3,696 (85 ) 3,611 101 (25 ) 3,687 Total investment securities held to maturity $ 28,636 $ (916 ) $ 27,720 $ 825 $ (122 ) $ 28,423 December 31, 2016 (Dollars in millions) Amortized Cost Unrealized Losses Recorded in AOCI (1) Carrying Value Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 199 $ 0 $ 199 $ 0 $ 0 $ 199 Agency RMBS 23,022 (897 ) 22,125 606 (158 ) 22,573 Agency CMBS 3,480 (92 ) 3,388 77 (41 ) 3,424 Total investment securities held to maturity $ 26,701 $ (989 ) $ 25,712 $ 683 $ (199 ) $ 26,196 __________ (1) Certain investment securities were transferred from the available for sale category to the held to maturity category in 2013. This amount represents the unrealized holding gain or loss at the date of transfer, net of any subsequent accretion. Any bonds purchased into the securities held to maturity portfolio rather than transferred, will not have unrealized losses recognized in AOCI. Investment Securities in a Gross Unrealized Loss Position The table below provides, by major security type, information about our securities available for sale in a gross unrealized loss position and the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2017 and December 31, 2016 . Table 3.4 : Securities in a Gross Unrealized Loss Position June 30, 2017 Less than 12 Months 12 Months or Longer Total (Dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Investment securities available for sale: U.S. Treasury securities $ 1,079 $ (30 ) $ 0 $ 0 $ 1,079 $ (30 ) RMBS: Agency 14,491 (211 ) 4,845 (81 ) 19,336 (292 ) Non-agency 12 0 49 (4 ) 61 (4 ) Total RMBS 14,503 (211 ) 4,894 (85 ) 19,397 (296 ) CMBS: Agency 977 (9 ) 833 (22 ) 1,810 (31 ) Non-agency 374 (3 ) 61 0 435 (3 ) Total CMBS 1,351 (12 ) 894 (22 ) 2,245 (34 ) Other ABS 113 0 17 0 130 0 Other securities 355 0 0 0 355 0 Total investment securities available for sale in a gross unrealized loss position $ 17,401 $ (253 ) $ 5,805 $ (107 ) $ 23,206 $ (360 ) December 31, 2016 Less than 12 Months 12 Months or Longer Total (Dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Investment securities available for sale: U.S. Treasury securities $ 1,060 $ (49 ) $ 0 $ 0 $ 1,060 $ (49 ) RMBS: Agency 16,899 (329 ) 4,865 (83 ) 21,764 (412 ) Non-agency 128 (2 ) 145 (7 ) 273 (9 ) Total RMBS 17,027 (331 ) 5,010 (90 ) 22,037 (421 ) CMBS: Agency 1,624 (21 ) 745 (24 ) 2,369 (45 ) Non-agency 826 (11 ) 129 (2 ) 955 (13 ) Total CMBS 2,450 (32 ) 874 (26 ) 3,324 (58 ) Other ABS 187 (1 ) 21 0 208 (1 ) Other securities 417 (6 ) 0 0 417 (6 ) Total investment securities available for sale in a gross unrealized loss position $ 21,141 $ (419 ) $ 5,905 $ (116 ) $ 27,046 $ (535 ) As of June 30, 2017 , the amortized cost of approximately 750 securities available for sale exceeded their fair value by $360 million , of which $107 million related to securities that had been in a loss position for 12 months or longer. As of June 30, 2017 , our investments in non-agency RMBS and CMBS, other ABS and other securities accounted for $7 million , or 2% , of total gross unrealized losses on securities available for sale. As of June 30, 2017 , the carrying value of approximately 150 securities classified as held to maturity exceeded their fair value by $122 million . The unrealized losses related to investment securities for which we have not recognized credit impairment were primarily attributable to changes in market interest rates. As discussed in more detail below, we conduct periodic reviews of all investment securities with unrealized losses to assess whether impairment is other-than-temporary. Maturities and Yields of Investment Securities The following tables summarize the remaining scheduled contractual maturities, assuming no prepayments, of our investment securities as of June 30, 2017 . Table 3.5 : Contractual Maturities of Securities Available for Sale June 30, 2017 (Dollars in millions) Amortized Cost Fair Value Due in 1 year or less $ 707 $ 709 Due after 1 year through 5 years 3,159 3,192 Due after 5 years through 10 years 6,572 6,584 Due after 10 years (1) 30,395 30,635 Total $ 40,833 $ 41,120 __________ (1) Investments with no stated maturities, which consist of equity securities, are included with contractual maturities due after 10 years. Table 3.6 : Contractual Maturities of Securities Held to Maturity June 30, 2017 (Dollars in millions) Carrying Value Fair Value Due in 1 year or less $ 199 $ 199 Due after 1 year through 5 years 418 441 Due after 5 years through 10 years 942 987 Due after 10 years 26,161 26,796 Total $ 27,720 $ 28,423 Because borrowers may have the right to call or prepay certain obligations, the expected maturities of our securities are likely to differ from the scheduled contractual maturities presented above. The table below summarizes, by major security type, the expected maturities and weighted-average yields of our investment securities as of June 30, 2017 . Table 3.7 : Expected Maturities and Weighted-Average Yields of Securities June 30, 2017 (Dollars in millions) Due in 1 Year or Less Due > 1 Year through 5 Years Due > 5 Years through 10 Years Due > 10 Years Total Fair value of securities available for sale: U.S. Treasury securities $ 102 $ 847 $ 4,266 $ 0 $ 5,215 RMBS: Agency 177 11,743 14,591 0 26,511 Non-agency 18 1,036 1,268 295 2,617 Total RMBS 195 12,779 15,859 295 29,128 CMBS: Agency 130 1,544 1,450 0 3,124 Non-agency 179 1,064 559 0 1,802 Total CMBS 309 2,608 2,009 0 4,926 Other ABS 348 272 7 0 627 Other securities 216 562 103 343 1,224 Total securities available for sale $ 1,170 $ 17,068 $ 22,244 $ 638 $ 41,120 Amortized cost of securities available for sale $ 1,169 $ 16,884 $ 22,186 $ 594 $ 40,833 Weighted-average yield for securities available for sale (1) 1.36 % 2.45 % 2.45 % 4.96 % 2.45 % Carrying value of securities held to maturity: U.S. Treasury securities $ 199 $ 0 $ 0 $ 0 $ 199 Agency RMBS 28 1,608 17,865 4,409 23,910 Agency CMBS 0 819 1,743 1,049 3,611 Total securities held to maturity $ 227 $ 2,427 $ 19,608 $ 5,458 $ 27,720 Fair value of securities held to maturity $ 225 $ 2,501 $ 20,092 $ 5,605 $ 28,423 Weighted-average yield for securities held to maturity (1) 0.60 % 2.57 % 2.68 % 3.36 % 2.78 % __________ (1) The weighted-average yield represents the effective yield for the investment securities and is calculated based on the amortized cost of each security. Other-Than-Temporary Impairment We evaluate all securities in an unrealized loss position at least on a quarterly basis, and more often as market conditions require, to assess whether the impairment is other-than-temporary. Our OTTI assessment is based on a discounted cash flow analysis which requires careful use of judgments and assumptions. A number of qualitative and quantitative criteria may be considered in our assessment as applicable, including the size and the nature of the portfolio; historical and projected performance such as prepayment, default and loss severity for the RMBS portfolio; recent credit events specific to the issuer and/or industry to which the issuer belongs; the payment structure of the security; external credit ratings of the issuer and any failure or delay of the issuer to make scheduled interest or principal payments; the value of underlying collateral; our intent and ability to hold the security; and current and projected market and macro-economic conditions. If we intend to sell a security in an unrealized loss position or it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis, the entire difference between the amortized cost basis of the security and its fair value is recognized in earnings. As of June 30, 2017 , for any securities with unrealized losses recorded in AOCI, we do not intend to sell, nor believe that we will be required to sell, these securities prior to recovery of their amortized cost. For those securities that we do not intend to sell nor expect to be required to sell, an analysis is performed to determine if any of the impairment is due to credit-related factors or whether it is due to other factors, such as interest rates. Credit-related impairment is recognized in earnings, with the remaining unrealized non-credit-related impairment recorded in AOCI. We determine the credit component based on the difference between the security’s amortized cost basis and the present value of its expected cash flows, discounted based on the effective yield. The table below presents a rollforward of the credit-related OTTI recognized in earnings for the three and six months ended June 30, 2017 and 2016 on investment securities for which we had no intent to sell. Table 3.8 : Credit Impairment Rollforward Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Credit loss component, beginning of period $ 206 $ 204 $ 207 $ 199 Additions: Initial credit impairment 0 1 0 1 Subsequent credit impairment 1 1 1 7 Total additions 1 2 1 8 Reductions due to payoffs, disposals, transfers and other 0 (2 ) (1 ) (3 ) Credit loss component, end of period $ 207 $ 204 $ 207 $ 204 Realized Gains and Losses on Securities and OTTI Recognized in Earnings The following table presents the gross realized gains and losses on the sale and redemption of securities available for sale, and the OTTI losses recognized in earnings for the three and six months ended June 30, 2017 and 2016 . We also present the proceeds from the sale of securities available for sale for the periods presented. We did not sell any investment securities that are classified as held to maturity. Table 3.9 : Realized Gains and Losses and OTTI Recognized in Earnings Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Realized gains (losses): Gross realized gains $ 0 $ 3 $ 5 $ 6 Gross realized losses 0 (1 ) (5 ) (4 ) Net realized gains 0 2 0 2 OTTI recognized in earnings: Credit-related OTTI (1 ) (2 ) (1 ) (8 ) Intent-to-sell OTTI (3 ) 0 (3 ) (2 ) Total OTTI recognized in earnings (4 ) (2 ) (4 ) (10 ) Net securities gains (losses) $ (4 ) $ 0 $ (4 ) $ (8 ) Total proceeds from sales $ 235 $ 776 $ 3,123 $ 2,699 Securities Pledged and Received As part of our liquidity management strategy, we pledge securities to secure borrowings from counterparties including the Federal Home Loan Banks (“FHLB”). We also pledge securities to secure trust and public deposits and for other purposes as required or permitted by law. We pledged securities available for sale with a fair value of $1.6 billion and $1.9 billion as of June 30, 2017 and December 31, 2016 , respectively. We also pledged securities held to maturity with a carrying value of $8.2 billion and $8.1 billion as of June 30, 2017 and December 31, 2016 , respectively. Of the total securities pledged as collateral, we have encumbered a fair value of $9.2 billion and $9.3 billion as of June 30, 2017 and December 31, 2016 , respectively, primarily related to Public Fund deposits. We accepted pledges of securities with a fair value of $1 million and $16 million as of June 30, 2017 and December 31, 2016 , respectively, primarily related to our derivative transactions. Purchased Credit-Impaired Debt Securities The table below presents the outstanding balance and carrying value of the purchased credit-impaired debt securities as of June 30, 2017 and December 31, 2016 . Table 3.10 : Outstanding Balance and Carrying Value of Acquired Credit-Impaired Debt Securities (Dollars in millions) June 30, 2017 December 31, 2016 Outstanding balance $ 2,669 $ 2,899 Carrying value 2,221 2,277 Changes in Accretable Yield of Purchased Credit-Impaired Debt Securities The following table presents changes in the accretable yield related to the purchased credit-impaired debt securities for the three and six months ended June 30, 2017 . Table 3.11 : Changes in the Accretable Yield of Purchased Credit-Impaired Debt Securities (Dollars in millions) Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Accretable yield, beginning of period $ 1,118 $ 1,173 Accretion recognized in earnings (49 ) (98 ) Reduction due to payoffs, disposals, transfers and other 1 (3 ) Net reclassifications from nonaccretable difference 23 21 Accretable yield, end of period $ 1,093 $ 1,093 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans | NOTE 4—LOANS Loan Portfolio Composition Our loan portfolio consists of loans held for investment, including loans held in our consolidated trusts, and loans held for sale, and is divided into three portfolio segments: credit card, consumer banking and commercial banking. Credit card loans consist of domestic and international credit card loans. Consumer banking loans consist of auto, home and retail banking loans. Commercial banking loans consist of commercial and multifamily real estate, commercial and industrial, and small-ticket commercial real estate loans. Our portfolio of loans held for investment also includes certain consumer and commercial loans acquired through business combinations that were recorded at fair value at acquisition and subsequently accounted for based on cash flows expected to be collected, which are referred to as PCI loans. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for additional information on the accounting guidance for these loans. Credit Quality We closely monitor economic conditions and loan performance trends to manage and evaluate our exposure to credit risk. Trends in delinquency rates are an indicator, among other considerations, of credit risk within our loan portfolio. The level of nonperforming loans represents another indicator of the potential for future credit losses. Accordingly, key metrics we track and use in evaluating the credit quality of our loan portfolio include delinquency and nonperforming loan rates, as well as net charge-off rates and our internal risk ratings of larger balance commercial loans. The table below presents the composition and an aging analysis of our loans held for investment portfolio as of June 30, 2017 and December 31, 2016 . The delinquency aging includes all past due loans, both performing and nonperforming. Table 4.1 : Loan Portfolio Composition and Aging Analysis June 30, 2017 (Dollars in millions) Current 30-59 Days 60-89 Days > 90 Days Total Delinquent Loans PCI Loans Total Loans Credit Card: Domestic credit card $ 89,493 $ 1,105 $ 726 $ 1,542 $ 3,373 $ 0 $ 92,866 International card businesses 8,415 121 67 121 309 0 8,724 Total credit card 97,908 1,226 793 1,663 3,682 0 101,590 Consumer Banking: Auto 48,733 1,984 833 215 3,032 0 51,765 Home loan 7,203 34 13 126 173 12,348 19,724 Retail banking 3,421 16 5 19 40 23 3,484 Total consumer banking 59,357 2,034 851 360 3,245 12,371 74,973 Commercial Banking: Commercial and multifamily real estate 27,334 39 0 29 68 26 27,428 Commercial and industrial 39,000 51 14 238 303 498 39,801 Total commercial lending 66,334 90 14 267 371 524 67,229 Small-ticket commercial real estate 434 2 1 6 9 0 443 Total commercial banking 66,768 92 15 273 380 524 67,672 Other loans 59 3 0 5 8 0 67 Total loans (1) $ 224,092 $ 3,355 $ 1,659 $ 2,301 $ 7,315 $ 12,895 $ 244,302 % of Total loans 91.73% 1.37% 0.68% 0.94% 2.99 % 5.28% 100.00 % December 31, 2016 (Dollars in millions) Current 30-59 Days 60-89 Days > 90 Days Total Delinquent Loans PCI Loans Total Loans Credit Card: Domestic credit card $ 93,279 $ 1,153 $ 846 $ 1,840 $ 3,839 $ 2 $ 97,120 International card businesses 8,115 124 72 121 317 0 8,432 Total credit card 101,394 1,277 918 1,961 4,156 2 105,552 Consumer Banking: Auto 44,762 2,041 890 223 3,154 0 47,916 Home loan 6,951 44 20 141 205 14,428 21,584 Retail banking 3,477 22 7 20 49 28 3,554 Total consumer banking 55,190 2,107 917 384 3,408 14,456 73,054 Commercial Banking: Commercial and multifamily real estate 26,536 45 0 0 45 28 26,609 Commercial and industrial 38,831 27 84 297 408 585 39,824 Total commercial lending 65,367 72 84 297 453 613 66,433 Small-ticket commercial real estate 473 7 1 2 10 0 483 Total commercial banking 65,840 79 85 299 463 613 66,916 Other loans 56 3 0 5 8 0 64 Total loans (1) $ 222,480 $ 3,466 $ 1,920 $ 2,649 $ 8,035 $ 15,071 $ 245,586 % of Total loans 90.59% 1.41% 0.78% 1.08% 3.27 % 6.14% 100.00 % __________ (1) Loans (other than PCI loans) include unearned income, unamortized premiums and discounts, and unamortized deferred fees and costs totaling $664 million and $558 million as of June 30, 2017 and December 31, 2016 , respectively. We pledge loan collateral at the FHLB to secure borrowing capacity. As of June 30, 2017 and December 31, 2016 , we pledged loan collateral of $27.1 billion and $29.3 billion to secure borrowing capacity of $21.7 billion and $24.9 billion , respectively. The following table presents the outstanding balance of loans 90 days or more past due that continue to accrue interest and loans classified as nonperforming as of June 30, 2017 and December 31, 2016 . Table 4.2 : 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans (1) June 30, 2017 December 31, 2016 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Credit Card: Domestic credit card $ 1,542 N/A $ 1,840 N/A International card businesses 108 $ 32 96 $ 42 Total credit card 1,650 32 1,936 42 Consumer Banking: Auto 0 273 0 223 Home loan 0 259 0 273 Retail banking 0 33 0 31 Total consumer banking 0 565 0 527 June 30, 2017 December 31, 2016 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Commercial Banking: Commercial and multifamily real estate $ 0 $ 34 $ 0 $ 30 Commercial and industrial 0 643 0 988 Total commercial lending 0 677 0 1,018 Small-ticket commercial real estate 0 9 0 4 Total commercial banking 0 686 0 1,022 Other loans 0 9 0 8 Total $ 1,650 $ 1,292 $ 1,936 $ 1,599 % of Total loans 0.68% 0.53% 0.79% 0.65% __________ (1) Nonperfor ming loans generally include loans that have been placed on nonaccrual status. PCI loans are excluded from loans reported as 90 days or more past due and accruing interest as well as nonperforming loans. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for additional information on our policies for nonperforming loans. Credit Card Our credit card loan portfolio is highly diversified across millions of accounts and numerous geographies without significant individual exposure. We therefore generally manage credit risk based on portfolios with common risk characteristics. The risk in our credit card loan portfolio correlates to broad economic trends, such as unemployment rates and home values, as well as consumers’ financial condition, all of which can have a material effect on credit performance. The primary indicators we assess in monitoring the credit quality and risk of our credit card portfolio are delinquency and charge-off trends, including an analysis of loan migration between delinquency categories over time. The table below displays the geographic profile of our credit card loan portfolio as of June 30, 2017 and December 31, 2016 . Table 4.3 : Credit Card Risk Profile by Geographic Region June 30, 2017 December 31, 2016 (Dollars in millions) Amount % of Total (1) Amount % of Total (1) Domestic credit card: California $ 10,629 10.4% $ 11,068 10.5% Texas 6,980 6.9 7,227 6.8 New York 6,780 6.7 7,090 6.7 Florida 6,269 6.2 6,540 6.2 Illinois 4,271 4.2 4,492 4.3 Pennsylvania 3,822 3.8 4,048 3.8 Ohio 3,436 3.4 3,654 3.5 New Jersey 3,313 3.3 3,488 3.3 Michigan 2,994 2.9 3,164 3.0 Other 44,372 43.6 46,349 43.9 Total domestic credit card 92,866 91.4 97,120 92.0 International card businesses: Canada 5,750 5.7 5,594 5.3 United Kingdom 2,974 2.9 2,838 2.7 Total international card businesses 8,724 8.6 8,432 8.0 Total credit card $ 101,590 100.0% $ 105,552 100.0 % __________ (1) P ercentages by geographic region are calculated based on period-end amounts. The table below presents net charge-offs for the three and six months ended June 30, 2017 and 2016 . Table 4.4 : Credit Card Net Charge-Offs Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in millions) Amount Rate (1) Amount Rate (1) Amount Rate (1) Amount Rate (1) Net charge-offs: (1) Domestic credit card $ 1,172 5.11% $ 874 4.07% $ 2,368 5.12% $ 1,761 4.12% International card businesses 84 4.08 75 3.54 159 3.88 138 3.39 Total credit card $ 1,256 5.02 $ 949 4.02 $ 2,527 5.02 $ 1,899 4.05 __________ (1) Net charge-offs consist of the unpaid principal balance that we determine to be uncollectible, net of recovered amounts. The net charge-off rate is calculated by dividing annualized net charge-offs by average balance of loans held for investment for the period for each loan category. Net charge-offs and the net charge-off rate are impacted periodically by fluctuations in recoveries, including loan sales. Consumer Banking Our consumer banking loan portfolio consists of auto, home and retail banking loans. Similar to our credit card loan portfolio, the risk in our consumer banking loan portfolio correlates to broad economic trends, such as unemployment rates, gross domestic product (“GDP”) and home values, as well as consumers’ financial condition, all of which can have a material effect on credit performance. Delinquency, nonperforming loans and charge-off trends are key indicators we assess in monitoring the credit quality and risk of our consumer banking loan portfolio. The table below displays the geographic profile of our consumer banking loan portfolio, including PCI loans as of June 30, 2017 and December 31, 2016 . Table 4.5 : Consumer Banking Risk Profile by Geographic Region June 30, 2017 December 31, 2016 (Dollars in millions) Amount % of Total (1) Amount % of Total (1) Auto: Texas $ 6,821 9.1% $ 6,304 8.6% California 5,907 7.9 5,448 7.5 Florida 4,334 5.8 3,985 5.5 Georgia 2,657 3.5 2,506 3.4 Louisiana 2,255 3.0 2,159 3.0 Ohio 2,188 2.9 2,017 2.8 Illinois 2,161 2.9 2,065 2.8 Other 25,442 33.9 23,432 32.0 Total auto 51,765 69.0 47,916 65.6 Home loan: California 4,398 5.9 4,993 6.8 New York 2,030 2.7 2,036 2.8 Maryland 1,325 1.8 1,409 1.9 Virginia 1,134 1.5 1,204 1.7 Illinois 1,110 1.5 1,218 1.7 New Jersey 1,041 1.4 1,112 1.5 Louisiana 911 1.2 985 1.3 Other 7,775 10.4 8,627 11.8 Total home loan 19,724 26.4 21,584 29.5 Retail banking: Louisiana 973 1.3 1,010 1.4 New York 936 1.2 941 1.3 Texas 735 1.0 756 1.0 New Jersey 222 0.3 238 0.3 Maryland 185 0.2 190 0.3 Virginia 155 0.2 156 0.2 Other 278 0.4 263 0.4 Total retail banking 3,484 4.6 3,554 4.9 Total consumer banking $ 74,973 100.0% $ 73,054 100.0% __________ (1) Pe rcentages by geographic region are calculated based on period-end amounts. The table below presents nonperforming loans in our consumer banking loan portfolio as of June 30, 2017 and December 31, 2016 , as well as net charge-offs for the three and six months ended June 30, 2017 and 2016 . Table 4.6 : Consumer Banking Net Charge-Offs and Nonperforming Loans (1) Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in millions) Amount Rate (2) Amount Rate (2) Amount Rate (2) Amount Rate (2) Net charge-offs: Auto $ 215 1.70% $ 130 1.20% $ 414 1.67% $ 298 1.39% Home loan (3) 2 0.04 5 0.09 4 0.03 8 0.07 Retail banking 15 1.71 11 1.26 32 1.81 23 1.31 Total consumer banking (3) $ 232 1.25 $ 146 0.83 $ 450 1.22 $ 329 0.93 June 30, 2017 December 31, 2016 (Dollars in millions) Amount Rate (4) Amount Rate (4) Nonperforming loans: Auto $ 273 0.53% $ 223 0.47 % Home loan (5) 259 1.31 273 1.26 Retail banking 33 0.96 31 0.86 Total consumer banking (5) $ 565 0.75 $ 527 0.72 __________ (1) In the second quarter of 2017, we implemented changes in accounting estimate impacting our charge-off practices for the treatment of certain loans within our consumer banking loan portfolio . The Auto net charge-offs amount includes approximately $48 million associated with implementing these changes, with an impact to the net charge-off rate of 38 basis points and 19 basis points for the three and six months ended June 30, 2017, respectively. Excluding this impact, the Auto net charge-off rate in those periods would have been 1.32% and 1.48% , respectively. The impact to the Consumer Banking net charge-off rate was 26 basis points and 13 basis points for the three and six months ended June 30, 2017, respectively. Excluding this impact, the Consumer Banking net charge-off rate in those periods would have been 0.99% and 1.09% , respectively. See “ Note 1—Summary of Significant Accounting Policies ” in this Report for additional information. (2) The net charge-off rate is calculated by dividing annualized net charge-offs by average balance of loans held for investment for the period for each loan category. (3) Excluding the impact of PCI loans, the net charge-off rates for our home loan and total consumer banking portfolios were 0.10% and 1.50% , respectively, for the three months ended June 30, 2017 , compared to 0.31% and 1.09% , respectively, for the three months ended June 30, 2016 ; and 0.09% and 1.48% , respectively, for the six months ended June 30, 2017 , compared to 0.24% and 1.24% , respectively, for the six months ended June 30, 2016 . (4) Nonperforming loan rates are calculated based on nonperforming loans for each category divided by period-end total loans held for investment for each respective category. (5) Excluding the impact of PCI loans, the nonperforming loan rates for our home loan and total consumer banking portfolios were 3.50% and 0.90% , respectively, as of June 30, 2017 , compared to 3.81% and 0.90% , respectively, as of December 31, 2016 . Home Loan Our home loan portfolio consists of both first-lien and second-lien residential mortgage loans. In evaluating the credit quality and risk of our home loan portfolio, we monitor a variety of mortgage loan characteristics that may affect the default experience on this loan portfolio, such as vintage, geographic concentrations, lien priority and product type. Certain loan concentrations have experienced higher delinquency rates as a result of the significant decline in home prices after the peak in 2006 and subsequent rise in unemployment. These loan concentrations include loans originated between 2006 and 2008 in an environment of decreasing home sales, broadly declining home prices and more relaxed underwriting standards. The following table presents the distribution of our home loan portfolio as of June 30, 2017 and December 31, 2016 , based on selected key risk characteristics. Table 4.7 : Home Loan Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type June 30, 2017 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total (2) Amount % of Total (2) Amount % of Total (2) Origination year: (3) < = 2008 $ 1,895 9.6% $ 8,410 42.6% $ 10,305 52.2% 2009 70 0.4 907 4.6 977 5.0 2010 72 0.4 1,280 6.5 1,352 6.9 2011 127 0.6 1,390 7.1 1,517 7.7 2012 795 4.0 209 1.1 1,004 5.1 2013 418 2.1 51 0.3 469 2.4 2014 513 2.6 29 0.1 542 2.7 2015 968 4.9 28 0.1 996 5.0 2016 1,680 8.5 23 0.1 1,703 8.6 2017 838 4.3 21 0.1 859 4.4 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0% Geographic concentration: (4) California $ 992 5.0% $ 3,406 17.3% $ 4,398 22.3% New York 1,412 7.2 618 3.1 2,030 10.3 Maryland 610 3.1 715 3.6 1,325 6.7 Virginia 531 2.7 603 3.1 1,134 5.8 Illinois 136 0.7 974 4.9 1,110 5.6 New Jersey 393 2.0 648 3.3 1,041 5.3 Louisiana 891 4.5 20 0.1 911 4.6 Texas 788 4.0 87 0.4 875 4.4 Florida 169 0.8 661 3.4 830 4.2 Arizona 93 0.5 684 3.5 777 4.0 Other 1,361 6.9 3,932 19.9 5,293 26.8 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0 % Lien type: 1 st lien $ 6,411 32.5% $ 12,102 61.4% $ 18,513 93.9% 2 nd lien 965 4.9 246 1.2 1,211 6.1 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0% Interest rate type: Fixed rate $ 3,645 18.5% $ 1,700 8.6% $ 5,345 27.1% Adjustable rate 3,731 18.9 10,648 54.0 14,379 72.9 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0% December 31, 2016 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total (2) Amount % of Total (2) Amount % of Total (2) Origination year: (3) < = 2008 $ 2,166 10.0% $ 9,684 44.9% $ 11,850 54.9% 2009 80 0.4 1,088 5.0 1,168 5.4 2010 82 0.4 1,562 7.2 1,644 7.6 2011 139 0.6 1,683 7.8 1,822 8.4 2012 969 4.5 268 1.2 1,237 5.7 2013 465 2.2 59 0.2 524 2.4 2014 557 2.6 31 0.2 588 2.8 2015 1,024 4.7 30 0.2 1,054 4.9 2016 1,674 7.8 23 0.1 1,697 7.9 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0% Geographic concentration: (4) California $ 976 4.5% $ 4,017 18.6% $ 4,993 23.1% New York 1,343 6.2 693 3.2 2,036 9.4 Maryland 585 2.7 824 3.9 1,409 6.6 Illinois 108 0.5 1,110 5.1 1,218 5.6 Virginia 490 2.3 714 3.3 1,204 5.6 New Jersey 379 1.8 733 3.4 1,112 5.2 Louisiana 962 4.5 23 0.1 985 4.6 Florida 159 0.7 772 3.6 931 4.3 Arizona 89 0.4 799 3.7 888 4.1 Texas 725 3.4 98 0.4 823 3.8 Other 1,340 6.2 4,645 21.5 5,985 27.7 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0 % Lien type: 1 st lien $ 6,182 28.7% $ 14,159 65.5% $ 20,341 94.2% 2 nd lien 974 4.5 269 1.3 1,243 5.8 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0% Interest rate type: Fixed rate $ 3,394 15.8% $ 1,822 8.4% $ 5,216 24.2% Adjustable rate 3,762 17.4 12,606 58.4 16,368 75.8 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0% __________ (1) The PCI loan balances with an origination date in the years subsequent to 2012 represent refinancing of previously acquired home loans. (2) Percentages within each risk category are calculated based on period-end amounts. (3) Modified loans are reported in the origination year of the initial borrowing. (4) States listed represent those that have the highest individual concentration of home loans. Our recorded investment in home loans that are in process of foreclosure was $384 million and $382 million as of June 30, 2017 and December 31, 2016 , respectively. We commence the foreclosure process on home loans when a borrower becomes at least 120 days delinquent in accordance with Consumer Financial Protection Bureau regulations. Foreclosure procedures and timelines vary according to state laws. As of June 30, 2017 and December 31, 2016 , the carrying value of the foreclosed residential real estate properties we hold and report as other assets on our consolidated balance sheets totaled $48 million and $69 million , respectively. Commercial Banking We evaluate the credit risk of commercial loans using a dual risk rating system. We assign internal risk ratings to loans based on relevant information about the ability of the borrowers to repay their debt. In determining the risk rating of a particular loan, some of the factors considered are the borrower’s current financial condition, historical and projected future credit performance, prospects for support from financially responsible guarantors, the estimated realizable value of any collateral and current economic trends. The scale based on our internal risk rating system is as follows: • Noncriticized: Loans that have not been designated as criticized, frequently referred to as “pass” loans. • Criticized performing: Loans in which the financial condition of the obligor is stressed, affecting earnings, cash flows or collateral values. The borrower currently has adequate capacity to meet near-term obligations; however, the stress, left unabated, may result in deterioration of the repayment prospects at some future date. • Criticized nonperforming: Loans that are not adequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Loans classified as criticized nonperforming have a well-defined weakness, or weaknesses, which jeopardize the full repayment of the debt. These loans are characterized by the distinct possibility that we will sustain a credit loss if the deficiencies are not corrected and are generally placed on nonaccrual status. We use our internal risk rating system for regulatory reporting, determining the frequency of credit exposure reviews, and evaluating and determining the allowance for loan and lease losses for commercial loans. Loans of $1 million or more that are designated as criticized performing and criticized nonperforming are reviewed quarterly by management to determine if they are appropriately classified/rated and whether any impairment exists. Noncriticized loans greater than $1 million are specifically reviewed, at least annually, to determine the appropriate risk rating. In addition, we evaluate the risk rating during the renewal process of any loan or if a loan becomes past due. The following table presents the geographic distribution and internal risk ratings of our commercial loan portfolio as of June 30, 2017 and December 31, 2016 . Table 4.8 : Commercial Banking Risk Profile by Geographic Region and Internal Risk Rating June 30, 2017 (Dollars in millions) Commercial and Multifamily Real Estate % of Total (1) Commercial and Industrial % of Total (1) Small-Ticket Commercial Real Estate % of Total (1) Total Commercial Banking % of Total (1) Geographic concentration: (2) Northeast $ 15,636 57.0% $ 8,863 22.3% $ 274 61.9% $ 24,773 36.6% Mid-Atlantic 3,212 11.7 3,896 9.8 16 3.6 7,124 10.5 South 3,924 14.3 15,100 37.9 28 6.3 19,052 28.2 Other 4,656 17.0 11,942 30.0 125 28.2 16,723 24.7 Total $ 27,428 100.0% $ 39,801 100.0% $ 443 100.0% $ 67,672 100.0% Internal risk rating: (3) Noncriticized $ 26,930 98.2% $ 36,439 91.5% $ 433 97.8% $ 63,802 94.3% Criticized performing 438 1.6 2,221 5.6 1 0.2 2,660 3.9 Criticized nonperforming 34 0.1 643 1.6 9 2.0 686 1.0 PCI loans 26 0.1 498 1.3 0 0.0 524 0.8 Total $ 27,428 100.0% $ 39,801 100.0 % $ 443 100.0% $ 67,672 100.0% December 31, 2016 (Dollars in millions) Commercial and Multifamily Real Estate % of Total (1) Commercial and Industrial % of Total (1) Small-Ticket Commercial Real Estate % of Total (1) Total Commercial Banking % of Total (1) Geographic concentration: (2) Northeast $ 15,714 59.0% $ 9,628 24.2% $ 298 61.7% $ 25,640 38.3% Mid-Atlantic 3,024 11.4 3,450 8.7 16 3.3 6,490 9.7 South 4,032 15.2 15,193 38.1 34 7.0 19,259 28.8 Other 3,839 14.4 11,553 29.0 135 28.0 15,527 23.2 Total $ 26,609 100.0% $ 39,824 100.0% $ 483 100.0% $ 66,916 100.0% Internal risk rating: (3) Noncriticized $ 26,309 98.9% $ 36,046 90.5% $ 473 97.9% $ 62,828 93.9% Criticized performing 242 0.9 2,205 5.5 6 1.3 2,453 3.7 Criticized nonperforming 30 0.1 988 2.5 4 0.8 1,022 1.5 PCI loans 28 0.1 585 1.5 0 0.0 613 0.9 Total $ 26,609 100.0% $ 39,824 100.0% $ 483 100.0% $ 66,916 100.0% __________ (1) Percentages calculated based on total loans held for investment in each respective loan category using period-end amounts. (2) Geographic concentration is generally determined by the location of the borrower’s business or the location of the collateral associated with the loan. Northeast consists of CT, MA, ME, NH, NJ, NY, PA and VT. Mid-Atlantic consists of DC, DE, MD, VA and WV. South consists of AL, AR, FL, GA, KY, LA, MO, MS, NC, SC, TN and TX. (3) Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset c ategories defined by banking regulatory authorities. Impaired Loans The following table presents information about our impaired loans, excluding PCI loans, which are reported separately as of June 30, 2017 , and December 31, 2016 , and for the three and six months ended June 30, 2017 and 2016 . Table 4.9 : Impaired Loans (1) June 30, 2017 (Dollars in millions) With an Allowance Without an Allowance Total Recorded Investment Related Allowance Net Recorded Investment Unpaid Principal Balance Credit Card: Domestic credit card $ 589 $ 0 $ 589 $ 189 $ 400 $ 575 International card businesses 156 0 156 76 80 151 Total credit card (2) 745 0 745 265 480 726 Consumer Banking: Auto (3) 311 172 483 28 455 766 Home loan 235 114 349 18 331 444 Retail banking 48 10 58 10 48 62 Total consumer banking 594 296 890 56 834 1,272 Commercial Banking: Commercial and multifamily real estate 107 30 137 8 129 140 Commercial and industrial 928 192 1,120 133 987 1,551 Total commercial lending 1,035 222 1,257 141 1,116 1,691 Small-ticket commercial real estate 8 0 8 0 8 10 Total commercial banking 1,043 222 1,265 141 1,124 1,701 Total $ 2,382 $ 518 $ 2,900 $ 462 $ 2,438 $ 3,699 December 31, 2016 (Dollars in millions) With an Allowance Without an Allowance Total Recorded Investment Related Allowance Net Recorded Investment Unpaid Principal Balance Credit Card: Domestic credit card $ 581 $ 0 $ 581 $ 174 $ 407 $ 566 International card businesses 134 0 134 65 69 129 Total credit card (2) 715 0 715 239 476 695 Consumer Banking: Auto (3) 316 207 523 24 499 807 Home loan 241 117 358 19 339 464 Retail banking 52 10 62 14 48 65 Total consumer banking 609 334 943 57 886 1,336 Commercial Banking: Commercial and multifamily real estate 83 29 112 7 105 112 Commercial and industrial 1,249 144 1,393 162 1,231 1,444 Total commercial lending 1,332 173 1,505 169 1,336 1,556 Small-ticket commercial real estate 4 0 4 0 4 4 Total commercial banking 1,336 173 1,509 169 1,340 1,560 Total $ 2,660 $ 507 $ 3,167 $ 465 $ 2,702 $ 3,591 Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 (Dollars in millions) Average Interest Average Interest Credit Card: Domestic credit card $ 588 $ 16 $ 586 $ 31 International card businesses 152 2 146 5 Total credit card (2) 740 18 732 36 Consumer Banking: Auto (3) 491 11 501 26 Home loan 342 1 346 2 Retail banking 56 0 58 1 Total consumer banking 889 12 905 29 Commercial Banking: Commercial and multifamily real estate 125 1 121 2 Commercial and industrial 1,173 5 1,246 8 Total commercial lending 1,298 6 1,367 10 Small-ticket commercial real estate 8 0 7 0 Total commercial banking 1,306 6 1,374 10 Total $ 2,935 $ 36 $ 3,011 $ 75 Three Months Ended Six Months Ended June 30, 2016 June 30, 2016 (Dollars in millions) Average Interest Average Interest Credit Card: Domestic credit card $ 521 $ 14 $ 528 $ 28 International card businesses 135 2 132 5 Total credit card (2) 656 16 660 33 Consumer Banking: Auto (3) 494 21 492 43 Home loan 364 1 364 2 Retail banking 60 1 61 1 Total consumer banking 918 23 917 46 Commercial Banking: Commercial and multifamily real estate 128 1 113 2 Commercial and industrial 1,277 3 1,116 5 Total commercial lending 1,405 4 1,229 7 Small-ticket commercial real estate 8 0 7 0 Total commercial banking 1,413 4 1,236 7 Total $ 2,987 $ 43 $ 2,813 $ 86 __________ (1) Impaired loans include loans modified in troubled debt restructurings (“TDRs”), all nonperforming commercial loans and nonperforming home loans with a specific impairment. Impaired loans without an allowance generally represent loans that have been charged down to the fair value of the underlying collateral for which we believe no additional losses have been incurred, or where the fair value of the underlying collateral meets or exceeds the loan’s amortized cost. (2) The period-end and average recorded investments of credit card loans include finance charges and fees. (3) Although certain assets from loan recovery inventory are not reported in our loans held for investment, they are included as impaired loans above since they are reported as TD Rs. The total recorded investment of loans modified in TDRs represents $2.4 billion and $2.5 billion of the impaired loans presented above as of June 30, 2017 and December 31, 2016 , respectively. Consumer TDRs classified as performing totaled $1.2 billion and $1.1 billion as of June 30, 2017 and December 31, 2016 , respectively. Commercial TDRs classified as performing totaled $580 million and $487 million as of June 30, 2017 and December 31, 2016 , respectively. Commitments to lend additional funds on loans modified in TDRs totaled $280 million and $208 million as of June 30, 2017 and December 31, 2016 , respectively. As part of our loan modification programs to borrowers experiencing financial difficulty, we may provide multiple concessions to minimize our economic loss and improve long-term loan performance and collectability. The following tables present the major modification types, recorded investment amounts and financial effects of loans modified in TDRs during the three and six months ended June 30, 2017 and 2016 . Table 4.10 : Troubled Debt Restructurings Total Loans (1)(2) Three Months Ended June 30, 2017 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 87 100% 14.36% 0% 0 0% $ 0 International card businesses 39 100 26.50 0 0 0 0 Total credit card 126 100 18.12 0 0 0 0 Consumer Banking: Auto 61 52 3.65 99 7 0 0 Home loan 6 47 3.14 87 233 5 0 Retail banking 4 18 0.10 59 13 0 0 Total consumer banking 71 49 3.54 96 25 0 0 Commercial Banking: Commercial and multifamily real estate 24 0 0.00 10 4 0 0 Commercial and industrial 134 18 2.23 47 9 0 0 Total commercial lending 158 15 2.23 41 9 0 0 Small-ticket commercial real estate 1 0 0.00 0 0 0 0 Total commercial banking 159 15 2.23 41 9 0 0 Total $ 356 52 13.35 37 17 0 $ 0 Total Loans (1)(2) Six Months Ended June 30, 2017 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 184 100% 14.09% 0% 0 0% $ 0 International card businesses 83 100 26.33 0 0 0 0 Total credit card 267 100 17.92 0 0 0 0 Consumer Banking: Auto 136 52 3.85 93 7 6 7 Home loan 14 54 2.49 83 227 2 0 Retail banking 6 30 1.19 62 11 0 0 Total consumer banking 156 51 3.66 91 25 5 7 Commercial Banking: Commercial and multifamily real estate 26 8 0.02 17 5 0 0 Commercial and industrial 281 9 1.23 32 18 0 0 Total commercial lending 307 9 1.13 31 17 0 0 Small-ticket commercial real estate 1 0 0.00 0 0 0 0 Total commercial banking 308 9 1.13 31 17 0 0 Total $ 731 51 13.68 32 22 0 $ 7 Total Loans (1)(2) Three Months Ended June 30, 2016 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 62 100% 12.81% 0% 0 0% $ 0 International card businesses 33 100 26.01 0 0 0 0 Total credit card 95 100 17.47 0 0 0 0 Consumer Banking: Auto 77 46 3.86 75 7 25 15 Home loan 12 52 2.29 95 252 2 0 Retail banking 4 47 4.10 58 10 35 1 Total consumer banking 93 47 3.64 77 46 22 16 Commercial Banking: Commercial and multifamily real estate 0 0 0.00 0 0 0 0 Commercial and industrial 254 12 0.06 64 25 0 0 Total commercial lending 254 12 0.00 64 25 0 0 Small-ticket commercial real estate 0 0 0.00 0 0 0 0 Total commercial banking 254 12 0.00 64 25 0 0 Total $ 442 38 10.82 53 32 5 $ 16 Total Loans (1)(2) Six Months Ended June 30, 2016 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 124 100% 12.83% 0% 0 0% $ 0 International card businesses 69 100 25.83 0 0 0 0 Total credit card 193 100 17.50 0 0 0 0 Consumer Banking: Auto 163 44 3.89 74 7 26 36 Home loan 25 57 2.47 85 250 2 0 Retail banking 7 36 5.02 70 10 20 1 Total consumer banking 195 45 3.69 75 43 22 37 Commercial Banking: Commercial and multifamily real estate 25 0 0.00 100 8 0 0 Commercial and industrial 301 10 0.05 58 23 0 0 Total commercial lending 326 9 0.05 62 21 0 0 Small-ticket commercial real estate 0 0 0.00 0 0 0 0 Total commercial banking 326 9 0.05 61 21 0 0 Total $ 714 43 11.93 49 30 6 $ 37 __________ (1) Represents the recorded investment of total loans modified in TDRs at the end of the quarter in which they were modified. (2) We present the modification types utilized most prevalently across our loan portfolios. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of concession as part of the modification. (3) Represents percentage of loans modified in TDRs during the period that were granted a reduced interest rate. (4) Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types. (5) Represents weighted average interest rate reduction for those loans that received an interest rate concession. (6) Represents percentage of loans modified in TDRs during the period that were granted a maturity date extension. (7) Represents weighted average change in maturity date for those loans that received a maturity date extension. (8) Represents percentage of loans modified in TDRs during the period that were granted forgiveness or forbearance of a portion of their balance. (9) Represents the gross balance forgiven. For loans modified in bankruptcy, the gross balance reduction represents collateral value write-downs associated with the discharge of the borrower’s obligations. TDR—Subsequent Defaults of Completed TDR Modifications The following table presents the type, number and recorded investment amount of loans modified in TDRs that exper |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 6 Months Ended |
Jun. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Allowance for Loans and Lease Losses | NOTE 5—ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED LENDING COMMITMENTS Our allowance for loan and lease losses represents management’s best estimate of incurred loan and lease losses inherent in our loans held for investment portfolio as of each balance sheet date. In addition to the allowance for loan and lease losses, we also estimate probable losses related to unfunded lending commitments, such as letters of credit, financial guarantees and binding unfunded loan commitments. The provision for losses on unfunded lending commitments is included in the provision for credit losses in our consolidated statements of income and the related reserve for unfunded lending commitments is included in other liabilities on our consolidated balance sheets. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for further discussion on the methodology and policy for determining our allowance for loan and lease losses for each of our loan portfolio segments, as well as information on our reserve for unfunded lending commitments. Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments Activity The table below summarizes changes in the allowance for loan and lease losses and reserve for unfunded lending commitments by portfolio segment for the three and six months ended June 30, 2017 and 2016 . Table 5.1 : Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments Activity Three Months Ended June 30, 2017 (Dollars in millions) Credit Card Consumer Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of March 31, 2017 $ 5,058 $ 1,163 $ 761 $ 2 $ 6,984 Charge-offs (1,572 ) (390 ) (140 ) 0 (2,102 ) Recoveries 316 158 4 6 484 Net charge-offs (1,256 ) (232 ) (136 ) 6 (1,618 ) Provision (benefit) for loan and lease losses 1,397 268 141 (5 ) 1,801 Allowance build (release) for loan and lease losses 141 36 5 1 183 Other changes (2) 11 0 (8 ) 0 3 Balance as of June 30, 2017 5,210 1,199 758 3 7,170 Reserve for unfunded lending commitments: Balance as of March 31, 2017 0 7 133 0 140 Provision (benefit) for losses on unfunded lending commitments 0 0 (1 ) 0 (1 ) Balance as of June 30, 2017 0 7 132 0 139 Combined allowance and reserve as of June 30, 2017 $ 5,210 $ 1,206 $ 890 $ 3 $ 7,309 Six Months Ended June 30, 2017 (Dollars in millions) Credit Card Consumer Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of December 31, 2016 $ 4,606 $ 1,102 $ 793 $ 2 $ 6,503 Charge-offs (3,173 ) (754 ) (166 ) 0 (4,093 ) Recoveries 646 304 7 8 965 Net charge-offs (2,527 ) (450 ) (159 ) 8 (3,128 ) Provision (benefit) for loan and lease losses 3,114 547 135 (7 ) 3,789 Allowance build (release) for loan and lease losses 587 97 (24 ) 1 661 Other changes (2) 17 0 (11 ) 0 6 Balance as of June 30, 2017 5,210 1,199 758 3 7,170 Reserve for unfunded lending commitments: Balance as of December 31, 2016 0 7 129 0 136 Provision (benefit) for losses on unfunded lending commitments 0 0 3 0 3 Balance as of June 30, 2017 0 7 132 0 139 Combined allowance and reserve as of June 30, 2017 $ 5,210 $ 1,206 $ 890 $ 3 $ 7,309 Three Months Ended June 30, 2016 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of March 31, 2016 $ 3,785 $ 914 $ 714 $ 3 $ 5,416 Charge-offs (1,215 ) (248 ) (64 ) (1 ) (1,528 ) Recoveries 266 102 4 1 373 Net charge-offs (949 ) (146 ) (60 ) 0 (1,155 ) Provision (benefit) for loan and lease losses 1,261 204 185 (1 ) 1,649 Allowance build (release) for loan and lease losses 312 58 125 (1 ) 494 Other changes (2) (11 ) 0 (18 ) 0 (29 ) Balance as of June 30, 2016 4,086 972 821 2 5,881 Reserve for unfunded lending commitments: Balance as of March 31, 2016 0 8 218 0 226 Provision (benefit) for losses on unfunded lending commitments 0 0 (57 ) 0 (57 ) Balance as of June 30, 2016 0 8 161 0 169 Combined allowance and reserve as of June 30, 2016 $ 4,086 $ 980 $ 982 $ 2 $ 6,050 Six Months Ended June 30, 2016 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of December 31, 2015 $ 3,654 $ 868 $ 604 $ 4 $ 5,130 Charge-offs (2,437 ) (539 ) (112 ) (2 ) (3,090 ) Recoveries 538 210 6 3 757 Net charge-offs (1,899 ) (329 ) (106 ) 1 (2,333 ) Provision (benefit) for loan and lease losses 2,332 433 356 (3 ) 3,118 Allowance build (release) for loan and lease losses 433 104 250 (2 ) 785 Other changes (2) (1 ) 0 (33 ) 0 (34 ) Balance as of June 30, 2016 4,086 972 821 2 5,881 Reserve for unfunded lending commitments: Balance as of December 31, 2015 0 7 161 0 168 Provision (benefit) for losses on unfunded lending commitments 0 1 0 0 1 Balance as of June 30, 2016 0 8 161 0 169 Combined allowance and reserve as of June 30, 2016 $ 4,086 $ 980 $ 982 $ 2 $ 6,050 __________ (1) Primarily consists of the legacy loan portfolio of our discontinued GreenPoint mortgage operations. (2) Represents foreign currency translation adjustments and the net impact of loan transfers and sales. Components of Allowance for Loan and Lease Losses by Impairment Methodology The table below presents the components of our allowance for loan and lease losses by portfolio segment and impairment methodology with the recorded investment of the related loans as of June 30, 2017 and December 31, 2016 . Table 5.2 : Components of Allowance for Loan and Lease Losses by Impairment Methodology June 30, 2017 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated (1) $ 4,945 $ 1,113 $ 616 $ 3 $ 6,677 Asset-specific (2) 265 56 141 0 462 PCI loans (3) 0 30 1 0 31 Total allowance for loan and lease losses $ 5,210 $ 1,199 $ 758 $ 3 $ 7,170 Loans held for investment: Collectively evaluated (1) $ 100,845 $ 61,859 $ 65,883 $ 67 $ 228,654 Asset-specific (2) 745 743 1,265 0 2,753 PCI loans (3) 0 12,371 524 0 12,895 Total loans held for investment $ 101,590 $ 74,973 $ 67,672 $ 67 $ 244,302 Allowance coverage ratio (4) 5.13% 1.60% 1.12% 4.48% 2.93% December 31, 2016 (Dollars in millions) Credit Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated (1) $ 4,367 $ 1,016 $ 622 $ 2 $ 6,007 Asset-specific (2) 239 57 169 0 465 PCI loans (3) 0 29 2 0 31 Total allowance for loan and lease losses $ 4,606 $ 1,102 $ 793 $ 2 $ 6,503 Loans held for investment: Collectively evaluated (1) $ 104,835 $ 57,862 $ 64,794 $ 64 $ 227,555 Asset-specific (2) 715 736 1,509 0 2,960 PCI loans (3) 2 14,456 613 0 15,071 Total loans held for investment $ 105,552 $ 73,054 $ 66,916 $ 64 $ 245,586 Allowance coverage ratio (4) 4.36% 1.51% 1.19% 3.13% 2.65% __________ (1) The component of the allowance for loan and lease losses for credit card and other consumer loans that we collectively evaluate for impairment is based on a statistical calculation supplemented by management judgment and interpretation. The component of the allowance for loan and lease losses for commercial loans that we collectively evaluate for impairment is based on historical loss experience for loans with similar characteristics and consideration of credit quality supplemented by management judgment and interpretation. (2) The asset-specific component of the allowance for loan and lease losses for smaller-balance impaired loans is calculated on a pool basis using historical loss experience for the respective class of assets. The asset-specific component of the allowance for loan and lease losses for larger-balance commercial loans is individually calculated for each loan. (3) The PCI loans component of the allowance for loan and lease losses is accounted for based on expected cash flows. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for details on these loans. (4) Allowance coverage ratio is calculated by dividing the period-end allowance for loan and lease losses by period-end loans held for investment within the specified loan category. We have certain credit card partnership arrangements in which our partner agrees to share a portion of the credit losses associated with the partnership that qualify for net accounting treatment. The expected reimbursements from these partners, which are netted against our allowance for loan and lease losses, result in reductions to reported net charge-offs and provision for credit losses. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for further discussion on our card partnership agreements. The table below summarizes the changes in the estimated reimbursements from these partners for the three and six months ended June 30, 2017 and 2016 . Table 5.3 : Summary of Loss Sharing Arrangements Impacts Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Estimated reimbursements from loss sharing partners: Balance as of beginning of the period $ 235 $ 197 $ 228 $ 194 Impact to net charge-offs (67 ) (53 ) (132 ) (105 ) Impact to provision for credit losses 95 75 167 130 Balance as of end of the period $ 263 $ 219 $ 263 $ 219 |
Variable Interest Entities and
Variable Interest Entities and Securitizations | 6 Months Ended |
Jun. 30, 2017 | |
Variable Interest Entities and Securitization [Abstract] | |
