Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 486,434,139 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest income: | ||
Loans, including loans held for sale | $ 6,134 | $ 5,626 |
Investment securities | 452 | 416 |
Other Interest and Dividend Income | 51 | 28 |
Total interest income | 6,637 | 6,070 |
Interest expense: | ||
Interest Expense, Deposits | 539 | 353 |
Interest Expense, Securitized debt obligations | 107 | 69 |
Senior and subordinated notes | 251 | 149 |
Other borrowings | 22 | 25 |
Total interest expense | 919 | 596 |
Net interest income | 5,718 | 5,474 |
Provision for loan, lease and other losses | 1,674 | 1,992 |
Net interest income after provision for credit losses | 4,044 | 3,482 |
Interchange Fees, Net | 643 | 570 |
Non-interest income: | ||
Service charges and other customer-related fees | 432 | 371 |
Gain (Loss) on Sale of Securities, Net | 8 | 0 |
Other | 108 | 120 |
Total non-interest income | 1,191 | 1,061 |
Non-interest expense: | ||
Salaries and associate benefits | 1,520 | 1,471 |
Occupancy and equipment | 490 | 471 |
Marketing | 414 | 396 |
Professional services | 210 | 247 |
Communications and data processing | 306 | 288 |
Amortization of intangibles | 44 | 62 |
Other | 589 | 499 |
Total non-interest expense | 3,573 | 3,434 |
Income from continuing operations before income taxes | 1,662 | 1,109 |
Income tax provision | 319 | 314 |
Income from continuing operations, net of tax | 1,343 | 795 |
Income from discontinued operations, net of tax | 3 | 15 |
Net income | 1,346 | 810 |
Dividends and undistributed earnings allocated to participating securities | (10) | (5) |
Preferred stock dividends | (52) | (53) |
Net income available to common stockholders | $ 1,284 | $ 752 |
Basic earnings per common share: | ||
Net income from continuing operations (in dollars per share) | $ 2.63 | $ 1.53 |
Income (loss) from discontinued operations (in dollars per share) | 0.01 | 0.03 |
Net income per basic common share (in dollars per share) | 2.64 | 1.56 |
Diluted earnings per common share: | ||
Net income from continuing operations (in dollars per share) | 2.61 | 1.51 |
Income (loss) from discontinued operations (in dollars per share) | 0.01 | 0.03 |
Net income per diluted common share (in dollars per share) | 2.62 | 1.54 |
Dividends paid per common share (in dollars per share) | $ 0.4 | $ 0.4 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 1,346 | $ 810 |
After Tax | ||
Net unrealized gains (losses) on securities available for sale | (585) | 36 |
Net changes in securities held to maturity | 425 | 23 |
Net unrealized losses on cash flow hedges | (318) | (66) |
Foreign currency translation adjustments | 7 | 17 |
Other | (1) | 5 |
Other comprehensive income (loss), net of tax | (472) | 15 |
Comprehensive income | $ 874 | $ 825 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 4,220 | $ 4,458 |
Interest-bearing deposits and other short-term investments | 9,788 | 9,582 |
Total cash and cash equivalents | 14,008 | 14,040 |
Restricted cash for securitization investors | 309 | 312 |
Securities available for sale | 47,155 | 37,655 |
Securities held to maturity | 23,075 | 28,984 |
Total investments securities | 70,230 | 66,639 |
Loans held for investment: | ||
Total loans held for investment | 248,256 | 254,473 |
Allowance for loan and lease losses | (7,567) | (7,502) |
Net loans held for investment | 240,689 | 246,971 |
Loans held for sale, at lower of cost or fair value | 1,498 | 971 |
Premises and equipment, net | 4,055 | 4,033 |
Interest receivable | 1,496 | 1,536 |
Goodwill | 14,536 | 14,533 |
Other assets | 16,036 | 16,658 |
Total assets | 362,857 | 365,693 |
Liabilities: | ||
Interest payable | 353 | 413 |
Deposits: | ||
Non-interest-bearing deposits | 26,176 | 26,404 |
Interest-bearing deposits | 224,671 | 217,298 |
Total deposits | 250,847 | 243,702 |
Securitized debt obligations | 18,665 | 20,010 |
Other debt: | ||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 656 | 576 |
Senior and subordinated notes | 31,051 | 30,755 |
Other borrowings | 321 | 8,940 |
Total other debt | 32,028 | 40,271 |
Other liabilities | 11,761 | 12,567 |
Total liabilities | 313,654 | 316,963 |
Stockholders’ equity: | ||
Preferred stock (par value $.01 per share; 50,000,000 shares authorized; 4,475,000 shares issued and outstanding as of both March 31, 2018 and December 31, 2017) | 0 | 0 |
Common stock (par value $.01 per share; 1,000,000,000 shares authorized; 664,876,051 and 661,724,927 shares issued as of March 31, 2018 and December 31, 2017, respectively, 485,879,230 and 485,525,340 shares outstanding as of March 31, 2018 and December 31, 2017, respectively) | 7 | 7 |
Additional paid-in capital, net | 31,779 | 31,656 |
Retained earnings | 31,996 | 30,700 |
Accumulated other comprehensive loss | (1,599) | (926) |
Treasury stock, at cost (par value $.01 per share; 178,996,821 and 176,199,587 shares as of March 31, 2018 and December 31, 2017, respectively) | (12,980) | (12,707) |
Total stockholders’ equity | 49,203 | 48,730 |
Total liabilities and stockholders’ equity | 362,857 | 365,693 |
Unsecuritized loans held for investment | ||
Loans held for investment: | ||
Total loans held for investment | 213,313 | 218,806 |
Loans held in consolidated trusts | ||
Loans held for investment: | ||
Total loans held for investment | $ 34,943 | $ 35,667 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 664,876,051 | 661,724,927 |
Common stock, shares outstanding | 485,879,230 | 485,525,340 |
Treasury stock, par value | $ 0.01 | $ 0.01 |
Treasury stock, common, shares | 178,996,821 | 176,199,587 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 3 months ended Mar. 31, 2018 - 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, 2017 | $ 48,730 | $ 0 | $ 7 | $ 31,656 | $ 30,700 | $ (926) | $ (12,707) |
Beginning balance (shares) at Dec. 31, 2017 | 4,475,000 | 661,724,927 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (201) | 201 | (201) | ||||
Cumulative effects from adoption of new accounting standards | 0 | ||||||
Comprehensive income (loss) | 874 | 1,346 | (472) | ||||
Common Stock Dividends, Shares | 22,467 | ||||||
Dividends, Common Stock | (197) | $ 0 | (199) | ||||
Dividends, Share-based Compensation, Stock | 2 | ||||||
Cash dividends - preferred series | (52) | (52) | |||||
Purchases of treasury stock | (273) | (273) | |||||
Issuances of common stock and restricted stock, shares, net of forfeitures | 2,452,786 | ||||||
Issuances of common stock and restricted stock, value, net of forfeitures | 49 | $ 0 | 49 | ||||
Exercise of stock options and warrants, tax effects of exercises and restricted stock vesting, shares | 675,871 | ||||||
Exercise of stock options and warrants, tax effects of exercises and restricted stock vesting, value | 14 | $ 0 | 14 | ||||
Compensation expense for restricted stock awards, restricted stock units and stock options | 58 | 58 | |||||
Ending balance at Mar. 31, 2018 | $ 49,203 | $ 0 | $ 7 | $ 31,779 | $ 31,996 | $ (1,599) | $ (12,980) |
Ending balance (shares) at Mar. 31, 2018 | 4,475,000 | 664,876,051 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating activities: | ||
Income from continuing operations, net of tax | $ 1,343 | $ 795 |
Income from discontinued operations, net of tax | 3 | 15 |
Net income | 1,346 | 810 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan, lease and other losses | 1,674 | 1,992 |
Depreciation and amortization, net | 550 | 566 |
Deferred tax benefit | 40 | (137) |
Net (gains) losses on sales of securities available for sale | (8) | 0 |
Gain on sales of loans held for sale | (27) | (10) |
Stock-based compensation expense | 67 | 77 |
Loans held for sale: | ||
Originations and purchases | (1,916) | (1,931) |
Proceeds from sales and paydowns | 1,273 | 2,250 |
Changes in operating assets and liabilities: | ||
Changes in interest receivable | 40 | (17) |
Changes in other assets | 267 | 1,091 |
Changes in interest payable | (60) | (67) |
Changes in other liabilities | (1,639) | (1,450) |
Net change from discontinued operations | 0 | (11) |
Net cash from operating activities | 1,607 | 3,163 |
Securities available for sale: | ||
Purchases | (3,838) | (5,246) |
Proceeds from paydowns and maturities | 1,819 | 1,832 |
Proceeds from sales | 1,058 | 2,888 |
Securities held to maturity: | ||
Purchases | (3,239) | (1,047) |
Proceeds from paydowns and maturities | 541 | 586 |
Loans: | ||
Net changes in loans held for investment | 3,989 | 2,910 |
Principal recoveries of loans previously charged off | 658 | 481 |
Net purchases of premises and equipment | (205) | (222) |
Net cash from other investing activities | (101) | (104) |
Net cash from investing activities | 682 | 2,078 |
Financing activities: | ||
Changes in deposits | 7,290 | 4,407 |
Proceeds from Issuance of Secured Debt | 0 | 2,992 |
Maturities and paydowns of securitized debt obligations | (1,250) | (3,283) |
Issuance of senior and subordinated notes and long-term FHLB advances | 3,234 | 3,984 |
Maturities and paydowns of senior and subordinated notes and long-term FHLB advances | (11,206) | (15,727) |
Changes in other borrowings | 67 | 54 |
Common stock: | ||
Net proceeds from issuances | 49 | 41 |
Dividends paid | (197) | (195) |
Preferred stock: | ||
Dividends paid | (52) | (53) |
Purchases of treasury stock | (273) | (218) |
Proceeds from share-based payment activities | 14 | 65 |
Net cash from financing activities | (2,324) | (7,933) |
Changes in cash, cash equivalents and restricted cash for securitization investors | (35) | (2,692) |
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period | 14,352 | 12,493 |
Cash, cash equivalents and restricted cash for securitization investors, end of the period | 14,317 | 9,801 |
Non-cash items: | ||
Net transfers from loans held for investment to loans held for sale | 177 | 140 |
Interest paid | 936 | 702 |
Income tax paid | $ 53 | $ 34 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 , 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 and Revenue from Contracts with Customers .” Basis of Presentation and Use of Estimates The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The preparation of the consolidated 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. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements, and related notes thereto, included in Capital One Financial Corporation’s 2017 Annual Report on Form 10-K (“2017 Form 10-K”). Newly Adopted Accounting Standards Accounting Implications of the Tax Cuts and Jobs Act In March 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 . This ASU codifies into existing U.S. GAAP the SEC Staff views expressed in Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act . This guidance addresses situations where an entity’s accounting for the income tax effects of the Tax Act is incomplete upon issuance of the entity’s financial statements for the reporting period in which the Tax Act was enacted. In accordance with this guidance, we included certain provisional amounts for these effects in our consolidated financial statements as of and for the year ended December 31, 2017. See “MD&A—Accounting Changes and Developments” in our 2017 Form 10-K for more information. We continue to assess information relating to such provisional amounts including regulatory guidance, repatriation tax impacts to other jurisdictions, and other information. We expect to finalize our assessment and record any required adjustments to provisional amounts by December 2018. In the first quarter of 2018, we did not have any significant measurement period adjustments. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. U.S. GAAP requires the effects of changes in tax rates and laws on deferred tax balances to be recorded in income tax from continuing operations in the period of enactment. This requirement applies even in situations in which the related income tax effects of items in accumulated other comprehensive income (“AOCI”) were originally recognized in other comprehensive income (rather than in income from continuing operations), which results in certain tax effects being stranded in AOCI. This ASU allows a one-time reclassification from AOCI to retained earnings for stranded tax effects resulting from the Tax Act. Additionally, this ASU requires entities to disclose their accounting policy for releasing stranded tax effects from AOCI, for which ours is to release the effects using a portfolio approach. This ASU provides entities the option to apply the guidance retrospectively or in the period of adoption. We early adopted this ASU in the first quarter of 2018, resulting in a decrease to AOCI and an increase to retained earnings of $173 million . Our reclassification included the effects of the reduction in the federal corporate income tax rate enacted by the Tax Act and the resulting impacts on the federal benefit of deducting state income taxes. Targeted Improvements to Accounting for Hedging Activities In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . This ASU amends hedge accounting guidance to better align hedge accounting with risk management activities, while reducing the complexity of applying and reporting on hedge accounting. Under this ASU, the concept of separately measuring and reporting hedge ineffectiveness has been eliminated and entities are required to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. In addition, for a closed pool of pre-payable financial assets, entities will be able to hedge an amount that is not expected to be affected by prepayments, defaults and other events under the “last-of-layer” method. The guidance permits a one-time reclassification of debt securities eligible to be hedged under the “last-of-layer” method from held to maturity to available for sale upon adoption. We early adopted this ASU in the first quarter of 2018 under the prescribed modified retrospective transition method. As permitted by this ASU, and in order to optimize the investment portfolio management for capital and risk management considerations, we made a one-time election to transfer $9.0 billion of held to maturity securities eligible to be hedged under the “last-of-layer” method to the available for sale category, resulting in an increase to AOCI of $107 million . See “ Note 3—Investment Securities ” and “ Note 9—Derivative Instruments and Hedging Activities ” for additional information on the impacts of the transfer, as well as the disclosures required under the new guidance. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU clarifies certain issues related to classification within the statement of cash flows with the objective of reducing existing diversity in practice. We adopted this ASU in the first quarter of 2018 under the retrospective transition method and our adoption did not have a material impact to our consolidated financial statements. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The primary impact of this ASU to us is the requirement to measure equity investments at fair value with changes in fair value 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 measurement alternative can be elected). We adopted this ASU in the first quarter of 2018 under the modified retrospective method and our adoption did not have a material impact on our consolidated financial statements. Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . Topic 606 was 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. Topic 606, as amended, is applicable to all entities and replaced significant portions of existing industry and transaction-specific revenue recognition rules with a more principles-based recognition model. Entities were given an option to apply either a full or modified retrospective method of adoption. 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. We determined interchange fees earned on credit and debit card transactions, net of any related customer rewards, are in the scope of the amended guidance. We assessed the impact of the new guidance by evaluating our contracts, identifying our performance obligations, determining when the performance obligations were satisfied to allow us to recognize revenue and determining the amount of revenue to recognize. As a result of this analysis, we determined our recognition, measurement and presentation of interchange fees net of customer rewards costs will not change. We adopted this guidance in the first quarter of 2018 under the modified retrospective transition method and our adoption did not have a material impact to our consolidated financial statements. See “ Note 13—Business Segments and Revenue from Contracts with Customers ” for the new disclosures required under this guidance. Recently Issued but Not Yet Adopted Accounting Standards Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This ASU shortens 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, using the modified retrospective method of adoption. We plan to adopt the standard on its effective date. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The guidance in this ASU 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, the first step compares a reporting unit’s carrying value to its fair value. If the carrying value exceeds fair value, an entity performs the second step, which assigns the reporting unit’s fair value to its assets and liabilities, including unrecognized assets and liabilities, in the same manner as required in purchase accounting. Under the new guidance, any impairment of 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 guidance is effective for us on January 1, 2020, with early adoption permitted, using the prospective method of adoption. We are currently evaluating the overall impact of early adopting this ASU. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU 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, net investments in leases that are not accounted for at fair value through net income and certain off-balance sheet arrangements. The CECL model will replace our current accounting for purchased credit-impaired (“PCI”) and impaired loans. This ASU 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 is effective for us on January 1, 2020, with early adoption permitted no earlier than January 1, 2019, using the modified retrospective method of adoption. We plan to adopt the standard on its effective date. We have established a company-wide, cross-functional governance structure for our implementation of this standard. We are in the process of determining key accounting interpretations, data requirements and necessary changes to our credit loss estimation methods, processes and systems. We continue to assess the potential impact on our consolidated financial statements and related disclosures. Due to the significant differences in the revised guidance from existing U.S. GAAP, the implementation of this guidance may result in increases to our reserves for credit losses on financial instruments. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU requires lessees to recognize right of use assets and lease liabilities on their consolidated balance sheets and disclose key information about all their leasing arrangements, with certain practical expedients. This guidance is effective for us on January 1, 2019, with early adoption permitted, using the modified retrospective method of adoption. We plan to adopt the standard on the effective date. We are currently in the process of reviewing lease contracts, implementing a new lease accounting and administration software solution, establishing new processes and internal controls and evaluating the impact of various accounting policy elections. Upon adoption, we expect to record a right of use asset and a corresponding lease liability for our operating leases where we are the lessee. The potential impact on our consolidated financial statements is largely based on the present value of future minimum lease payments, the amount of which will depend upon the population of leases in effect at the date of adoption. Future minimum lease payments totaled $2.7 billion as of December 31, 2017, as disclosed in “Note 8—Premises, Equipment and Lease Commitments” of our 2017 Form 10-K. We do not expect material changes to the recognition of operating lease expense in our consolidated statements of income. |
Business Developments and Disco
Business Developments and Discontinued Operations | 3 Months Ended |
Mar. 31, 2018 | |
Mergers, Acquisitions, Restructuring and Dispositions Disclosures [Abstract] | |
Business Developments and Discontinued Operations | NOTE 2—BUSINESS DEVELOPMENTS AND DISCONTINUED OPERATIONS Business Developments Restructuring Activities We periodically initiate restructuring activities to support business strategies and enhance our overall operational efficiency. These restructuring activities have primarily consisted of exiting certain business locations and activities as well as the realignment of resources supporting various businesses, including the decisions within our Consumer Banking business to sell our online retail brokerage business in the first quarter of 2018 and to cease new originations of home loan lending products in the fourth quarter of 2017. The charges incurred as a result of these restructuring activities have primarily consisted of severance and related benefits pursuant to our ongoing benefit programs, which are included in salaries and associate benefits within non-interest expense in our consolidated statements of income, as well as impairment of certain assets related to business locations and activities being exited, which are generally included in occupancy and equipment within non-interest expense. For the three months ended March 31, 2018 , we recognized restructuring charges of $19 million , which are reflected in the Other category of our business segment results. We had a liability of $69 million associated with restructuring activities, which is recorded in other liabilities on our consolidated balance sheets as of March 31, 2018 . There were no significant restructuring charges incurred for the three months ended March 31, 2017. As of March 31, 2018 , our online retail brokerage business had liabilities held for sale primarily consisting of customer deposits of $1.6 billion . When the transaction closes, we will transfer these customer deposits and an equal cash amount to the third-party purchaser. 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. For the three months ended March 31, 2018 and 2017 , income from discontinued operations, net of tax, was $3 million and $15 million , respectively. As of March 31, 2018 , we had no significant continuing involvement in the operations of our wholesale mortgage banking unit. In the fourth quarter of 2017, we entered into an agreement with the third-party servicer under which we assumed the mandatory obligation to exercise the remaining clean-up calls as they become due on certain manufactured housing securitization transactions. See “ Note 6—Variable Interest Entities and Securitizations ” and “ Note 14—Commitments, Contingencies, Guarantees and Others ” for information associated with GreenPoint Credit, LLC manufactured housing operations and our mortgage representation and warranty exposure. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | NOTE 3—INVESTMENT SECURITIES Our investment securities 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 commercial mortgage-backed securities (“CMBS”); other asset-backed securities (“ABS”); and other securities. Agency securities include Government National Mortgage Association (“Ginnie Mae”) guaranteed securities, Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) issued securities. The carrying value of our investments in U.S. Treasury and Agency securities represented 95% of our total investment securities as of both March 31, 2018 and December 31, 2017 . In the first quarter of 2018, we made a one-time transfer of held to maturity securities with a carrying value of $9.0 billion to available for sale as a result of our adoption of ASU No. 2017-12. See “ Note 1—Summary of Significant Accounting Policies ” and “ Note 10—Stockholders’ Equity ” for more information. The table below presents an overview of our investment securities portfolio as of March 31, 2018 and December 31, 2017 . Table 3.1 : Overview of Investment Securities Portfolio (Dollars in millions) March 31, 2018 December 31, 2017 Securities available for sale, at fair value $ 47,155 $ 37,655 Securities held to maturity, at carrying value 23,075 28,984 Total investment securities $ 70,230 $ 66,639 The table below presents the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of March 31, 2018 and December 31, 2017 . Table 3.2 : Investment Securities Available for Sale March 31, 2018 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,246 $ 24 $ (19 ) $ 5,251 RMBS: Agency 34,770 47 (1,076 ) 33,741 Non-agency 1,648 379 (1 ) 2,026 Total RMBS 36,418 426 (1,077 ) 35,767 Agency CMBS 4,553 6 (99 ) 4,460 Other ABS 332 0 (2 ) 330 Other securities (2) 1,350 4 (7 ) 1,347 Total investment securities available for sale $ 47,899 $ 460 $ (1,204 ) $ 47,155 December 31, 2017 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,168 $ 11 $ (8 ) $ 5,171 RMBS: Agency 26,013 67 (402 ) 25,678 Non-agency 1,722 393 (1 ) 2,114 Total RMBS 27,735 460 (403 ) 27,792 Agency CMBS 3,209 10 (44 ) 3,175 Other ABS 513 0 (1 ) 512 Other securities (2) 1,003 4 (2 ) 1,005 Total investment securities available for sale $ 37,628 $ 485 $ (458 ) $ 37,655 __________ (1) Includes non-credit-related OTTI that is recorded in AOCI of $1 million as of both March 31, 2018 and December 31, 2017 . Substantially all of this amount is related to non-agency RMBS. (2) Includes supranational bonds and foreign government bonds. In 2017, other securities also included mutual funds and other 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 March 31, 2018 and December 31, 2017 . Table 3.3 : Investment Securities Held to Maturity March 31, 2018 (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 $ 200 $ 0 $ 200 $ 0 $ 0 $ 200 Agency RMBS 20,203 (266 ) 19,937 219 (384 ) 19,772 Agency CMBS 2,952 (14 ) 2,938 9 (78 ) 2,869 Total investment securities held to maturity $ 23,355 $ (280 ) $ 23,075 $ 228 $ (462 ) $ 22,841 December 31, 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 $ 200 $ 0 $ 200 $ 0 $ 0 $ 200 Agency RMBS 25,741 (761 ) 24,980 565 (150 ) 25,395 Agency CMBS 3,882 (78 ) 3,804 70 (32 ) 3,842 Total investment securities held to maturity $ 29,823 $ (839 ) $ 28,984 $ 635 $ (182 ) $ 29,437 __________ (1) In the first quarter of 2018, we made a one-time transfer of held to maturity securities with a carrying value of $9.0 billion to available for sale as a result of our adoption of ASU No. 2017-12. These securities had $535 million pre-tax ( $407 million after-tax) of unrealized losses in AOCI prior to the transfer. See “ Note 10—Stockholders’ Equity ” for more information. 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 March 31, 2018 and December 31, 2017 . Table 3.4 : Securities in a Gross Unrealized Loss Position March 31, 2018 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 $ 2,456 $ (19 ) $ 0 $ 0 $ 2,456 $ (19 ) RMBS: Agency 18,430 (590 ) 12,028 (486 ) 30,458 (1,076 ) Non-agency 10 0 10 (1 ) 20 (1 ) Total RMBS 18,440 (590 ) 12,038 (487 ) 30,478 (1,077 ) Agency CMBS 2,462 (50 ) 1,179 (49 ) 3,641 (99 ) Other ABS 129 (1 ) 87 (1 ) 216 (2 ) Other securities 816 (7 ) 0 0 816 (7 ) Total investment securities available for sale in a gross unrealized loss position $ 24,303 $ (667 ) $ 13,304 $ (537 ) $ 37,607 $ (1,204 ) December 31, 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 $ 2,031 $ (8 ) $ 0 $ 0 $ 2,031 $ (8 ) RMBS: Agency 8,192 (67 ) 13,175 (335 ) 21,367 (402 ) Non-agency 10 0 10 (1 ) 20 (1 ) Total RMBS 8,202 (67 ) 13,185 (336 ) 21,387 (403 ) Agency CMBS 880 (8 ) 1,236 (36 ) 2,116 (44 ) Other ABS 130 0 95 (1 ) 225 (1 ) Other securities 371 (2 ) 0 0 371 (2 ) Total investment securities available for sale in a gross unrealized loss position $ 11,614 $ (85 ) $ 14,516 $ (373 ) $ 26,130 $ (458 ) As of March 31, 2018 , the amortized cost of approximately 1,320 securities available for sale exceeded their fair value by $1.2 billion , of which $537 million related to securities that had been in a loss position for 12 months or longer. As of March 31, 2018 , the carrying value of approximately 340 securities classified as held to maturity exceeded their fair value by $462 million . Maturities and Yields of Investment Securities The table below summarizes, by major security type, the contractual maturities and weighted-average yields of our investment securities as of March 31, 2018 . 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 below. The weighted-average yield below represents the effective yield for the investment securities and is calculated based on the amortized cost of each security. Table 3.5 : Contractual Maturities and Weighted-Average Yields of Securities March 31, 2018 (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 $ 199 $ 1,226 $ 3,826 $ 0 $ 5,251 RMBS (1) : Agency 5 33 594 33,109 33,741 Non-agency 0 0 0 2,026 2,026 Total RMBS 5 33 594 35,135 35,767 Agency CMBS (1) 0 1,842 967 1,651 4,460 Other ABS (1) 0 301 0 29 330 Other securities 207 596 542 2 1,347 Total securities available for sale $ 411 $ 3,998 $ 5,929 $ 36,817 $ 47,155 Amortized cost of securities available for sale $ 412 $ 4,036 $ 5,932 $ 37,519 $ 47,899 Weighted-average yield for securities available for sale 1.05 % 2.04 % 1.88 % 2.80 % 2.61 % Carrying value of securities held to maturity: U.S. Treasury securities $ 200 $ 0 $ 0 $ 0 $ 200 Agency RMBS (1) 0 0 56 19,881 19,937 Agency CMBS (1) 0 0 289 2,649 2,938 Total securities held to maturity $ 200 $ 0 $ 345 $ 22,530 $ 23,075 Fair value of securities held to maturity $ 200 $ 0 $ 346 $ 22,295 $ 22,841 Weighted-average yield for securities held to maturity 1.11 % 0.00 % 3.06 % 3.05 % 3.04 % __________ (1) As of March 31, 2018 , weighted-average expected maturities of RMBS, CMBS and other ABS are 6.5 years , 5.6 years and 1.2 years , respectively. 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 March 31, 2018 , 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. 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 for the three months ended March 31, 2018 and 2017 . There were no OTTI losses recognized in earnings in the periods presented below. 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 3.6 : Realized Gains and Losses on Securities Three Months Ended March 31, (Dollars in millions) 2018 2017 Realized gains (losses): Gross realized gains $ 8 $ 5 Gross realized losses 0 (5 ) Net securities gains (losses) $ 8 $ 0 Total proceeds from sales $ 1,058 $ 2,888 The cumulative credit loss component of the OTTI losses that have been recognized in our consolidated statements of income related to the securities that we do not intend to sell was $145 million and $206 million for the three months ended March 31, 2018 and 2017 , respectively. Securities Pledged and Received As part of our liquidity management strategy, we pledge securities to secure borrowings from counterparties including 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 $4.4 billion and $2.8 billion as of March 31, 2018 and December 31, 2017 , respectively. We also pledged securities held to maturity with a carrying value of $4.8 billion and $5.7 billion as of March 31, 2018 and December 31, 2017 , respectively. We accepted pledges of securities with a fair value of $1 million as of both March 31, 2018 and December 31, 2017 , 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 March 31, 2018 and December 31, 2017 . Table 3.7 : Outstanding Balance and Carrying Value of Purchased Credit-Impaired Debt Securities (Dollars in millions) March 31, 2018 December 31, 2017 Outstanding balance $ 2,039 $ 2,131 Carrying value 1,772 1,843 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 months ended March 31, 2018 . Table 3.8 : Changes in the Accretable Yield of Purchased Credit-Impaired Debt Securities (Dollars in millions) Three Months Ended March 31, 2018 Accretable yield as of December 31, 2017 $ 826 Accretion recognized in earnings (39 ) Reduction due to payoffs, disposals, transfers and other (1 ) Net reclassifications from nonaccretable difference 8 Accretable yield as of March 31, 2018 $ 794 |
Loans
Loans | 3 Months Ended |
Mar. 31, 2018 | |