Variable Interest Entities and Securitizations | NOTE 6—VARIABLE INTEREST ENTITIES AND SECURITIZATIONS In the normal course of business, we enter into various types of transactions with entities that are considered to be VIEs. Our primary involvement with VIEs has been related to our securitization transactions in which we transferred assets from our balance sheet to securitization trusts. We have primarily securitized credit card and home loans, which have provided a source of funding for us and enabled us to transfer a certain portion of the economic risk of the loans or related debt securities to third parties. The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and is required to consolidate the VIE. The majority of the VIEs in which we are involved have been consolidated in our financial statements. Summary of Consolidated and Unconsolidated VIEs The assets of our consolidated VIEs primarily consist of cash, credit card loan receivables and the related allowance for loan and lease losses, which we report on our consolidated balance sheets under restricted cash, loans held in consolidated trust, and allowance for loan and lease losses, respectively. The assets of a particular VIE are the primary source of funding to settle its obligations. The creditors of the VIEs typically do not have recourse to the general credit of the Company. The liabilities primarily consist of debt securities issued by the VIEs, which we report under securitized debt obligations. For unconsolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets and our maximum exposure to loss. Our maximum exposure to loss is estimated based on the unlikely event that all of the assets in the VIEs become worthless and we are required to meet our maximum remaining funding obligations. The table below presents a summary of certain VIEs in which we had continuing involvement or held a variable interest, aggregated based on VIEs with similar characteristics as of June 30, 2017 and December 31, 2016 . We separately present information for consolidated and unconsolidated VIEs. Table 6.1 : Carrying Amount of Consolidated and Unconsolidated VIEs June 30, 2017 Consolidated Unconsolidated (Dollars in millions) Carrying Amount of Assets Carrying Amount of Liabilities Carrying Amount of Assets Carrying Amount of Liabilities Maximum Exposure to Loss Securitization-Related VIEs: Credit card loan securitizations (1) $ 28,934 $ 18,504 $ 0 $ 0 $ 0 Home loan securitizations (2) 0 0 188 69 1,143 Total securitization-related VIEs 28,934 18,504 188 69 1,143 Other VIEs: (3) Affordable housing entities 187 9 4,158 1,266 4,158 Entities that provide capital to low-income and rural communities 1,127 128 0 0 0 Other 0 0 318 0 318 Total other VIEs 1,314 137 4,476 1,266 4,476 Total VIEs $ 30,248 $ 18,641 $ 4,664 $ 1,335 $ 5,619 December 31, 2016 Consolidated Unconsolidated (Dollars in millions) Carrying Amount of Assets Carrying Amount of Liabilities Carrying Amount of Assets Carrying Amount of Liabilities Maximum Exposure to Loss Securitization-Related VIEs: Credit card loan securitizations (1) $ 33,550 $ 19,662 $ 0 $ 0 $ 0 Home loan securitizations (2) 0 0 201 27 1,276 Total securitization-related VIEs 33,550 19,662 201 27 1,276 Other VIEs: (3) Affordable housing entities 174 9 3,862 1,093 3,862 Entities that provide capital to low-income and rural communities 927 127 0 0 0 Other 0 0 187 0 187 Total other VIEs 1,101 136 4,049 1,093 4,049 Total VIEs $ 34,651 $ 19,798 $ 4,250 $ 1,120 $ 5,325 __________ (1) Represents the carrying amount of assets and liabilities owned by the VIE, which includes the seller’s interest and repurchased notes held by other related parties. (2) The carrying amount of assets of unconsolidated securitization-related VIEs consists of retained interests associated with the securitization of option-adjustable rate mortgage (“option-ARM”) loans and letters of credit related to manufactured housing securitizations. These are reported on our consolidated balance sheets within other assets. The carrying amount of liabilities of unconsolidated securitization-related VIEs is comprised of obligations on certain swap agreements associated with the securitizations of manufactured housing loans and other obligations. These are reported on our consolidated balance sheets within other liabilities. (3) In certain investment structures, we consolidate a VIE which in turn holds as its primary asset an investment in an unconsolidated VIE. In these instances, we disclose the carrying amount of assets and liabilities on our consolidated balance sheets in the unconsolidated VIEs to avoid duplicating our exposure, as the unconsolidated VIEs are generally the operating entities generating the exposure. The carrying amount of assets and liabilities included in the unconsolidated VIE columns above related to these investment structures were $2.1 billion of assets and $817 million of liabilities as of June 30, 2017 and $1.9 billion of assets and $618 million of liabilities as of December 31, 2016 . Securitization-Related VIEs In a securitization transaction, assets from our balance sheet are transferred to a trust, which generally meets the definition of a VIE. Our primary securitization activity is in the form of credit card securitizations, conducted through securitization trusts which we consolidate. Our continuing involvement in these securitization transactions mainly consists of acting as the primary servicer and holding certain retained interests. We transfer residential home loans and multifamily commercial loans that we originate to the government-sponsored enterprises (“GSEs”) and retain the right to service the transferred loans pursuant to the guidelines set forth by the GSEs. Subsequent to such transfers, these loans are commonly securitized into RMBS or CMBS by the GSEs. We also hold RMBS, CMBS and ABS in our investment portfolio, which represent an interest in the respective securitization trusts employed in the transactions under which those securities were issued. We do not consolidate the securitization trusts employed in these transactions as we do not have the power to direct the activities that most significantly impact the economic performance of these securitization trusts. Our maximum exposure to loss as a result of our involvement with these VIEs is the carrying value of the mortgage servicing rights (“MSRs”) and investment securities on our consolidated balance sheets. See “ Note 7—Goodwill and Intangible Assets ” for information related to our MSRs associated with these residential home loan and multifamily commercial loan securitizations and “ Note 3—Investment Securities ” for more information on the securities held in our investment securities portfolio. We exclude these VIEs from the tables within this note because we do not consider our continuing involvement with these VIEs to be significant; we either invest in securities issued by the VIE and were not involved in the design of the VIE, or no transfers have occurred between the VIE and us. In addition, where we have certain lending arrangements in the normal course of business with entities that could be VIEs, we have also excluded these VIEs from the tables presented in this note. See “ Note 4—Loans ” for additional information regarding our lending arrangements in the normal course of business. We also may have exposure associated with contractual obligations to repurchase previously transferred loans due to breaches of representations and warranties. See “ Note 14—Commitments, Contingencies, Guarantees and Others ” for information related to reserves we have established for our mortgage representation and warranty exposure. The table below presents our continuing involvement in certain securitization-related VIEs as of June 30, 2017 and December 31, 2016 . Table 6.2 : Continuing Involvement in Securitization-Related VIEs Mortgage (Dollars in millions) Credit Card Option- ARM GreenPoint HELOCs GreenPoint Manufactured Housing June 30, 2017: Securities held by third-party investors $ 18,358 $ 1,361 $ 47 $ 641 Receivables in the trust 29,438 1,407 41 646 Cash balance of spread or reserve accounts 0 8 N/A 125 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes (1) No No (2) Amortization event (3) No No No No December 31, 2016: Securities held by third-party investors $ 18,826 $ 1,499 $ 56 $ 697 Receivables in the trust 31,762 1,549 50 702 Cash balance of spread or reserve accounts 0 8 N/A 130 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes (1) No No (2) Amortization event (3) No No No No __________ (1) We continue to service certain option-ARM securitizations. (2) The core servicing activities for the manufactured housing securitizations are completed by a third party. (3) Amortization events vary according to each specific trust agreement but generally are triggered by declines in performance or credit metrics of the underlying assets, such as net charge-off rates or delinquency rates, beyond certain predetermined thresholds. Generally, the occurrence of an amortization event changes the sequencing and amount of trust-related cash flows to the benefit of more senior interest holders. Credit Card Securitizations We hold certain retained interests in our credit card securitizations and continue to service the receivables in these trusts. As of June 30, 2017 and December 31, 2016 , we were deemed to be the primary beneficiary, and accordingly, all of these trusts have been consolidated in our financial statements. Mortgage Securitizations Option-ARM Loans We had previously securitized option-ARM loans by transferring these loans to securitization trusts that had issued mortgage-backed securities to investors. The outstanding balance of debt securities held by third-party investors related to these mortgage loan securitization trusts was $1.4 billion and $1.5 billion as of June 30, 2017 and December 31, 2016 , respectively. We continue to service a portion of the remaining mortgage loans in these securitizations. We also retain rights to future cash flows arising from these securitizations, the most significant being certificated interest-only bonds issued by the trusts. We generally estimate the fair value of these retained interests based on the estimated present value of expected future cash flows, using our best estimates of the key assumptions which include credit losses, prepayment speeds and discount rates commensurate with the risks involved. For the mortgage loans that we continue to service, we do not consolidate the related trusts because we do not have the right to receive benefits nor the obligation to absorb losses that could potentially be significant to the trusts. For the remaining trusts, for which we no longer service the underlying mortgage loans, we do not consolidate these entities since we do not have the power to direct the activities that most significantly impact the economic performance of the trusts. In connection with the securitization of certain option-ARM loans, a third party is obligated to advance a portion of any “negative amortization” resulting from monthly payments that are less than the interest accrued for that payment period. We have an agreement in place with the third party that mirrors this advance requirement. The amount advanced is tracked through mortgage-backed securities retained as part of the securitization transaction. As advances occur, we record an asset in the form of negative amortization bonds, which are held at fair value in other assets on our consolidated balance sheets. Our maximum exposure is affected by rate caps and monthly payment change caps, but the funding obligation cannot exceed the difference between the original loan balance multiplied by a preset negative amortization cap and the current unpaid principal balance. For the transactions where the negative amortization funding agreements have been terminated, incremental negative amortization is funded through the available cash flow in each transaction. We have also entered into certain derivative contracts related to the securitization activities. These are classified as free-standing derivatives, with fair value adjustments recorded in non-interest income in our consolidated statements of income. See “ Note 9—Derivative Instruments and Hedging Activities ” for further details on these derivatives. GreenPoint Mortgage Home Equity Lines of Credit (“HELOCs”) Our discontinued wholesale mortgage banking unit, GreenPoint Mortgage Funding, Inc. (“GreenPoint”), previously sold HELOCs in whole loan sales that were subsequently securitized by third parties. GreenPoint acquired residual interests in certain of those securitization trusts. We do not consolidate these trusts because we either lack the power to direct the activities that most significantly impact the economic performance of the trusts or because we do not have the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts. As the residual interest holder, GreenPoint is required to fund advances on the HELOCs when certain performance triggers are met due to deterioration in asset performance. On behalf of GreenPoint, we have funded cumulative advances of $30 million as of both June 30, 2017 and December 31, 2016 . We also have unfunded commitments of $5 million related to those interests for our non-consolidated VIEs as of both June 30, 2017 and December 31, 2016 . GreenPoint Credit Manufactured Housing We have retained certain interests and obligations related to the discontinued manufactured housing operations of GreenPoint Credit, LLC, a subsidiary of GreenPoint. Such discontinued operations, including the related recourse obligations, servicing rights and the primary obligation to execute mandatory clean-up calls in certain securitization transactions were sold to a third party in 2004. We do not consolidate these securitization trusts because we do not have the power to direct the activities that most significantly impact the economic performance of the trusts as we no longer service the loans. The unpaid principal balance of manufactured housing securitization transactions where we are the residual interest holder was $646 million and $702 million as of June 30, 2017 and December 31, 2016 , respectively. In the event the third-party servicer does not fulfill its obligation to exercise the clean-up calls on certain securitizations, the obligation reverts to us and we would be required to acquire a maximum of approximately $410 million of loan receivables and other assets upon our execution of these clean-up calls with the requirement to absorb any losses on the loan receivables and other assets. See “ Note 14—Commitments, Contingencies, Guarantees and Others ” for information related to these obligations. We were required to fund letters of credit to cover losses on certain manufactured housing securitizations. We have the right to receive any funds remaining in the letters of credit after the securities are released. The fair value of these letters of credit are included in other assets on our consolidated balance sheets and totaled $84 million and $85 million as of June 30, 2017 and December 31, 2016 , respectively. We also have credit exposure on an agreement that we entered into to absorb a portion of the risk of loss on certain manufactured housing securitizations not subject to the funded letters of credit. Our maximum credit exposure related to the agreement totaled $12 million as of both June 30, 2017 and December 31, 2016 . Our obligation under the agreement included in other liabilities on our consolidated balance sheets was $8 million as of both June 30, 2017 and December 31, 2016 . Other VIEs Affordable Housing Entities As part of our community reinvestment initiatives, we invest in private investment funds that make equity investments in multi-family affordable housing properties. We receive affordable housing tax credits for these investments. The activities of these entities are financed with a combination of invested equity capital and debt. We account for certain of our investments in qualified affordable housing projects using the proportional amortization method if certain criteria are met. The proportional amortization method amortizes the cost of the investment over the period in which the investor expects to receive tax credits and other tax benefits, and the resulting amortization is recognized as a component of income tax expense attributable to continuing operations. For the six months ended June 30, 2017 and 2016 , we recognized amortization of $230 million and $196 million , respectively, and tax credits of $238 million and $228 million , respectively, associated with these investments within income tax provision. The carrying value of our equity investments in these qualified affordable housing projects was $4.0 billion and $3.8 billion as of June 30, 2017 and December 31, 2016 , respectively. We are periodically required to provide additional financial or other support during the period of the investments. Our liability for these unfunded commitments was $1.4 billion and $1.2 billion as of June 30, 2017 and December 31, 2016 , respectively. Predominantly all of this liability is expected to be paid from 2017 to 2019 . For those investment funds considered to be VIEs, we are not required to consolidate them if we do not have the power to direct the activities that most significantly impact the economic performance of those entities. We record our interests in these unconsolidated VIEs in loans held for investment, other assets and other liabilities on our consolidated balance sheets. Our interests consisted of assets of approximately $4.2 billion and $3.9 billion as of June 30, 2017 and December 31, 2016 , respectively. Our maximum exposure to these entities is limited to our variable interests in the entities of $4.2 billion and $3.9 billion as of June 30, 2017 and December 31, 2016 , respectively. The creditors of the VIEs have no recourse to our general credit and we do not provide additional financial or other support other than during the period that we are contractually required to provide it. The total assets of the unconsolidated VIE investment funds were approximately $11.4 billion and $11.5 billion as of June 30, 2017 and December 31, 2016 , respectively. Entities that Provide Capital to Low-Income and Rural Communities We hold variable interests in entities (“Investor Entities”) that invest in community development entities (“CDEs”) that provide debt financing to businesses and non-profit entities in low-income and rural communities. Variable interests in the CDEs held by the consolidated Investor Entities are also our variable interests. The activities of the Investor Entities are financed with a combination of invested equity capital and debt. The activities of the CDEs are financed solely with invested equity capital. We receive federal and state tax credits for these investments. We consolidate the VIEs in which we have the power to direct the activities that most significantly impact the VIE’s economic performance and where we have the obligation to absorb losses or right to receive benefits that could be potentially significant to the VIE. We have also consolidated other investments and CDEs that are not considered to be VIEs, but where we hold a controlling financial interest. The assets of the VIEs that we consolidated, which totaled approximately $1.1 billion and $927 million as of June 30, 2017 and December 31, 2016 , respectively, are reflected on our consolidated balance sheets in cash, loans held for investment, interest receivable and other assets. The liabilities are reflected in other liabilities. The creditors of the VIEs have no recourse to our general credit. We have not provided additional financial or other support other than during the period that we are contractually required to provide it. Other Other VIEs include variable interests that we hold in companies that promote renewable energy sources and other equity method investments. We were not required to consolidate these entities because we do not have the power to direct the activities that most significantly impact their economic performance. Our maximum exposure to these entities is limited to the investment on our consolidated balance sheets of $318 million and $187 million as of June 30, 2017 and December 31, 2016 , respectively. The creditors of the other VIEs have no recourse to our general credit. We have not provided additional financial or other support other than during the period that we are contractually required to provide it. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 7—GOODWILL AND INTANGIBLE ASSETS The table below displays the components of goodwill, intangible assets and MSRs as of June 30, 2017 and December 31, 2016 . Goodwill is presented separately on our consolidated balance sheets. Intangible assets and MSRs are included in other assets on our consolidated balance sheets. Table 7.1 : Components of Goodwill, Intangible Assets and MSRs June 30, 2017 (Dollars in millions) Carrying (1) Accumulated Amortization (1) Net Goodwill $ 14,524 N/A $ 14,524 Intangible assets: Purchased credit card relationship (“PCCR”) intangibles 2,151 $ (1,802 ) 349 Core deposit intangibles 1,391 (1,360 ) 31 Other (2) 314 (152 ) 162 Total intangible assets 3,856 (3,314 ) 542 Total goodwill and intangible assets $ 18,380 $ (3,314 ) $ 15,066 MSRs: Consumer MSRs (3) $ 85 N/A $ 85 Commercial MSRs (4) 314 $ (102 ) 212 Total MSRs $ 399 $ (102 ) $ 297 December 31, 2016 (Dollars in millions) Carrying (1) Accumulated Amortization (1) Net Goodwill $ 14,519 N/A $ 14,519 Intangible assets: PCCR intangibles 2,151 $ (1,715 ) 436 Core deposit intangibles 1,391 (1,345 ) 46 Other (2) 314 (131 ) 183 Total intangible assets 3,856 (3,191 ) 665 Total goodwill and intangible assets $ 18,375 $ (3,191 ) $ 15,184 MSRs: Consumer MSRs (3) $ 80 N/A $ 80 Commercial MSRs (4) 276 $ (82 ) 194 Total MSRs $ 356 $ (82 ) $ 274 __________ (1) Certain intangible assets that were fully amortized in prior periods were removed from our consolidated balance sheets. (2) Primarily consists of intangibles for sponsorship relationships, brokerage relationship intangibles, partnership and other contract intangibles and trade name intangibles. (3) Represents MSRs related to our Consumer Banking business that are carried at fair value on our consolidated balance sheets. (4) Represents MSRs related to our Commercial Banking business that are subsequently accounted for under the amortization method and periodically assessed for impairment. Amortization expense for amortizable intangible assets, which is presented separately in our consolidated statements of income, totaled $61 million and $123 million for the three and six months ended June 30, 2017 , respectively, and $95 million and $196 million for the three and six months ended June 30, 2016 , respectively. Goodwill The following table presents changes in the carrying amount of goodwill as well as goodwill attributable to each of our business segments as of June 30, 2017 and December 31, 2016 . Table 7.2 : Goodwill Attributable to Business Segments (Dollars in millions) Credit Card Consumer Banking Commercial Banking Total Balance as of December 31, 2016 $ 5,018 $ 4,600 $ 4,901 $ 14,519 Other adjustments (1) 5 0 0 5 Balance as of June 30, 2017 $ 5,023 $ 4,600 $ 4,901 $ 14,524 __________ (1) Represent foreign currency translation adjustments. |
Deposits and Borrowings
Deposits and Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Deposits and Borrowings [Abstract] | |
Deposits and Borrowings | NOTE 8—DEPOSITS AND BORROWINGS Deposits Our deposits, which are our largest source of funding for our assets and operations, consist of non-interest-bearing and interest-bearing deposits, which include checking accounts, money market deposit accounts, negotiable order of withdrawals, savings deposits and time deposits. Securitized and Unsecured Debt Obligations In addition to our deposits, which serve as our primary funding source, we use a variety of other funding sources including short-term borrowings, the issuance of senior and subordinated notes and other borrowings, and securitization transactions. In addition, we utilize FHLB advances, which are secured by certain portions of our loan and investment securities portfolios, for our funding needs. The securitized debt obligations are separately presented on our consolidated balance sheets as they represent obligations of consolidated securitization trusts, while federal funds purchased and securities loaned or sold under agreements to repurchase, senior and subordinated notes and other borrowings, including FHLB advances, are included in other debt on our consolidated balance sheets. Securitized Debt Obligations Our borrowings due to securitization investors decreased to $18.4 billion as of June 30, 2017 from $18.8 billion as of December 31, 2016 . During the first six months of 2017 , $3.0 billion of new debt was issued to third-party investors from our credit card loan securitization trust, more than offset by $3.5 billion of maturities. Senior and Subordinated Notes We had $28.5 billion and $23.4 billion of senior and subordinated notes outstanding as of June 30, 2017 and December 31, 2016 , respectively. During the first six months of 2017 , we issued $6.5 billion of long-term senior and subordinated debt comprised of $1.4 billion of floating-rate notes and $5.1 billion of fixed-rate notes. During the first six months of 2017 , $1.5 billion of senior and subordinated notes matured. FHLB Advances and Other We have access to funding through the FHLB system and the Federal Reserve Discount Window. Our FHLB and Federal Reserve memberships require us to hold FHLB and Federal Reserve stock which totaled $1.4 billion and $1.9 billion as of June 30, 2017 and December 31, 2016 , respectively, and are included in other assets on our consolidated balance sheets. Our FHLB advances and lines of credit are secured by our investment securities, residential home loans, multifamily real estate loans, commercial real estate loans and HELOCs. Outstanding FHLB advances totaled $2.1 billion and $17.2 billion as of June 30, 2017 and December 2016 , respectively, substantially all of which represented long-term advances generally callable on either a one-month or a three-month basis. We did not access the Federal Reserve Discount Window for funding during 2016 or the first six months of 2017. Composition of Deposits, Short-Term Borrowings and Long-Term Debt The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of June 30, 2017 and December 31, 2016 . Our total short-term borrowings consist of federal funds purchased and securities loaned or sold under agreements to repurchase. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The carrying value presented below for these borrowings include unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments. Table 8.1 : Components of Deposits, Short-Term Borrowings and Long-Term Debt (Dollars in millions) June 30, December 31, Deposits: Non-interest-bearing deposits $ 25,953 $ 25,502 Interest-bearing deposits 213,810 211,266 Total deposits $ 239,763 $ 236,768 Short-term borrowings: Federal funds purchased and securities loaned or sold under agreements to repurchase $ 958 $ 992 Total short-term borrowings $ 958 $ 992 June 30, 2017 (Dollars in millions) Maturity Dates Interest Rates Weighted- Average Interest Rate Carrying Value December 31, Long-term debt: Securitized debt obligations (1) 2017 - 2025 1.20 - 5.75% 1.88% $ 18,358 $ 18,826 Senior and subordinated notes: (1) Fixed unsecured senior debt 2017 - 2027 1.50 - 6.75 2.76 21,174 17,546 Floating unsecured senior debt 2018 - 2023 1.85 - 2.33 2.08 2,748 1,353 Total unsecured senior debt 2.68 23,922 18,899 Fixed unsecured subordinated debt 2019 - 2026 3.38 - 8.80 4.09 4,556 4,532 Total senior and subordinated notes 28,478 23,431 Other long-term borrowings: FHLB advances 2017 - 2023 1.20 - 5.54 1.24 2,114 17,179 Capital lease obligations 2024 - 2035 3.09 - 12.86 5.90 46 32 Total other long-term borrowings 2,160 17,211 Total long-term debt $ 48,996 $ 59,468 Total short-term borrowings and long-term debt $ 49,954 $ 60,460 __________ (1) Carrying value includes fair value hedge accounting adjustments. Components of Interest Expense The following table displays interest expense attributable to short-term borrowings and long-term debt for the three and six months ended June 30, 2017 and 2016 : Table 8.2 : Components of Interest Expense on Short-Term Borrowings and Long-Term Debt Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Short-term borrowings: Federal funds purchased and securities loaned or sold under agreements to repurchase $ 1 $ 1 $ 2 $ 2 Total short-term borrowings 1 1 2 2 Long-term debt: Securitized debt obligations (1) 82 47 151 95 Senior and subordinated notes (1) 179 111 328 217 Other long-term borrowings 11 27 35 50 Total long-term debt 272 185 514 362 Total interest expense on short-term borrowings and long-term debt $ 273 $ 186 $ 516 $ 364 _ _________ (1) Interest expense includes the impact from qualifying hedge accounting relationships. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | NOTE 9—DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Use of Derivatives We manage asset and liability positions and market risk exposure and limits in accordance with market risk management policies that are approved by our Board of Directors. Our primary market risks stem from the impact on our earnings and economic value of equity from changes in interest rates and, to a lesser extent, changes in foreign exchange rates. We employ several techniques to manage our interest rate sensitivity, which include changing the duration and re-pricing characteristics of various assets and liabilities by using interest rate derivatives. Our current policies also include the use of derivatives to hedge exposures denominated in foreign currency so we may limit our earnings and capital ratio exposures to foreign exchange risk. We execute our derivative contracts in both the over-the-counter (“OTC”) and exchange-traded derivative markets. Under the Dodd-Frank Act, we are required to clear eligible derivative transactions through Central Counterparty Clearinghouses (“CCPs”) such as the Chicago Mercantile Exchange (“CME”) and Clearnet (“LCH”), which are often referred to as “central clearinghouses.” The majority of our derivatives are interest rate swaps. In addition, we may use a variety of other derivative instruments, including caps, floors, options, futures and forward contracts, to manage our interest rate and foreign exchange risks. We offer various interest rate, foreign exchange rate and commodity derivatives as an accommodation to our customers within our Commercial Banking business, and usually offset our exposure through derivative transactions with other counterparties. Derivatives Counterparty Credit Risk Derivative instruments contain an element of credit risk that arises from the potential failure of a counterparty to perform according to the terms of the contract. Our exposure to derivative counterparty credit risk, at any point in time, is represented by the fair value of derivatives in a gain position, or derivative asset position, assuming no recoveries of underlying collateral. To mitigate the risk of counterparty default, we enter into legally enforceable master netting agreements and collateral agreements, where possible, with certain derivative counterparties. We generally enter into these agreements on a bilateral basis with our counterparties. These bilateral agreements typically provide the right to offset exposures and require one counterparty to post collateral on derivative instruments in a net liability position to the other counterparty. Certain of these bilateral agreements include provisions requiring that our debt maintain a credit rating of investment grade or above by each of the major credit rating agencies. In the event of a downgrade of our debt credit rating below investment grade, some of our counterparties would have the right to terminate the derivative contract and close out the existing positions. We also clear certain OTC derivatives with central clearinghouses through futures commission merchants (“FCMs”) as part of the regulatory requirement. The use of the central clearinghouses and the FCMs reduces our bilateral counterparty credit exposures while it increases our credit exposures to CCPs and FCMs. We are required by CCPs to post initial and variation margin to mitigate the risk of non-payment through our FCMs. Our FCM agreements governing these derivative transactions generally include provisions that may require us to post more collateral or otherwise change terms in our agreements under certain circumstances. Effective January 3, 2017, the CME amended its rulebook to legally characterize variation margin cash payments for cleared OTC derivatives as a settlement of the position rather than collateral. We adopted this variation margin rule change in the second quarter of 2017. As a result, we began reducing the corresponding derivative assets and liabilities for CME-cleared OTC derivatives to reflect the settlement of these positions. Variation margin payments for LCH-cleared OTC derivatives continue to be characterized as collateral. We record counterparty credit risk valuation adjustments (“CVAs”) on our OTC derivative contracts to properly reflect the credit quality of the counterparty. We consider collateral and legally enforceable master netting agreements that mitigate our credit exposure to each counterparty in determining the counterparty credit risk valuation adjustment, which may be adjusted in future periods due to changes in the fair value of the derivative contracts, collateral and creditworthiness of the counterparty. We also adjust the fair value of our derivative liabilities to reflect the impact of our own credit quality (“DVAs”). We calculate this adjustment by comparing the spreads on our credit default swaps to the discount benchmark curve. Accounting for Derivatives Our derivatives are designated as either qualifying accounting hedges or free-standing derivatives. Qualifying accounting hedges are designated as fair value hedges, cash flow hedges or net investment hedges. Free-standing derivatives primarily consist of customer-accommodation derivatives and economic hedges that do not qualify for hedge accounting. • Fair Value Hedges: We designate derivatives as fair value hedges when they are used to manage our exposure to changes in the fair value of certain financial assets and liabilities, which fluctuate in value as a result of movements in interest rates. Changes in the fair value of derivatives designated as fair value hedges are recorded in earnings together with offsetting changes in the fair value of the hedged item and any resulting ineffectiveness. Our fair value hedges consist of interest rate swaps that are intended to modify our exposure to interest rate risk on various fixed-rate assets and liabilities. • Cash Flow Hedges: We designate derivatives as cash flow hedges when they are used to manage our exposure to variability in cash flows related to forecasted transactions. Changes in the fair value of derivatives designated as cash flow hedges are recorded as a component of AOCI, to the extent that the hedge relationships are effective, and amounts are reclassified from AOCI to earnings as the forecasted transactions impact earnings. To the extent that any ineffectiveness exists in the hedge relationships, the amounts are recorded in current period earnings. Our cash flow hedges use interest rate swaps and floors that are intended to hedge the variability in interest receipts or interest payments on some of our variable-rate assets or liabilities. We also enter into foreign currency forward derivative contracts to hedge our exposure to variability in cash flows related to intercompany borrowings denominated in foreign currency. • Net Investment Hedges: We use net investment hedges to manage the foreign currency exposure related to our net investments in foreign operations that have functional currencies other than the U.S. dollar. Changes in the fair value of net investment hedges are recorded in the translation adjustment component of AOCI, offsetting the translation gain or loss from those foreign operations. We execute net investment hedges using foreign exchange forward contracts to hedge the translation exposure of the net investment in our foreign operations. • Free-Standing Derivatives: We use free-standing derivatives to hedge the risk of changes in the fair value of residential MSRs, mortgage loan origination and purchase commitments and other interests held. We also categorize our customer accommodation derivatives and the related offsetting contracts as free-standing derivatives. Changes in the fair value of free-standing derivatives are recorded in earnings as a component of other non-interest income. Balance Sheet Presentation The following table summarizes the notional and fair values of our derivative instruments on as of June 30, 2017 and December 31, 2016 , which are segregated by derivatives that are designated as accounting hedges and those that are not, and are further segregated by type of contract within those two categories. The total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and any associated cash collateral received or pledged. Table 9.1 : Derivative Assets and Liabilities at Fair Value June 30, 2017 December 31, 2016 Notional or Contractual Amount Derivative (1)(5) Notional or Contractual Amount Derivative (1) (Dollars in millions) Assets Liabilities Assets Liabilities Derivatives designated as accounting hedges: Interest rate contracts: Fair value hedges $ 51,592 $ 124 $ 89 $ 40,480 $ 295 $ 569 Cash flow hedges 58,700 30 89 50,400 151 287 Total interest rate contracts 110,292 154 178 90,880 446 856 Foreign exchange contracts: Cash flow hedges 5,802 0 143 5,620 108 9 Net investment hedges 2,716 1 101 2,396 163 0 Total foreign exchange contracts 8,518 1 244 8,016 271 9 Total derivatives designated as accounting hedges 118,810 155 422 98,896 717 865 Derivatives not designated as accounting hedges: Interest rate contracts covering: MSRs (2) 1,491 11 2 1,696 17 21 Customer accommodation 42,657 571 437 39,474 670 530 Other interest rate exposures (3) 2,837 36 12 1,105 33 8 Total interest rate contracts 46,985 618 451 42,275 720 559 Other contracts 1,055 0 6 1,767 57 14 Total derivatives not designated as accounting hedges 48,040 618 457 44,042 777 573 Total derivatives $ 166,850 $ 773 $ 879 $ 142,938 $ 1,494 $ 1,438 Less: netting adjustment (4) (309 ) (355 ) (539 ) (336 ) Total derivative assets/liabilities $ 464 $ 524 $ 955 $ 1,102 __________ (1) Derivative assets and liabilities presented above exclude valuation adjustments related to non-performance risk. As of June 30, 2017 and December 31, 2016, the cumulative CVA balances were $4 million and $6 million , respectively, and the cumulative DVA balances were less than $1 million as of both June 30, 2017 and December 31, 2016. (2) Includes interest rate swaps and to-be-announced contracts. (3) Includes mortgage-related derivatives. (4) Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. See Table 9.2 for further information. (5) Reflects a reduction of derivative assets of $58 million and a reduction of derivative liabilities of $348 million on our consolidated balance sheets as of June 30, 2017 as a result of adoption of the CME variation margin rule change in the second quarter of 2017. Offsetting of Financial Assets and Liabilities Derivative contracts and repurchase agreements that we execute bilaterally in the OTC market are governed by enforceable master netting arrangements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under netting arrangements for balance sheet presentation where a right of setoff exists. Derivative contracts that are cleared with central clearinghouses through FCMs are not subject to offsetting due to the uncertainty existing around an end-user’s ability to setoff these derivative contracts. Therefore, as of June 30, 2017 and December 31, 2016 , we did not offset our derivative positions cleared through clearinghouses. We also maintain collateral agreements with certain derivative counterparties. For bilateral derivatives, we review our collateral positions on a daily basis and exchange collateral with our counterparties in accordance with standard International Swaps and Derivatives Association documentation and other related agreements. Agreements with certain bilateral counterparties require both parties to maintain collateral in the event the fair values of derivative instruments exceed established exposure thresholds. For centrally cleared derivatives, we are subject to initial margin and daily variation margin posting with the central clearinghouses. Acceptable types of collateral are typically in the form of cash or high quality liquid securities. The exchange of collateral is dependent upon the fair value of the derivative instruments as well as the fair value of the pledged collateral. When valuing collateral, an estimate of the variation in price and liquidity over time is subtracted in the form of a “haircut” to discount the value of the collateral pledged. The following table presents as of June 30, 2017 and December 31, 2016 the gross and net fair values of our derivative assets and liabilities and repurchase agreements, as well as the related offsetting amounts permitted under U.S. GAAP. The table also includes cash and non-cash collateral received or pledged associated with such arrangements. The collateral amounts shown are limited to the extent of the related net derivative fair values or outstanding balances, thus instances of over-collateralization are not shown. Table 9.2 : Offsetting of Financial Assets and Financial Liabilities Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts as Recognized Securities Collateral Held Under Master Netting Agreements (Dollars in millions) Financial Instruments Cash Collateral Received Net Exposure As of June 30, 2017 Derivatives assets (1)(2) $ 773 $ (117 ) $ (192 ) $ 464 $ 0 $ 464 As of December 31, 2016 Derivatives assets (1)(2) 1,494 (152 ) (387 ) 955 (11 ) 944 Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts as Recognized Securities Collateral Pledged Under Master Netting Agreements (Dollars in millions) Financial Instruments Cash Collateral Pledged Net Exposure As of June 30, 2017 Derivatives liabilities (1)(2) $ 879 $ (117 ) $ (238 ) $ 524 $ 0 $ 524 Repurchase agreements (3) 958 0 0 958 (958 ) 0 As of December 31, 2016 Derivatives liabilities (1)(2) 1,438 (152 ) (184 ) 1,102 0 1,102 Repurchase agreements 992 0 0 992 (992 ) 0 __________ (1) Reflects a reduction of derivative assets of $58 million and a reduction of derivative liabilities of $348 million on our consolidated balance sheets as of June 30, 2017 as a result of adoption of the CME variation margin rule change in the second quarter of 2017. (2) We received cash collateral from derivative counterparties totaling $234 million and $448 million as of June 30, 2017 and December 31, 2016 , respectively. We also received securities from derivative counterparties with a fair value of $1 million and $16 million as of June 30, 2017 and December 31, 2016 , respectively, which we have the ability to re-pledge. We posted $837 million and $1.5 billion of cash collateral as of June 30, 2017 and December 31, 2016 , respectively. (3) Represents customer repurchase agreements that mature the next business day. As of June 30, 2017 , we pledged collateral with a fair value of $977 million under these customer repurchase agreements, which were primarily agency RMBS securities. Income Statement Presentation and AOCI Fair Value Hedges and Free-Standing Derivatives The net gains (losses) recognized in earnings related to derivatives in fair value hedging relationships and free-standing derivatives are presented below for the three and six months ended June 30, 2017 and 2016 . Table 9.3 : Gains and Losses on Fair Value Hedges and Free-Standing Derivatives Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Derivatives designated as accounting hedges: (1) Fair value interest rate contracts: Gains recognized in earnings on derivatives $ 138 $ 182 $ 93 $ 390 Losses recognized in earnings on hedged items (132 ) (175 ) (93 ) (367 ) Net fair value hedge ineffectiveness gains (losses) 6 7 0 23 Derivatives not designated as accounting hedges: (1) Interest rate contracts covering: MSRs 3 8 3 18 Customer accommodation 6 7 16 12 Other interest rate exposures 14 16 21 31 Total interest rate contracts 23 31 40 61 Other contracts 0 (9 ) 0 (9 ) Total gains on derivatives not designated as accounting hedges 23 22 40 52 Net derivative gains recognized in earnings $ 29 $ 29 $ 40 $ 75 __________ (1) Amounts are recorded in our consolidated statements of income in other non-interest income. Cash Flow and Net Investment Hedges The table below shows the net gains (losses) related to derivatives designated as cash flow hedges and net investment hedges for the three and six months ended June 30, 2017 and 2016 . Table 9.4 : Gains and Losses on Derivatives Designated as Cash Flow Hedges and Net Investment Hedges Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Gains (losses) recorded in AOCI: Cash flow hedges: Interest rate contracts $ 69 $ 192 $ 39 $ 618 Foreign exchange contracts 5 0 9 0 Subtotal 74 192 48 618 Net investment hedges: Foreign exchange contracts (58 ) 122 (80 ) 163 Net derivatives gains (losses) recognized in AOCI $ 16 $ 314 $ (32 ) $ 781 Gains (losses) recorded in earnings: Cash flow hedges: Gains (losses) reclassified from AOCI into earnings: Interest rate contracts (1) $ 24 $ 48 $ 61 $ 98 Foreign exchange contracts (2) 5 1 8 0 Subtotal 29 49 69 98 Gains (losses) recognized in earnings due to ineffectiveness: Interest rate contracts (2) 4 0 3 3 Net derivative gains (losses) recognized in earnings $ 33 $ 49 $ 72 $ 101 __________ (1) Amounts reclassified are recorded in our consolidated statements of income in interest income or interest expense. (2) Amounts are recorded in our consolidated statements of income in other non-interest income or other interest income. In the next 12 months, we expect to reclassify to earnings net after-tax gains of $47 million currently recorded in AOCI as of June 30, 2017 . These amounts will offset the cash flows associated with the hedged forecasted transactions. The maximum length of time over which forecasted transactions were hedged was approximately seven years as of June 30, 2017 . The amount we expect to reclassify into earnings may change as a result of changes in market conditions and ongoing actions taken as part of our overall risk management strategy. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 10—STOCKHOLDERS’ EQUITY Preferred Stock The following table summarizes the Company’s preferred stock issued and outstanding as of June 30, 2017 and December 31, 2016 . Table 10.1 : Preferred Stock Issued and Outstanding (1) Redeemable by Issuer Beginning Per Annum Dividend Rate Dividend Frequency Liquidation Preference per Share Carrying Value (in millions) Series Description Issuance Date Total Shares Outstanding June 30, 2017 December 31, 2016 Series B 6.00% Non-Cumulative August 20, 2012 September 1, 2017 6.00% Quarterly $ 1,000 875,000 $ 853 $ 853 Series C 6.25% Non-Cumulative June 12, 2014 September 1, 2019 6.25 Quarterly 1,000 500,000 484 484 Series D 6.70% Non-Cumulative October 31, 2014 December 1, 2019 6.70 Quarterly 1,000 500,000 485 485 Series E Fixed-to-Floating Rate Non-Cumulative May 14, 2015 June 1, 2020 5.55% through 5/31/2020; Semi-Annually through 5/31/2020; Quarterly thereafter 1,000 1,000,000 988 988 Series F 6.20% Non-Cumulative August 24, 2015 December 1, 2020 6.20 Quarterly 1,000 500,000 484 484 Series G 5.20% Non-Cumulative July 29, 2016 December 1, 2021 5.20 Quarterly 1,000 600,000 583 583 Series H 6.00% Non-Cumulative November 29, 2016 December 1, 2021 6.00 Quarterly 1,000 500,000 483 483 Total $ 4,360 $ 4,360 __________ (1) Except for Series E, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock. Accumulated Other Comprehensive Income The following table presents the changes in AOCI by component for the three and six months ended June 30, 2017 and 2016 . Table 10.2 : Accumulated Other Comprehensive Income Three Months Ended June 30, 2017 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of March 31, 2017 $ 32 $ (598 ) $ (144 ) $ (205 ) $ (19 ) $ (934 ) Other comprehensive income before reclassifications 147 0 74 31 4 256 Amounts reclassified from AOCI into earnings 2 23 (29 ) 0 (1 ) (5 ) Net other comprehensive income (loss) 149 23 45 31 3 251 AOCI as of June 30, 2017 $ 181 $ (575 ) $ (99 ) $ (174 ) $ (16 ) $ (683 ) Six Months Ended June 30, 2017 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of December 31, 2016 $ (4 ) $ (621 ) $ (78 ) $ (222 ) $ (24 ) $ (949 ) Other comprehensive income before reclassifications 183 0 48 48 11 290 Amounts reclassified from AOCI into earnings 2 46 (69 ) 0 (3 ) (24 ) Net other comprehensive income (loss) 185 46 (21 ) 48 8 266 AOCI as of June 30, 2017 $ 181 $ (575 ) $ (99 ) $ (174 ) $ (16 ) $ (683 ) Three Months Ended June 30, 2016 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of March 31, 2016 $ 349 $ (704 ) $ 497 $ (142 ) $ (41 ) $ (41 ) Other comprehensive income (loss) before reclassifications 137 0 192 (30 ) 8 307 Amounts reclassified from AOCI into earnings (1 ) 25 (49 ) 0 0 (25 ) Net other comprehensive income (loss) 136 25 143 (30 ) 8 282 AOCI as of June 30, 2016 $ 485 $ (679 ) $ 640 $ (172 ) $ (33 ) $ 241 Six Months Ended June 30, 2016 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of December 31, 2015 $ 162 $ (725 ) $ 120 $ (143 ) $ (30 ) $ (616 ) Other comprehensive income (loss) before reclassifications 319 0 618 (29 ) (5 ) 903 Amounts reclassified from AOCI into earnings 4 46 (98 ) 0 2 (46 ) Net other comprehensive income (loss) 323 46 520 (29 ) (3 ) 857 AOCI as of June 30, 2016 $ 485 $ (679 ) $ 640 $ (172 ) $ (33 ) $ 241 __________ (1) The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity, which occurred at fair value. These unrealized gains or losses will be amortized over the remaining life of the security with no expected impact on future net income. (2) Includes the impact from hedging instruments designated as net investment hedges. The following table presents the impacts on net income of amounts reclassified from each component of AOCI for the three and six months ended June 30, 2017 and 2016 . Table 10.3 : Reclassifications from AOCI Amount Reclassified from AOCI (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, AOCI Components Affected Income Statement Line Item 2017 2016 2017 2016 Securities available for sale: Non-interest income $ (4 ) $ 1 $ (4 ) $ (7 ) Income tax provision (benefit) (2 ) 0 (2 ) (3 ) Net income (loss) (2 ) 1 (2 ) (4 ) Securities held to maturity: (1) Interest income (37 ) (40 ) (73 ) (73 ) Income tax provision (benefit) (14 ) (15 ) (27 ) (27 ) Net income (loss) (23 ) (25 ) (46 ) (46 ) Cash flow hedges: Interest rate contracts: Interest income 39 78 97 157 Foreign exchange contracts: Interest income 7 1 13 0 Non-interest income 0 0 0 (1 ) Income from continuing operations before income taxes 46 79 110 156 Income tax provision 17 30 41 58 Net income 29 49 69 98 Other: Various (pension and other) 2 0 4 (2 ) Income tax provision 1 0 1 0 Net income 1 0 3 (2 ) Total reclassifications $ 5 $ 25 $ 24 $ 46 __________ (1) The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity, which occurred at fair value. These unrealized gains or losses will be amortized over the remaining life of the security with no expected impact on future net income. The table below summarizes other comprehensive income activity and the related tax impact for the three and six months ended June 30, 2017 and 2016 . Table 10.4 : Other Comprehensive Income (Loss) Three Months Ended June 30, 2017 2016 (Dollars in millions) Before Tax Provision After Tax Before Tax Provision After Tax Other comprehensive income: Net unrealized gains on securities available for sale $ 237 $ 88 $ 149 $ 212 $ 76 $ 136 Net changes in securities held to maturity 37 14 23 41 16 25 Net unrealized gains (losses) on cash flow hedges 72 27 45 227 84 143 Foreign currency translation adjustments (1) (3 ) (34 ) 31 40 70 (30 ) Other 5 2 3 12 4 8 Other comprehensive income $ 348 $ 97 $ 251 $ 532 $ 250 $ 282 Six Months Ended June 30, 2017 2016 (Dollars in millions) Before Tax Provision After Tax Before Tax Provision After Tax Other comprehensive income: Net unrealized gains on securities available for sale $ 283 $ 98 $ 185 $ 508 $ 185 $ 323 Net changes in securities held to maturity 73 27 46 74 28 46 Net unrealized gains (losses) on cash flow hedges (32 ) (11 ) (21 ) 827 307 520 Foreign currency translation adjustments (1) 1 (47 ) 48 66 95 (29 ) Other 12 4 8 (5 ) (2 ) (3 ) Other comprehensive income $ 337 $ 71 $ 266 $ 1,470 $ 613 $ 857 __________ (1) Includes the impact from hedging instruments designated as net investment hedges. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 11—EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings per common share. Table 11.1 : Computation of Basic and Diluted Earnings per Common Share Three Months Ended June 30, Six Months Ended June 30, (Dollars and shares in millions, except per share data) 2017 2016 2017 2016 Income from continuing operations, net of tax $ 1,047 $ 943 $ 1,842 $ 1,961 Income (loss) from discontinued operations, net of tax (11 ) (1 ) 4 (6 ) Net income 1,036 942 1,846 1,955 Dividends and undistributed earnings allocated to participating securities (1) (8 ) (6 ) (13 ) (12 ) Preferred stock dividends (80 ) (65 ) (133 ) (102 ) Net income available to common stockholders $ 948 $ 871 $ 1,700 $ 1,841 Total weighted-average basic shares outstanding 484.0 511.7 483.1 517.6 Effect of dilutive securities: Stock options 2.4 2.0 2.6 1.9 Other contingently issuable shares 1.0 1.2 1.2 1.2 Warrants (2) 0.7 1.6 0.8 1.6 Total effect of dilutive securities 4.1 4.8 4.6 4.7 Total weighted-average diluted shares outstanding 488.1 516.5 487.7 522.3 Basic earnings per common share: Net income from continuing operations $ 1.98 $ 1.70 $ 3.51 $ 3.57 Income (loss) from discontinued operations (0.02 ) 0.00 0.01 (0.01 ) Net income per basic common share $ 1.96 $ 1.70 $ 3.52 $ 3.56 Diluted earnings per common share: (3) Net income from continuing operations $ 1.96 $ 1.69 $ 3.48 $ 3.53 Income (loss) from discontinued operations (0.02 ) 0.00 0.01 (0.01 ) Net income per diluted common share $ 1.94 $ 1.69 $ 3.49 $ 3.52 __________ (1) Dividends and undistributed earnings allocated to participating securities includes undistributed earnings allocated to participating securities using the two-class method under the accounting guidance for computing earnings per share. (2) Represents warrants issued as part of the U.S. Department of Treasury’s Troubled Assets Relief Program (“TARP”). There were 1.4 million and 4.1 million warrants to purchase common stock outstanding as of June 30, 2017 and 2016 , respectively. (3) Excluded from the computation of diluted earnings per share were 310,000 shares related to options with an exercise price of $82.08 to $86.34 , and 266,000 shares related to options with exercise prices ranging from $82.08 to $86.34 for the three and six months ended June 30, 2017 , respectively, and 2.1 million shares related to options with exercise prices ranging from $63.73 to $82.62 , and 2.5 million shares related to options with exercise prices ranging from $63.73 to $88.81 for the three and six months ended June 30, 2016 , respectively, because their inclusion would be anti-dilutive. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 12—FAIR VALUE MEASUREMENT Fair value, also referred to as an exit price, is defined as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date . The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on the markets in which the assets or liabilities trade and whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. The fair value measurement of a financial asset or liability is assigned a level based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are described below: Level 1: Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Valuation is based on observable market-based inputs, other than quoted prices in active markets for identical assets or liabilities, quoted prices in markets that are not active, or models using inputs that are observable or can be corroborated by observable market data of substantially the full term of the assets or liabilities. Level 3: Valuation is generated from techniques that use significant assumptions not observable in the market. Valuation techniques include pricing models, discounted cash flow methodologies or similar techniques. The accounting guidance for fair value measurements requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. The accounting guidance provides for the irrevocable option to elect, on a contract-by-contract basis, to measure certain financial assets and liabilities at fair value at inception of the contract and record any subsequent changes in fair value in earnings. We have not made any material fair value option elections as of or for the periods disclosed herein. The determination and classification of financial instruments in the fair value hierarchy is performed at the end of each reporting period. We consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs. For additional information on the valuation techniques used in estimating the fair value of our financial assets and liabilities on a recurring or nonrecurring basis and for estimating the fair value for financial instruments that are not recorded at fair value, see “Note 17—Fair Value Measurement” in our 2016 Form 10-K. Fair Value Governance and Control We have a governance framework and a number of key controls that are intended to ensure that our fair value measurements are appropriate and reliable. Our governance framework provides for independent oversight and segregation of duties. Our control processes include review and approval of new transaction types, price verification and review of valuation judgments, methods, models, process controls and results. Groups independent of our trading and investing functions participate in the review and validation process. Tasks performed by these groups include periodic verification of fair value measurements to determine if assigned fair values are reasonable, including comparing prices from third-party pricing services to other available market information. Our Fair Value Committee (“FVC”), which includes representation from business areas, Risk Management and Finance divisions, provides guidance and oversight to ensure an appropriate valuation control environment. The FVC regularly reviews and approves our fair valuations to ensure that our valuation practices are consistent with industry standards and adhere to regulatory and accounting guidance. We have a model policy, established by an independent Model Risk Office, which governs the validation of models and related supporting documentation to ensure the appropriate use of models for pricing and fair value measurements. The Model Risk Office validates all models and provides ongoing monitoring of their performance. The fair valuation governance process is set up in a manner that allows the Chairperson of the FVC to escalate valuation disputes that cannot be resolved by the FVC to a more senior committee called the Valuations Advisory Committee (“VAC”) for resolution. The VAC is chaired by the Chief Financial Officer and includes other members of senior management. The VAC is only required to convene to review escalated valuation disputes . Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table displays our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 . During the six months ended June 30, 2017 , we had minimal movements between Levels 1 and 2. Table 12.1 : Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2017 Fair Value Measurements Using Netting Adjustments (1) (Dollars in millions) Level 1 Level 2 Level 3 Total Assets: Securities available for sale: U.S. Treasury securities $ 5,215 $ 0 $ 0 $ — $ 5,215 RMBS 0 28,699 429 — 29,128 CMBS 0 4,909 17 — 4,926 Other ABS 0 627 0 — 627 Other securities 281 934 9 — 1,224 Total securities available for sale 5,496 35,169 455 — 41,120 Other assets: Derivative assets (1)(2) 2 714 57 (309 ) 464 Other (3) 256 0 273 — 529 Total assets $ 5,754 $ 35,883 $ 785 $ (309 ) $ 42,113 Liabilities: Other liabilities: Derivative liabilities (1)(2) $ 1 $ 846 $ 32 $ (355 ) $ 524 Total liabilities $ 1 $ 846 $ 32 $ (355 ) $ 524 December 31, 2016 Fair Value Measurements Using Netting Adjustments (1) (Dollars in millions) Level 1 Level 2 Level 3 Total Assets: Securities available for sale: U.S. Treasury securities $ 5,065 $ 0 $ 0 $ — $ 5,065 RMBS 0 28,731 518 — 29,249 CMBS 0 4,937 51 — 4,988 Other ABS 0 714 0 — 714 Other securities 295 417 9 — 721 Total securities available for sale 5,360 34,799 578 — 40,737 Other assets: Derivative assets (1)(2) 7 1,440 47 (539 ) 955 Other (3) 219 0 281 — 500 Total assets $ 5,586 $ 36,239 $ 906 $ (539 ) $ 42,192 Liabilities: Other liabilities: Derivative liabilities (1)(2) $ 12 $ 1,397 $ 29 $ (336 ) $ 1,102 Total liabilities $ 12 $ 1,397 $ 29 $ (336 ) $ 1,102 __________ (1) Represents balance sheet netting of derivative assets and liabilities, and related payable and receivables for cash collateral held or placed with the same counterparty. See “Note 9—Derivative Instrument and Hedging Activities” for additional information. (2) Does not reflect $3 million and $5 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of June 30, 2017 and December 31, 2016 , respectively. Non-performance risk is included in the derivative assets and liabilities which are part of other assets and liabilities on the consolidated balance sheets and offset through non-interest income in the consolidated statements of income. (3) Other includes consumer MSRs of $85 million and $80 million , retained interests in securitizations of $188 million and $201 million and deferred compensation plan assets of $256 million and $219 million as of June 30, 2017 and December 31, 2016 , respectively. Level 3 Recurring Fair Val ue Rollforward The table below presents a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016 . When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. Table 12.2 : Level 3 Recurring Fair Value Rollforward Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (3) (Dollars in millions) Balance, April 1, 2017 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2017 Assets: Securities available for sale: RMBS $ 449 $ 8 $ 10 $ 0 $ (5 ) $ 0 $ (24 ) $ 159 $ (168 ) $ 429 $ 8 CMBS 78 0 0 0 0 0 (1 ) 0 (60 ) 17 0 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 536 8 10 0 (5 ) 0 (25 ) 159 (228 ) 455 8 Other assets: Derivative assets (4) 53 4 0 0 0 22 (15 ) 0 (7 ) 57 4 Consumer MSRs 86 (5 ) 0 0 0 5 (1 ) 0 0 85 (5 ) Retained interest in securitizations 195 (7 ) 0 0 0 0 0 0 0 188 (7 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (31 ) $ (3 ) $ 0 $ 0 $ 0 $ (7 ) $ 7 $ 0 $ 2 $ (32 ) $ (3 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2016 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2016 (3) (Dollars in millions) Balance, Included (1) Included in OCI Purchases Sales Issuances Settlements Transfers (2) Transfers (2) Balance, June 30, 2016 Assets: Securities available for sale: RMBS $ 505 $ 7 $ 11 $ 59 $ 0 $ 0 $ (31 ) $ 80 $ (76 ) $ 555 $ 8 CMBS 251 0 1 63 0 0 (6 ) 0 (181 ) 128 0 Other ABS 30 0 0 0 0 0 0 0 0 30 0 Other securities 11 0 0 8 0 0 0 0 0 19 0 Total securities available for sale 797 7 12 130 0 0 (37 ) 80 (257 ) 732 8 Other assets: Derivative assets (4) 71 9 0 0 0 30 (15 ) 0 (10 ) 85 9 Consumer MSRs 59 (8 ) 0 0 0 4 (2 ) 0 0 53 (8 ) Retained interest in securitizations 201 2 0 0 0 0 0 0 0 203 2 Liabilities: Other liabilities: Derivative liabilities (4) $ (40 ) $ (15 ) $ 0 $ 0 $ 0 $ (24 ) $ 10 $ 0 $ 2 $ (67 ) $ (15 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Six Months Ended June 30, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (3) (Dollars in millions) Balance, January 1, 2017 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2017 Assets: Securities available for sale: RMBS $ 518 $ 17 $ 18 $ 0 $ (5 ) $ 0 $ (46 ) $ 212 $ (285 ) $ 429 $ 17 CMBS 51 0 0 60 0 0 (2 ) 0 (92 ) 17 0 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 578 17 18 60 (5 ) 0 (48 ) 212 (377 ) 455 17 Other assets: Derivative assets (4) 47 3 0 0 0 40 (25 ) 0 (8 ) 57 3 Consumer MSRs 80 (4 ) 0 0 0 12 (3 ) 0 0 85 (4 ) Retained interest in securitizations 201 (13 ) 0 0 0 0 0 0 0 188 (13 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (29 ) $ (2 ) $ 0 $ 0 $ 0 $ (13 ) $ 10 $ 0 $ 2 $ (32 ) $ (2 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Six Months Ended June 30, 2016 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2016 (3) (Dollars in millions) Balance, Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2016 Assets: Securities available for sale: RMBS $ 504 $ 13 $ 6 $ 59 $ 0 $ 0 $ (48 ) $ 207 $ (186 ) $ 555 $ 14 CMBS 97 0 2 156 0 0 (10 ) 64 (181 ) 128 0 Other ABS 0 0 0 30 0 0 0 0 0 30 0 Other securities 14 0 0 8 0 0 (3 ) 0 0 19 0 Total securities available for sale 615 13 8 253 0 0 (61 ) 271 (367 ) 732 14 Other assets: Derivative assets (4) 57 28 0 0 0 42 (26 ) 0 (16 ) 85 28 Consumer MSRs 68 (20 ) 0 0 0 8 (3 ) 0 0 53 (20 ) Retained interest in securitizations 211 (8 ) 0 0 0 0 0 0 0 203 (8 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (27 ) $ (29 ) $ 0 $ 0 $ 0 $ (31 ) $ 13 $ 0 $ 7 $ (67 ) $ (29 ) __________ (1) Gains (losses) related to Level 3 Consumer MSRs, derivative assets and derivative liabilities, and retained interests in securitizations are reported in other non-interest income, which is a component of non-interest income, in our consolidated statements of income. (2) During the three and six months ended June 30, 2017 and 2016 , the transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these securities as evidenced by wider pricing variations among pricing vendors. Transfers out of Level 3 were primarily driven by the usage of assumptions corroborated by market observable information as evidenced by tighter pricing among multiple pricing sources. (3) The amount presented for unrealized gains (losses) for assets still held as of the reporting date primarily represents impairments of securities available for sale, accretion on certain fixed maturity securities, changes in fair value of derivative instruments and mortgage servicing rights transactions. (4) All Level 3 derivative assets and liabilities are presented on a gross basis and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and the related payables and receivables for cash collateral held or placed with the same counterparty. Significant Level 3 Fair Value Asset and Liability Input Sensitivity Changes in unobservable inputs may have a significant impact on fair value. Certain of these unobservable inputs will, in isolation, have a directionally consistent impact on the fair value of the instrument for a given change in that input. Alternatively, the fair value of the instrument may move in an opposite direction for a given change in another input. In general, an increase in the discount rate, default rates, loss severity and credit spreads, in isolation, would result in a decrease in the fair value measurement. In addition, an increase in default rates would generally be accompanied by a decrease in recovery rates, slower prepayment rates and an increase in liquidity spreads. Techniques and Inputs for Level 3 Fair Value Measurements The following table presents the significant unobservable inputs used to determine the fair values of our Level 3 financial instruments on a recurring basis. We utilize multiple third-party pricing services to obtain fair value for our securities. Several of our third-party pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other third-party pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models. Table 12.3 : Quantitative Information about Level 3 Fair Value Measurements Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at June 30, Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Assets: Securities available for sale: RMBS $ 429 Discounted cash flows (3rd party pricing) Yield 1-9% 5% CMBS 17 Discounted cash flows (3rd party pricing) Yield 3% 3% Other securities 9 Discounted cash flows Yield 2% 2% Other assets: Derivative assets (1) 57 Discounted cash flows Swap rates 2-3% 2% Consumer MSRs 85 Discounted cash flows Total prepayment rate 8-21% 15% Retained interests in securitization (2) 188 Discounted cash flows Life of receivables (months) 2-85 N/A Liabilities: Derivative liabilities (1) $ 32 Discounted cash flows Swap rates 2% 2% Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at December 31, 2016 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Assets: Securities available for sale: RMBS $ 518 Discounted cash flows (3rd party pricing) Yield 0-15% 5% CMBS 51 Discounted cash flows (3rd party pricing) Yield 2% 2% Other securities 9 Discounted cash flows Yield 1-2% 1% Other assets: Derivative assets (1) 47 Discounted cash flows Swap rates 2% 2% Consumer MSRs 80 Discounted cash flows Total prepayment rate 8-20% 15% Retained interests in securitization (2) 201 Discounted cash flows Life of receivables (months) Voluntary prepayment rate 6-87 N/A Liabilities: Derivative liabilities (1) $ 29 Discounted cash flows Swap rates 2% 2% __________ (1) All Level 3 derivative assets and liabilities are presented on a gross basis and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and the related payables and receivables for cash collateral held or placed with the same counterparty. (2) Due to the nature of the various mortgage securitization structures in which we have retained interests, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We are required to measure and recognize certain assets at fair value on a nonrecurring basis on the consolidated balance sheets. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, from the application of lower of cost or fair value accounting or when we evaluate for impairment). The following table presents the carrying value of the assets measured at fair value on a nonrecurring basis and still held as of June 30, 2017 and December 31, 2016 , and for which a nonrecurring fair value measurement was recorded during the six and twelve months then ended: Table 12.4 : Nonrecurring Fair Value Measurements June 30, 2017 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 390 $ 390 Loans held for sale 559 1 560 Other assets (1) 0 35 35 Total $ 559 $ 426 $ 985 December 31, 2016 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 587 $ 587 Loans held for sale 157 0 157 Other assets (1) 0 83 83 Total $ 157 $ 670 $ 827 __________ (1) Other assets includes foreclosed property and repossessed assets of $34 million and long-lived assets held for sale of $1 million as of June 30, 2017 , compared to foreclosed property and repossessed assets of $43 million and long-lived assets held for sale of $40 million as of December 31, 2016 . In the above table, loans held for investment primarily include nonperforming loans for which specific reserves or charge-offs have been recognized. These loans are classified as Level 3, as they are valued based in part on the estimated fair value of the underlying collateral and the non-recoverable rate, which is considered to be a significant unobservable input. Collateral fair value sources include the appraisal value obtained from independent appraisers, broker pricing opinions or other available market information. The non-recoverable rate ranged from 0% to 17% , with a weighted average of 9% , and from 0% to 73% , with a weighted average of 16% , as of June 30, 2017 and December 31, 2016 , respectively. The fair value of the loans held for sale and the other assets classified as Level 3 is determined based on appraisal value or listing price which involves significant judgment; the significant unobservable inputs and related quantitative information are not meaningful to disclose as they vary significantly across properties and collateral. The following table presents total nonrecurring fair value measurements for the period, included in earnings, attributable to the change in fair value relating to assets that are still held at June 30, 2017 and 2016 . Table 12.5 : Nonrecurring Fair Value Measurements Included in Earnings Total Gains (Losses) Six Months Ended June 30, (Dollars in millions) 2017 2016 Loans held for investment $ (116 ) $ (105 ) Loans held for sale (3 ) 0 Other assets (1) (6 ) (6 ) Total $ (125 ) $ (111 ) __________ (1) Other assets includes losses related to foreclosed property, repossessed assets and long-lived assets held for sale. Fair Value of Financial Instruments The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of our financial instruments that are not measured at fair value on a recurring basis on our consolidated balance sheets as of June 30, 2017 and December 31, 2016 . Table 12.6 : Fair Value of Financial Instruments June 30, 2017 Carrying Value Estimated Fair Value Estimated Fair Value Hierarchy (Dollars in millions) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 6,715 $ 6,715 $ 3,352 $ 3,363 $ 0 Restricted cash for securitization investors 300 300 300 0 0 Securities held to maturity 27,720 28,423 199 28,185 39 Net loans held for investment 237,132 241,048 0 0 241,048 Loans held for sale 777 785 0 783 2 Interest receivable 1,346 1,346 0 1,346 0 Other investments (1) 1,481 1,481 0 1,471 10 Financial liabilities: Deposits $ 239,763 $ 240,273 $ 25,953 $ 214,320 $ 0 Securitized debt obligations 18,358 18,477 0 18,477 0 Senior and subordinated notes 28,478 28,937 0 28,937 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 958 958 0 958 0 Other borrowings 2,160 2,114 0 2,114 0 Interest payable 376 376 0 376 0 December 31, 2016 Carrying Value Estimated Fair Value Estimated Fair Value Hierarchy (Dollars in millions) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 9,976 $ 9,976 $ 4,185 $ 5,791 $ 0 Restricted cash for securitization investors 2,517 2,517 2,517 0 0 Securities held to maturity 25,712 26,196 199 25,962 35 Net loans held for investment 239,083 242,935 0 0 242,935 Loans held for sale 1,043 1,038 0 1,038 0 Interest receivable 1,351 1,351 0 1,351 0 Other investments (1) 2,029 2,029 0 2,020 9 Financial liabilities: Deposits $ 236,768 $ 237,082 $ 25,502 $ 211,580 $ 0 Securitized debt obligations 18,826 18,920 0 18,920 0 Senior and subordinated notes 23,431 23,774 0 23,774 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 992 992 0 992 0 Other borrowings 17,211 17,180 0 17,180 0 Interest payable 327 327 0 327 0 __________ (1) Other investments includes FHLB, Federal Reserve stock and cost method investments. These investments are included in other assets on our consolidated balance sheets. |
Business Segments
Business Segments | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 13—BUSINESS SEGMENTS Our principal operations are currently organized into three major business segments, which are defined based on the products and services provided or the type of customer served: Credit Card, Consumer Banking and Commercial Banking. The operations of acquired businesses have been integrated into our existing business segments. Certain activities that are not part of a segment, such as management of our corporate investment portfolio and asset/liability management by our centralized Corporate Treasury group, are included in the Other category. Basis of Presentation We report the results of each of our business segments on a continuing operations basis. See “ Note 2—Discontinued Operations ” for a discussion of our discontinued operations. The results of our individual businesses reflect the manner in which management evaluates performance and makes decisions about funding our operations and allocating resources. Business Segment Reporting Methodology The results of our business segments are intended to present each segment as if it were a stand-alone business. Our internal management and reporting process used to derive our segment results employs various allocation methodologies, including funds transfer pricing, to assign certain balance sheet assets, deposits and other liabilities and their related revenue and expenses directly or indirectly attributable to each business segment. Our funds transfer pricing process provides a funds credit for sources of funds, such as deposits generated by our Consumer Banking and Commercial Banking businesses, and a funds charge for the use of funds by each segment. Due to the integrated nature of our business segments, estimates and judgments have been made in allocating certain revenue and expense items. Transactions between segments are based on specific criteria or approximate third-party rates. We regularly assess the assumptions, methodologies and reporting classifications used for segment reporting, which may result in the implementation of refinements or changes in future periods. We provide additional information on the allocation methodologies used to derive our business segment results in “Note 18—Business Segments” in our 2016 Form 10-K. Segment Results and Reconciliation We may periodically change our business segments or reclassify business segment results based on modifications to our management reporting methodologies or changes in organizational alignment. The following tables present our business segment results for the three and six months ended June 30, 2017 and 2016 , selected balance sheet data as of June 30, 2017 and 2016 , and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits. Table 13.1 : Segment Results and Reconciliation Three Months Ended June 30, 2017 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 3,294 $ 1,578 $ 569 $ 32 $ 5,473 Non-interest income 875 183 183 (10 ) 1,231 Total net revenue 4,169 1,761 752 22 6,704 Provision (benefit) for credit losses 1,397 268 140 (5 ) 1,800 Non-interest expense 1,918 1,059 381 56 3,414 Income (loss) from continuing operations before income taxes 854 434 231 (29 ) 1,490 Income tax provision (benefit) 301 158 85 (101 ) 443 Income from continuing operations, net of tax $ 553 $ 276 $ 146 $ 72 $ 1,047 Loans held for investment $ 101,590 $ 74,973 $ 67,672 $ 67 $ 244,302 Deposits 0 186,607 33,153 20,003 239,763 Three Months Ended June 30, 2016 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 3,045 $ 1,439 $ 559 $ 50 $ 5,093 Non-interest income 859 175 129 (2 ) 1,161 Total net revenue 3,904 1,614 688 48 6,254 Provision (benefit) for credit losses 1,261 204 128 (1 ) 1,592 Non-interest expense 1,883 1,006 343 63 3,295 Income (loss) from continuing operations before income taxes 760 404 217 (14 ) 1,367 Income tax provision (benefit) 276 147 79 (78 ) 424 Income from continuing operations, net of tax $ 484 $ 257 $ 138 $ 64 $ 943 Loans held for investment $ 96,904 $ 71,415 $ 66,202 $ 82 $ 234,603 Deposits 0 176,340 34,281 10,438 221,059 Six Months Ended June 30, 2017 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 6,640 $ 3,095 $ 1,135 $ 77 $ 10,947 Non-interest income 1,613 378 341 (40 ) 2,292 Total net revenue 8,253 3,473 1,476 37 13,239 Provision (benefit) for credit losses 3,114 547 138 (7 ) 3,792 Non-interest expense 3,847 2,101 772 128 6,848 Income (loss) from continuing operations before income taxes 1,292 825 566 (84 ) 2,599 Income tax provision (benefit) 468 301 207 (219 ) 757 Income from continuing operations, net of tax $ 824 $ 524 $ 359 $ 135 $ 1,842 Loans held for investment $ 101,590 $ 74,973 $ 67,672 $ 67 $ 244,302 Deposits 0 186,607 33,153 20,003 239,763 Six Months Ended June 30, 2016 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 6,078 $ 2,859 $ 1,096 $ 116 $ 10,149 Non-interest income 1,706 366 247 6 2,325 Total net revenue 7,784 3,225 1,343 122 12,474 Provision (benefit) for credit losses 2,332 434 356 (3 ) 3,119 Non-interest expense 3,746 1,996 665 111 6,518 Income (loss) from continuing operations before income taxes 1,706 795 322 14 2,837 Income tax provision (benefit) 613 289 117 (143 ) 876 Income from continuing operations, net of tax $ 1,093 $ 506 $ 205 $ 157 $ 1,961 Loans held for investment $ 96,904 $ 71,415 $ 66,202 $ 82 $ 234,603 Deposits 0 176,340 34,281 10,438 221,059 __________ (1) Some of our tax-related commercial investments generate tax-exempt income or tax credits. Accordingly, we make certain reclassifications within our Commercial Banking business results to present revenues and yields on a taxable-equivalent basis, calculated assuming an effective tax rate approximately equal to our federal statutory tax rate of 35% with offsetting reclassifications to the Other category. |
Commitments, Contingencies, Gua
Commitments, Contingencies, Guarantees, and Others | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies, Guarantees and Others | NOTE 14—COMMITMENTS, CONTINGENCIES, GUARANTEES AND OTHERS Commitments to Lend Our unfunded lending commitments primarily consist of credit card lines, loan commitments to customers of both our Commercial Banking and Consumer Banking businesses, as well as standby and commercial letters of credit. These commitments, other than credit card lines, are legally binding conditional agreements that have fixed expirations or termination dates and specified interest rates and purposes. The contractual amount of these commitments represents the maximum possible credit risk to us should the counterparty draw upon the commitment. We generally manage the potential risk of unfunded lending commitments by limiting the total amount of arrangements, monitoring the size and maturity structure of these portfolios and applying the same credit standards for all of our credit activities. For unused credit card lines, we have not experienced and do not anticipate that all of our customers will access their entire available line at any given point in time. Commitments to extend credit other than credit card lines generally require customers to maintain certain credit standards. Collateral requirements and loan-to-value (“LTV”) ratios are the same as those for funded transactions and are established based on management’s credit assessment of the customer. These commitments may expire without being drawn upon; therefore, the total commitment amount does not necessarily represent future funding requirements. We also issue letters of credit, such as financial standby, performance standby and commercial letters of credit, to meet the financing needs of our customers. Standby letters of credit are conditional commitments issued by us to guarantee the performance of a customer to a third party in a borrowing arrangement. Commercial letters of credit are short-term commitments issued primarily to facilitate trade finance activities for customers and are generally collateralized by the goods being shipped to the client. These collateral requirements are similar to those for funded transactions and are established based on management’s credit assessment of the customer. Management conducts regular reviews of all outstanding letters of credit and the results of these reviews are considered in assessing the adequacy of our allowance for loan and lease losses. The following table presents contractual amount and carrying value of our unfunded lending commitments as of June 30, 2017 and December 31, 2016 . The carrying value represents our reserve and deferred revenue on legally binding commitments. Table 14.1 : Unfunded Lending Commitments: Contractual Amount and Carrying Value Contractual Amount Carrying Value (Dollars in millions) June 30, December 31, June 30, December 31, Standby letter of credit and commercial letter of credit (1) $ 2,050 $ 1,936 $ 43 $ 42 Credit card lines 317,662 312,864 N/A N/A Other loan commitments (2) 29,802 28,402 101 98 Total unfunded lending commitments $ 349,514 $ 343,202 $ 144 $ 140 __________ (1) These financial guarantees have expiration dates ranging from 2017 to 2025 as of June 30, 2017 . (2) Includes $902 million and $699 million of advised lines of credit as of June 30, 2017 and December 31, 2016 , respectively. Loss Sharing Agreements and Other Obligations Within our Commercial Banking business, we originate multifamily commercial real estate loans with the intent to sell them to the GSEs. We enter into loss sharing agreements with the GSEs upon the sale of the loans. At inception, we record a liability representing the fair value of our obligation which is subsequently amortized as we are released from risk of payment under the loss sharing agreement. If payment under the loss sharing agreement becomes probable and estimable, an additional liability may be recorded on the consolidated balance sheets and a non-interest expense may be recognized in the consolidated statements of income. The amount of liability recognized on our consolidated balance sheets for our loss sharing agreements was $51 million and $48 million as of June 30, 2017 and December 31, 2016 , respectively. In certain securitizations in connection with the discontinued manufactured housing operations of GreenPoint Credit, LLC, the third-party servicer has an obligation to exercise mandatory clean-up calls. In the event the third party servicer does not fulfill its obligation to exercise these clean-up calls, the obligation reverts to us. The amount of loan receivables and other assets subject to these clean-up calls is approximately $410 million . Based on our current projections, we expect these securitizations to reach their individual clean-up call thresholds beginning in 2017 and continuing through 2019. According to current information and estimates, we also expect the fair value of the loan receivables and other assets to be less than the contractual amount required to exercise the clean-up calls. We monitor the underlying assets for trends in delinquencies and related losses and review the third party servicer’s financial strength. As of June 30, 2017 , we recorded a liability of $42 million associated with these clean-up call obligations. Our best estimate is that any reasonably possible future losses associated with these clean-up call obligations in excess of the liability recorded are not significant to the Company’s financial position. U.K. Payment Protection Insurance In the U.K., we previously sold payment protection insurance (“PPI”) and other ancillary cross sell products. In response to an elevated level of customer complaints across the industry, heightened media coverage and pressure from consumer advocacy groups, the U.K. Financial Conduct Authority (“FCA”), formerly the Financial Services Authority, investigated and raised concerns about the way the industry has handled complaints related to the sale of these insurance policies. For the past several years, the U.K.’s Financial Ombudsman Service (“FOS”) has been adjudicating customer complaints relating to PPI, escalated to it by consumers who disagree with the rejection of their complaint by firms, leading to customer remediation payments by us and others within the industry. On October 2, 2015, the FCA issued a Statement on PPI (“FCA Proposal”) announcing it has decided to consult on the introduction of a time bar for PPI complaints and on new rules and guidance about how banks should handle unfair relationship PPI complaints covered by s.140A of the Consumer Credit Act of 1974 (“Consumer Credit Act”). On March 2, 2017, the FCA further issued a statement that sets out final rules and guidance on the PPI complaints deadline, which has been set as August 29, 2019. The statement also provides clarity on how to handle PPI complaints under s.140A of the Consumer Credit Act, including guidance on how redress for such complaints should be calculated. In determining our best estimate of incurred losses for future remediation payments, management considers numerous factors, including (i) the number of customer complaints we expect in the future; (ii) our expectation of upholding those complaints; (iii) the expected number of complaints customers escalate to the FOS; (iv) our expectation of the FOS upholding such escalated complaints; (v) the number of complaints that fall under the s.140A of the Consumer Credit Act; and (vi) the estimated remediation payout to customers. We monitor these factors each quarter and adjust our reserves to reflect the latest data. Management’s best estimate of incurred losses related to U.K. PPI totaled $315 million and $238 million as of June 30, 2017 and December 31, 2016 , respectively. The increase in the reserve was primarily driven by an addition of $99 million recorded in the first quarter of 2017. Other movements were due to a combination of utilization of the reserve through customer refund payments and foreign exchange movements. For the three months ended June 30, 2017, no additions were made to our reserve. Our best estimate of reasonably possible future losses beyond our reserve as of June 30, 2017 is approximately $200 million . Mortgage Representation and Warranty Liabilities We acquired three subsidiaries that originated residential mortgage loans and sold these loans to various purchasers, including purchasers who created securitization trusts. These subsidiaries are Capital One Home Loans, LLC, which was acquired in February 2005; GreenPoint, which was acquired in December 2006 as part of the North Fork acquisition; and Chevy Chase Bank, F.S.B. (“CCB”), which was acquired in February 2009 and subsequently merged into CONA (collectively, the “subsidiaries”). In connection with their sales of mortgage loans, the subsidiaries entered into agreements containing varying representations and warranties about, among other things, the ownership of the loan, the validity of the lien securing the loan, the loan’s compliance with any applicable loan criteria established by the purchaser, including underwriting guidelines and the existence of mortgage insurance, and the loan’s compliance with applicable federal, state and local laws. The representations and warranties do not address the credit performance of the mortgage loans, but mortgage loan performance often influences whether a claim for breach of representation and warranty will be asserted and has an effect on the amount of any loss in the event of a breach of a representation or warranty. Each of these subsidiaries may be required to repurchase mortgage loans in the event of certain breaches of these representations and warranties. In the event of a repurchase, the subsidiary is typically required to pay the unpaid principal balance of the loan together with interest and certain expenses (including, in certain cases, legal costs incurred by the purchaser and/or others). The subsidiary then recovers the loan or, if the loan has been foreclosed, the underlying collateral. The subsidiary is exposed to any losses on the repurchased loans, taking into account any recoveries on the collateral. In some instances, rather than repurchase the loans, a subsidiary may agree to make cash payments to make a purchaser whole on losses or to settle repurchase claims, possibly including claims for attorneys’ fees and interest. In addition, our subsidiaries may be required to indemnify certain purchasers and others against losses they incur as a result of certain breaches of representations and warranties. These subsidiaries, in total, originated and sold to non-affiliates approximately $111 billion original principal balance of mortgage loans between 2005 and 2008, which are the years (or “vintages”) with respect to which our subsidiaries have received the vast majority of the repurchase-related requests and other related claims. The following table presents the original principal balance of mortgage loan originations for the three general categories of purchasers of mortgage loans and the estimated unpaid principal balance as of June 30, 2017 and December 31, 2016 . Table 14.2 : Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser Estimated Unpaid Principal Balance Original Principal Balance (Dollars in billions) June 30, December 31, 2005-2008 GSEs $ 1 $ 2 $ 11 Insured Securitizations 3 3 20 Uninsured Securitizations and Other 11 12 80 Total $ 15 $ 17 $ 111 Of the $20 billion in original principal balance of mortgage loans sold directly by our subsidiaries to private-label purchasers who placed the loans into securitizations supported by bond insurance (“Insured Securitizations”), approximately 48% of the original principal balance was covered by bond insurance. Further, approximately $16 billion original principal balance was placed in securitizations as to which the monoline bond insurers have made repurchase-related requests or loan file requests to one of our subsidiaries (“Active Insured Securitizations”) and the remaining approximately $4 billion original principal balance was placed in securitizations as to which the monoline bond insurers have not made repurchase-related requests or loan file requests to one of our subsidiaries (“Inactive Insured Securitizations”). Insured Securitizations often allow the monoline bond insurer to act independently of the investors. Bond insurers typically have indemnity agreements directly with both the mortgage originators and the securitizers, and they often have super-majority rights within the trust documentation that allow them to direct trustees to pursue mortgage repurchase-related requests without coordination with other investors. Because we do not service most of the loans our subsidiaries sold to others, we do not have complete information about the current ownership of a portion of the $80 billion in original principal balance of mortgage loans not sold directly to GSEs or placed in Insured Securitizations. We have determined based on information obtained from third-party databases that about $48 billion original principal balance of these mortgage loans was placed in private-label publicly issued securitizations not supported by bond insurance (“Uninsured Securitizations”). An additional approximately $22 billion original principal balance of mortgage loans were initially sold to private investors as whole loans. Various known and unknown investors purchased the remaining $10 billion original principal balance of mortgage loans. With respect to the $111 billion in original principal balance of mortgage loans originated and sold to others between 2005 and 2008, we estimate that approximately $15 billion in unpaid principal balance remains outstanding as of June 30, 2017 , of which approximately $2 billion in unpaid principal balance is at least 90 days delinquent. Approximately $23 billion in losses have been realized by third parties. Because we do not service most of the loans we sold to others, we do not have complete information about the underlying credit performance levels for some of these mortgage loans. These amounts reflect our best estimates, including extrapolations of underlying credit performance where necessary. These estimates are dependent on the availability of performance data. The subsidiaries had open repurchase-related requests with regard to approximately $652 million original principal balance of mortgage loans as of June 30, 2017 , a decrease of $717 million from $1.4 billion as of December 31, 2016. The substantial majority of remaining repurchase requests are related to ongoing litigation. The repurchase-related requests reflect the original principal balance amounts of the mortgage loans at issue and do not correspond to the losses our subsidiary would incur upon the repurchase of these loans. Total repurchase-related requests include all timely requests ever received by our subsidiaries where the requesting party has not formally rescinded the repurchase-related requests or our subsidiary has not agreed to either repurchase the loan at issue or make the requesting party whole with respect to its losses. We have received relatively few repurchase-related requests subsequent to the New York’s highest court ruling in 2015 that the statute of limitations for repurchase claims begins when the relevant representations and warranties were made, as opposed to some later date during the life of the loan. Additionally, we have received relatively few repurchase-related demands for vintages after 2007, mostly because GreenPoint ceased originating mortgages in August 2007. We established reserves for the $11 billion original principal balance of GSE loans, based on open claims and historic repurchase rates. We have entered into and completed repurchase or settlement agreements with respect to the majority of our repurchase exposure to the GSEs. Our reserves could also be impacted by any claims which may be brought by governmental agencies under the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”), the False Claims Act or other federal or state statutes. For example, GreenPoint and Capital One have received requests for information and/or subpoenas from various governmental regulators and law enforcement authorities, including members of the Residential Mortgage-Backed Securities (“RMBS”) Working Group, relating to the origination of loans for sale to the GSEs and to RMBS participants. We are cooperating with these regulators and other authorities in responding to such requests. For the $16 billion original principal balance in Active Insured Securitizations, our reserving approach is based upon the expected resolution of litigation directed by the monoline bond insurers. Accordingly, our representation and warranty reserves related to Active Insured Securitizations are litigation reserves. In establishing these litigation reserves, we consider the current and future monoline insurer losses inherent within the securitization and apply legal judgment to the developing factual and legal record to estimate the liability for each securitization. We also consider both our own past monoline settlements and publicly available industry monoline settlements in establishing these litigation reserves. Our reserves with respect to the U.S. Bank Litigation, referenced below, are related to Active Insured Securitizations. Further, to the extent we have litigation reserves with respect to indemnification risks from certain representation and warranty lawsuits brought by monoline bond insurers against third-party securitizations sponsors, where one of our subsidiaries provided some or all of the mortgage collateral within the securitization but is not a defendant in the litigation, such reserves are also contained within this category. For the $4 billion original principal balance of mortgage loans in Inactive Insured Securitizations and the $48 billion original principal balance of mortgage loans in Uninsured Securitizations, we establish reserves based on an assessment of probable and estimable legal liability, if any, utilizing both our own experience and publicly available industry settlement information to estimate lifetime liability. In contrast with the bond insurers in the Insured Securitizations, investors in Uninsured Securitizations often face a number of legal and logistical hurdles before they can force a securitization trustee to pursue mortgage repurchases, including the need to coordinate with a certain percentage of investors holding the securities and to indemnify the trustee for any litigation it undertakes. Accordingly, we only reserve for such exposures when a trustee or investor with standing brings claims and it is probable we have incurred a loss. Some Uninsured Securitization investors are currently suing investment banks and securitization sponsors under federal and/or state securities laws. Although we face some indirect indemnity risks from these litigations, we generally have not established reserves with respect to these indemnity risks because we do not consider them to be both probable and reasonably estimable liabilities. In addition, to the extent we have litigation reserves with respect to indemnification risks from certain representation and warranty lawsuits brought by parties who purchased loans from our subsidiaries and subsequently re-sold the loans into securitizations, such reserves are also contained within this category. For the $22 billion original principal balance of mortgage loans sold to private investors as whole loans, we establish reserves based on open claims and historical repurchase rates. The aggregate reserve for all three subsidiaries totaled $521 million as of June 30, 2017 compared to $630 million as of December 31, 2016 . The decrease was primarily due to favorable legal developments . The table below summarizes changes in our representation and warranty reserve for the three and six months ended June 30, 2017 and 2016 . Table 14.3 : Changes in Representation and Warranty Reserve (1) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Representation and warranty reserve, beginning of period $ 516 $ 613 $ 630 $ 610 Provision (benefit) for mortgage representation and warranty losses: Recorded in continuing operations 0 (1 ) (25 ) (2 ) Recorded in discontinued operations 6 2 (61 ) 5 Total provision (benefit) for mortgage representation and warranty losses 6 1 (86 ) 3 Net realized recoveries (losses) (1 ) 0 (23 ) 1 Representation and warranty reserve, end of period $ 521 $ 614 $ 521 $ 614 __________ (1) Reported on our consolidated balance sheets as a component of other liabilities. As part of our business planning processes, we have considered various outcomes relating to the future representation and warranty liabilities of our subsidiaries that are possible but do not rise to the level of being both probable and reasonably estimable outcomes justifying an incremental accrual under applicable accounting standards. Our current best estimate of reasonably possible future losses from representation and warranty claims beyond our reserves as of June 30, 2017 is approximately $1.3 billion , a decrease from our $1.5 billion estimate at December 31, 2016 . The estimate as of June 30, 2017 covers all reasonably possible losses relating to representation and warranty claim activity, including those relating to the cases more specifically described below in Mortgage Repurchase Litigation. In estimating reasonably possible future losses in excess of our current reserves, for Active Insured Securitizations, we assume loss rates on the high end of those observed in monoline settlements or court rulings. For our remaining GSE exposures, Uninsured Securitizations and whole loan exposures, our reasonably possible risk estimates assume lifetime loss rates and claims rates at the highest levels of our past experience and also consider the limited instances of observed settlements. We do not however, based on industry precedent, assume claim rates or loss rates for these risk categories will be as high as those assumed for the Active Insured Securitizations. Should the number of claims or the loss rates on these claims increase significantly, our estimate of reasonably possible risk would increase materially. We also assume that repurchase-related requests will be resolved at discounts reflecting the nature of the claims, the vintage of the underlying loans and evolving legal precedents. Notwithstanding our ongoing attempts to estimate a reasonably possible amount of future losses beyond our current accrual levels based on current information, it is possible that actual future losses will exceed both the current accrual level and our current estimate of the amount of reasonably possible losses. Our reserve and reasonably possible loss estimates involve considerable judgment and reflect that there is still significant uncertainty regarding numerous factors that may impact the ultimate loss levels, including, but not limited to: litigation outcomes; court rulings; governmental enforcement decisions; future repurchase and indemnification claim levels; securitization trustees pursuing mortgage repurchase litigation unilaterally or in coordination with investors; investors successfully pursuing repurchase litigation independently and without the involvement of the trustee as a party; ultimate repurchase and indemnification rates; future mortgage loan performance levels; actual recoveries on the collateral; and macroeconomic conditions (including unemployment levels and housing prices). In light of the significant uncertainty as to the ultimate liability our subsidiaries may incur from these matters, an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period. Litigation In accordance with the current accounting standards for loss contingencies, we establish reserves for litigation related matters that arise from the ordinary course of our business activities when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss can be reasonably estimated. None of the amounts we currently have recorded individually or in the aggregate are considered to be material to our financial condition. Litigation claims and proceedings of all types are subject to many uncertain factors that generally cannot be predicted with assurance. Below we provide a description of potentially material legal proceedings and claims. For some of the matters disclosed below, we are able to determine estimates of potential future outcomes that are not probable and reasonably estimable outcomes justifying either the establishment of a reserve or an incremental reserve build, but which are reasonably possible outcomes. For other disclosed matters, such an estimate is not possible at this time. For those matters below where an estimate is possible (excluding the reasonably possible future losses relating to the Mortgage Repurchase Litigation described below, which are included within the estimate of reasonably possible representation and warranty losses discussed above), management currently estimates the reasonably possible future losses beyond our reserves as of June 30, 2017 is approximately $200 million . Notwithstanding our attempt to estimate a reasonably possible range of loss beyond our current accrual levels for some litigation matters based on current information, it is possible that actual future losses will exceed both the current accrual level and the range of reasonably possible losses disclosed here. Given the inherent uncertainties involved in these matters, especially those involving governmental agencies, and the very large or indeterminate damages sought in some of these matters, there is significant uncertainty as to the ultimate liability we may incur from these litigation matters and an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period. Interchange Litigation In 2005, a number of entities, each purporting to represent a class of retail merchants, filed antitrust lawsuits against MasterCard and Visa and several member banks, including our subsidiaries and us, alleging among other things, that the defendants conspired to fix the level of interchange fees. The complaints seek injunctive relief and civil monetary damages, which could be trebled. Separately, a number of large merchants have asserted similar claims against Visa and MasterCard only (together with the lawsuits described above, “Interchange Lawsuits”). In October 2005, the class and merchant Interchange Lawsuits were consolidated before the U.S. District Court for the Eastern District of New York for certain purposes, including discovery. In July 2012, the parties executed and filed with the court a Memorandum of Understanding agreeing to resolve the litigation on certain terms set forth in a settlement agreement attached to the Memorandum. The class settlement provides for, among other things, (i) payments by defendants to the class and individual plaintiffs totaling approximately $6.6 billion ; (ii) a distribution to the class merchants of an amount equal to 10 basis points of certain interchange transactions for a period of eight months ; and (iii) modifications to certain Visa and MasterCard rules regarding point of sale practices. In December 2013, the district court granted final approval of the proposed class settlement, which was appealed to the Second Circuit Court of Appeals in January 2014. On June 30, 2016, the Second Circuit Court of Appeals vacated the district court’s certification of the class, reversed approval of the proposed class settlement, and remanded the litigation to the district court for further proceedings, ruling that some of the merchants that were part of the proposed class settlement were not adequately represented. Because the Second Circuit ruling remands the litigation to the district court for further proceedings, the ultimate outcome in this matter is uncertain. Several merchant plaintiffs also opted out of the class settlement before it was overturned, and some of those plaintiffs have sued MasterCard, Visa and various member banks, including Capital One. The opt-out cases are consolidated before the U.S. District Court for the Eastern District of New York for certain purposes, including discovery. Visa and MasterCard have settled a number of individual opt-out cases, requiring non-material payments from all banks, including Capital One. Separate settlement and judgment sharing agreements between Capital One, MasterCard and Visa allocate the liabilities of any judgment or settlement arising from the Interchange Lawsuits and associated opt-out cases. Visa created a litigation escrow account following its IPO of stock in 2008, which funds any settlements for its member banks, and any settlements related to MasterCard allocated losses are reflected in Capital One’s reserves. Mortgage Repurchase Litigation In February 2009, GreenPoint was named as a defendant in a lawsuit commenced in the New York County Supreme Court, by U.S. Bank, N. A., Syncora Guarantee Inc. and CIFG Assurance North America, Inc. (“U.S. Bank Litigation”). Plaintiffs allege, among other things, that GreenPoint breached certain representations and warranties in two contracts pursuant to which GreenPoint sold approximately 30,000 mortgage loans having an aggregate original principal balance of approximately $ 1.8 billion to a purchaser that ultimately transferred most of these mortgage loans to a securitization trust. Some of the securities issued by the trust were insured by Syncora and CIFG. Plaintiffs seek unspecified damages and an order compelling GreenPoint to repurchase the entire portfolio of 30,000 mortgage loans based on alleged breaches of representations and warranties relating to a limited sampling of loans in the portfolio, or, alternatively, the repurchase of specific mortgage loans to which the alleged breaches of representations and warranties relate. In March 2010, the court granted GreenPoint’s motion to dismiss with respect to plaintiffs Syncora and CIFG but denied the motion with respect to U.S. Bank. GreenPoint subsequently answered the complaint with respect to U.S. Bank, denying the allegations, and filed a counterclaim against U.S. Bank alleging breach of covenant of good faith and fair dealing. In February 2012, the court denied plaintiffs’ motion for leave to file an amended complaint and dismissed Syncora and CIFG from the case. Syncora and CIFG appealed their dismissal to the New York Supreme Court, Appellate Division, First Department (“First Department”), which affirmed the dismissal in April 2013. The New York Court of Appeals denied Syncora’s and CIFG’s motion for leave to appeal the First Department’s decision in February 2014. Therefore, the case is now proceeding with U.S. Bank as the sole plaintiff. In May, June and July 2012, the Federal Housing Finance Agency (“FHFA”) (acting as conservator for Freddie Mac) filed three summonses with notice in the New York state court against GreenPoint, on behalf of the trustees for three RMBS trusts backed by loans originated by GreenPoint with an aggregate original principal balance of $3.4 billion . In January 2013, the plaintiffs filed an amended consolidated complaint in the name of the three trusts, acting by the respective trustees, alleging breaches of contractual representations and warranties regarding compliance with GreenPoint underwriting guidelines relating to certain loans (“FHFA Litigation”). Plaintiffs seek specific performance of the repurchase obligations with respect to the loans for which they have provided notice of alleged breaches as well as all other allegedly breaching loans, rescissory damages, indemnification, costs and interest. On March 29, 2017, the trial court granted GreenPoint’s motion for summary judgment and dismissed plaintiff’s claims as untimely. In May 2017, the plaintiff appealed the dismissal to the Second Circuit. As noted above in the section entitled Mortgage Representation and Warranty Liabilities, the Company’s subsidiaries establish reserves with respect to representation and warranty litigation matters, where appropriate, within the Company’s overall representation and warranty reserves. Anti-Money Laundering Capital One is being investigated by the New York District Attorney’s Office (“NYDA”), the Department of Justice and the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of Treasury with respec |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation and Use of Estimates The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). |
Use of Estimates | The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. While management makes its best judgment, actual amounts or results could differ from these estimates. In the opinion of management, all normal, recurring adjustments have been included for a fair statement of this interim financial information. Certain prior period amounts have been reclassified to conform to the current period presentation. |
Principles of Consolidation | Principles of Consolidation The unaudited consolidated financial statements include the accounts of Capital One Financial Corporation and all other entities in which we have a controlling financial interest. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity (“VIE”). All significant intercompany account balances and transactions have been eliminated. |
New Accounting Standards Adopted | Newly Adopted Accounting Standards Restricted Cash In November 2016 , the Financial Accounting Standards Board (“FASB”) issued revised guidance that requires restricted cash and restricted cash equivalents to be included within beginning and ending total cash amounts reported in the consolidated statements of cash flows. Disclosure of the nature of the restrictions on cash balances is required under the guidance. We have elected to early adopt the guidance retrospectively effective as of January 1, 2017. Upon adoption, changes in restricted cash, which had previously been presented as financing activities, are now included within beginning and ending Cash, cash equivalents and restricted cash for securitization investors balances. The Cash, cash equivalents and restricted cash for securitization investors balances presented in the consolidated statements of cash flows are comprised of the amounts captioned on the consolidated balance sheets as Total cash and cash equivalents and Restricted cash for securitization investors. Improvements to Employee Share-Based Accounting In March 2016, the FASB issued revised guidance for accounting for employee share-based payments. The guidance requires that all excess tax benefits and tax deficiencies that pertain to employee stock-based incentive payments be recognized as income tax expense or benefit in the consolidated statements of income, rather than within additional paid-in capital; and that excess tax benefits be classified as an operating activity rather than financing activity in the consolidated statements of cash flows. The guidance also permits an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. We adopted the guidance effective in the first quarter of 2017 on a prospective basis related to recognition of excess tax benefits and deficiencies in the consolidated statements of income and presentation of excess tax benefits in the consolidated statements of cash flows. In addition, we made an accounting policy election to account for forfeitures of awards as they occur and applied a modified retrospective transition method. Our adoption of this guidance did not have a material impact to our consolidated financial statements. Recently Issued but Not Yet Adopted Accounting Standards Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued revised guidance to shorten the amortization period to the earliest call date for certain purchased callable debt securities held at a premium. There is no change for accounting for securities held at a discount. Under the existing guidance, the premium is generally amortized as an adjustment to interest income over the contractual life of the debt security. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. This guidance is effective for us on January 1, 2019, with early adoption permitted, through a modified retrospective method. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued revised guidance which is intended to reduce the cost and complexity of testing goodwill for impairment by eliminating the second step from the current goodwill impairment test. Under the existing guidance, step one compares an entity’s reporting unit’s carrying value to its fair value. If the carrying value exceeds fair value, an entity then performs step two, which assigns the fair value across its assets and liabilities, including unrecognized assets and liabilities, following a procedure required in purchase accounting. Under the new guidance, the impairment to a reporting unit’s goodwill is determined based on the amount by which the reporting unit’s carrying value exceeds its fair value, limited to the amount of goodwill allocated to the reporting unit. This impairment method applies to all reporting units, including those with zero or negative carrying amounts of net assets. The guidance is effective for us on January 1, 2020, with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We plan to adopt the standard on its effective date. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued revised guidance for impairments on financial instruments. The guidance requires an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected rather than incurred losses, with an anticipated result of more timely loss recognition. The CECL model is applicable to financial assets measured at amortized cost, lease receivables and certain off-balance sheet arrangements. The CECL model will replace our current accounting for purchased credit-impaired (“PCI”) and impaired loans. The guidance also amends the available for sale (“AFS”) debt securities other-than-temporary impairment (“OTTI”) model. Credit losses (and subsequent recoveries) on AFS debt securities will be recorded through an allowance approach, rather than the current U.S. GAAP practice of permanent write-downs for credit losses and accreting positive changes through interest income over time. This guidance will be effective for us on January 1, 2020, with early adoption permitted no earlier than January 1, 2019. We are currently assessing the potential impact on our consolidated financial statements; however, due to the significant differences in the revised guidance from existing GAAP, the implementation of this guidance may result in material changes in our accounting for credit losses on financial instruments. Leases In February 2016, the FASB issued revised guidance for leases. The guidance requires lessees to recognize right of use assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements for all leases, with certain practical expedients. This will be effective for us on January 1, 2019, with early adoption permitted. We plan to adopt the standard on the effective date. We are currently assessing the potential impact on our consolidated financial statements; however, we expect our total assets and liabilities on our consolidated balance sheet to increase. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued revised guidance for the recognition, measurement, presentation, and disclosure of financial instruments. The main provisions of the guidance include, (i) most equity investments are to be measured at fair value and recorded through net income, except those accounted for under the equity method of accounting, or those that do not have a readily determinable fair value (for which a practical expedient can be elected); (ii) the use of the exit price notion is required when valuing financial instruments for disclosure purposes; (iii) an entity shall present separately in other comprehensive income the portion of the total change in the fair value of a liability under fair value option resulting from a change in the instrument-specific credit risk; (iv) the determination of the need for a valuation allowance on a deferred tax asset related to available-for-sale securities must be made in combination with other deferred tax assets. The guidance eliminates the current classifications of equity securities as trading or available-for-sale and will require separate presentation of financial assets and liabilities by category and form of the financial assets on the face of the consolidated balance sheets or within the accompanying notes. The guidance also eliminates the requirement to disclose the methods and significant assumptions used to estimate fair value of financial instruments measured at amortized cost on the balance sheet. The guidance will be effective January 1, 2018. Early adoption is only permitted for the requirement to present the portion of the total change in fair value attributable to a change in the instrument-specific credit risk in other comprehensive income. We plan on adopting the guidance effective January 1, 2018, and do not expect the guidance to have a material impact on our consolidated financial statements. Revenue from Contracts with Customers In May 2014, the FASB issued revised guidance for the recognition, measurement and disclosure of revenue from contracts with customers. The original guidance has been amended through subsequent accounting standard updates that resulted in technical corrections, improvements, and a one-year deferral of the effective date to January 1, 2018. The guidance, as amended, is applicable to all entities and, once effective, will replace significant portions of existing industry and transaction-specific revenue recognition rules with a more principles-based recognition model. Entities can elect to adopt the guidance either on a full or modified retrospective basis. Most revenue associated with financial instruments, including interest income, loan origination fees and credit card fees, is outside the scope of the guidance. Gains and losses on investment securities, derivatives and sales of financial instruments are similarly excluded from the scope. Our implementation efforts have included identifying revenues and related costs within the scope of this guidance, reviewing the associated contracts and evaluating the related accounting policies and internal controls to determine if any changes will be required. Efforts to evaluate the effect of this guidance, assess changes in our disclosures required by this guidance and consider the adoption methods are ongoing. We have not identified any material changes in the timing of recognition of revenues or expenses. We are still evaluating some changes to the income statement classification of certain credit card-related expenses. We plan to adopt this guidance on the effective date. |
Offsetting of Financial Assets and Liabilities | Offsetting of Financial Assets and Liabilities Derivative contracts and repurchase agreements that we execute bilaterally in the OTC market are governed by enforceable master netting arrangements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under netting arrangements for balance sheet presentation where a right of setoff exists. Derivative contracts that are cleared with central clearinghouses through FCMs are not subject to offsetting due to the uncertainty existing around an end-user’s ability to setoff these derivative contracts. Therefore, as of June 30, 2017 and December 31, 2016 , we did not offset our derivative positions cleared through clearinghouses. We also maintain collateral agreements with certain derivative counterparties. For bilateral derivatives, we review our collateral positions on a daily basis and exchange collateral with our counterparties in accordance with standard International Swaps and Derivatives Association documentation and other related agreements. Agreements with certain bilateral counterparties require both parties to maintain collateral in the event the fair values of derivative instruments exceed established exposure thresholds. For centrally cleared derivatives, we are subject to initial margin and daily variation margin posting with the central clearinghouses. Acceptable types of collateral are typically in the form of cash or high quality liquid securities. The exchange of collateral is dependent upon the fair value of the derivative instruments as well as the fair value of the pledged collateral. When valuing collateral, an estimate of the variation in price and liquidity over time is subtracted in the form of a “haircut” to discount the value of the collateral pledged. |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Summary of Results from Discontinued Operations | The following table summarizes the results from discontinued operations for the three and six months ended June 30, 2017 and 2016 : Table 2.1 : Results of Discontinued Operations Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Income (loss) from discontinued operations before income taxes $ (17 ) $ (2 ) $ 7 $ (10 ) Income tax provision (benefit) (6 ) (1 ) 3 (4 ) Income (loss) from discontinued operations, net of tax $ (11 ) $ (1 ) $ 4 $ (6 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | |
Schedule of Investment Portfolio | The table below presents the overview of our investment securities portfolio as of June 30, 2017 and December 31, 2016 . Table 3.1 : Overview of Investment Securities Portfolio (Dollars in millions) June 30, 2017 December 31, 2016 Securities available for sale, at fair value $ 41,120 $ 40,737 Securities held to maturity, at carrying value 27,720 25,712 Total investment securities $ 68,840 $ 66,449 |
Schedule of Available-for-Sale Securities | The table below presents the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of June 30, 2017 and December 31, 2016 . Table 3.2 : Investment Securities Available for Sale June 30, 2017 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,218 $ 27 $ (30 ) $ 5,215 RMBS: Agency (2) 26,693 110 (292 ) 26,511 Non-agency 2,163 458 (4 ) 2,617 Total RMBS 28,856 568 (296 ) 29,128 CMBS: Agency (2) 3,136 19 (31 ) 3,124 Non-agency 1,777 28 (3 ) 1,802 Total CMBS 4,913 47 (34 ) 4,926 Other ABS (3) 626 1 0 627 Other securities (4) 1,220 4 0 1,224 Total investment securities available for sale $ 40,833 $ 647 $ (360 ) $ 41,120 December 31, 2016 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,103 $ 11 $ (49 ) $ 5,065 RMBS: Agency (2) 26,830 109 (412 ) 26,527 Non-agency 2,349 382 (9 ) 2,722 Total RMBS 29,179 491 (421 ) 29,249 CMBS: Agency (2) 3,335 14 (45 ) 3,304 Non-agency 1,676 21 (13 ) 1,684 Total CMBS 5,011 35 (58 ) 4,988 Other ABS (3) 714 1 (1 ) 714 Other securities (4) 726 1 (6 ) 721 Total investment securities available for sale $ 40,733 $ 539 $ (535 ) $ 40,737 __________ (1) Includes non-credit-related OTTI that is recorded in accumulated other comprehensive income (“AOCI”) of $4 million and $9 million as of June 30, 2017 and December 31, 2016 , respectively. Substantially all of this amount is related to non-agency RMBS. (2) Includes Government National Mortgage Association (“Ginnie Mae”) guaranteed securities, Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) issued securities. (3) ABS collateralized by credit card loans constituted approximately 49% and 57% of the other ABS portfolio as of June 30, 2017 and December 31, 2016 , respectively, and ABS collateralized by auto dealer floor plan inventory loans and leases constituted approximately 23% of the other ABS portfolio as of both June 30, 2017 and December 31, 2016 . (4) Includes supranational bonds, foreign government bonds, mutual funds and equity investments. |
Investment Securities Held to Maturity | The table below presents the amortized cost, carrying value, gross unrealized gains and losses, and fair value of securities held to maturity as of June 30, 2017 and December 31, 2016 . Table 3.3 : Investment Securities Held to Maturity June 30, 2017 (Dollars in millions) Amortized Cost Unrealized Losses Recorded in AOCI (1) Carrying Value Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 199 $ 0 $ 199 $ 0 $ 0 $ 199 Agency RMBS 24,741 (831 ) 23,910 724 (97 ) 24,537 Agency CMBS 3,696 (85 ) 3,611 101 (25 ) 3,687 Total investment securities held to maturity $ 28,636 $ (916 ) $ 27,720 $ 825 $ (122 ) $ 28,423 December 31, 2016 (Dollars in millions) Amortized Cost Unrealized Losses Recorded in AOCI (1) Carrying Value Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 199 $ 0 $ 199 $ 0 $ 0 $ 199 Agency RMBS 23,022 (897 ) 22,125 606 (158 ) 22,573 Agency CMBS 3,480 (92 ) 3,388 77 (41 ) 3,424 Total investment securities held to maturity $ 26,701 $ (989 ) $ 25,712 $ 683 $ (199 ) $ 26,196 __________ (1) Certain investment securities were transferred from the available for sale category to the held to maturity category in 2013. This amount represents the unrealized holding gain or loss at the date of transfer, net of any subsequent accretion. Any bonds purchased into the securities held to maturity portfolio rather than transferred, will not have unrealized losses recognized in AOCI. |
Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position | The table below provides, by major security type, information about our securities available for sale in a gross unrealized loss position and the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2017 and December 31, 2016 . Table 3.4 : Securities in a Gross Unrealized Loss Position June 30, 2017 Less than 12 Months 12 Months or Longer Total (Dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Investment securities available for sale: U.S. Treasury securities $ 1,079 $ (30 ) $ 0 $ 0 $ 1,079 $ (30 ) RMBS: Agency 14,491 (211 ) 4,845 (81 ) 19,336 (292 ) Non-agency 12 0 49 (4 ) 61 (4 ) Total RMBS 14,503 (211 ) 4,894 (85 ) 19,397 (296 ) CMBS: Agency 977 (9 ) 833 (22 ) 1,810 (31 ) Non-agency 374 (3 ) 61 0 435 (3 ) Total CMBS 1,351 (12 ) 894 (22 ) 2,245 (34 ) Other ABS 113 0 17 0 130 0 Other securities 355 0 0 0 355 0 Total investment securities available for sale in a gross unrealized loss position $ 17,401 $ (253 ) $ 5,805 $ (107 ) $ 23,206 $ (360 ) December 31, 2016 Less than 12 Months 12 Months or Longer Total (Dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Investment securities available for sale: U.S. Treasury securities $ 1,060 $ (49 ) $ 0 $ 0 $ 1,060 $ (49 ) RMBS: Agency 16,899 (329 ) 4,865 (83 ) 21,764 (412 ) Non-agency 128 (2 ) 145 (7 ) 273 (9 ) Total RMBS 17,027 (331 ) 5,010 (90 ) 22,037 (421 ) CMBS: Agency 1,624 (21 ) 745 (24 ) 2,369 (45 ) Non-agency 826 (11 ) 129 (2 ) 955 (13 ) Total CMBS 2,450 (32 ) 874 (26 ) 3,324 (58 ) Other ABS 187 (1 ) 21 0 208 (1 ) Other securities 417 (6 ) 0 0 417 (6 ) Total investment securities available for sale in a gross unrealized loss position $ 21,141 $ (419 ) $ 5,905 $ (116 ) $ 27,046 $ (535 ) |
Schedule of Contractual Maturities for Securities | The table below summarizes, by major security type, the expected maturities and weighted-average yields of our investment securities as of June 30, 2017 . Table 3.7 : Expected Maturities and Weighted-Average Yields of Securities June 30, 2017 (Dollars in millions) Due in 1 Year or Less Due > 1 Year through 5 Years Due > 5 Years through 10 Years Due > 10 Years Total Fair value of securities available for sale: U.S. Treasury securities $ 102 $ 847 $ 4,266 $ 0 $ 5,215 RMBS: Agency 177 11,743 14,591 0 26,511 Non-agency 18 1,036 1,268 295 2,617 Total RMBS 195 12,779 15,859 295 29,128 CMBS: Agency 130 1,544 1,450 0 3,124 Non-agency 179 1,064 559 0 1,802 Total CMBS 309 2,608 2,009 0 4,926 Other ABS 348 272 7 0 627 Other securities 216 562 103 343 1,224 Total securities available for sale $ 1,170 $ 17,068 $ 22,244 $ 638 $ 41,120 Amortized cost of securities available for sale $ 1,169 $ 16,884 $ 22,186 $ 594 $ 40,833 Weighted-average yield for securities available for sale (1) 1.36 % 2.45 % 2.45 % 4.96 % 2.45 % Carrying value of securities held to maturity: U.S. Treasury securities $ 199 $ 0 $ 0 $ 0 $ 199 Agency RMBS 28 1,608 17,865 4,409 23,910 Agency CMBS 0 819 1,743 1,049 3,611 Total securities held to maturity $ 227 $ 2,427 $ 19,608 $ 5,458 $ 27,720 Fair value of securities held to maturity $ 225 $ 2,501 $ 20,092 $ 5,605 $ 28,423 Weighted-average yield for securities held to maturity (1) 0.60 % 2.57 % 2.68 % 3.36 % 2.78 % __________ (1) The weighted-average yield represents the effective yield for the investment securities and is calculated based on the amortized cost of each security. |
Schedule of Credit Losses Related to Debt Securities Recognized in Earnings | The table below presents a rollforward of the credit-related OTTI recognized in earnings for the three and six months ended June 30, 2017 and 2016 on investment securities for which we had no intent to sell. Table 3.8 : Credit Impairment Rollforward Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Credit loss component, beginning of period $ 206 $ 204 $ 207 $ 199 Additions: Initial credit impairment 0 1 0 1 Subsequent credit impairment 1 1 1 7 Total additions 1 2 1 8 Reductions due to payoffs, disposals, transfers and other 0 (2 ) (1 ) (3 ) Credit loss component, end of period $ 207 $ 204 $ 207 $ 204 |
Schedule of Gross Realized Gains and Losses on Sale and Redemption of Available-for-Sale Securities Recognized in Earnings | The following table presents the gross realized gains and losses on the sale and redemption of securities available for sale, and the OTTI losses recognized in earnings for the three and six months ended June 30, 2017 and 2016 . We also present the proceeds from the sale of securities available for sale for the periods presented. We did not sell any investment securities that are classified as held to maturity. Table 3.9 : Realized Gains and Losses and OTTI Recognized in Earnings Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Realized gains (losses): Gross realized gains $ 0 $ 3 $ 5 $ 6 Gross realized losses 0 (1 ) (5 ) (4 ) Net realized gains 0 2 0 2 OTTI recognized in earnings: Credit-related OTTI (1 ) (2 ) (1 ) (8 ) Intent-to-sell OTTI (3 ) 0 (3 ) (2 ) Total OTTI recognized in earnings (4 ) (2 ) (4 ) (10 ) Net securities gains (losses) $ (4 ) $ 0 $ (4 ) $ (8 ) Total proceeds from sales $ 235 $ 776 $ 3,123 $ 2,699 |
Schedule of Outstanding Contractual Balance and Carrying Value of Credit-Impaired ING Direct Debt Securities | The table below presents the outstanding balance and carrying value of the purchased credit-impaired debt securities as of June 30, 2017 and December 31, 2016 . Table 3.10 : Outstanding Balance and Carrying Value of Acquired Credit-Impaired Debt Securities (Dollars in millions) June 30, 2017 December 31, 2016 Outstanding balance $ 2,669 $ 2,899 Carrying value 2,221 2,277 |
Schedule of Changes in Accretable Yield of Acquired Securities | The following table presents changes in the accretable yield related to the purchased credit-impaired debt securities for the three and six months ended June 30, 2017 . Table 3.11 : Changes in the Accretable Yield of Purchased Credit-Impaired Debt Securities (Dollars in millions) Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Accretable yield, beginning of period $ 1,118 $ 1,173 Accretion recognized in earnings (49 ) (98 ) Reduction due to payoffs, disposals, transfers and other 1 (3 ) Net reclassifications from nonaccretable difference 23 21 Accretable yield, end of period $ 1,093 $ 1,093 |
Available-for-sale Securities | |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | |
Schedule of Contractual Maturities for Securities | The following tables summarize the remaining scheduled contractual maturities, assuming no prepayments, of our investment securities as of June 30, 2017 . Table 3.5 : Contractual Maturities of Securities Available for Sale June 30, 2017 (Dollars in millions) Amortized Cost Fair Value Due in 1 year or less $ 707 $ 709 Due after 1 year through 5 years 3,159 3,192 Due after 5 years through 10 years 6,572 6,584 Due after 10 years (1) 30,395 30,635 Total $ 40,833 $ 41,120 __________ (1) Investments with no stated maturities, which consist of equity securities, are included with contractual maturities due after 10 years. |
Securities Held to Maturity | |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | |
Schedule of Contractual Maturities for Securities | Table 3.6 : Contractual Maturities of Securities Held to Maturity June 30, 2017 (Dollars in millions) Carrying Value Fair Value Due in 1 year or less $ 199 $ 199 Due after 1 year through 5 years 418 441 Due after 5 years through 10 years 942 987 Due after 10 years 26,161 26,796 Total $ 27,720 $ 28,423 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loan Portfolio Composition and Aging Analysis | The table below presents the composition and an aging analysis of our loans held for investment portfolio as of June 30, 2017 and December 31, 2016 . The delinquency aging includes all past due loans, both performing and nonperforming. Table 4.1 : Loan Portfolio Composition and Aging Analysis June 30, 2017 (Dollars in millions) Current 30-59 Days 60-89 Days > 90 Days Total Delinquent Loans PCI Loans Total Loans Credit Card: Domestic credit card $ 89,493 $ 1,105 $ 726 $ 1,542 $ 3,373 $ 0 $ 92,866 International card businesses 8,415 121 67 121 309 0 8,724 Total credit card 97,908 1,226 793 1,663 3,682 0 101,590 Consumer Banking: Auto 48,733 1,984 833 215 3,032 0 51,765 Home loan 7,203 34 13 126 173 12,348 19,724 Retail banking 3,421 16 5 19 40 23 3,484 Total consumer banking 59,357 2,034 851 360 3,245 12,371 74,973 Commercial Banking: Commercial and multifamily real estate 27,334 39 0 29 68 26 27,428 Commercial and industrial 39,000 51 14 238 303 498 39,801 Total commercial lending 66,334 90 14 267 371 524 67,229 Small-ticket commercial real estate 434 2 1 6 9 0 443 Total commercial banking 66,768 92 15 273 380 524 67,672 Other loans 59 3 0 5 8 0 67 Total loans (1) $ 224,092 $ 3,355 $ 1,659 $ 2,301 $ 7,315 $ 12,895 $ 244,302 % of Total loans 91.73% 1.37% 0.68% 0.94% 2.99 % 5.28% 100.00 % December 31, 2016 (Dollars in millions) Current 30-59 Days 60-89 Days > 90 Days Total Delinquent Loans PCI Loans Total Loans Credit Card: Domestic credit card $ 93,279 $ 1,153 $ 846 $ 1,840 $ 3,839 $ 2 $ 97,120 International card businesses 8,115 124 72 121 317 0 8,432 Total credit card 101,394 1,277 918 1,961 4,156 2 105,552 Consumer Banking: Auto 44,762 2,041 890 223 3,154 0 47,916 Home loan 6,951 44 20 141 205 14,428 21,584 Retail banking 3,477 22 7 20 49 28 3,554 Total consumer banking 55,190 2,107 917 384 3,408 14,456 73,054 Commercial Banking: Commercial and multifamily real estate 26,536 45 0 0 45 28 26,609 Commercial and industrial 38,831 27 84 297 408 585 39,824 Total commercial lending 65,367 72 84 297 453 613 66,433 Small-ticket commercial real estate 473 7 1 2 10 0 483 Total commercial banking 65,840 79 85 299 463 613 66,916 Other loans 56 3 0 5 8 0 64 Total loans (1) $ 222,480 $ 3,466 $ 1,920 $ 2,649 $ 8,035 $ 15,071 $ 245,586 % of Total loans 90.59% 1.41% 0.78% 1.08% 3.27 % 6.14% 100.00 % __________ (1) Loans (other than PCI loans) include unearned income, unamortized premiums and discounts, and unamortized deferred fees and costs totaling $664 million and $558 million as of June 30, 2017 and December 31, 2016 , respectively. |
90 Plus Day Delinquent Loans Accruing Interest and Nonperforming Loans | The following table presents the outstanding balance of loans 90 days or more past due that continue to accrue interest and loans classified as nonperforming as of June 30, 2017 and December 31, 2016 . Table 4.2 : 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans (1) June 30, 2017 December 31, 2016 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Credit Card: Domestic credit card $ 1,542 N/A $ 1,840 N/A International card businesses 108 $ 32 96 $ 42 Total credit card 1,650 32 1,936 42 Consumer Banking: Auto 0 273 0 223 Home loan 0 259 0 273 Retail banking 0 33 0 31 Total consumer banking 0 565 0 527 June 30, 2017 December 31, 2016 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Commercial Banking: Commercial and multifamily real estate $ 0 $ 34 $ 0 $ 30 Commercial and industrial 0 643 0 988 Total commercial lending 0 677 0 1,018 Small-ticket commercial real estate 0 9 0 4 Total commercial banking 0 686 0 1,022 Other loans 0 9 0 8 Total $ 1,650 $ 1,292 $ 1,936 $ 1,599 % of Total loans 0.68% 0.53% 0.79% 0.65% __________ (1) Nonperfor ming loans generally include loans that have been placed on nonaccrual status. PCI loans are excluded from loans reported as 90 days or more past due and accruing interest as well as nonperforming loans. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for additional information on our policies for nonperforming loans. |
Loans and Leases Receivable Disclosure [Line Items] | |
Individually Impaired Loans, Excluding Acquired Loans | The following table presents information about our impaired loans, excluding PCI loans, which are reported separately as of June 30, 2017 , and December 31, 2016 , and for the three and six months ended June 30, 2017 and 2016 . Table 4.9 : Impaired Loans (1) June 30, 2017 (Dollars in millions) With an Allowance Without an Allowance Total Recorded Investment Related Allowance Net Recorded Investment Unpaid Principal Balance Credit Card: Domestic credit card $ 589 $ 0 $ 589 $ 189 $ 400 $ 575 International card businesses 156 0 156 76 80 151 Total credit card (2) 745 0 745 265 480 726 Consumer Banking: Auto (3) 311 172 483 28 455 766 Home loan 235 114 349 18 331 444 Retail banking 48 10 58 10 48 62 Total consumer banking 594 296 890 56 834 1,272 Commercial Banking: Commercial and multifamily real estate 107 30 137 8 129 140 Commercial and industrial 928 192 1,120 133 987 1,551 Total commercial lending 1,035 222 1,257 141 1,116 1,691 Small-ticket commercial real estate 8 0 8 0 8 10 Total commercial banking 1,043 222 1,265 141 1,124 1,701 Total $ 2,382 $ 518 $ 2,900 $ 462 $ 2,438 $ 3,699 December 31, 2016 (Dollars in millions) With an Allowance Without an Allowance Total Recorded Investment Related Allowance Net Recorded Investment Unpaid Principal Balance Credit Card: Domestic credit card $ 581 $ 0 $ 581 $ 174 $ 407 $ 566 International card businesses 134 0 134 65 69 129 Total credit card (2) 715 0 715 239 476 695 Consumer Banking: Auto (3) 316 207 523 24 499 807 Home loan 241 117 358 19 339 464 Retail banking 52 10 62 14 48 65 Total consumer banking 609 334 943 57 886 1,336 Commercial Banking: Commercial and multifamily real estate 83 29 112 7 105 112 Commercial and industrial 1,249 144 1,393 162 1,231 1,444 Total commercial lending 1,332 173 1,505 169 1,336 1,556 Small-ticket commercial real estate 4 0 4 0 4 4 Total commercial banking 1,336 173 1,509 169 1,340 1,560 Total $ 2,660 $ 507 $ 3,167 $ 465 $ 2,702 $ 3,591 Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 (Dollars in millions) Average Interest Average Interest Credit Card: Domestic credit card $ 588 $ 16 $ 586 $ 31 International card businesses 152 2 146 5 Total credit card (2) 740 18 732 36 Consumer Banking: Auto (3) 491 11 501 26 Home loan 342 1 346 2 Retail banking 56 0 58 1 Total consumer banking 889 12 905 29 Commercial Banking: Commercial and multifamily real estate 125 1 121 2 Commercial and industrial 1,173 5 1,246 8 Total commercial lending 1,298 6 1,367 10 Small-ticket commercial real estate 8 0 7 0 Total commercial banking 1,306 6 1,374 10 Total $ 2,935 $ 36 $ 3,011 $ 75 Three Months Ended Six Months Ended June 30, 2016 June 30, 2016 (Dollars in millions) Average Interest Average Interest Credit Card: Domestic credit card $ 521 $ 14 $ 528 $ 28 International card businesses 135 2 132 5 Total credit card (2) 656 16 660 33 Consumer Banking: Auto (3) 494 21 492 43 Home loan 364 1 364 2 Retail banking 60 1 61 1 Total consumer banking 918 23 917 46 Commercial Banking: Commercial and multifamily real estate 128 1 113 2 Commercial and industrial 1,277 3 1,116 5 Total commercial lending 1,405 4 1,229 7 Small-ticket commercial real estate 8 0 7 0 Total commercial banking 1,413 4 1,236 7 Total $ 2,987 $ 43 $ 2,813 $ 86 __________ (1) Impaired loans include loans modified in troubled debt restructurings (“TDRs”), all nonperforming commercial loans and nonperforming home loans with a specific impairment. Impaired loans without an allowance generally represent loans that have been charged down to the fair value of the underlying collateral for which we believe no additional losses have been incurred, or where the fair value of the underlying collateral meets or exceeds the loan’s amortized cost. (2) The period-end and average recorded investments of credit card loans include finance charges and fees. (3) Although certain assets from loan recovery inventory are not reported in our loans held for investment, they are included as impaired loans above since they are reported as TD Rs. |
TDR Disclosures in Progress Financial Impact of Modification | The following tables present the major modification types, recorded investment amounts and financial effects of loans modified in TDRs during the three and six months ended June 30, 2017 and 2016 . Table 4.10 : Troubled Debt Restructurings Total Loans (1)(2) Three Months Ended June 30, 2017 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 87 100% 14.36% 0% 0 0% $ 0 International card businesses 39 100 26.50 0 0 0 0 Total credit card 126 100 18.12 0 0 0 0 Consumer Banking: Auto 61 52 3.65 99 7 0 0 Home loan 6 47 3.14 87 233 5 0 Retail banking 4 18 0.10 59 13 0 0 Total consumer banking 71 49 3.54 96 25 0 0 Commercial Banking: Commercial and multifamily real estate 24 0 0.00 10 4 0 0 Commercial and industrial 134 18 2.23 47 9 0 0 Total commercial lending 158 15 2.23 41 9 0 0 Small-ticket commercial real estate 1 0 0.00 0 0 0 0 Total commercial banking 159 15 2.23 41 9 0 0 Total $ 356 52 13.35 37 17 0 $ 0 Total Loans (1)(2) Six Months Ended June 30, 2017 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 184 100% 14.09% 0% 0 0% $ 0 International card businesses 83 100 26.33 0 0 0 0 Total credit card 267 100 17.92 0 0 0 0 Consumer Banking: Auto 136 52 3.85 93 7 6 7 Home loan 14 54 2.49 83 227 2 0 Retail banking 6 30 1.19 62 11 0 0 Total consumer banking 156 51 3.66 91 25 5 7 Commercial Banking: Commercial and multifamily real estate 26 8 0.02 17 5 0 0 Commercial and industrial 281 9 1.23 32 18 0 0 Total commercial lending 307 9 1.13 31 17 0 0 Small-ticket commercial real estate 1 0 0.00 0 0 0 0 Total commercial banking 308 9 1.13 31 17 0 0 Total $ 731 51 13.68 32 22 0 $ 7 Total Loans (1)(2) Three Months Ended June 30, 2016 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 62 100% 12.81% 0% 0 0% $ 0 International card businesses 33 100 26.01 0 0 0 0 Total credit card 95 100 17.47 0 0 0 0 Consumer Banking: Auto 77 46 3.86 75 7 25 15 Home loan 12 52 2.29 95 252 2 0 Retail banking 4 47 4.10 58 10 35 1 Total consumer banking 93 47 3.64 77 46 22 16 Commercial Banking: Commercial and multifamily real estate 0 0 0.00 0 0 0 0 Commercial and industrial 254 12 0.06 64 25 0 0 Total commercial lending 254 12 0.00 64 25 0 0 Small-ticket commercial real estate 0 0 0.00 0 0 0 0 Total commercial banking 254 12 0.00 64 25 0 0 Total $ 442 38 10.82 53 32 5 $ 16 Total Loans (1)(2) Six Months Ended June 30, 2016 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (3)(4) Average (5) % of (4)(6) Average (7) % of (4)(8) Gross (9) Credit Card: Domestic credit card $ 124 100% 12.83% 0% 0 0% $ 0 International card businesses 69 100 25.83 0 0 0 0 Total credit card 193 100 17.50 0 0 0 0 Consumer Banking: Auto 163 44 3.89 74 7 26 36 Home loan 25 57 2.47 85 250 2 0 Retail banking 7 36 5.02 70 10 20 1 Total consumer banking 195 45 3.69 75 43 22 37 Commercial Banking: Commercial and multifamily real estate 25 0 0.00 100 8 0 0 Commercial and industrial 301 10 0.05 58 23 0 0 Total commercial lending 326 9 0.05 62 21 0 0 Small-ticket commercial real estate 0 0 0.00 0 0 0 0 Total commercial banking 326 9 0.05 61 21 0 0 Total $ 714 43 11.93 49 30 6 $ 37 __________ (1) Represents the recorded investment of total loans modified in TDRs at the end of the quarter in which they were modified. (2) We present the modification types utilized most prevalently across our loan portfolios. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of concession as part of the modification. (3) Represents percentage of loans modified in TDRs during the period that were granted a reduced interest rate. (4) Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types. (5) Represents weighted average interest rate reduction for those loans that received an interest rate concession. (6) Represents percentage of loans modified in TDRs during the period that were granted a maturity date extension. (7) Represents weighted average change in maturity date for those loans that received a maturity date extension. (8) Represents percentage of loans modified in TDRs during the period that were granted forgiveness or forbearance of a portion of their balance. (9) Represents the gross balance forgiven. For loans modified in bankruptcy, the gross balance reduction represents collateral value write-downs associated with the discharge of the borrower’s obligations. TDR—Subsequent Defaults of Completed TDR Modifications The following table presents the type, number and recorded investment amount of loans modified in TDRs that experienced a default during the period and had completed a modification event in the twelve months prior to the default. A default occurs if the loan is either 90 days or more delinquent, has been charged off as of the end of the period presented or has been reclassified from accrual to nonaccrual status. Table 4.11 : TDR — Subsequent Defaults Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 (Dollars in millions) Number of Amount Number of Amount Credit Card: Domestic credit card 13,222 $ 25 26,027 $ 51 International card businesses (1) 13,761 27 25,186 43 Total credit card 26,983 52 51,213 94 Consumer Banking: Auto 2,533 30 4,712 55 Home loan 8 3 19 6 Retail banking 9 2 20 3 Total consumer banking 2,550 35 4,751 64 Commercial Banking: Commercial and multifamily real estate 0 0 0 0 Commercial and industrial 21 89 35 108 Total commercial lending 21 89 35 108 Small-ticket commercial real estate 1 0 2 1 Total commercial banking 22 89 37 109 Total 29,555 $ 176 56,001 $ 267 Three Months Ended Six Months Ended June 30, 2016 June 30, 2016 (Dollars in millions) Number of Amount Number of Amount Credit Card: Domestic credit card 10,231 $ 16 20,825 $ 34 International card businesses (1) 9,972 21 18,785 41 Total credit card 20,203 37 39,610 75 Consumer Banking: Auto 2,061 22 3,913 43 Home loan 13 2 23 3 Retail banking 10 1 25 3 Total consumer banking 2,084 25 3,961 49 Commercial Banking: Commercial and multifamily real estate 0 0 0 0 Commercial and industrial 3 14 20 37 Total commercial lending 3 14 20 37 Small-ticket commercial real estate 2 0 2 0 Total commercial banking 5 14 22 37 Total 22,292 $ 76 43,593 $ 161 __________ (1) In the U.K., regulators require the acceptance of payment plan proposals in which the modified payments may be less than the contractual minimum amount. As a result, loans entering long-term TDR payment programs in the U.K. typically continue to age and ultimately charge off even when fully in compliance with the TDR program terms. |
Outstanding Balance and Carrying Value of Acquired Loans | The table below presents the outstanding balance and the carrying value of PCI loans as of June 30, 2017 and December 31, 2016 . The table also displays loans which would have otherwise been considered impaired at acquisition based on our applicable accounting policies. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for information related to our accounting policies for impaired loans. Table 4.12 : PCI Loans June 30, 2017 December 31, 2016 (Dollars in millions) Total PCI Loans Impaired Loans Non-Impaired Loans Total PCI Loans Impaired Loans Non-Impaired Loans Outstanding balance $ 14,184 $ 2,930 $ 11,254 $ 16,506 $ 3,272 $ 13,234 Carrying value (1) 12,898 2,052 10,846 15,074 2,263 12,811 __________ (1) Includes $31 million of allowance for loan and lease losses for these loans as of both June 30, 2017 and December 31, 2016 . We recorded a $9 million release for credit losses for the six months ended June 30, 2016 . |
Changes in Accretable Yield on Acquired Loans | The following table presents changes in the accretable yield on PCI loans: Table 4.13 : Changes in Accretable Yield on PCI Loans Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (Dollars in millions) Total Impaired Loans Non-Impaired Loans Total PCI Loans Impaired Loans Non-Impaired Loans Accretable yield, beginning of period $ 2,903 $ 988 $ 1,915 $ 3,177 $ 1,064 $ 2,113 Accretion recognized in earnings (155 ) (54 ) (101 ) (321 ) (110 ) (211 ) Reclassifications from/(to) nonaccretable differences (1) 2 (6 ) 8 8 (10 ) 18 Changes in accretable yield for non-credit related changes in expected cash flows (2) (59 ) 64 (123 ) (173 ) 48 (221 ) Accretable yield, end of period $ 2,691 $ 992 $ 1,699 $ 2,691 $ 992 $ 1,699 __________ (1) Represents changes in accretable yield for those loans in pools that are driven primarily by credit performance. (2) Represents changes in accretable yield for those loans in pools that are driven primarily by actual prepayments and changes in estimated prepayments. |
Credit Card Portfolio Segment [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of Concentration Risk, by Risk Factor, Including Delinquency and Performing Status | The table below displays the geographic profile of our credit card loan portfolio as of June 30, 2017 and December 31, 2016 . Table 4.3 : Credit Card Risk Profile by Geographic Region June 30, 2017 December 31, 2016 (Dollars in millions) Amount % of Total (1) Amount % of Total (1) Domestic credit card: California $ 10,629 10.4% $ 11,068 10.5% Texas 6,980 6.9 7,227 6.8 New York 6,780 6.7 7,090 6.7 Florida 6,269 6.2 6,540 6.2 Illinois 4,271 4.2 4,492 4.3 Pennsylvania 3,822 3.8 4,048 3.8 Ohio 3,436 3.4 3,654 3.5 New Jersey 3,313 3.3 3,488 3.3 Michigan 2,994 2.9 3,164 3.0 Other 44,372 43.6 46,349 43.9 Total domestic credit card 92,866 91.4 97,120 92.0 International card businesses: Canada 5,750 5.7 5,594 5.3 United Kingdom 2,974 2.9 2,838 2.7 Total international card businesses 8,724 8.6 8,432 8.0 Total credit card $ 101,590 100.0% $ 105,552 100.0 % __________ (1) P ercentages by geographic region are calculated based on period-end amounts. |
Schedule of Net Charge-Offs | The table below presents net charge-offs for the three and six months ended June 30, 2017 and 2016 . Table 4.4 : Credit Card Net Charge-Offs Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in millions) Amount Rate (1) Amount Rate (1) Amount Rate (1) Amount Rate (1) Net charge-offs: (1) Domestic credit card $ 1,172 5.11% $ 874 4.07% $ 2,368 5.12% $ 1,761 4.12% International card businesses 84 4.08 75 3.54 159 3.88 138 3.39 Total credit card $ 1,256 5.02 $ 949 4.02 $ 2,527 5.02 $ 1,899 4.05 __________ (1) Net charge-offs consist of the unpaid principal balance that we determine to be uncollectible, net of recovered amounts. The net charge-off rate is calculated by dividing annualized net charge-offs by average balance of loans held for investment for the period for each loan category. Net charge-offs and the net charge-off rate are impacted periodically by fluctuations in recoveries, including loan sales. |
Consumer Portfolio Segment [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of Concentration Risk, by Risk Factor, Including Delinquency and Performing Status | The table below displays the geographic profile of our consumer banking loan portfolio, including PCI loans as of June 30, 2017 and December 31, 2016 . Table 4.5 : Consumer Banking Risk Profile by Geographic Region June 30, 2017 December 31, 2016 (Dollars in millions) Amount % of Total (1) Amount % of Total (1) Auto: Texas $ 6,821 9.1% $ 6,304 8.6% California 5,907 7.9 5,448 7.5 Florida 4,334 5.8 3,985 5.5 Georgia 2,657 3.5 2,506 3.4 Louisiana 2,255 3.0 2,159 3.0 Ohio 2,188 2.9 2,017 2.8 Illinois 2,161 2.9 2,065 2.8 Other 25,442 33.9 23,432 32.0 Total auto 51,765 69.0 47,916 65.6 Home loan: California 4,398 5.9 4,993 6.8 New York 2,030 2.7 2,036 2.8 Maryland 1,325 1.8 1,409 1.9 Virginia 1,134 1.5 1,204 1.7 Illinois 1,110 1.5 1,218 1.7 New Jersey 1,041 1.4 1,112 1.5 Louisiana 911 1.2 985 1.3 Other 7,775 10.4 8,627 11.8 Total home loan 19,724 26.4 21,584 29.5 Retail banking: Louisiana 973 1.3 1,010 1.4 New York 936 1.2 941 1.3 Texas 735 1.0 756 1.0 New Jersey 222 0.3 238 0.3 Maryland 185 0.2 190 0.3 Virginia 155 0.2 156 0.2 Other 278 0.4 263 0.4 Total retail banking 3,484 4.6 3,554 4.9 Total consumer banking $ 74,973 100.0% $ 73,054 100.0% __________ (1) Pe rcentages by geographic region are calculated based on period-end amounts. |
Schedule of Net Charge-Offs | The table below presents nonperforming loans in our consumer banking loan portfolio as of June 30, 2017 and December 31, 2016 , as well as net charge-offs for the three and six months ended June 30, 2017 and 2016 . Table 4.6 : Consumer Banking Net Charge-Offs and Nonperforming Loans (1) Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in millions) Amount Rate (2) Amount Rate (2) Amount Rate (2) Amount Rate (2) Net charge-offs: Auto $ 215 1.70% $ 130 1.20% $ 414 1.67% $ 298 1.39% Home loan (3) 2 0.04 5 0.09 4 0.03 8 0.07 Retail banking 15 1.71 11 1.26 32 1.81 23 1.31 Total consumer banking (3) $ 232 1.25 $ 146 0.83 $ 450 1.22 $ 329 0.93 June 30, 2017 December 31, 2016 (Dollars in millions) Amount Rate (4) Amount Rate (4) Nonperforming loans: Auto $ 273 0.53% $ 223 0.47 % Home loan (5) 259 1.31 273 1.26 Retail banking 33 0.96 31 0.86 Total consumer banking (5) $ 565 0.75 $ 527 0.72 __________ (1) In the second quarter of 2017, we implemented changes in accounting estimate impacting our charge-off practices for the treatment of certain loans within our consumer banking loan portfolio . The Auto net charge-offs amount includes approximately $48 million associated with implementing these changes, with an impact to the net charge-off rate of 38 basis points and 19 basis points for the three and six months ended June 30, 2017, respectively. Excluding this impact, the Auto net charge-off rate in those periods would have been 1.32% and 1.48% , respectively. The impact to the Consumer Banking net charge-off rate was 26 basis points and 13 basis points for the three and six months ended June 30, 2017, respectively. Excluding this impact, the Consumer Banking net charge-off rate in those periods would have been 0.99% and 1.09% , respectively. See “ Note 1—Summary of Significant Accounting Policies ” in this Report for additional information. (2) The net charge-off rate is calculated by dividing annualized net charge-offs by average balance of loans held for investment for the period for each loan category. (3) Excluding the impact of PCI loans, the net charge-off rates for our home loan and total consumer banking portfolios were 0.10% and 1.50% , respectively, for the three months ended June 30, 2017 , compared to 0.31% and 1.09% , respectively, for the three months ended June 30, 2016 ; and 0.09% and 1.48% , respectively, for the six months ended June 30, 2017 , compared to 0.24% and 1.24% , respectively, for the six months ended June 30, 2016 . (4) Nonperforming loan rates are calculated based on nonperforming loans for each category divided by period-end total loans held for investment for each respective category. (5) Excluding the impact of PCI loans, the nonperforming loan rates for our home loan and total consumer banking portfolios were 3.50% and 0.90% , respectively, as of June 30, 2017 , compared to 3.81% and 0.90% , respectively, as of December 31, 2016 . |
Consumer Portfolio Segment [Member] | Home loan | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of Concentration of Risk, by Risk Factor | The following table presents the distribution of our home loan portfolio as of June 30, 2017 and December 31, 2016 , based on selected key risk characteristics. Table 4.7 : Home Loan Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type June 30, 2017 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total (2) Amount % of Total (2) Amount % of Total (2) Origination year: (3) < = 2008 $ 1,895 9.6% $ 8,410 42.6% $ 10,305 52.2% 2009 70 0.4 907 4.6 977 5.0 2010 72 0.4 1,280 6.5 1,352 6.9 2011 127 0.6 1,390 7.1 1,517 7.7 2012 795 4.0 209 1.1 1,004 5.1 2013 418 2.1 51 0.3 469 2.4 2014 513 2.6 29 0.1 542 2.7 2015 968 4.9 28 0.1 996 5.0 2016 1,680 8.5 23 0.1 1,703 8.6 2017 838 4.3 21 0.1 859 4.4 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0% Geographic concentration: (4) California $ 992 5.0% $ 3,406 17.3% $ 4,398 22.3% New York 1,412 7.2 618 3.1 2,030 10.3 Maryland 610 3.1 715 3.6 1,325 6.7 Virginia 531 2.7 603 3.1 1,134 5.8 Illinois 136 0.7 974 4.9 1,110 5.6 New Jersey 393 2.0 648 3.3 1,041 5.3 Louisiana 891 4.5 20 0.1 911 4.6 Texas 788 4.0 87 0.4 875 4.4 Florida 169 0.8 661 3.4 830 4.2 Arizona 93 0.5 684 3.5 777 4.0 Other 1,361 6.9 3,932 19.9 5,293 26.8 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0 % Lien type: 1 st lien $ 6,411 32.5% $ 12,102 61.4% $ 18,513 93.9% 2 nd lien 965 4.9 246 1.2 1,211 6.1 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0% Interest rate type: Fixed rate $ 3,645 18.5% $ 1,700 8.6% $ 5,345 27.1% Adjustable rate 3,731 18.9 10,648 54.0 14,379 72.9 Total $ 7,376 37.4% $ 12,348 62.6% $ 19,724 100.0% December 31, 2016 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total (2) Amount % of Total (2) Amount % of Total (2) Origination year: (3) < = 2008 $ 2,166 10.0% $ 9,684 44.9% $ 11,850 54.9% 2009 80 0.4 1,088 5.0 1,168 5.4 2010 82 0.4 1,562 7.2 1,644 7.6 2011 139 0.6 1,683 7.8 1,822 8.4 2012 969 4.5 268 1.2 1,237 5.7 2013 465 2.2 59 0.2 524 2.4 2014 557 2.6 31 0.2 588 2.8 2015 1,024 4.7 30 0.2 1,054 4.9 2016 1,674 7.8 23 0.1 1,697 7.9 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0% Geographic concentration: (4) California $ 976 4.5% $ 4,017 18.6% $ 4,993 23.1% New York 1,343 6.2 693 3.2 2,036 9.4 Maryland 585 2.7 824 3.9 1,409 6.6 Illinois 108 0.5 1,110 5.1 1,218 5.6 Virginia 490 2.3 714 3.3 1,204 5.6 New Jersey 379 1.8 733 3.4 1,112 5.2 Louisiana 962 4.5 23 0.1 985 4.6 Florida 159 0.7 772 3.6 931 4.3 Arizona 89 0.4 799 3.7 888 4.1 Texas 725 3.4 98 0.4 823 3.8 Other 1,340 6.2 4,645 21.5 5,985 27.7 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0 % Lien type: 1 st lien $ 6,182 28.7% $ 14,159 65.5% $ 20,341 94.2% 2 nd lien 974 4.5 269 1.3 1,243 5.8 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0% Interest rate type: Fixed rate $ 3,394 15.8% $ 1,822 8.4% $ 5,216 24.2% Adjustable rate 3,762 17.4 12,606 58.4 16,368 75.8 Total $ 7,156 33.2% $ 14,428 66.8% $ 21,584 100.0% __________ (1) The PCI loan balances with an origination date in the years subsequent to 2012 represent refinancing of previously acquired home loans. (2) Percentages within each risk category are calculated based on period-end amounts. (3) Modified loans are reported in the origination year of the initial borrowing. (4) States listed represent those that have the highest individual concentration of home loans. |