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 2017 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 credit metrics presented in this section exclude loans held for sale, which are carried at lower of cost or fair value. The table below presents the composition and an aging analysis of our loans held for investment portfolio as of March 31, 2018 and December 31, 2017 . The delinquency aging includes all past due loans, both performing and nonperforming. Table 4.1 : Loan Portfolio Composition and Aging Analysis March 31, 2018 (Dollars in millions) Current 30-59 Days 60-89 Days > 90 Days Total Delinquent Loans PCI Loans Total Loans Credit Card: Domestic credit card $ 95,014 $ 966 $ 740 $ 1,815 $ 3,521 $ 0 $ 98,535 International card businesses 8,699 129 79 134 342 0 9,041 Total credit card 103,713 1,095 819 1,949 3,863 0 107,576 Consumer Banking: Auto 51,763 2,088 764 196 3,048 0 54,811 Home loan 7,056 33 13 48 94 9,480 16,630 Retail banking 3,171 21 9 16 46 16 3,233 Total consumer banking 61,990 2,142 786 260 3,188 9,496 74,674 Commercial Banking: Commercial and multifamily real estate 27,311 5 0 20 25 24 27,360 Commercial and industrial 37,646 18 2 127 147 415 38,208 Total commercial lending 64,957 23 2 147 172 439 65,568 Small-ticket commercial real estate 380 1 0 4 5 0 385 Total commercial banking 65,337 24 2 151 177 439 65,953 Other loans 50 1 1 1 3 0 53 Total loans (1) $ 231,090 $ 3,262 $ 1,608 $ 2,361 $ 7,231 $ 9,935 $ 248,256 % of Total loans 93.09 % 1.31 % 0.65 % 0.95 % 2.91 % 4.00 % 100.00 % December 31, 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 $ 101,072 $ 1,211 $ 915 $ 2,093 $ 4,219 $ 2 $ 105,293 International card businesses 9,110 144 81 134 359 0 9,469 Total credit card 110,182 1,355 996 2,227 4,578 2 114,762 Consumer Banking: Auto 50,151 2,483 1,060 297 3,840 0 53,991 Home loan 7,235 37 16 70 123 10,275 17,633 Retail banking 3,389 24 5 18 47 18 3,454 Total consumer banking 60,775 2,544 1,081 385 4,010 10,293 75,078 Commercial Banking: Commercial and multifamily real estate 26,018 41 17 49 107 25 26,150 Commercial and industrial 37,412 1 70 87 158 455 38,025 Total commercial lending 63,430 42 87 136 265 480 64,175 Small-ticket commercial real estate 393 2 1 4 7 0 400 Total commercial banking 63,823 44 88 140 272 480 64,575 Other loans 54 2 1 1 4 0 58 Total loans (1) $ 234,834 $ 3,945 $ 2,166 $ 2,753 $ 8,864 $ 10,775 $ 254,473 % of Total loans 92.29 % 1.55 % 0.85 % 1.08 % 3.48 % 4.23 % 100.00 % __________ (1) Loans, other than PCI loans, include unamortized premiums and discounts, and unamortized deferred fees and costs totaling $796 million and $773 million as of March 31, 2018 and December 31, 2017 , respectively. We pledged loan collateral of $31.6 billion and $27.3 billion to secure the majority of our FHLB borrowing capacity of $23.6 billion and $21.0 billion as of March 31, 2018 and December 31, 2017 , 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 March 31, 2018 and December 31, 2017 . Nonperforming loans generally include loans that have been placed on nonaccrual status. PCI loans are excluded from the table below. See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for additional information on our policies for nonperforming loans and accounting for PCI loans. Table 4.2 : 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans March 31, 2018 December 31, 2017 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Credit Card: Domestic credit card $ 1,815 N/A $ 2,093 N/A International card businesses 129 $ 23 128 $ 24 Total credit card 1,944 23 2,221 24 Consumer Banking: Auto 0 275 0 376 Home loan 0 143 0 176 Retail banking 0 34 0 35 Total consumer banking 0 452 0 587 March 31, 2018 December 31, 2017 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Commercial Banking: Commercial and multifamily real estate $ 16 $ 4 $ 12 $ 38 Commercial and industrial 1 299 0 239 Total commercial lending 17 303 12 277 Small-ticket commercial real estate 0 6 0 7 Total commercial banking 17 309 12 284 Other loans 0 4 0 4 Total $ 1,961 $ 788 $ 2,233 $ 899 % of Total loans 0.79 % 0.32 % 0.88 % 0.35 % 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 March 31, 2018 and December 31, 2017 . Table 4.3 : Credit Card Risk Profile by Geographic Region March 31, 2018 December 31, 2017 (Dollars in millions) Amount % of Total Amount % of Total Domestic credit card: California $ 10,799 10.0 % $ 11,475 10.0 % Texas 7,453 6.9 7,847 6.8 New York 6,839 6.4 7,389 6.4 Florida 6,421 6.0 6,790 5.9 Illinois 4,399 4.1 4,734 4.1 Pennsylvania 4,207 3.9 4,550 4.0 Ohio 3,616 3.4 3,929 3.4 New Jersey 3,361 3.1 3,621 3.2 Michigan 3,260 3.0 3,523 3.1 Other 48,180 44.8 51,435 44.8 Total domestic credit card 98,535 91.6 105,293 91.7 International card businesses: Canada 5,815 5.4 6,286 5.5 United Kingdom 3,226 3.0 3,183 2.8 Total international card businesses 9,041 8.4 9,469 8.3 Total credit card $ 107,576 100.0 % $ 114,762 100.0 % The table below presents net charge-offs for the three months ended March 31, 2018 and 2017. Table 4.4 : Credit Card Net Charge-Offs Three Months Ended March 31, 2018 2017 (Dollars in millions) Amount Rate Amount Rate Net charge-offs: (1) Domestic credit card $ 1,321 5.26 % $ 1,196 5.14 % International card businesses 56 2.49 75 3.69 Total credit card $ 1,377 5.03 $ 1,271 5.02 __________ (1) Net charge-offs consist of the unpaid principal balance of loans held for investment that we determine to be uncollectible, net of recovered amounts. Net charge-off rate is calculated by dividing annualized net charge-offs by average loans held for investment for the period for each loan category. Net charge-offs and 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 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 March 31, 2018 and December 31, 2017 . Table 4.5 : Consumer Banking Risk Profile by Geographic Region March 31, 2018 December 31, 2017 (Dollars in millions) Amount % of Total Amount % of Total Auto: Texas $ 7,096 9.5 % $ 7,040 9.4 % California 6,195 8.3 6,099 8.1 Florida 4,566 6.1 4,486 6.0 Georgia 2,724 3.6 2,726 3.6 Ohio 2,378 3.2 2,318 3.1 Louisiana 2,221 3.0 2,236 3.0 Illinois 2,182 2.9 2,181 2.9 Other 27,449 36.8 26,905 35.8 Total auto 54,811 73.4 53,991 71.9 Home loan: California 3,458 4.7 3,734 5.0 New York 1,888 2.5 1,941 2.6 Maryland 1,170 1.6 1,226 1.6 Virginia 997 1.3 1,034 1.4 Illinois 927 1.2 976 1.3 New Jersey 881 1.2 931 1.2 Texas 845 1.1 882 1.2 Other 6,464 8.7 6,909 9.2 Total home loan 16,630 22.3 17,633 23.5 Retail banking: New York 931 1.3 955 1.3 Louisiana 921 1.2 953 1.3 Texas 699 0.9 717 0.9 New Jersey 209 0.3 221 0.3 Maryland 185 0.2 187 0.2 Virginia 150 0.2 154 0.2 Other 138 0.2 267 0.4 Total retail banking 3,233 4.3 3,454 4.6 Total consumer banking $ 74,674 100.0 % $ 75,078 100.0 % The tables below present net charge-offs in our consumer banking loan portfolio for the three months ended March 31, 2018 and 2017 , as well as nonperforming loans as of March 31, 2018 and December 31, 2017 . Table 4.6 : Consumer Banking Net Charge-Offs (Recoveries) and Nonperforming Loans Three Months Ended March 31, 2018 2017 (Dollars in millions) Amount Rate (1) Amount Rate (1) Net charge-offs (recoveries): Auto $ 208 1.53 % $ 199 1.64 % Home loan (2) (1 ) (0.03 ) 2 0.03 Retail banking 16 1.89 17 1.92 Total consumer banking (2) $ 223 1.19 $ 218 1.19 March 31, 2018 December 31, 2017 (Dollars in millions) Amount Rate (3) Amount Rate (3) Nonperforming loans: Auto $ 275 0.50 % $ 376 0.70 % Home loan (4) 143 0.86 176 1.00 Retail banking 34 1.04 35 1.00 Total consumer banking (4) $ 452 0.61 $ 587 0.78 __________ (1) Net charge-off (recovery) rate is calculated by dividing annualized net charge-offs (recoveries) by average loans held for investment for the period for each loan category . (2) Excluding the impact of PCI loans, the net recovery rate for our home loan portfolio was 0.09% and the net charge-off rate for our total consumer banking portfolio was 1.36% for the three months ended March 31, 2018 , compared to net charge-off rates for our home loan and total consumer banking portfolios of 0.08% and 1.46% , respectively, for the three months ended March 31, 2017 . (3) 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. (4) Excluding the impact of PCI loans, the nonperforming loan rates for our home loan and total consumer banking portfolios were 2.00% and 0.69% , respectively, as of March 31, 2018 , compared to 2.39% and 0.91% , respectively, as of December 31, 2017 . 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 concentration, 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 March 31, 2018 and December 31, 2017 based on selected key risk characteristics. Table 4.7 : Home Loan Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type March 31, 2018 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total Amount % of Total Amount % of Total Origination year: (2) < 2009 $ 1,517 9.1 % $ 7,080 42.6 % $ 8,597 51.7 % 2010 61 0.4 994 6.0 1,055 6.4 2011 106 0.6 1,094 6.6 1,200 7.2 2012 629 3.8 168 1.0 797 4.8 2013 360 2.2 41 0.2 401 2.4 2014 448 2.7 24 0.1 472 2.8 2015 882 5.3 28 0.2 910 5.5 2016 1,568 9.4 22 0.1 1,590 9.5 2017 1,570 9.4 29 0.2 1,599 9.6 2018 9 0.1 0 0.0 9 0.1 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % Geographic concentration: California $ 968 5.8 % $ 2,490 15.0 % $ 3,458 20.8 % New York 1,408 8.5 480 2.9 1,888 11.4 Maryland 590 3.5 580 3.5 1,170 7.0 Virginia 524 3.2 473 2.8 997 6.0 Illinois 162 1.0 765 4.6 927 5.6 New Jersey 375 2.3 506 3.0 881 5.3 Texas 781 4.7 64 0.4 845 5.1 Louisiana 770 4.6 15 0.1 785 4.7 Florida 186 1.1 536 3.2 722 4.3 Arizona 88 0.5 529 3.2 617 3.7 Other 1,298 7.8 3,042 18.3 4,340 26.1 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % Lien type: 1 st lien $ 6,199 37.3 % $ 9,265 55.7 % $ 15,464 93.0 % 2 nd lien 951 5.7 215 1.3 1,166 7.0 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % Interest rate type: Fixed rate $ 3,688 22.2 % $ 1,405 8.4 % $ 5,093 30.6 % Adjustable rate 3,462 20.8 8,075 48.6 11,537 69.4 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % December 31, 2017 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total Amount % of Total Amount % of Total Origination year: (2) < 2009 $ 1,648 9.4 % $ 7,688 43.6 % $ 9,336 53.0 % 2010 64 0.4 1,078 6.1 1,142 6.5 2011 113 0.6 1,181 6.7 1,294 7.3 2012 673 3.8 178 1.0 851 4.8 2013 381 2.2 46 0.3 427 2.5 2014 467 2.6 25 0.1 492 2.7 2015 905 5.1 28 0.2 933 5.3 2016 1,604 9.1 23 0.1 1,627 9.2 2017 1,503 8.5 28 0.2 1,531 8.7 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % Geographic concentration: California $ 987 5.6 % $ 2,747 15.6 % $ 3,734 21.2 % New York 1,427 8.1 514 2.9 1,941 11.0 Maryland 608 3.4 618 3.5 1,226 6.9 Virginia 532 3.0 502 2.8 1,034 5.8 Illinois 163 0.9 813 4.6 976 5.5 New Jersey 389 2.2 542 3.1 931 5.3 Texas 811 4.6 71 0.4 882 5.0 Louisiana 826 4.7 17 0.1 843 4.8 Florida 186 1.1 582 3.3 768 4.4 Arizona 91 0.5 577 3.3 668 3.8 Other 1,338 7.6 3,292 18.7 4,630 26.3 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % Lien type: 1 st lien $ 6,364 36.1 % $ 10,054 57.0 % $ 16,418 93.1 % 2 nd lien 994 5.6 221 1.3 1,215 6.9 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % Interest rate type: Fixed rate $ 3,722 21.1 % $ 1,505 8.5 % $ 5,227 29.6 % Adjustable rate 3,636 20.6 8,770 49.8 12,406 70.4 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % __________ (1) PCI loan balances with an origination date in the years subsequent to 2012 represent refinancing of previously acquired home loans. (2) Modified loans are reported in the origination year of the initial borrowing. Our recorded investment in home loans that are in process of foreclosure was $94 million and $149 million as of March 31, 2018 and December 31, 2017 , 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 March 31, 2018 and December 31, 2017 , the carrying value of the foreclosed residential real estate properties we hold and include in other assets on our consolidated balance sheets totaled $28 million and $39 million , respectively. Commercial Banking We evaluate the credit risk of commercial loans using a 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 of $1 million or more 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 concentration and internal risk ratings of our commercial loan portfolio as of March 31, 2018 and December 31, 2017 . Table 4.8 : Commercial Banking Risk Profile by Geographic Region and Internal Risk Rating March 31, 2018 (Dollars in millions) Commercial and Multifamily Real Estate % of Total Commercial and Industrial % of Total Small-Ticket Commercial Real Estate % of Total Total Commercial Banking % of Total Geographic concentration: (1) Northeast $ 16,105 58.9 % $ 7,765 20.3 % $ 240 62.3 % $ 24,110 36.6 % Mid-Atlantic 2,981 10.9 4,017 10.5 14 3.6 7,012 10.6 South 3,842 14.0 14,559 38.1 21 5.5 18,422 27.9 Other 4,432 16.2 11,867 31.1 110 28.6 16,409 24.9 Total $ 27,360 100.0 % $ 38,208 100.0 % $ 385 100.0 % $ 65,953 100.0 % Internal risk rating: (2) Noncriticized $ 26,807 98.0 % $ 35,588 93.1 % $ 378 98.1 % $ 62,773 95.1 % Criticized performing 525 1.9 1,906 5.0 1 0.3 2,432 3.7 Criticized nonperforming 4 0.0 299 0.8 6 1.6 309 0.5 PCI loans 24 0.1 415 1.1 0 0.0 439 0.7 Total $ 27,360 100.0 % $ 38,208 100.0 % $ 385 100.0 % $ 65,953 100.0 % December 31, 2017 (Dollars in millions) Commercial and Multifamily Real Estate % of Total Commercial and Industrial % of Total Small-Ticket Commercial Real Estate % of Total Total Commercial Banking % of Total Geographic concentration: (1) Northeast $ 14,969 57.3 % $ 7,774 20.4 % $ 250 62.4 % $ 22,993 35.7 % Mid-Atlantic 2,675 10.2 3,922 10.3 15 3.8 6,612 10.2 South 3,719 14.2 14,739 38.8 22 5.5 18,480 28.6 Other 4,787 18.3 11,590 30.5 113 28.3 16,490 25.5 Total $ 26,150 100.0 % $ 38,025 100.0 % $ 400 100.0 % $ 64,575 100.0 % Internal risk rating: (2) Noncriticized $ 25,609 98.0 % $ 35,161 92.5 % $ 392 97.9 % $ 61,162 94.7 % Criticized performing 478 1.8 2,170 5.7 1 0.3 2,649 4.1 Criticized nonperforming 38 0.1 239 0.6 7 1.8 284 0.4 PCI loans 25 0.1 455 1.2 0 0.0 480 0.8 Total $ 26,150 100.0 % $ 38,025 100.0 % $ 400 100.0 % $ 64,575 100.0 % __________ (1) 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. (2) Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities. Impaired Loans The following table presents information on our impaired loans as of March 31, 2018 and December 31, 2017 , and for the three months ended March 31, 2018 and 2017 . 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. PCI loans are excluded from the following tables. Table 4.9 : Impaired Loans March 31, 2018 (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 $ 652 $ 0 $ 652 $ 212 $ 440 $ 638 International card businesses 184 0 184 90 94 179 Total credit card (1) 836 0 836 302 534 817 Consumer Banking: Auto (2) 350 82 432 34 398 625 Home loan 195 30 225 13 212 277 Retail banking 51 10 61 6 55 66 Total consumer banking 596 122 718 53 665 968 Commercial Banking: Commercial and multifamily real estate 72 0 72 4 68 73 Commercial and industrial 462 293 755 55 700 882 Total commercial lending 534 293 827 59 768 955 Small-ticket commercial real estate 6 0 6 0 6 8 Total commercial banking 540 293 833 59 774 963 Total $ 1,972 $ 415 $ 2,387 $ 414 $ 1,973 $ 2,748 December 31, 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 $ 639 $ 0 $ 639 $ 208 $ 431 $ 625 International card businesses 173 0 173 84 89 167 Total credit card (1) 812 0 812 292 520 792 Consumer Banking: Auto (2) 363 118 481 30 451 730 Home loan 192 41 233 15 218 298 Retail banking 51 10 61 8 53 66 Total consumer banking 606 169 775 53 722 1,094 Commercial Banking: Commercial and multifamily real estate 138 2 140 13 127 143 Commercial and industrial 489 222 711 63 648 844 Total commercial lending 627 224 851 76 775 987 Small-ticket commercial real estate 7 0 7 0 7 9 Total commercial banking 634 224 858 76 782 996 Total $ 2,052 $ 393 $ 2,445 $ 421 $ 2,024 $ 2,882 Three Months Ended March 31, 2018 2017 (Dollars in millions) Average Interest Average Interest Credit Card: Domestic credit card $ 646 $ 16 $ 585 $ 15 International card businesses 178 3 141 3 Total credit card (1) 824 19 726 18 Consumer Banking: Auto (2) 456 13 511 15 Home loan 229 1 344 1 Retail banking 61 0 58 1 Total consumer banking 746 14 913 17 Commercial Banking: Commercial and multifamily real estate 106 1 113 1 Commercial and industrial 733 6 1,309 3 Total commercial lending 839 7 1,422 4 Small-ticket commercial real estate 6 0 6 0 Total commercial banking 845 7 1,428 4 Total $ 2,415 $ 40 $ 3,067 $ 39 __________ (1) The period-end and average recorded investments of credit card loans include finance charges and fees. (2) Includes certain TDRs that are recorded as other assets on our consolidated balance sheets. Total recorded TDRs were $2.1 billion and $2.2 billion as of March 31, 2018 and December 31, 2017 , respectively. TDRs classified as performing in our credit card and consumer banking loan portfolios totaled $1.3 billion as of both March 31, 2018 and December 31, 2017 . TDRs classified as performing in our commercial loan portfolio totaled $524 million and $574 million as of March 31, 2018 and December 31, 2017 , respectively. Commitments to lend additional funds on loans modified in TDRs totaled $311 million and $241 million as of March 31, 2018 and December 31, 2017 , 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 months ended March 31, 2018 and 2017 . Table 4.10 : Troubled Debt Restructurings Total Loans (1) Three Months Ended March 31, 2018 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (2) Average % of (2) Average % of (2) Gross Credit Card: Domestic credit card $ 113 100 % 15.73 % 0 % 0 0 % $ 0 International card businesses 50 100 26.86 0 0 0 0 Total credit card 163 100 19.17 0 0 0 0 Consumer Banking: Auto (3) 62 52 3.76 91 7 0 0 Home loan 6 28 1.78 83 214 0 0 Retail banking 2 11 10.22 81 5 0 0 Total consumer banking 70 49 3.71 90 23 0 0 Commercial Banking: Commercial and multifamily real estate 2 0 0.00 100 7 0 0 Commercial and industrial 11 0 0.00 100 11 0 0 Total commercial lending 13 0 0.00 100 11 0 0 Small-ticket commercial real estate 2 0 0.00 0 0 0 0 Total commercial banking 15 0 0.00 85 11 0 0 Total $ 248 80 16.50 30 21 0 $ 0 Total Loans (1) Three Months Ended March 31, 2017 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (2) Average % of (2) Average % of (2) Gross Credit Card: Domestic credit card $ 97 100 % 13.85 % 0 % 0 0 % $ 0 International card businesses 44 100 26.18 0 0 0 0 Total credit card 141 100 17.74 0 0 0 0 Consumer Banking: Auto (3) 75 52 4.02 89 7 10 7 Home loan 8 60 2.01 80 224 0 0 Retail banking 2 50 3.00 65 7 0 0 Total consumer banking 85 53 3.78 87 25 9 7 Commercial Banking: Commercial and multifamily real estate 2 100 0.25 100 12 0 0 Commercial and industrial 147 1 0.31 19 26 0 0 Total commercial lending 149 2 0.27 20 25 0 0 Small-ticket commercial real estate 0 0 0.00 0 0 0 0 Total commercial banking 149 2 0.27 20 25 0 0 Total $ 375 50 14.14 28 25 2 $ 7 __________ (1) Represents the recorded investment of total loans modified in TDRs at the end of the quarter in which they were modified. 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. (2) Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types. (3) Includes certain TDRs that are recorded as other assets on our consolidated balance sheets. TDRs—Subsequent Defaults of Completed TDR Modifications The following table presents the type, number and recorded investment 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 : TDRs—Subsequent Defaults Three Months Ended March 31, 2018 2017 (Dollars in millions) Number of Amount Number of Amount Credit Card: Domestic credit card 16,339 $ 34 12,805 $ 26 International card businesses 13,939 26 11,425 16 Total credit card 30,278 60 24,230 42 Consumer Banking: Auto 1,807 21 2,179 25 Home loan 3 1 11 3 Retail banking 8 0 11 1 Total consumer banking 1,818 22 2,201 29 Commercial Banking: Commercial and multifamily real estate 0 0 0 0 Commercial and industrial 6 35 14 19 Total commercial lending 6 35 14 19 Small-ticket commercial real estate 0 0 1 1 Total commercial banking 6 35 15 20 Total 32,102 $ 117 26,446 $ 91 PCI Loans Outstanding Balance and Carrying Value of PCI Loans The table below presents the outstanding balance and the carrying value of PCI loans as of March 31, 2018 and December 31, 2017 . See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for information related to our accounting policies for impaired loans. Table 4.12 : PCI Loans PCI Loans (Dollars in millions) March 31, 2018 December 31, 2017 Outstanding balance $ 10,947 $ 11,855 Carrying value (1) 9,928 10,767 __________ (1) Includes $35 million and $37 million of allowance for loan and lease losses for these loans as of March 31, 2018 and December 31, 2017 , respectively. We recorded a $2 million release and a $1 million provision for credit losses for the three months ended March 31, 2018 and 2017 , respectively, for PCI loans. Changes in Accretable Yield The following table presents changes in the accretable yield on PCI loans. Reclassification from or to nonaccretable differences represent changes in accretable yield for those loans in pools that are driven primarily by credit performance. Changes in accretable yield for non-credit related changes in expected cash flows are driven primarily by actual prepayments and changes in estimated prepayments. Table 4.13 : Changes in Accretable Yield on PCI Loans (Dollars in millions) PCI Loans Accretable yield as of December 31, 2017 $ 2,168 Accretion recognized in earnings (117 ) Reclassifications from nonaccretable differences 3 Changes in accretable yield for non-credit related changes in expected cash flows (126 ) Accretable yield as of March 31, 2018 $ 1,928 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 3 Months Ended |
Mar. 31, 2018 | |
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 2017 Form 10-K for further discussion of 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 months ended March 31, 2018 and 2017 . Table 5.1 : Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments Activity (Dollars in millions) Credit Card Consumer Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of December 31, 2017 $ 5,648 $ 1,242 $ 611 $ 1 $ 7,502 Charge-offs (1,825 ) (431 ) (21 ) 1 (2,276 ) Recoveries 448 208 2 0 658 Net charge-offs (1,377 ) (223 ) (19 ) 1 (1,618 ) Provision (benefit) for loan and lease losses 1,456 234 (5 ) (1 ) 1,684 Allowance build (release) for loan and lease losses 79 11 (24 ) 0 66 Other changes (2) (1 ) 0 0 0 (1 ) Balance as of March 31, 2018 5,726 1,253 587 1 7,567 Reserve for unfunded lending commitments: Balance as of December 31, 2017 0 7 117 0 124 Benefit for losses on unfunded lending commitments 0 (1 ) (9 ) 0 (10 ) Balance as of March 31, 2018 0 6 108 0 114 Combined allowance and reserve as of March 31, 2018 $ 5,726 $ 1,259 $ 695 $ 1 $ 7,681 (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 (1,601 ) (364 ) (26 ) 0 (1,991 ) Recoveries 330 146 3 2 481 Net charge-offs (1,271 ) (218 ) (23 ) 2 (1,510 ) Provision (benefit) for loan and lease losses 1,717 279 (6 ) (2 ) 1,988 Allowance build (release) for loan and lease losses 446 61 (29 ) 0 478 Other changes (2) 6 0 (3 ) 0 3 Balance as of March 31, 2017 5,058 1,163 761 2 6,984 Reserve for unfunded lending commitments: Balance as of December 31, 2016 0 7 129 0 136 Provision for losses on unfunded lending commitments 0 0 4 0 4 Balance as of March 31, 2017 0 7 133 0 140 Combined allowance and reserve as of March 31, 2017 $ 5,058 $ 1,170 $ 894 $ 2 $ 7,124 __________ (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 where applicable. 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 as of March 31, 2018 and December 31, 2017 . See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for further discussion of allowance methodologies for each of the loan portfolios. Table 5.2 : Components of Allowance for Loan and Lease Losses by Impairment Methodology March 31, 2018 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated $ 5,424 $ 1,170 $ 523 $ 1 $ 7,118 Asset-specific 302 53 59 0 414 PCI loans 0 30 5 0 35 Total allowance for loan and lease losses $ 5,726 $ 1,253 $ 587 $ 1 $ 7,567 Loans held for investment: Collectively evaluated $ 106,740 $ 64,506 $ 64,681 $ 53 $ 235,980 Asset-specific 836 672 833 0 2,341 PCI loans 0 9,496 439 0 9,935 Total loans held for investment $ 107,576 $ 74,674 $ 65,953 $ 53 $ 248,256 Allowance coverage ratio (1) 5.32 % 1.68 % 0.89 % 1.89 % 3.05 % December 31, 2017 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated $ 5,356 $ 1,158 $ 529 $ 1 $ 7,044 Asset-specific 292 53 76 0 421 PCI loans 0 31 6 0 37 Total allowance for loan and lease losses $ 5,648 $ 1,242 $ 611 $ 1 $ 7,502 Loans held for investment: Collectively evaluated $ 113,948 $ 64,080 $ 63,237 $ 58 $ 241,323 Asset-specific 812 705 858 0 2,375 PCI loans 2 10,293 480 0 10,775 Total loans held for investment $ 114,762 $ 75,078 $ 64,575 $ 58 $ 254,473 Allowance coverage ratio (1) 4.92 % 1.65 % 0.95 % 1.72 % 2.95 % __________ (1) 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 net charge-offs and provision for credit losses. See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for further discussion of our card partnership agreements. The table below summarizes the changes in the estimated reimbursements from these partners for the three months ended March 31, 2018 and 2017 . Table 5.3 : Summary of Loss Sharing Arrangements Impacts (Dollars in millions) Estimated Reimbursements from Loss Sharing Partners Balance as of December 31, 2017 $ 380 Amounts due from partners which reduced net charge-offs (97 ) Amounts estimated to be charged to partners which reduced provision for credit losses 105 Balance as of March 31, 2018 $ 388 Balance as of December 31, 2016 $ 228 Amounts due from partners which reduced net charge-offs (65 ) Amounts estimated to be charged to partners which reduced provision for credit losses 72 Balance as of March 31, 2017 $ 235 |
Variable Interest Entities and
Variable Interest Entities and Securitizations | 3 Months Ended |
Mar. 31, 2018 | |
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 variable interest entities (“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 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 for securitization investors, loans held in consolidated trusts and allowance for loan and lease losses, respectively. The assets of a particular VIE are the primary source of funding to settle its obligations. Creditors of these VIEs typically do not have recourse to our general credit. 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 tables below present 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 March 31, 2018 and December 31, 2017 . We separately present information for consolidated and unconsolidated VIEs. Table 6.1 : Carrying Amount of Consolidated and Unconsolidated VIEs March 31, 2018 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) $ 34,258 $ 19,436 $ 0 $ 0 $ 0 Home loan securitizations 0 0 446 374 1,033 Total securitization-related VIEs 34,258 19,436 446 374 1,033 Other VIEs: (2) Affordable housing entities 229 11 4,200 1,257 4,200 Entities that provide capital to low-income and rural communities 1,555 129 0 0 0 Other 0 0 303 0 303 Total other VIEs 1,784 140 4,503 1,257 4,503 Total VIEs $ 36,042 $ 19,576 $ 4,949 $ 1,631 $ 5,536 December 31, 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) $ 34,976 $ 20,651 $ 0 $ 0 $ 0 Home loan securitizations 0 0 455 390 1,057 Total securitization-related VIEs 34,976 20,651 455 390 1,057 Other VIEs: (2) Affordable housing entities 226 10 4,175 1,284 4,175 Entities that provide capital to low-income and rural communities 1,498 129 0 0 0 Other 0 0 318 0 318 Total other VIEs 1,724 139 4,493 1,284 4,493 Total VIEs $ 36,700 $ 20,790 $ 4,948 $ 1,674 $ 5,550 __________ (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) 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 $2.2 billion of assets and $889 million of liabilities as of March 31, 2018 and $2.2 billion of assets and $901 million of liabilities as of December 31, 2017 . Securitization-Related VIEs In a securitization transaction, assets 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 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 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 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 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 our mortgage representation and warranty exposure. The table below presents our continuing involvement in certain securitization-related VIEs as of March 31, 2018 and December 31, 2017 . Table 6.2 : Continuing Involvement in Securitization-Related VIEs Mortgage (Dollars in millions) Credit Card Option- ARM GreenPoint HELOCs GreenPoint Manufactured Housing March 31, 2018: Securities held by third-party investors $ 18,665 $ 1,169 $ 38 $ 490 Receivables in the trust 34,943 1,208 32 492 Cash balance of spread or reserve accounts 0 8 N/A 111 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes No No December 31, 2017: Securities held by third-party investors $ 20,010 $ 1,224 $ 42 $ 508 Receivables in the trust 35,667 1,266 35 511 Cash balance of spread or reserve accounts 0 8 N/A 116 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes No No Credit Card Securitizations We hold certain retained interests in our credit card securitizations and continue to service the receivables in these trusts. As of both March 31, 2018 and December 31, 2017 , 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-adjustable rate mortgage (“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 $1.2 billion as of both March 31, 2018 and December 31, 2017 . 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 including 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 March 31, 2018 and December 31, 2017 . We also have unfunded commitments of $3 million and $4 million related to those interests for our non-consolidated VIEs as of March 31, 2018 and December 31, 2017 , respectively. GreenPoint Credit Manufactured Housing We previously had certain retained 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. These securitization trusts were not consolidated because we did not have the power to direct the activities that most significantly impact the economic performance of the trusts as we did not service the loans. The unpaid principal receivables balances of these manufactured housing securitization transactions were $492 million and $511 million as of March 31, 2018 and December 31, 2017 , respectively. In the fourth quarter of 2017, we entered into an agreement with the third-party servicer under which we assumed the mandatory obligation to exercise the remaining clean-up calls as they become due on certain securitization transactions, and a forward sale agreement pursuant to which we will sell the underlying loans to a third-party purchaser as the clean-up calls are exercised. Accordingly, we recognized loans held for sale and a corresponding liability on our consolidated balance sheets. We recorded $270 million and $283 million of these loan receivables, with the corresponding liability, which is included as a component of other debt, as of March 31, 2018 and December 31, 2017 , respectively. 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 $78 million and $75 million as of March 31, 2018 and December 31, 2017 , 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 expected future obligation under this agreement included in other liabilities on our consolidated balance sheets was $5 million and $10 million as of March 31, 2018 and December 31, 2017 , respectively. 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 three months ended March 31, 2018 and 2017 , we recognized amortization of $124 million and $115 million , respectively, and tax credits of $146 million and $114 million , respectively, associated with these investments within income tax provision. The carrying value of our equity investments in these qualified affordable housing projects was $3.9 billion as of both March 31, 2018 and December 31, 2017 . 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 as of both March 31, 2018 and December 31, 2017 . Predominantly all of this liability is expected to be paid from 2018 to 2020 . 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 maximum exposure to these entities is limited to our variable interests in the entities which consisted of assets of approximately $4.2 billion as of both March 31, 2018 and December 31, 2017 . 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 $11.5 billion as of both March 31, 2018 and December 31, 2017 . 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 $1.6 billion and $1.5 billion as of March 31, 2018 and December 31, 2017 , respectively, are reflected on our consolidated balance sheets in cash, loans held for investment, 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 $303 million and $318 million as of March 31, 2018 and December 31, 2017 , 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 | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 7—GOODWILL AND INTANGIBLE ASSETS The table below presents our goodwill, intangible assets and MSRs as of March 31, 2018 and December 31, 2017 . Goodwill is presented separately, while intangible assets and MSRs are included in other assets on our consolidated balance sheets. Table 7.1 : Components of Goodwill, Intangible Assets and MSRs March 31, 2018 (Dollars in millions) Carrying Accumulated Amortization Net Goodwill $ 14,536 N/A $ 14,536 Intangible assets: Purchased credit card relationship (“PCCR”) intangibles 2,105 $ (1,875 ) 230 Core deposit intangibles 1,149 (1,137 ) 12 Other (1) 291 (155 ) 136 Total intangible assets 3,545 (3,167 ) 378 Total goodwill and intangible assets $ 18,081 $ (3,167 ) $ 14,914 MSRs: Commercial MSRs (2) $ 373 $ (139 ) $ 234 Total MSRs $ 373 $ (139 ) $ 234 December 31, 2017 (Dollars in millions) Carrying Accumulated Amortization Net Goodwill $ 14,533 N/A $ 14,533 Intangible assets: PCCR intangibles 2,105 $ (1,844 ) 261 Core deposit intangibles 1,149 (1,133 ) 16 Other (1) 300 (156 ) 144 Total intangible assets 3,554 (3,133 ) 421 Total goodwill and intangible assets $ 18,087 $ (3,133 ) $ 14,954 MSRs: Consumer MSRs (3) $ 92 N/A $ 92 Commercial MSRs (2) 355 $ (126 ) 229 Total MSRs $ 447 $ (126 ) $ 321 __________ (1) Primarily consists of intangibles for sponsorship relationships, brokerage relationship intangibles, partnership and other contract intangibles and trade name intangibles. (2) Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets. (3) Consumer MSRs were carried at fair value on our consolidated balance sheets as of December 31, 2017. In the first quarter of 2018, we sold the substantial majority of these MSRs. Amortization expense for amortizable intangible assets, which is presented separately in our consolidated statements of income, totaled $44 million and $62 million for the three months ended March 31, 2018 and 2017 , 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 March 31, 2018 and December 31, 2017 . Table 7.2 : Goodwill Attributable to Business Segments (Dollars in millions) Credit Card Consumer Banking Commercial Banking Total Balance as of December 31, 2017 $ 5,032 $ 4,600 $ 4,901 $ 14,533 Other adjustments (1) 3 0 0 3 Balance as of March 31, 2018 $ 5,035 $ 4,600 $ 4,901 $ 14,536 __________ (1) Represents foreign currency translation adjustments. |
Deposits and Borrowings
Deposits and Borrowings | 3 Months Ended |
Mar. 31, 2018 | |
Deposits and Borrowings [Abstract] | |
Deposits and Borrowings | NOTE 8—DEPOSITS AND BORROWINGS 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. We use a variety of other funding sources including short-term borrowings, senior and subordinated notes, securitized debt obligations and other borrowings. In addition, we utilize FHLB advances, which are secured by certain portions of our loan and investment securities portfolios. Securitized debt obligations are presented separately 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. The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of March 31, 2018 and December 31, 2017 . 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) March 31, December 31, Deposits: Non-interest-bearing deposits $ 26,176 $ 26,404 Interest-bearing deposits (1) 224,671 217,298 Total deposits (2) $ 250,847 $ 243,702 Short-term borrowings: Federal funds purchased and securities loaned or sold under agreements to repurchase $ 656 $ 576 Total short-term borrowings $ 656 $ 576 March 31, 2018 (Dollars in millions) Maturity Dates Stated Interest Rates Weighted- Average Interest Rate Carrying Value December 31, Long-term debt: Securitized debt obligations 2018-2025 1.33-2.75% 2.02 % $ 18,665 $ 20,010 Senior and subordinated notes: Fixed unsecured senior debt 2018-2028 1.85-4.75 2.92 22,920 22,776 Floating unsecured senior debt 2018-2023 2.22-3.03 2.68 3,645 3,446 Total unsecured senior debt 2.88 26,565 26,222 Fixed unsecured subordinated debt 2019-2026 3.38-8.80 4.09 4,486 4,533 Total senior and subordinated notes 31,051 30,755 Other long-term borrowings: FHLB advances 2018-2023 4.18-5.36 4.62 4 8,609 Other borrowings 2018-2035 1.00-16.75 7.36 317 331 Total other long-term borrowings 321 8,940 Total long-term debt $ 50,037 $ 59,705 Total short-term borrowings and long-term debt $ 50,693 $ 60,281 __________ (1) Includes $1.6 billion and $1.3 billion of time deposits in denominations in excess of the $250,000 federal insurance limit as of March 31, 2018 and December 31, 2017 , respectively. (2) Includes approximately $1.6 billion of held for sale deposits as of March 31, 2018 associated with the anticipated sale of our online retail brokerage business. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2018 | |