Commercial Banking | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of Concentration of Risk, by Risk Factor | The following table presents the geographic distribution and internal risk ratings of our commercial loan portfolio as of June 30, 2017 and December 31, 2016 . Table 4.8 : Commercial Banking Risk Profile by Geographic Region and Internal Risk Rating June 30, 2017 (Dollars in millions) Commercial and Multifamily Real Estate % of Total (1) Commercial and Industrial % of Total (1) Small-Ticket Commercial Real Estate % of Total (1) Total Commercial Banking % of Total (1) Geographic concentration: (2) Northeast $ 15,636 57.0% $ 8,863 22.3% $ 274 61.9% $ 24,773 36.6% Mid-Atlantic 3,212 11.7 3,896 9.8 16 3.6 7,124 10.5 South 3,924 14.3 15,100 37.9 28 6.3 19,052 28.2 Other 4,656 17.0 11,942 30.0 125 28.2 16,723 24.7 Total $ 27,428 100.0% $ 39,801 100.0% $ 443 100.0% $ 67,672 100.0% Internal risk rating: (3) Noncriticized $ 26,930 98.2% $ 36,439 91.5% $ 433 97.8% $ 63,802 94.3% Criticized performing 438 1.6 2,221 5.6 1 0.2 2,660 3.9 Criticized nonperforming 34 0.1 643 1.6 9 2.0 686 1.0 PCI loans 26 0.1 498 1.3 0 0.0 524 0.8 Total $ 27,428 100.0% $ 39,801 100.0 % $ 443 100.0% $ 67,672 100.0% December 31, 2016 (Dollars in millions) Commercial and Multifamily Real Estate % of Total (1) Commercial and Industrial % of Total (1) Small-Ticket Commercial Real Estate % of Total (1) Total Commercial Banking % of Total (1) Geographic concentration: (2) Northeast $ 15,714 59.0% $ 9,628 24.2% $ 298 61.7% $ 25,640 38.3% Mid-Atlantic 3,024 11.4 3,450 8.7 16 3.3 6,490 9.7 South 4,032 15.2 15,193 38.1 34 7.0 19,259 28.8 Other 3,839 14.4 11,553 29.0 135 28.0 15,527 23.2 Total $ 26,609 100.0% $ 39,824 100.0% $ 483 100.0% $ 66,916 100.0% Internal risk rating: (3) Noncriticized $ 26,309 98.9% $ 36,046 90.5% $ 473 97.9% $ 62,828 93.9% Criticized performing 242 0.9 2,205 5.5 6 1.3 2,453 3.7 Criticized nonperforming 30 0.1 988 2.5 4 0.8 1,022 1.5 PCI loans 28 0.1 585 1.5 0 0.0 613 0.9 Total $ 26,609 100.0% $ 39,824 100.0% $ 483 100.0% $ 66,916 100.0% __________ (1) Percentages calculated based on total loans held for investment in each respective loan category using period-end amounts. (2) Geographic concentration is generally determined by the location of the borrower’s business or the location of the collateral associated with the loan. Northeast consists of CT, MA, ME, NH, NJ, NY, PA and VT. Mid-Atlantic consists of DC, DE, MD, VA and WV. South consists of AL, AR, FL, GA, KY, LA, MO, MS, NC, SC, TN and TX. (3) Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset c ategories defined by banking regulatory authorities. |
Allowance for Loan and Lease 26
Allowance for Loan and Lease Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Allowance for Credit Losses on Financing Receivables | The table below presents the components of our allowance for loan and lease losses by portfolio segment and impairment methodology with the recorded investment of the related loans as of June 30, 2017 and December 31, 2016 . Table 5.2 : Components of Allowance for Loan and Lease Losses by Impairment Methodology June 30, 2017 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated (1) $ 4,945 $ 1,113 $ 616 $ 3 $ 6,677 Asset-specific (2) 265 56 141 0 462 PCI loans (3) 0 30 1 0 31 Total allowance for loan and lease losses $ 5,210 $ 1,199 $ 758 $ 3 $ 7,170 Loans held for investment: Collectively evaluated (1) $ 100,845 $ 61,859 $ 65,883 $ 67 $ 228,654 Asset-specific (2) 745 743 1,265 0 2,753 PCI loans (3) 0 12,371 524 0 12,895 Total loans held for investment $ 101,590 $ 74,973 $ 67,672 $ 67 $ 244,302 Allowance coverage ratio (4) 5.13% 1.60% 1.12% 4.48% 2.93% December 31, 2016 (Dollars in millions) Credit Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated (1) $ 4,367 $ 1,016 $ 622 $ 2 $ 6,007 Asset-specific (2) 239 57 169 0 465 PCI loans (3) 0 29 2 0 31 Total allowance for loan and lease losses $ 4,606 $ 1,102 $ 793 $ 2 $ 6,503 Loans held for investment: Collectively evaluated (1) $ 104,835 $ 57,862 $ 64,794 $ 64 $ 227,555 Asset-specific (2) 715 736 1,509 0 2,960 PCI loans (3) 2 14,456 613 0 15,071 Total loans held for investment $ 105,552 $ 73,054 $ 66,916 $ 64 $ 245,586 Allowance coverage ratio (4) 4.36% 1.51% 1.19% 3.13% 2.65% __________ (1) The component of the allowance for loan and lease losses for credit card and other consumer loans that we collectively evaluate for impairment is based on a statistical calculation supplemented by management judgment and interpretation. The component of the allowance for loan and lease losses for commercial loans that we collectively evaluate for impairment is based on historical loss experience for loans with similar characteristics and consideration of credit quality supplemented by management judgment and interpretation. (2) The asset-specific component of the allowance for loan and lease losses for smaller-balance impaired loans is calculated on a pool basis using historical loss experience for the respective class of assets. The asset-specific component of the allowance for loan and lease losses for larger-balance commercial loans is individually calculated for each loan. (3) The PCI loans component of the allowance for loan and lease losses is accounted for based on expected cash flows. See “ Note 1—Summary of Significant Accounting Policies ” in our 2016 Form 10-K for details on these loans. (4) Allowance coverage ratio is calculated by dividing the period-end allowance for loan and lease losses by period-end loans held for investment within the specified loan category. The table below summarizes changes in the allowance for loan and lease losses and reserve for unfunded lending commitments by portfolio segment for the three and six months ended June 30, 2017 and 2016 . Table 5.1 : Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments Activity Three Months Ended June 30, 2017 (Dollars in millions) Credit Card Consumer Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of March 31, 2017 $ 5,058 $ 1,163 $ 761 $ 2 $ 6,984 Charge-offs (1,572 ) (390 ) (140 ) 0 (2,102 ) Recoveries 316 158 4 6 484 Net charge-offs (1,256 ) (232 ) (136 ) 6 (1,618 ) Provision (benefit) for loan and lease losses 1,397 268 141 (5 ) 1,801 Allowance build (release) for loan and lease losses 141 36 5 1 183 Other changes (2) 11 0 (8 ) 0 3 Balance as of June 30, 2017 5,210 1,199 758 3 7,170 Reserve for unfunded lending commitments: Balance as of March 31, 2017 0 7 133 0 140 Provision (benefit) for losses on unfunded lending commitments 0 0 (1 ) 0 (1 ) Balance as of June 30, 2017 0 7 132 0 139 Combined allowance and reserve as of June 30, 2017 $ 5,210 $ 1,206 $ 890 $ 3 $ 7,309 Six Months Ended June 30, 2017 (Dollars in millions) Credit Card Consumer Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of December 31, 2016 $ 4,606 $ 1,102 $ 793 $ 2 $ 6,503 Charge-offs (3,173 ) (754 ) (166 ) 0 (4,093 ) Recoveries 646 304 7 8 965 Net charge-offs (2,527 ) (450 ) (159 ) 8 (3,128 ) Provision (benefit) for loan and lease losses 3,114 547 135 (7 ) 3,789 Allowance build (release) for loan and lease losses 587 97 (24 ) 1 661 Other changes (2) 17 0 (11 ) 0 6 Balance as of June 30, 2017 5,210 1,199 758 3 7,170 Reserve for unfunded lending commitments: Balance as of December 31, 2016 0 7 129 0 136 Provision (benefit) for losses on unfunded lending commitments 0 0 3 0 3 Balance as of June 30, 2017 0 7 132 0 139 Combined allowance and reserve as of June 30, 2017 $ 5,210 $ 1,206 $ 890 $ 3 $ 7,309 Three Months Ended June 30, 2016 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of March 31, 2016 $ 3,785 $ 914 $ 714 $ 3 $ 5,416 Charge-offs (1,215 ) (248 ) (64 ) (1 ) (1,528 ) Recoveries 266 102 4 1 373 Net charge-offs (949 ) (146 ) (60 ) 0 (1,155 ) Provision (benefit) for loan and lease losses 1,261 204 185 (1 ) 1,649 Allowance build (release) for loan and lease losses 312 58 125 (1 ) 494 Other changes (2) (11 ) 0 (18 ) 0 (29 ) Balance as of June 30, 2016 4,086 972 821 2 5,881 Reserve for unfunded lending commitments: Balance as of March 31, 2016 0 8 218 0 226 Provision (benefit) for losses on unfunded lending commitments 0 0 (57 ) 0 (57 ) Balance as of June 30, 2016 0 8 161 0 169 Combined allowance and reserve as of June 30, 2016 $ 4,086 $ 980 $ 982 $ 2 $ 6,050 Six Months Ended June 30, 2016 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of December 31, 2015 $ 3,654 $ 868 $ 604 $ 4 $ 5,130 Charge-offs (2,437 ) (539 ) (112 ) (2 ) (3,090 ) Recoveries 538 210 6 3 757 Net charge-offs (1,899 ) (329 ) (106 ) 1 (2,333 ) Provision (benefit) for loan and lease losses 2,332 433 356 (3 ) 3,118 Allowance build (release) for loan and lease losses 433 104 250 (2 ) 785 Other changes (2) (1 ) 0 (33 ) 0 (34 ) Balance as of June 30, 2016 4,086 972 821 2 5,881 Reserve for unfunded lending commitments: Balance as of December 31, 2015 0 7 161 0 168 Provision (benefit) for losses on unfunded lending commitments 0 1 0 0 1 Balance as of June 30, 2016 0 8 161 0 169 Combined allowance and reserve as of June 30, 2016 $ 4,086 $ 980 $ 982 $ 2 $ 6,050 __________ (1) Primarily consists of the legacy loan portfolio of our discontinued GreenPoint mortgage operations. (2) Represents foreign currency translation adjustments and the net impact of loan transfers and sales. |
Schedule of Loss sharing arrangement impact | The table below summarizes the changes in the estimated reimbursements from these partners for the three and six months ended June 30, 2017 and 2016 . Table 5.3 : Summary of Loss Sharing Arrangements Impacts Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Estimated reimbursements from loss sharing partners: Balance as of beginning of the period $ 235 $ 197 $ 228 $ 194 Impact to net charge-offs (67 ) (53 ) (132 ) (105 ) Impact to provision for credit losses 95 75 167 130 Balance as of end of the period $ 263 $ 219 $ 263 $ 219 |
Variable Interest Entities an27
Variable Interest Entities and Securitizations (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Variable Interest Entities and Securitization [Abstract] | |
Carrying Amount of Assets and Liabilities of Variable Interest Entities | The table below presents a summary of certain VIEs in which we had continuing involvement or held a variable interest, aggregated based on VIEs with similar characteristics as of June 30, 2017 and December 31, 2016 . We separately present information for consolidated and unconsolidated VIEs. Table 6.1 : Carrying Amount of Consolidated and Unconsolidated VIEs June 30, 2017 Consolidated Unconsolidated (Dollars in millions) Carrying Amount of Assets Carrying Amount of Liabilities Carrying Amount of Assets Carrying Amount of Liabilities Maximum Exposure to Loss Securitization-Related VIEs: Credit card loan securitizations (1) $ 28,934 $ 18,504 $ 0 $ 0 $ 0 Home loan securitizations (2) 0 0 188 69 1,143 Total securitization-related VIEs 28,934 18,504 188 69 1,143 Other VIEs: (3) Affordable housing entities 187 9 4,158 1,266 4,158 Entities that provide capital to low-income and rural communities 1,127 128 0 0 0 Other 0 0 318 0 318 Total other VIEs 1,314 137 4,476 1,266 4,476 Total VIEs $ 30,248 $ 18,641 $ 4,664 $ 1,335 $ 5,619 December 31, 2016 Consolidated Unconsolidated (Dollars in millions) Carrying Amount of Assets Carrying Amount of Liabilities Carrying Amount of Assets Carrying Amount of Liabilities Maximum Exposure to Loss Securitization-Related VIEs: Credit card loan securitizations (1) $ 33,550 $ 19,662 $ 0 $ 0 $ 0 Home loan securitizations (2) 0 0 201 27 1,276 Total securitization-related VIEs 33,550 19,662 201 27 1,276 Other VIEs: (3) Affordable housing entities 174 9 3,862 1,093 3,862 Entities that provide capital to low-income and rural communities 927 127 0 0 0 Other 0 0 187 0 187 Total other VIEs 1,101 136 4,049 1,093 4,049 Total VIEs $ 34,651 $ 19,798 $ 4,250 $ 1,120 $ 5,325 __________ (1) Represents the carrying amount of assets and liabilities owned by the VIE, which includes the seller’s interest and repurchased notes held by other related parties. (2) The carrying amount of assets of unconsolidated securitization-related VIEs consists of retained interests associated with the securitization of option-adjustable rate mortgage (“option-ARM”) loans and letters of credit related to manufactured housing securitizations. These are reported on our consolidated balance sheets within other assets. The carrying amount of liabilities of unconsolidated securitization-related VIEs is comprised of obligations on certain swap agreements associated with the securitizations of manufactured housing loans and other obligations. These are reported on our consolidated balance sheets within other liabilities. (3) In certain investment structures, we consolidate a VIE which in turn holds as its primary asset an investment in an unconsolidated VIE. In these instances, we disclose the carrying amount of assets and liabilities on our consolidated balance sheets in the unconsolidated VIEs to avoid duplicating our exposure, as the unconsolidated VIEs are generally the operating entities generating the exposure. The carrying amount of assets and liabilities included in the unconsolidated VIE columns above related to these investment structures were $2.1 billion of assets and $817 million of liabilities as of June 30, 2017 and $1.9 billion of assets and $618 million of liabilities as of December 31, 2016 . |
External Debt and Receivable Balances of Securitization Programs | The table below presents our continuing involvement in certain securitization-related VIEs as of June 30, 2017 and December 31, 2016 . Table 6.2 : Continuing Involvement in Securitization-Related VIEs Mortgage (Dollars in millions) Credit Card Option- ARM GreenPoint HELOCs GreenPoint Manufactured Housing June 30, 2017: Securities held by third-party investors $ 18,358 $ 1,361 $ 47 $ 641 Receivables in the trust 29,438 1,407 41 646 Cash balance of spread or reserve accounts 0 8 N/A 125 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes (1) No No (2) Amortization event (3) No No No No December 31, 2016: Securities held by third-party investors $ 18,826 $ 1,499 $ 56 $ 697 Receivables in the trust 31,762 1,549 50 702 Cash balance of spread or reserve accounts 0 8 N/A 130 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes (1) No No (2) Amortization event (3) No No No No __________ (1) We continue to service certain option-ARM securitizations. (2) The core servicing activities for the manufactured housing securitizations are completed by a third party. (3) Amortization events vary according to each specific trust agreement but generally are triggered by declines in performance or credit metrics of the underlying assets, such as net charge-off rates or delinquency rates, beyond certain predetermined thresholds. Generally, the occurrence of an amortization event changes the sequencing and amount of trust-related cash flows to the benefit of more senior interest holders. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Components of Goodwill, Intangible Assets and MSRs | The table below displays the components of goodwill, intangible assets and MSRs as of June 30, 2017 and December 31, 2016 . Goodwill is presented separately on our consolidated balance sheets. Intangible assets and MSRs are included in other assets on our consolidated balance sheets. Table 7.1 : Components of Goodwill, Intangible Assets and MSRs June 30, 2017 (Dollars in millions) Carrying (1) Accumulated Amortization (1) Net Goodwill $ 14,524 N/A $ 14,524 Intangible assets: Purchased credit card relationship (“PCCR”) intangibles 2,151 $ (1,802 ) 349 Core deposit intangibles 1,391 (1,360 ) 31 Other (2) 314 (152 ) 162 Total intangible assets 3,856 (3,314 ) 542 Total goodwill and intangible assets $ 18,380 $ (3,314 ) $ 15,066 MSRs: Consumer MSRs (3) $ 85 N/A $ 85 Commercial MSRs (4) 314 $ (102 ) 212 Total MSRs $ 399 $ (102 ) $ 297 December 31, 2016 (Dollars in millions) Carrying (1) Accumulated Amortization (1) Net Goodwill $ 14,519 N/A $ 14,519 Intangible assets: PCCR intangibles 2,151 $ (1,715 ) 436 Core deposit intangibles 1,391 (1,345 ) 46 Other (2) 314 (131 ) 183 Total intangible assets 3,856 (3,191 ) 665 Total goodwill and intangible assets $ 18,375 $ (3,191 ) $ 15,184 MSRs: Consumer MSRs (3) $ 80 N/A $ 80 Commercial MSRs (4) 276 $ (82 ) 194 Total MSRs $ 356 $ (82 ) $ 274 __________ (1) Certain intangible assets that were fully amortized in prior periods were removed from our consolidated balance sheets. (2) Primarily consists of intangibles for sponsorship relationships, brokerage relationship intangibles, partnership and other contract intangibles and trade name intangibles. (3) Represents MSRs related to our Consumer Banking business that are carried at fair value on our consolidated balance sheets. (4) Represents MSRs related to our Commercial Banking business that are subsequently accounted for under the amortization method and periodically assessed for impairment. |
Goodwill Attributable to Business Segments | The following table presents changes in the carrying amount of goodwill as well as goodwill attributable to each of our business segments as of June 30, 2017 and December 31, 2016 . Table 7.2 : Goodwill Attributable to Business Segments (Dollars in millions) Credit Card Consumer Banking Commercial Banking Total Balance as of December 31, 2016 $ 5,018 $ 4,600 $ 4,901 $ 14,519 Other adjustments (1) 5 0 0 5 Balance as of June 30, 2017 $ 5,023 $ 4,600 $ 4,901 $ 14,524 __________ (1) Represent foreign currency translation adjustments. |
Deposits and Borrowings (Tables
Deposits and Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Deposits and Borrowings [Abstract] | |
Components of Deposits, Short-term Borrowings and Long-term Debt | The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of June 30, 2017 and December 31, 2016 . Our total short-term borrowings consist of federal funds purchased and securities loaned or sold under agreements to repurchase. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The carrying value presented below for these borrowings include unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments. Table 8.1 : Components of Deposits, Short-Term Borrowings and Long-Term Debt (Dollars in millions) June 30, December 31, Deposits: Non-interest-bearing deposits $ 25,953 $ 25,502 Interest-bearing deposits 213,810 211,266 Total deposits $ 239,763 $ 236,768 Short-term borrowings: Federal funds purchased and securities loaned or sold under agreements to repurchase $ 958 $ 992 Total short-term borrowings $ 958 $ 992 June 30, 2017 (Dollars in millions) Maturity Dates Interest Rates Weighted- Average Interest Rate Carrying Value December 31, Long-term debt: Securitized debt obligations (1) 2017 - 2025 1.20 - 5.75% 1.88% $ 18,358 $ 18,826 Senior and subordinated notes: (1) Fixed unsecured senior debt 2017 - 2027 1.50 - 6.75 2.76 21,174 17,546 Floating unsecured senior debt 2018 - 2023 1.85 - 2.33 2.08 2,748 1,353 Total unsecured senior debt 2.68 23,922 18,899 Fixed unsecured subordinated debt 2019 - 2026 3.38 - 8.80 4.09 4,556 4,532 Total senior and subordinated notes 28,478 23,431 Other long-term borrowings: FHLB advances 2017 - 2023 1.20 - 5.54 1.24 2,114 17,179 Capital lease obligations 2024 - 2035 3.09 - 12.86 5.90 46 32 Total other long-term borrowings 2,160 17,211 Total long-term debt $ 48,996 $ 59,468 Total short-term borrowings and long-term debt $ 49,954 $ 60,460 __________ (1) Carrying value includes fair value hedge accounting adjustments. |
Schedule of Components of Interest Expense on Short-Term Borrowings and Long-Term Debt | The following table displays interest expense attributable to short-term borrowings and long-term debt for the three and six months ended June 30, 2017 and 2016 : Table 8.2 : Components of Interest Expense on Short-Term Borrowings and Long-Term Debt Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Short-term borrowings: Federal funds purchased and securities loaned or sold under agreements to repurchase $ 1 $ 1 $ 2 $ 2 Total short-term borrowings 1 1 2 2 Long-term debt: Securitized debt obligations (1) 82 47 151 95 Senior and subordinated notes (1) 179 111 328 217 Other long-term borrowings 11 27 35 50 Total long-term debt 272 185 514 362 Total interest expense on short-term borrowings and long-term debt $ 273 $ 186 $ 516 $ 364 _ _________ (1) Interest expense includes the impact from qualifying hedge accounting relationships. |
Derivative Instruments and He30
Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional and Fair Values of Derivative Instruments | The following table summarizes the notional and fair values of our derivative instruments on as of June 30, 2017 and December 31, 2016 , which are segregated by derivatives that are designated as accounting hedges and those that are not, and are further segregated by type of contract within those two categories. The total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and any associated cash collateral received or pledged. Table 9.1 : Derivative Assets and Liabilities at Fair Value June 30, 2017 December 31, 2016 Notional or Contractual Amount Derivative (1)(5) Notional or Contractual Amount Derivative (1) (Dollars in millions) Assets Liabilities Assets Liabilities Derivatives designated as accounting hedges: Interest rate contracts: Fair value hedges $ 51,592 $ 124 $ 89 $ 40,480 $ 295 $ 569 Cash flow hedges 58,700 30 89 50,400 151 287 Total interest rate contracts 110,292 154 178 90,880 446 856 Foreign exchange contracts: Cash flow hedges 5,802 0 143 5,620 108 9 Net investment hedges 2,716 1 101 2,396 163 0 Total foreign exchange contracts 8,518 1 244 8,016 271 9 Total derivatives designated as accounting hedges 118,810 155 422 98,896 717 865 Derivatives not designated as accounting hedges: Interest rate contracts covering: MSRs (2) 1,491 11 2 1,696 17 21 Customer accommodation 42,657 571 437 39,474 670 530 Other interest rate exposures (3) 2,837 36 12 1,105 33 8 Total interest rate contracts 46,985 618 451 42,275 720 559 Other contracts 1,055 0 6 1,767 57 14 Total derivatives not designated as accounting hedges 48,040 618 457 44,042 777 573 Total derivatives $ 166,850 $ 773 $ 879 $ 142,938 $ 1,494 $ 1,438 Less: netting adjustment (4) (309 ) (355 ) (539 ) (336 ) Total derivative assets/liabilities $ 464 $ 524 $ 955 $ 1,102 __________ (1) Derivative assets and liabilities presented above exclude valuation adjustments related to non-performance risk. As of June 30, 2017 and December 31, 2016, the cumulative CVA balances were $4 million and $6 million , respectively, and the cumulative DVA balances were less than $1 million as of both June 30, 2017 and December 31, 2016. (2) Includes interest rate swaps and to-be-announced contracts. (3) Includes mortgage-related derivatives. (4) Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. See Table 9.2 for further information. (5) Reflects a reduction of derivative assets of $58 million and a reduction of derivative liabilities of $348 million on our consolidated balance sheets as of June 30, 2017 as a result of adoption of the CME variation margin rule change in the second quarter of 2017. |
Offsetting Assets | The following table presents as of June 30, 2017 and December 31, 2016 the gross and net fair values of our derivative assets and liabilities and repurchase agreements, as well as the related offsetting amounts permitted under U.S. GAAP. The table also includes cash and non-cash collateral received or pledged associated with such arrangements. The collateral amounts shown are limited to the extent of the related net derivative fair values or outstanding balances, thus instances of over-collateralization are not shown. Table 9.2 : Offsetting of Financial Assets and Financial Liabilities Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts as Recognized Securities Collateral Held Under Master Netting Agreements (Dollars in millions) Financial Instruments Cash Collateral Received Net Exposure As of June 30, 2017 Derivatives assets (1)(2) $ 773 $ (117 ) $ (192 ) $ 464 $ 0 $ 464 As of December 31, 2016 Derivatives assets (1)(2) 1,494 (152 ) (387 ) 955 (11 ) 944 |
Offsetting Liabilities | Gross Amounts Gross Amounts Offset in the Balance Sheet Net Amounts as Recognized Securities Collateral Pledged Under Master Netting Agreements (Dollars in millions) Financial Instruments Cash Collateral Pledged Net Exposure As of June 30, 2017 Derivatives liabilities (1)(2) $ 879 $ (117 ) $ (238 ) $ 524 $ 0 $ 524 Repurchase agreements (3) 958 0 0 958 (958 ) 0 As of December 31, 2016 Derivatives liabilities (1)(2) 1,438 (152 ) (184 ) 1,102 0 1,102 Repurchase agreements 992 0 0 992 (992 ) 0 __________ (1) Reflects a reduction of derivative assets of $58 million and a reduction of derivative liabilities of $348 million on our consolidated balance sheets as of June 30, 2017 as a result of adoption of the CME variation margin rule change in the second quarter of 2017. (2) We received cash collateral from derivative counterparties totaling $234 million and $448 million as of June 30, 2017 and December 31, 2016 , respectively. We also received securities from derivative counterparties with a fair value of $1 million and $16 million as of June 30, 2017 and December 31, 2016 , respectively, which we have the ability to re-pledge. We posted $837 million and $1.5 billion of cash collateral as of June 30, 2017 and December 31, 2016 , respectively. (3) Represents customer repurchase agreements that mature the next business day. As of June 30, 2017 , we pledged collateral with a fair value of $977 million under these customer repurchase agreements, which were primarily agency RMBS securities. |
Fair Value Hedging and Free-Standing Derivatives | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Derivative Instruments, Gain (Loss) | The net gains (losses) recognized in earnings related to derivatives in fair value hedging relationships and free-standing derivatives are presented below for the three and six months ended June 30, 2017 and 2016 . Table 9.3 : Gains and Losses on Fair Value Hedges and Free-Standing Derivatives Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Derivatives designated as accounting hedges: (1) Fair value interest rate contracts: Gains recognized in earnings on derivatives $ 138 $ 182 $ 93 $ 390 Losses recognized in earnings on hedged items (132 ) (175 ) (93 ) (367 ) Net fair value hedge ineffectiveness gains (losses) 6 7 0 23 Derivatives not designated as accounting hedges: (1) Interest rate contracts covering: MSRs 3 8 3 18 Customer accommodation 6 7 16 12 Other interest rate exposures 14 16 21 31 Total interest rate contracts 23 31 40 61 Other contracts 0 (9 ) 0 (9 ) Total gains on derivatives not designated as accounting hedges 23 22 40 52 Net derivative gains recognized in earnings $ 29 $ 29 $ 40 $ 75 __________ (1) Amounts are recorded in our consolidated statements of income in other non-interest income. |
Cash Flow Hedging and Net Investment Hedging | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Derivative Instruments, Gain (Loss) | The table below shows the net gains (losses) related to derivatives designated as cash flow hedges and net investment hedges for the three and six months ended June 30, 2017 and 2016 . Table 9.4 : Gains and Losses on Derivatives Designated as Cash Flow Hedges and Net Investment Hedges Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Gains (losses) recorded in AOCI: Cash flow hedges: Interest rate contracts $ 69 $ 192 $ 39 $ 618 Foreign exchange contracts 5 0 9 0 Subtotal 74 192 48 618 Net investment hedges: Foreign exchange contracts (58 ) 122 (80 ) 163 Net derivatives gains (losses) recognized in AOCI $ 16 $ 314 $ (32 ) $ 781 Gains (losses) recorded in earnings: Cash flow hedges: Gains (losses) reclassified from AOCI into earnings: Interest rate contracts (1) $ 24 $ 48 $ 61 $ 98 Foreign exchange contracts (2) 5 1 8 0 Subtotal 29 49 69 98 Gains (losses) recognized in earnings due to ineffectiveness: Interest rate contracts (2) 4 0 3 3 Net derivative gains (losses) recognized in earnings $ 33 $ 49 $ 72 $ 101 __________ (1) Amounts reclassified are recorded in our consolidated statements of income in interest income or interest expense. (2) Amounts are recorded in our consolidated statements of income in other non-interest income or other interest income. |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Schedule of Preferred Stock | The following table summarizes the Company’s preferred stock issued and outstanding as of June 30, 2017 and December 31, 2016 . Table 10.1 : Preferred Stock Issued and Outstanding (1) Redeemable by Issuer Beginning Per Annum Dividend Rate Dividend Frequency Liquidation Preference per Share Carrying Value (in millions) Series Description Issuance Date Total Shares Outstanding June 30, 2017 December 31, 2016 Series B 6.00% Non-Cumulative August 20, 2012 September 1, 2017 6.00% Quarterly $ 1,000 875,000 $ 853 $ 853 Series C 6.25% Non-Cumulative June 12, 2014 September 1, 2019 6.25 Quarterly 1,000 500,000 484 484 Series D 6.70% Non-Cumulative October 31, 2014 December 1, 2019 6.70 Quarterly 1,000 500,000 485 485 Series E Fixed-to-Floating Rate Non-Cumulative May 14, 2015 June 1, 2020 5.55% through 5/31/2020; Semi-Annually through 5/31/2020; Quarterly thereafter 1,000 1,000,000 988 988 Series F 6.20% Non-Cumulative August 24, 2015 December 1, 2020 6.20 Quarterly 1,000 500,000 484 484 Series G 5.20% Non-Cumulative July 29, 2016 December 1, 2021 5.20 Quarterly 1,000 600,000 583 583 Series H 6.00% Non-Cumulative November 29, 2016 December 1, 2021 6.00 Quarterly 1,000 500,000 483 483 Total $ 4,360 $ 4,360 __________ (1) Except for Series E, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock |
Change in AOCI Gain (Loss) by Component (Net of Tax) | The following table presents the changes in AOCI by component for the three and six months ended June 30, 2017 and 2016 . Table 10.2 : Accumulated Other Comprehensive Income Three Months Ended June 30, 2017 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of March 31, 2017 $ 32 $ (598 ) $ (144 ) $ (205 ) $ (19 ) $ (934 ) Other comprehensive income before reclassifications 147 0 74 31 4 256 Amounts reclassified from AOCI into earnings 2 23 (29 ) 0 (1 ) (5 ) Net other comprehensive income (loss) 149 23 45 31 3 251 AOCI as of June 30, 2017 $ 181 $ (575 ) $ (99 ) $ (174 ) $ (16 ) $ (683 ) Six Months Ended June 30, 2017 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of December 31, 2016 $ (4 ) $ (621 ) $ (78 ) $ (222 ) $ (24 ) $ (949 ) Other comprehensive income before reclassifications 183 0 48 48 11 290 Amounts reclassified from AOCI into earnings 2 46 (69 ) 0 (3 ) (24 ) Net other comprehensive income (loss) 185 46 (21 ) 48 8 266 AOCI as of June 30, 2017 $ 181 $ (575 ) $ (99 ) $ (174 ) $ (16 ) $ (683 ) Three Months Ended June 30, 2016 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of March 31, 2016 $ 349 $ (704 ) $ 497 $ (142 ) $ (41 ) $ (41 ) Other comprehensive income (loss) before reclassifications 137 0 192 (30 ) 8 307 Amounts reclassified from AOCI into earnings (1 ) 25 (49 ) 0 0 (25 ) Net other comprehensive income (loss) 136 25 143 (30 ) 8 282 AOCI as of June 30, 2016 $ 485 $ (679 ) $ 640 $ (172 ) $ (33 ) $ 241 Six Months Ended June 30, 2016 (Dollars in millions) Securities Available for Sale Securities Held to Maturity (1) Cash Flow Hedges Foreign (2) Other Total AOCI as of December 31, 2015 $ 162 $ (725 ) $ 120 $ (143 ) $ (30 ) $ (616 ) Other comprehensive income (loss) before reclassifications 319 0 618 (29 ) (5 ) 903 Amounts reclassified from AOCI into earnings 4 46 (98 ) 0 2 (46 ) Net other comprehensive income (loss) 323 46 520 (29 ) (3 ) 857 AOCI as of June 30, 2016 $ 485 $ (679 ) $ 640 $ (172 ) $ (33 ) $ 241 __________ (1) The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity, which occurred at fair value. These unrealized gains or losses will be amortized over the remaining life of the security with no expected impact on future net income. (2) Includes the impact from hedging instruments designated as net investment hedges. |
Reclassifications from AOCI | The following table presents the impacts on net income of amounts reclassified from each component of AOCI for the three and six months ended June 30, 2017 and 2016 . Table 10.3 : Reclassifications from AOCI Amount Reclassified from AOCI (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, AOCI Components Affected Income Statement Line Item 2017 2016 2017 2016 Securities available for sale: Non-interest income $ (4 ) $ 1 $ (4 ) $ (7 ) Income tax provision (benefit) (2 ) 0 (2 ) (3 ) Net income (loss) (2 ) 1 (2 ) (4 ) Securities held to maturity: (1) Interest income (37 ) (40 ) (73 ) (73 ) Income tax provision (benefit) (14 ) (15 ) (27 ) (27 ) Net income (loss) (23 ) (25 ) (46 ) (46 ) Cash flow hedges: Interest rate contracts: Interest income 39 78 97 157 Foreign exchange contracts: Interest income 7 1 13 0 Non-interest income 0 0 0 (1 ) Income from continuing operations before income taxes 46 79 110 156 Income tax provision 17 30 41 58 Net income 29 49 69 98 Other: Various (pension and other) 2 0 4 (2 ) Income tax provision 1 0 1 0 Net income 1 0 3 (2 ) Total reclassifications $ 5 $ 25 $ 24 $ 46 __________ (1) The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity, which occurred at fair value. These unrealized gains or losses will be amortized over the remaining life of the security with no expected impact on future net |
Components of Other Comprehensive Income (Loss) and Related Tax Impact | The table below summarizes other comprehensive income activity and the related tax impact for the three and six months ended June 30, 2017 and 2016 . Table 10.4 : Other Comprehensive Income (Loss) Three Months Ended June 30, 2017 2016 (Dollars in millions) Before Tax Provision After Tax Before Tax Provision After Tax Other comprehensive income: Net unrealized gains on securities available for sale $ 237 $ 88 $ 149 $ 212 $ 76 $ 136 Net changes in securities held to maturity 37 14 23 41 16 25 Net unrealized gains (losses) on cash flow hedges 72 27 45 227 84 143 Foreign currency translation adjustments (1) (3 ) (34 ) 31 40 70 (30 ) Other 5 2 3 12 4 8 Other comprehensive income $ 348 $ 97 $ 251 $ 532 $ 250 $ 282 Six Months Ended June 30, 2017 2016 (Dollars in millions) Before Tax Provision After Tax Before Tax Provision After Tax Other comprehensive income: Net unrealized gains on securities available for sale $ 283 $ 98 $ 185 $ 508 $ 185 $ 323 Net changes in securities held to maturity 73 27 46 74 28 46 Net unrealized gains (losses) on cash flow hedges (32 ) (11 ) (21 ) 827 307 520 Foreign currency translation adjustments (1) 1 (47 ) 48 66 95 (29 ) Other 12 4 8 (5 ) (2 ) (3 ) Other comprehensive income $ 337 $ 71 $ 266 $ 1,470 $ 613 $ 857 __________ (1) Includes the impact from hedging instruments designated as net investment hedges. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share. Table 11.1 : Computation of Basic and Diluted Earnings per Common Share Three Months Ended June 30, Six Months Ended June 30, (Dollars and shares in millions, except per share data) 2017 2016 2017 2016 Income from continuing operations, net of tax $ 1,047 $ 943 $ 1,842 $ 1,961 Income (loss) from discontinued operations, net of tax (11 ) (1 ) 4 (6 ) Net income 1,036 942 1,846 1,955 Dividends and undistributed earnings allocated to participating securities (1) (8 ) (6 ) (13 ) (12 ) Preferred stock dividends (80 ) (65 ) (133 ) (102 ) Net income available to common stockholders $ 948 $ 871 $ 1,700 $ 1,841 Total weighted-average basic shares outstanding 484.0 511.7 483.1 517.6 Effect of dilutive securities: Stock options 2.4 2.0 2.6 1.9 Other contingently issuable shares 1.0 1.2 1.2 1.2 Warrants (2) 0.7 1.6 0.8 1.6 Total effect of dilutive securities 4.1 4.8 4.6 4.7 Total weighted-average diluted shares outstanding 488.1 516.5 487.7 522.3 Basic earnings per common share: Net income from continuing operations $ 1.98 $ 1.70 $ 3.51 $ 3.57 Income (loss) from discontinued operations (0.02 ) 0.00 0.01 (0.01 ) Net income per basic common share $ 1.96 $ 1.70 $ 3.52 $ 3.56 Diluted earnings per common share: (3) Net income from continuing operations $ 1.96 $ 1.69 $ 3.48 $ 3.53 Income (loss) from discontinued operations (0.02 ) 0.00 0.01 (0.01 ) Net income per diluted common share $ 1.94 $ 1.69 $ 3.49 $ 3.52 __________ (1) Dividends and undistributed earnings allocated to participating securities includes undistributed earnings allocated to participating securities using the two-class method under the accounting guidance for computing earnings per share. (2) Represents warrants issued as part of the U.S. Department of Treasury’s Troubled Assets Relief Program (“TARP”). There were 1.4 million and 4.1 million warrants to purchase common stock outstanding as of June 30, 2017 and 2016 , respectively. (3) Excluded from the computation of diluted earnings per share were 310,000 shares related to options with an exercise price of $82.08 to $86.34 , and 266,000 shares related to options with exercise prices ranging from $82.08 to $86.34 for the three and six months ended June 30, 2017 , respectively, and 2.1 million shares related to options with exercise prices ranging from $63.73 to $82.62 , and 2.5 million shares related to options with exercise prices ranging from $63.73 to $88.81 for the three and six months ended June 30, 2016 , respectively, because their inclusion would be anti-dilutive. |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table displays our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 . During the six months ended June 30, 2017 , we had minimal movements between Levels 1 and 2. Table 12.1 : Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2017 Fair Value Measurements Using Netting Adjustments (1) (Dollars in millions) Level 1 Level 2 Level 3 Total Assets: Securities available for sale: U.S. Treasury securities $ 5,215 $ 0 $ 0 $ — $ 5,215 RMBS 0 28,699 429 — 29,128 CMBS 0 4,909 17 — 4,926 Other ABS 0 627 0 — 627 Other securities 281 934 9 — 1,224 Total securities available for sale 5,496 35,169 455 — 41,120 Other assets: Derivative assets (1)(2) 2 714 57 (309 ) 464 Other (3) 256 0 273 — 529 Total assets $ 5,754 $ 35,883 $ 785 $ (309 ) $ 42,113 Liabilities: Other liabilities: Derivative liabilities (1)(2) $ 1 $ 846 $ 32 $ (355 ) $ 524 Total liabilities $ 1 $ 846 $ 32 $ (355 ) $ 524 December 31, 2016 Fair Value Measurements Using Netting Adjustments (1) (Dollars in millions) Level 1 Level 2 Level 3 Total Assets: Securities available for sale: U.S. Treasury securities $ 5,065 $ 0 $ 0 $ — $ 5,065 RMBS 0 28,731 518 — 29,249 CMBS 0 4,937 51 — 4,988 Other ABS 0 714 0 — 714 Other securities 295 417 9 — 721 Total securities available for sale 5,360 34,799 578 — 40,737 Other assets: Derivative assets (1)(2) 7 1,440 47 (539 ) 955 Other (3) 219 0 281 — 500 Total assets $ 5,586 $ 36,239 $ 906 $ (539 ) $ 42,192 Liabilities: Other liabilities: Derivative liabilities (1)(2) $ 12 $ 1,397 $ 29 $ (336 ) $ 1,102 Total liabilities $ 12 $ 1,397 $ 29 $ (336 ) $ 1,102 __________ (1) Represents balance sheet netting of derivative assets and liabilities, and related payable and receivables for cash collateral held or placed with the same counterparty. See “Note 9—Derivative Instrument and Hedging Activities” for additional information. (2) Does not reflect $3 million and $5 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of June 30, 2017 and December 31, 2016 , respectively. Non-performance risk is included in the derivative assets and liabilities which are part of other assets and liabilities on the consolidated balance sheets and offset through non-interest income in the consolidated statements of income. (3) Other includes consumer MSRs of $85 million and $80 million , retained interests in securitizations of $188 million and $201 million and deferred compensation plan assets of $256 million and $219 million as of June 30, 2017 and December 31, 2016 , respectively. |
Schedule of Level 3 Inputs Reconciliation for Assets | The table below presents a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016 . When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. Table 12.2 : Level 3 Recurring Fair Value Rollforward Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (3) (Dollars in millions) Balance, April 1, 2017 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2017 Assets: Securities available for sale: RMBS $ 449 $ 8 $ 10 $ 0 $ (5 ) $ 0 $ (24 ) $ 159 $ (168 ) $ 429 $ 8 CMBS 78 0 0 0 0 0 (1 ) 0 (60 ) 17 0 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 536 8 10 0 (5 ) 0 (25 ) 159 (228 ) 455 8 Other assets: Derivative assets (4) 53 4 0 0 0 22 (15 ) 0 (7 ) 57 4 Consumer MSRs 86 (5 ) 0 0 0 5 (1 ) 0 0 85 (5 ) Retained interest in securitizations 195 (7 ) 0 0 0 0 0 0 0 188 (7 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (31 ) $ (3 ) $ 0 $ 0 $ 0 $ (7 ) $ 7 $ 0 $ 2 $ (32 ) $ (3 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2016 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2016 (3) (Dollars in millions) Balance, Included (1) Included in OCI Purchases Sales Issuances Settlements Transfers (2) Transfers (2) Balance, June 30, 2016 Assets: Securities available for sale: RMBS $ 505 $ 7 $ 11 $ 59 $ 0 $ 0 $ (31 ) $ 80 $ (76 ) $ 555 $ 8 CMBS 251 0 1 63 0 0 (6 ) 0 (181 ) 128 0 Other ABS 30 0 0 0 0 0 0 0 0 30 0 Other securities 11 0 0 8 0 0 0 0 0 19 0 Total securities available for sale 797 7 12 130 0 0 (37 ) 80 (257 ) 732 8 Other assets: Derivative assets (4) 71 9 0 0 0 30 (15 ) 0 (10 ) 85 9 Consumer MSRs 59 (8 ) 0 0 0 4 (2 ) 0 0 53 (8 ) Retained interest in securitizations 201 2 0 0 0 0 0 0 0 203 2 Liabilities: Other liabilities: Derivative liabilities (4) $ (40 ) $ (15 ) $ 0 $ 0 $ 0 $ (24 ) $ 10 $ 0 $ 2 $ (67 ) $ (15 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Six Months Ended June 30, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (3) (Dollars in millions) Balance, January 1, 2017 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2017 Assets: Securities available for sale: RMBS $ 518 $ 17 $ 18 $ 0 $ (5 ) $ 0 $ (46 ) $ 212 $ (285 ) $ 429 $ 17 CMBS 51 0 0 60 0 0 (2 ) 0 (92 ) 17 0 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 578 17 18 60 (5 ) 0 (48 ) 212 (377 ) 455 17 Other assets: Derivative assets (4) 47 3 0 0 0 40 (25 ) 0 (8 ) 57 3 Consumer MSRs 80 (4 ) 0 0 0 12 (3 ) 0 0 85 (4 ) Retained interest in securitizations 201 (13 ) 0 0 0 0 0 0 0 188 (13 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (29 ) $ (2 ) $ 0 $ 0 $ 0 $ (13 ) $ 10 $ 0 $ 2 $ (32 ) $ (2 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Six Months Ended June 30, 2016 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2016 (3) (Dollars in millions) Balance, Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2016 Assets: Securities available for sale: RMBS $ 504 $ 13 $ 6 $ 59 $ 0 $ 0 $ (48 ) $ 207 $ (186 ) $ 555 $ 14 CMBS 97 0 2 156 0 0 (10 ) 64 (181 ) 128 0 Other ABS 0 0 0 30 0 0 0 0 0 30 0 Other securities 14 0 0 8 0 0 (3 ) 0 0 19 0 Total securities available for sale 615 13 8 253 0 0 (61 ) 271 (367 ) 732 14 Other assets: Derivative assets (4) 57 28 0 0 0 42 (26 ) 0 (16 ) 85 28 Consumer MSRs 68 (20 ) 0 0 0 8 (3 ) 0 0 53 (20 ) Retained interest in securitizations 211 (8 ) 0 0 0 0 0 0 0 203 (8 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (27 ) $ (29 ) $ 0 $ 0 $ 0 $ (31 ) $ 13 $ 0 $ 7 $ (67 ) $ (29 ) __________ (1) Gains (losses) related to Level 3 Consumer MSRs, derivative assets and derivative liabilities, and retained interests in securitizations are reported in other non-interest income, which is a component of non-interest income, in our consolidated statements of income. (2) During the three and six months ended June 30, 2017 and 2016 , the transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these securities as evidenced by wider pricing variations among pricing vendors. Transfers out of Level 3 were primarily driven by the usage of assumptions corroborated by market observable information as evidenced by tighter pricing among multiple pricing sources. (3) The amount presented for unrealized gains (losses) for assets still held as of the reporting date primarily represents impairments of securities available for sale, accretion on certain fixed maturity securities, changes in fair value of derivative instruments and mortgage servicing rights transactions. (4) All Level 3 derivative assets and liabilities are presented on a gross basis and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and the related payables and receivables for cash collateral held or placed with the same counterparty. |
Schedule of Level 3 Inputs Reconciliation for Liabilities | The table below presents a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016 . When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. Table 12.2 : Level 3 Recurring Fair Value Rollforward Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (3) (Dollars in millions) Balance, April 1, 2017 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2017 Assets: Securities available for sale: RMBS $ 449 $ 8 $ 10 $ 0 $ (5 ) $ 0 $ (24 ) $ 159 $ (168 ) $ 429 $ 8 CMBS 78 0 0 0 0 0 (1 ) 0 (60 ) 17 0 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 536 8 10 0 (5 ) 0 (25 ) 159 (228 ) 455 8 Other assets: Derivative assets (4) 53 4 0 0 0 22 (15 ) 0 (7 ) 57 4 Consumer MSRs 86 (5 ) 0 0 0 5 (1 ) 0 0 85 (5 ) Retained interest in securitizations 195 (7 ) 0 0 0 0 0 0 0 188 (7 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (31 ) $ (3 ) $ 0 $ 0 $ 0 $ (7 ) $ 7 $ 0 $ 2 $ (32 ) $ (3 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2016 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2016 (3) (Dollars in millions) Balance, Included (1) Included in OCI Purchases Sales Issuances Settlements Transfers (2) Transfers (2) Balance, June 30, 2016 Assets: Securities available for sale: RMBS $ 505 $ 7 $ 11 $ 59 $ 0 $ 0 $ (31 ) $ 80 $ (76 ) $ 555 $ 8 CMBS 251 0 1 63 0 0 (6 ) 0 (181 ) 128 0 Other ABS 30 0 0 0 0 0 0 0 0 30 0 Other securities 11 0 0 8 0 0 0 0 0 19 0 Total securities available for sale 797 7 12 130 0 0 (37 ) 80 (257 ) 732 8 Other assets: Derivative assets (4) 71 9 0 0 0 30 (15 ) 0 (10 ) 85 9 Consumer MSRs 59 (8 ) 0 0 0 4 (2 ) 0 0 53 (8 ) Retained interest in securitizations 201 2 0 0 0 0 0 0 0 203 2 Liabilities: Other liabilities: Derivative liabilities (4) $ (40 ) $ (15 ) $ 0 $ 0 $ 0 $ (24 ) $ 10 $ 0 $ 2 $ (67 ) $ (15 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Six Months Ended June 30, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (3) (Dollars in millions) Balance, January 1, 2017 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2017 Assets: Securities available for sale: RMBS $ 518 $ 17 $ 18 $ 0 $ (5 ) $ 0 $ (46 ) $ 212 $ (285 ) $ 429 $ 17 CMBS 51 0 0 60 0 0 (2 ) 0 (92 ) 17 0 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 578 17 18 60 (5 ) 0 (48 ) 212 (377 ) 455 17 Other assets: Derivative assets (4) 47 3 0 0 0 40 (25 ) 0 (8 ) 57 3 Consumer MSRs 80 (4 ) 0 0 0 12 (3 ) 0 0 85 (4 ) Retained interest in securitizations 201 (13 ) 0 0 0 0 0 0 0 188 (13 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (29 ) $ (2 ) $ 0 $ 0 $ 0 $ (13 ) $ 10 $ 0 $ 2 $ (32 ) $ (2 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Six Months Ended June 30, 2016 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2016 (3) (Dollars in millions) Balance, Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 (2) Transfers Out of Level 3 (2) Balance, June 30, 2016 Assets: Securities available for sale: RMBS $ 504 $ 13 $ 6 $ 59 $ 0 $ 0 $ (48 ) $ 207 $ (186 ) $ 555 $ 14 CMBS 97 0 2 156 0 0 (10 ) 64 (181 ) 128 0 Other ABS 0 0 0 30 0 0 0 0 0 30 0 Other securities 14 0 0 8 0 0 (3 ) 0 0 19 0 Total securities available for sale 615 13 8 253 0 0 (61 ) 271 (367 ) 732 14 Other assets: Derivative assets (4) 57 28 0 0 0 42 (26 ) 0 (16 ) 85 28 Consumer MSRs 68 (20 ) 0 0 0 8 (3 ) 0 0 53 (20 ) Retained interest in securitizations 211 (8 ) 0 0 0 0 0 0 0 203 (8 ) Liabilities: Other liabilities: Derivative liabilities (4) $ (27 ) $ (29 ) $ 0 $ 0 $ 0 $ (31 ) $ 13 $ 0 $ 7 $ (67 ) $ (29 ) __________ (1) Gains (losses) related to Level 3 Consumer MSRs, derivative assets and derivative liabilities, and retained interests in securitizations are reported in other non-interest income, which is a component of non-interest income, in our consolidated statements of income. (2) During the three and six months ended June 30, 2017 and 2016 , the transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these securities as evidenced by wider pricing variations among pricing vendors. Transfers out of Level 3 were primarily driven by the usage of assumptions corroborated by market observable information as evidenced by tighter pricing among multiple pricing sources. (3) The amount presented for unrealized gains (losses) for assets still held as of the reporting date primarily represents impairments of securities available for sale, accretion on certain fixed maturity securities, changes in fair value of derivative instruments and mortgage servicing rights transactions. (4) All Level 3 derivative assets and liabilities are presented on a gross basis and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and the related payables and receivables for cash collateral held or placed with the same counterparty. |
Schedule of Assets Measured at Fair Value on Recurring Basis Quantitative Information | The following table presents the significant unobservable inputs used to determine the fair values of our Level 3 financial instruments on a recurring basis. We utilize multiple third-party pricing services to obtain fair value for our securities. Several of our third-party pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other third-party pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models. Table 12.3 : Quantitative Information about Level 3 Fair Value Measurements Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at June 30, Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Assets: Securities available for sale: RMBS $ 429 Discounted cash flows (3rd party pricing) Yield 1-9% 5% CMBS 17 Discounted cash flows (3rd party pricing) Yield 3% 3% Other securities 9 Discounted cash flows Yield 2% 2% Other assets: Derivative assets (1) 57 Discounted cash flows Swap rates 2-3% 2% Consumer MSRs 85 Discounted cash flows Total prepayment rate 8-21% 15% Retained interests in securitization (2) 188 Discounted cash flows Life of receivables (months) 2-85 N/A Liabilities: Derivative liabilities (1) $ 32 Discounted cash flows Swap rates 2% 2% Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at December 31, 2016 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Assets: Securities available for sale: RMBS $ 518 Discounted cash flows (3rd party pricing) Yield 0-15% 5% CMBS 51 Discounted cash flows (3rd party pricing) Yield 2% 2% Other securities 9 Discounted cash flows Yield 1-2% 1% Other assets: Derivative assets (1) 47 Discounted cash flows Swap rates 2% 2% Consumer MSRs 80 Discounted cash flows Total prepayment rate 8-20% 15% Retained interests in securitization (2) 201 Discounted cash flows Life of receivables (months) Voluntary prepayment rate 6-87 N/A Liabilities: Derivative liabilities (1) $ 29 Discounted cash flows Swap rates 2% 2% __________ (1) All Level 3 derivative assets and liabilities are presented on a gross basis and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and the related payables and receivables for cash collateral held or placed with the same counterparty. (2) Due to the nature of the various mortgage securitization structures in which we have retained interests, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs. |
Schedule of Liabilities Measured at Fair Value on Recurring Basis Quantitative Information | The following table presents the significant unobservable inputs used to determine the fair values of our Level 3 financial instruments on a recurring basis. We utilize multiple third-party pricing services to obtain fair value for our securities. Several of our third-party pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other third-party pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models. Table 12.3 : Quantitative Information about Level 3 Fair Value Measurements Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at June 30, Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Assets: Securities available for sale: RMBS $ 429 Discounted cash flows (3rd party pricing) Yield 1-9% 5% CMBS 17 Discounted cash flows (3rd party pricing) Yield 3% 3% Other securities 9 Discounted cash flows Yield 2% 2% Other assets: Derivative assets (1) 57 Discounted cash flows Swap rates 2-3% 2% Consumer MSRs 85 Discounted cash flows Total prepayment rate 8-21% 15% Retained interests in securitization (2) 188 Discounted cash flows Life of receivables (months) 2-85 N/A Liabilities: Derivative liabilities (1) $ 32 Discounted cash flows Swap rates 2% 2% Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at December 31, 2016 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Assets: Securities available for sale: RMBS $ 518 Discounted cash flows (3rd party pricing) Yield 0-15% 5% CMBS 51 Discounted cash flows (3rd party pricing) Yield 2% 2% Other securities 9 Discounted cash flows Yield 1-2% 1% Other assets: Derivative assets (1) 47 Discounted cash flows Swap rates 2% 2% Consumer MSRs 80 Discounted cash flows Total prepayment rate 8-20% 15% Retained interests in securitization (2) 201 Discounted cash flows Life of receivables (months) Voluntary prepayment rate 6-87 N/A Liabilities: Derivative liabilities (1) $ 29 Discounted cash flows Swap rates 2% 2% __________ (1) All Level 3 derivative assets and liabilities are presented on a gross basis and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and the related payables and receivables for cash collateral held or placed with the same counterparty. (2) Due to the nature of the various mortgage securitization structures in which we have retained interests, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs. |
Schedule of Assets Measured at Fair Value on Nonrecurring Basis | The following table presents the carrying value of the assets measured at fair value on a nonrecurring basis and still held as of June 30, 2017 and December 31, 2016 , and for which a nonrecurring fair value measurement was recorded during the six and twelve months then ended: Table 12.4 : Nonrecurring Fair Value Measurements June 30, 2017 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 390 $ 390 Loans held for sale 559 1 560 Other assets (1) 0 35 35 Total $ 559 $ 426 $ 985 December 31, 2016 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 587 $ 587 Loans held for sale 157 0 157 Other assets (1) 0 83 83 Total $ 157 $ 670 $ 827 __________ (1) Other assets includes foreclosed property and repossessed assets of $34 million and long-lived assets held for sale of $1 million as of June 30, 2017 , compared to foreclosed property and repossessed assets of $43 million and long-lived assets held for sale of $40 million as of December 31, 2016 . |
Schedule of Earnings Related to Assets Measured at Fair Value on Nonrecurring Basis | The following table presents total nonrecurring fair value measurements for the period, included in earnings, attributable to the change in fair value relating to assets that are still held at June 30, 2017 and 2016 . Table 12.5 : Nonrecurring Fair Value Measurements Included in Earnings Total Gains (Losses) Six Months Ended June 30, (Dollars in millions) 2017 2016 Loans held for investment $ (116 ) $ (105 ) Loans held for sale (3 ) 0 Other assets (1) (6 ) (6 ) Total $ (125 ) $ (111 ) __________ (1) Other assets includes losses related to foreclosed property, repossessed assets and long-lived assets held for sale. |
Schedule of Fair Value of Financial Instruments | The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of our financial instruments that are not measured at fair value on a recurring basis on our consolidated balance sheets as of June 30, 2017 and December 31, 2016 . Table 12.6 : Fair Value of Financial Instruments June 30, 2017 Carrying Value Estimated Fair Value Estimated Fair Value Hierarchy (Dollars in millions) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 6,715 $ 6,715 $ 3,352 $ 3,363 $ 0 Restricted cash for securitization investors 300 300 300 0 0 Securities held to maturity 27,720 28,423 199 28,185 39 Net loans held for investment 237,132 241,048 0 0 241,048 Loans held for sale 777 785 0 783 2 Interest receivable 1,346 1,346 0 1,346 0 Other investments (1) 1,481 1,481 0 1,471 10 Financial liabilities: Deposits $ 239,763 $ 240,273 $ 25,953 $ 214,320 $ 0 Securitized debt obligations 18,358 18,477 0 18,477 0 Senior and subordinated notes 28,478 28,937 0 28,937 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 958 958 0 958 0 Other borrowings 2,160 2,114 0 2,114 0 Interest payable 376 376 0 376 0 December 31, 2016 Carrying Value Estimated Fair Value Estimated Fair Value Hierarchy (Dollars in millions) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 9,976 $ 9,976 $ 4,185 $ 5,791 $ 0 Restricted cash for securitization investors 2,517 2,517 2,517 0 0 Securities held to maturity 25,712 26,196 199 25,962 35 Net loans held for investment 239,083 242,935 0 0 242,935 Loans held for sale 1,043 1,038 0 1,038 0 Interest receivable 1,351 1,351 0 1,351 0 Other investments (1) 2,029 2,029 0 2,020 9 Financial liabilities: Deposits $ 236,768 $ 237,082 $ 25,502 $ 211,580 $ 0 Securitized debt obligations 18,826 18,920 0 18,920 0 Senior and subordinated notes 23,431 23,774 0 23,774 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 992 992 0 992 0 Other borrowings 17,211 17,180 0 17,180 0 Interest payable 327 327 0 327 0 __________ (1) Other investments includes FHLB, Federal Reserve stock and cost method investments. These investments are included in other assets on our consolidated balance sheets. |
Business Segments (Tables)
Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Results and Reconciliation | The following tables present our business segment results for the three and six months ended June 30, 2017 and 2016 , selected balance sheet data as of June 30, 2017 and 2016 , and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits. Table 13.1 : Segment Results and Reconciliation Three Months Ended June 30, 2017 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 3,294 $ 1,578 $ 569 $ 32 $ 5,473 Non-interest income 875 183 183 (10 ) 1,231 Total net revenue 4,169 1,761 752 22 6,704 Provision (benefit) for credit losses 1,397 268 140 (5 ) 1,800 Non-interest expense 1,918 1,059 381 56 3,414 Income (loss) from continuing operations before income taxes 854 434 231 (29 ) 1,490 Income tax provision (benefit) 301 158 85 (101 ) 443 Income from continuing operations, net of tax $ 553 $ 276 $ 146 $ 72 $ 1,047 Loans held for investment $ 101,590 $ 74,973 $ 67,672 $ 67 $ 244,302 Deposits 0 186,607 33,153 20,003 239,763 Three Months Ended June 30, 2016 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 3,045 $ 1,439 $ 559 $ 50 $ 5,093 Non-interest income 859 175 129 (2 ) 1,161 Total net revenue 3,904 1,614 688 48 6,254 Provision (benefit) for credit losses 1,261 204 128 (1 ) 1,592 Non-interest expense 1,883 1,006 343 63 3,295 Income (loss) from continuing operations before income taxes 760 404 217 (14 ) 1,367 Income tax provision (benefit) 276 147 79 (78 ) 424 Income from continuing operations, net of tax $ 484 $ 257 $ 138 $ 64 $ 943 Loans held for investment $ 96,904 $ 71,415 $ 66,202 $ 82 $ 234,603 Deposits 0 176,340 34,281 10,438 221,059 Six Months Ended June 30, 2017 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 6,640 $ 3,095 $ 1,135 $ 77 $ 10,947 Non-interest income 1,613 378 341 (40 ) 2,292 Total net revenue 8,253 3,473 1,476 37 13,239 Provision (benefit) for credit losses 3,114 547 138 (7 ) 3,792 Non-interest expense 3,847 2,101 772 128 6,848 Income (loss) from continuing operations before income taxes 1,292 825 566 (84 ) 2,599 Income tax provision (benefit) 468 301 207 (219 ) 757 Income from continuing operations, net of tax $ 824 $ 524 $ 359 $ 135 $ 1,842 Loans held for investment $ 101,590 $ 74,973 $ 67,672 $ 67 $ 244,302 Deposits 0 186,607 33,153 20,003 239,763 Six Months Ended June 30, 2016 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 6,078 $ 2,859 $ 1,096 $ 116 $ 10,149 Non-interest income 1,706 366 247 6 2,325 Total net revenue 7,784 3,225 1,343 122 12,474 Provision (benefit) for credit losses 2,332 434 356 (3 ) 3,119 Non-interest expense 3,746 1,996 665 111 6,518 Income (loss) from continuing operations before income taxes 1,706 795 322 14 2,837 Income tax provision (benefit) 613 289 117 (143 ) 876 Income from continuing operations, net of tax $ 1,093 $ 506 $ 205 $ 157 $ 1,961 Loans held for investment $ 96,904 $ 71,415 $ 66,202 $ 82 $ 234,603 Deposits 0 176,340 34,281 10,438 221,059 __________ (1) Some of our tax-related commercial investments generate tax-exempt income or tax credits. Accordingly, we make certain reclassifications within our Commercial Banking business results to present revenues and yields on a taxable-equivalent basis, calculated assuming an effective tax rate approximately equal to our federal statutory tax rate of 35% with offsetting reclassifications to the Other category. |
Commitments, Contingencies, G35
Commitments, Contingencies, Guarantees, and Others (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Letter of Credit and Other Loan Commitments [Table Text Block] | The following table presents contractual amount and carrying value of our unfunded lending commitments as of June 30, 2017 and December 31, 2016 . The carrying value represents our reserve and deferred revenue on legally binding commitments. Table 14.1 : Unfunded Lending Commitments: Contractual Amount and Carrying Value Contractual Amount Carrying Value (Dollars in millions) June 30, December 31, June 30, December 31, Standby letter of credit and commercial letter of credit (1) $ 2,050 $ 1,936 $ 43 $ 42 Credit card lines 317,662 312,864 N/A N/A Other loan commitments (2) 29,802 28,402 101 98 Total unfunded lending commitments $ 349,514 $ 343,202 $ 144 $ 140 __________ (1) These financial guarantees have expiration dates ranging from 2017 to 2025 as of June 30, 2017 . (2) Includes $902 million and $699 million of advised lines of credit as of June 30, 2017 and December 31, 2016 , respectively. |
Schedule of Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser | The following table presents the original principal balance of mortgage loan originations for the three general categories of purchasers of mortgage loans and the estimated unpaid principal balance as of June 30, 2017 and December 31, 2016 . Table 14.2 : Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser Estimated Unpaid Principal Balance Original Principal Balance (Dollars in billions) June 30, December 31, 2005-2008 GSEs $ 1 $ 2 $ 11 Insured Securitizations 3 3 20 Uninsured Securitizations and Other 11 12 80 Total $ 15 $ 17 $ 111 |
Schedule of Changes in Representation and Warranty Reserve | The table below summarizes changes in our representation and warranty reserve for the three and six months ended June 30, 2017 and 2016 . Table 14.3 : Changes in Representation and Warranty Reserve (1) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2017 2016 2017 2016 Representation and warranty reserve, beginning of period $ 516 $ 613 $ 630 $ 610 Provision (benefit) for mortgage representation and warranty losses: Recorded in continuing operations 0 (1 ) (25 ) (2 ) Recorded in discontinued operations 6 2 (61 ) 5 Total provision (benefit) for mortgage representation and warranty losses 6 1 (86 ) 3 Net realized recoveries (losses) (1 ) 0 (23 ) 1 Representation and warranty reserve, end of period $ 521 $ 614 $ 521 $ 614 __________ (1) Reported on our consolidated balance sheets as a component of other liabilities. |
Summary of Significant Accoun36
Summary of Significant Accounting Policies - Segments (Details) - Segment | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Accounting Policies [Abstract] | ||
Number of Operating Segments | 3 | 3 |
Discontinued Operations - Summa
Discontinued Operations - Summary of Results from Discontinued Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Income (loss) from discontinued operations, net of tax | $ (11) | $ (1) | $ 4 | $ (6) |
Wholesale Mortgage Banking Unit | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Income (loss) from discontinued operations before income taxes | (17) | (2) | 7 | (10) |
Income tax provision (benefit) | (6) | (1) | 3 | (4) |
Income (loss) from discontinued operations, net of tax | $ (11) | $ (1) | $ 4 | $ (6) |
Investment Securities - Schedul
Investment Securities - Schedule of Investment Portfolio (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Securities available for sale, at fair value | $ 41,120 | $ 40,737 |
Securities held to maturity, at carrying value | 27,720 | 25,712 |
Total investments securities | $ 68,840 | $ 66,449 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) $ in Millions | Jun. 30, 2017USD ($)Security | Dec. 31, 2016USD ($) |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of sale securities exceeding amortized cost over fair value | Security | 750 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (360) | $ (535) |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | $ (107) | (116) |
Securities held to maturity | Security | 150 | |
Fair value of securities pledged | $ 1,600 | 1,900 |
Carrying value of securities pledged | 8,200 | 8,100 |
Encumbered amount of securities pledged as collateral | 9,200 | 9,300 |
Fair value of securities pledged, accepted | 1 | 16 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | $ (122) | $ (199) |
Non-agency RMBS and CMBS, Non-agency ABS and Other Securities | Gross Unrealized Losses on Available-for-sale Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Percentage of portfolio | 2.00% | |
Investment Securities Portfolio | US Treasury and Government | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Percentage of portfolio | 91.00% | 91.00% |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (296) | $ (421) |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | (85) | (90) |
Non-agency RMBS and CMBS, Non-agency ABS and Other Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (7) | |
Non-Agency | Residential Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Including Portion Attributable to Noncontrolling Interest, Available-for-sale Securities | 4 | 9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (4) | (9) |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | $ (4) | $ (7) |
Investment Securities - Sched40
Investment Securities - Schedule of Available-for-Sale Securities (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Investment securities available for sale: | ||
Total Amortized Cost | $ 40,833 | $ 40,733 |
Gross Unrealized Gains | 647 | 539 |
Gross Unrealized Losses | (360) | (535) |
Securities available for sale, at fair value | $ 41,120 | $ 40,737 |
Collateralized Credit Card Securities [Member] | Other Asset-backed Securities Portfolio | ||
Investment securities available for sale: | ||
Percentage of portfolio | 49.00% | 57.00% |
Auto Dealer Floor Plan Inventory Loans and Leases | Other Asset-backed Securities Portfolio | ||
Investment securities available for sale: | ||
Percentage of portfolio | 23.00% | 23.00% |
U.S. Treasury securities | ||
Investment securities available for sale: | ||
Total Amortized Cost | $ 5,218 | $ 5,103 |
Gross Unrealized Gains | 27 | 11 |
Gross Unrealized Losses | (30) | (49) |
Securities available for sale, at fair value | 5,215 | 5,065 |
RMBS | ||
Investment securities available for sale: | ||
Total Amortized Cost | 28,856 | 29,179 |
Gross Unrealized Gains | 568 | 491 |
Gross Unrealized Losses | (296) | (421) |
Securities available for sale, at fair value | 29,128 | 29,249 |
RMBS | Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 26,693 | 26,830 |
Gross Unrealized Gains | 110 | 109 |
Gross Unrealized Losses | (292) | (412) |
Securities available for sale, at fair value | 26,511 | 26,527 |
RMBS | Non-Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 2,163 | 2,349 |
Gross Unrealized Gains | 458 | 382 |
Gross Unrealized Losses | (4) | (9) |
Securities available for sale, at fair value | 2,617 | 2,722 |
Non-credit OTTI losses related to non-agency RMBS | 4 | 9 |
CMBS | ||
Investment securities available for sale: | ||
Total Amortized Cost | 4,913 | 5,011 |
Gross Unrealized Gains | 47 | 35 |
Gross Unrealized Losses | (34) | (58) |
Securities available for sale, at fair value | 4,926 | 4,988 |
CMBS | Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 3,136 | 3,335 |
Gross Unrealized Gains | 19 | 14 |
Gross Unrealized Losses | (31) | (45) |
Securities available for sale, at fair value | 3,124 | 3,304 |
CMBS | Non-Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 1,777 | 1,676 |
Gross Unrealized Gains | 28 | 21 |
Gross Unrealized Losses | (3) | (13) |
Securities available for sale, at fair value | 1,802 | 1,684 |
Other ABS | ||
Investment securities available for sale: | ||
Total Amortized Cost | 626 | 714 |
Gross Unrealized Gains | 1 | 1 |
Gross Unrealized Losses | 0 | (1) |
Securities available for sale, at fair value | 627 | 714 |
Other securities | ||
Investment securities available for sale: | ||
Total Amortized Cost | 1,220 | 726 |
Gross Unrealized Gains | 4 | 1 |
Gross Unrealized Losses | 0 | (6) |
Securities available for sale, at fair value | $ 1,224 | $ 721 |
Investment Securities - Investm
Investment Securities - Investment Securities Held to Maturity (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 28,636 | $ 26,701 |
Unrealized Losses Recorded in AOCI | (916) | (989) |
Carrying Value | 27,720 | 25,712 |
Gross Unrealized Gains | 825 | 683 |
Gross Unrealized Losses | (122) | (199) |
Fair Value | 28,423 | 26,196 |
U.S. Treasury securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 199 | 199 |
Unrealized Losses Recorded in AOCI | 0 | 0 |
Carrying Value | 199 | 199 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 199 | 199 |
Agency | RMBS | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 24,741 | 23,022 |
Unrealized Losses Recorded in AOCI | (831) | (897) |
Carrying Value | 23,910 | 22,125 |
Gross Unrealized Gains | 724 | 606 |
Gross Unrealized Losses | (97) | (158) |
Fair Value | 24,537 | 22,573 |
Agency | CMBS | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 3,696 | 3,480 |
Unrealized Losses Recorded in AOCI | (85) | (92) |
Carrying Value | 3,611 | 3,388 |
Gross Unrealized Gains | 101 | 77 |
Gross Unrealized Losses | (25) | (41) |
Fair Value | $ 3,687 | $ 3,424 |
Investment Securities - Sched42
Investment Securities - Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 17,401 | $ 21,141 |
Less than 12 Months, Gross Unrealized Losses | (253) | (419) |
12 Months or Longer, Fair Value | 5,805 | 5,905 |
12 Months or Longer, Gross Unrealized Losses | (107) | (116) |
Total Fair Value | 23,206 | 27,046 |
Total Gross Unrealized Losses | (360) | (535) |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 1,079 | 1,060 |
Less than 12 Months, Gross Unrealized Losses | (30) | (49) |
12 Months or Longer, Fair Value | 0 | 0 |
12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 1,079 | 1,060 |
Total Gross Unrealized Losses | (30) | (49) |
RMBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 14,503 | 17,027 |
Less than 12 Months, Gross Unrealized Losses | (211) | (331) |
12 Months or Longer, Fair Value | 4,894 | 5,010 |
12 Months or Longer, Gross Unrealized Losses | (85) | (90) |
Total Fair Value | 19,397 | 22,037 |
Total Gross Unrealized Losses | (296) | (421) |
RMBS | Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 14,491 | 16,899 |
Less than 12 Months, Gross Unrealized Losses | (211) | (329) |
12 Months or Longer, Fair Value | 4,845 | 4,865 |
12 Months or Longer, Gross Unrealized Losses | (81) | (83) |
Total Fair Value | 19,336 | 21,764 |
Total Gross Unrealized Losses | (292) | (412) |
RMBS | Non-Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 12 | 128 |
Less than 12 Months, Gross Unrealized Losses | 0 | (2) |
12 Months or Longer, Fair Value | 49 | 145 |
12 Months or Longer, Gross Unrealized Losses | (4) | (7) |
Total Fair Value | 61 | 273 |
Total Gross Unrealized Losses | (4) | (9) |
CMBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 1,351 | 2,450 |
Less than 12 Months, Gross Unrealized Losses | (12) | (32) |
12 Months or Longer, Fair Value | 894 | 874 |
12 Months or Longer, Gross Unrealized Losses | (22) | (26) |
Total Fair Value | 2,245 | 3,324 |
Total Gross Unrealized Losses | (34) | (58) |
CMBS | Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 977 | 1,624 |
Less than 12 Months, Gross Unrealized Losses | (9) | (21) |
12 Months or Longer, Fair Value | 833 | 745 |
12 Months or Longer, Gross Unrealized Losses | (22) | (24) |
Total Fair Value | 1,810 | 2,369 |
Total Gross Unrealized Losses | (31) | (45) |
CMBS | Non-Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 374 | 826 |
Less than 12 Months, Gross Unrealized Losses | (3) | (11) |
12 Months or Longer, Fair Value | 61 | 129 |
12 Months or Longer, Gross Unrealized Losses | 0 | (2) |
Total Fair Value | 435 | 955 |
Total Gross Unrealized Losses | (3) | (13) |
Other ABS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 113 | 187 |
Less than 12 Months, Gross Unrealized Losses | 0 | (1) |
12 Months or Longer, Fair Value | 17 | 21 |
12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 130 | 208 |
Total Gross Unrealized Losses | 0 | (1) |
Other securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 355 | 417 |
Less than 12 Months, Gross Unrealized Losses | 0 | (6) |
12 Months or Longer, Fair Value | 0 | 0 |
12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 355 | 417 |
Total Gross Unrealized Losses | $ 0 | $ (6) |
Investment Securities - Sched43
Investment Securities - Schedule of Contractual Maturities for Available for Sale Securities (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Amortized Cost | ||
Due in 1 year or less | $ 707 | |
Due after 1 year through 5 years | 3,159 | |
Due after 5 years through 10 years | 6,572 | |
Due after 10 years | 30,395 | |
Total Amortized Cost | 40,833 | $ 40,733 |
Fair Value | ||
Due in 1 year or less | 709 | |
Due after 1 year through 5 years | 3,192 | |
Due after 5 years through 10 years | 6,584 | |
Due after 10 years | 30,635 | |
Available-for-sale Securities | $ 41,120 | $ 40,737 |
Investment Securities - Sched44
Investment Securities - Schedule of Contractual Maturities of Securities Held to Maturity (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Carrying Value | ||
Due in 1 year or less | $ 199 | |
Due after 1 year through 5 years | 418 | |
Due after 5 years through 10 years | 942 | |
Due after 10 years | 26,161 | |
Carrying Value | 27,720 | $ 25,712 |
Fair Value | ||
Due in 1 year or less | 199 | |
Due after 1 year through 5 years | 441 | |
Due after 5 years through 10 years | 987 | |
Due after 10 years | 26,796 | |
Fair Value | $ 28,423 | $ 26,196 |
Investment Securities - Sched45
Investment Securities - Schedule of Expected Maturities and Weighted Average Yields of Investment Securities by Major Security Type (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available for sale | ||
Due in 1 Year or Less | $ 1,170 | |
Due 1 Year through 5 Years | 17,068 | |
Due 5 Years through 10 Years | 22,244 | |
Due 10 Years | 638 | |
Available-for-sale Securities | 41,120 | $ 40,737 |
Amortized cost of securities available for sale | ||
Due in 1 Year or Less | 1,169 | |
Due 1 Year through 5 Years | 16,884 | |
Due 5 Years through 10 Years | 22,186 | |
Due 10 Years | 594 | |
Total Amortized Cost | $ 40,833 | 40,733 |
Weighted average yield for securities available for sale | ||
Due in 1 Year or Less | 1.36% | |
Due 1 Year through 5 Years | 2.45% | |
Due 5 Years through 10 Years | 2.45% | |
Due 10 Years | 4.96% | |
Total weighted average yield | 2.45% | |
Carrying value of securities held to maturity | ||
Due in 1 Year or Less | $ 227 | |
Due 1 Year through 5 Years | 2,427 | |
Due 5 Years through 10 Years | 19,608 | |
Due 10 Years | 5,458 | |
Carrying Value | 27,720 | 25,712 |
Fair value of securities held to maturity | ||
Due in 1 Year or Less | 225 | |
Due 1 Year through 5 Years | 2,501 | |
Due 5 Years through 10 Years | 20,092 | |
Due 10 Years | 5,605 | |
Fair Value | $ 28,423 | 26,196 |
Weighted average yield for securities held to maturity | ||
Due in 1 Year or Less | 0.60% | |
Due 1 Year through 5 Years | 2.57% | |
Due 5 Years through 10 Years | 2.68% | |
Due 10 Years | 3.36% | |
Total weighted average yield | 2.78% | |
U.S. Treasury securities | ||
Carrying value of securities held to maturity | ||
Due in 1 Year or Less | $ 199 | |
Due 1 Year through 5 Years | 0 | |
Due 5 Years through 10 Years | 0 | |
Due 10 Years | 0 | |
Carrying Value | 199 | 199 |
Fair value of securities held to maturity | ||
Fair Value | 199 | 199 |
U.S. Treasury securities | ||
Securities available for sale | ||
Due in 1 Year or Less | 102 | |
Due 1 Year through 5 Years | 847 | |
Due 5 Years through 10 Years | 4,266 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 5,215 | 5,065 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 5,218 | 5,103 |
RMBS | ||
Securities available for sale | ||
Due in 1 Year or Less | 195 | |
Due 1 Year through 5 Years | 12,779 | |
Due 5 Years through 10 Years | 15,859 | |
Due 10 Years | 295 | |
Available-for-sale Securities | 29,128 | 29,249 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 28,856 | 29,179 |
RMBS | Agency | ||
Securities available for sale | ||
Due in 1 Year or Less | 177 | |
Due 1 Year through 5 Years | 11,743 | |
Due 5 Years through 10 Years | 14,591 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 26,511 | 26,527 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 26,693 | 26,830 |
Carrying value of securities held to maturity | ||
Due in 1 Year or Less | 28 | |
Due 1 Year through 5 Years | 1,608 | |
Due 5 Years through 10 Years | 17,865 | |
Due 10 Years | 4,409 | |
Carrying Value | 23,910 | 22,125 |
Fair value of securities held to maturity | ||
Fair Value | 24,537 | 22,573 |
RMBS | Non-Agency | ||
Securities available for sale | ||
Due in 1 Year or Less | 18 | |
Due 1 Year through 5 Years | 1,036 | |
Due 5 Years through 10 Years | 1,268 | |
Due 10 Years | 295 | |
Available-for-sale Securities | 2,617 | 2,722 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 2,163 | 2,349 |
CMBS | ||
Securities available for sale | ||
Due in 1 Year or Less | 309 | |
Due 1 Year through 5 Years | 2,608 | |
Due 5 Years through 10 Years | 2,009 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 4,926 | 4,988 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 4,913 | 5,011 |
CMBS | Agency | ||
Securities available for sale | ||
Due in 1 Year or Less | 130 | |
Due 1 Year through 5 Years | 1,544 | |
Due 5 Years through 10 Years | 1,450 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 3,124 | 3,304 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 3,136 | 3,335 |
Carrying value of securities held to maturity | ||
Due in 1 Year or Less | 0 | |
Due 1 Year through 5 Years | 819 | |
Due 5 Years through 10 Years | 1,743 | |
Due 10 Years | 1,049 | |
Carrying Value | 3,611 | 3,388 |
Fair value of securities held to maturity | ||
Fair Value | 3,687 | 3,424 |
CMBS | Non-Agency | ||
Securities available for sale | ||
Due in 1 Year or Less | 179 | |
Due 1 Year through 5 Years | 1,064 | |
Due 5 Years through 10 Years | 559 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 1,802 | 1,684 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 1,777 | 1,676 |
Other ABS | ||
Securities available for sale | ||
Due in 1 Year or Less | 348 | |
Due 1 Year through 5 Years | 272 | |
Due 5 Years through 10 Years | 7 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 627 | 714 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 626 | 714 |
Other securities | ||
Securities available for sale | ||
Due in 1 Year or Less | 216 | |
Due 1 Year through 5 Years | 562 | |
Due 5 Years through 10 Years | 103 | |
Due 10 Years | 343 | |
Available-for-sale Securities | 1,224 | 721 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | $ 1,220 | $ 726 |
Investment Securities - Sched46
Investment Securities - Schedule of Credit Losses Related to Debt Securities Recognized in Earnings (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Credit loss component, beginning of period | $ 206 | $ 204 | $ 207 | $ 199 |
Additions: | ||||
Initial credit impairment | 0 | 1 | 0 | 1 |
Subsequent credit impairment | 1 | 1 | 1 | 7 |
Total additions | 1 | 2 | 1 | 8 |
Reductions due to payoffs, disposals, transfers and other | 0 | (2) | (1) | (3) |
Credit loss component, end of period | $ 207 | $ 204 | $ 207 | $ 204 |
Investment Securities - Sched47
Investment Securities - Schedule of Gross Realized Gains and Losses on Available-for-Sale Securities and OTTI Recognized in Earnings (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Realized gains (losses): | ||||
Gross realized gains | $ 0 | $ 3 | $ 5 | $ 6 |
Gross realized losses | 0 | (1) | (5) | (4) |
Net realized gains | 0 | 2 | 0 | 2 |
OTTI recognized in earnings: | ||||
Credit-related OTTI | (1) | (2) | (1) | (8) |
Intent to Sell OTTI | (3) | 0 | (3) | (2) |
Total OTTI recognized in earnings | (4) | (2) | (4) | (10) |
Net securities gains (losses) | (4) | 0 | (4) | (8) |
Proceeds from sales | $ 235 | $ 776 | $ 3,123 | $ 2,699 |
Investment Securities - Sched48
Investment Securities - Schedule of Outstanding Contractual Balance and Carrying Value of Acquired Credit-Impaired Debt Securities (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Outstanding Balance and Carrying Value of Acquired Securities | ||
Outstanding balance | $ 2,669 | $ 2,899 |
Carrying value | $ 2,221 | $ 2,277 |
Investment Securities - Sched49
Investment Securities - Schedule of Changes in Accretable Yield of Acquired Securities (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Changes in Accretable Yield of Acquired Securities [Roll Forward] | ||
Accretable yield beginning balance | $ 1,118 | $ 1,173 |
Accretion recognized in earnings | (49) | (98) |
Reduction due to payoffs, disposals, transfers and other | (1) | (3) |
Net reclassifications from (to) nonaccretable difference | 23 | 21 |
Accretable yield ending balance | $ 1,093 | $ 1,093 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Mortgage loans in process of foreclosure | $ 384 | $ 382 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 280 | 208 |
Performing | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Troubled debt restructurings included in impaired loans | 2,400 | 2,500 |
Home loan | Other Assets | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Real estate acquired through foreclosure | 48 | 69 |
Consumer Portfolio Segment [Member] | Performing | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Troubled debt restructurings included in impaired loans | 1,200 | 1,100 |
Commercial Banking | Criticized | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Minimum loan amount reviewed quarterly by management for further deterioration | 1 | |
Commercial Banking | Noncriticized | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Minimum loan amount requiring annual review | 1 | |
Commercial Banking | Performing | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Troubled debt restructurings included in impaired loans | 580 | 487 |
Federal Home Loan Bank Advances [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans Pledged as Collateral | 27,100 | 29,300 |
Line of Credit Facility, Remaining Borrowing Capacity | $ 21,700 | $ 24,900 |
Loans - Loan Portfolio Composit
Loans - Loan Portfolio Composition and Aging Analysis (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | $ 224,092 | $ 222,480 | |
Past due | 7,315 | 8,035 | |
Loans held for investment | $ 244,302 | $ 245,586 | $ 234,603 |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Financing Receivable, Percent Current | 91.73% | 90.59% | |
Total Delinquent Loans (as percent) | 2.99% | 3.27% | |
Total Loans (as percent) | 100.00% | 100.00% | |
Loans and Leases Receivable, Deferred Income | $ 664 | $ 558 | |
Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 97,908 | 101,394 | |
Past due | 3,682 | 4,156 | |
Loans held for investment | 101,590 | 105,552 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 59,357 | 55,190 | |
Past due | 3,245 | 3,408 | |
Loans held for investment | 74,973 | 73,054 | |
Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 48,733 | 44,762 | |
Past due | 3,032 | 3,154 | |
Loans held for investment | 51,765 | 47,916 | |
Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 7,203 | 6,951 | |
Past due | 173 | 205 | |
Loans held for investment | 19,724 | 21,584 | |
Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 3,421 | 3,477 | |
Past due | 40 | 49 | |
Loans held for investment | 3,484 | 3,554 | |
Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 66,768 | 65,840 | |
Past due | 380 | 463 | |
Loans held for investment | 67,672 | 66,916 | |
Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 66,334 | 65,367 | |
Past due | 371 | 453 | |
Loans held for investment | 67,229 | 66,433 | |
Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 27,334 | 26,536 | |
Past due | 68 | 45 | |
Loans held for investment | 27,428 | 26,609 | |
Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 39,000 | 38,831 | |
Past due | 303 | 408 | |
Loans held for investment | 39,801 | 39,824 | |
Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 434 | 473 | |
Past due | 9 | 10 | |
Loans held for investment | 443 | 483 | |
Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 59 | 56 | |
Past due | 8 | 8 | |
Loans held for investment | 67 | 64 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | $ 12,895 | $ 15,071 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Loans (as percent) | 5.28% | 6.14% | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | $ 0 | $ 2 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 12,371 | 14,456 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 0 | 0 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 12,348 | 14,428 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 23 | 28 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 524 | 613 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 524 | 613 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 26 | 28 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 498 | 585 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 0 | 0 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 3,355 | $ 3,466 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Delinquent Loans (as percent) | 1.37% | 1.41% | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 1,226 | $ 1,277 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2,034 | 2,107 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1,984 | 2,041 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 34 | 44 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 16 | 22 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 92 | 79 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 90 | 72 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 39 | 45 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 51 | 27 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2 | 7 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 3 | 3 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 1,659 | $ 1,920 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Delinquent Loans (as percent) | 0.68% | 0.78% | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 793 | $ 918 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 851 | 917 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 833 | 890 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 13 | 20 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 5 | 7 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 15 | 85 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 14 | 84 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 14 | 84 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1 | 1 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 0 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 2,301 | $ 2,649 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Delinquent Loans (as percent) | 0.94% | 1.08% | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 1,663 | $ 1,961 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 360 | 384 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 215 | 223 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 126 | 141 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 19 | 20 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 273 | 299 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 267 | 297 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 29 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 238 | 297 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 6 | 2 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 5 | 5 | |
Geographic Distribution, Domestic [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 89,493 | 93,279 | |
Past due | 3,373 | 3,839 | |
Loans held for investment | 92,866 | 97,120 | |
Geographic Distribution, Domestic [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 0 | 2 | |
Geographic Distribution, Domestic [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1,105 | 1,153 | |
Geographic Distribution, Domestic [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 726 | 846 | |
Geographic Distribution, Domestic [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1,542 | 1,840 | |
Geographic Distribution, Foreign [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 8,415 | 8,115 | |
Past due | 309 | 317 | |
Loans held for investment | 8,724 | 8,432 | |
Geographic Distribution, Foreign [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 0 | 0 | |
Geographic Distribution, Foreign [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 121 | 124 | |
Geographic Distribution, Foreign [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 67 | 72 | |
Geographic Distribution, Foreign [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 121 | 121 | |
Operating Segments [Member] | Consumer Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | $ 74,973 | $ 66,916 | $ 71,415 |
Loans - 90+ Day Delinquent Loan
Loans - 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 1,650 | $ 1,936 |
Nonperforming Loans | $ 1,292 | $ 1,599 |
Percent 90 days past due and still accruing | 0.68% | 0.79% |
Financing Receivable, Nonaccrual, Percent Past Due | 0.53% | 0.65% |
Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 1,650 | $ 1,936 |
Nonperforming Loans | 32 | 42 |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Domestic [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 1,542 | 1,840 |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Foreign [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 108 | 96 |
Nonperforming Loans | 32 | 42 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | $ 565 | $ 527 |
Financing Receivable, Nonaccrual, Percent Past Due | 0.75% | 0.72% |
Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | $ 273 | $ 223 |
Financing Receivable, Nonaccrual, Percent Past Due | 0.53% | 0.47% |
Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | $ 259 | $ 273 |
Financing Receivable, Nonaccrual, Percent Past Due | 1.31% | 1.26% |
Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | $ 33 | $ 31 |
Financing Receivable, Nonaccrual, Percent Past Due | 0.96% | 0.86% |
Commercial Banking | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | 686 | 1,022 |
Commercial Banking | Total commercial lending | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | 677 | 1,018 |
Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | 34 | 30 |
Commercial Banking | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | 643 | 988 |
Commercial Banking | Small-ticket commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | 9 | 4 |
Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | $ 9 | $ 8 |
Loans - Credit Card_ Risk Profi
Loans - Credit Card: Risk Profile by Geographic Region and Delinquency Status (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Financing Receivable, Percent Past Due | 2.99% | 3.27% | |
Financing Receivable, Recorded Investment, Past Due | $ 7,315 | $ 8,035 | |
Loans held for investment | 244,302 | 245,586 | $ 234,603 |
Credit Card Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,682 | 4,156 | |
Loans held for investment | $ 101,590 | $ 105,552 | |
Percentage of portfolio | 100.00% | 100.00% | |
Credit Card Portfolio Segment [Member] | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 10,629 | $ 11,068 | |
Percentage of portfolio | 10.40% | 10.50% | |
Credit Card Portfolio Segment [Member] | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,980 | $ 7,227 | |
Percentage of portfolio | 6.90% | 6.80% | |
Credit Card Portfolio Segment [Member] | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,780 | $ 7,090 | |
Percentage of portfolio | 6.70% | 6.70% | |
Credit Card Portfolio Segment [Member] | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,269 | $ 6,540 | |
Percentage of portfolio | 6.20% | 6.20% | |
Credit Card Portfolio Segment [Member] | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,271 | $ 4,492 | |
Percentage of portfolio | 4.20% | 4.30% | |
Credit Card Portfolio Segment [Member] | Pennsylvania | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,822 | $ 4,048 | |
Percentage of portfolio | 3.80% | 3.80% | |
Credit Card Portfolio Segment [Member] | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,436 | $ 3,654 | |
Percentage of portfolio | 3.40% | 3.50% | |
Credit Card Portfolio Segment [Member] | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,313 | $ 3,488 | |
Percentage of portfolio | 3.30% | 3.30% | |
Credit Card Portfolio Segment [Member] | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,994 | $ 3,164 | |
Percentage of portfolio | 2.90% | 3.00% | |
Credit Card Portfolio Segment [Member] | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 44,372 | $ 46,349 | |
Percentage of portfolio | 43.60% | 43.90% | |
Credit Card Portfolio Segment [Member] | Canada | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 5,750 | $ 5,594 | |
Percentage of portfolio | 5.70% | 5.30% | |
Credit Card Portfolio Segment [Member] | United Kingdom | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,974 | $ 2,838 | |
Percentage of portfolio | 2.90% | 2.70% | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Domestic [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 3,373 | $ 3,839 | |
Loans held for investment | $ 92,866 | $ 97,120 | |
Percentage of portfolio | 91.40% | 92.00% | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Foreign [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 309 | $ 317 | |
Loans held for investment | $ 8,724 | $ 8,432 | |
Percentage of portfolio | 8.60% | 8.00% |
Loans - Credit Card_ Net Charge
Loans - Credit Card: Net Charge-Offs (Detail) - Credit Card Portfolio Segment [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Net charge-offs | $ 1,256 | $ 949 | $ 2,527 | $ 1,899 |
Percentage annualized net charge-off by average loans held for investment | 5.02% | 4.02% | 5.02% | 4.05% |
Geographic Distribution, Domestic [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Net charge-offs | $ 1,172 | $ 874 | $ 2,368 | $ 1,761 |
Percentage annualized net charge-off by average loans held for investment | 5.11% | 4.07% | 5.12% | 4.12% |
Geographic Distribution, Foreign [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Net charge-offs | $ 84 | $ 75 | $ 159 | $ 138 |
Percentage annualized net charge-off by average loans held for investment | 4.08% | 3.54% | 3.88% | 3.39% |
Loans - Consumer Banking_ Risk
Loans - Consumer Banking: Risk Profile by Geographic Region, Delinquency Status and Performing Status (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 244,302 | $ 245,586 | $ 234,603 |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 74,973 | $ 73,054 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 51,765 | $ 47,916 | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 51,765 | $ 47,916 | |
Percentage of portfolio | 69.00% | 65.60% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,821 | $ 6,304 | |
Percentage of portfolio | 9.10% | 8.60% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 5,907 | $ 5,448 | |
Percentage of portfolio | 7.90% | 7.50% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,334 | $ 3,985 | |
Percentage of portfolio | 5.80% | 5.50% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Georgia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,657 | $ 2,506 | |
Percentage of portfolio | 3.50% | 3.40% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,255 | $ 2,159 | |
Percentage of portfolio | 3.00% | 3.00% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,188 | $ 2,017 | |
Percentage of portfolio | 2.90% | 2.80% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,161 | $ 2,065 | |
Percentage of portfolio | 2.90% | 2.80% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 25,442 | $ 23,432 | |
Percentage of portfolio | 33.90% | 32.00% | |
Consumer Portfolio Segment [Member] | Home loan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Percentage of portfolio | 26.40% | 29.50% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,398 | $ 4,993 | |
Percentage of portfolio | 5.90% | 6.80% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 911 | $ 985 | |
Percentage of portfolio | 1.20% | 1.30% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,110 | $ 1,218 | |
Percentage of portfolio | 1.50% | 1.70% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,775 | $ 8,627 | |
Percentage of portfolio | 10.40% | 11.80% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,030 | $ 2,036 | |
Percentage of portfolio | 2.70% | 2.80% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,325 | $ 1,409 | |
Percentage of portfolio | 1.80% | 1.90% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,134 | $ 1,204 | |
Percentage of portfolio | 1.50% | 1.70% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,041 | $ 1,112 | |
Percentage of portfolio | 1.40% | 1.50% | |
Consumer Portfolio Segment [Member] | Retail banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,484 | $ 3,554 | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,484 | $ 3,554 | |
Percentage of portfolio | 4.60% | 4.90% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 735 | $ 756 | |
Percentage of portfolio | 1.00% | 1.00% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 973 | $ 1,010 | |
Percentage of portfolio | 1.30% | 1.40% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 278 | $ 263 | |
Percentage of portfolio | 0.40% | 0.40% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 936 | $ 941 | |
Percentage of portfolio | 1.20% | 1.30% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 185 | $ 190 | |
Percentage of portfolio | 0.20% | 0.30% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 155 | $ 156 | |
Percentage of portfolio | 0.20% | 0.20% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 222 | $ 238 | |
Percentage of portfolio | 0.30% | 0.30% |
Loans - Consumer Banking_ Net C
Loans - Consumer Banking: Net Charge-Offs and Nonperforming Loans (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 |
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Nonperforming Loans | $ 1,292 | $ 1,599 | $ 1,292 | $ 1,292 | ||
Financing Receivable, Nonaccrual, Percent Past Due | 0.53% | 0.65% | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net charge-offs | $ 232 | $ 146 | $ 450 | $ 329 | ||
Percentage annualized net charge-off by average loans held for investment | 1.25% | 0.83% | 1.22% | 0.93% | ||
Nonperforming Loans | $ 565 | $ 527 | $ 565 | $ 565 | ||
Financing Receivable, Nonaccrual, Percent Past Due | 0.75% | 0.72% | ||||
Percentage annualized net charge-off by average loans held for investment, excluding loans acquired, prior to change in accounting estimate (as percent) | 0.99% | 1.09% | ||||
Percentage annualized net charge-off by average loans held for investment, excluding loans acquired (as percent) | 1.50% | 1.09% | 1.48% | 1.24% | ||
Nonperforming loans, excluding acquired loans (as percent) | 0.90% | 0.90% | ||||
Consumer Portfolio Segment [Member] | Uncollectible Receivables | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Percentage annualized net charge-off by average loans held for investment | 0.26% | 0.13% | ||||
Consumer Portfolio Segment [Member] | Auto | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net charge-offs | $ 215 | $ 130 | $ 414 | $ 298 | ||
Percentage annualized net charge-off by average loans held for investment | 1.70% | 1.20% | 1.67% | 1.39% | ||
Nonperforming Loans | $ 273 | $ 223 | $ 273 | $ 273 | ||
Financing Receivable, Nonaccrual, Percent Past Due | 0.53% | 0.47% | ||||
Percentage annualized net charge-off by average loans held for investment, excluding loans acquired, prior to change in accounting estimate (as percent) | 1.32% | 1.48% | ||||
Consumer Portfolio Segment [Member] | Auto | Uncollectible Receivables | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net charge-offs | $ 48 | |||||
Percentage annualized net charge-off by average loans held for investment | 0.38% | 0.19% | ||||
Consumer Portfolio Segment [Member] | Home loan | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net charge-offs | $ 2 | $ 5 | $ 4 | $ 8 | ||
Percentage annualized net charge-off by average loans held for investment | 0.04% | 0.09% | 0.03% | 0.07% | ||
Nonperforming Loans | $ 259 | $ 273 | $ 259 | $ 259 | ||
Financing Receivable, Nonaccrual, Percent Past Due | 1.31% | 1.26% | ||||
Percentage annualized net charge-off by average loans held for investment, excluding loans acquired (as percent) | 0.10% | 0.31% | 0.09% | 0.24% | ||
Nonperforming loans, excluding acquired loans (as percent) | 3.50% | 3.81% | ||||
Consumer Portfolio Segment [Member] | Retail banking | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net charge-offs | $ 15 | $ 11 | $ 32 | $ 23 | ||
Percentage annualized net charge-off by average loans held for investment | 1.71% | 1.26% | 1.81% | 1.31% | ||
Nonperforming Loans | $ 33 | $ 31 | $ 33 | $ 33 | ||
Financing Receivable, Nonaccrual, Percent Past Due | 0.96% | 0.86% |
Loans - Home Loan_ Risk Profile
Loans - Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 244,302 | $ 245,586 | $ 234,603 |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 74,973 | $ 73,054 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | Origination during or before 2008 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 10,305 | $ 11,850 | |
Percentage of portfolio | 52.20% | 54.90% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2009 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 977 | $ 1,168 | |
Percentage of portfolio | 5.00% | 5.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2010 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,352 | $ 1,644 | |
Percentage of portfolio | 6.90% | 7.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2011 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,517 | $ 1,822 | |
Percentage of portfolio | 7.70% | 8.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2012 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,004 | $ 1,237 | |
Percentage of portfolio | 5.10% | 5.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2013 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 469 | $ 524 | |
Percentage of portfolio | 2.40% | 2.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2014 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 542 | $ 588 | |
Percentage of portfolio | 2.70% | 2.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2015 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 996 | $ 1,054 | |
Percentage of portfolio | 5.00% | 4.90% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2016 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,703 | $ 1,697 | |
Percentage of portfolio | 8.60% | 7.90% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2017 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 859 | ||
Percentage of portfolio | 4.40% | ||
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,398 | $ 4,993 | |
Percentage of portfolio | 22.30% | 23.10% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,030 | $ 2,036 | |
Percentage of portfolio | 10.30% | 9.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,325 | $ 1,409 | |
Percentage of portfolio | 6.70% | 6.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,110 | $ 1,218 | |
Percentage of portfolio | 5.60% | 5.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,134 | $ 1,204 | |
Percentage of portfolio | 5.80% | 5.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,041 | $ 1,112 | |
Percentage of portfolio | 5.30% | 5.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 911 | $ 985 | |
Percentage of portfolio | 4.60% | 4.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 830 | $ 931 | |
Percentage of portfolio | 4.20% | 4.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | TEXAS | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 875 | $ 823 | |
Percentage of portfolio | 4.40% | 3.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | ARIZONA | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 777 | $ 888 | |
Percentage of portfolio | 4.00% | 4.10% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 5,293 | $ 5,985 | |
Percentage of portfolio | 26.80% | 27.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Lien Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Lien Type Concentration Risk | 1st lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 18,513 | $ 20,341 | |
Percentage of portfolio | 93.90% | 94.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Lien Type Concentration Risk | 2nd lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,211 | $ 1,243 | |
Percentage of portfolio | 6.10% | 5.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Interest Rate Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,724 | $ 21,584 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Interest Rate Type Concentration Risk | Fixed rate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 5,345 | $ 5,216 | |
Percentage of portfolio | 27.10% | 24.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Interest Rate Type Concentration Risk | Adjustable rate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 14,379 | $ 16,368 | |
Percentage of portfolio | 72.90% | 75.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,376 | $ 7,156 | |
Percentage of portfolio | 37.40% | 33.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | Origination during or before 2008 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,895 | $ 2,166 | |
Percentage of portfolio | 9.60% | 10.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2009 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 70 | $ 80 | |
Percentage of portfolio | 0.40% | 0.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2010 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 72 | $ 82 | |
Percentage of portfolio | 0.40% | 0.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2011 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 127 | $ 139 | |
Percentage of portfolio | 0.60% | 0.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2012 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 795 | $ 969 | |
Percentage of portfolio | 4.00% | 4.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2013 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 418 | $ 465 | |
Percentage of portfolio | 2.10% | 2.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2014 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 513 | $ 557 | |
Percentage of portfolio | 2.60% | 2.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2015 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 968 | $ 1,024 | |
Percentage of portfolio | 4.90% | 4.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2016 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,680 | $ 1,674 | |
Percentage of portfolio | 8.50% | 7.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2017 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 838 | ||