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 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 which we use to 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 LCH Limited (“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 CCPs 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. For CME-cleared OTC derivatives, we characterize variation margin cash payments as settlements. Effective January 16, 2018, LCH amended its rulebook to legally characterize variation margin payments as settlements. We adopted this rule change in the first quarter of 2018. As a result, the balances for LCH-cleared derivatives are reduced to reflect the settlement of these positions. We record counterparty credit risk valuation adjustments (“CVAs”) on our 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 record debit valuation adjustments (“DVAs”) to adjust the fair value of our derivative liabilities to reflect the impact of our own credit quality. 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 and presented in the same line item as the earnings effect of the hedged item on our consolidated statements of income. 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. Those amounts are reclassified into earnings in the same period or periods during which the forecasted transactions impact earnings and are presented in the same line item on our consolidated statements of income as the earnings effect of the hedged items. 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 a 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 under the forward method. • Free-Standing Derivatives: We use free-standing derivatives to economically hedge the risk of changes in the fair value of mortgage loan origination and purchase commitments, as well as 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 as of March 31, 2018 and December 31, 2017 , 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. Derivative assets and liabilities are included in other assets and other liabilities, respectively, on our consolidated balance sheets. Table 9.1 : Derivative Assets and Liabilities at Fair Value March 31, 2018 December 31, 2017 Notional or Contractual Amount Derivative (1)(4) Notional or Contractual Amount Derivative (1) (Dollars in millions) Assets Liabilities Assets Liabilities Derivatives designated as accounting hedges: Interest rate contracts: Fair value hedges $ 63,064 $ 42 $ 18 $ 56,604 $ 102 $ 164 Cash flow hedges 76,050 14 98 77,300 30 125 Total interest rate contracts 139,114 56 116 133,904 132 289 Foreign exchange contracts: Cash flow hedges 5,684 63 37 6,086 19 75 Net investment hedges 2,516 5 187 3,036 1 164 Total foreign exchange contracts 8,200 68 224 9,122 20 239 Total derivatives designated as accounting hedges 147,314 124 340 143,026 152 528 Derivatives not designated as accounting hedges: Interest rate contracts covering: Customer accommodation 50,853 766 927 48,520 848 727 Other interest rate exposures (2) 5,621 22 13 3,857 40 8 Total interest rate contracts 56,474 788 940 52,377 888 735 Other contracts 1,105 2 23 1,209 0 5 Total derivatives not designated as accounting hedges 57,579 790 963 53,586 888 740 Total derivatives $ 204,893 $ 914 $ 1,303 $ 196,612 $ 1,040 $ 1,268 Less: netting adjustment (3) (318 ) (801 ) (275 ) (662 ) Total derivative assets/liabilities $ 596 $ 502 $ 765 $ 606 __________ (1) Derivative assets and liabilities presented above exclude valuation adjustments related to non-performance risk. As of March 31, 2018 and December 31, 2017 , the cumulative CVA balances were $3 million and $2 million , respectively, and the cumulative DVA balances were less than $1 million as of both March 31, 2018 and December 31, 2017 . (2) Other interest rate exposures include mortgage-related derivatives, interest rate swaps and to-be-announced derivatives. (3) Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. (4) Reflects a reduction in derivative assets of $463 million and a reduction in derivative liabilities of $539 million on our consolidated balance sheets as a result of adopting the LCH variation margin rule change in the first quarter of 2018. The following table summarizes the carrying value of our hedged assets and liabilities in fair value hedges and the associated cumulative basis adjustments included in those carrying values as of March 31, 2018: Table 9.2 : Hedged Items in Fair Value Hedging Relationships March 31, 2018 Carrying Amount Assets/(Liabilities) Cumulative Amount of Basis Adjustments Included in the Carrying Amount (Dollars in millions) Total Assets/(Liabilities) Discontinued-Hedging Relationships Line item on our consolidated balance sheets in which the hedged item is included: Investment securities available for sale (1)(2) $ 14,956 $ (113 ) $ 0 Interest-bearing deposits (14,243 ) 351 0 Securitized debt obligations (11,304 ) 228 0 Senior and subordinated notes (27,406 ) 533 372 __________ (1) These amounts include the amortized cost basis of our investment securities designated in hedging relationships for which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. As of March 31, 2018, the amortized cost basis of this portfolio was $10.3 billion , the amount of the designated hedged items was $3.8 billion and the cumulative basis adjustments associated with these hedges was less than $1 million . (2) Carrying value represents amortized cost. 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. For derivative contracts entered into under master netting arrangements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting arrangements, we do not offset our derivative positions for balance sheet presentation. 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 posting and daily variation margin settlement 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 March 31, 2018 and December 31, 2017 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 9.3 : 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 March 31, 2018 Derivative assets (1)(2) $ 914 $ (189 ) $ (129 ) $ 596 $ 0 $ 596 As of December 31, 2017 Derivative assets (1) 1,040 (202 ) (73 ) 765 0 765 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 March 31, 2018 Derivative liabilities (1)(2) $ 1,303 $ (189 ) $ (612 ) $ 502 $ 0 $ 502 Repurchase agreements (3) 656 0 0 656 (656 ) 0 As of December 31, 2017 Derivative liabilities (1) 1,268 (202 ) (460 ) 606 0 606 Repurchase agreements 576 0 0 576 (576 ) 0 __________ (1) We received cash collateral from derivative counterparties totaling $150 million and $91 million as of March 31, 2018 and December 31, 2017 , respectively. We also received securities from derivative counterparties with a fair value of $1 million as of both March 31, 2018 and December 31, 2017 , which we have the ability to re-pledge. We posted $1.2 billion and $966 million of cash collateral as of March 31, 2018 and December 31, 2017 , respectively. (2) Reflects a reduction in derivative assets of $463 million and a reduction in derivative liabilities of $539 million on our consolidated balance sheets as a result of adopting the LCH variation margin rule change in the first quarter of 2018. (3) Represents customer repurchase agreements that mature the next business day. As of March 31, 2018 , we pledged collateral with a fair value of $670 million under these customer repurchase agreements, which were primarily agency RMBS securities. Income Statement and AOCI Presentation Fair Value and Cash Flow Hedges The net gains (losses) recognized in our consolidated statements of income related to derivatives in fair value and cash flow hedging relationships are presented below for the three months ended March 31, 2018 and 2017. Prior period amounts were not reclassified to conform to the current period presentation. Table 9.4 : Effects of Fair Value and Cash Flow Hedge Accounting Three Months Ended March 31, 2018 Net Interest Income (Dollars in millions) Investment Securities Loans, Including Loans Held for Sale Other Deposits Securitized Debt Obligations Senior and Subordinated Notes Total amounts presented in our consolidated statements of income $ 452 $ 6,134 $ 51 $ 539 $ 107 $ 251 Fair value hedging relationships: Interest rate contracts: Interest recognized on derivatives (8 ) 0 0 (2 ) (5 ) 10 Gains (losses) recognized on derivatives 100 0 0 (160 ) (101 ) (357 ) Gains (losses) recognized on hedged items (1) (99 ) 0 0 155 98 325 Net income (expense) recognized on fair value hedges $ (7 ) $ 0 $ 0 $ (7 ) $ (8 ) $ (22 ) Cash flow hedging relationships: (2) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income $ (2 ) $ 8 $ 0 $ 0 $ 0 $ 0 Foreign exchange contracts: Realized gains reclassified from AOCI into net income 0 0 8 0 0 0 Net income (expense) recognized on cash flow hedges $ (2 ) $ 8 $ 8 $ 0 $ 0 $ 0 _________ (1) Includes amortization of basis adjustments related to discontinued hedges of $10 million for the three months ended March 31, 2018. (2) See “ Note 10—Stockholders’ Equity ” for the effects of cash flow and net investment hedges on AOCI and amounts reclassified to net income, net of tax. (Dollars in millions) Three Months Ended March 31, 2017 Derivatives designated as fair value hedges: Fair value interest rate contracts: Gains (losses) recognized in net income on derivatives $ (45 ) Gains (losses) recognized in net income on hedged items 39 Net fair value hedge ineffectiveness gains (losses) (6 ) Derivatives designated as cash flow hedges: Gains (losses) reclassified from AOCI into net income: Interest rate contracts 37 Foreign exchange contracts 3 Subtotal 40 Gains (losses) recognized in net income due to ineffectiveness: Interest rate contracts (1 ) Net derivative gains (losses) recognized in net income $ 39 In the next 12 months, we expect to reclassify to earnings net after-tax losses of $89 million recorded in AOCI as of March 31, 2018 . 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 six years as of March 31, 2018 . 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. Free-Standing Derivatives The net impacts to our consolidated statements of income related to free-standing derivatives are presented below for the three months ended March 31, 2018 and 2017. These gains or losses are recognized in other non-interest income on our consolidated statements of income. Table 9.5 : Gains (Losses) on Free-Standing Derivatives Three Months Ended March 31, (Dollars in millions) 2018 2017 Gains (losses) recognized in other non-interest income: Interest rate contracts covering: Customer accommodation $ 10 $ 10 Other interest rate exposures 12 7 Total interest rate contracts 22 17 Other contracts (20 ) 0 Total $ 2 $ 17 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 10—STOCKHOLDERS’ EQUITY Preferred Stock The following table summarizes the Company’s preferred stock issued and outstanding as of March 31, 2018 and December 31, 2017 . 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 March 31, 2018 December 31, 2017 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 Accumulated other comprehensive income primarily consists of accumulated net unrealized gains or losses associated with available for sale securities, the changes in fair value of derivatives designated as cash flow hedges, unrealized gains and losses on securities held to maturity on the transfer date from the available for sale category and foreign currency translation adjustments. Unrealized gains and losses for securities held to maturity are amortized over the remaining life of the security with no expected impact on future net income as amortization of these gains or losses will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity. The following table includes the AOCI impacts from the adoption of accounting standards and the changes in AOCI by component for the three months ended March 31, 2018 and 2017 . See “ Note 1—Summary of Significant Accounting Policies ” for more information. Table 10.2 : Accumulated Other Comprehensive Income (Dollars in millions) Securities Available for Sale Securities Held to Maturity Cash Flow Hedges Foreign (1) Other Total AOCI as of December 31, 2017 $ 17 $ (524 ) $ (281 ) $ (138 ) $ 0 $ (926 ) Cumulative effects from adoption of new accounting standards 3 (113 ) (63 ) 0 (28 ) (201 ) Transfer of securities held to maturity to available for sale (2) (325 ) 407 0 0 0 82 Other comprehensive income (loss) before reclassifications (254 ) 0 (307 ) 7 0 (554 ) Amounts reclassified from AOCI into earnings (6 ) 18 (11 ) 0 (1 ) 0 Net other comprehensive income (loss) (585 ) 425 (318 ) 7 (1 ) (472 ) AOCI as of March 31, 2018 $ (565 ) $ (212 ) $ (662 ) $ (131 ) $ (29 ) $ (1,599 ) (Dollars in millions) Securities Securities Held to Maturity Cash Flow Foreign (1) Other Total AOCI as of December 31, 2016 $ (4 ) $ (621 ) $ (78 ) $ (222 ) $ (24 ) $ (949 ) Other comprehensive income (loss) before reclassifications 36 0 (26 ) 17 7 34 Amounts reclassified from AOCI into earnings 0 23 (40 ) 0 (2 ) (19 ) Net other comprehensive income (loss) 36 23 (66 ) 17 5 15 AOCI as of March 31, 2017 $ 32 $ (598 ) $ (144 ) $ (205 ) $ (19 ) $ (934 ) __________ (1) Includes other comprehensive losses of $60 million and $22 million for the three months ended March 31, 2018 and 2017, respectively, from hedging instruments designated as net investment hedges. (2) In the first quarter of 2018, we made a one-time transfer of held to maturity securities with a carrying value of $9.0 billion to available for sale as a result of our adoption of ASU No. 2017-12. This transfer resulted in an after-tax gain of $82 million ( $107 million pre-tax) to AOCI. The following table presents the impacts on net income of amounts reclassified from each component of AOCI for the three months ended March 31, 2018 and 2017 . Table 10.3 : Reclassifications from AOCI Amount Reclassified from AOCI (Dollars in millions) Three Months Ended March 31, AOCI Components Affected Income Statement Line Item 2018 2017 Securities available for sale: Non-interest income $ 8 $ 0 Income tax provision 2 0 Net income 6 0 Securities held to maturity: (1) Interest income (24 ) (36 ) Income tax benefit (6 ) (13 ) Net loss (18 ) (23 ) Cash flow hedges: Interest rate contracts: Interest income 6 58 Foreign exchange contracts: Interest income 8 6 Income from continuing operations before income taxes 14 64 Income tax provision 3 24 Net income 11 40 Other: Non-interest income and non-interest expense 1 2 Net income 1 2 Total reclassifications $ 0 $ 19 __________ (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 months ended March 31, 2018 and 2017 . Table 10.4 : Other Comprehensive Income (Loss) Three Months Ended March 31, 2018 2017 (Dollars in millions) Before Tax Provision After Tax Before Tax Provision After Tax Other comprehensive income (loss): Net unrealized gains (losses) on securities available for sale $ (771 ) $ (186 ) $ (585 ) $ 46 $ 10 $ 36 Net changes in securities held to maturity 559 134 425 36 13 23 Net unrealized losses on cash flow hedges (418 ) (100 ) (318 ) (104 ) (38 ) (66 ) Foreign currency translation adjustments (1) (12 ) (19 ) 7 4 (13 ) 17 Other (1 ) 0 (1 ) 7 2 5 Other comprehensive income (loss) $ (643 ) $ (171 ) $ (472 ) $ (11 ) $ (26 ) $ 15 __________ (1) Includes the impact from hedging instruments designated as net investment hedges. |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, (Dollars and shares in millions, except per share data) 2018 2017 Income from continuing operations, net of tax $ 1,343 $ 795 Income from discontinued operations, net of tax 3 15 Net income 1,346 810 Dividends and undistributed earnings allocated to participating securities (10 ) (5 ) Preferred stock dividends (52 ) (53 ) Net income available to common stockholders $ 1,284 $ 752 Total weighted-average basic shares outstanding 486.9 482.3 Effect of dilutive securities: Stock options 2.0 2.9 Other contingently issuable shares 1.2 1.4 Warrants (1) 0.7 1.3 Total effect of dilutive securities 3.9 5.6 Total weighted-average diluted shares outstanding 490.8 487.9 Basic earnings per common share: Net income from continuing operations $ 2.63 $ 1.53 Income from discontinued operations 0.01 0.03 Net income per basic common share $ 2.64 $ 1.56 Diluted earnings per common share: (2) Net income from continuing operations $ 2.61 $ 1.51 Income from discontinued operations 0.01 0.03 Net income per diluted common share $ 2.62 $ 1.54 __________ (1) Represents warrants issued as part of the U.S. Department of Treasury’s Troubled Assets Relief Program (“TARP”). There were 1.2 million and 1.5 million warrants to purchase common stock outstanding as of March 31, 2018 and 2017 , respectively. (2) Excluded from the computation of diluted earnings per share were 107 thousand shares related to awards for the three months ended March 31, 2018 and 222 thousand shares related to options with an exercise price of $86.34 for the three months ended March 31, 2017, because their inclusion would be anti-dilutive. |
Fair Value Measurement
Fair Value Measurement | 3 Months Ended |
Mar. 31, 2018 | |
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 2017 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 vendor 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 value 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 March 31, 2018 and December 31, 2017 . During the three months ended March 31, 2018 , we had minimal movements between Levels 1 and 2. Table 12.1 : Assets and Liabilities Measured at Fair Value on a Recurring Basis March 31, 2018 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 $ 5,251 $ 0 $ 0 $ — $ 5,251 RMBS 0 35,153 614 — 35,767 CMBS 0 4,447 13 — 4,460 Other ABS 0 330 0 — 330 Other securities 205 1,137 5 — 1,347 Total securities available for sale 5,456 41,067 632 — 47,155 Other assets: Derivative assets (2) 0 878 36 (318 ) 596 Other (3) 300 0 176 — 476 Total assets $ 5,756 $ 41,945 $ 844 $ (318 ) $ 48,227 Liabilities: Other liabilities: Derivative liabilities (2) $ 0 $ 1,258 $ 45 $ (801 ) $ 502 Total liabilities $ 0 $ 1,258 $ 45 $ (801 ) $ 502 December 31, 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 $ 5,171 $ 0 $ 0 $ — $ 5,171 RMBS 0 27,178 614 — 27,792 CMBS 0 3,161 14 — 3,175 Other ABS 0 512 0 — 512 Other securities 320 680 5 — 1,005 Total securities available for sale 5,491 31,531 633 — 37,655 Other assets: Derivative assets (2) 1 1,002 37 (275 ) 765 Other (3) 281 0 264 — 545 Total assets $ 5,773 $ 32,533 $ 934 $ (275 ) $ 38,965 Liabilities: Other liabilities: Derivative liabilities (2) $ 1 $ 1,243 $ 24 $ (662 ) $ 606 Total liabilities $ 1 $ 1,243 $ 24 $ (662 ) $ 606 __________ (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 Instruments and Hedging Activities ” for additional information. (2) Does not reflect $2 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of both March 31, 2018 and December 31, 2017 . 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) As of March 31, 2018 , other includes retained interests in securitizations of $176 million , deferred compensation plan assets of $291 million and equity securities of $9 million . As of December 31, 2017 , other includes consumer MSRs of $92 million , retained interests in securitizations of $172 million and deferred compensation plan assets of $281 million . 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 months ended March 31, 2018 and 2017 . When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. Generally, transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these financial instruments as evidenced by wider pricing variations among pricing vendors and 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. Table 12.2 : Level 3 Recurring Fair Value Rollforward Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2018 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (1) (Dollars in millions) Balance, January 1, 2018 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 Transfers Out of Level 3 Balance, Securities available for sale: RMBS $ 614 $ 9 $ (2 ) $ 0 $ 0 $ 0 $ (21 ) $ 61 $ (47 ) $ 614 $ 9 CMBS 14 0 0 0 0 0 (1 ) 0 0 13 0 Other securities 5 0 0 0 0 0 0 0 0 5 0 Total securities available for sale 633 9 (2 ) 0 0 0 (22 ) 61 (47 ) 632 9 Other assets: Consumer MSRs 92 3 0 0 (97 ) 2 0 0 0 0 0 Retained interest in securitizations 172 4 0 0 0 0 0 0 0 176 4 Net derivative assets (liabilities) (2) 13 (22 ) 0 0 0 1 (1 ) 0 0 (9 ) (22 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of March 31, 2017 (1) (Dollars in millions) Balance, Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 Transfers Out of Level 3 Balance, Securities available for sale: RMBS $ 518 $ 9 $ 8 $ 0 $ 0 $ 0 $ (22 ) $ 53 $ (117 ) $ 449 $ 0 CMBS 51 0 0 60 0 0 (1 ) 0 (32 ) 78 9 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 578 9 8 60 0 0 (23 ) 53 (149 ) 536 9 Other assets: Consumer MSRs 80 1 0 0 0 7 (2 ) 0 0 86 1 Retained interest in securitizations 201 (6 ) 0 0 0 0 0 0 0 195 (6 ) Net derivative assets (liabilities) (2) 18 0 0 0 0 12 (7 ) 0 (1 ) 22 0 __________ (1) Gains (losses) related to Level 3 securities available for sale, consumer MSRs, retained interests in securitizations, and derivative assets and liabilities are included as a component of non-interest income in our consolidated statements of income. (2) Includes derivative assets and liabilities of $36 million and $45 million , respectively, as of March 31, 2018 and $53 million and $31 million , respectively, as of March 31, 2017 . 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 vendor pricing services to obtain fair value for our securities. Several of our vendor pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other vendor 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 March 31, 2018 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Securities available for sale: RMBS $ 614 Discounted cash flows (vendor pricing) Yield 2-10% 5% CMBS 13 Discounted cash flows (vendor pricing) Yield 3% 3% Other securities 5 Discounted cash flows Yield 3% 3% Other assets: Retained interests in securitization (1) 176 Discounted cash flows Life of receivables (months) 3-61 N/A Net derivative assets (liabilities) (9 ) Discounted cash flows Swap rates 3% 3% Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at December 31, 2017 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Securities available for sale: RMBS $ 614 Discounted cash flows (vendor pricing) Yield 2-9% 5% CMBS 14 Discounted cash flows (vendor pricing) Yield 3% 3% Other securities 5 Discounted cash flows Yield 2% 2% Other assets: Consumer MSRs 92 Discounted cash flows Total prepayment rate 7-30% 16% Retained interests in securitization (1) 172 Discounted cash flows Life of receivables (months) Voluntary prepayment rate 6-79 N/A Net derivative assets (liabilities) 13 Discounted cash flows Swap rates 2% 2% __________ (1) 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 March 31, 2018 and December 31, 2017 , and for which a nonrecurring fair value measurement was recorded during the three and twelve months then ended: Table 12.4 : Nonrecurring Fair Value Measurements March 31, 2018 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 98 $ 98 Loans held for sale 166 0 166 Other assets (1) 0 51 51 Total $ 166 $ 149 $ 315 December 31, 2017 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 182 $ 182 Loans held for sale 177 1 178 Other assets (1) 0 35 35 Total $ 177 $ 218 $ 395 __________ (1) As of March 31, 2018, other assets included equity investments accounted for under measurement alternative of $17 million , foreclosed property and repossessed assets of $25 million and long-lived assets held for sale of $9 million . As of December 31, 2017, other assets included foreclosed property and repossessed assets of $17 million and long-lived assets held for sale of $18 million . In the above table, loans held for investment are generally 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. The non-recoverable rate ranged from 0% to 56% , with a weighted average of 14% , and from 0% to 77% , with a weighted average of 21% , as of March 31, 2018 and December 31, 2017 , respectively. The significant unobservable inputs and related quantitative information related to fair value of the other assets 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 March 31, 2018 and 2017 . Table 12.5 : Nonrecurring Fair Value Measurements Included in Earnings Total Gains (Losses) Three Months Ended March 31, (Dollars in millions) 2018 2017 Loans held for investment $ (76 ) $ (38 ) Loans held for sale 0 0 Other assets (1) (11 ) (5 ) Total $ (87 ) $ (43 ) __________ (1) Other assets include fair value adjustments related to equity investments accounted for under measurement alternative, 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 March 31, 2018 and December 31, 2017 . Table 12.6 : Fair Value of Financial Instruments March 31, 2018 Carrying Value Estimated Fair Value Estimated Fair Value Hierarchy (Dollars in millions) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 14,008 $ 14,008 $ 4,220 $ 9,788 $ 0 Restricted cash for securitization investors 309 309 309 0 0 Securities held to maturity 23,075 22,841 200 22,599 42 Net loans held for investment 240,689 245,852 0 0 245,852 Loans held for sale 1,498 1,512 0 1,512 0 Interest receivable 1,496 1,496 0 1,496 0 Other investments (1) 1,341 1,341 0 1,341 0 Financial liabilities: Deposits with defined maturities 30,706 30,679 0 30,679 0 Securitized debt obligations 18,665 18,752 0 18,752 0 Senior and subordinated notes 31,051 31,469 0 31,469 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 656 656 0 656 0 Other borrowings (2) 274 274 0 274 0 Interest payable 353 353 0 353 0 December 31, 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 $ 14,040 $ 14,040 $ 4,458 $ 9,582 $ 0 Restricted cash for securitization investors 312 312 312 0 0 Securities held to maturity 28,984 29,437 200 29,217 20 Net loans held for investment 246,971 251,468 0 0 251,468 Loans held for sale 971 952 0 949 3 Interest receivable 1,536 1,536 0 1,536 0 Other investments (1) 1,689 1,689 0 1,680 9 Financial liabilities: Deposits 243,702 243,732 26,404 217,328 0 Securitized debt obligations 20,010 20,122 0 20,122 0 Senior and subordinated notes 30,755 31,392 0 31,392 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 576 576 0 576 0 Other borrowings (2) 8,892 8,892 0 8,892 0 Interest payable 413 413 0 413 0 __________ (1) Other investments as of March 31, 2018 include FHLB and Federal Reserve stock. Other investments as of December 31, 2017 include FHLB and Federal Reserve stock, as well as cost method investments. These investments are included in other assets on our consolidated balance sheets. (2) Other borrowings excludes capital lease obligations. |
Business Segments and Revenue f
Business Segments and Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 13—BUSINESS SEGMENTS AND REVENUE FROM CONTRACTS WITH CUSTOMERS 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— Business Developments and 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 2017 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. In the first quarter of 2018, we made a change in how revenue is measured in our Commercial Banking business to include the tax benefits of losses on certain tax-advantaged investments. These tax benefits are included in revenue on a taxable-equivalent basis within our Commercial Banking business, with an offsetting reduction in the Other category. This change in measurement of our Commercial Banking revenue did not have any impact to the consolidated financial statements. The following tables present our business segment results for the three months ended March 31, 2018 and 2017 , selected balance sheet data as of March 31, 2018 and 2017 , and a reconciliation of our total business segment results to our reported consolidated net income from continuing operations, loans held for investment and deposits. Table 13.1 : Segment Results and Reconciliation Three Months Ended March 31, 2018 (Dollars in millions) Credit Consumer Commercial (1)(2) Other (1)(2) Consolidated Net interest income $ 3,558 $ 1,615 $ 536 $ 9 $ 5,718 Non-interest income 857 174 187 (27 ) 1,191 Total net revenue 4,415 1,789 723 (18 ) 6,909 Provision (benefit) for credit losses 1,456 233 (14 ) (1 ) 1,674 Non-interest expense 2,039 1,000 403 131 3,573 Income (loss) from continuing operations before income taxes 920 556 334 (148 ) 1,662 Income tax provision (benefit) 213 130 78 (102 ) 319 Income (loss) from continuing operations, net of tax $ 707 $ 426 $ 256 $ (46 ) $ 1,343 Loans held for investment $ 107,576 $ 74,674 $ 65,953 $ 53 $ 248,256 Deposits 0 193,073 34,449 23,325 250,847 Three Months Ended March 31, 2017 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 3,346 $ 1,517 $ 566 $ 45 $ 5,474 Non-interest income 738 195 158 (30 ) 1,061 Total net revenue 4,084 1,712 724 15 6,535 Provision (benefit) for credit losses 1,717 279 (2 ) (2 ) 1,992 Non-interest expense 1,929 1,042 391 72 3,434 Income (loss) from continuing operations before income taxes 438 391 335 (55 ) 1,109 Income tax provision (benefit) 167 143 122 (118 ) 314 Income from continuing operations, net of tax $ 271 $ 248 $ 213 $ 63 $ 795 Loans held for investment $ 99,213 $ 73,982 $ 67,320 $ 73 $ 240,588 Deposits 0 188,216 33,735 19,231 241,182 __________ (1) Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate (21% and 35% for the first quarters of 2018 and 2017, respectively) and state taxes where applicable, with offsetting reductions to the Other category. (2) In the first quarter of 2018, we made a change in how revenue is measured in our Commercial Banking business to include the tax benefits of losses on certain tax-advantaged investments. These tax benefits are included in revenue on a taxable-equivalent basis within our Commercial Banking business, with an offsetting reduction to the Other category. In addition, all revenue presented on a taxable-equivalent basis in our Commercial Banking business was impacted by the reduction of the federal tax rate set forth in the Tax Act. The net impact of the measurement change and the reduction of the federal tax rate was a decrease of $28 million in revenue in our Commercial Banking business in the first quarter of 2018, with an offsetting impact to the Other category. Revenue from Contracts with Customers In the first quarter of 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) under the modified retrospective transition method. The majority of our revenue from contracts with customers consists of interchange fees in our Credit Card business and service charges on deposits and other customer-related fees in our Consumer Banking and Commercial Banking businesses. Revenue from contracts with customers is included in non-interest income in our consolidated statements of income. The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three months ended March 31, 2018 . Table 13.2: Revenue from Contracts with Customers and Reconciliation to Segments Results Three Months Ended March 31, 2018 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Contract revenue: Interchange fees, net (2) $ 594 $ 42 $ 7 $ 0 $ 643 Service charges and other customer-related fees 2 127 32 0 161 Total contract revenue 596 169 39 0 804 Revenue from other sources 261 5 148 (27 ) 387 Total non-interest income $ 857 $ 174 $ 187 $ (27 ) $ 1,191 __________ (1) Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reclassifications to the Other category. (2) Interchange fees is presented net of customer reward expenses. |
Commitments, Contingencies, Gua
Commitments, Contingencies, Guarantees, and Others | 3 Months Ended |
Mar. 31, 2018 | |
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 reserves for unfunded lending commitments. The following table presents contractual amount and carrying value of our unfunded lending commitments as of March 31, 2018 and December 31, 2017 . 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) March 31, December 31, March 31, December 31, Credit card lines $ 334,176 $ 351,481 N/A N/A Other loan commitments (1) 32,231 31,840 $ 77 $ 84 Standby letters of credit and commercial letters of credit (2) 1,934 2,046 40 43 Total unfunded lending commitments $ 368,341 $ 385,367 $ 117 $ 127 __________ (1) Includes $1.1 billion and $1.0 billion of advised lines of credit as of March 31, 2018 and December 31, 2017 , respectively. (2) These financial guarantees have expiration dates ranging from 2018 to 2025 as of March 31, 2018 . 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 liability recognized on our consolidated balance sheets for our loss sharing agreements was $63 million and $60 million as of March 31, 2018 and December 31, 2017 , respectively. In the fourth quarter of 2017, we entered into an agreement with our third-party servicer under which we assumed the mandatory obligation to exercise the remaining clean-up calls as they become due on certain securitization transactions related to our discontinued manufactured housing operations of GreenPoint Credit, LLC, a subsidiary of GreenPoint. We also entered into a forward sale agreement pursuant to which we will sell the underlying loans to a third-party purchaser as the clean-up calls are exercised. Accordingly, we recognized loans held for sale and a corresponding liability on our consolidated balance sheets. Based on the current information and estimates, we expect that we will incur a loss when each clean-up call is exercised, and have recorded a liability of $79 million and $78 million associated with these clean-up call obligations as of March 31, 2018 and December 31, 2017 , respectively. See “ Note 6—Variable Interest Entities and Securitizations ” for information related to these transactions. U.K. Payment Protection Insurance In the U.K., we previously sold payment protection insurance (“PPI”). 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 March 2, 2017, the FCA 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. The final rules and guidance came into force on August 29, 2017. 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 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 $165 million and $249 million as of March 31, 2018 and December 31, 2017 , respectively. For the three months ended March 31, 2018 , no additions were made to our reserve. Other movements were due to a combination of utilization of the reserve through customer refund payments and foreign exchange movements. Our best estimate of reasonably possible future losses beyond our reserve as of March 31, 2018 is approximately $150 million . 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 estimate reasonably possible losses above existing reserves, and for other disclosed matters, such an estimate is not possible at this time. For those matters below where an estimate is possible, management currently estimates the reasonably possible future losses beyond our reserves as of March 31, 2018 is approximately $550 million , which includes estimates related to mortgage representation and warranty exposure. 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. 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 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 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 Representation and Warranty We face residual exposure related to subsidiaries that originated residential mortgage loans and sold these loans to various purchasers, including purchasers who created securitization trusts. In connection with their sales of mortgage loans, these 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 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. Each of these subsidiaries may be required to repurchase mortgage loans, or indemnify certain purchasers and others against losses they incur, in the event of certain breaches of these representations and warranties. The substantial majority of our representation and warranty exposure has been resolved through litigation, and our remaining representation and warranty exposure is almost entirely litigation-related. Accordingly, we establish litigation reserves for representation and warranty losses that we consider to be both probable and reasonably estimable. The reserve process relies heavily on estimates, which are inherently uncertain, and requires the application of judgment. Our reserves and estimates of reasonably possible losses could be impacted by claims which may be brought by securitization trustees and sponsors, bond-insurers, investors, and GSEs, as well as claims brought by governmental agencies under the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”), the False Claims Act or other federal or state statutes. 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. Anti-Money Laundering Capital One is being investigated by the New York District Attorney’s Office (“NYDA”), the Department of Justice (“DOJ”) and the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of Treasury with respect to certain former check casher clients of the Commercial Banking business and Capital One’s anti-money laundering (“AML”) program. Capital One is cooperating with all agencies involved in the investigation. In addition, Capital One is subject to an open consent order with the Office of the Comptroller of the Currency (“OCC”) dated July 10, 2015 concerning regulatory deficiencies in our AML program. Other Pending and Threatened Litigation In addition, we are commonly subject to various pending and threatened legal actions relating to the conduct of our normal business activities. In the opinion of management, the ultimate aggregate liability, if any, arising out of all such other pending or threatened legal actions will not be material to our consolidated financial position or our results of operations. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying unaudited interim 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 the consolidated 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. |
New Accounting Standards Adopted | Newly Adopted Accounting Standards Accounting Implications of the Tax Cuts and Jobs Act In March 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 . This ASU codifies into existing U.S. GAAP the SEC Staff views expressed in Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act . This guidance addresses situations where an entity’s accounting for the income tax effects of the Tax Act is incomplete upon issuance of the entity’s financial statements for the reporting period in which the Tax Act was enacted. In accordance with this guidance, we included certain provisional amounts for these effects in our consolidated financial statements as of and for the year ended December 31, 2017. See “MD&A—Accounting Changes and Developments” in our 2017 Form 10-K for more information. We continue to assess information relating to such provisional amounts including regulatory guidance, repatriation tax impacts to other jurisdictions, and other information. We expect to finalize our assessment and record any required adjustments to provisional amounts by December 2018. In the first quarter of 2018, we did not have any significant measurement period adjustments. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. U.S. GAAP requires the effects of changes in tax rates and laws on deferred tax balances to be recorded in income tax from continuing operations in the period of enactment. This requirement applies even in situations in which the related income tax effects of items in accumulated other comprehensive income (“AOCI”) were originally recognized in other comprehensive income (rather than in income from continuing operations), which results in certain tax effects being stranded in AOCI. This ASU allows a one-time reclassification from AOCI to retained earnings for stranded tax effects resulting from the Tax Act. Additionally, this ASU requires entities to disclose their accounting policy for releasing stranded tax effects from AOCI, for which ours is to release the effects using a portfolio approach. This ASU provides entities the option to apply the guidance retrospectively or in the period of adoption. We early adopted this ASU in the first quarter of 2018, resulting in a decrease to AOCI and an increase to retained earnings of $173 million . Our reclassification included the effects of the reduction in the federal corporate income tax rate enacted by the Tax Act and the resulting impacts on the federal benefit of deducting state income taxes. Targeted Improvements to Accounting for Hedging Activities In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . This ASU amends hedge accounting guidance to better align hedge accounting with risk management activities, while reducing the complexity of applying and reporting on hedge accounting. Under this ASU, the concept of separately measuring and reporting hedge ineffectiveness has been eliminated and entities are required to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. In addition, for a closed pool of pre-payable financial assets, entities will be able to hedge an amount that is not expected to be affected by prepayments, defaults and other events under the “last-of-layer” method. The guidance permits a one-time reclassification of debt securities eligible to be hedged under the “last-of-layer” method from held to maturity to available for sale upon adoption. We early adopted this ASU in the first quarter of 2018 under the prescribed modified retrospective transition method. As permitted by this ASU, and in order to optimize the investment portfolio management for capital and risk management considerations, we made a one-time election to transfer $9.0 billion of held to maturity securities eligible to be hedged under the “last-of-layer” method to the available for sale category, resulting in an increase to AOCI of $107 million . See “ Note 3—Investment Securities ” and “ Note 9—Derivative Instruments and Hedging Activities ” for additional information on the impacts of the transfer, as well as the disclosures required under the new guidance. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU clarifies certain issues related to classification within the statement of cash flows with the objective of reducing existing diversity in practice. We adopted this ASU in the first quarter of 2018 under the retrospective transition method and our adoption did not have a material impact to our consolidated financial statements. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The primary impact of this ASU to us is the requirement to measure equity investments at fair value with changes in fair value 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 measurement alternative can be elected). We adopted this ASU in the first quarter of 2018 under the modified retrospective method and our adoption did not have a material impact on our consolidated financial statements. Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . Topic 606 was 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. Topic 606, as amended, is applicable to all entities and replaced significant portions of existing industry and transaction-specific revenue recognition rules with a more principles-based recognition model. Entities were given an option to apply either a full or modified retrospective method of adoption. 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. We determined interchange fees earned on credit and debit card transactions, net of any related customer rewards, are in the scope of the amended guidance. We assessed the impact of the new guidance by evaluating our contracts, identifying our performance obligations, determining when the performance obligations were satisfied to allow us to recognize revenue and determining the amount of revenue to recognize. As a result of this analysis, we determined our recognition, measurement and presentation of interchange fees net of customer rewards costs will not change. We adopted this guidance in the first quarter of 2018 under the modified retrospective transition method and our adoption did not have a material impact to our consolidated financial statements. See “ Note 13—Business Segments and Revenue from Contracts with Customers ” for the new disclosures required under this guidance. Recently Issued but Not Yet Adopted Accounting Standards Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This ASU shortens 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, using the modified retrospective method of adoption. We plan to adopt the standard on its effective date. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The guidance in this ASU 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, the first step compares a reporting unit’s carrying value to its fair value. If the carrying value exceeds fair value, an entity performs the second step, which assigns the reporting unit’s fair value to its assets and liabilities, including unrecognized assets and liabilities, in the same manner as required in purchase accounting. Under the new guidance, any impairment of 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 guidance is effective for us on January 1, 2020, with early adoption permitted, using the prospective method of adoption. We are currently evaluating the overall impact of early adopting this ASU. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU 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, net investments in leases that are not accounted for at fair value through net income and certain off-balance sheet arrangements. The CECL model will replace our current accounting for purchased credit-impaired (“PCI”) and impaired loans. This ASU 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 is effective for us on January 1, 2020, with early adoption permitted no earlier than January 1, 2019, using the modified retrospective method of adoption. We plan to adopt the standard on its effective date. We have established a company-wide, cross-functional governance structure for our implementation of this standard. We are in the process of determining key accounting interpretations, data requirements and necessary changes to our credit loss estimation methods, processes and systems. We continue to assess the potential impact on our consolidated financial statements and related disclosures. Due to the significant differences in the revised guidance from existing U.S. GAAP, the implementation of this guidance may result in increases to our reserves for credit losses on financial instruments. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU requires lessees to recognize right of use assets and lease liabilities on their consolidated balance sheets and disclose key information about all their leasing arrangements, with certain practical expedients. This guidance is effective for us on January 1, 2019, with early adoption permitted, using the modified retrospective method of adoption. We plan to adopt the standard on the effective date. We are currently in the process of reviewing lease contracts, implementing a new lease accounting and administration software solution, establishing new processes and internal controls and evaluating the impact of various accounting policy elections. Upon adoption, we expect to record a right of use asset and a corresponding lease liability for our operating leases where we are the lessee. The potential impact on our consolidated financial statements is largely based on the present value of future minimum lease payments, the amount of which will depend upon the population of leases in effect at the date of adoption. Future minimum lease payments totaled $2.7 billion as of December 31, 2017, as disclosed in “Note 8—Premises, Equipment and Lease Commitments” of our 2017 Form 10-K. We do not expect material changes to the recognition of operating lease expense in our consolidated statements of income. |