Percentage of portfolio | 4.30% | ||
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,376 | $ 7,156 | |
Percentage of portfolio | 37.40% | 33.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 992 | $ 976 | |
Percentage of portfolio | 5.00% | 4.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,412 | $ 1,343 | |
Percentage of portfolio | 7.20% | 6.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 610 | $ 585 | |
Percentage of portfolio | 3.10% | 2.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 136 | $ 108 | |
Percentage of portfolio | 0.70% | 0.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 531 | $ 490 | |
Percentage of portfolio | 2.70% | 2.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 393 | $ 379 | |
Percentage of portfolio | 2.00% | 1.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 891 | $ 962 | |
Percentage of portfolio | 4.50% | 4.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 169 | $ 159 | |
Percentage of portfolio | 0.80% | 0.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | TEXAS | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 788 | $ 725 | |
Percentage of portfolio | 4.00% | 3.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | ARIZONA | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 93 | $ 89 | |
Percentage of portfolio | 0.50% | 0.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,361 | $ 1,340 | |
Percentage of portfolio | 6.90% | 6.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Lien Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,376 | $ 7,156 | |
Percentage of portfolio | 37.40% | 33.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Lien Type Concentration Risk | 1st lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,411 | $ 6,182 | |
Percentage of portfolio | 32.50% | 28.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Lien Type Concentration Risk | 2nd lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 965 | $ 974 | |
Percentage of portfolio | 4.90% | 4.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Interest Rate Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,376 | $ 7,156 | |
Percentage of portfolio | 37.40% | 33.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Interest Rate Type Concentration Risk | Fixed rate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,645 | $ 3,394 | |
Percentage of portfolio | 18.50% | 15.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Interest Rate Type Concentration Risk | Adjustable rate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,731 | $ 3,762 | |
Percentage of portfolio | 18.90% | 17.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 12,348 | $ 14,428 | |
Percentage of portfolio | 62.60% | 66.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | Origination during or before 2008 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 8,410 | $ 9,684 | |
Percentage of portfolio | 42.60% | 44.90% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2009 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 907 | $ 1,088 | |
Percentage of portfolio | 4.60% | 5.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2010 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,280 | $ 1,562 | |
Percentage of portfolio | 6.50% | 7.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2011 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,390 | $ 1,683 | |
Percentage of portfolio | 7.10% | 7.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2012 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 209 | $ 268 | |
Percentage of portfolio | 1.10% | 1.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2013 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 51 | $ 59 | |
Percentage of portfolio | 0.30% | 0.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2014 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 29 | $ 31 | |
Percentage of portfolio | 0.10% | 0.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2015 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 28 | $ 30 | |
Percentage of portfolio | 0.10% | 0.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2016 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 23 | $ 23 | |
Percentage of portfolio | 0.10% | 0.10% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2017 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 21 | ||
Percentage of portfolio | 0.10% | ||
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 12,348 | $ 14,428 | |
Percentage of portfolio | 62.60% | 66.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,406 | $ 4,017 | |
Percentage of portfolio | 17.30% | 18.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 618 | $ 693 | |
Percentage of portfolio | 3.10% | 3.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 715 | $ 824 | |
Percentage of portfolio | 3.60% | 3.90% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 974 | $ 1,110 | |
Percentage of portfolio | 4.90% | 5.10% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 603 | $ 714 | |
Percentage of portfolio | 3.10% | 3.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 648 | $ 733 | |
Percentage of portfolio | 3.30% | 3.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 20 | $ 23 | |
Percentage of portfolio | 0.10% | 0.10% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 661 | $ 772 | |
Percentage of portfolio | 3.40% | 3.60% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | TEXAS | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 87 | $ 98 | |
Percentage of portfolio | 0.40% | 0.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | ARIZONA | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 684 | $ 799 | |
Percentage of portfolio | 3.50% | 3.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,932 | $ 4,645 | |
Percentage of portfolio | 19.90% | 21.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Lien Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 12,348 | $ 14,428 | |
Percentage of portfolio | 62.60% | 66.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Lien Type Concentration Risk | 1st lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 12,102 | $ 14,159 | |
Percentage of portfolio | 61.40% | 65.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Lien Type Concentration Risk | 2nd lien | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 246 | $ 269 | |
Percentage of portfolio | 1.20% | 1.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Interest Rate Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 12,348 | $ 14,428 | |
Percentage of portfolio | 62.60% | 66.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Interest Rate Type Concentration Risk | Fixed rate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,700 | $ 1,822 | |
Percentage of portfolio | 8.60% | 8.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Interest Rate Type Concentration Risk | Adjustable rate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 10,648 | $ 12,606 | |
Percentage of portfolio | 54.00% | 58.40% |
Loans - Commercial Banking_ Ris
Loans - Commercial Banking: Risk Profile by Geographic Region and Internal Risk Rating (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 244,302 | $ 245,586 | $ 234,603 |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | 12,895 | 15,071 | |
Commercial Banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 67,672 | $ 66,916 | |
Percentage of portfolio | 100.00% | 100.00% | |
Commercial Banking | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 524 | $ 613 | |
Commercial Banking | Commercial and multifamily real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 27,428 | $ 26,609 | |
Percentage of portfolio | 100.00% | 100.00% | |
Commercial Banking | Commercial and multifamily real estate | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 26 | $ 28 | |
Commercial Banking | Commercial and industrial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 39,801 | $ 39,824 | |
Percentage of portfolio | 100.00% | 100.00% | |
Commercial Banking | Commercial and industrial | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 498 | $ 585 | |
Commercial Banking | Small-ticket commercial real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 443 | $ 483 | |
Percentage of portfolio | 100.00% | 100.00% | |
Commercial Banking | Small-ticket commercial real estate | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 0 | $ 0 | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 24,773 | $ 25,640 | |
Percentage of portfolio | 36.60% | 38.30% | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | Mid-Atlantic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,124 | $ 6,490 | |
Percentage of portfolio | 10.50% | 9.70% | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 19,052 | $ 19,259 | |
Percentage of portfolio | 28.20% | 28.80% | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,723 | $ 15,527 | |
Percentage of portfolio | 24.70% | 23.20% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 524 | $ 613 | |
Percentage of portfolio | 0.80% | 0.90% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 63,802 | $ 62,828 | |
Percentage of portfolio | 94.30% | 93.90% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Criticized | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,660 | $ 2,453 | |
Percentage of portfolio | 3.90% | 3.70% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Criticized | Criticized nonperforming | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 686 | $ 1,022 | |
Percentage of portfolio | 1.00% | 1.50% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 15,636 | $ 15,714 | |
Percentage of portfolio | 57.00% | 59.00% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | Mid-Atlantic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,212 | $ 3,024 | |
Percentage of portfolio | 11.70% | 11.40% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,924 | $ 4,032 | |
Percentage of portfolio | 14.30% | 15.20% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,656 | $ 3,839 | |
Percentage of portfolio | 17.00% | 14.40% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Internal Risk Rating Concentration Risk | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 26 | $ 28 | |
Percentage of portfolio | 0.10% | 0.10% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Internal Risk Rating Concentration Risk | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 26,930 | $ 26,309 | |
Percentage of portfolio | 98.20% | 98.90% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Internal Risk Rating Concentration Risk | Criticized | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 438 | $ 242 | |
Percentage of portfolio | 1.60% | 0.90% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Internal Risk Rating Concentration Risk | Criticized | Criticized nonperforming | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 34 | $ 30 | |
Percentage of portfolio | 0.10% | 0.10% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 8,863 | $ 9,628 | |
Percentage of portfolio | 22.30% | 24.20% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | Mid-Atlantic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,896 | $ 3,450 | |
Percentage of portfolio | 9.80% | 8.70% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 15,100 | $ 15,193 | |
Percentage of portfolio | 37.90% | 38.10% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 11,942 | $ 11,553 | |
Percentage of portfolio | 30.00% | 29.00% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Internal Risk Rating Concentration Risk | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 498 | $ 585 | |
Percentage of portfolio | 1.30% | 1.50% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Internal Risk Rating Concentration Risk | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 36,439 | $ 36,046 | |
Percentage of portfolio | 91.50% | 90.50% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Internal Risk Rating Concentration Risk | Criticized | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,221 | $ 2,205 | |
Percentage of portfolio | 5.60% | 5.50% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Internal Risk Rating Concentration Risk | Criticized | Criticized nonperforming | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 643 | $ 988 | |
Percentage of portfolio | 1.60% | 2.50% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 274 | $ 298 | |
Percentage of portfolio | 61.90% | 61.70% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | Mid-Atlantic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16 | $ 16 | |
Percentage of portfolio | 3.60% | 3.30% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 28 | $ 34 | |
Percentage of portfolio | 6.30% | 7.00% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 125 | $ 135 | |
Percentage of portfolio | 28.20% | 28.00% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Internal Risk Rating Concentration Risk | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 0 | ||
Percentage of portfolio | 0.00% | 0.00% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Internal Risk Rating Concentration Risk | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 433 | $ 473 | |
Percentage of portfolio | 97.80% | 97.90% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Internal Risk Rating Concentration Risk | Criticized | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1 | $ 6 | |
Percentage of portfolio | 0.20% | 1.30% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Internal Risk Rating Concentration Risk | Criticized | Criticized nonperforming | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 9 | $ 4 | |
Percentage of portfolio | 2.00% | 0.80% | |
Operating Segments [Member] | Commercial Banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 67,672 | $ 66,916 | $ 66,202 |
Loans - Impaired Loans, Excludi
Loans - Impaired Loans, Excluding Acquired Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Impaired Financing Receivable: | |||||
With an Allowance | $ 2,382 | $ 2,382 | $ 2,660 | ||
Without an Allowance | 518 | 518 | 507 | ||
Total Recorded Investment | 2,900 | 2,900 | 3,167 | ||
Related Allowance | 462 | 462 | 465 | ||
Net Recorded Investment | 2,438 | 2,438 | 2,702 | ||
Unpaid Principal Balance | 3,699 | 3,699 | 3,591 | ||
Average Recorded Investment | 2,935 | $ 2,987 | 3,011 | $ 2,813 | |
Interest Income Recognized | 36 | 43 | 75 | 86 | |
Credit Card Portfolio Segment [Member] | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 745 | 745 | 715 | ||
Without an Allowance | 0 | 0 | 0 | ||
Total Recorded Investment | 745 | 745 | 715 | ||
Related Allowance | 265 | 265 | 239 | ||
Net Recorded Investment | 480 | 480 | 476 | ||
Unpaid Principal Balance | 726 | 726 | 695 | ||
Average Recorded Investment | 740 | 656 | 732 | 660 | |
Interest Income Recognized | 18 | 16 | 36 | 33 | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Domestic [Member] | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 589 | 589 | 581 | ||
Without an Allowance | 0 | 0 | 0 | ||
Total Recorded Investment | 589 | 589 | 581 | ||
Related Allowance | 189 | 189 | 174 | ||
Net Recorded Investment | 400 | 400 | 407 | ||
Unpaid Principal Balance | 575 | 575 | 566 | ||
Average Recorded Investment | 588 | 521 | 586 | 528 | |
Interest Income Recognized | 16 | 14 | 31 | 28 | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Foreign [Member] | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 156 | 156 | 134 | ||
Without an Allowance | 0 | 0 | 0 | ||
Total Recorded Investment | 156 | 156 | 134 | ||
Related Allowance | 76 | 76 | 65 | ||
Net Recorded Investment | 80 | 80 | 69 | ||
Unpaid Principal Balance | 151 | 151 | 129 | ||
Average Recorded Investment | 152 | 135 | 146 | 132 | |
Interest Income Recognized | 2 | 2 | 5 | 5 | |
Consumer Portfolio Segment [Member] | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 594 | 594 | 609 | ||
Without an Allowance | 296 | 296 | 334 | ||
Total Recorded Investment | 890 | 890 | 943 | ||
Related Allowance | 56 | 56 | 57 | ||
Net Recorded Investment | 834 | 834 | 886 | ||
Unpaid Principal Balance | 1,272 | 1,272 | 1,336 | ||
Average Recorded Investment | 889 | 918 | 905 | 917 | |
Interest Income Recognized | 12 | 23 | 29 | 46 | |
Consumer Portfolio Segment [Member] | Auto | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 311 | 311 | 316 | ||
Without an Allowance | 172 | 172 | 207 | ||
Total Recorded Investment | 483 | 483 | 523 | ||
Related Allowance | 28 | 28 | 24 | ||
Net Recorded Investment | 455 | 455 | 499 | ||
Unpaid Principal Balance | 766 | 766 | 807 | ||
Average Recorded Investment | 491 | 494 | 501 | 492 | |
Interest Income Recognized | 11 | 21 | 26 | 43 | |
Consumer Portfolio Segment [Member] | Home loan | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 235 | 235 | 241 | ||
Without an Allowance | 114 | 114 | 117 | ||
Total Recorded Investment | 349 | 349 | 358 | ||
Related Allowance | 18 | 18 | 19 | ||
Net Recorded Investment | 331 | 331 | 339 | ||
Unpaid Principal Balance | 444 | 444 | 464 | ||
Average Recorded Investment | 342 | 364 | 346 | 364 | |
Interest Income Recognized | 1 | 1 | 2 | 2 | |
Consumer Portfolio Segment [Member] | Retail banking | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 48 | 48 | 52 | ||
Without an Allowance | 10 | 10 | 10 | ||
Total Recorded Investment | 58 | 58 | 62 | ||
Related Allowance | 10 | 10 | 14 | ||
Net Recorded Investment | 48 | 48 | 48 | ||
Unpaid Principal Balance | 62 | 62 | 65 | ||
Average Recorded Investment | 56 | 60 | 58 | 61 | |
Interest Income Recognized | 0 | 1 | 1 | 1 | |
Commercial Banking | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 1,043 | 1,043 | 1,336 | ||
Without an Allowance | 222 | 222 | 173 | ||
Total Recorded Investment | 1,265 | 1,265 | 1,509 | ||
Related Allowance | 141 | 141 | 169 | ||
Net Recorded Investment | 1,124 | 1,124 | 1,340 | ||
Unpaid Principal Balance | 1,701 | 1,701 | 1,560 | ||
Average Recorded Investment | 1,306 | 1,413 | 1,374 | 1,236 | |
Interest Income Recognized | 6 | 4 | 10 | 7 | |
Commercial Banking | Total commercial lending | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 1,035 | 1,035 | 1,332 | ||
Without an Allowance | 222 | 222 | 173 | ||
Total Recorded Investment | 1,257 | 1,257 | 1,505 | ||
Related Allowance | 141 | 141 | 169 | ||
Net Recorded Investment | 1,116 | 1,116 | 1,336 | ||
Unpaid Principal Balance | 1,691 | 1,691 | 1,556 | ||
Average Recorded Investment | 1,298 | 1,405 | 1,367 | 1,229 | |
Interest Income Recognized | 6 | 4 | 10 | 7 | |
Commercial Banking | Commercial and multifamily real estate | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 107 | 107 | 83 | ||
Without an Allowance | 30 | 30 | 29 | ||
Total Recorded Investment | 137 | 137 | 112 | ||
Related Allowance | 8 | 8 | 7 | ||
Net Recorded Investment | 129 | 129 | 105 | ||
Unpaid Principal Balance | 140 | 140 | 112 | ||
Average Recorded Investment | 125 | 128 | 121 | 113 | |
Interest Income Recognized | 1 | 1 | 2 | 2 | |
Commercial Banking | Commercial and industrial | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 928 | 928 | 1,249 | ||
Without an Allowance | 192 | 192 | 144 | ||
Total Recorded Investment | 1,120 | 1,120 | 1,393 | ||
Related Allowance | 133 | 133 | 162 | ||
Net Recorded Investment | 987 | 987 | 1,231 | ||
Unpaid Principal Balance | 1,551 | 1,551 | 1,444 | ||
Average Recorded Investment | 1,173 | 1,277 | 1,246 | 1,116 | |
Interest Income Recognized | 5 | 3 | 8 | 5 | |
Commercial Banking | Small-ticket commercial real estate | |||||
Impaired Financing Receivable: | |||||
With an Allowance | 8 | 8 | 4 | ||
Without an Allowance | 0 | 0 | 0 | ||
Total Recorded Investment | 8 | 8 | 4 | ||
Related Allowance | 0 | 0 | 0 | ||
Net Recorded Investment | 8 | 8 | 4 | ||
Unpaid Principal Balance | 10 | 10 | $ 4 | ||
Average Recorded Investment | 8 | 8 | 7 | 7 | |
Interest Income Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Loans - TDR Disclosures in Prog
Loans - TDR Disclosures in Progress Financial Impact of Modification (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | $ 356 | $ 442 | $ 731 | $ 714 |
Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 126 | 95 | 267 | 193 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 71 | 93 | 156 | 195 |
Consumer Portfolio Segment [Member] | Auto | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 61 | 77 | 136 | 163 |
Consumer Portfolio Segment [Member] | Home loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 6 | 12 | 14 | 25 |
Consumer Portfolio Segment [Member] | Retail banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 4 | 4 | 6 | 7 |
Commercial Banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 159 | 254 | 308 | 326 |
Commercial Banking | Total commercial lending | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 158 | 254 | 307 | 326 |
Commercial Banking | Commercial and multifamily real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 24 | 0 | 26 | 25 |
Commercial Banking | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | 134 | 254 | 281 | 301 |
Commercial Banking | Small-ticket commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | $ 1 | $ 0 | $ 1 | $ 0 |
Reduced Interest Rate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 52.00% | 38.00% | 51.00% | 43.00% |
Average Rate Reduction | 13.35% | 10.82% | 13.68% | 11.93% |
Reduced Interest Rate | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 100.00% | 100.00% | 100.00% | 100.00% |
Average Rate Reduction | 18.12% | 17.47% | 17.92% | 17.50% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 49.00% | 47.00% | 51.00% | 45.00% |
Average Rate Reduction | 3.54% | 3.64% | 3.66% | 3.69% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | Auto | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 52.00% | 46.00% | 52.00% | 44.00% |
Average Rate Reduction | 3.65% | 3.86% | 3.85% | 3.89% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | Home loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 47.00% | 52.00% | 54.00% | 57.00% |
Average Rate Reduction | 3.14% | 2.29% | 2.49% | 2.47% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | Retail banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 18.00% | 47.00% | 30.00% | 36.00% |
Average Rate Reduction | 0.10% | 4.10% | 1.19% | 5.02% |
Reduced Interest Rate | Commercial Banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 15.00% | 12.00% | 9.00% | 9.00% |
Average Rate Reduction | 2.23% | 0.00% | 1.13% | 0.05% |
Reduced Interest Rate | Commercial Banking | Total commercial lending | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 15.00% | 12.00% | 9.00% | 9.00% |
Average Rate Reduction | 2.23% | 0.00% | 1.13% | 0.05% |
Reduced Interest Rate | Commercial Banking | Commercial and multifamily real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 8.00% | 0.00% |
Average Rate Reduction | 0.00% | 0.00% | 0.02% | 0.00% |
Reduced Interest Rate | Commercial Banking | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 18.00% | 12.00% | 9.00% | 10.00% |
Average Rate Reduction | 2.23% | 0.06% | 1.23% | 0.05% |
Reduced Interest Rate | Commercial Banking | Small-ticket commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Average Rate Reduction | 0.00% | 0.00% | 0.00% | 0.00% |
Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 37.00% | 53.00% | 32.00% | 49.00% |
Average Term Extension (Months) | 17 months | 32 months | 22 months | 30 months |
Term Extension | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Average Term Extension (Months) | 0 months | 0 months | 0 months | 0 months |
Term Extension | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 96.00% | 77.00% | 91.00% | 75.00% |
Average Term Extension (Months) | 25 months | 46 months | 25 months | 43 months |
Term Extension | Consumer Portfolio Segment [Member] | Auto | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 99.00% | 75.00% | 93.00% | 74.00% |
Average Term Extension (Months) | 7 months | 7 months | 7 months | 7 months |
Term Extension | Consumer Portfolio Segment [Member] | Home loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 87.00% | 95.00% | 83.00% | 85.00% |
Average Term Extension (Months) | 233 months | 252 months | 227 months | 250 months |
Term Extension | Consumer Portfolio Segment [Member] | Retail banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 59.00% | 58.00% | 62.00% | 70.00% |
Average Term Extension (Months) | 13 months | 10 months | 11 months | 10 months |
Term Extension | Commercial Banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 41.00% | 64.00% | 31.00% | 61.00% |
Average Term Extension (Months) | 9 months | 25 months | 17 months | 21 months |
Term Extension | Commercial Banking | Total commercial lending | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 41.00% | 64.00% | 31.00% | 62.00% |
Average Term Extension (Months) | 9 months | 25 months | 17 months | 21 months |
Term Extension | Commercial Banking | Commercial and multifamily real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 10.00% | 0.00% | 17.00% | 100.00% |
Average Term Extension (Months) | 4 months | 0 months | 5 months | 8 months |
Term Extension | Commercial Banking | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 47.00% | 64.00% | 32.00% | 58.00% |
Average Term Extension (Months) | 9 months | 25 months | 18 months | 23 months |
Term Extension | Commercial Banking | Small-ticket commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Average Term Extension (Months) | 0 months | 0 months | 0 months | 0 months |
Balance Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 5.00% | 0.00% | 6.00% |
Gross Balance Reduction | $ 0 | $ 16 | $ 7 | $ 37 |
Balance Reduction | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Balance Reduction | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 22.00% | 5.00% | 22.00% |
Gross Balance Reduction | $ 0 | $ 16 | $ 7 | $ 37 |
Balance Reduction | Consumer Portfolio Segment [Member] | Auto | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 25.00% | 6.00% | 26.00% |
Gross Balance Reduction | $ 0 | $ 15 | $ 7 | $ 36 |
Balance Reduction | Consumer Portfolio Segment [Member] | Home loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 5.00% | 2.00% | 2.00% | 2.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Balance Reduction | Consumer Portfolio Segment [Member] | Retail banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 35.00% | 0.00% | 20.00% |
Gross Balance Reduction | $ 0 | $ 1 | $ 0 | $ 1 |
Balance Reduction | Commercial Banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Total commercial lending | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Commercial and multifamily real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Small-ticket commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Geographic Distribution, Domestic [Member] | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | $ 87 | $ 62 | $ 184 | $ 124 |
Geographic Distribution, Domestic [Member] | Reduced Interest Rate | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 100.00% | 100.00% | 100.00% | 100.00% |
Average Rate Reduction | 14.36% | 12.81% | 14.09% | 12.83% |
Geographic Distribution, Domestic [Member] | Term Extension | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Average Term Extension (Months) | 0 months | 0 months | 0 months | 0 months |
Geographic Distribution, Domestic [Member] | Balance Reduction | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Geographic Distribution, Foreign [Member] | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Loans Modified | $ 39 | $ 33 | $ 83 | $ 69 |
Geographic Distribution, Foreign [Member] | Reduced Interest Rate | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 100.00% | 100.00% | 100.00% | 100.00% |
Average Rate Reduction | 26.50% | 26.01% | 26.33% | 25.83% |
Geographic Distribution, Foreign [Member] | Term Extension | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Average Term Extension (Months) | 0 months | 0 months | 0 months | 0 months |
Geographic Distribution, Foreign [Member] | Balance Reduction | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
% of TDR Activity | 0.00% | 0.00% | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 | $ 0 | $ 0 |
Loans - TDR - Subsequent Defaul
Loans - TDR - Subsequent Defaults of Completed TDR Modifications (Detail) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 29,555 | 22,292 | 56,001 | 43,593 |
Total Loans | $ | $ 176 | $ 76 | $ 267 | $ 161 |
Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 26,983 | 20,203 | 51,213 | 39,610 |
Total Loans | $ | $ 52 | $ 37 | $ 94 | $ 75 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2,550 | 2,084 | 4,751 | 3,961 |
Total Loans | $ | $ 35 | $ 25 | $ 64 | $ 49 |
Consumer Portfolio Segment [Member] | Auto | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2,533 | 2,061 | 4,712 | 3,913 |
Total Loans | $ | $ 30 | $ 22 | $ 55 | $ 43 |
Consumer Portfolio Segment [Member] | Home loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 8 | 13 | 19 | 23 |
Total Loans | $ | $ 3 | $ 2 | $ 6 | $ 3 |
Consumer Portfolio Segment [Member] | Retail banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 9 | 10 | 20 | 25 |
Total Loans | $ | $ 2 | $ 1 | $ 3 | $ 3 |
Commercial Banking | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 22 | 5 | 37 | 22 |
Total Loans | $ | $ 89 | $ 14 | $ 109 | $ 37 |
Commercial Banking | Total commercial lending | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 21 | 3 | 35 | 20 |
Total Loans | $ | $ 89 | $ 14 | $ 108 | $ 37 |
Commercial Banking | Commercial and multifamily real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 0 | 0 | 0 | 0 |
Total Loans | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Banking | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 21 | 3 | 35 | 20 |
Total Loans | $ | $ 89 | $ 14 | $ 108 | $ 37 |
Commercial Banking | Small-ticket commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 2 | 2 | 2 |
Total Loans | $ | $ 0 | $ 0 | $ 1 | $ 0 |
Geographic Distribution, Domestic [Member] | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 13,222 | 10,231 | 26,027 | 20,825 |
Total Loans | $ | $ 25 | $ 16 | $ 51 | $ 34 |
Geographic Distribution, Foreign [Member] | Credit Card Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 13,761 | 9,972 | 25,186 | 18,785 |
Total Loans | $ | $ 27 | $ 21 | $ 43 | $ 41 |
Loans - Outstanding Balance and
Loans - Outstanding Balance and Carrying Value of Acquired Loans (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Outstanding balance | $ 14,184 | $ 16,506 | |
Carrying value | 12,898 | 15,074 | |
Impaired Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Outstanding balance | 2,930 | 3,272 | |
Carrying value | 2,052 | 2,263 | |
Non-Impaired Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Outstanding balance | 11,254 | 13,234 | |
Carrying value | 10,846 | 12,811 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Allowance for Credit Losses | 31 | $ 31 | |
Provision for credit losses for Acquired Loans | $ 0 | $ 9 |
Loans - Changes in Accretable Y
Loans - Changes in Accretable Yield on Acquired Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield, beginning balance | $ 2,903 | $ 3,177 |
Accretion recognized in earnings | (155) | (321) |
Reclassifications from/(to) nonaccretable differences | 2 | 8 |
Changes in accretable yield for non-credit related changes in expected cash flows | (59) | (173) |
Accretable yield, ending balance | 2,691 | 2,691 |
Impaired Loans | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield, beginning balance | 988 | 1,064 |
Accretion recognized in earnings | (54) | (110) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications (to) from Nonaccretable Difference | (6) | (10) |
Changes in accretable yield for non-credit related changes in expected cash flows | 64 | 48 |
Accretable yield, ending balance | 992 | 992 |
Non-Impaired Loans | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield, beginning balance | 1,915 | 2,113 |
Accretion recognized in earnings | (101) | (211) |
Reclassifications from/(to) nonaccretable differences | 8 | 18 |
Changes in accretable yield for non-credit related changes in expected cash flows | (123) | (221) |
Accretable yield, ending balance | $ 1,699 | $ 1,699 |
Allowance for Loan and Lease 64
Allowance for Loan and Lease Losses - Summary of Changes in Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | $ 6,503 | |||
Balance at end of the period | $ 7,170 | 7,170 | ||
Total Allowance | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 6,984 | $ 5,416 | 6,503 | $ 5,130 |
Charge-offs | (2,102) | (1,528) | (4,093) | (3,090) |
Recoveries | 484 | 373 | 965 | 757 |
Net charge-offs | (1,618) | (1,155) | (3,128) | (2,333) |
Provision (benefit) for loan and lease losses | 1,801 | 1,649 | 3,789 | 3,118 |
Allowance build (release) for loan and lease losses | 183 | 494 | 661 | 785 |
Other changes | 3 | (29) | 6 | (34) |
Balance at end of the period | 7,170 | 5,881 | 7,170 | 5,881 |
Unfunded Lending Commitments Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 140 | 226 | 136 | 168 |
Provision (benefit) for loan and lease losses | (1) | (57) | 3 | 1 |
Balance at end of the period | 139 | 169 | 139 | 169 |
Combined Allowance & Unfunded Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at end of the period | 7,309 | 6,050 | 7,309 | 6,050 |
Credit Card Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 5,058 | 3,785 | 4,606 | 3,654 |
Charge-offs | (1,572) | (1,215) | (3,173) | (2,437) |
Recoveries | 316 | 266 | 646 | 538 |
Net charge-offs | (1,256) | (949) | (2,527) | (1,899) |
Provision (benefit) for loan and lease losses | 1,397 | 1,261 | 3,114 | 2,332 |
Allowance build (release) for loan and lease losses | 141 | 312 | 587 | 433 |
Other changes | 11 | (11) | 17 | (1) |
Balance at end of the period | 5,210 | 4,086 | 5,210 | 4,086 |
Credit Card Portfolio Segment [Member] | Unfunded Lending Commitments Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 0 | 0 | 0 | 0 |
Provision (benefit) for loan and lease losses | 0 | 0 | 0 | 0 |
Balance at end of the period | 0 | 0 | 0 | 0 |
Credit Card Portfolio Segment [Member] | Combined Allowance & Unfunded Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at end of the period | 5,210 | 4,086 | 5,210 | 4,086 |
Consumer Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 1,163 | 914 | 1,102 | 868 |
Charge-offs | (390) | (248) | (754) | (539) |
Recoveries | 158 | 102 | 304 | 210 |
Net charge-offs | (232) | (146) | (450) | (329) |
Provision (benefit) for loan and lease losses | 268 | 204 | 547 | 433 |
Allowance build (release) for loan and lease losses | 36 | 58 | 97 | 104 |
Other changes | 0 | 0 | 0 | 0 |
Balance at end of the period | 1,199 | 972 | 1,199 | 972 |
Consumer Portfolio Segment [Member] | Unfunded Lending Commitments Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 7 | 8 | 7 | 7 |
Provision (benefit) for loan and lease losses | 0 | 0 | 0 | 1 |
Balance at end of the period | 7 | 8 | 7 | 8 |
Consumer Portfolio Segment [Member] | Combined Allowance & Unfunded Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at end of the period | 1,206 | 980 | 1,206 | 980 |
Commercial Banking | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 761 | 714 | 793 | 604 |
Charge-offs | (140) | (64) | (166) | (112) |
Recoveries | 4 | 4 | 7 | 6 |
Net charge-offs | (136) | (60) | (159) | (106) |
Provision (benefit) for loan and lease losses | 141 | 185 | 135 | 356 |
Allowance build (release) for loan and lease losses | 5 | 125 | (24) | 250 |
Other changes | (8) | (18) | (11) | (33) |
Balance at end of the period | 758 | 821 | 758 | 821 |
Commercial Banking | Unfunded Lending Commitments Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 133 | 218 | 129 | 161 |
Provision (benefit) for loan and lease losses | (1) | (57) | 3 | 0 |
Balance at end of the period | 132 | 161 | 132 | 161 |
Commercial Banking | Combined Allowance & Unfunded Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at end of the period | 890 | 982 | 890 | 982 |
Other | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 2 | 3 | 2 | 4 |
Charge-offs | 0 | (1) | 0 | (2) |
Recoveries | 6 | 1 | 8 | 3 |
Net charge-offs | 6 | 0 | 8 | 1 |
Provision (benefit) for loan and lease losses | (5) | (1) | (7) | (3) |
Allowance build (release) for loan and lease losses | 1 | (1) | 1 | (2) |
Other changes | 0 | 0 | 0 | 0 |
Balance at end of the period | 3 | 2 | 3 | 2 |
Other | Unfunded Lending Commitments Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance as beginning of the period | 0 | 0 | 0 | 0 |
Provision (benefit) for loan and lease losses | 0 | 0 | 0 | 0 |
Balance at end of the period | 0 | 0 | 0 | 0 |
Other | Combined Allowance & Unfunded Reserve | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at end of the period | $ 3 | $ 2 | $ 3 | $ 2 |
Allowance for Loan and Lease 65
Allowance for Loan and Lease Losses - Components of Allowance for Loan and Lease Losses by Impairment Methodology (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Allowance for loan and lease losses by impairment methodology: | ||||||
Collectively evaluated | $ 6,677 | $ 6,007 | ||||
Asset-specific | 462 | 465 | ||||
Total allowance for loan and lease losses | 7,170 | 6,503 | ||||
Loans held for investment by impairment methodology: | ||||||
Collectively evaluated | 228,654 | 227,555 | ||||
Asset-specific | 2,753 | 2,960 | ||||
Loans held for investment | $ 244,302 | $ 245,586 | $ 234,603 | |||
Allowance as a percentage of period-end loans held for investment | 2.93% | 2.65% | ||||
Credit Card Portfolio Segment [Member] | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Collectively evaluated | $ 4,945 | $ 4,367 | ||||
Asset-specific | 265 | 239 | ||||
Total allowance for loan and lease losses | 5,210 | $ 5,058 | 4,606 | 4,086 | $ 3,785 | $ 3,654 |
Loans held for investment by impairment methodology: | ||||||
Collectively evaluated | 100,845 | 104,835 | ||||
Asset-specific | 745 | 715 | ||||
Loans held for investment | $ 101,590 | $ 105,552 | ||||
Allowance as a percentage of period-end loans held for investment | 5.13% | 4.36% | ||||
Consumer Portfolio Segment [Member] | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Collectively evaluated | $ 1,113 | $ 1,016 | ||||
Asset-specific | 56 | 57 | ||||
Total allowance for loan and lease losses | 1,199 | 1,163 | 1,102 | 972 | 914 | 868 |
Loans held for investment by impairment methodology: | ||||||
Collectively evaluated | 61,859 | 57,862 | ||||
Asset-specific | 743 | 736 | ||||
Loans held for investment | $ 74,973 | $ 73,054 | ||||
Allowance as a percentage of period-end loans held for investment | 1.60% | 1.51% | ||||
Commercial Banking | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Collectively evaluated | $ 616 | $ 622 | ||||
Asset-specific | 141 | 169 | ||||
Total allowance for loan and lease losses | 758 | 761 | 793 | 821 | 714 | 604 |
Loans held for investment by impairment methodology: | ||||||
Collectively evaluated | 65,883 | 64,794 | ||||
Asset-specific | 1,265 | 1,509 | ||||
Loans held for investment | $ 67,672 | $ 66,916 | ||||
Allowance as a percentage of period-end loans held for investment | 1.12% | 1.19% | ||||
Other | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Collectively evaluated | $ 3 | $ 2 | ||||
Asset-specific | 0 | 0 | ||||
Total allowance for loan and lease losses | 3 | $ 2 | 2 | $ 2 | $ 3 | $ 4 |
Loans held for investment by impairment methodology: | ||||||
Collectively evaluated | 67 | 64 | ||||
Asset-specific | 0 | 0 | ||||
Loans held for investment | $ 67 | $ 64 | ||||
Allowance as a percentage of period-end loans held for investment | 4.48% | 3.13% | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Financing Receivable, Allowance for Credit Losses | $ 31 | $ 31 | ||||
Loans held for investment by impairment methodology: | ||||||
Loans held for investment | 12,895 | 15,071 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Credit Card Portfolio Segment [Member] | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | ||||
Loans held for investment by impairment methodology: | ||||||
Loans held for investment | 0 | 2 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Financing Receivable, Allowance for Credit Losses | 30 | 29 | ||||
Loans held for investment by impairment methodology: | ||||||
Loans held for investment | 12,371 | 14,456 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Financing Receivable, Allowance for Credit Losses | 1 | 2 | ||||
Loans held for investment by impairment methodology: | ||||||
Loans held for investment | 524 | 613 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Other | ||||||
Allowance for loan and lease losses by impairment methodology: | ||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | ||||
Loans held for investment by impairment methodology: | ||||||
Loans held for investment | $ 0 | $ 0 |
Allowance for Loan and Lease 66
Allowance for Loan and Lease Losses Allowance for Loan and Lease Losses - Loss Sharing Arrangements (Details) - Loss Sharing Agreement [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||||
Expected reimbursement from loss sharing partners | $ 263 | $ 219 | $ 263 | $ 219 | $ 235 | $ 228 | $ 197 | $ 194 |
Impact to net charge-offs | (67) | (53) | (132) | (105) | ||||
Impact to provision for credit losses | $ 95 | $ 75 | $ 167 | $ 130 |
Variable Interest Entities an67
Variable Interest Entities and Securitizations - Carrying Amount of Assets and Liabilities of Variable Interest Entities (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | $ 30,248 | $ 34,651 |
Carrying Amount of Liabilities, Consolidated | 18,641 | 19,798 |
Carrying Amount of Assets, Unconsolidated | 4,664 | 4,250 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,335 | 1,120 |
Maximum exposure to loss | 5,619 | 5,325 |
Affordable housing entities | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 187 | 174 |
Carrying Amount of Liabilities, Consolidated | 9 | 9 |
Carrying Amount of Assets, Unconsolidated | 4,158 | 3,862 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,266 | 1,093 |
Variable Interest Entities, nonconsolidated, Carrying amount of Assets included in certain investment structures | 2,100 | 1,900 |
Variable Interest Entities, nonconsolidated, Carrying amount of liabilities included in certain investment structures | 817 | 618 |
Maximum exposure to loss | 4,158 | 3,862 |
Entities that provide capital to low-income and rural communities | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 1,127 | 927 |
Carrying Amount of Liabilities, Consolidated | 128 | 127 |
Carrying Amount of Assets, Unconsolidated | 0 | 0 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Other | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 0 | 0 |
Carrying Amount of Liabilities, Consolidated | 0 | 0 |
Carrying Amount of Assets, Unconsolidated | 318 | 187 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 0 | 0 |
Maximum exposure to loss | 318 | 187 |
Total Other VIEs | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 1,314 | 1,101 |
Carrying Amount of Liabilities, Consolidated | 137 | 136 |
Carrying Amount of Assets, Unconsolidated | 4,476 | 4,049 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,266 | 1,093 |
Maximum exposure to loss | 4,476 | 4,049 |
Credit card loan securitizations | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 28,934 | 33,550 |
Carrying Amount of Liabilities, Consolidated | 18,504 | 19,662 |
Carrying Amount of Assets, Unconsolidated | 0 | 0 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Home loan | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 0 | 0 |
Carrying Amount of Liabilities, Consolidated | 0 | 0 |
Carrying Amount of Assets, Unconsolidated | 188 | 201 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 69 | 27 |
Maximum exposure to loss | 1,143 | 1,276 |
Total securitization-related VIEs | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 28,934 | 33,550 |
Carrying Amount of Liabilities, Consolidated | 18,504 | 19,662 |
Carrying Amount of Assets, Unconsolidated | 188 | 201 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 69 | 27 |
Maximum exposure to loss | $ 1,143 | $ 1,276 |
Variable Interest Entities an68
Variable Interest Entities and Securitizations - External Debt and Receivable Balances of Securitization Programs (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Variable Interest Entity, Primary Beneficiary | ||
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items] | ||
Securities held by third-party investors, non-mortgage | $ 18,358 | $ 18,826 |
Receivables in the trust, non-mortgage | 29,438 | 31,762 |
Cash balance of spread or reserve accounts, non-mortgage | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary | Option- ARM | ||
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items] | ||
Securities held by third-party investors, mortgage | 1,361 | 1,499 |
Receivables in the trust, mortgage | 1,407 | 1,549 |
Cash balance of spread or reserve accounts, mortgage | 8 | 8 |
Variable Interest Entity, Not Primary Beneficiary | GreenPoint HELOCs | ||
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items] | ||
Securities held by third-party investors, mortgage | 47 | 56 |
Receivables in the trust, mortgage | 41 | 50 |
Variable Interest Entity, Not Primary Beneficiary | GreenPoint Manufactured Housing | ||
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items] | ||
Securities held by third-party investors, mortgage | 641 | 697 |
Receivables in the trust, mortgage | 646 | 702 |
Cash balance of spread or reserve accounts, mortgage | $ 125 | $ 130 |
Variable Interest Entities an69
Variable Interest Entities and Securitizations - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Variable Interest Entity [Line Items] | |||
Funded HELOCs advances | $ 30 | $ 30 | |
Unfunded commitment on residual interests on trusts | 5 | 5 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,335 | 1,120 | |
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 230 | $ 196 | |
Affordable Housing Tax Credits And Other Tax Benefits, Amount | 238 | $ 228 | |
Amortization Method Qualified Affordable Housing Project Investments | 4,000 | 3,800 | |
Qualified Affordable Housing Project Investments, Commitment | 1,400 | 1,200 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 30,248 | 34,651 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 4,664 | 4,250 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 5,619 | 5,325 | |
Minimum | |||
Variable Interest Entity [Line Items] | |||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2,017 | ||
Maximum | |||
Variable Interest Entity [Line Items] | |||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2,019 | ||
Affordable housing entities | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | $ 1,266 | 1,093 | |
Total assets of the unconsolidated VIE investment funds | 11,400 | 11,500 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 187 | 174 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 4,158 | 3,862 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 4,158 | 3,862 | |
Entities that provide capital to low-income and rural communities | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 0 | 0 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 1,127 | 927 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 0 | 0 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 0 | 0 | |
Other | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 0 | 0 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 0 | 0 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 318 | 187 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 318 | 187 | |
GreenPoint Manufactured Housing | |||
Variable Interest Entity [Line Items] | |||
Qualitative and Quantitative Information, Transferor's Continuing Involvement, Arrangements of Financial Support, Amount | 12 | 12 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 8 | 8 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 410 | ||
Variable Interest Entity, Not Primary Beneficiary | Option- ARM | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Liabilities Incurred | 1,361 | 1,499 | |
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | 1,407 | 1,549 | |
Variable Interest Entity, Not Primary Beneficiary | GreenPoint HELOCs | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Liabilities Incurred | 47 | 56 | |
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | 41 | 50 | |
Variable Interest Entity, Not Primary Beneficiary | GreenPoint Manufactured Housing | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Liabilities Incurred | 641 | 697 | |
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | 646 | 702 | |
Letters of credit funded | 84 | $ 85 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 410 |
Goodwill and Intangible Asset70
Goodwill and Intangible Assets - Components (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Intangible Assets by Major Class [Line Items] | ||
Goodwill, Gross | $ 14,524 | $ 14,519 |
Goodwill | 14,524 | 14,519 |
Intangible Assets, Gross (Excluding Goodwill) | 3,856 | 3,856 |
Accumulated Amortization | (3,314) | (3,191) |
Intangible Assets, Net (Excluding Goodwill) | 542 | 665 |
Intangible Assets Gross Including Goodwill | 18,380 | 18,375 |
Total goodwill and other intangible assets, Net Carrying Value | 15,066 | 15,184 |
Commercial MSRs, Gross | 314 | 276 |
Commercial MSR, Accumulated Amortization | (102) | (82) |
Consumer MSRs | 85 | 80 |
Total MSRs, Gross | 399 | 356 |
Servicing Asset at Amortized Cost | 212 | 194 |
Total MSRs, Net | 297 | 274 |
PCCR intangibles | ||
Schedule of Intangible Assets by Major Class [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 2,151 | 2,151 |
Accumulated Amortization | (1,802) | (1,715) |
Intangible Assets, Net (Excluding Goodwill) | 349 | 436 |
Core deposit intangibles | ||
Schedule of Intangible Assets by Major Class [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 1,391 | 1,391 |
Accumulated Amortization | (1,360) | (1,345) |
Intangible Assets, Net (Excluding Goodwill) | 31 | 46 |
Other Intangible Assets [Member] | ||
Schedule of Intangible Assets by Major Class [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 314 | 314 |
Accumulated Amortization | (152) | (131) |
Intangible Assets, Net (Excluding Goodwill) | $ 162 | $ 183 |
Goodwill and Intangible Asset71
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2014 | Dec. 31, 2016 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Amortization of Intangible Assets | $ 61 | $ 95 | $ 123 | $ 196 | ||
Impairment of Intangible Assets | 0 | 0 | ||||
Goodwill accumulated impairment | 0 | $ 0 | $ 0 | |||
Goodwill iImpairment loss | $ 0 | $ 0 | $ 0 |
Goodwill and Intangible Asset72
Goodwill and Intangible Assets - Goodwill Attributable to Each Business Segments (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | $ 14,519 |
Goodwill, Acquired During Period | 0 |
Other adjustments | 5 |
Goodwill, Ending Balance | 14,524 |
Commercial Banking | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | 4,901 |
Goodwill, Acquired During Period | 0 |
Other adjustments | 0 |
Goodwill, Ending Balance | 4,901 |
Credit Card | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | 5,018 |
Goodwill, Acquired During Period | 0 |
Other adjustments | 5 |
Goodwill, Ending Balance | 5,023 |
Consumer Banking | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | 4,600 |
Goodwill, Acquired During Period | 0 |
Other adjustments | 0 |
Goodwill, Ending Balance | $ 4,600 |
Deposits and Borrowings - Addit
Deposits and Borrowings - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Deposits And Borrowings [Line Items] | |||
Interest-bearing deposits | $ 213,810 | $ 211,266 | |
Securitized debt obligations | 18,358 | 18,826 | |
Proceeds from Issuance of Secured Debt | 2,991 | $ 1,920 | |
Maturities of secured debt | 3,500 | ||
Senior and subordinated notes | 28,478 | 23,431 | |
Repayments of Unsecured Debt | 1,500 | ||
Advances from Federal Home Loan Banks | 2,100 | 17,200 | |
Other Assets | |||
Deposits And Borrowings [Line Items] | |||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | 1,400 | $ 1,900 | |
Senior notes | Total unsecured senior debt | |||
Deposits And Borrowings [Line Items] | |||
Proceeds from issuance of unsecured debt | 6,500 | ||
Senior notes | Floating unsecured senior debt | |||
Deposits And Borrowings [Line Items] | |||
Proceeds from issuance of unsecured debt | 1,400 | ||
Senior notes | Fixed unsecured senior debt | |||
Deposits And Borrowings [Line Items] | |||
Proceeds from issuance of unsecured debt | $ 5,100 |
Deposits and Borrowings - Depos
Deposits and Borrowings - Deposits and Short-term Borrowings (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Deposits: | |||
Non-interest-bearing deposits | $ 25,953 | $ 25,502 | |
Interest-bearing deposits | 213,810 | 211,266 | |
Total deposits | 239,763 | 236,768 | $ 221,059 |
Short-term Debt [Line Items] | |||
Short-term borrowings | 958 | 992 | |
Federal funds purchased and securities loaned or sold under agreements to repurchase | |||
Short-term Debt [Line Items] | |||
Short-term borrowings | $ 958 | $ 992 |
Deposits and Borrowings - Long-
Deposits and Borrowings - Long-Term Debt (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Securitized debt obligations | $ 18,358 | $ 18,826 |
Long-term Debt and Capital Lease Obligations | 48,996 | 59,468 |
Debt and Capital Lease Obligations | $ 49,954 | 60,460 |
Securitized debt obligations | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.88% | |
Long-term debt | 18,826 | |
Total senior and subordinated notes | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 28,478 | 23,431 |
Senior notes | Total unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.68% | |
Long-term debt | $ 23,922 | 18,899 |
Senior notes | Fixed unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.76% | |
Long-term debt | $ 21,174 | 17,546 |
Senior notes | Floating unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.08% | |
Long-term debt | $ 2,748 | 1,353 |
Subordinated notes | Fixed unsecured subordinated debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 4.09% | |
Long-term debt | $ 4,556 | 4,532 |
FHLB advances | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.24% | |