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. For derivative contracts entered into under master netting arrangements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting arrangements, we do not offset our derivative positions for balance sheet presentation. 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 posting and daily variation margin settlement 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. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | |
Schedule of Investment Portfolio | The table below presents an overview of our investment securities portfolio as of March 31, 2018 and December 31, 2017 . Table 3.1 : Overview of Investment Securities Portfolio (Dollars in millions) March 31, 2018 December 31, 2017 Securities available for sale, at fair value $ 47,155 $ 37,655 Securities held to maturity, at carrying value 23,075 28,984 Total investment securities $ 70,230 $ 66,639 |
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 March 31, 2018 and December 31, 2017 . Table 3.2 : Investment Securities Available for Sale March 31, 2018 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,246 $ 24 $ (19 ) $ 5,251 RMBS: Agency 34,770 47 (1,076 ) 33,741 Non-agency 1,648 379 (1 ) 2,026 Total RMBS 36,418 426 (1,077 ) 35,767 Agency CMBS 4,553 6 (99 ) 4,460 Other ABS 332 0 (2 ) 330 Other securities (2) 1,350 4 (7 ) 1,347 Total investment securities available for sale $ 47,899 $ 460 $ (1,204 ) $ 47,155 December 31, 2017 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Investment securities available for sale: U.S. Treasury securities $ 5,168 $ 11 $ (8 ) $ 5,171 RMBS: Agency 26,013 67 (402 ) 25,678 Non-agency 1,722 393 (1 ) 2,114 Total RMBS 27,735 460 (403 ) 27,792 Agency CMBS 3,209 10 (44 ) 3,175 Other ABS 513 0 (1 ) 512 Other securities (2) 1,003 4 (2 ) 1,005 Total investment securities available for sale $ 37,628 $ 485 $ (458 ) $ 37,655 __________ (1) Includes non-credit-related OTTI that is recorded in AOCI of $1 million as of both March 31, 2018 and December 31, 2017 . Substantially all of this amount is related to non-agency RMBS. (2) Includes supranational bonds and foreign government bonds. In 2017, other securities also included mutual funds and other 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 March 31, 2018 and December 31, 2017 . Table 3.3 : Investment Securities Held to Maturity March 31, 2018 (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 $ 200 $ 0 $ 200 $ 0 $ 0 $ 200 Agency RMBS 20,203 (266 ) 19,937 219 (384 ) 19,772 Agency CMBS 2,952 (14 ) 2,938 9 (78 ) 2,869 Total investment securities held to maturity $ 23,355 $ (280 ) $ 23,075 $ 228 $ (462 ) $ 22,841 December 31, 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 $ 200 $ 0 $ 200 $ 0 $ 0 $ 200 Agency RMBS 25,741 (761 ) 24,980 565 (150 ) 25,395 Agency CMBS 3,882 (78 ) 3,804 70 (32 ) 3,842 Total investment securities held to maturity $ 29,823 $ (839 ) $ 28,984 $ 635 $ (182 ) $ 29,437 __________ (1) In the first quarter of 2018, we made a one-time transfer of held to maturity securities with a carrying value of $9.0 billion to available for sale as a result of our adoption of ASU No. 2017-12. These securities had $535 million pre-tax ( $407 million after-tax) of unrealized losses in AOCI prior to the transfer. See “ Note 10—Stockholders’ Equity ” for more information. |
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 March 31, 2018 and December 31, 2017 . Table 3.4 : Securities in a Gross Unrealized Loss Position March 31, 2018 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 $ 2,456 $ (19 ) $ 0 $ 0 $ 2,456 $ (19 ) RMBS: Agency 18,430 (590 ) 12,028 (486 ) 30,458 (1,076 ) Non-agency 10 0 10 (1 ) 20 (1 ) Total RMBS 18,440 (590 ) 12,038 (487 ) 30,478 (1,077 ) Agency CMBS 2,462 (50 ) 1,179 (49 ) 3,641 (99 ) Other ABS 129 (1 ) 87 (1 ) 216 (2 ) Other securities 816 (7 ) 0 0 816 (7 ) Total investment securities available for sale in a gross unrealized loss position $ 24,303 $ (667 ) $ 13,304 $ (537 ) $ 37,607 $ (1,204 ) December 31, 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 $ 2,031 $ (8 ) $ 0 $ 0 $ 2,031 $ (8 ) RMBS: Agency 8,192 (67 ) 13,175 (335 ) 21,367 (402 ) Non-agency 10 0 10 (1 ) 20 (1 ) Total RMBS 8,202 (67 ) 13,185 (336 ) 21,387 (403 ) Agency CMBS 880 (8 ) 1,236 (36 ) 2,116 (44 ) Other ABS 130 0 95 (1 ) 225 (1 ) Other securities 371 (2 ) 0 0 371 (2 ) Total investment securities available for sale in a gross unrealized loss position $ 11,614 $ (85 ) $ 14,516 $ (373 ) $ 26,130 $ (458 ) |
Schedule of Contractual Maturities for Securities | The table below summarizes, by major security type, the contractual maturities and weighted-average yields of our investment securities as of March 31, 2018 . 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 below. The weighted-average yield below represents the effective yield for the investment securities and is calculated based on the amortized cost of each security. Table 3.5 : Contractual Maturities and Weighted-Average Yields of Securities March 31, 2018 (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 $ 199 $ 1,226 $ 3,826 $ 0 $ 5,251 RMBS (1) : Agency 5 33 594 33,109 33,741 Non-agency 0 0 0 2,026 2,026 Total RMBS 5 33 594 35,135 35,767 Agency CMBS (1) 0 1,842 967 1,651 4,460 Other ABS (1) 0 301 0 29 330 Other securities 207 596 542 2 1,347 Total securities available for sale $ 411 $ 3,998 $ 5,929 $ 36,817 $ 47,155 Amortized cost of securities available for sale $ 412 $ 4,036 $ 5,932 $ 37,519 $ 47,899 Weighted-average yield for securities available for sale 1.05 % 2.04 % 1.88 % 2.80 % 2.61 % Carrying value of securities held to maturity: U.S. Treasury securities $ 200 $ 0 $ 0 $ 0 $ 200 Agency RMBS (1) 0 0 56 19,881 19,937 Agency CMBS (1) 0 0 289 2,649 2,938 Total securities held to maturity $ 200 $ 0 $ 345 $ 22,530 $ 23,075 Fair value of securities held to maturity $ 200 $ 0 $ 346 $ 22,295 $ 22,841 Weighted-average yield for securities held to maturity 1.11 % 0.00 % 3.06 % 3.05 % 3.04 % __________ (1) As of March 31, 2018 , weighted-average expected maturities of RMBS, CMBS and other ABS are 6.5 years , 5.6 years and 1.2 years , respectively. |
Schedule of Gross Realized Gains and Losses on Sale 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 for the three months ended March 31, 2018 and 2017 . There were no OTTI losses recognized in earnings in the periods presented below. 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 3.6 : Realized Gains and Losses on Securities Three Months Ended March 31, (Dollars in millions) 2018 2017 Realized gains (losses): Gross realized gains $ 8 $ 5 Gross realized losses 0 (5 ) Net securities gains (losses) $ 8 $ 0 Total proceeds from sales $ 1,058 $ 2,888 |
Schedule of Outstanding Contractual Balance and Carrying Value of Credit-Impaired Debt Securities | The table below presents the outstanding balance and carrying value of the purchased credit-impaired debt securities as of March 31, 2018 and December 31, 2017 . Table 3.7 : Outstanding Balance and Carrying Value of Purchased Credit-Impaired Debt Securities (Dollars in millions) March 31, 2018 December 31, 2017 Outstanding balance $ 2,039 $ 2,131 Carrying value 1,772 1,843 |
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 months ended March 31, 2018 . Table 3.8 : Changes in the Accretable Yield of Purchased Credit-Impaired Debt Securities (Dollars in millions) Three Months Ended March 31, 2018 Accretable yield as of December 31, 2017 $ 826 Accretion recognized in earnings (39 ) Reduction due to payoffs, disposals, transfers and other (1 ) Net reclassifications from nonaccretable difference 8 Accretable yield as of March 31, 2018 $ 794 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017 . The delinquency aging includes all past due loans, both performing and nonperforming. Table 4.1 : Loan Portfolio Composition and Aging Analysis March 31, 2018 (Dollars in millions) Current 30-59 Days 60-89 Days > 90 Days Total Delinquent Loans PCI Loans Total Loans Credit Card: Domestic credit card $ 95,014 $ 966 $ 740 $ 1,815 $ 3,521 $ 0 $ 98,535 International card businesses 8,699 129 79 134 342 0 9,041 Total credit card 103,713 1,095 819 1,949 3,863 0 107,576 Consumer Banking: Auto 51,763 2,088 764 196 3,048 0 54,811 Home loan 7,056 33 13 48 94 9,480 16,630 Retail banking 3,171 21 9 16 46 16 3,233 Total consumer banking 61,990 2,142 786 260 3,188 9,496 74,674 Commercial Banking: Commercial and multifamily real estate 27,311 5 0 20 25 24 27,360 Commercial and industrial 37,646 18 2 127 147 415 38,208 Total commercial lending 64,957 23 2 147 172 439 65,568 Small-ticket commercial real estate 380 1 0 4 5 0 385 Total commercial banking 65,337 24 2 151 177 439 65,953 Other loans 50 1 1 1 3 0 53 Total loans (1) $ 231,090 $ 3,262 $ 1,608 $ 2,361 $ 7,231 $ 9,935 $ 248,256 % of Total loans 93.09 % 1.31 % 0.65 % 0.95 % 2.91 % 4.00 % 100.00 % December 31, 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 $ 101,072 $ 1,211 $ 915 $ 2,093 $ 4,219 $ 2 $ 105,293 International card businesses 9,110 144 81 134 359 0 9,469 Total credit card 110,182 1,355 996 2,227 4,578 2 114,762 Consumer Banking: Auto 50,151 2,483 1,060 297 3,840 0 53,991 Home loan 7,235 37 16 70 123 10,275 17,633 Retail banking 3,389 24 5 18 47 18 3,454 Total consumer banking 60,775 2,544 1,081 385 4,010 10,293 75,078 Commercial Banking: Commercial and multifamily real estate 26,018 41 17 49 107 25 26,150 Commercial and industrial 37,412 1 70 87 158 455 38,025 Total commercial lending 63,430 42 87 136 265 480 64,175 Small-ticket commercial real estate 393 2 1 4 7 0 400 Total commercial banking 63,823 44 88 140 272 480 64,575 Other loans 54 2 1 1 4 0 58 Total loans (1) $ 234,834 $ 3,945 $ 2,166 $ 2,753 $ 8,864 $ 10,775 $ 254,473 % of Total loans 92.29 % 1.55 % 0.85 % 1.08 % 3.48 % 4.23 % 100.00 % __________ (1) Loans, other than PCI loans, include unamortized premiums and discounts, and unamortized deferred fees and costs totaling $796 million and $773 million as of March 31, 2018 and December 31, 2017 , 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 March 31, 2018 and December 31, 2017 . Nonperforming loans generally include loans that have been placed on nonaccrual status. PCI loans are excluded from the table below. See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for additional information on our policies for nonperforming loans and accounting for PCI loans. Table 4.2 : 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans March 31, 2018 December 31, 2017 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Credit Card: Domestic credit card $ 1,815 N/A $ 2,093 N/A International card businesses 129 $ 23 128 $ 24 Total credit card 1,944 23 2,221 24 Consumer Banking: Auto 0 275 0 376 Home loan 0 143 0 176 Retail banking 0 34 0 35 Total consumer banking 0 452 0 587 March 31, 2018 December 31, 2017 (Dollars in millions) > 90 Days and Accruing Nonperforming Loans > 90 Days and Accruing Nonperforming Loans Commercial Banking: Commercial and multifamily real estate $ 16 $ 4 $ 12 $ 38 Commercial and industrial 1 299 0 239 Total commercial lending 17 303 12 277 Small-ticket commercial real estate 0 6 0 7 Total commercial banking 17 309 12 284 Other loans 0 4 0 4 Total $ 1,961 $ 788 $ 2,233 $ 899 % of Total loans 0.79 % 0.32 % 0.88 % 0.35 % |
Loans and Leases Receivable Disclosure [Line Items] | |
Individually Impaired Loans, Excluding Acquired Loans | The following table presents information on our impaired loans as of March 31, 2018 and December 31, 2017 , and for the three months ended March 31, 2018 and 2017 . 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. PCI loans are excluded from the following tables. Table 4.9 : Impaired Loans March 31, 2018 (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 $ 652 $ 0 $ 652 $ 212 $ 440 $ 638 International card businesses 184 0 184 90 94 179 Total credit card (1) 836 0 836 302 534 817 Consumer Banking: Auto (2) 350 82 432 34 398 625 Home loan 195 30 225 13 212 277 Retail banking 51 10 61 6 55 66 Total consumer banking 596 122 718 53 665 968 Commercial Banking: Commercial and multifamily real estate 72 0 72 4 68 73 Commercial and industrial 462 293 755 55 700 882 Total commercial lending 534 293 827 59 768 955 Small-ticket commercial real estate 6 0 6 0 6 8 Total commercial banking 540 293 833 59 774 963 Total $ 1,972 $ 415 $ 2,387 $ 414 $ 1,973 $ 2,748 December 31, 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 $ 639 $ 0 $ 639 $ 208 $ 431 $ 625 International card businesses 173 0 173 84 89 167 Total credit card (1) 812 0 812 292 520 792 Consumer Banking: Auto (2) 363 118 481 30 451 730 Home loan 192 41 233 15 218 298 Retail banking 51 10 61 8 53 66 Total consumer banking 606 169 775 53 722 1,094 Commercial Banking: Commercial and multifamily real estate 138 2 140 13 127 143 Commercial and industrial 489 222 711 63 648 844 Total commercial lending 627 224 851 76 775 987 Small-ticket commercial real estate 7 0 7 0 7 9 Total commercial banking 634 224 858 76 782 996 Total $ 2,052 $ 393 $ 2,445 $ 421 $ 2,024 $ 2,882 Three Months Ended March 31, 2018 2017 (Dollars in millions) Average Interest Average Interest Credit Card: Domestic credit card $ 646 $ 16 $ 585 $ 15 International card businesses 178 3 141 3 Total credit card (1) 824 19 726 18 Consumer Banking: Auto (2) 456 13 511 15 Home loan 229 1 344 1 Retail banking 61 0 58 1 Total consumer banking 746 14 913 17 Commercial Banking: Commercial and multifamily real estate 106 1 113 1 Commercial and industrial 733 6 1,309 3 Total commercial lending 839 7 1,422 4 Small-ticket commercial real estate 6 0 6 0 Total commercial banking 845 7 1,428 4 Total $ 2,415 $ 40 $ 3,067 $ 39 __________ (1) The period-end and average recorded investments of credit card loans include finance charges and fees. (2) Includes certain TDRs that are recorded as other assets on our consolidated balance sheets. |
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 months ended March 31, 2018 and 2017 . Table 4.10 : Troubled Debt Restructurings Total Loans (1) Three Months Ended March 31, 2018 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (2) Average % of (2) Average % of (2) Gross Credit Card: Domestic credit card $ 113 100 % 15.73 % 0 % 0 0 % $ 0 International card businesses 50 100 26.86 0 0 0 0 Total credit card 163 100 19.17 0 0 0 0 Consumer Banking: Auto (3) 62 52 3.76 91 7 0 0 Home loan 6 28 1.78 83 214 0 0 Retail banking 2 11 10.22 81 5 0 0 Total consumer banking 70 49 3.71 90 23 0 0 Commercial Banking: Commercial and multifamily real estate 2 0 0.00 100 7 0 0 Commercial and industrial 11 0 0.00 100 11 0 0 Total commercial lending 13 0 0.00 100 11 0 0 Small-ticket commercial real estate 2 0 0.00 0 0 0 0 Total commercial banking 15 0 0.00 85 11 0 0 Total $ 248 80 16.50 30 21 0 $ 0 Total Loans (1) Three Months Ended March 31, 2017 Reduced Interest Rate Term Extension Balance Reduction (Dollars in millions) % of (2) Average % of (2) Average % of (2) Gross Credit Card: Domestic credit card $ 97 100 % 13.85 % 0 % 0 0 % $ 0 International card businesses 44 100 26.18 0 0 0 0 Total credit card 141 100 17.74 0 0 0 0 Consumer Banking: Auto (3) 75 52 4.02 89 7 10 7 Home loan 8 60 2.01 80 224 0 0 Retail banking 2 50 3.00 65 7 0 0 Total consumer banking 85 53 3.78 87 25 9 7 Commercial Banking: Commercial and multifamily real estate 2 100 0.25 100 12 0 0 Commercial and industrial 147 1 0.31 19 26 0 0 Total commercial lending 149 2 0.27 20 25 0 0 Small-ticket commercial real estate 0 0 0.00 0 0 0 0 Total commercial banking 149 2 0.27 20 25 0 0 Total $ 375 50 14.14 28 25 2 $ 7 __________ (1) Represents the recorded investment of total loans modified in TDRs at the end of the quarter in which they were modified. 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. (2) Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types. (3) Includes certain TDRs that are recorded as other assets on our consolidated balance sheets. TDRs—Subsequent Defaults of Completed TDR Modifications The following table presents the type, number and recorded investment 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 : TDRs—Subsequent Defaults Three Months Ended March 31, 2018 2017 (Dollars in millions) Number of Amount Number of Amount Credit Card: Domestic credit card 16,339 $ 34 12,805 $ 26 International card businesses 13,939 26 11,425 16 Total credit card 30,278 60 24,230 42 Consumer Banking: Auto 1,807 21 2,179 25 Home loan 3 1 11 3 Retail banking 8 0 11 1 Total consumer banking 1,818 22 2,201 29 Commercial Banking: Commercial and multifamily real estate 0 0 0 0 Commercial and industrial 6 35 14 19 Total commercial lending 6 35 14 19 Small-ticket commercial real estate 0 0 1 1 Total commercial banking 6 35 15 20 Total 32,102 $ 117 26,446 $ 91 |
Outstanding Balance and Carrying Value of Acquired Loans | The table below presents the outstanding balance and the carrying value of PCI loans as of March 31, 2018 and December 31, 2017 . See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for information related to our accounting policies for impaired loans. Table 4.12 : PCI Loans PCI Loans (Dollars in millions) March 31, 2018 December 31, 2017 Outstanding balance $ 10,947 $ 11,855 Carrying value (1) 9,928 10,767 __________ (1) Includes $35 million and $37 million of allowance for loan and lease losses for these loans as of March 31, 2018 and December 31, 2017 , respectively. We recorded a $2 million release and a $1 million provision for credit losses for the three months ended March 31, 2018 and 2017 , respectively, for PCI loans. |
Changes in Accretable Yield on Acquired Loans | The following table presents changes in the accretable yield on PCI loans. Reclassification from or to nonaccretable differences represent changes in accretable yield for those loans in pools that are driven primarily by credit performance. Changes in accretable yield for non-credit related changes in expected cash flows are driven primarily by actual prepayments and changes in estimated prepayments. Table 4.13 : Changes in Accretable Yield on PCI Loans (Dollars in millions) PCI Loans Accretable yield as of December 31, 2017 $ 2,168 Accretion recognized in earnings (117 ) Reclassifications from nonaccretable differences 3 Changes in accretable yield for non-credit related changes in expected cash flows (126 ) Accretable yield as of March 31, 2018 $ 1,928 |
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 March 31, 2018 and December 31, 2017 . Table 4.3 : Credit Card Risk Profile by Geographic Region March 31, 2018 December 31, 2017 (Dollars in millions) Amount % of Total Amount % of Total Domestic credit card: California $ 10,799 10.0 % $ 11,475 10.0 % Texas 7,453 6.9 7,847 6.8 New York 6,839 6.4 7,389 6.4 Florida 6,421 6.0 6,790 5.9 Illinois 4,399 4.1 4,734 4.1 Pennsylvania 4,207 3.9 4,550 4.0 Ohio 3,616 3.4 3,929 3.4 New Jersey 3,361 3.1 3,621 3.2 Michigan 3,260 3.0 3,523 3.1 Other 48,180 44.8 51,435 44.8 Total domestic credit card 98,535 91.6 105,293 91.7 International card businesses: Canada 5,815 5.4 6,286 5.5 United Kingdom 3,226 3.0 3,183 2.8 Total international card businesses 9,041 8.4 9,469 8.3 Total credit card $ 107,576 100.0 % $ 114,762 100.0 % |
Schedule of Net Charge-Offs | The table below presents net charge-offs for the three months ended March 31, 2018 and 2017. Table 4.4 : Credit Card Net Charge-Offs Three Months Ended March 31, 2018 2017 (Dollars in millions) Amount Rate Amount Rate Net charge-offs: (1) Domestic credit card $ 1,321 5.26 % $ 1,196 5.14 % International card businesses 56 2.49 75 3.69 Total credit card $ 1,377 5.03 $ 1,271 5.02 __________ (1) Net charge-offs consist of the unpaid principal balance of loans held for investment that we determine to be uncollectible, net of recovered amounts. Net charge-off rate is calculated by dividing annualized net charge-offs by average loans held for investment for the period for each loan category. Net charge-offs and 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 March 31, 2018 and December 31, 2017 . Table 4.5 : Consumer Banking Risk Profile by Geographic Region March 31, 2018 December 31, 2017 (Dollars in millions) Amount % of Total Amount % of Total Auto: Texas $ 7,096 9.5 % $ 7,040 9.4 % California 6,195 8.3 6,099 8.1 Florida 4,566 6.1 4,486 6.0 Georgia 2,724 3.6 2,726 3.6 Ohio 2,378 3.2 2,318 3.1 Louisiana 2,221 3.0 2,236 3.0 Illinois 2,182 2.9 2,181 2.9 Other 27,449 36.8 26,905 35.8 Total auto 54,811 73.4 53,991 71.9 Home loan: California 3,458 4.7 3,734 5.0 New York 1,888 2.5 1,941 2.6 Maryland 1,170 1.6 1,226 1.6 Virginia 997 1.3 1,034 1.4 Illinois 927 1.2 976 1.3 New Jersey 881 1.2 931 1.2 Texas 845 1.1 882 1.2 Other 6,464 8.7 6,909 9.2 Total home loan 16,630 22.3 17,633 23.5 Retail banking: New York 931 1.3 955 1.3 Louisiana 921 1.2 953 1.3 Texas 699 0.9 717 0.9 New Jersey 209 0.3 221 0.3 Maryland 185 0.2 187 0.2 Virginia 150 0.2 154 0.2 Other 138 0.2 267 0.4 Total retail banking 3,233 4.3 3,454 4.6 Total consumer banking $ 74,674 100.0 % $ 75,078 100.0 % |
Schedule of Net Charge-Offs | The tables below present net charge-offs in our consumer banking loan portfolio for the three months ended March 31, 2018 and 2017 , as well as nonperforming loans as of March 31, 2018 and December 31, 2017 . Table 4.6 : Consumer Banking Net Charge-Offs (Recoveries) and Nonperforming Loans Three Months Ended March 31, 2018 2017 (Dollars in millions) Amount Rate (1) Amount Rate (1) Net charge-offs (recoveries): Auto $ 208 1.53 % $ 199 1.64 % Home loan (2) (1 ) (0.03 ) 2 0.03 Retail banking 16 1.89 17 1.92 Total consumer banking (2) $ 223 1.19 $ 218 1.19 March 31, 2018 December 31, 2017 (Dollars in millions) Amount Rate (3) Amount Rate (3) Nonperforming loans: Auto $ 275 0.50 % $ 376 0.70 % Home loan (4) 143 0.86 176 1.00 Retail banking 34 1.04 35 1.00 Total consumer banking (4) $ 452 0.61 $ 587 0.78 __________ (1) Net charge-off (recovery) rate is calculated by dividing annualized net charge-offs (recoveries) by average loans held for investment for the period for each loan category . (2) Excluding the impact of PCI loans, the net recovery rate for our home loan portfolio was 0.09% and the net charge-off rate for our total consumer banking portfolio was 1.36% for the three months ended March 31, 2018 , compared to net charge-off rates for our home loan and total consumer banking portfolios of 0.08% and 1.46% , respectively, for the three months ended March 31, 2017 . (3) 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. (4) Excluding the impact of PCI loans, the nonperforming loan rates for our home loan and total consumer banking portfolios were 2.00% and 0.69% , respectively, as of March 31, 2018 , compared to 2.39% and 0.91% , respectively, as of December 31, 2017 . |
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 March 31, 2018 and December 31, 2017 based on selected key risk characteristics. Table 4.7 : Home Loan Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type March 31, 2018 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total Amount % of Total Amount % of Total Origination year: (2) < 2009 $ 1,517 9.1 % $ 7,080 42.6 % $ 8,597 51.7 % 2010 61 0.4 994 6.0 1,055 6.4 2011 106 0.6 1,094 6.6 1,200 7.2 2012 629 3.8 168 1.0 797 4.8 2013 360 2.2 41 0.2 401 2.4 2014 448 2.7 24 0.1 472 2.8 2015 882 5.3 28 0.2 910 5.5 2016 1,568 9.4 22 0.1 1,590 9.5 2017 1,570 9.4 29 0.2 1,599 9.6 2018 9 0.1 0 0.0 9 0.1 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % Geographic concentration: California $ 968 5.8 % $ 2,490 15.0 % $ 3,458 20.8 % New York 1,408 8.5 480 2.9 1,888 11.4 Maryland 590 3.5 580 3.5 1,170 7.0 Virginia 524 3.2 473 2.8 997 6.0 Illinois 162 1.0 765 4.6 927 5.6 New Jersey 375 2.3 506 3.0 881 5.3 Texas 781 4.7 64 0.4 845 5.1 Louisiana 770 4.6 15 0.1 785 4.7 Florida 186 1.1 536 3.2 722 4.3 Arizona 88 0.5 529 3.2 617 3.7 Other 1,298 7.8 3,042 18.3 4,340 26.1 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % Lien type: 1 st lien $ 6,199 37.3 % $ 9,265 55.7 % $ 15,464 93.0 % 2 nd lien 951 5.7 215 1.3 1,166 7.0 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % Interest rate type: Fixed rate $ 3,688 22.2 % $ 1,405 8.4 % $ 5,093 30.6 % Adjustable rate 3,462 20.8 8,075 48.6 11,537 69.4 Total $ 7,150 43.0 % $ 9,480 57.0 % $ 16,630 100.0 % December 31, 2017 Loans PCI Loans (1) Total Home Loans (Dollars in millions) Amount % of Total Amount % of Total Amount % of Total Origination year: (2) < 2009 $ 1,648 9.4 % $ 7,688 43.6 % $ 9,336 53.0 % 2010 64 0.4 1,078 6.1 1,142 6.5 2011 113 0.6 1,181 6.7 1,294 7.3 2012 673 3.8 178 1.0 851 4.8 2013 381 2.2 46 0.3 427 2.5 2014 467 2.6 25 0.1 492 2.7 2015 905 5.1 28 0.2 933 5.3 2016 1,604 9.1 23 0.1 1,627 9.2 2017 1,503 8.5 28 0.2 1,531 8.7 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % Geographic concentration: California $ 987 5.6 % $ 2,747 15.6 % $ 3,734 21.2 % New York 1,427 8.1 514 2.9 1,941 11.0 Maryland 608 3.4 618 3.5 1,226 6.9 Virginia 532 3.0 502 2.8 1,034 5.8 Illinois 163 0.9 813 4.6 976 5.5 New Jersey 389 2.2 542 3.1 931 5.3 Texas 811 4.6 71 0.4 882 5.0 Louisiana 826 4.7 17 0.1 843 4.8 Florida 186 1.1 582 3.3 768 4.4 Arizona 91 0.5 577 3.3 668 3.8 Other 1,338 7.6 3,292 18.7 4,630 26.3 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % Lien type: 1 st lien $ 6,364 36.1 % $ 10,054 57.0 % $ 16,418 93.1 % 2 nd lien 994 5.6 221 1.3 1,215 6.9 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % Interest rate type: Fixed rate $ 3,722 21.1 % $ 1,505 8.5 % $ 5,227 29.6 % Adjustable rate 3,636 20.6 8,770 49.8 12,406 70.4 Total $ 7,358 41.7 % $ 10,275 58.3 % $ 17,633 100.0 % __________ (1) PCI loan balances with an origination date in the years subsequent to 2012 represent refinancing of previously acquired home loans. (2) Modified loans are reported in the origination year of the initial borrowing. |
Commercial Banking | |
Loans and Leases Receivable Disclosure [Line Items] | |
Schedule of Concentration of Risk, by Risk Factor | The following table presents the geographic concentration and internal risk ratings of our commercial loan portfolio as of March 31, 2018 and December 31, 2017 . Table 4.8 : Commercial Banking Risk Profile by Geographic Region and Internal Risk Rating March 31, 2018 (Dollars in millions) Commercial and Multifamily Real Estate % of Total Commercial and Industrial % of Total Small-Ticket Commercial Real Estate % of Total Total Commercial Banking % of Total Geographic concentration: (1) Northeast $ 16,105 58.9 % $ 7,765 20.3 % $ 240 62.3 % $ 24,110 36.6 % Mid-Atlantic 2,981 10.9 4,017 10.5 14 3.6 7,012 10.6 South 3,842 14.0 14,559 38.1 21 5.5 18,422 27.9 Other 4,432 16.2 11,867 31.1 110 28.6 16,409 24.9 Total $ 27,360 100.0 % $ 38,208 100.0 % $ 385 100.0 % $ 65,953 100.0 % Internal risk rating: (2) Noncriticized $ 26,807 98.0 % $ 35,588 93.1 % $ 378 98.1 % $ 62,773 95.1 % Criticized performing 525 1.9 1,906 5.0 1 0.3 2,432 3.7 Criticized nonperforming 4 0.0 299 0.8 6 1.6 309 0.5 PCI loans 24 0.1 415 1.1 0 0.0 439 0.7 Total $ 27,360 100.0 % $ 38,208 100.0 % $ 385 100.0 % $ 65,953 100.0 % December 31, 2017 (Dollars in millions) Commercial and Multifamily Real Estate % of Total Commercial and Industrial % of Total Small-Ticket Commercial Real Estate % of Total Total Commercial Banking % of Total Geographic concentration: (1) Northeast $ 14,969 57.3 % $ 7,774 20.4 % $ 250 62.4 % $ 22,993 35.7 % Mid-Atlantic 2,675 10.2 3,922 10.3 15 3.8 6,612 10.2 South 3,719 14.2 14,739 38.8 22 5.5 18,480 28.6 Other 4,787 18.3 11,590 30.5 113 28.3 16,490 25.5 Total $ 26,150 100.0 % $ 38,025 100.0 % $ 400 100.0 % $ 64,575 100.0 % Internal risk rating: (2) Noncriticized $ 25,609 98.0 % $ 35,161 92.5 % $ 392 97.9 % $ 61,162 94.7 % Criticized performing 478 1.8 2,170 5.7 1 0.3 2,649 4.1 Criticized nonperforming 38 0.1 239 0.6 7 1.8 284 0.4 PCI loans 25 0.1 455 1.2 0 0.0 480 0.8 Total $ 26,150 100.0 % $ 38,025 100.0 % $ 400 100.0 % $ 64,575 100.0 % __________ (1) 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. (2) Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities. |
Allowance for Loan and Lease 25
Allowance for Loan and Lease Losses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 as of March 31, 2018 and December 31, 2017 . See “Note 1—Summary of Significant Accounting Policies” in our 2017 Form 10-K for further discussion of allowance methodologies for each of the loan portfolios. Table 5.2 : Components of Allowance for Loan and Lease Losses by Impairment Methodology March 31, 2018 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated $ 5,424 $ 1,170 $ 523 $ 1 $ 7,118 Asset-specific 302 53 59 0 414 PCI loans 0 30 5 0 35 Total allowance for loan and lease losses $ 5,726 $ 1,253 $ 587 $ 1 $ 7,567 Loans held for investment: Collectively evaluated $ 106,740 $ 64,506 $ 64,681 $ 53 $ 235,980 Asset-specific 836 672 833 0 2,341 PCI loans 0 9,496 439 0 9,935 Total loans held for investment $ 107,576 $ 74,674 $ 65,953 $ 53 $ 248,256 Allowance coverage ratio (1) 5.32 % 1.68 % 0.89 % 1.89 % 3.05 % December 31, 2017 (Dollars in millions) Credit Card Consumer Banking Commercial Banking Other Total Allowance for loan and lease losses: Collectively evaluated $ 5,356 $ 1,158 $ 529 $ 1 $ 7,044 Asset-specific 292 53 76 0 421 PCI loans 0 31 6 0 37 Total allowance for loan and lease losses $ 5,648 $ 1,242 $ 611 $ 1 $ 7,502 Loans held for investment: Collectively evaluated $ 113,948 $ 64,080 $ 63,237 $ 58 $ 241,323 Asset-specific 812 705 858 0 2,375 PCI loans 2 10,293 480 0 10,775 Total loans held for investment $ 114,762 $ 75,078 $ 64,575 $ 58 $ 254,473 Allowance coverage ratio (1) 4.92 % 1.65 % 0.95 % 1.72 % 2.95 % __________ (1) 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 months ended March 31, 2018 and 2017 . Table 5.1 : Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments Activity (Dollars in millions) Credit Card Consumer Commercial Banking Other (1) Total Allowance for loan and lease losses: Balance as of December 31, 2017 $ 5,648 $ 1,242 $ 611 $ 1 $ 7,502 Charge-offs (1,825 ) (431 ) (21 ) 1 (2,276 ) Recoveries 448 208 2 0 658 Net charge-offs (1,377 ) (223 ) (19 ) 1 (1,618 ) Provision (benefit) for loan and lease losses 1,456 234 (5 ) (1 ) 1,684 Allowance build (release) for loan and lease losses 79 11 (24 ) 0 66 Other changes (2) (1 ) 0 0 0 (1 ) Balance as of March 31, 2018 5,726 1,253 587 1 7,567 Reserve for unfunded lending commitments: Balance as of December 31, 2017 0 7 117 0 124 Benefit for losses on unfunded lending commitments 0 (1 ) (9 ) 0 (10 ) Balance as of March 31, 2018 0 6 108 0 114 Combined allowance and reserve as of March 31, 2018 $ 5,726 $ 1,259 $ 695 $ 1 $ 7,681 (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 (1,601 ) (364 ) (26 ) 0 (1,991 ) Recoveries 330 146 3 2 481 Net charge-offs (1,271 ) (218 ) (23 ) 2 (1,510 ) Provision (benefit) for loan and lease losses 1,717 279 (6 ) (2 ) 1,988 Allowance build (release) for loan and lease losses 446 61 (29 ) 0 478 Other changes (2) 6 0 (3 ) 0 3 Balance as of March 31, 2017 5,058 1,163 761 2 6,984 Reserve for unfunded lending commitments: Balance as of December 31, 2016 0 7 129 0 136 Provision for losses on unfunded lending commitments 0 0 4 0 4 Balance as of March 31, 2017 0 7 133 0 140 Combined allowance and reserve as of March 31, 2017 $ 5,058 $ 1,170 $ 894 $ 2 $ 7,124 __________ (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 where applicable. |
Schedule of Loss sharing arrangement impact | The table below summarizes the changes in the estimated reimbursements from these partners for the three months ended March 31, 2018 and 2017 . Table 5.3 : Summary of Loss Sharing Arrangements Impacts (Dollars in millions) Estimated Reimbursements from Loss Sharing Partners Balance as of December 31, 2017 $ 380 Amounts due from partners which reduced net charge-offs (97 ) Amounts estimated to be charged to partners which reduced provision for credit losses 105 Balance as of March 31, 2018 $ 388 Balance as of December 31, 2016 $ 228 Amounts due from partners which reduced net charge-offs (65 ) Amounts estimated to be charged to partners which reduced provision for credit losses 72 Balance as of March 31, 2017 $ 235 |
Variable Interest Entities an26
Variable Interest Entities and Securitizations (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Variable Interest Entities and Securitization [Abstract] | |
Carrying Amount of Assets and Liabilities of Variable Interest Entities | The tables below present 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 March 31, 2018 and December 31, 2017 . We separately present information for consolidated and unconsolidated VIEs. Table 6.1 : Carrying Amount of Consolidated and Unconsolidated VIEs March 31, 2018 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) $ 34,258 $ 19,436 $ 0 $ 0 $ 0 Home loan securitizations 0 0 446 374 1,033 Total securitization-related VIEs 34,258 19,436 446 374 1,033 Other VIEs: (2) Affordable housing entities 229 11 4,200 1,257 4,200 Entities that provide capital to low-income and rural communities 1,555 129 0 0 0 Other 0 0 303 0 303 Total other VIEs 1,784 140 4,503 1,257 4,503 Total VIEs $ 36,042 $ 19,576 $ 4,949 $ 1,631 $ 5,536 December 31, 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) $ 34,976 $ 20,651 $ 0 $ 0 $ 0 Home loan securitizations 0 0 455 390 1,057 Total securitization-related VIEs 34,976 20,651 455 390 1,057 Other VIEs: (2) Affordable housing entities 226 10 4,175 1,284 4,175 Entities that provide capital to low-income and rural communities 1,498 129 0 0 0 Other 0 0 318 0 318 Total other VIEs 1,724 139 4,493 1,284 4,493 Total VIEs $ 36,700 $ 20,790 $ 4,948 $ 1,674 $ 5,550 __________ (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) 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 $2.2 billion of assets and $889 million of liabilities as of March 31, 2018 and $2.2 billion of assets and $901 million of liabilities as of December 31, 2017 . |
External Debt and Receivable Balances of Securitization Programs | The table below presents our continuing involvement in certain securitization-related VIEs as of March 31, 2018 and December 31, 2017 . Table 6.2 : Continuing Involvement in Securitization-Related VIEs Mortgage (Dollars in millions) Credit Card Option- ARM GreenPoint HELOCs GreenPoint Manufactured Housing March 31, 2018: Securities held by third-party investors $ 18,665 $ 1,169 $ 38 $ 490 Receivables in the trust 34,943 1,208 32 492 Cash balance of spread or reserve accounts 0 8 N/A 111 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes No No December 31, 2017: Securities held by third-party investors $ 20,010 $ 1,224 $ 42 $ 508 Receivables in the trust 35,667 1,266 35 511 Cash balance of spread or reserve accounts 0 8 N/A 116 Retained interests Yes Yes Yes Yes Servicing retained Yes Yes No No |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Components of Goodwill, Intangible Assets and MSRs | The table below presents our goodwill, intangible assets and MSRs as of March 31, 2018 and December 31, 2017 . Goodwill is presented separately, while intangible assets and MSRs are included in other assets on our consolidated balance sheets. Table 7.1 : Components of Goodwill, Intangible Assets and MSRs March 31, 2018 (Dollars in millions) Carrying Accumulated Amortization Net Goodwill $ 14,536 N/A $ 14,536 Intangible assets: Purchased credit card relationship (“PCCR”) intangibles 2,105 $ (1,875 ) 230 Core deposit intangibles 1,149 (1,137 ) 12 Other (1) 291 (155 ) 136 Total intangible assets 3,545 (3,167 ) 378 Total goodwill and intangible assets $ 18,081 $ (3,167 ) $ 14,914 MSRs: Commercial MSRs (2) $ 373 $ (139 ) $ 234 Total MSRs $ 373 $ (139 ) $ 234 December 31, 2017 (Dollars in millions) Carrying Accumulated Amortization Net Goodwill $ 14,533 N/A $ 14,533 Intangible assets: PCCR intangibles 2,105 $ (1,844 ) 261 Core deposit intangibles 1,149 (1,133 ) 16 Other (1) 300 (156 ) 144 Total intangible assets 3,554 (3,133 ) 421 Total goodwill and intangible assets $ 18,087 $ (3,133 ) $ 14,954 MSRs: Consumer MSRs (3) $ 92 N/A $ 92 Commercial MSRs (2) 355 $ (126 ) 229 Total MSRs $ 447 $ (126 ) $ 321 __________ (1) Primarily consists of intangibles for sponsorship relationships, brokerage relationship intangibles, partnership and other contract intangibles and trade name intangibles. (2) Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets. (3) Consumer MSRs were carried at fair value on our consolidated balance sheets as of December 31, 2017. In the first quarter of 2018, we sold the substantial majority of these MSRs. |
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 March 31, 2018 and December 31, 2017 . Table 7.2 : Goodwill Attributable to Business Segments (Dollars in millions) Credit Card Consumer Banking Commercial Banking Total Balance as of December 31, 2017 $ 5,032 $ 4,600 $ 4,901 $ 14,533 Other adjustments (1) 3 0 0 3 Balance as of March 31, 2018 $ 5,035 $ 4,600 $ 4,901 $ 14,536 __________ (1) Represents foreign currency translation adjustments. |
Deposits and Borrowings (Tables
Deposits and Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deposits and Borrowings [Abstract] | |
Components of Deposits, Short-term Borrowings and Long-term Debt | The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of March 31, 2018 and December 31, 2017 . 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) March 31, December 31, Deposits: Non-interest-bearing deposits $ 26,176 $ 26,404 Interest-bearing deposits (1) 224,671 217,298 Total deposits (2) $ 250,847 $ 243,702 Short-term borrowings: Federal funds purchased and securities loaned or sold under agreements to repurchase $ 656 $ 576 Total short-term borrowings $ 656 $ 576 March 31, 2018 (Dollars in millions) Maturity Dates Stated Interest Rates Weighted- Average Interest Rate Carrying Value December 31, Long-term debt: Securitized debt obligations 2018-2025 1.33-2.75% 2.02 % $ 18,665 $ 20,010 Senior and subordinated notes: Fixed unsecured senior debt 2018-2028 1.85-4.75 2.92 22,920 22,776 Floating unsecured senior debt 2018-2023 2.22-3.03 2.68 3,645 3,446 Total unsecured senior debt 2.88 26,565 26,222 Fixed unsecured subordinated debt 2019-2026 3.38-8.80 4.09 4,486 4,533 Total senior and subordinated notes 31,051 30,755 Other long-term borrowings: FHLB advances 2018-2023 4.18-5.36 4.62 4 8,609 Other borrowings 2018-2035 1.00-16.75 7.36 317 331 Total other long-term borrowings 321 8,940 Total long-term debt $ 50,037 $ 59,705 Total short-term borrowings and long-term debt $ 50,693 $ 60,281 __________ (1) Includes $1.6 billion and $1.3 billion of time deposits in denominations in excess of the $250,000 federal insurance limit as of March 31, 2018 and December 31, 2017 , respectively. (2) Includes approximately $1.6 billion of held for sale deposits as of March 31, 2018 associated with the anticipated sale of our online retail brokerage business. |
Derivative Instruments and He29
Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table summarizes the notional and fair values of our derivative instruments as of March 31, 2018 and December 31, 2017 , 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. Derivative assets and liabilities are included in other assets and other liabilities, respectively, on our consolidated balance sheets. Table 9.1 : Derivative Assets and Liabilities at Fair Value March 31, 2018 December 31, 2017 Notional or Contractual Amount Derivative (1)(4) Notional or Contractual Amount Derivative (1) (Dollars in millions) Assets Liabilities Assets Liabilities Derivatives designated as accounting hedges: Interest rate contracts: Fair value hedges $ 63,064 $ 42 $ 18 $ 56,604 $ 102 $ 164 Cash flow hedges 76,050 14 98 77,300 30 125 Total interest rate contracts 139,114 56 116 133,904 132 289 Foreign exchange contracts: Cash flow hedges 5,684 63 37 6,086 19 75 Net investment hedges 2,516 5 187 3,036 1 164 Total foreign exchange contracts 8,200 68 224 9,122 20 239 Total derivatives designated as accounting hedges 147,314 124 340 143,026 152 528 Derivatives not designated as accounting hedges: Interest rate contracts covering: Customer accommodation 50,853 766 927 48,520 848 727 Other interest rate exposures (2) 5,621 22 13 3,857 40 8 Total interest rate contracts 56,474 788 940 52,377 888 735 Other contracts 1,105 2 23 1,209 0 5 Total derivatives not designated as accounting hedges 57,579 790 963 53,586 888 740 Total derivatives $ 204,893 $ 914 $ 1,303 $ 196,612 $ 1,040 $ 1,268 Less: netting adjustment (3) (318 ) (801 ) (275 ) (662 ) Total derivative assets/liabilities $ 596 $ 502 $ 765 $ 606 __________ (1) Derivative assets and liabilities presented above exclude valuation adjustments related to non-performance risk. As of March 31, 2018 and December 31, 2017 , the cumulative CVA balances were $3 million and $2 million , respectively, and the cumulative DVA balances were less than $1 million as of both March 31, 2018 and December 31, 2017 . (2) Other interest rate exposures include mortgage-related derivatives, interest rate swaps and to-be-announced derivatives. (3) Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. (4) Reflects a reduction in derivative assets of $463 million and a reduction in derivative liabilities of $539 million on our consolidated balance sheets as a result of adopting the LCH variation margin rule change in the first quarter of 2018. |
Hedged Item in Fair Value Hedging Relationship | The following table summarizes the carrying value of our hedged assets and liabilities in fair value hedges and the associated cumulative basis adjustments included in those carrying values as of March 31, 2018: Table 9.2 : Hedged Items in Fair Value Hedging Relationships March 31, 2018 Carrying Amount Assets/(Liabilities) Cumulative Amount of Basis Adjustments Included in the Carrying Amount (Dollars in millions) Total Assets/(Liabilities) Discontinued-Hedging Relationships Line item on our consolidated balance sheets in which the hedged item is included: Investment securities available for sale (1)(2) $ 14,956 $ (113 ) $ 0 Interest-bearing deposits (14,243 ) 351 0 Securitized debt obligations (11,304 ) 228 0 Senior and subordinated notes (27,406 ) 533 372 __________ (1) These amounts include the amortized cost basis of our investment securities designated in hedging relationships for which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. As of March 31, 2018, the amortized cost basis of this portfolio was $10.3 billion , the amount of the designated hedged items was $3.8 billion and the cumulative basis adjustments associated with these hedges was less than $1 million . (2) Carrying value represents amortized cost. |
Offsetting Assets | The following table presents as of March 31, 2018 and December 31, 2017 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 9.3 : 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 March 31, 2018 Derivative assets (1)(2) $ 914 $ (189 ) $ (129 ) $ 596 $ 0 $ 596 As of December 31, 2017 Derivative assets (1) 1,040 (202 ) (73 ) 765 0 765 |
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 March 31, 2018 Derivative liabilities (1)(2) $ 1,303 $ (189 ) $ (612 ) $ 502 $ 0 $ 502 Repurchase agreements (3) 656 0 0 656 (656 ) 0 As of December 31, 2017 Derivative liabilities (1) 1,268 (202 ) (460 ) 606 0 606 Repurchase agreements 576 0 0 576 (576 ) 0 __________ (1) We received cash collateral from derivative counterparties totaling $150 million and $91 million as of March 31, 2018 and December 31, 2017 , respectively. We also received securities from derivative counterparties with a fair value of $1 million as of both March 31, 2018 and December 31, 2017 , which we have the ability to re-pledge. We posted $1.2 billion and $966 million of cash collateral as of March 31, 2018 and December 31, 2017 , respectively. (2) Reflects a reduction in derivative assets of $463 million and a reduction in derivative liabilities of $539 million on our consolidated balance sheets as a result of adopting the LCH variation margin rule change in the first quarter of 2018. (3) Represents customer repurchase agreements that mature the next business day. As of March 31, 2018 , we pledged collateral with a fair value of $670 million under these customer repurchase agreements, which were primarily agency RMBS securities. |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position | Table 9.4 : Effects of Fair Value and Cash Flow Hedge Accounting Three Months Ended March 31, 2018 Net Interest Income (Dollars in millions) Investment Securities Loans, Including Loans Held for Sale Other Deposits Securitized Debt Obligations Senior and Subordinated Notes Total amounts presented in our consolidated statements of income $ 452 $ 6,134 $ 51 $ 539 $ 107 $ 251 Fair value hedging relationships: Interest rate contracts: Interest recognized on derivatives (8 ) 0 0 (2 ) (5 ) 10 Gains (losses) recognized on derivatives 100 0 0 (160 ) (101 ) (357 ) Gains (losses) recognized on hedged items (1) (99 ) 0 0 155 98 325 Net income (expense) recognized on fair value hedges $ (7 ) $ 0 $ 0 $ (7 ) $ (8 ) $ (22 ) Cash flow hedging relationships: (2) Interest rate contracts: Realized gains (losses) reclassified from AOCI into net income $ (2 ) $ 8 $ 0 $ 0 $ 0 $ 0 Foreign exchange contracts: Realized gains reclassified from AOCI into net income 0 0 8 0 0 0 Net income (expense) recognized on cash flow hedges $ (2 ) $ 8 $ 8 $ 0 $ 0 $ 0 _________ (1) Includes amortization of basis adjustments related to discontinued hedges of $10 million for the three months ended March 31, 2018. (2) See “ Note 10—Stockholders’ Equity ” for the effects of cash flow and net investment hedges on AOCI and amounts reclassified to net income, net of tax. (Dollars in millions) Three Months Ended March 31, 2017 Derivatives designated as fair value hedges: Fair value interest rate contracts: Gains (losses) recognized in net income on derivatives $ (45 ) Gains (losses) recognized in net income on hedged items 39 Net fair value hedge ineffectiveness gains (losses) (6 ) Derivatives designated as cash flow hedges: Gains (losses) reclassified from AOCI into net income: Interest rate contracts 37 Foreign exchange contracts 3 Subtotal 40 Gains (losses) recognized in net income due to ineffectiveness: Interest rate contracts (1 ) Net derivative gains (losses) recognized in net income $ 39 |
Gains (Losses) on Free-Standing Derivatives | The net impacts to our consolidated statements of income related to free-standing derivatives are presented below for the three months ended March 31, 2018 and 2017. These gains or losses are recognized in other non-interest income on our consolidated statements of income. Table 9.5 : Gains (Losses) on Free-Standing Derivatives Three Months Ended March 31, (Dollars in millions) 2018 2017 Gains (losses) recognized in other non-interest income: Interest rate contracts covering: Customer accommodation $ 10 $ 10 Other interest rate exposures 12 7 Total interest rate contracts 22 17 Other contracts (20 ) 0 Total $ 2 $ 17 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Schedule of Preferred Stock | The following table summarizes the Company’s preferred stock issued and outstanding as of March 31, 2018 and December 31, 2017 . 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 March 31, 2018 December 31, 2017 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 includes the AOCI impacts from the adoption of accounting standards and the changes in AOCI by component for the three months ended March 31, 2018 and 2017 . See “ Note 1—Summary of Significant Accounting Policies ” for more information. Table 10.2 : Accumulated Other Comprehensive Income (Dollars in millions) Securities Available for Sale Securities Held to Maturity Cash Flow Hedges Foreign (1) Other Total AOCI as of December 31, 2017 $ 17 $ (524 ) $ (281 ) $ (138 ) $ 0 $ (926 ) Cumulative effects from adoption of new accounting standards 3 (113 ) (63 ) 0 (28 ) (201 ) Transfer of securities held to maturity to available for sale (2) (325 ) 407 0 0 0 82 Other comprehensive income (loss) before reclassifications (254 ) 0 (307 ) 7 0 (554 ) Amounts reclassified from AOCI into earnings (6 ) 18 (11 ) 0 (1 ) 0 Net other comprehensive income (loss) (585 ) 425 (318 ) 7 (1 ) (472 ) AOCI as of March 31, 2018 $ (565 ) $ (212 ) $ (662 ) $ (131 ) $ (29 ) $ (1,599 ) (Dollars in millions) Securities Securities Held to Maturity Cash Flow Foreign (1) Other Total AOCI as of December 31, 2016 $ (4 ) $ (621 ) $ (78 ) $ (222 ) $ (24 ) $ (949 ) Other comprehensive income (loss) before reclassifications 36 0 (26 ) 17 7 34 Amounts reclassified from AOCI into earnings 0 23 (40 ) 0 (2 ) (19 ) Net other comprehensive income (loss) 36 23 (66 ) 17 5 15 AOCI as of March 31, 2017 $ 32 $ (598 ) $ (144 ) $ (205 ) $ (19 ) $ (934 ) __________ (1) Includes other comprehensive losses of $60 million and $22 million for the three months ended March 31, 2018 and 2017, respectively, from hedging instruments designated as net investment hedges. (2) In the first quarter of 2018, we made a one-time transfer of held to maturity securities with a carrying value of $9.0 billion to available for sale as a result of our adoption of ASU No. 2017-12. This transfer resulted in an after-tax gain of $82 million ( $107 million pre-tax) to AOCI. |
Reclassifications from AOCI | The following table presents the impacts on net income of amounts reclassified from each component of AOCI for the three months ended March 31, 2018 and 2017 . Table 10.3 : Reclassifications from AOCI Amount Reclassified from AOCI (Dollars in millions) Three Months Ended March 31, AOCI Components Affected Income Statement Line Item 2018 2017 Securities available for sale: Non-interest income $ 8 $ 0 Income tax provision 2 0 Net income 6 0 Securities held to maturity: (1) Interest income (24 ) (36 ) Income tax benefit (6 ) (13 ) Net loss (18 ) (23 ) Cash flow hedges: Interest rate contracts: Interest income 6 58 Foreign exchange contracts: Interest income 8 6 Income from continuing operations before income taxes 14 64 Income tax provision 3 24 Net income 11 40 Other: Non-interest income and non-interest expense 1 2 Net income 1 2 Total reclassifications $ 0 $ 19 __________ (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. |
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 months ended March 31, 2018 and 2017 . Table 10.4 : Other Comprehensive Income (Loss) Three Months Ended March 31, 2018 2017 (Dollars in millions) Before Tax Provision After Tax Before Tax Provision After Tax Other comprehensive income (loss): Net unrealized gains (losses) on securities available for sale $ (771 ) $ (186 ) $ (585 ) $ 46 $ 10 $ 36 Net changes in securities held to maturity 559 134 425 36 13 23 Net unrealized losses on cash flow hedges (418 ) (100 ) (318 ) (104 ) (38 ) (66 ) Foreign currency translation adjustments (1) (12 ) (19 ) 7 4 (13 ) 17 Other (1 ) 0 (1 ) 7 2 5 Other comprehensive income (loss) $ (643 ) $ (171 ) $ (472 ) $ (11 ) $ (26 ) $ 15 __________ (1) Includes the impact from hedging instruments designated as net investment hedges. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, (Dollars and shares in millions, except per share data) 2018 2017 Income from continuing operations, net of tax $ 1,343 $ 795 Income from discontinued operations, net of tax 3 15 Net income 1,346 810 Dividends and undistributed earnings allocated to participating securities (10 ) (5 ) Preferred stock dividends (52 ) (53 ) Net income available to common stockholders $ 1,284 $ 752 Total weighted-average basic shares outstanding 486.9 482.3 Effect of dilutive securities: Stock options 2.0 2.9 Other contingently issuable shares 1.2 1.4 Warrants (1) 0.7 1.3 Total effect of dilutive securities 3.9 5.6 Total weighted-average diluted shares outstanding 490.8 487.9 Basic earnings per common share: Net income from continuing operations $ 2.63 $ 1.53 Income from discontinued operations 0.01 0.03 Net income per basic common share $ 2.64 $ 1.56 Diluted earnings per common share: (2) Net income from continuing operations $ 2.61 $ 1.51 Income from discontinued operations 0.01 0.03 Net income per diluted common share $ 2.62 $ 1.54 __________ (1) Represents warrants issued as part of the U.S. Department of Treasury’s Troubled Assets Relief Program (“TARP”). There were 1.2 million and 1.5 million warrants to purchase common stock outstanding as of March 31, 2018 and 2017 , respectively. (2) Excluded from the computation of diluted earnings per share were 107 thousand shares related to awards for the three months ended March 31, 2018 and 222 thousand shares related to options with an exercise price of $86.34 for the three months ended March 31, 2017, because their inclusion would be anti-dilutive. |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017 . During the three months ended March 31, 2018 , we had minimal movements between Levels 1 and 2. Table 12.1 : Assets and Liabilities Measured at Fair Value on a Recurring Basis March 31, 2018 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 $ 5,251 $ 0 $ 0 $ — $ 5,251 RMBS 0 35,153 614 — 35,767 CMBS 0 4,447 13 — 4,460 Other ABS 0 330 0 — 330 Other securities 205 1,137 5 — 1,347 Total securities available for sale 5,456 41,067 632 — 47,155 Other assets: Derivative assets (2) 0 878 36 (318 ) 596 Other (3) 300 0 176 — 476 Total assets $ 5,756 $ 41,945 $ 844 $ (318 ) $ 48,227 Liabilities: Other liabilities: Derivative liabilities (2) $ 0 $ 1,258 $ 45 $ (801 ) $ 502 Total liabilities $ 0 $ 1,258 $ 45 $ (801 ) $ 502 December 31, 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 $ 5,171 $ 0 $ 0 $ — $ 5,171 RMBS 0 27,178 614 — 27,792 CMBS 0 3,161 14 — 3,175 Other ABS 0 512 0 — 512 Other securities 320 680 5 — 1,005 Total securities available for sale 5,491 31,531 633 — 37,655 Other assets: Derivative assets (2) 1 1,002 37 (275 ) 765 Other (3) 281 0 264 — 545 Total assets $ 5,773 $ 32,533 $ 934 $ (275 ) $ 38,965 Liabilities: Other liabilities: Derivative liabilities (2) $ 1 $ 1,243 $ 24 $ (662 ) $ 606 Total liabilities $ 1 $ 1,243 $ 24 $ (662 ) $ 606 __________ (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 Instruments and Hedging Activities ” for additional information. (2) Does not reflect $2 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of both March 31, 2018 and December 31, 2017 . 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) As of March 31, 2018 , other includes retained interests in securitizations of $176 million , deferred compensation plan assets of $291 million and equity securities of $9 million . As of December 31, 2017 , other includes consumer MSRs of $92 million , retained interests in securitizations of $172 million and deferred compensation plan assets of $281 million . |
Schedule of Level 3 Inputs Reconciliation | 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 months ended March 31, 2018 and 2017 . When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. Generally, transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these financial instruments as evidenced by wider pricing variations among pricing vendors and 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. Table 12.2 : Level 3 Recurring Fair Value Rollforward Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2018 Total Gains (Losses) (Realized/Unrealized) Net Unrealized (1) (Dollars in millions) Balance, January 1, 2018 Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 Transfers Out of Level 3 Balance, Securities available for sale: RMBS $ 614 $ 9 $ (2 ) $ 0 $ 0 $ 0 $ (21 ) $ 61 $ (47 ) $ 614 $ 9 CMBS 14 0 0 0 0 0 (1 ) 0 0 13 0 Other securities 5 0 0 0 0 0 0 0 0 5 0 Total securities available for sale 633 9 (2 ) 0 0 0 (22 ) 61 (47 ) 632 9 Other assets: Consumer MSRs 92 3 0 0 (97 ) 2 0 0 0 0 0 Retained interest in securitizations 172 4 0 0 0 0 0 0 0 176 4 Net derivative assets (liabilities) (2) 13 (22 ) 0 0 0 1 (1 ) 0 0 (9 ) (22 ) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2017 Total Gains (Losses) (Realized/Unrealized) Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of March 31, 2017 (1) (Dollars in millions) Balance, Included in Net Income (1) Included in OCI Purchases Sales Issuances Settlements Transfers Into Level 3 Transfers Out of Level 3 Balance, Securities available for sale: RMBS $ 518 $ 9 $ 8 $ 0 $ 0 $ 0 $ (22 ) $ 53 $ (117 ) $ 449 $ 0 CMBS 51 0 0 60 0 0 (1 ) 0 (32 ) 78 9 Other securities 9 0 0 0 0 0 0 0 0 9 0 Total securities available for sale 578 9 8 60 0 0 (23 ) 53 (149 ) 536 9 Other assets: Consumer MSRs 80 1 0 0 0 7 (2 ) 0 0 86 1 Retained interest in securitizations 201 (6 ) 0 0 0 0 0 0 0 195 (6 ) Net derivative assets (liabilities) (2) 18 0 0 0 0 12 (7 ) 0 (1 ) 22 0 __________ (1) Gains (losses) related to Level 3 securities available for sale, consumer MSRs, retained interests in securitizations, and derivative assets and liabilities are included as a component of non-interest income in our consolidated statements of income. (2) Includes derivative assets and liabilities of $36 million and $45 million , respectively, as of March 31, 2018 and $53 million and $31 million , respectively, as of March 31, 2017 . |
Schedule of Assets and 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 vendor pricing services to obtain fair value for our securities. Several of our vendor pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other vendor 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 March 31, 2018 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Securities available for sale: RMBS $ 614 Discounted cash flows (vendor pricing) Yield 2-10% 5% CMBS 13 Discounted cash flows (vendor pricing) Yield 3% 3% Other securities 5 Discounted cash flows Yield 3% 3% Other assets: Retained interests in securitization (1) 176 Discounted cash flows Life of receivables (months) 3-61 N/A Net derivative assets (liabilities) (9 ) Discounted cash flows Swap rates 3% 3% Quantitative Information about Level 3 Fair Value Measurements (Dollars in millions) Fair Value at December 31, 2017 Significant Valuation Techniques Significant Unobservable Inputs Range Weighted Average Securities available for sale: RMBS $ 614 Discounted cash flows (vendor pricing) Yield 2-9% 5% CMBS 14 Discounted cash flows (vendor pricing) Yield 3% 3% Other securities 5 Discounted cash flows Yield 2% 2% Other assets: Consumer MSRs 92 Discounted cash flows Total prepayment rate 7-30% 16% Retained interests in securitization (1) 172 Discounted cash flows Life of receivables (months) Voluntary prepayment rate 6-79 N/A Net derivative assets (liabilities) 13 Discounted cash flows Swap rates 2% 2% __________ (1) 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 March 31, 2018 and December 31, 2017 , and for which a nonrecurring fair value measurement was recorded during the three and twelve months then ended: Table 12.4 : Nonrecurring Fair Value Measurements March 31, 2018 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 98 $ 98 Loans held for sale 166 0 166 Other assets (1) 0 51 51 Total $ 166 $ 149 $ 315 December 31, 2017 Estimated Fair Value Hierarchy Total (Dollars in millions) Level 2 Level 3 Loans held for investment $ 0 $ 182 $ 182 Loans held for sale 177 1 178 Other assets (1) 0 35 35 Total $ 177 $ 218 $ 395 __________ (1) As of March 31, 2018, other assets included equity investments accounted for under measurement alternative of $17 million , foreclosed property and repossessed assets of $25 million and long-lived assets held for sale of $9 million . As of December 31, 2017, other assets included foreclosed property and repossessed assets of $17 million and long-lived assets held for sale of $18 million . |
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 March 31, 2018 and 2017 . Table 12.5 : Nonrecurring Fair Value Measurements Included in Earnings Total Gains (Losses) Three Months Ended March 31, (Dollars in millions) 2018 2017 Loans held for investment $ (76 ) $ (38 ) Loans held for sale 0 0 Other assets (1) (11 ) (5 ) Total $ (87 ) $ (43 ) __________ (1) Other assets include fair value adjustments related to equity investments accounted for under measurement alternative, 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 March 31, 2018 and December 31, 2017 . Table 12.6 : Fair Value of Financial Instruments March 31, 2018 Carrying Value Estimated Fair Value Estimated Fair Value Hierarchy (Dollars in millions) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 14,008 $ 14,008 $ 4,220 $ 9,788 $ 0 Restricted cash for securitization investors 309 309 309 0 0 Securities held to maturity 23,075 22,841 200 22,599 42 Net loans held for investment 240,689 245,852 0 0 245,852 Loans held for sale 1,498 1,512 0 1,512 0 Interest receivable 1,496 1,496 0 1,496 0 Other investments (1) 1,341 1,341 0 1,341 0 Financial liabilities: Deposits with defined maturities 30,706 30,679 0 30,679 0 Securitized debt obligations 18,665 18,752 0 18,752 0 Senior and subordinated notes 31,051 31,469 0 31,469 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 656 656 0 656 0 Other borrowings (2) 274 274 0 274 0 Interest payable 353 353 0 353 0 December 31, 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 $ 14,040 $ 14,040 $ 4,458 $ 9,582 $ 0 Restricted cash for securitization investors 312 312 312 0 0 Securities held to maturity 28,984 29,437 200 29,217 20 Net loans held for investment 246,971 251,468 0 0 251,468 Loans held for sale 971 952 0 949 3 Interest receivable 1,536 1,536 0 1,536 0 Other investments (1) 1,689 1,689 0 1,680 9 Financial liabilities: Deposits 243,702 243,732 26,404 217,328 0 Securitized debt obligations 20,010 20,122 0 20,122 0 Senior and subordinated notes 30,755 31,392 0 31,392 0 Federal funds purchased and securities loaned or sold under agreements to repurchase 576 576 0 576 0 Other borrowings (2) 8,892 8,892 0 8,892 0 Interest payable 413 413 0 413 0 __________ (1) Other investments as of March 31, 2018 include FHLB and Federal Reserve stock. Other investments as of December 31, 2017 include FHLB and Federal Reserve stock, as well as cost method investments. These investments are included in other assets on our consolidated balance sheets. (2) Other borrowings excludes capital lease obligations. |
Business Segments and Revenue33
Business Segments and Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following tables present our business segment results for the three months ended March 31, 2018 and 2017 , selected balance sheet data as of March 31, 2018 and 2017 , and a reconciliation of our total business segment results to our reported consolidated net income from continuing operations, loans held for investment and deposits. Table 13.1 : Segment Results and Reconciliation Three Months Ended March 31, 2018 (Dollars in millions) Credit Consumer Commercial (1)(2) Other (1)(2) Consolidated Net interest income $ 3,558 $ 1,615 $ 536 $ 9 $ 5,718 Non-interest income 857 174 187 (27 ) 1,191 Total net revenue 4,415 1,789 723 (18 ) 6,909 Provision (benefit) for credit losses 1,456 233 (14 ) (1 ) 1,674 Non-interest expense 2,039 1,000 403 131 3,573 Income (loss) from continuing operations before income taxes 920 556 334 (148 ) 1,662 Income tax provision (benefit) 213 130 78 (102 ) 319 Income (loss) from continuing operations, net of tax $ 707 $ 426 $ 256 $ (46 ) $ 1,343 Loans held for investment $ 107,576 $ 74,674 $ 65,953 $ 53 $ 248,256 Deposits 0 193,073 34,449 23,325 250,847 Three Months Ended March 31, 2017 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Net interest income $ 3,346 $ 1,517 $ 566 $ 45 $ 5,474 Non-interest income 738 195 158 (30 ) 1,061 Total net revenue 4,084 1,712 724 15 6,535 Provision (benefit) for credit losses 1,717 279 (2 ) (2 ) 1,992 Non-interest expense 1,929 1,042 391 72 3,434 Income (loss) from continuing operations before income taxes 438 391 335 (55 ) 1,109 Income tax provision (benefit) 167 143 122 (118 ) 314 Income from continuing operations, net of tax $ 271 $ 248 $ 213 $ 63 $ 795 Loans held for investment $ 99,213 $ 73,982 $ 67,320 $ 73 $ 240,588 Deposits 0 188,216 33,735 19,231 241,182 __________ (1) Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate (21% and 35% for the first quarters of 2018 and 2017, respectively) and state taxes where applicable, with offsetting reductions to the Other category. (2) In the first quarter of 2018, we made a change in how revenue is measured in our Commercial Banking business to include the tax benefits of losses on certain tax-advantaged investments. These tax benefits are included in revenue on a taxable-equivalent basis within our Commercial Banking business, with an offsetting reduction to the Other category. In addition, all revenue presented on a taxable-equivalent basis in our Commercial Banking business was impacted by the reduction of the federal tax rate set forth in the Tax Act. The net impact of the measurement change and the reduction of the federal tax rate was a decrease of $28 million in revenue in our Commercial Banking business in the first quarter of 2018, with an offsetting impact to the Other category. |
Disaggregation of Revenue | The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three months ended March 31, 2018 . Table 13.2: Revenue from Contracts with Customers and Reconciliation to Segments Results Three Months Ended March 31, 2018 (Dollars in millions) Credit Consumer Commercial (1) Other (1) Consolidated Contract revenue: Interchange fees, net (2) $ 594 $ 42 $ 7 $ 0 $ 643 Service charges and other customer-related fees 2 127 32 0 161 Total contract revenue 596 169 39 0 804 Revenue from other sources 261 5 148 (27 ) 387 Total non-interest income $ 857 $ 174 $ 187 $ (27 ) $ 1,191 __________ (1) Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reclassifications to the Other category. (2) Interchange fees is presented net of customer reward expenses. |
Commitments, Contingencies, G34
Commitments, Contingencies, Guarantees, and Others (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017 . 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) March 31, December 31, March 31, December 31, Credit card lines $ 334,176 $ 351,481 N/A N/A Other loan commitments (1) 32,231 31,840 $ 77 $ 84 Standby letters of credit and commercial letters of credit (2) 1,934 2,046 40 43 Total unfunded lending commitments $ 368,341 $ 385,367 $ 117 $ 127 __________ (1) Includes $1.1 billion and $1.0 billion of advised lines of credit as of March 31, 2018 and December 31, 2017 , respectively. |
Summary of Significant Accoun35
Summary of Significant Accounting Policies Recently issued but not yet adopted ASU (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Held-to-maturity Securities | $ 23,075 | $ 28,984 | ||
Accumulated other comprehensive loss | (1,599) | $ (926) | $ (934) | $ (949) |
Accounting Standards Update 2018-2 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Tax Cuts and Jobs Act of 2017, reclassification from AOCI to retained earnings, tax effect | 173 | |||
Accounting Standards Update 2017-12 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Held-to-maturity Securities | 9,000 | |||
Accumulated other comprehensive loss | $ 107 |
Summary of Significant Accoun36
Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Segments (Details) | 3 Months Ended |
Mar. 31, 2018Segment | |
Accounting Policies [Abstract] | |
Number of Operating Segments | 3 |
Business Developments and Dis37
Business Developments and Discontinued Operations - Restructuring Activities (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Mergers, Acquisitions, Restructuring and Dispositions Disclosures [Abstract] | ||
Restructuring Charges | $ 19 | $ 0 |
Restructuring Reserve | 69 | |
Deposit Held For Sale | $ 1,600 |
Business Developments and Dis38
Business Developments and Discontinued Operations - Discontinued Operations (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Mergers, Acquisitions, Restructuring and Dispositions Disclosures [Abstract] | ||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 3 | $ 15 |
Investment Securities - Schedul
Investment Securities - Schedule of Investment Portfolio (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Investments, Debt and Equity Securities [Abstract] | ||
Securities available for sale | $ 47,155 | $ 37,655 |
Securities held to maturity | 23,075 | 28,984 |
Total investments securities | $ 70,230 | $ 66,639 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) $ in Millions | Mar. 31, 2018USD ($)Security | Dec. 31, 2017USD ($) | Mar. 31, 2017USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | $ 145 | $ 206 | |
Number of sale securities exceeding amortized cost over fair value | Security | 1,320 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (1,204) | $ (458) | |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | $ (537) | (373) | |
Securities held to maturity | Security | 340 | ||
Fair value of securities pledged | $ 4,400 | 2,800 | |
Carrying value of securities pledged | 4,800 | 5,700 | |
Fair value of securities pledged, accepted | 1 | 1 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (462) | (182) | |
Securities held to maturity | $ (23,075) | $ (28,984) | |
Investment Securities Portfolio | US Treasury and Government | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Percentage of portfolio | 95.00% | 95.00% | |
Residential Mortgage Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (1,077) | $ (403) | |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | (487) | (336) | |
Non-Agency | Residential Mortgage Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1) | (1) | |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | (1) | $ (1) | |
Accounting Standards Update 2017-12 | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities held to maturity | $ (9,000) |
Investment Securities - Sched41
Investment Securities - Schedule of Available-for-Sale Securities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Investment securities available for sale: | ||
Total Amortized Cost | $ 47,899 | $ 37,628 |
Gross Unrealized Gains | 460 | 485 |
Gross Unrealized Losses | (1,204) | (458) |
Securities available for sale | 47,155 | 37,655 |
U.S. Treasury securities | ||
Investment securities available for sale: | ||
Total Amortized Cost | 5,246 | 5,168 |
Gross Unrealized Gains | 24 | 11 |
Gross Unrealized Losses | (19) | (8) |
Securities available for sale | 5,251 | 5,171 |
RMBS | ||
Investment securities available for sale: | ||
Total Amortized Cost | 36,418 | 27,735 |
Gross Unrealized Gains | 426 | 460 |
Gross Unrealized Losses | (1,077) | (403) |
Securities available for sale | 35,767 | 27,792 |
RMBS | Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 34,770 | 26,013 |
Gross Unrealized Gains | 47 | 67 |
Gross Unrealized Losses | (1,076) | (402) |
Securities available for sale | 33,741 | 25,678 |
RMBS | Non-Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 1,648 | 1,722 |
Gross Unrealized Gains | 379 | 393 |