Long-term debt | $ 2,114 | 17,179 |
Capital Lease Obligations | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 5.90% | |
Long-term debt | $ 46 | 32 |
FHLB Advance and Capital Lease Obligation | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 2,160 | $ 17,211 |
Minimum [Member] | Securitized debt obligations | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.20% | |
Minimum [Member] | Senior notes | Fixed unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |
Minimum [Member] | Senior notes | Floating unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.85% | |
Minimum [Member] | Subordinated notes | Fixed unsecured subordinated debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | |
Minimum [Member] | FHLB advances | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.20% | |
Minimum [Member] | Capital Lease Obligations | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.09% | |
Maximum [Member] | Securitized debt obligations | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | |
Maximum [Member] | Senior notes | Fixed unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | |
Maximum [Member] | Senior notes | Floating unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.33% | |
Maximum [Member] | Subordinated notes | Fixed unsecured subordinated debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.80% | |
Maximum [Member] | FHLB advances | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.54% | |
Maximum [Member] | Capital Lease Obligations | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.86% |
Deposits and Borrowings - Sched
Deposits and Borrowings - Schedule of Components of Interest Expense on Short-Term Borrowings and Long-Term Debt (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Short-term borrowings: | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | $ 1 | $ 1 | $ 2 | $ 2 |
Total short-term borrowings | 1 | 1 | 2 | 2 |
Long-term debt: | ||||
Securitized debt obligations | 82 | 47 | 151 | 95 |
Senior and subordinated notes | 179 | 111 | 328 | 217 |
Other long-term borrowings | 11 | 27 | 35 | 50 |
Total long-term debt | 272 | 185 | 514 | 362 |
Total interest expense | $ 273 | $ 186 | $ 516 | $ 364 |
Derivative Instruments and He77
Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Derivatives, Fair Value [Line Items] | ||
Decrease in derivative assets due to CME Rulebook change | $ 58 | |
Cumulative counterparty credit risk valuation adjustment | 4 | $ 6 |
Cumulative credit risk valuation adjustment related to our credit quality (less than $1 million) | 1 | $ 1 |
Gain (net after-tax) recorded in AOCI related to derivatives designated as cash flow hedges expected to be reclassified to earnings over the next 12 months | $ 47 | |
Maximum length of time over which forecasted transactions were hedged, years | 7 years | |
Decrease in derivative liabilities due to CME Rulebook change | $ 348 |
Derivative Instruments and He78
Derivative Instruments and Hedging Activities - Notional and Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Cumulative counterparty credit risk valuation adjustment | $ 4 | $ 6 |
Notional or Contractual Amount | 166,850 | 142,938 |
Derivative Assets, Gross Amount | 773 | 1,494 |
Derivative Liabilities, Gross Amount | 879 | 1,438 |
Derivative Asset, Netting Adjustment | (309) | (539) |
Derivative Liability, Netting Adjustment | (355) | (336) |
Derivative Assets | 464 | 955 |
Derivative Liability | 524 | 1,102 |
Cumulative credit risk valuation adjustment related to our credit quality (less than $1 million | 1 | 1 |
Decrease in derivative assets due to CME Rulebook change | 58 | |
Decrease in derivative liabilities due to CME Rulebook change | 348 | |
Derivatives designated as accounting hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 118,810 | 98,896 |
Derivative Assets, Gross Amount | 155 | 717 |
Derivative Liabilities, Gross Amount | 422 | 865 |
Derivatives designated as accounting hedges | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 110,292 | 90,880 |
Derivative Assets, Gross Amount | 154 | 446 |
Derivative Liabilities, Gross Amount | 178 | 856 |
Derivatives designated as accounting hedges | Interest rate contracts | Fair value hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 51,592 | 40,480 |
Derivative Assets, Gross Amount | 124 | 295 |
Derivative Liabilities, Gross Amount | 89 | 569 |
Derivatives designated as accounting hedges | Interest rate contracts | Cash flow hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 58,700 | 50,400 |
Derivative Assets, Gross Amount | 30 | 151 |
Derivative Liabilities, Gross Amount | 89 | 287 |
Derivatives designated as accounting hedges | Foreign exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 8,518 | 8,016 |
Derivative Assets, Gross Amount | 1 | 271 |
Derivative Liabilities, Gross Amount | 244 | 9 |
Derivatives designated as accounting hedges | Foreign exchange contracts | Cash flow hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 5,802 | 5,620 |
Derivative Assets, Gross Amount | 0 | 108 |
Derivative Liabilities, Gross Amount | 143 | 9 |
Derivatives designated as accounting hedges | Foreign exchange contracts | Net investment hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 2,716 | 2,396 |
Derivative Assets, Gross Amount | 1 | 163 |
Derivative Liabilities, Gross Amount | 101 | 0 |
Derivatives not designated as accounting hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 48,040 | 44,042 |
Derivative Assets, Gross Amount | 618 | 777 |
Derivative Liabilities, Gross Amount | 457 | 573 |
Derivatives not designated as accounting hedges | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 46,985 | 42,275 |
Derivative Assets, Gross Amount | 618 | 720 |
Derivative Liabilities, Gross Amount | 451 | 559 |
Derivatives not designated as accounting hedges | Interest rate contracts | MSRs | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 1,491 | 1,696 |
Derivative Assets, Gross Amount | 11 | 17 |
Derivative Liabilities, Gross Amount | 2 | 21 |
Derivatives not designated as accounting hedges | Interest rate contracts | Customer accommodation | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 42,657 | 39,474 |
Derivative Assets, Gross Amount | 571 | 670 |
Derivative Liabilities, Gross Amount | 437 | 530 |
Derivatives not designated as accounting hedges | Interest rate contracts | Other interest rate exposures | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 2,837 | 1,105 |
Derivative Assets, Gross Amount | 36 | 33 |
Derivative Liabilities, Gross Amount | 12 | 8 |
Derivatives not designated as accounting hedges | Other contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 1,055 | 1,767 |
Derivative Assets, Gross Amount | 0 | 57 |
Derivative Liabilities, Gross Amount | $ 6 | $ 14 |
Derivative Instruments and He79
Derivative Instruments and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative, Collateral, Obligation to Return Cash | $ 234 | $ 448 |
Derivatives assets(1)(2) | ||
Gross Amounts | 773 | 1,494 |
Derivative Asset, Offsetting Financial Instruments | (117) | (152) |
Derivative Assets, Offsetting Cash Collateral | (192) | (387) |
Derivative Assets | 464 | 955 |
Derivative Asset, Securities Not Netted | 0 | (11) |
Net Exposure | 464 | 944 |
Derivative, Collateral, Obligation to Return Securities | 1 | 16 |
Derivative, Collateral, Right to Reclaim Cash | $ 837 | $ 1,500 |
Derivative Instruments and He80
Derivative Instruments and Hedging Activities - Offsetting Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Derivatives liabilities(1)(2) | ||
Derivative Liabilities, Gross Amount | $ 879 | $ 1,438 |
Derivative Liability, Offsetting Financial Instruments | (117) | (152) |
Derivative Liability, Offsetting Cash Collateral | (238) | (184) |
Derivative Liability | 524 | 1,102 |
Derivative Liability, Securities Collateral Not Netted | 0 | 0 |
Net Exposure | 524 | 1,102 |
Repurchase agreements(3) | ||
Gross Amounts | 958 | 992 |
Securities Sold under Agreements to Repurchase, Asset | 0 | 0 |
Repurchase Agreement, Collateral, Right To Reclaim Cash, Offset | 0 | 0 |
Net Amounts as Recognized | 958 | 992 |
Offsetting Amounts Not Netted, Collateral Pledged | (958) | (992) |
Net Exposure | 0 | 0 |
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 977 | |
Derivative, Collateral, Obligation to Return Cash | 234 | 448 |
Derivative, Collateral, Obligation to Return Securities | 1 | 16 |
Derivative, Collateral, Right to Reclaim Cash | $ 837 | $ 1,500 |
Derivative Instruments and He81
Derivative Instruments and Hedging Activities - Net Gains (Losses) Recognized in Earnings Related to Derivatives in Fair Value Hedging Relationships and Free-Standing Derivatives (Details) - Other Non-Interest Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net derivative gains recognized in earnings | $ 29 | $ 29 | $ 40 | $ 75 |
Derivatives designated as accounting hedges | Fair value hedges | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains recognized in earnings on derivatives | 138 | 182 | 93 | 390 |
Losses recognized in earnings on hedged items | (132) | (175) | (93) | (367) |
Net fair value hedge ineffectiveness gains (losses) | 6 | 7 | 0 | 23 |
Derivatives not designated as accounting hedges | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on derivatives not designated as accounting hedges | 23 | 22 | 40 | 52 |
Derivatives not designated as accounting hedges | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on derivatives not designated as accounting hedges | 23 | 31 | 40 | 61 |
Derivatives not designated as accounting hedges | Interest rate contracts | MSRs | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on derivatives not designated as accounting hedges | 3 | 8 | 3 | 18 |
Derivatives not designated as accounting hedges | Interest rate contracts | Customer accommodation | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on derivatives not designated as accounting hedges | 6 | 7 | 16 | 12 |
Derivatives not designated as accounting hedges | Interest rate contracts | Other interest rate exposures | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on derivatives not designated as accounting hedges | 14 | 16 | 21 | 31 |
Derivatives not designated as accounting hedges | Other contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on derivatives not designated as accounting hedges | $ 0 | $ (9) | $ 0 | $ (9) |
Derivative Instruments and He82
Derivative Instruments and Hedging Activities - Net Gains (Losses) Related to Derivatives Designated as Cash Flow Hedges and Net Investment Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in AOCI | $ 16 | $ 314 | $ (32) | $ 781 |
Other Non-Interest Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net derivative gains recognized in earnings | 29 | 29 | 40 | 75 |
Cash flow hedges | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in AOCI | 74 | 192 | 48 | 618 |
Gains (losses) reclassified from AOCI into earnings | 29 | 49 | 69 | 98 |
Net derivative gains recognized in earnings | 33 | 49 | 72 | 101 |
Cash flow hedges | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in AOCI | 69 | 192 | 39 | 618 |
Cash flow hedges | Interest rate contracts | Interest Income (Expense) | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from AOCI into earnings | 24 | 48 | 61 | 98 |
Cash flow hedges | Interest rate contracts | Other Non-Interest Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in earnings due to ineffectiveness | 4 | 0 | 3 | 3 |
Cash flow hedges | Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in AOCI | 5 | 0 | 9 | 0 |
Cash flow hedges | Foreign exchange contracts | Other Non-Interest Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from AOCI into earnings | 5 | 1 | 8 | 0 |
Net investment hedges | Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in AOCI | $ (58) | $ 122 | $ (80) | $ 163 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Preferred Stock (Details) $ / shares in Units, $ in Millions | 6 Months Ended | |
Jun. 30, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | |
Class of Stock [Line Items] | ||
Depository Share, Percent Interest in Preferred Stock | 0.025 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 4,360 | $ 4,360 |
Series B Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 6.00% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 875,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 853 | 853 |
Series C Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 6.25% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 500,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 484 | 484 |
Series D Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 6.70% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 500,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 485 | 485 |
Series E Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 5.55% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 1,000,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 988 | 988 |
Preferred Stock, Dividend Payment Rate, Variable | Libor + 380 bps | |
Preferred Stock Dividend Rate, Variable | 3.80% | |
Series F Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 6.20% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 500,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 484 | 484 |
Series G Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 5.20% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 600,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 583 | 583 |
Series H Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Dividend Rate, Percentage | 6.00% | |
Redemption Price per Depositary Share (in dollars per share) | $ / shares | $ 1,000 | |
Number of Depositary Shares (in shares) | shares | 500,000 | |
Preferred Stock, Including Additional Paid in Capital, Net of Discount | $ 483 | $ 483 |
Stockholders' Equity - Change i
Stockholders' Equity - Change in AOCI Gain (Loss) by Component (Net of Tax) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
AOCI beginning balance | $ (934) | $ (41) | $ (949) | $ (616) |
Other comprehensive income (loss) before reclassifications | 256 | 307 | 290 | 903 |
Net realized (gains) losses reclassified from AOCI into earnings | (5) | (25) | (24) | (46) |
Other comprehensive income (loss), net of tax | 251 | 282 | 266 | 857 |
AOCI ending balance | (683) | 241 | (683) | 241 |
Accumulated Net Unrealized Investment Gain (Loss) | Available-for-sale Securities | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
AOCI beginning balance | 32 | 349 | (4) | 162 |
Other comprehensive income (loss) before reclassifications | 147 | 137 | 183 | 319 |
Net realized (gains) losses reclassified from AOCI into earnings | 2 | (1) | 2 | 4 |
Other comprehensive income (loss), net of tax | 149 | 136 | 185 | 323 |
AOCI ending balance | 181 | 485 | 181 | 485 |
Accumulated Net Unrealized Investment Gain (Loss) | Securities Held to Maturity | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
AOCI beginning balance | (598) | (704) | (621) | (725) |
Other comprehensive income (loss) before reclassifications | 0 | 0 | 0 | 0 |
Net realized (gains) losses reclassified from AOCI into earnings | 23 | 25 | 46 | 46 |
Other comprehensive income (loss), net of tax | 23 | 25 | 46 | 46 |
AOCI ending balance | (575) | (679) | (575) | (679) |
Cash Flow Hedges | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
AOCI beginning balance | (144) | 497 | (78) | 120 |
Other comprehensive income (loss) before reclassifications | 74 | 192 | 48 | 618 |
Net realized (gains) losses reclassified from AOCI into earnings | (29) | (49) | (69) | (98) |
Other comprehensive income (loss), net of tax | 45 | 143 | (21) | 520 |
AOCI ending balance | (99) | 640 | (99) | 640 |
Foreign Currency Translation Adjustments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
AOCI beginning balance | (205) | (142) | (222) | (143) |
Other comprehensive income (loss) before reclassifications | 31 | (30) | 48 | (29) |
Net realized (gains) losses reclassified from AOCI into earnings | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 31 | (30) | 48 | (29) |
AOCI ending balance | (174) | (172) | (174) | (172) |
Other | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
AOCI beginning balance | (19) | (41) | (24) | (30) |
Other comprehensive income (loss) before reclassifications | 4 | 8 | 11 | (5) |
Net realized (gains) losses reclassified from AOCI into earnings | (1) | 0 | (3) | 2 |
Other comprehensive income (loss), net of tax | 3 | 8 | 8 | (3) |
AOCI ending balance | $ (16) | $ (33) | $ (16) | $ (33) |
Stockholders' Equity - Reclassi
Stockholders' Equity - Reclassifications from AOCI (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Non-interest income | $ (141) | $ (147) | $ (261) | $ (292) |
Interest income | 5,473 | 5,093 | 10,947 | 10,149 |
Income from continuing operations before income taxes | 1,490 | 1,367 | 2,599 | 2,837 |
Income tax provision (benefit) | 443 | 424 | 757 | 876 |
Net income | 1,036 | 942 | 1,846 | 1,955 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income | 5 | 25 | 24 | 46 |
Accumulated Net Unrealized Investment Gain (Loss) | Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale Securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Non-interest income | (4) | 1 | (4) | (7) |
Income tax provision (benefit) | (2) | 0 | (2) | (3) |
Net income | (2) | 1 | (2) | (4) |
Accumulated Net Unrealized Investment Gain (Loss) | Reclassification out of Accumulated Other Comprehensive Income [Member] | Securities Held to Maturity | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income | (37) | (40) | (73) | (73) |
Income tax provision (benefit) | (14) | (15) | (27) | (27) |
Net income | (23) | (25) | (46) | (46) |
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income from continuing operations before income taxes | 46 | 79 | 110 | 156 |
Income tax provision (benefit) | 17 | 30 | 41 | 58 |
Net income | 29 | 49 | 69 | 98 |
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest rate contracts | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income | 39 | 78 | 97 | 157 |
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign exchange contracts | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Non-interest income | 0 | 0 | 0 | (1) |
Interest income | 7 | 1 | 13 | 0 |
Other | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income from continuing operations before income taxes | 2 | 0 | 4 | (2) |
Income tax provision (benefit) | 1 | 0 | 1 | 0 |
Net income | $ 1 | $ 0 | $ 3 | $ (2) |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Other Comprehensive Income Loss and Related Tax Impact (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Before Tax | ||||
Net unrealized gains (losses) on securities available for sale | $ 237 | $ 212 | $ 283 | $ 508 |
Net changes in securities held to maturity | 37 | 41 | 73 | 74 |
Net unrealized gains (losses) on cash flow hedges | 72 | 227 | (32) | 827 |
Foreign currency translation adjustments | (3) | 40 | 1 | 66 |
Other | 5 | 12 | 12 | (5) |
Other comprehensive income before taxes | 348 | 532 | 337 | 1,470 |
Provision (Benefit) | ||||
Net unrealized gains on securities available for sale | 88 | 76 | 98 | 185 |
Net changes in securities held to maturity | 14 | 16 | 27 | 28 |
Net unrealized gains (losses) on cash flow hedges | 27 | 84 | (11) | 307 |
Foreign currency translation adjustments | (34) | 70 | (47) | 95 |
Other | 2 | 4 | 4 | (2) |
Other comprehensive income (loss), provision (benefit) | 97 | 250 | 71 | 613 |
After Tax | ||||
Net unrealized gains on securities available for sale | 149 | 136 | 185 | 323 |
Net changes in securities held to maturity | 23 | 25 | 46 | 46 |
Net unrealized gains (losses) on cash flow hedges | 45 | 143 | (21) | 520 |
Foreign currency translation adjustments | 31 | (30) | 48 | (29) |
Other | 3 | 8 | 8 | (3) |
Other comprehensive income (loss), net of tax | $ 251 | $ 282 | $ 266 | $ 857 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Income from continuing operations, net of tax | $ 1,047 | $ 943 | $ 1,842 | $ 1,961 |
Income (loss) from discontinued operations, net of tax | (11) | (1) | 4 | (6) |
Net income | 1,036 | 942 | 1,846 | 1,955 |
Dividends and undistributed earnings allocated to participating securities | (8) | (6) | (13) | (12) |
Preferred stock dividends | (80) | (65) | (133) | (102) |
Net income available to common stockholders | $ 948 | $ 871 | $ 1,700 | $ 1,841 |
Total weighted-average basic shares outstanding | 484 | 511.7 | 483.1 | 517.6 |
Effect of dilutive securities: | ||||
Stock options | 2.4 | 2 | 2.6 | 1.9 |
Other contingently issuable shares | 1 | 1.2 | 1.2 | 1.2 |
Warrants | 0.7 | 1.6 | 0.8 | 1.6 |
Total effect of dilutive securities | 4.1 | 4.8 | 4.6 | 4.7 |
Total weighted-average diluted shares outstanding | 488.1 | 516.5 | 487.7 | 522.3 |
Basic earnings per common share: | ||||
Net income from continuing operations (in dollars per share) | $ 1.98 | $ 1.70 | $ 3.51 | $ 3.57 |
Income (loss) from discontinued operations (in dollars per share) | (0.02) | 0 | 0.01 | (0.01) |
Net income per basic common share (in dollars per share) | 1.96 | 1.70 | 3.52 | 3.56 |
Diluted earnings per common share: | ||||
Net income from continuing operations (in dollars per share) | 1.96 | 1.69 | 3.48 | 3.53 |
Income (loss) from discontinued operations (in dollars per share) | (0.02) | 0 | 0.01 | (0.01) |
Net income per diluted common share (in dollars per share) | $ 1.94 | $ 1.69 | $ 3.49 | $ 3.52 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - $ / shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Stock Option | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive options excluded from the computation of diluted earnings per share (in shares) | 0.3 | 2.1 | 0.3 | 2.5 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 82.08 | $ 63.73 | $ 82.08 | $ 63.73 |
Maximum exercise price range | $ 86.34 | $ 82.62 | $ 86.34 | $ 88.81 |
Warrant | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Class of Warrant or Right, Outstanding | 1.4 | 4.1 | 1.4 | 4.1 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Securities available for sale: | ||
Securities available for sale | $ 41,120 | $ 40,737 |
Other assets: | ||
Derivative Assets, Gross Amount | 773 | 1,494 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (309) | (539) |
Consumer MSRs | 85 | 80 |
Liabilities: | ||
Derivative Liabilities, Gross Amount | 879 | 1,438 |
Derivative Asset | 464 | 955 |
Derivative Liabilities | 524 | 1,102 |
Derivative Credit Risk Valuation Adjustment, Derivative Assets (Liabilities) | 3 | 5 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (355) | (336) |
Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale: | ||
Securities available for sale | 41,120 | 40,737 |
Other assets: | ||
Derivative Assets, Gross Amount | 464 | 955 |
Other Assets Fair Value, Amount | 529 | 500 |
Total assets | 42,113 | 42,192 |
Liabilities: | ||
Derivative Liabilities, Gross Amount | 524 | 1,102 |
Total liabilities | 524 | 1,102 |
Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities available for sale: | ||
Securities available for sale | 5,496 | 5,360 |
Other assets: | ||
Derivative Assets, Gross Amount | 2 | 7 |
Other Assets Fair Value, Amount | 256 | 219 |
Deferred Compensation Plan Assets | 256 | 219 |
Total assets | 5,754 | 5,586 |
Liabilities: | ||
Derivative Liabilities, Gross Amount | 1 | 12 |
Total liabilities | 1 | 12 |
Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities available for sale: | ||
Securities available for sale | 35,169 | 34,799 |
Other assets: | ||
Derivative Assets, Gross Amount | 714 | 1,440 |
Other Assets Fair Value, Amount | 0 | 0 |
Total assets | 35,883 | 36,239 |
Liabilities: | ||
Derivative Liabilities, Gross Amount | 846 | 1,397 |
Total liabilities | 846 | 1,397 |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities available for sale: | ||
Securities available for sale | 455 | 578 |
Other assets: | ||
Derivative Assets, Gross Amount | 57 | 47 |
Other Assets Fair Value, Amount | 273 | 281 |
Consumer MSRs | 85 | 80 |
Retained interests in securitizations | 188 | 201 |
Total assets | 785 | 906 |
Liabilities: | ||
Derivative Liabilities, Gross Amount | 32 | 29 |
Total liabilities | 32 | 29 |
US Treasury securities | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale: | ||
Securities available for sale | 5,215 | 5,065 |
US Treasury securities | Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities available for sale: | ||
Securities available for sale | 5,215 | 5,065 |
US Treasury securities | Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities available for sale: | ||
Securities available for sale | 0 | 0 |
US Treasury securities | Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities available for sale: | ||
Securities available for sale | 0 | 0 |
RMBS | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale: | ||
Securities available for sale | 29,128 | 29,249 |
RMBS | Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities available for sale: | ||
Securities available for sale | 0 | 0 |
RMBS | Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities available for sale: | ||
Securities available for sale | 28,699 | 28,731 |
RMBS | Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities available for sale: | ||
Securities available for sale | 429 | 518 |
CMBS | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale: | ||
Securities available for sale | 4,926 | 4,988 |
CMBS | Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities available for sale: | ||
Securities available for sale | 0 | 0 |
CMBS | Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities available for sale: | ||
Securities available for sale | 4,909 | 4,937 |
CMBS | Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities available for sale: | ||
Securities available for sale | 17 | 51 |
Other ABS | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale: | ||
Securities available for sale | 627 | 714 |
Other ABS | Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities available for sale: | ||
Securities available for sale | 0 | 0 |
Other ABS | Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities available for sale: | ||
Securities available for sale | 627 | 714 |
Other ABS | Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities available for sale: | ||
Securities available for sale | 0 | 0 |
Other securities | Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale: | ||
Securities available for sale | 1,224 | 721 |
Other securities | Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities available for sale: | ||
Securities available for sale | 281 | 295 |
Other securities | Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities available for sale: | ||
Securities available for sale | 934 | 417 |
Other securities | Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities available for sale: | ||
Securities available for sale | $ 9 | $ 9 |
Fair Value Measurement Fair Val
Fair Value Measurement Fair Value Measurement - Schedule of Level 3 Inputs Reconciliation for Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Available-for-sale Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 536 | $ 797 | $ 578 | $ 615 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 8 | 7 | 17 | 13 |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 10 | 12 | 18 | 8 |
Purchases | 0 | 130 | 60 | 253 |
Sales | (5) | 0 | (5) | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (25) | (37) | (48) | (61) |
Transfers Into Level 3 | 159 | 80 | 212 | 271 |
Transfers Out of Level 3 | (228) | (257) | (377) | (367) |
Ending balance | 455 | 732 | 455 | 732 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 8 | 8 | 17 | 14 |
RMBS | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 449 | 505 | 518 | 504 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 8 | 7 | 17 | 13 |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 10 | 11 | 18 | 6 |
Purchases | 0 | 59 | 0 | 59 |
Sales | (5) | 0 | (5) | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (24) | (31) | (46) | (48) |
Transfers Into Level 3 | 159 | 80 | 212 | 207 |
Transfers Out of Level 3 | (168) | (76) | (285) | (186) |
Ending balance | 429 | 555 | 429 | 555 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 8 | 8 | 17 | 14 |
CMBS | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 78 | 251 | 51 | 97 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 0 | 0 | 0 | 0 |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 1 | 0 | 2 |
Purchases | 0 | 63 | 60 | 156 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | (6) | (2) | (10) |
Transfers Into Level 3 | 0 | 0 | 0 | 64 |
Transfers Out of Level 3 | (60) | (181) | (92) | (181) |
Ending balance | 17 | 128 | 17 | 128 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 0 | 0 | 0 |
Other ABS | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 30 | 0 | ||
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 0 | 0 | ||
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | ||
Purchases | 0 | 30 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers Into Level 3 | 0 | 0 | ||
Transfers Out of Level 3 | 0 | 0 | ||
Ending balance | 30 | 30 | ||
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 0 | ||
Other securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 9 | 11 | 9 | 14 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 0 | 0 | 0 | 0 |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 8 | 8 | ||
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (3) |
Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Transfers Out of Level 3 | 0 | 0 | 0 | 0 |
Ending balance | 9 | 19 | 9 | 19 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 0 | 0 | 0 |
Consumer MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 86 | 59 | 80 | 68 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | (5) | (8) | (4) | (20) |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 5 | 4 | 12 | 8 |
Settlements | (1) | (2) | (3) | (3) |
Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Transfers Out of Level 3 | 0 | 0 | 0 | 0 |
Ending balance | 85 | 53 | 85 | 53 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | (5) | (8) | (4) | (20) |
Derivative Financial Instruments, Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 53 | 71 | 47 | 57 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 4 | 9 | 3 | 28 |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 22 | 30 | 40 | 42 |
Settlements | (15) | (15) | (25) | (26) |
Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Transfers Out of Level 3 | (7) | (10) | (8) | (16) |
Ending balance | 57 | 85 | 57 | 85 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 4 | 9 | 3 | 28 |
Retained interest in securitizations | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 195 | 201 | 201 | 211 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | (7) | 2 | (13) | (8) |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Transfers Out of Level 3 | 0 | 0 | 0 | 0 |
Ending balance | 188 | 203 | 188 | 203 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | $ (7) | $ 2 | $ (13) | $ (8) |
Fair Value Measurement Fair V91
Fair Value Measurement Fair Value Measurement - Schedule of Level 3 Inputs Reconciliation for Liabilities (Details) - Derivative Financial Instruments, Liabilities [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (31) | $ (40) | $ (29) | $ (27) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (3) | (15) | (2) | (29) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | (7) | (24) | (13) | (31) |
Settlements | 7 | 10 | 10 | 13 |
Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Transfers Out of Level 3 | 2 | 2 | 2 | 7 |
Ending balance | (32) | (67) | (32) | (67) |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | $ (3) | $ (15) | $ (2) | $ (29) |
Fair Value Measurement - Sche92
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Recurring Basis Quantitative Information about Level 3 Fair Value Measurements (Detail) $ in Millions | Jun. 30, 2017USD ($)$ / SecurityLoan | Dec. 31, 2016USD ($)$ / SecurityLoan |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 41,120 | $ 40,737 |
Derivative Assets, Gross Amount | 773 | 1,494 |
Consumer MSRs | 85 | 80 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 41,120 | 40,737 |
Derivative Assets, Gross Amount | 464 | 955 |
Fair Value, Measurements, Recurring [Member] | RMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 29,128 | 29,249 |
Fair Value, Measurements, Recurring [Member] | CMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 4,926 | 4,988 |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 455 | 578 |
Derivative Assets, Gross Amount | 57 | 47 |
Consumer MSRs | 85 | 80 |
Retained interests in securitizations | 188 | 201 |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 429 | $ 518 |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 1.00% | 0.00% |
Constant prepayment rate (percent) | 0.00% | 0.00% |
Default rate (percent) | 0.00% | 0.00% |
Loss severity (percent) | 9.00% | 9.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 9.00% | 15.00% |
Constant prepayment rate (percent) | 33.00% | 30.00% |
Default rate (percent) | 17.00% | 16.00% |
Loss severity (percent) | 90.00% | 87.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 5.00% | 5.00% |
Constant prepayment rate (percent) | 4.00% | 4.00% |
Default rate (percent) | 4.00% | 4.00% |
Loss severity (percent) | 58.00% | 57.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | CMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 17 | $ 51 |
Fair Value, Measurements, Recurring [Member] | Level 3 | CMBS | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 2.00% |
Constant prepayment rate (percent) | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | CMBS | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 2.00% |
Constant prepayment rate (percent) | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | CMBS | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 2.00% |
Constant prepayment rate (percent) | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 9 | $ 9 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 2.00% | 1.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 2.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 2.00% | 1.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative assets | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Assets, Gross Amount | $ 57 | $ 47 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative assets | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 2.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative assets | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 3.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative assets | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 2.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Consumer MSRs | $ 85 | $ 80 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Total prepayment rate (percent) | 8.00% | 8.00% |
Discount rate (percent) | 16.00% | 15.00% |
Option adjusted spread rate (percent) | 5.00% | 5.80% |
Servicing cost ($ per loan) | $ / SecurityLoan | 75 | 75 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Total prepayment rate (percent) | 21.00% | 20.00% |
Discount rate (percent) | 16.00% | 15.00% |
Option adjusted spread rate (percent) | 15.00% | 15.00% |
Servicing cost ($ per loan) | $ / SecurityLoan | 100 | 100 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Total prepayment rate (percent) | 15.00% | 15.00% |
Discount rate (percent) | 16.00% | 15.00% |
Option adjusted spread rate (percent) | 5.85% | 6.36% |
Servicing cost ($ per loan) | $ / SecurityLoan | 76 | 76 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Retained interest in securitizations | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Retained interests in securitizations | $ 188 | $ 201 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Retained interest in securitizations | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Life of receivables (months) | 2 months | 6 months |
Constant prepayment rate (percent) | 2.00% | 2.00% |
Default rate (percent) | 1.00% | 1.00% |
Loss severity (percent) | 9.00% | 7.00% |
Discount rate (percent) | 3.00% | 4.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Retained interest in securitizations | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Life of receivables (months) | 85 months | 87 months |
Constant prepayment rate (percent) | 11.00% | 11.00% |
Default rate (percent) | 5.00% | 6.00% |
Loss severity (percent) | 111.00% | 102.00% |
Discount rate (percent) | 12.00% | 11.00% |
Fair Value Measurement Fair V93
Fair Value Measurement Fair Value Measurement - Schedule of Liabilities Measured at Fair Value on Recurring Basis Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Derivative Liabilities, Gross Amount | $ 879 | $ 1,438 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Derivative Liabilities, Gross Amount | 524 | 1,102 |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Derivative Liabilities, Gross Amount | 32 | 29 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative liabilities | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Derivative Liabilities, Gross Amount | $ 32 | $ 29 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative liabilities | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 2.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative liabilities | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 2.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Derivative liabilities | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 2.00% | 2.00% |
Fair Value Measurement - Sche94
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | $ 0 | $ 0 |
Loans held for sale | 783 | 1,038 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 241,048 | 242,935 |
Loans held for sale | 2 | 0 |
Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 390 | 587 |
Loans held for sale | 560 | 157 |
Other Assets, Fair Value Disclosure | 35 | 83 |
Total | 985 | 827 |
Nonrecurring | Other Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed Properties and Repossessed Assets | 34 | 43 |
Long Lived Assets Held for Sale | 1 | 40 |
Nonrecurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 0 | 0 |
Loans held for sale | 559 | 157 |
Other Assets, Fair Value Disclosure | 0 | 0 |
Total | 559 | 157 |
Nonrecurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 390 | 587 |
Loans held for sale | 1 | 0 |
Other Assets, Fair Value Disclosure | 35 | 83 |
Total | $ 426 | $ 670 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - Level 3 - Loans Held for Investment - Appraisal Value | Jun. 30, 2017 | Dec. 31, 2016 |
Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-recoverable rate | 0.00% | 0.00% |
Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-recoverable rate | 17.00% | 73.00% |
Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-recoverable rate | 9.00% | 16.00% |
Fair Value Measurement - Sche96
Fair Value Measurement - Schedule of Earnings Related to Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Assets: | ||
Loans held for investment | $ (116) | $ (105) |
Loans held for sale | (3) | 0 |
Other assets | (6) | (6) |
Total | $ (125) | $ (111) |
Fair Value Measurement - Sche97
Fair Value Measurement - Schedule of Fair Value of Financial Instruments (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets: | ||
Securities held to maturity | $ 28,423 | $ 26,196 |
Level 1 | ||
Financial assets: | ||
Cash and cash equivalents | 3,352 | 4,185 |
Restricted cash for securitization investors | 300 | 2,517 |
Securities held to maturity | 199 | 199 |
Net loans held for investment | 0 | 0 |
Loans held for sale | 0 | 0 |
Interest receivable | 0 | 0 |
Other investments | 0 | 0 |
Financial liabilities: | ||
Deposits | 25,953 | 25,502 |
Securitized debt obligations | 0 | 0 |
Senior and subordinated notes | 0 | 0 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 0 |
Interest payable | 0 | 0 |
Level 2 | ||
Financial assets: | ||
Cash and cash equivalents | 3,363 | 5,791 |
Restricted cash for securitization investors | 0 | 0 |
Securities held to maturity | 28,185 | 25,962 |
Net loans held for investment | 0 | 0 |
Loans held for sale | 783 | 1,038 |
Interest receivable | 1,346 | 1,351 |
Other investments | 1,471 | 2,020 |
Financial liabilities: | ||
Deposits | 214,320 | 211,580 |
Securitized debt obligations | 18,477 | 18,920 |
Senior and subordinated notes | 28,937 | 23,774 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 958 | 992 |
Other borrowings | 2,114 | 17,180 |
Interest payable | 376 | 327 |
Level 3 | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash for securitization investors | 0 | 0 |
Securities held to maturity | 39 | 35 |
Net loans held for investment | 241,048 | 242,935 |
Loans held for sale | 2 | 0 |
Interest receivable | 0 | 0 |
Other investments | 10 | 9 |
Financial liabilities: | ||
Deposits | 0 | 0 |
Securitized debt obligations | 0 | 0 |
Senior and subordinated notes | 0 | 0 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 0 |
Interest payable | 0 | 0 |
Carrying Value | ||
Financial assets: | ||
Cash and cash equivalents | 6,715 | 9,976 |
Restricted cash for securitization investors | 300 | 2,517 |
Securities held to maturity | 27,720 | 25,712 |
Net loans held for investment | 237,132 | 239,083 |
Loans held for sale | 777 | 1,043 |
Interest receivable | 1,346 | 1,351 |
Other investments | 1,481 | 2,029 |
Financial liabilities: | ||
Deposits | 239,763 | 236,768 |
Securitized debt obligations | 18,358 | 18,826 |
Senior and subordinated notes | 28,478 | 23,431 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 958 | 992 |
Other borrowings | 2,160 | 17,211 |
Interest payable | 376 | 327 |
Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 6,715 | 9,976 |
Restricted cash for securitization investors | 300 | 2,517 |
Securities held to maturity | 28,423 | 26,196 |
Net loans held for investment | 241,048 | 242,935 |
Loans held for sale | 785 | 1,038 |
Interest receivable | 1,346 | 1,351 |
Other investments | 1,481 | 2,029 |
Financial liabilities: | ||
Deposits | 240,273 | 237,082 |
Securitized debt obligations | 18,477 | 18,920 |
Senior and subordinated notes | 28,937 | 23,774 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 958 | 992 |
Other borrowings | 2,114 | 17,180 |
Interest payable | $ 376 | $ 327 |
Business Segments - Additional
Business Segments - Additional Information (Detail) - Segment | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Segment Reporting Information [Line Items] | ||
Number of Operating Segments | 3 | 3 |
Business Segments - Schedule of
Business Segments - Schedule of Segment Results and Reconciliation (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||
Net interest income | $ 5,473 | $ 5,093 | $ 10,947 | $ 10,149 | |
Non-interest income | 1,231 | 1,161 | 2,292 | 2,325 | |
Total net revenue | 6,704 | 6,254 | 13,239 | 12,474 | |
Provision for loan, lease and other losses | 1,800 | 1,592 | 3,792 | 3,119 | |
Total non-interest expense | 3,414 | 3,295 | 6,848 | 6,518 | |
Income from continuing operations before income taxes | 1,490 | 1,367 | 2,599 | 2,837 | |
Income tax provision (benefit) | 443 | 424 | 757 | 876 | |
Income from continuing operations, net of tax | 1,047 | 943 | 1,842 | 1,961 | |
Loans held for investment | 244,302 | 234,603 | 244,302 | 234,603 | $ 245,586 |
Total deposits | 239,763 | 221,059 | 239,763 | 221,059 | 236,768 |
Operating Segments | Credit Card | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 3,294 | 3,045 | 6,640 | 6,078 | |
Non-interest income | 875 | 859 | 1,613 | 1,706 | |
Total net revenue | 4,169 | 3,904 | 8,253 | 7,784 | |
Provision for loan, lease and other losses | 1,397 | 1,261 | 3,114 | 2,332 | |
Total non-interest expense | 1,918 | 1,883 | 3,847 | 3,746 | |
Income from continuing operations before income taxes | 854 | 760 | 1,292 | 1,706 | |
Income tax provision (benefit) | 301 | 276 | 468 | 613 | |
Income from continuing operations, net of tax | 553 | 484 | 824 | 1,093 | |
Loans held for investment | 101,590 | 96,904 | 101,590 | 96,904 | |
Total deposits | 0 | 0 | 0 | 0 | |
Operating Segments | Consumer Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 1,578 | 1,439 | 3,095 | 2,859 | |
Non-interest income | 183 | 175 | 378 | 366 | |
Total net revenue | 1,761 | 1,614 | 3,473 | 3,225 | |
Provision for loan, lease and other losses | 268 | 204 | 547 | 434 | |
Total non-interest expense | 1,059 | 1,006 | 2,101 | 1,996 | |
Income from continuing operations before income taxes | 434 | 404 | 825 | 795 | |
Income tax provision (benefit) | 158 | 147 | 301 | 289 | |
Income from continuing operations, net of tax | 276 | 257 | 524 | 506 | |
Loans held for investment | 74,973 | 71,415 | 74,973 | 71,415 | 66,916 |
Total deposits | 186,607 | 176,340 | 186,607 | 176,340 | |
Operating Segments | Commercial Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 569 | 559 | 1,135 | 1,096 | |
Non-interest income | 183 | 129 | 341 | 247 | |
Total net revenue | 752 | 688 | 1,476 | 1,343 | |
Provision for loan, lease and other losses | 140 | 128 | 138 | 356 | |
Total non-interest expense | 381 | 343 | 772 | 665 | |
Income from continuing operations before income taxes | 231 | 217 | 566 | 322 | |
Income tax provision (benefit) | 85 | 79 | 207 | 117 | |
Income from continuing operations, net of tax | 146 | 138 | 359 | 205 | |
Loans held for investment | 67,672 | 66,202 | 67,672 | 66,202 | $ 66,916 |
Total deposits | 33,153 | 34,281 | 33,153 | 34,281 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 32 | 50 | 77 | 116 | |
Non-interest income | (10) | (2) | (40) | 6 | |
Total net revenue | 22 | 48 | 37 | 122 | |
Provision for loan, lease and other losses | (5) | (1) | (7) | (3) | |
Total non-interest expense | 56 | 63 | 128 | 111 | |
Income from continuing operations before income taxes | (29) | (14) | (84) | 14 | |
Income tax provision (benefit) | (101) | (78) | (219) | (143) | |
Income from continuing operations, net of tax | 72 | 64 | 135 | 157 | |
Loans held for investment | 67 | 82 | 67 | 82 | |
Total deposits | $ 20,003 | $ 10,438 | $ 20,003 | $ 10,438 |
Commitments, Contingencies, 100
Commitments, Contingencies, Guarantees, and Others Commitments, Contingencies, Guarantees, and Others - Schedule of letter of credit and other loan commitments (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Letter of Credit Issued Contractual Amount and Unused Commitment to Extend Credit | $ 349,514 | $ 343,202 |
Off-balance Sheet Lending Commitment Carrying Value | 144 | 140 |
Credit Card Portfolio Segment [Member] | ||
Loss Contingencies [Line Items] | ||
Unused Commitments to Extend Credit | 317,662 | 312,864 |
Other Portfolio Segments, Excluding Credit Card | ||
Loss Contingencies [Line Items] | ||
Unused Commitments to Extend Credit | 29,802 | 28,402 |
Off-balance Sheet Lending Commitment Carrying Value | 101 | 98 |
Advised Line of Credit | 902 | 699 |
Letter of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 2,050 | 1,936 |
Off-balance Sheet Lending Commitment Carrying Value | $ 43 | $ 42 |
Commitments, Contingencies, 101
Commitments, Contingencies, Guarantees, and Others - Guarantees, Loss Sharing, U.K Cross Sell (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Loss Contingencies [Line Items] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 5,619 | $ 5,325 | |
Insurance Claims [Member] | |||
Loss Contingencies [Line Items] | |||
Loss contingency accrual | 315 | 238 | |
Loss accrual increase (decrease) | 0 | $ 99 | |
Loss Contingency, Range of Possible Loss, Portion Not Accrued | 200 | ||
Gpm Mfh [Member] | |||
Loss Contingencies [Line Items] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 410 | ||
Loss contingency accrual | 42 | ||
Loss Sharing Agreement | |||
Loss Contingencies [Line Items] | |||
Guarantee Obligation | $ 51 | $ 48 |
Commitments, Contingencies, 102
Commitments, Contingencies, Guarantees, and Others - Schedule of Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser (Details) $ in Millions | 6 Months Ended | 49 Months Ended | |
Jun. 30, 2017USD ($) | Feb. 28, 2009Subsidiary | Dec. 31, 2016USD ($) | |
Loss Contingencies [Line Items] | |||
Number of subsidiaries acquired that originated residential mortgage loans | Subsidiary | 3 | ||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Losses realized by third party | $ 23,000 | ||
Increase (Decrease) In Unresolved Repurchase Claims Face Amount | 717 | ||
Subsidiaries | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Estimated Unpaid Principal Balance | 15,000 | $ 17,000 | |
Unpaid principal balance, delinquent 90 days or greater | 2,000 | ||
Unresolved Repurchase Claims, Face Amount | 652 | 1,400 | |
Subsidiaries | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | 111,000 | ||
Subsidiaries | Government-sponsored enterprises (“GSEs”) | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Estimated Unpaid Principal Balance | 1,000 | 2,000 | |
Subsidiaries | Government-sponsored enterprises (“GSEs”) | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | 11,000 | ||
Subsidiaries | Insured Securitizations | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Estimated Unpaid Principal Balance | 3,000 | 3,000 | |
Subsidiaries | Insured Securitizations | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | $ 20,000 | ||
Percent covered by bond insurance | 48.00% | ||
Original principal balance, sold to third party with repurchase requests | $ 16,000 | ||
Original principal balance, sold to third party without repurchase requests | 4,000 | ||
Subsidiaries | Uninsured Securitizations and Other | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Estimated Unpaid Principal Balance | 11,000 | $ 12,000 | |
Subsidiaries | Uninsured Securitizations and Other | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | 80,000 | ||
Subsidiaries | Uninsured Securitizations | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | 48,000 | ||
Subsidiaries | Private Investors | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | 22,000 | ||
Subsidiaries | Various Known and Unknown Investors | 2005 to 2008 Year | |||
Mortgage Loans on Real Estate, Sold to Third Party [Abstract] | |||
Original Principal Balance | $ 10,000 |
Commitments, Contingencies, 103
Commitments, Contingencies, Guarantees, and Others - Schedule of Changes in Representation and Warranty Reserve (Details) - Subsidiaries - Representation and Warranty Liability [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Loss Contingency Accrual [Roll Forward] | ||||
Representation and warranty repurchase reserve, beginning of period | $ 516 | $ 613 | $ 630 | $ 610 |
Provision (benefit) for mortgage representation and warranty losses | 6 | 1 | (86) | 3 |
Net realized losses | (1) | 0 | (23) | 1 |
Representation and warranty repurchase reserve, end of period | 521 | 614 | 521 | 614 |
Continuing Operations | ||||
Loss Contingency Accrual [Roll Forward] | ||||
Provision (benefit) for mortgage representation and warranty losses | 0 | (1) | (25) | (2) |
Discontinued Operations | ||||
Loss Contingency Accrual [Roll Forward] | ||||
Provision (benefit) for mortgage representation and warranty losses | $ 6 | $ 2 | $ (61) | $ 5 |
Commitments, Contingencies, 104
Commitments, Contingencies, Guarantees, and Others - Schedule of Allocation of Representation and Warranty Reserve (Details) $ in Millions | 49 Months Ended | ||||||
Feb. 28, 2009Subsidiary | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Loss Contingencies [Line Items] | |||||||
Number of subsidiaries acquired that originated residential mortgage loans | Subsidiary | 3 | ||||||
Subsidiaries | Representation and Warranty Liability [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss Contingency Accrual | $ 521 | $ 516 | $ 630 | $ 614 | $ 613 | $ 610 | |
Loss Contingency, Range of Possible Loss, Portion Not Accrued | 1,300 | $ 1,500 | |||||
Subsidiaries | 2005 to 2008 Year | |||||||
Loss Contingencies [Line Items] | |||||||
Loans sold 2005 to 2008 | 111,000 | ||||||
Subsidiaries | 2005 to 2008 Year | Government-sponsored enterprises (“GSEs”) | |||||||
Loss Contingencies [Line Items] | |||||||
Loans sold 2005 to 2008 | 11,000 | ||||||
Subsidiaries | 2005 to 2008 Year | Insured Securitizations | |||||||
Loss Contingencies [Line Items] | |||||||
Loans sold 2005 to 2008 | 20,000 | ||||||
Original principal balance, sold to third party with repurchase requests | 16,000 | ||||||
Original principal balance, sold to third party without repurchase requests | 4,000 | ||||||
Subsidiaries | 2005 to 2008 Year | Uninsured Securitizations | |||||||
Loss Contingencies [Line Items] | |||||||
Loans sold 2005 to 2008 | 48,000 | ||||||
Subsidiaries | 2005 to 2008 Year | Private Investors | |||||||
Loss Contingencies [Line Items] | |||||||
Loans sold 2005 to 2008 | $ 22,000 |
Commitments, Contingencies, 105
Commitments, Contingencies, Guarantees, and Others - Litigation (Details) $ in Millions | 1 Months Ended | 3 Months Ended | ||
Jul. 31, 2012USD ($) | Feb. 28, 2009USD ($)ContractMortgageLoan | Jul. 31, 2012USD ($)trustsummon | Jun. 30, 2017USD ($) | |
Loss Contingencies [Line Items] | ||||
Loss contingency, estimate of possible loss | $ 200 | |||
Pending Litigation | Interchange Litigation | ||||
Loss Contingencies [Line Items] | ||||
Litigation settlement, attributable to reporting entity and third party | $ 6,600 | |||
Litigation settlement, attributable to reporting entity and third party, percent of transactions | 0.10% | |||
Litigation settlement, attributable to reporting entity and third party, period of payment of settlement | 8 months | |||
GreenPoint Subsidiary | Pending Litigation | U.S. Bank Litigation | ||||
Loss Contingencies [Line Items] | ||||
Number of contracts breached | Contract | 2 | |||
Number of mortgage loans sold to third party under litigation | MortgageLoan | 30,000 | |||
Mortgage loans sold to third party, face amount under litigation | $ 1,800 | |||
GreenPoint Subsidiary | Pending Litigation | FHFA Litigation | ||||
Loss Contingencies [Line Items] | ||||
Mortgage loans sold to third party, face amount under litigation | $ 3,400 | $ 3,400 | ||
Number of summons filed | summon | 3 | |||
Number of residential mortgage backed securities trusts | trust | 3 |