Gross Unrealized Losses | (1) | (1) |
Securities available for sale | 2,026 | 2,114 |
Non-credit OTTI losses related to non-agency RMBS | 1 | 1 |
CMBS | Agency | ||
Investment securities available for sale: | ||
Total Amortized Cost | 4,553 | 3,209 |
Gross Unrealized Gains | 6 | 10 |
Gross Unrealized Losses | (99) | (44) |
Securities available for sale | 4,460 | 3,175 |
Other ABS | ||
Investment securities available for sale: | ||
Total Amortized Cost | 332 | 513 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (2) | (1) |
Securities available for sale | 330 | 512 |
Other securities | ||
Investment securities available for sale: | ||
Total Amortized Cost | 1,350 | 1,003 |
Gross Unrealized Gains | 4 | 4 |
Gross Unrealized Losses | (7) | (2) |
Securities available for sale | $ 1,347 | $ 1,005 |
Investment Securities - Investm
Investment Securities - Investment Securities Held to Maturity (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 23,355 | $ 29,823 |
Unrealized Losses Recorded in AOCI | (280) | (839) |
Carrying Value | 23,075 | 28,984 |
Gross Unrealized Gains | 228 | 635 |
Gross Unrealized Losses | (462) | (182) |
Fair Value | 22,841 | 29,437 |
U.S. Treasury securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 200 | 200 |
Unrealized Losses Recorded in AOCI | 0 | 0 |
Carrying Value | 200 | 200 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 200 | 200 |
Agency | RMBS | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 20,203 | 25,741 |
Unrealized Losses Recorded in AOCI | (266) | (761) |
Carrying Value | 19,937 | 24,980 |
Gross Unrealized Gains | 219 | 565 |
Gross Unrealized Losses | (384) | (150) |
Fair Value | 19,772 | 25,395 |
Agency | CMBS | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 2,952 | 3,882 |
Unrealized Losses Recorded in AOCI | (14) | (78) |
Carrying Value | 2,938 | 3,804 |
Gross Unrealized Gains | 9 | 70 |
Gross Unrealized Losses | (78) | (32) |
Fair Value | 2,869 | $ 3,842 |
Accounting Standards Update 2017-12 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Carrying Value | 9,000 | |
AOCI associated with transferred held to maturity securities, pretax | 535 | |
AOCI associated with transferred held to maturity securities, after tax | $ 407 |
Investment Securities - Sched43
Investment Securities - Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 24,303 | $ 11,614 |
Less than 12 Months, Gross Unrealized Losses | (667) | (85) |
12 Months or Longer, Fair Value | 13,304 | 14,516 |
12 Months or Longer, Gross Unrealized Losses | (537) | (373) |
Total Fair Value | 37,607 | 26,130 |
Total Gross Unrealized Losses | (1,204) | (458) |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 2,456 | 2,031 |
Less than 12 Months, Gross Unrealized Losses | (19) | (8) |
12 Months or Longer, Fair Value | 0 | 0 |
12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 2,456 | 2,031 |
Total Gross Unrealized Losses | (19) | (8) |
RMBS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 18,440 | 8,202 |
Less than 12 Months, Gross Unrealized Losses | (590) | (67) |
12 Months or Longer, Fair Value | 12,038 | 13,185 |
12 Months or Longer, Gross Unrealized Losses | (487) | (336) |
Total Fair Value | 30,478 | 21,387 |
Total Gross Unrealized Losses | (1,077) | (403) |
RMBS | Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 18,430 | 8,192 |
Less than 12 Months, Gross Unrealized Losses | (590) | (67) |
12 Months or Longer, Fair Value | 12,028 | 13,175 |
12 Months or Longer, Gross Unrealized Losses | (486) | (335) |
Total Fair Value | 30,458 | 21,367 |
Total Gross Unrealized Losses | (1,076) | (402) |
RMBS | Non-Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 10 | 10 |
Less than 12 Months, Gross Unrealized Losses | 0 | 0 |
12 Months or Longer, Fair Value | 10 | 10 |
12 Months or Longer, Gross Unrealized Losses | (1) | (1) |
Total Fair Value | 20 | 20 |
Total Gross Unrealized Losses | (1) | (1) |
CMBS | Agency | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 2,462 | 880 |
Less than 12 Months, Gross Unrealized Losses | (50) | (8) |
12 Months or Longer, Fair Value | 1,179 | 1,236 |
12 Months or Longer, Gross Unrealized Losses | (49) | (36) |
Total Fair Value | 3,641 | 2,116 |
Total Gross Unrealized Losses | (99) | (44) |
Other ABS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 129 | 130 |
Less than 12 Months, Gross Unrealized Losses | (1) | 0 |
12 Months or Longer, Fair Value | 87 | 95 |
12 Months or Longer, Gross Unrealized Losses | (1) | (1) |
Total Fair Value | 216 | 225 |
Total Gross Unrealized Losses | (2) | (1) |
Other securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 816 | 371 |
Less than 12 Months, Gross Unrealized Losses | (7) | (2) |
12 Months or Longer, Fair Value | 0 | 0 |
12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Total Fair Value | 816 | 371 |
Total Gross Unrealized Losses | $ (7) | $ (2) |
Investment Securities - Sched44
Investment Securities - Schedule of Contractual Maturities and Weighted-Average Yields of Securities (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Securities available for sale | ||
Due in 1 year or less | $ 411 | |
Due after 1 year through 5 years | 3,998 | |
Due after 5 years through 10 years | 5,929 | |
Due 10 Years | 36,817 | |
Available-for-sale Securities | 47,155 | $ 37,655 |
Amortized cost of securities available for sale | ||
Due in 1 year or less | 412 | |
Due after 1 year through 5 years | 4,036 | |
Due after 5 years through 10 years | 5,932 | |
Due 10 Years | 37,519 | |
Total Amortized Cost | $ 47,899 | 37,628 |
Weighted average yield for securities available for sale | ||
Due in 1 Year or Less | 1.05% | |
Due 1 Year through 5 Years | 2.04% | |
Due 5 Years through 10 Years | 1.88% | |
Due 10 Years | 2.80% | |
Total weighted average yield | 2.61% | |
Carrying value of securities held to maturity | ||
Due in 1 year or less | $ 200 | |
Due 1 year through 5 years | 0 | |
Due after 5 years through 10 years | 345 | |
Due after 10 years | 22,530 | |
Carrying Value | 23,075 | 28,984 |
Fair value of securities held to maturity | ||
Due in 1 Year or Less | 200 | |
Due 1 Year through 5 Years | 0 | |
Due 5 Years through 10 Years | 346 | |
Due 10 Years | 22,295 | |
Fair Value | $ 22,841 | 29,437 |
Weighted average yield for securities held to maturity | ||
Due in 1 Year or Less | 1.11% | |
Due 1 Year through 5 Years | 0.00% | |
Due 5 Years through 10 Years | 3.06% | |
Due 10 Years | 3.05% | |
Total weighted average yield | 3.04% | |
U.S. Treasury securities | ||
Carrying value of securities held to maturity | ||
Due in 1 year or less | $ 200 | |
Due 1 year through 5 years | 0 | |
Due after 5 years through 10 years | 0 | |
Due after 10 years | 0 | |
Carrying Value | 200 | 200 |
Fair value of securities held to maturity | ||
Fair Value | 200 | 200 |
U.S. Treasury securities | ||
Securities available for sale | ||
Due in 1 year or less | 199 | |
Due after 1 year through 5 years | 1,226 | |
Due after 5 years through 10 years | 3,826 | |
Due 10 Years | 0 | |
Available-for-sale Securities | 5,251 | 5,171 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 5,246 | 5,168 |
RMBS | ||
Securities available for sale | ||
Due in 1 year or less | 5 | |
Due after 1 year through 5 years | 33 | |
Due after 5 years through 10 years | 594 | |
Due 10 Years | 35,135 | |
Available-for-sale Securities | 35,767 | 27,792 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | $ 36,418 | 27,735 |
Weighted average yield for securities held to maturity | ||
Weighted-average expected life | 6 years 6 months 6 days | |
RMBS | Agency | ||
Securities available for sale | ||
Due in 1 year or less | $ 5 | |
Due after 1 year through 5 years | 33 | |
Due after 5 years through 10 years | 594 | |
Due 10 Years | 33,109 | |
Available-for-sale Securities | 33,741 | 25,678 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 34,770 | 26,013 |
Carrying value of securities held to maturity | ||
Due in 1 year or less | 0 | |
Due 1 year through 5 years | 0 | |
Due after 5 years through 10 years | 56 | |
Due after 10 years | 19,881 | |
Carrying Value | 19,937 | 24,980 |
Fair value of securities held to maturity | ||
Fair Value | 19,772 | 25,395 |
RMBS | Non-Agency | ||
Securities available for sale | ||
Due in 1 year or less | 0 | |
Due after 1 year through 5 years | 0 | |
Due after 5 years through 10 years | 0 | |
Due 10 Years | 2,026 | |
Available-for-sale Securities | 2,026 | 2,114 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | $ 1,648 | 1,722 |
CMBS | ||
Weighted average yield for securities held to maturity | ||
Weighted-average expected life | 5 years 7 months 6 days | |
CMBS | Agency | ||
Securities available for sale | ||
Due in 1 year or less | $ 0 | |
Due after 1 year through 5 years | 1,842 | |
Due after 5 years through 10 years | 967 | |
Due 10 Years | 1,651 | |
Available-for-sale Securities | 4,460 | 3,175 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | 4,553 | 3,209 |
Carrying value of securities held to maturity | ||
Due in 1 year or less | 0 | |
Due 1 year through 5 years | 0 | |
Due after 5 years through 10 years | 289 | |
Due after 10 years | 2,649 | |
Carrying Value | 2,938 | 3,804 |
Fair value of securities held to maturity | ||
Fair Value | 2,869 | 3,842 |
Other ABS | ||
Securities available for sale | ||
Due in 1 year or less | 0 | |
Due after 1 year through 5 years | 301 | |
Due after 5 years through 10 years | 0 | |
Due 10 Years | 29 | |
Available-for-sale Securities | 330 | 512 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | $ 332 | 513 |
Weighted average yield for securities held to maturity | ||
Weighted-average expected life | 1 year 2 months 6 days | |
Other securities | ||
Securities available for sale | ||
Due in 1 year or less | $ 207 | |
Due after 1 year through 5 years | 596 | |
Due after 5 years through 10 years | 542 | |
Due 10 Years | 2 | |
Available-for-sale Securities | 1,347 | 1,005 |
Amortized cost of securities available for sale | ||
Total Amortized Cost | $ 1,350 | $ 1,003 |
Investment Securities - Sched45
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Realized gains (losses): | ||
Gross realized gains | $ 8 | $ 5 |
Gross realized losses | 0 | (5) |
Net securities gains (losses) | 8 | 0 |
Proceeds from sales | $ 1,058 | $ 2,888 |
Investment Securities - Sched46
Investment Securities - Schedule of Outstanding Contractual Balance and Carrying Value of Acquired Credit-Impaired Debt Securities (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Outstanding Balance and Carrying Value of Acquired Securities | ||
Outstanding balance | $ 2,039 | $ 2,131 |
Carrying value | $ 1,772 | $ 1,843 |
Investment Securities - Sched47
Investment Securities - Schedule of Changes in Accretable Yield of Acquired Securities (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Changes in Accretable Yield of Acquired Securities [Roll Forward] | |
Accretable yield beginning balance | $ 826 |
Accretion recognized in earnings | (39) |
Reduction due to payoffs, disposals, transfers and other | (1) |
Net reclassifications from (to) nonaccretable difference | 8 |
Accretable yield ending balance | $ 794 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans held for sale, at lower of cost or fair value | $ 1,498 | $ 971 |
Mortgage loans in process of foreclosure | 94 | 149 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 311 | 241 |
Performing | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Troubled debt restructurings included in impaired loans | 2,100 | 2,200 |
Home loan | Other Assets | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Real estate acquired through foreclosure | 28 | 39 |
Consumer Portfolio Segment [Member] | Performing | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Troubled debt restructurings included in impaired loans | 1,300 | 1,300 |
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 | $ 524 | 574 |
Consumer Home Loan [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Threshold Period Past Due for Entering Foreclosure Process Status of Financing Receivables | 120 days | |
Federal Home Loan banks [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans Pledged as Collateral | $ 31,600 | 27,300 |
Line of Credit Facility, Remaining Borrowing Capacity | $ 23,600 | $ 21,000 |
Loans - Loan Portfolio Composit
Loans - Loan Portfolio Composition and Aging Analysis (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | $ 231,090 | $ 234,834 | |
Past due | 7,231 | 8,864 | |
Loans held for investment | $ 248,256 | $ 254,473 | $ 240,588 |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Financing Receivable, Percent Current | 93.09% | 92.29% | |
Total Delinquent Loans (as percent) | 2.91% | 3.48% | |
Total Loans (as percent) | 100.00% | 100.00% | |
Loans and Leases Receivable, Deferred Income | $ 796 | $ 773 | |
Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 103,713 | 110,182 | |
Past due | 3,863 | 4,578 | |
Loans held for investment | 107,576 | 114,762 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 61,990 | 60,775 | |
Past due | 3,188 | 4,010 | |
Loans held for investment | 74,674 | 75,078 | |
Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 51,763 | 50,151 | |
Past due | 3,048 | 3,840 | |
Loans held for investment | 54,811 | 53,991 | |
Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 7,056 | 7,235 | |
Past due | 94 | 123 | |
Loans held for investment | 16,630 | 17,633 | |
Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 3,171 | 3,389 | |
Past due | 46 | 47 | |
Loans held for investment | 3,233 | 3,454 | |
Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 65,337 | 63,823 | |
Past due | 177 | 272 | |
Loans held for investment | 65,953 | 64,575 | |
Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 64,957 | 63,430 | |
Past due | 172 | 265 | |
Loans held for investment | 65,568 | 64,175 | |
Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 27,311 | 26,018 | |
Past due | 25 | 107 | |
Loans held for investment | 27,360 | 26,150 | |
Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 37,646 | 37,412 | |
Past due | 147 | 158 | |
Loans held for investment | 38,208 | 38,025 | |
Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 380 | 393 | |
Past due | 5 | 7 | |
Loans held for investment | 385 | 400 | |
Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 50 | 54 | |
Past due | 3 | 4 | |
Loans held for investment | 53 | 58 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | $ 9,935 | $ 10,775 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Loans (as percent) | 4.00% | 4.23% | |
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 | 9,496 | 10,293 | |
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 | 9,480 | 10,275 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 16 | 18 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 439 | 480 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 439 | 480 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 24 | 25 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Loans held for investment | 415 | 455 | |
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 | $ 3,262 | $ 3,945 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Delinquent Loans (as percent) | 1.31% | 1.55% | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 1,095 | $ 1,355 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2,142 | 2,544 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2,088 | 2,483 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 33 | 37 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 21 | 24 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 24 | 44 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 23 | 42 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Commercial and multifamily real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 5 | 41 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 18 | 1 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1 | 2 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1 | 2 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 1,608 | $ 2,166 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Delinquent Loans (as percent) | 0.65% | 0.85% | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 819 | $ 996 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 786 | 1,081 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 764 | 1,060 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home loan | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 13 | 16 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Retail banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 9 | 5 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2 | 88 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2 | 87 | |
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 | 17 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 2 | 70 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Banking | Small-ticket commercial real estate | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 0 | 1 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1 | 1 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | $ 2,361 | $ 2,753 | |
Financing Receivable, Recorded Investment, Aging, Percent of Total Loan [Abstract] | |||
Total Delinquent Loans (as percent) | 0.95% | 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 | $ 1,949 | $ 2,227 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 260 | 385 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Auto | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 196 | 297 | |
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 | 48 | 70 | |
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 | 16 | 18 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 151 | 140 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | Total commercial lending | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 147 | 136 | |
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 | 20 | 49 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Banking | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 127 | 87 | |
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 | 4 | 4 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Past due | 1 | 1 | |
Geographic Distribution, Domestic [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 95,014 | 101,072 | |
Past due | 3,521 | 4,219 | |
Loans held for investment | 98,535 | 105,293 | |
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 | 966 | 1,211 | |
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 | 740 | 915 | |
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 | 1,815 | 2,093 | |
Geographic Distribution, Foreign [Member] | Credit Card Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Current | 8,699 | 9,110 | |
Past due | 342 | 359 | |
Loans held for investment | 9,041 | 9,469 | |
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 | 129 | 144 | |
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 | 79 | 81 | |
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 | $ 134 | $ 134 |
Loans - 90+ Day Delinquent Loan
Loans - 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 1,961 | $ 2,233 |
Nonperforming Loans | $ 788 | $ 899 |
Percent 90 days past due and still accruing | 0.79% | 0.88% |
Financing Receivable, Nonaccrual, Percent Past Due | 0.32% | 0.35% |
Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 1,944 | $ 2,221 |
Nonperforming Loans | 23 | 24 |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Domestic [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 1,815 | 2,093 |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Foreign [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 129 | 128 |
Nonperforming Loans | 23 | 24 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | $ 452 | $ 587 |
Financing Receivable, Nonaccrual, Percent Past Due | 0.61% | 0.78% |
Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | $ 275 | $ 376 |
Financing Receivable, Nonaccrual, Percent Past Due | 0.50% | 0.70% |
Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | $ 143 | $ 176 |
Financing Receivable, Nonaccrual, Percent Past Due | 0.86% | 1.00% |
Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 0 | $ 0 |
Nonperforming Loans | $ 34 | $ 35 |
Financing Receivable, Nonaccrual, Percent Past Due | 1.04% | 1.00% |
Commercial Banking | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | $ 17 | $ 12 |
Nonperforming Loans | 309 | 284 |
Commercial Banking | Total commercial lending | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 17 | 12 |
Nonperforming Loans | 303 | 277 |
Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 16 | 12 |
Nonperforming Loans | 4 | 38 |
Commercial Banking | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 1 | 0 |
Nonperforming Loans | 299 | 239 |
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 | 6 | 7 |
Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Loans | $ 4 | $ 4 |
Loans - Credit Card_ Risk Profi
Loans - Credit Card: Risk Profile by Geographic Region and Delinquency Status (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 248,256 | $ 254,473 | $ 240,588 |
Credit Card Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 107,576 | $ 114,762 | |
Percentage of portfolio | 100.00% | 100.00% | |
Credit Card Portfolio Segment [Member] | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 10,799 | $ 11,475 | |
Percentage of portfolio | 10.00% | 10.00% | |
Credit Card Portfolio Segment [Member] | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,453 | $ 7,847 | |
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 | $ 6,839 | $ 7,389 | |
Percentage of portfolio | 6.40% | 6.40% | |
Credit Card Portfolio Segment [Member] | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,421 | $ 6,790 | |
Percentage of portfolio | 6.00% | 5.90% | |
Credit Card Portfolio Segment [Member] | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,399 | $ 4,734 | |
Percentage of portfolio | 4.10% | 4.10% | |
Credit Card Portfolio Segment [Member] | Pennsylvania | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,207 | $ 4,550 | |
Percentage of portfolio | 3.90% | 4.00% | |
Credit Card Portfolio Segment [Member] | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,616 | $ 3,929 | |
Percentage of portfolio | 3.40% | 3.40% | |
Credit Card Portfolio Segment [Member] | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,361 | $ 3,621 | |
Percentage of portfolio | 3.10% | 3.20% | |
Credit Card Portfolio Segment [Member] | Michigan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,260 | $ 3,523 | |
Percentage of portfolio | 3.00% | 3.10% | |
Credit Card Portfolio Segment [Member] | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 48,180 | $ 51,435 | |
Percentage of portfolio | 44.80% | 44.80% | |
Credit Card Portfolio Segment [Member] | Canada | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 5,815 | $ 6,286 | |
Percentage of portfolio | 5.40% | 5.50% | |
Credit Card Portfolio Segment [Member] | United Kingdom | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,226 | $ 3,183 | |
Percentage of portfolio | 3.00% | 2.80% | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Domestic [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 98,535 | $ 105,293 | |
Percentage of portfolio | 91.60% | 91.70% | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Foreign [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 9,041 | $ 9,469 | |
Percentage of portfolio | 8.40% | 8.30% |
Loans - Credit Card_ Net Charge
Loans - Credit Card: Net Charge-Offs (Detail) - Credit Card Portfolio Segment [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Net charge-offs | $ 1,377 | $ 1,271 |
Percentage annualized net charge-off by average loans held for investment | 5.03% | 5.02% |
Geographic Distribution, Domestic [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Net charge-offs | $ 1,321 | $ 1,196 |
Percentage annualized net charge-off by average loans held for investment | 5.26% | 5.14% |
Geographic Distribution, Foreign [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Net charge-offs | $ 56 | $ 75 |
Percentage annualized net charge-off by average loans held for investment | 2.49% | 3.69% |
Loans - Consumer Banking_ Risk
Loans - Consumer Banking: Risk Profile by Geographic Region, Delinquency Status and Performing Status (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 248,256 | $ 254,473 | $ 240,588 |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 74,674 | $ 75,078 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 54,811 | $ 53,991 | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 54,811 | $ 53,991 | |
Percentage of portfolio | 73.40% | 71.90% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,096 | $ 7,040 | |
Percentage of portfolio | 9.50% | 9.40% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,195 | $ 6,099 | |
Percentage of portfolio | 8.30% | 8.10% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,566 | $ 4,486 | |
Percentage of portfolio | 6.10% | 6.00% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Georgia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,724 | $ 2,726 | |
Percentage of portfolio | 3.60% | 3.60% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Ohio | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,378 | $ 2,318 | |
Percentage of portfolio | 3.20% | 3.10% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,221 | $ 2,236 | |
Percentage of portfolio | 3.00% | 3.00% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,182 | $ 2,181 | |
Percentage of portfolio | 2.90% | 2.90% | |
Consumer Portfolio Segment [Member] | Auto | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 27,449 | $ 26,905 | |
Percentage of portfolio | 36.80% | 35.80% | |
Consumer Portfolio Segment [Member] | Home loan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,630 | $ 17,633 | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,630 | $ 17,633 | |
Percentage of portfolio | 22.30% | 23.50% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 845 | $ 882 | |
Percentage of portfolio | 1.10% | 1.20% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | California | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,458 | $ 3,734 | |
Percentage of portfolio | 4.70% | 5.00% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 927 | $ 976 | |
Percentage of portfolio | 1.20% | 1.30% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,888 | $ 1,941 | |
Percentage of portfolio | 2.50% | 2.60% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,170 | $ 1,226 | |
Percentage of portfolio | 1.60% | 1.60% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 997 | $ 1,034 | |
Percentage of portfolio | 1.30% | 1.40% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | New Jersey | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 881 | $ 931 | |
Percentage of portfolio | 1.20% | 1.20% | |
Consumer Portfolio Segment [Member] | Home loan | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 6,464 | $ 6,909 | |
Percentage of portfolio | 8.70% | 9.20% | |
Consumer Portfolio Segment [Member] | Retail banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,233 | $ 3,454 | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,233 | $ 3,454 | |
Percentage of portfolio | 4.30% | 4.60% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Texas | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 699 | $ 717 | |
Percentage of portfolio | 0.90% | 0.90% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 921 | $ 953 | |
Percentage of portfolio | 1.20% | 1.30% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | New York | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 931 | $ 955 | |
Percentage of portfolio | 1.30% | 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 | $ 187 | |
Percentage of portfolio | 0.20% | 0.20% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 150 | $ 154 | |
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 | $ 209 | $ 221 | |
Percentage of portfolio | 0.30% | 0.30% | |
Consumer Portfolio Segment [Member] | Retail banking | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 138 | $ 267 | |
Percentage of portfolio | 0.20% | 0.40% |
Loans - Consumer Banking_ Net C
Loans - Consumer Banking: Net Charge-Offs and Nonperforming Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Nonperforming Loans | $ 788 | $ 899 | |
Financing Receivable, Nonaccrual, Percent Past Due | 0.32% | 0.35% | |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Net charge-offs | $ 223 | $ 218 | |
Percentage annualized net charge-off by average loans held for investment | 1.19% | 1.19% | |
Nonperforming Loans | $ 452 | $ 587 | |
Financing Receivable, Nonaccrual, Percent Past Due | 0.61% | 0.78% | |
Percentage Annualized Net Charge-Offs by Average Loans Held for Investment, Excluding Loans Acquired Impact | 1.36% | 1.46% | |
Loan Receivable, Nonaccrual, Percent Past Due, Excluding Impact of Acquired Loans | 0.69% | 0.91% | |
Consumer Portfolio Segment [Member] | Auto | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Net charge-offs | $ 208 | $ 199 | |
Percentage annualized net charge-off by average loans held for investment | 1.53% | 1.64% | |
Nonperforming Loans | $ 275 | $ 376 | |
Financing Receivable, Nonaccrual, Percent Past Due | 0.50% | 0.70% | |
Consumer Portfolio Segment [Member] | Home loan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Net charge-offs | $ (1) | $ 2 | |
Percentage annualized net charge-off by average loans held for investment | (0.03%) | 0.03% | |
Nonperforming Loans | $ 143 | $ 176 | |
Financing Receivable, Nonaccrual, Percent Past Due | 0.86% | 1.00% | |
Percentage Annualized Net Charge-Offs by Average Loans Held for Investment, Excluding Loans Acquired Impact | (0.09%) | 0.08% | |
Loan Receivable, Nonaccrual, Percent Past Due, Excluding Impact of Acquired Loans | 2.00% | 2.39% | |
Consumer Portfolio Segment [Member] | Retail banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Net charge-offs | $ 16 | $ 17 | |
Percentage annualized net charge-off by average loans held for investment | 1.89% | 1.92% | |
Nonperforming Loans | $ 34 | $ 35 | |
Financing Receivable, Nonaccrual, Percent Past Due | 1.04% | 1.00% |
Loans - Home Loan_ Risk Profile
Loans - Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 248,256 | $ 254,473 | $ 240,588 |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 74,674 | $ 75,078 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,630 | $ 17,633 | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,630 | $ 17,633 | |
Percentage of portfolio | 100.00% | 100.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | Origination during or before 2009 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 8,597 | $ 9,336 | |
Percentage of portfolio | 51.70% | 53.00% | |
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 | $ 1,055 | $ 1,142 | |
Percentage of portfolio | 6.40% | 6.50% | |
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 | $ 1,200 | $ 1,294 | |
Percentage of portfolio | 7.20% | 7.30% | |
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 | $ 797 | $ 851 | |
Percentage of portfolio | 4.80% | 4.80% | |
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 | $ 401 | $ 427 | |
Percentage of portfolio | 2.40% | 2.50% | |
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 | $ 472 | $ 492 | |
Percentage of portfolio | 2.80% | 2.70% | |
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 | $ 910 | $ 933 | |
Percentage of portfolio | 5.50% | 5.30% | |
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 | $ 1,590 | $ 1,627 | |
Percentage of portfolio | 9.50% | 9.20% | |
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 | $ 1,599 | $ 1,531 | |
Percentage of portfolio | 9.60% | 8.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Origination Year Concentration Risk | 2018 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 9 | ||
Percentage of portfolio | 0.10% | ||
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,630 | $ 17,633 | |
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 | $ 3,458 | $ 3,734 | |
Percentage of portfolio | 20.80% | 21.20% | |
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 | $ 1,888 | $ 1,941 | |
Percentage of portfolio | 11.40% | 11.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Maryland | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,170 | $ 1,226 | |
Percentage of portfolio | 7.00% | 6.90% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Virginia | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 997 | $ 1,034 | |
Percentage of portfolio | 6.00% | 5.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Illinois | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 927 | $ 976 | |
Percentage of portfolio | 5.60% | 5.50% | |
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 | $ 881 | $ 931 | |
Percentage of portfolio | 5.30% | 5.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | TEXAS | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 845 | $ 882 | |
Percentage of portfolio | 5.10% | 5.00% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Louisiana | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 785 | $ 843 | |
Percentage of portfolio | 4.70% | 4.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Florida | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 722 | $ 768 | |
Percentage of portfolio | 4.30% | 4.40% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | ARIZONA | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 617 | $ 668 | |
Percentage of portfolio | 3.70% | 3.80% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,340 | $ 4,630 | |
Percentage of portfolio | 26.10% | 26.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Lien Type Concentration Risk | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,630 | $ 17,633 | |
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 | $ 15,464 | $ 16,418 | |
Percentage of portfolio | 93.00% | 93.10% | |
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 | $ 1,166 | $ 1,215 | |
Percentage of portfolio | 7.00% | 6.90% | |
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 | $ 16,630 | $ 17,633 | |
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 | $ 5,093 | $ 5,227 | |
Percentage of portfolio | 30.60% | 29.60% | |
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 | $ 11,537 | $ 12,406 | |
Percentage of portfolio | 69.40% | 70.40% | |
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 | $ 7,150 | $ 7,358 | |
Percentage of portfolio | 43.00% | 41.70% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | Origination during or before 2009 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 1,517 | $ 1,648 | |
Percentage of portfolio | 9.10% | 9.40% | |
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 | $ 61 | $ 64 | |
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 | $ 106 | $ 113 | |
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 | $ 629 | $ 673 | |
Percentage of portfolio | 3.80% | 3.80% | |
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 | $ 360 | $ 381 | |
Percentage of portfolio | 2.20% | 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 | $ 448 | $ 467 | |
Percentage of portfolio | 2.70% | 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 | $ 882 | $ 905 | |
Percentage of portfolio | 5.30% | 5.10% | |
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 | $ 1,568 | $ 1,604 | |
Percentage of portfolio | 9.40% | 9.10% | |
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 | $ 1,570 | $ 1,503 | |
Percentage of portfolio | 9.40% | 8.50% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Loans excluding Acquired Loans | Origination Year Concentration Risk | 2018 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 9 | ||
Percentage of portfolio | 0.10% | ||
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 | $ 7,150 | $ 7,358 | |
Percentage of portfolio | 43.00% | 41.70% | |
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 | $ 968 | $ 987 | |
Percentage of portfolio | 5.80% | 5.60% | |
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 | $ 1,408 | $ 1,427 | |
Percentage of portfolio | 8.50% | 8.10% | |
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 | $ 590 | $ 608 | |
Percentage of portfolio | 3.50% | 3.40% | |
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 | $ 524 | $ 532 | |
Percentage of portfolio | 3.20% | 3.00% | |
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 | $ 162 | $ 163 | |
Percentage of portfolio | 1.00% | 0.90% | |
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 | $ 375 | $ 389 | |
Percentage of portfolio | 2.30% | 2.20% | |
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 | $ 781 | $ 811 | |
Percentage of portfolio | 4.70% | 4.60% | |
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 | $ 770 | $ 826 | |
Percentage of portfolio | 4.60% | 4.70% | |
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 | $ 186 | $ 186 | |
Percentage of portfolio | 1.10% | 1.10% | |
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 | $ 88 | $ 91 | |
Percentage of portfolio | 0.50% | 0.50% | |
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 | $ 1,298 | $ 1,338 | |
Percentage of portfolio | 7.80% | 7.60% | |
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 | $ 7,150 | $ 7,358 | |
Percentage of portfolio | 43.00% | 41.70% | |
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 | $ 6,199 | $ 6,364 | |
Percentage of portfolio | 37.30% | 36.10% | |
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 | $ 951 | $ 994 | |
Percentage of portfolio | 5.70% | 5.60% | |
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 | $ 7,150 | $ 7,358 | |
Percentage of portfolio | 43.00% | 41.70% | |
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 | $ 3,688 | $ 3,722 | |
Percentage of portfolio | 22.20% | 21.10% | |
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 | $ 3,462 | $ 3,636 | |
Percentage of portfolio | 20.80% | 20.60% | |
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 | $ 9,480 | $ 10,275 | |
Percentage of portfolio | 57.00% | 58.30% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | Origination during or before 2009 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,080 | $ 7,688 | |
Percentage of portfolio | 42.60% | 43.60% | |
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 | $ 994 | $ 1,078 | |
Percentage of portfolio | 6.00% | 6.10% | |
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 | $ 1,094 | $ 1,181 | |
Percentage of portfolio | 6.60% | 6.70% | |
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 | $ 168 | $ 178 | |
Percentage of portfolio | 1.00% | 1.00% | |
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 | $ 41 | $ 46 | |
Percentage of portfolio | 0.20% | 0.30% | |
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 | $ 24 | $ 25 | |
Percentage of portfolio | 0.10% | 0.10% | |
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 | $ 28 | |
Percentage of portfolio | 0.20% | 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 | $ 22 | $ 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 | $ 29 | $ 28 | |
Percentage of portfolio | 0.20% | 0.20% | |
Consumer Portfolio Segment [Member] | Home loan | Home Loans Receivable | Acquired Loans | Origination Year Concentration Risk | 2018 | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 0 | ||
Percentage of portfolio | 0.00% | ||
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 | $ 9,480 | $ 10,275 | |
Percentage of portfolio | 57.00% | 58.30% | |
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 | $ 2,490 | $ 2,747 | |
Percentage of portfolio | 15.00% | 15.60% | |
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 | $ 480 | $ 514 | |
Percentage of portfolio | 2.90% | 2.90% | |
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 | $ 580 | $ 618 | |
Percentage of portfolio | 3.50% | 3.50% | |
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 | $ 473 | $ 502 | |
Percentage of portfolio | 2.80% | 2.80% | |
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 | $ 765 | $ 813 | |
Percentage of portfolio | 4.60% | 4.60% | |
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 | $ 506 | $ 542 | |
Percentage of portfolio | 3.00% | 3.10% | |
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 | $ 64 | $ 71 | |
Percentage of portfolio | 0.40% | 0.40% | |
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 | $ 15 | $ 17 | |
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 | $ 536 | $ 582 | |
Percentage of portfolio | 3.20% | 3.30% | |
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 | $ 529 | $ 577 | |
Percentage of portfolio | 3.20% | 3.30% | |
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 | $ 3,042 | $ 3,292 | |
Percentage of portfolio | 18.30% | 18.70% | |
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 | $ 9,480 | $ 10,275 | |
Percentage of portfolio | 57.00% | 58.30% | |
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 | $ 9,265 | $ 10,054 | |
Percentage of portfolio | 55.70% | 57.00% | |
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 | $ 215 | $ 221 | |
Percentage of portfolio | 1.30% | 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 | $ 9,480 | $ 10,275 | |
Percentage of portfolio | 57.00% | 58.30% | |
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 | $ 1,405 | $ 1,505 | |
Percentage of portfolio | 8.40% | 8.50% | |
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 | $ 8,075 | $ 8,770 | |
Percentage of portfolio | 48.60% | 49.80% |
Loans - Commercial Banking_ Ris
Loans - Commercial Banking: Risk Profile by Geographic Region and Internal Risk Rating (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 248,256 | $ 254,473 | $ 240,588 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 788 | 899 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | 9,935 | 10,775 | |
Commercial Banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 65,953 | $ 64,575 | |
Percentage of portfolio | 100.00% | 100.00% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 309 | $ 284 | |
Commercial Banking | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | 439 | 480 | |
Commercial Banking | Commercial and multifamily real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 27,360 | $ 26,150 | |
Percentage of portfolio | 100.00% | 100.00% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 4 | $ 38 | |
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 | 24 | 25 | |
Commercial Banking | Commercial and industrial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 38,208 | $ 38,025 | |
Percentage of portfolio | 100.00% | 100.00% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 299 | $ 239 | |
Commercial Banking | Commercial and industrial | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | 415 | 455 | |
Commercial Banking | Small-ticket commercial real estate | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 385 | $ 400 | |
Percentage of portfolio | 100.00% | 100.00% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 6 | $ 7 | |
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 | $ 24,110 | $ 22,993 | |
Percentage of portfolio | 36.60% | 35.70% | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | Mid-Atlantic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,012 | $ 6,612 | |
Percentage of portfolio | 10.60% | 10.20% | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 18,422 | $ 18,480 | |
Percentage of portfolio | 27.90% | 28.60% | |
Commercial Banking | Loans Receivable | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,409 | $ 16,490 | |
Percentage of portfolio | 24.90% | 25.50% | |
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 | $ 439 | $ 480 | |
Percentage of portfolio | 0.70% | 0.80% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 62,773 | $ 61,162 | |
Percentage of portfolio | 95.10% | 94.70% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Criticized | Criticized performing | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 2,432 | $ 2,649 | |
Percentage of portfolio | 3.70% | 4.10% | |
Commercial Banking | Loans Receivable | Internal Risk Rating Concentration Risk | Criticized | Criticized nonperforming | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 284 | ||
Percentage of portfolio | 0.50% | 0.40% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 309 | ||
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 16,105 | $ 14,969 | |
Percentage of portfolio | 58.90% | 57.30% | |
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 | $ 2,981 | $ 2,675 | |
Percentage of portfolio | 10.90% | 10.20% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 3,842 | $ 3,719 | |
Percentage of portfolio | 14.00% | 14.20% | |
Commercial Banking | Loans Receivable | Commercial and multifamily real estate | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,432 | $ 4,787 | |
Percentage of portfolio | 16.20% | 18.30% | |
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 | $ 24 | $ 25 | |
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 | $ 26,807 | $ 25,609 | |
Percentage of portfolio | 98.00% | 98.00% | |
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 | $ 525 | $ 478 | |
Percentage of portfolio | 1.90% | 1.80% | |
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 | $ 4 | $ 38 | |
Percentage of portfolio | 0.00% | 0.10% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 7,765 | $ 7,774 | |
Percentage of portfolio | 20.30% | 20.40% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | Mid-Atlantic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 4,017 | $ 3,922 | |
Percentage of portfolio | 10.50% | 10.30% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 14,559 | $ 14,739 | |
Percentage of portfolio | 38.10% | 38.80% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 11,867 | $ 11,590 | |
Percentage of portfolio | 31.10% | 30.50% | |
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 | $ 415 | $ 455 | |
Percentage of portfolio | 1.10% | 1.20% | |
Commercial Banking | Loans Receivable | Commercial and industrial | Internal Risk Rating Concentration Risk | Noncriticized | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 35,588 | $ 35,161 | |
Percentage of portfolio | 93.10% | 92.50% | |
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 | $ 1,906 | $ 2,170 | |
Percentage of portfolio | 5.00% | 5.70% | |
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 | $ 299 | $ 239 | |
Percentage of portfolio | 0.80% | 0.60% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | Northeast | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 240 | $ 250 | |
Percentage of portfolio | 62.30% | 62.40% | |
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 | $ 14 | $ 15 | |
Percentage of portfolio | 3.60% | 3.80% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | South | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 21 | $ 22 | |
Percentage of portfolio | 5.50% | 5.50% | |
Commercial Banking | Loans Receivable | Small-ticket commercial real estate | Geographic Concentration Risk | Other | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 110 | $ 113 | |
Percentage of portfolio | 28.60% | 28.30% | |
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 | $ 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 | $ 378 | $ 392 | |
Percentage of portfolio | 98.10% | 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 | $ 1 | |
Percentage of portfolio | 0.30% | 0.30% | |
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 | $ 6 | $ 7 | |
Percentage of portfolio | 1.60% | 1.80% | |
Operating Segments | Commercial Banking | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment | $ 65,953 | $ 67,320 |
Loans - Impaired Loans, Excludi
Loans - Impaired Loans, Excluding Acquired Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Impaired Financing Receivable: | |||
With an Allowance | $ 1,972 | $ 2,052 | |
Without an Allowance | 415 | 393 | |
Total Recorded Investment | 2,387 | 2,445 | |
Related Allowance | 414 | 421 | |
Net Recorded Investment | 1,973 | 2,024 | |
Unpaid Principal Balance | 2,748 | 2,882 | |
Average Recorded Investment | 2,415 | $ 3,067 | |
Interest Income Recognized | 40 | 39 | |
Credit Card Portfolio Segment [Member] | |||
Impaired Financing Receivable: | |||
With an Allowance | 836 | 812 | |
Without an Allowance | 0 | 0 | |
Total Recorded Investment | 836 | 812 | |
Related Allowance | 302 | 292 | |
Net Recorded Investment | 534 | 520 | |
Unpaid Principal Balance | 817 | 792 | |
Average Recorded Investment | 824 | 726 | |
Interest Income Recognized | 19 | 18 | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Domestic [Member] | |||
Impaired Financing Receivable: | |||
With an Allowance | 652 | 639 | |
Without an Allowance | 0 | 0 | |
Total Recorded Investment | 652 | 639 | |
Related Allowance | 212 | 208 | |
Net Recorded Investment | 440 | 431 | |
Unpaid Principal Balance | 638 | 625 | |
Average Recorded Investment | 646 | 585 | |
Interest Income Recognized | 16 | 15 | |
Credit Card Portfolio Segment [Member] | Geographic Distribution, Foreign [Member] | |||
Impaired Financing Receivable: | |||
With an Allowance | 184 | 173 | |
Without an Allowance | 0 | 0 | |
Total Recorded Investment | 184 | 173 | |
Related Allowance | 90 | 84 | |
Net Recorded Investment | 94 | 89 | |
Unpaid Principal Balance | 179 | 167 | |
Average Recorded Investment | 178 | 141 | |
Interest Income Recognized | 3 | 3 | |
Consumer Portfolio Segment [Member] | |||
Impaired Financing Receivable: | |||
With an Allowance | 596 | 606 | |
Without an Allowance | 122 | 169 | |
Total Recorded Investment | 718 | 775 | |
Related Allowance | 53 | 53 | |
Net Recorded Investment | 665 | 722 | |
Unpaid Principal Balance | 968 | 1,094 | |
Average Recorded Investment | 746 | 913 | |
Interest Income Recognized | 14 | 17 | |
Consumer Portfolio Segment [Member] | Auto | |||
Impaired Financing Receivable: | |||
With an Allowance | 350 | 363 | |
Without an Allowance | 82 | 118 | |
Total Recorded Investment | 432 | 481 | |
Related Allowance | 34 | 30 | |
Net Recorded Investment | 398 | 451 | |
Unpaid Principal Balance | 625 | 730 | |
Average Recorded Investment | 456 | 511 | |
Interest Income Recognized | 13 | 15 | |
Consumer Portfolio Segment [Member] | Home loan | |||
Impaired Financing Receivable: | |||
With an Allowance | 195 | 192 | |
Without an Allowance | 30 | 41 | |
Total Recorded Investment | 225 | 233 | |
Related Allowance | 13 | 15 | |
Net Recorded Investment | 212 | 218 | |
Unpaid Principal Balance | 277 | 298 | |
Average Recorded Investment | 229 | 344 | |
Interest Income Recognized | 1 | 1 | |
Consumer Portfolio Segment [Member] | Retail banking | |||
Impaired Financing Receivable: | |||
With an Allowance | 51 | 51 | |
Without an Allowance | 10 | 10 | |
Total Recorded Investment | 61 | 61 | |
Related Allowance | 6 | 8 | |
Net Recorded Investment | 55 | 53 | |
Unpaid Principal Balance | 66 | 66 | |
Average Recorded Investment | 61 | 58 | |
Interest Income Recognized | 0 | 1 | |
Commercial Banking | |||
Impaired Financing Receivable: | |||
With an Allowance | 540 | 634 | |
Without an Allowance | 293 | 224 | |
Total Recorded Investment | 833 | 858 | |
Related Allowance | 59 | 76 | |
Net Recorded Investment | 774 | 782 | |
Unpaid Principal Balance | 963 | 996 | |
Average Recorded Investment | 845 | 1,428 | |
Interest Income Recognized | 7 | 4 | |
Commercial Banking | Total commercial lending | |||
Impaired Financing Receivable: | |||
With an Allowance | 534 | 627 | |
Without an Allowance | 293 | 224 | |
Total Recorded Investment | 827 | 851 | |
Related Allowance | 59 | 76 | |
Net Recorded Investment | 768 | 775 | |
Unpaid Principal Balance | 955 | 987 | |
Average Recorded Investment | 839 | 1,422 | |
Interest Income Recognized | 7 | 4 | |
Commercial Banking | Commercial and multifamily real estate | |||
Impaired Financing Receivable: | |||
With an Allowance | 72 | 138 | |
Without an Allowance | 0 | 2 | |
Total Recorded Investment | 72 | 140 | |
Related Allowance | 4 | 13 | |
Net Recorded Investment | 68 | 127 | |
Unpaid Principal Balance | 73 | 143 | |
Average Recorded Investment | 106 | 113 | |
Interest Income Recognized | 1 | 1 | |
Commercial Banking | Commercial and industrial | |||
Impaired Financing Receivable: | |||
With an Allowance | 462 | 489 | |
Without an Allowance | 293 | 222 | |
Total Recorded Investment | 755 | 711 | |
Related Allowance | 55 | 63 | |
Net Recorded Investment | 700 | 648 | |
Unpaid Principal Balance | 882 | 844 | |
Average Recorded Investment | 733 | 1,309 | |
Interest Income Recognized | 6 | 3 | |
Commercial Banking | Small-ticket commercial real estate | |||
Impaired Financing Receivable: | |||
With an Allowance | 6 | 7 | |
Without an Allowance | 0 | 0 | |
Total Recorded Investment | 6 | 7 | |
Related Allowance | 0 | 0 | |
Net Recorded Investment | 6 | 7 | |
Unpaid Principal Balance | 8 | $ 9 | |
Average Recorded Investment | 6 | 6 | |
Interest Income Recognized | $ 0 | $ 0 |
Loans - TDR Disclosures in Prog
Loans - TDR Disclosures in Progress Financial Impact of Modification (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | $ 248 | $ 375 |
Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 163 | 141 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 70 | 85 |
Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 62 | 75 |
Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 6 | 8 |
Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 2 | 2 |
Commercial Banking | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 15 | 149 |
Commercial Banking | Total commercial lending | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 13 | 149 |
Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 2 | 2 |
Commercial Banking | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | 11 | 147 |
Commercial Banking | Small-ticket commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | $ 2 | $ 0 |
Reduced Interest Rate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 80.00% | 50.00% |
Average Rate Reduction | 16.50% | 14.14% |
Reduced Interest Rate | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 100.00% | 100.00% |
Average Rate Reduction | 19.17% | 17.74% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 49.00% | 53.00% |
Average Rate Reduction | 3.71% | 3.78% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 52.00% | 52.00% |
Average Rate Reduction | 3.76% | 4.02% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 28.00% | 60.00% |
Average Rate Reduction | 1.78% | 2.01% |
Reduced Interest Rate | Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 11.00% | 50.00% |
Average Rate Reduction | 10.22% | 3.00% |
Reduced Interest Rate | Commercial Banking | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 2.00% |
Average Rate Reduction | 0.00% | 0.27% |
Reduced Interest Rate | Commercial Banking | Total commercial lending | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 2.00% |
Average Rate Reduction | 0.00% | 0.27% |
Reduced Interest Rate | Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 100.00% |
Average Rate Reduction | 0.00% | 0.25% |
Reduced Interest Rate | Commercial Banking | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 1.00% |
Average Rate Reduction | 0.00% | 0.31% |
Reduced Interest Rate | Commercial Banking | Small-ticket commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Average Rate Reduction | 0.00% | 0.00% |
Term Extension | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 30.00% | 28.00% |
Average Term Extension (Months) | 21 months | 25 months |
Term Extension | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Average Term Extension (Months) | 0 months | 0 months |
Term Extension | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 90.00% | 87.00% |
Average Term Extension (Months) | 23 months | 25 months |
Term Extension | Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 91.00% | 89.00% |
Average Term Extension (Months) | 7 months | 7 months |
Term Extension | Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 83.00% | 80.00% |
Average Term Extension (Months) | 214 months | 224 months |
Term Extension | Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 81.00% | 65.00% |
Average Term Extension (Months) | 5 months | 7 months |
Term Extension | Commercial Banking | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 85.00% | 20.00% |
Average Term Extension (Months) | 11 months | 25 months |
Term Extension | Commercial Banking | Total commercial lending | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 100.00% | 20.00% |
Average Term Extension (Months) | 11 months | 25 months |
Term Extension | Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 100.00% | 100.00% |
Average Term Extension (Months) | 7 months | 12 months |
Term Extension | Commercial Banking | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 100.00% | 19.00% |
Average Term Extension (Months) | 11 months | 26 months |
Term Extension | Commercial Banking | Small-ticket commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Average Term Extension (Months) | 0 months | 0 months |
Balance Reduction | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 2.00% |
Gross Balance Reduction | $ 0 | $ 7 |
Balance Reduction | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 9.00% |
Gross Balance Reduction | $ 0 | $ 7 |
Balance Reduction | Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 10.00% |
Gross Balance Reduction | $ 0 | $ 7 |
Balance Reduction | Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Total commercial lending | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Balance Reduction | Commercial Banking | Small-ticket commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Gross Balance Reduction | $ 0 | $ 0 |
Geographic Distribution, Domestic [Member] | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | $ 113 | $ 97 |
Geographic Distribution, Domestic [Member] | Reduced Interest Rate | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 100.00% | 100.00% |
Average Rate Reduction | 15.73% | 13.85% |
Geographic Distribution, Domestic [Member] | Term Extension | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Average Term Extension (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% |
Gross Balance Reduction | $ 0 | $ 0 |
Geographic Distribution, Foreign [Member] | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Loans Modified | $ 50 | $ 44 |
Geographic Distribution, Foreign [Member] | Reduced Interest Rate | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 100.00% | 100.00% |
Average Rate Reduction | 26.86% | 26.18% |
Geographic Distribution, Foreign [Member] | Term Extension | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
% of TDR Activity | 0.00% | 0.00% |
Average Term Extension (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% |
Gross Balance Reduction | $ 0 | $ 0 |
Loans - TDR - Subsequent Defaul
Loans - TDR - Subsequent Defaults of Completed TDR Modifications (Detail) $ in Millions | 3 Months Ended | |
Mar. 31, 2018USD ($)Contract | Mar. 31, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 32,102 | 26,446 |
Total Loans | $ | $ 117 | $ 91 |
Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 30,278 | 24,230 |
Total Loans | $ | $ 60 | $ 42 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1,818 | 2,201 |
Total Loans | $ | $ 22 | $ 29 |
Consumer Portfolio Segment [Member] | Auto | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1,807 | 2,179 |
Total Loans | $ | $ 21 | $ 25 |
Consumer Portfolio Segment [Member] | Home loan | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 3 | 11 |
Total Loans | $ | $ 1 | $ 3 |
Consumer Portfolio Segment [Member] | Retail banking | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 8 | 11 |
Total Loans | $ | $ 0 | $ 1 |
Commercial Banking | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 15 |
Total Loans | $ | $ 35 | $ 20 |
Commercial Banking | Total commercial lending | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 14 |
Total Loans | $ | $ 35 | $ 19 |
Commercial Banking | Commercial and multifamily real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 0 | 0 |
Total Loans | $ | $ 0 | $ 0 |
Commercial Banking | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 14 |
Total Loans | $ | $ 35 | $ 19 |
Commercial Banking | Small-ticket commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 0 | 1 |
Total Loans | $ | $ 0 | $ 1 |
Geographic Distribution, Domestic [Member] | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 16,339 | 12,805 |
Total Loans | $ | $ 34 | $ 26 |
Geographic Distribution, Foreign [Member] | Credit Card Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 13,939 | 11,425 |
Total Loans | $ | $ 26 | $ 16 |
Loans - Outstanding Balance and
Loans - Outstanding Balance and Carrying Value of Acquired Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Outstanding balance | $ 10,947 | $ 11,855 | |
Carrying value | 9,928 | 10,767 | |
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 | 35 | $ 37 | |
Provision for credit losses for Acquired Loans | $ (2) | $ 1 |
Loans - Changes in Accretable Y
Loans - Changes in Accretable Yield on Acquired Loans (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |
Accretable yield, beginning balance | $ 2,168 |
Accretion recognized in earnings | (117) |
Reclassifications from nonaccretable differences | 3 |
Changes in accretable yield for non-credit related changes in expected cash flows | (126) |
Accretable yield, ending balance | $ 1,928 |
Allowance for Loan and Lease 62
Allowance for Loan and Lease Losses - Summary of Changes in Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | $ 7,502 | |
Balance at end of the period | 7,567 | |
Total Allowance | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 7,502 | $ 6,503 |
Charge-offs | (2,276) | (1,991) |
Recoveries | 658 | 481 |
Net charge-offs | (1,618) | (1,510) |
Provision (benefit) for loan and lease losses | 1,684 | 1,988 |
Allowance build (release) for loan and lease losses | 66 | 478 |
Other changes | (1) | 3 |
Balance at end of the period | 7,567 | 6,984 |
Unfunded Lending Commitments Reserve | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 124 | 136 |
Provision (benefit) for loan and lease losses | (10) | 4 |
Balance at end of the period | 114 | 140 |
Combined Allowance And Unfunded Reserve [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance at end of the period | 7,681 | 7,124 |
Credit Card Portfolio Segment [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 5,648 | 4,606 |
Charge-offs | (1,825) | (1,601) |
Recoveries | 448 | 330 |
Net charge-offs | (1,377) | (1,271) |
Provision (benefit) for loan and lease losses | 1,456 | 1,717 |
Allowance build (release) for loan and lease losses | 79 | 446 |
Other changes | (1) | 6 |
Balance at end of the period | 5,726 | 5,058 |
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 |
Provision (benefit) for loan and lease losses | 0 | 0 |
Balance at end of the period | 0 | 0 |
Credit Card Portfolio Segment [Member] | Combined Allowance And Unfunded Reserve [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance at end of the period | 5,726 | 5,058 |
Consumer Portfolio Segment [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 1,242 | 1,102 |
Charge-offs | (431) | (364) |
Recoveries | 208 | 146 |
Net charge-offs | (223) | (218) |
Provision (benefit) for loan and lease losses | 234 | 279 |
Allowance build (release) for loan and lease losses | 11 | 61 |
Other changes | 0 | 0 |
Balance at end of the period | 1,253 | 1,163 |
Consumer Portfolio Segment [Member] | Unfunded Lending Commitments Reserve | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 7 | 7 |
Provision (benefit) for loan and lease losses | (1) | 0 |
Balance at end of the period | 6 | 7 |
Consumer Portfolio Segment [Member] | Combined Allowance And Unfunded Reserve [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance at end of the period | 1,259 | 1,170 |
Commercial Banking | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 611 | 793 |
Charge-offs | (21) | (26) |
Recoveries | 2 | 3 |
Net charge-offs | (19) | (23) |
Provision (benefit) for loan and lease losses | (5) | (6) |
Allowance build (release) for loan and lease losses | (24) | (29) |
Other changes | 0 | (3) |
Balance at end of the period | 587 | 761 |
Commercial Banking | Unfunded Lending Commitments Reserve | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 117 | 129 |
Provision (benefit) for loan and lease losses | (9) | 4 |
Balance at end of the period | 108 | 133 |
Commercial Banking | Combined Allowance And Unfunded Reserve [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance at end of the period | 695 | 894 |
Other | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 1 | 2 |
Charge-offs | 1 | 0 |
Recoveries | 0 | 2 |
Net charge-offs | 1 | 2 |
Provision (benefit) for loan and lease losses | (1) | (2) |
Allowance build (release) for loan and lease losses | 0 | 0 |
Other changes | 0 | 0 |
Balance at end of the period | 1 | 2 |
Other | Unfunded Lending Commitments Reserve | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance as beginning of the period | 0 | 0 |
Provision (benefit) for loan and lease losses | 0 | 0 |
Balance at end of the period | 0 | 0 |
Other | Combined Allowance And Unfunded Reserve [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Balance at end of the period | $ 1 | $ 2 |
Allowance for Loan and Lease 63
Allowance for Loan and Lease Losses - Components of Allowance for Loan and Lease Losses by Impairment Methodology (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Allowance for loan and lease losses by impairment methodology: | ||||
Collectively evaluated | $ 7,118 | $ 7,044 | ||
Asset-specific | 414 | 421 | ||
Total allowance for loan and lease losses | 7,567 | 7,502 | ||
Loans held for investment by impairment methodology: | ||||
Collectively evaluated | 235,980 | 241,323 | ||
Asset-specific | 2,341 | 2,375 | ||
Loans held for investment | $ 248,256 | $ 254,473 | $ 240,588 | |
Allowance as a percentage of period-end loans held for investment | 3.05% | 2.95% | ||
Credit Card Portfolio Segment [Member] | ||||
Allowance for loan and lease losses by impairment methodology: | ||||
Collectively evaluated | $ 5,424 | $ 5,356 | ||
Asset-specific | 302 | 292 | ||
Total allowance for loan and lease losses | 5,726 | 5,648 | 5,058 | $ 4,606 |
Loans held for investment by impairment methodology: | ||||
Collectively evaluated | 106,740 | 113,948 | ||
Asset-specific | 836 | 812 | ||
Loans held for investment | $ 107,576 | $ 114,762 | ||
Allowance as a percentage of period-end loans held for investment | 5.32% | 4.92% | ||
Consumer Portfolio Segment [Member] | ||||
Allowance for loan and lease losses by impairment methodology: | ||||
Collectively evaluated | $ 1,170 | $ 1,158 | ||
Asset-specific | 53 | 53 | ||
Total allowance for loan and lease losses | 1,253 | 1,242 | 1,163 | 1,102 |
Loans held for investment by impairment methodology: | ||||
Collectively evaluated | 64,506 | 64,080 | ||
Asset-specific | 672 | 705 | ||
Loans held for investment | $ 74,674 | $ 75,078 | ||
Allowance as a percentage of period-end loans held for investment | 1.68% | 1.65% | ||
Commercial Banking | ||||
Allowance for loan and lease losses by impairment methodology: | ||||
Collectively evaluated | $ 523 | $ 529 | ||
Asset-specific | 59 | 76 | ||
Total allowance for loan and lease losses | 587 | 611 | 761 | 793 |
Loans held for investment by impairment methodology: | ||||
Collectively evaluated | 64,681 | 63,237 | ||
Asset-specific | 833 | 858 | ||
Loans held for investment | $ 65,953 | $ 64,575 | ||
Allowance as a percentage of period-end loans held for investment | 0.89% | 0.95% | ||
Other | ||||
Allowance for loan and lease losses by impairment methodology: | ||||
Collectively evaluated | $ 1 | $ 1 | ||
Asset-specific | 0 | 0 | ||
Total allowance for loan and lease losses | 1 | 1 | $ 2 | $ 2 |
Loans held for investment by impairment methodology: | ||||
Collectively evaluated | 53 | 58 | ||
Asset-specific | 0 | 0 | ||
Loans held for investment | $ 53 | $ 58 | ||
Allowance as a percentage of period-end loans held for investment | 1.89% | 1.72% | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan and lease losses by impairment methodology: | ||||
Financing Receivable, Allowance for Credit Losses | $ 35 | $ 37 | ||
Loans held for investment by impairment methodology: | ||||
Loans held for investment | 9,935 | 10,775 | ||
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 | 31 | ||
Loans held for investment by impairment methodology: | ||||
Loans held for investment | 9,496 | 10,293 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Banking | ||||
Allowance for loan and lease losses by impairment methodology: | ||||
Financing Receivable, Allowance for Credit Losses | 5 | 6 | ||
Loans held for investment by impairment methodology: | ||||
Loans held for investment | 439 | 480 | ||
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 64
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 | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Expected reimbursement from loss sharing partners | $ 388 | $ 235 | $ 380 | $ 228 |
Amounts charged to partners and impacting net charge-offs | (97) | (65) | ||
Impact to provision for credit losses | $ 105 | $ 72 |
Variable Interest Entities an65
Variable Interest Entities and Securitizations - Carrying Amount of Assets and Liabilities of Variable Interest Entities (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | $ 36,042 | $ 36,700 |
Carrying Amount of Liabilities, Consolidated | 19,576 | 20,790 |
Carrying Amount of Assets, Unconsolidated | 4,949 | 4,948 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,631 | 1,674 |
Maximum exposure to loss | 5,536 | 5,550 |
Affordable housing entities | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 229 | 226 |
Carrying Amount of Liabilities, Consolidated | 11 | 10 |
Carrying Amount of Assets, Unconsolidated | 4,200 | 4,175 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,257 | 1,284 |
Variable Interest Entities, nonconsolidated, Carrying amount of Assets included in certain investment structures | 2,200 | 2,200 |
Variable Interest Entities, nonconsolidated, Carrying amount of liabilities included in certain investment structures | 889 | 901 |
Maximum exposure to loss | 4,200 | 4,175 |
Entities that provide capital to low-income and rural communities | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 1,555 | 1,498 |
Carrying Amount of Liabilities, Consolidated | 129 | 129 |
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 | 303 | 318 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 0 | 0 |
Maximum exposure to loss | 303 | 318 |
Total Other VIEs | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 1,784 | 1,724 |
Carrying Amount of Liabilities, Consolidated | 140 | 139 |
Carrying Amount of Assets, Unconsolidated | 4,503 | 4,493 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,257 | 1,284 |
Maximum exposure to loss | 4,503 | 4,493 |
Credit card loan securitizations | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 34,258 | 34,976 |
Carrying Amount of Liabilities, Consolidated | 19,436 | 20,651 |
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 | 446 | 455 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 374 | 390 |
Maximum exposure to loss | 1,033 | 1,057 |
Total securitization-related VIEs | ||
Variable Interest Entity [Line Items] | ||
Carrying Amount of Assets, Consolidated | 34,258 | 34,976 |
Carrying Amount of Liabilities, Consolidated | 19,436 | 20,651 |
Carrying Amount of Assets, Unconsolidated | 446 | 455 |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 374 | 390 |
Maximum exposure to loss | $ 1,033 | $ 1,057 |
Variable Interest Entities an66
Variable Interest Entities and Securitizations - External Debt and Receivable Balances of Securitization Programs (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Variable Interest Entity, Primary Beneficiary | ||
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items] | ||
Securities held by third-party investors, non-mortgage | $ 18,665 | $ 20,010 |
Receivables in the trust, non-mortgage | 34,943 | 35,667 |
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 | 1,169 | 1,224 |
Receivables in the trust, mortgage | 1,208 | 1,266 |
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 | 38 | 42 |
Receivables in the trust, mortgage | 32 | 35 |
Variable Interest Entity, Not Primary Beneficiary | GPMH [Member] | ||
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items] | ||
Securities held by third-party investors, mortgage | 490 | 508 |
Receivables in the trust, mortgage | 492 | 511 |
Cash balance of spread or reserve accounts, mortgage | $ 111 | $ 116 |
Variable Interest Entities an67
Variable Interest Entities and Securitizations - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Variable Interest Entity [Line Items] | |||
Funded HELOCs advances | $ 30 | $ 30 | |
Unfunded commitment on residual interests on trusts | 3 | 4 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 1,498 | 971 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 1,631 | 1,674 | |
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 124 | $ 115 | |
Affordable Housing Tax Credits And Other Tax Benefits, Amount | 146 | $ 114 | |
Amortization Method Qualified Affordable Housing Project Investments | 3,900 | 3,900 | |
Qualified Affordable Housing Project Investments, Commitment | 1,400 | 1,400 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 36,042 | 36,700 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 4,949 | 4,948 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 5,536 | 5,550 | |
Minimum | |||
Variable Interest Entity [Line Items] | |||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2,018 | ||
Maximum | |||
Variable Interest Entity [Line Items] | |||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2,020 | ||
Affordable housing entities | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | $ 1,257 | 1,284 | |
Total assets of the unconsolidated VIE investment funds | 11,500 | 11,500 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 229 | 226 | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 4,200 | 4,175 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 4,200 | 4,175 | |
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 | 1,555 | 1,498 | |
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 | 303 | 318 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 303 | 318 | |
GreenPoint Manufactured Housing | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | 5 | 10 | |
GPMH [Member] | |||
Variable Interest Entity [Line Items] | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 270 | 283 | |
Variable Interest Entity, Not Primary Beneficiary | Option- ARM | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Liabilities Incurred | 1,169 | 1,224 | |
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | 1,208 | 1,266 | |
Variable Interest Entity, Not Primary Beneficiary | GreenPoint HELOCs | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Liabilities Incurred | 38 | 42 | |
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | 32 | 35 | |
Variable Interest Entity, Not Primary Beneficiary | GreenPoint Manufactured Housing | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | 511 | ||
Letters of credit funded | 78 | 75 | |
Variable Interest Entity, Not Primary Beneficiary | GPMH [Member] | |||
Variable Interest Entity [Line Items] | |||
Continuing Involvement with Derecognized Transferred Financial Assets, Liabilities Incurred | 490 | 508 | |
Continuing Involvement with Derecognized Transferred Financial Assets, Amount Outstanding | $ 492 | $ 511 |
Goodwill and Intangible Asset68
Goodwill and Intangible Assets - Components (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Intangible Assets by Major Class [Line Items] | ||
Goodwill, Gross | $ 14,536 | $ 14,533 |
Goodwill | 14,536 | 14,533 |
Intangible Assets, Gross (Excluding Goodwill) | 3,545 | 3,554 |
Accumulated Amortization | (3,167) | (3,133) |
Intangible Assets, Net (Excluding Goodwill) | 378 | 421 |
Intangible Assets Gross Including Goodwill | 18,081 | 18,087 |
Total goodwill and other intangible assets, Net Carrying Value | 14,914 | 14,954 |
Commercial MSRs, Gross | 373 | 355 |
Commercial MSR, Accumulated Amortization | (139) | (126) |
Consumer MSRs | 92 | |
Total MSRs, Gross | 373 | 447 |
Servicing Asset at Amortized Cost | 234 | 229 |
Total MSRs, Net | 234 | 321 |
PCCR intangibles | ||
Schedule of Intangible Assets by Major Class [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 2,105 | 2,105 |
Accumulated Amortization | (1,875) | (1,844) |
Intangible Assets, Net (Excluding Goodwill) | 230 | 261 |
Core deposit intangibles | ||
Schedule of Intangible Assets by Major Class [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 1,149 | 1,149 |
Accumulated Amortization | (1,137) | (1,133) |
Intangible Assets, Net (Excluding Goodwill) | 12 | 16 |
Other Intangible Assets [Member] | ||
Schedule of Intangible Assets by Major Class [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 291 | 300 |
Accumulated Amortization | (155) | (156) |
Intangible Assets, Net (Excluding Goodwill) | $ 136 | $ 144 |
Goodwill and Intangible Asset69
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization of intangibles | $ 44 | $ 62 |
Goodwill and Intangible Asset70
Goodwill and Intangible Assets - Goodwill Attributable to Each Business Segments (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | $ 14,533 |
Other adjustments | 3 |
Goodwill, Ending Balance | 14,536 |
Commercial Banking | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | 4,901 |
Other adjustments | 0 |
Goodwill, Ending Balance | 4,901 |
Credit Card | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | 5,032 |
Other adjustments | 3 |
Goodwill, Ending Balance | 5,035 |
Consumer Banking | |
Goodwill [Roll Forward] | |
Goodwill, Beginning Balance | 4,600 |
Other adjustments | 0 |
Goodwill, Ending Balance | $ 4,600 |
Deposits and Borrowings - Depos
Deposits and Borrowings - Deposits and Short-term Borrowings (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Deposits: | |||
Non-interest-bearing deposits | $ 26,176 | $ 26,404 | |
Interest-bearing deposits | 224,671 | 217,298 | |
Total deposits | 250,847 | 243,702 | $ 241,182 |
Deposit Held For Sale | 1,600 | ||
Short-term Debt [Line Items] | |||
Short-term borrowings | 656 | 576 | |
Federal funds purchased and securities loaned or sold under agreements to repurchase | |||
Short-term Debt [Line Items] | |||
Short-term borrowings | $ 656 | $ 576 |
Deposits and Borrowings - Long-
Deposits and Borrowings - Long-Term Debt (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Time Deposits, at or Above FDIC Insurance Limit | $ 1,600 | $ 1,300 |
Long-term Debt and Capital Lease Obligations | 50,037 | 59,705 |
Debt and Capital Lease Obligations | 50,693 | 60,281 |
Deposit Held For Sale | $ 1,600 | |
Securitized debt obligations | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.02% | |
Long-term debt | $ 18,665 | 20,010 |
Total senior and subordinated notes | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 31,051 | 30,755 |
Senior notes | Total unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.88% | |
Long-term debt | $ 26,565 | 26,222 |
Senior notes | Fixed unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.92% | |
Long-term debt | $ 22,920 | 22,776 |
Senior notes | Floating unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 2.68% | |
Long-term debt | $ 3,645 | 3,446 |
Subordinated notes | Fixed unsecured subordinated debt | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 4.09% | |
Long-term debt | $ 4,486 | 4,533 |
FHLB advances | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 4.62% | |
Long-term debt | $ 4 | 8,609 |
Capital Lease Obligation and GPMH | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 7.36% | |
Long-term debt | $ 317 | 331 |
FHLB Advance Capital Lease Obligation and GPMH | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 321 | $ 8,940 |
Minimum [Member] | Securitized debt obligations | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.33% | |
Minimum [Member] | Senior notes | Fixed unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.85% | |
Minimum [Member] | Senior notes | Floating unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.22% | |
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 | 4.18% | |
Minimum [Member] | Capital Lease Obligation and GPMH | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | |
Maximum [Member] | Securitized debt obligations | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | |
Maximum [Member] | Senior notes | Fixed unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | |
Maximum [Member] | Senior notes | Floating unsecured senior debt | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.03% | |
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 | 5.36% | |
Maximum [Member] | Capital Lease Obligation and GPMH | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 16.75% |
Derivative Instruments and He73
Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Derivatives, Fair Value [Line Items] | |
Loss (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 | $ 89 |
Maximum length of time over which forecasted transactions were hedged, years | 6 years |
Derivative Instruments and He74
Derivative Instruments and Hedging Activities - Notional and Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | $ 204,893 | $ 196,612 |
Derivative Assets, Gross Amount | 914 | 1,040 |
Derivative Liabilities, Gross Amount | 1,303 | 1,268 |
Derivative Asset, Netting Adjustment | (318) | (275) |
Derivative Liability, Netting Adjustment | (801) | (662) |
Derivative Assets | 596 | 765 |
Derivative Liability | 502 | 606 |
Cumulative counterparty credit risk valuation adjustment | 3 | 2 |
Cumulative credit risk valuation adjustment related to our credit quality (less than $1 million | 1 | 1 |
Derivatives designated as accounting hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 147,314 | 143,026 |
Derivative Assets, Gross Amount | 124 | 152 |
Derivative Liabilities, Gross Amount | 340 | 528 |
Derivatives designated as accounting hedges | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 139,114 | 133,904 |
Derivative Assets, Gross Amount | 56 | 132 |
Derivative Liabilities, Gross Amount | 116 | 289 |
Derivatives designated as accounting hedges | Interest rate contracts | Fair value hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 63,064 | 56,604 |
Derivative Assets, Gross Amount | 42 | 102 |
Derivative Liabilities, Gross Amount | 18 | 164 |
Derivatives designated as accounting hedges | Interest rate contracts | Cash flow hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 76,050 | 77,300 |
Derivative Assets, Gross Amount | 14 | 30 |
Derivative Liabilities, Gross Amount | 98 | 125 |
Derivatives designated as accounting hedges | Foreign exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 8,200 | 9,122 |
Derivative Assets, Gross Amount | 68 | 20 |
Derivative Liabilities, Gross Amount | 224 | 239 |
Derivatives designated as accounting hedges | Foreign exchange contracts | Cash flow hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 5,684 | 6,086 |
Derivative Assets, Gross Amount | 63 | 19 |
Derivative Liabilities, Gross Amount | 37 | 75 |
Derivatives designated as accounting hedges | Foreign exchange contracts | Net investment hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 2,516 | 3,036 |
Derivative Assets, Gross Amount | 5 | 1 |
Derivative Liabilities, Gross Amount | 187 | 164 |
Derivatives not designated as accounting hedges | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 57,579 | 53,586 |
Derivative Assets, Gross Amount | 790 | 888 |
Derivative Liabilities, Gross Amount | 963 | 740 |
Derivatives not designated as accounting hedges | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 56,474 | 52,377 |
Derivative Assets, Gross Amount | 788 | 888 |
Derivative Liabilities, Gross Amount | 940 | 735 |
Derivatives not designated as accounting hedges | Interest rate contracts | Customer accommodation | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 50,853 | 48,520 |
Derivative Assets, Gross Amount | 766 | 848 |
Derivative Liabilities, Gross Amount | 927 | 727 |
Derivatives not designated as accounting hedges | Interest rate contracts | Other interest rate exposures | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 5,621 | 3,857 |
Derivative Assets, Gross Amount | 22 | 40 |
Derivative Liabilities, Gross Amount | 13 | 8 |
Derivatives not designated as accounting hedges | Other contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 1,105 | 1,209 |
Derivative Assets, Gross Amount | 2 | 0 |
Derivative Liabilities, Gross Amount | $ 23 | $ 5 |
Derivative Instruments and He75
Derivative Instruments and Hedging Activities - Hedged Items in Fair Value Hedging Relationship (Details) $ in Millions | Mar. 31, 2018USD ($) |
Available-for-sale Securities [Member] | |
hedged items in fair value hedging relationship [Line Items] | |
Carry amount of assets | $ 14,956 |
Hedged Asset Fair Value Hedge Cumulative Increase Decrease | (113) |
Hedged Asset Discontinued Fair Value Hedge Cumulative Increase Decrease | 0 |
Interest-bearing Deposits [Member] | |
hedged items in fair value hedging relationship [Line Items] | |
Carry amount of liabilities | (14,243) |
Hedged Liability Fair Value Hedge Cumulative Increase Decrease | 351 |
Hedged Liability Discontinued Fair Value Hedge Cumulative Increase Decrease | 0 |
Securitized Debt Obligations [Member] | |
hedged items in fair value hedging relationship [Line Items] | |
Carry amount of liabilities | (11,304) |
Hedged Liability Fair Value Hedge Cumulative Increase Decrease | 228 |
Hedged Liability Discontinued Fair Value Hedge Cumulative Increase Decrease | 0 |
Senior And Subordinated Notes [Member] | |
hedged items in fair value hedging relationship [Line Items] | |
Carry amount of liabilities | (27,406) |
Hedged Liability Fair Value Hedge Cumulative Increase Decrease | 533 |
Hedged Liability Discontinued Fair Value Hedge Cumulative Increase Decrease | 372 |
Available-for-sale Securities [Member] | |
hedged items in fair value hedging relationship [Line Items] | |
Amortized cost of closed prepayment assets | 10,300 |
Amortized cost of closed prepayable assets designated in fair value hedges | 3,800 |
Hedged LOLA assets Cumulative Basis Adjustment | $ 1 |
Derivative Instruments and He76
Derivative Instruments and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative, Collateral, Obligation to Return Cash | $ 150 | $ 91 |
Derivative assets | ||
Derivative Assets, Gross Amount | 914 | 1,040 |
Derivative Asset, Offsetting Financial Instruments | (189) | (202) |
Derivative Assets, Offsetting Cash Collateral | (129) | (73) |
Derivative Assets | 596 | 765 |
Derivative Asset, Securities Not Netted | 0 | 0 |
Net Exposure | 596 | 765 |
Derivative, Collateral, Obligation to Return Securities | 1 | 1 |
Derivative, Collateral, Right to Reclaim Cash | 1,200 | $ 966 |
Increase in derivative assets due to LCH Rulebook change | 463 | |
Decrease in derivative liabilities due to LCH Rulebook change | $ 539 |
Derivative Instruments and He77
Derivative Instruments and Hedging Activities - Offsetting Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative liabilities(1)(2) | ||
Derivative Liabilities, Gross Amount | $ 1,303 | $ 1,268 |
Derivative Liability, Offsetting Financial Instruments | (189) | (202) |
Derivative Liability, Offsetting Cash Collateral | (612) | (460) |
Derivative Liability | 502 | 606 |
Derivative Liability, Securities Collateral Not Netted | 0 | 0 |
Net Exposure | 502 | 606 |
Repurchase agreements(3) | ||
Gross Amounts | 656 | 576 |
Securities Sold under Agreements to Repurchase, Asset | 0 | 0 |
Repurchase Agreement, Collateral, Right To Reclaim Cash, Offset | 0 | 0 |
Net Amounts as Recognized | 656 | 576 |
Offsetting Amounts Not Netted, Collateral Pledged | (656) | (576) |
Net Exposure | 0 | 0 |
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 670 | |
Derivative, Collateral, Obligation to Return Cash | 150 | 91 |
Derivative, Collateral, Obligation to Return Securities | 1 | 1 |
Derivative, Collateral, Right to Reclaim Cash | $ 1,200 | $ 966 |
Derivative Instruments and He78
Derivative Instruments and Hedging Activities Gains (losses) recognized in Consolidated Statement of Income on fair Value and Cash flow hedging relationship (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Effects of fair value and cash flow hedges [Line Items] | ||
Interest and Dividend Income, Securities, Operating | $ 452 | $ 416 |
Interest and Fee Income, Loans and Leases | 6,134 | 5,626 |
Other Interest and Dividend Income | 51 | 28 |
Interest Expense, Deposits | 539 | 353 |
Interest Expense, Secured Debt | 107 | 69 |
Interest Expense, Unsecured Debt | 251 | 149 |
Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2 | 17 |
Interest rate contracts | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 22 | 17 |
Fair Value Hedging [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Amortization of basis adjustment | 10 | |
Fair Value Hedging [Member] | Interest income - Investment securities [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (7) | |
Fair Value Hedging [Member] | Interest income - Loans [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | |
Fair Value Hedging [Member] | Interest expense - Deposits [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (7) | |
Fair Value Hedging [Member] | Interest expense - Securitized Debt Obligation [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (8) | |
Fair Value Hedging [Member] | Interest expense - Senior and Subordinated Debt [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (22) | |
Fair Value Hedging [Member] | Interest rate contracts | Interest income - Investment securities [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain or loss on fair value hedges recognized in net interest income | (8) | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | 100 | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (99) | |
Fair Value Hedging [Member] | Interest rate contracts | Interest income - Loans [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain or loss on fair value hedges recognized in net interest income | 0 | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | 0 | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 0 | |
Fair Value Hedging [Member] | Interest rate contracts | Interest income - Other [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain or loss on fair value hedges recognized in net interest income | 0 | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | 0 | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 0 | |
Fair Value Hedging [Member] | Interest rate contracts | Interest expense - Deposits [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain or loss on fair value hedges recognized in net interest income | (2) | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | (160) | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 155 | |
Fair Value Hedging [Member] | Interest rate contracts | Interest expense - Securitized Debt Obligation [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain or loss on fair value hedges recognized in net interest income | (5) | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | (101) | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 98 | |
Fair Value Hedging [Member] | Interest rate contracts | Interest expense - Senior and Subordinated Debt [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain or loss on fair value hedges recognized in net interest income | 10 | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | (357) | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 325 | |
Interest income - Other [Member] | Interest income - Loans [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | |
Cash Flow Hedging [Member] | Interest income - Investment securities [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) On Cash Flow Hedges Recognized In Earnings | (2) | |
Cash Flow Hedging [Member] | Interest income - Loans [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) On Cash Flow Hedges Recognized In Earnings | 8 | |
Cash Flow Hedging [Member] | Interest income - Other [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) On Cash Flow Hedges Recognized In Earnings | 8 | |
Cash Flow Hedging [Member] | Interest expense - Deposits [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) On Cash Flow Hedges Recognized In Earnings | 0 | |
Cash Flow Hedging [Member] | Interest expense - Securitized Debt Obligation [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) On Cash Flow Hedges Recognized In Earnings | 0 | |
Cash Flow Hedging [Member] | Interest expense - Senior and Subordinated Debt [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Gain (Loss) On Cash Flow Hedges Recognized In Earnings | 0 | |
Cash Flow Hedging [Member] | Interest rate contracts | Interest income - Investment securities [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (2) | |
Cash Flow Hedging [Member] | Interest rate contracts | Interest income - Loans [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 8 | |
Cash Flow Hedging [Member] | Interest rate contracts | Interest income - Other [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | |
Cash Flow Hedging [Member] | Interest rate contracts | Interest expense - Deposits [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | |
Cash Flow Hedging [Member] | Interest rate contracts | Interest expense - Securitized Debt Obligation [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | |
Cash Flow Hedging [Member] | Interest rate contracts | Interest expense - Senior and Subordinated Debt [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | |
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Interest income - Investment securities [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | |
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Interest income - Loans [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | |
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Interest income - Other [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 8 | |
Designated as Hedging Instrument [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Net Derivative Gain (losses) Recognized in Earnings | 39 | |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | (45) | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 39 | |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | (6) | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 40 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest rate contracts | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (1) | |
Customer Accommodation Interest Rate Contracts [Member] | Interest rate contracts | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 10 | 10 |
Customer Accommodation Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest rate contracts | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 37 | |
Other Interest Rate Exposures Interest Rate Contracts [Member] | Interest rate contracts | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 12 | 7 |
Other Interest Rate Exposures Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Other Non-Interest Income [Member] | ||
Effects of fair value and cash flow hedges [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 3 |
Derivative Instruments and He79
Derivative Instruments and Hedging Activities Freestanding Derivative (Details) - Other Non-Interest Income [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 2 | $ 17 |
Other Contract [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (20) | 0 |
Interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 22 | 17 |
Customer Accommodation Interest Rate Contracts [Member] | Interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 10 | 10 |
Other Interest Rate Exposures Interest Rate Contracts [Member] | Interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 12 | $ 7 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Preferred Stock (Details) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($) | |
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 | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Securities held to maturity | $ 23,075 | $ 28,984 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI beginning balance | (926) | $ (949) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (201) | ||
Other comprehensive income (loss) before reclassifications | (554) | 34 | |
Net realized (gains) losses reclassified from AOCI into earnings | 0 | (19) | |
Other comprehensive income (loss), net of tax | (472) | 15 | |
AOCI ending balance | (1,599) | (934) | |
Accumulated Net Unrealized Investment Gain (Loss) | Available-for-sale Securities | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI beginning balance | 17 | (4) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 3 | ||
Other comprehensive income (loss) before reclassifications | (254) | 36 | |
Net realized (gains) losses reclassified from AOCI into earnings | (6) | 0 | |
Other comprehensive income (loss), net of tax | (585) | 36 | |
AOCI ending balance | (565) | 32 | |
Accumulated Net Unrealized Investment Gain (Loss) | Securities Held to Maturity | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI beginning balance | (524) | (621) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (113) | ||
Other comprehensive income (loss) before reclassifications | 0 | 0 | |
Net realized (gains) losses reclassified from AOCI into earnings | 18 | 23 | |
Other comprehensive income (loss), net of tax | 425 | 23 | |
AOCI ending balance | (212) | (598) | |
Cash Flow Hedges | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI beginning balance | (281) | (78) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (63) | ||
Other comprehensive income (loss) before reclassifications | (307) | (26) | |
Held-to-maturity Securities, Transferred to Available-for-sale Securities, Unrealized Gain (Loss) | 0 | ||
Net realized (gains) losses reclassified from AOCI into earnings | (11) | (40) | |
Other comprehensive income (loss), net of tax | (318) | (66) | |
AOCI ending balance | (662) | (144) | |
Foreign Currency Translation Adjustments | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI beginning balance | (138) | (222) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 0 | ||
Other comprehensive income (loss) before reclassifications | 7 | 17 | |
Held-to-maturity Securities, Transferred to Available-for-sale Securities, Unrealized Gain (Loss) | 0 | ||
Net realized (gains) losses reclassified from AOCI into earnings | 0 | 0 | |
Other comprehensive income (loss), net of tax | 7 | 17 | |
AOCI ending balance | (131) | (205) | |
Other | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI beginning balance | 0 | (24) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (28) | ||
Other comprehensive income (loss) before reclassifications | 0 | 7 | |
Held-to-maturity Securities, Transferred to Available-for-sale Securities, Unrealized Gain (Loss) | 0 | ||
Net realized (gains) losses reclassified from AOCI into earnings | (1) | (2) | |
Other comprehensive income (loss), net of tax | (1) | 5 | |
AOCI ending balance | (29) | (19) | |
Accounting Standards Update 2017-12 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Securities held to maturity | 9,000 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI ending balance | 107 | ||
Accounting Standards Update 2017-12 | Accumulated Net Unrealized Investment Gain (Loss) | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated Other Comprehensive Income (loss), before tax | 107 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI ending balance | 82 | ||
Accounting Standards Update 2017-12 | Accumulated Net Unrealized Investment Gain (Loss) | Available-for-sale Securities | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI ending balance | (325) | ||
Accounting Standards Update 2017-12 | Accumulated Net Unrealized Investment Gain (Loss) | Securities Held to Maturity | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
AOCI ending balance | 407 | ||
Net investment hedges | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ 60 | $ 22 |
Stockholders' Equity - Reclassi
Stockholders' Equity - Reclassifications from AOCI (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest income | $ 5,718 | $ 5,474 |
Non-interest income | 108 | 120 |
Income from continuing operations before income taxes | 1,662 | 1,109 |
Income tax provision (benefit) | 319 | 314 |
Net income | 1,346 | 810 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Net income | 0 | 19 |
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 | 8 | 0 |
Income tax provision (benefit) | 2 | 0 |
Net income | 6 | 0 |
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 | (24) | (36) |
Income tax provision (benefit) | (6) | (13) |
Net income | (18) | (23) |
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 | 14 | 64 |
Income tax provision (benefit) | 3 | 24 |
Net income | 11 | 40 |
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 | 6 | 58 |
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign exchange contracts | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest income | 8 | 6 |
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 | 1 | 2 |
Net income | $ 1 | $ 2 |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Other Comprehensive Income Loss and Related Tax Impact (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Before Tax | ||
Net unrealized gains (losses) on securities available for sale | $ (771) | $ 46 |
Net changes in securities held to maturity | 559 | 36 |
Net unrealized gains (losses) on cash flow hedges | (418) | (104) |
Foreign currency translation adjustments | (12) | 4 |
Other | (1) | 7 |
Other comprehensive income before taxes | (643) | (11) |
Provision (Benefit) | ||
Net unrealized gains (losses) on securities available for sale | (186) | 10 |
Net changes in securities held to maturity | 134 | 13 |
Net unrealized losses on cash flow hedges | (100) | (38) |
Foreign currency translation adjustments | (19) | (13) |
Other | 0 | 2 |
Other comprehensive income (loss), provision (benefit) | (171) | (26) |
After Tax | ||
Net unrealized gains (losses) on securities available for sale | (585) | 36 |
Net changes in securities held to maturity | 425 | 23 |
Net unrealized losses on cash flow hedges | (318) | (66) |
Foreign currency translation adjustments | 7 | 17 |
Other | (1) | 5 |
Other comprehensive income (loss), net of tax | $ (472) | $ 15 |
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Income from continuing operations, net of tax | $ 1,343 | $ 795 |
Income from discontinued operations, net of tax | 3 | 15 |
Net income | 1,346 | 810 |
Dividends and undistributed earnings allocated to participating securities | (10) | (5) |
Preferred stock dividends | (52) | (53) |
Net income available to common stockholders | $ 1,284 | $ 752 |
Total weighted-average basic shares outstanding | 486.9 | 482.3 |
Effect of dilutive securities: | ||
Stock options | 2 | 2.9 |
Other contingently issuable shares | 1.2 | 1.4 |
Warrants | 0.7 | 1.3 |
Total effect of dilutive securities | 3.9 | 5.6 |
Total weighted-average diluted shares outstanding | 490.8 | 487.9 |
Basic earnings per common share: | ||
Net income from continuing operations (in dollars per share) | $ 2.63 | $ 1.53 |
Income (loss) from discontinued operations (in dollars per share) | 0.01 | 0.03 |
Net income per basic common share (in dollars per share) | 2.64 | 1.56 |
Diluted earnings per common share: | ||
Net income from continuing operations (in dollars per share) | 2.61 | 1.51 |
Income (loss) from discontinued operations (in dollars per share) | 0.01 | 0.03 |
Net income per diluted common share (in dollars per share) | $ 2.62 | $ 1.54 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
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) | 222,000 | |
Minimum exercise price range | $ 86.34 | |
Maximum exercise price range | $ 86.34 | |
Warrant | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Class of Warrant or Right, Outstanding | 1,200,000 | 1,500,000 |
Performance Shares [Member] | ||
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) | 107,000 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Securities available for sale: | |||
Securities available for sale | $ 47,155 | $ 37,655 | |
Derivative Assets, Gross Amount | 914 | 1,040 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (318) | (275) | |
Other assets: | |||
Consumer MSRs | 92 | ||
Liabilities: | |||
Derivative Liabilities, Gross Amount | 1,303 | 1,268 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (801) | (662) | |
Net valuation allowance | 2 | 2 | |
Fair Value, Measurements, Recurring [Member] | |||
Securities available for sale: | |||
Securities available for sale | 47,155 | 37,655 | |
Derivative Assets, Gross Amount | 596 | 765 | |
Other assets: | |||
Other assets, fair value | 476 | 545 | |
Total assets | 48,227 | 38,965 | |
Liabilities: | |||
Derivative Liabilities, Gross Amount | 502 | 606 | |
Total liabilities | 502 | 606 | |
Fair Value, Measurements, Recurring [Member] | Level 1 | |||
Securities available for sale: | |||
Securities available for sale | 5,456 | 5,491 | |
Derivative Assets, Gross Amount | 0 | 1 | |
Other assets: | |||
Other assets, fair value | 300 | 281 | |
Deferred compensation plan assets | 291 | 281 | |
Equity securities | 9 | ||
Total assets | 5,756 | 5,773 | |
Liabilities: | |||
Derivative Liabilities, Gross Amount | 0 | 1 | |
Total liabilities | 0 | 1 | |
Fair Value, Measurements, Recurring [Member] | Level 2 | |||
Securities available for sale: | |||
Securities available for sale | 41,067 | 31,531 | |
Derivative Assets, Gross Amount | 878 | 1,002 | |
Other assets: | |||
Other assets, fair value | 0 | 0 | |
Total assets | 41,945 | 32,533 | |
Liabilities: | |||
Derivative Liabilities, Gross Amount | 1,258 | 1,243 | |
Total liabilities | 1,258 | 1,243 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | |||
Securities available for sale: | |||
Securities available for sale | 632 | 633 | |
Derivative Assets, Gross Amount | 36 | 37 | $ 53 |
Other assets: | |||
Other assets, fair value | 176 | 264 | |
Retained interests in securitizations | 176 | 172 | |
Consumer MSRs | 92 | ||
Total assets | 844 | 934 | |
Liabilities: | |||
Derivative Liabilities, Gross Amount | 45 | 24 | $ 31 |
Total liabilities | 45 | 24 | |
US Treasury securities | Fair Value, Measurements, Recurring [Member] | |||
Securities available for sale: | |||
Securities available for sale | 5,251 | 5,171 | |
US Treasury securities | Fair Value, Measurements, Recurring [Member] | Level 1 | |||
Securities available for sale: | |||
Securities available for sale | 5,251 | 5,171 | |
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 | 35,767 | 27,792 | |
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 | 35,153 | 27,178 | |
RMBS | Fair Value, Measurements, Recurring [Member] | Level 3 | |||
Securities available for sale: | |||
Securities available for sale | 614 | 614 | |
CMBS | Fair Value, Measurements, Recurring [Member] | |||
Securities available for sale: | |||
Securities available for sale | 4,460 | 3,175 | |
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 | 4,447 | 3,161 | |
CMBS | Fair Value, Measurements, Recurring [Member] | Level 3 | |||
Securities available for sale: | |||
Securities available for sale | 13 | 14 | |
Other ABS | Fair Value, Measurements, Recurring [Member] | |||
Securities available for sale: | |||
Securities available for sale | 330 | 512 | |
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 | 330 | 512 | |
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 | 1,347 | 1,005 | |
Other securities | Fair Value, Measurements, Recurring [Member] | Level 1 | |||
Securities available for sale: | |||
Securities available for sale | 205 | 320 | |
Other securities | Fair Value, Measurements, Recurring [Member] | Level 2 | |||
Securities available for sale: | |||
Securities available for sale | 1,137 | 680 | |
Other securities | Fair Value, Measurements, Recurring [Member] | Level 3 | |||
Securities available for sale: | |||
Securities available for sale | $ 5 | $ 5 |
Fair Value Measurement Fair Val
Fair Value Measurement Fair Value Measurement - Schedule of Level 3 Inputs Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | $ 914 | $ 1,040 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 1,303 | 1,268 | |
Available-for-sale Securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 633 | $ 578 | |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 9 | 9 | |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | (2) | 8 | |
Purchases | 0 | 60 | |
Sales | 0 | 0 | |
Issuances | 0 | 0 | |
Settlements | (22) | (23) | |
Transfers Into Level 3 | 61 | 53 | |
Transfers Out of Level 3 | (47) | (149) | |
Ending balance | 632 | 536 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 9 | 9 | |
RMBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 614 | 518 | |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 9 | 9 | |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | (2) | 8 | |
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Issuances | 0 | 0 | |
Settlements | (21) | (22) | |
Transfers Into Level 3 | 61 | 53 | |
Transfers Out of Level 3 | (47) | (117) | |
Ending balance | 614 | 449 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 9 | 0 | |
CMBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 14 | 51 | |
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 | 60 | |
Sales | 0 | 0 | |
Issuances | 0 | 0 | |
Settlements | (1) | (1) | |
Transfers Into Level 3 | 0 | 0 | |
Transfers Out of Level 3 | 0 | (32) | |
Ending balance | 13 | 78 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 9 | |
Other securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 5 | 9 | |
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 | 0 | |
Sales | 0 | 0 | |
Issuances | 0 | 0 | |
Settlements | 0 | 0 | |
Transfers Into Level 3 | 0 | 0 | |
Transfers Out of Level 3 | 0 | 0 | |
Ending balance | 5 | 9 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 0 | |
Consumer MSRs | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 92 | 80 | |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 3 | 1 | |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | |
Purchases | 0 | 0 | |
Sales | (97) | 0 | |
Issuances | 2 | 7 | |
Settlements | 0 | (2) | |
Transfers Into Level 3 | 0 | 0 | |
Transfers Out of Level 3 | 0 | 0 | |
Ending balance | 0 | 86 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 1 | |
Retained interest in securitizations | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 172 | 201 | |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 4 | (6) | |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | |
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Issuances | 0 | 0 | |
Settlements | 0 | 0 | |
Transfers Into Level 3 | 0 | 0 | |
Transfers Out of Level 3 | 0 | 0 | |
Ending balance | 176 | 195 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 4 | (6) | |
Net derivative assets (liabilities) | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 13 | 18 | |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | (22) | 0 | |
Total Gains or (Losses) (Realized/Unrealized), Included in OCI | 0 | 0 | |
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Issuances | 1 | 12 | |
Settlements | (1) | (7) | |
Transfers Into Level 3 | 0 | 0 | |
Transfers Out of Level 3 | 0 | (1) | |
Ending balance | (9) | 22 | |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | (22) | 0 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 596 | 765 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 502 | 606 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 36 | 53 | 37 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 45 | $ 31 | $ 24 |
Fair Value Measurement - Sche88
Fair Value Measurement - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Quantitative Information about Level 3 Fair Value Measurements (Detail) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($)$ / SecurityLoan | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 47,155 | $ 37,655 |
Consumer MSRs | 92 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 47,155 | 37,655 |
Fair Value, Measurements, Recurring [Member] | RMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 35,767 | 27,792 |
Fair Value, Measurements, Recurring [Member] | CMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 4,460 | 3,175 |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | 632 | 633 |
Consumer MSRs | 92 | |
Retained interests in securitizations | 176 | 172 |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 614 | $ 614 |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 2.00% | 2.00% |
Voluntary prepayment rate (percent) | 0.00% | 0.00% |
Default rate (percent) | 0.00% | 0.00% |
Loss severity (percent) | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 10.00% | 9.00% |
Voluntary prepayment rate (percent) | 17.00% | 15.00% |
Default rate (percent) | 8.00% | 8.00% |
Loss severity (percent) | 90.00% | 90.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | RMBS | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 5.00% | 5.00% |
Voluntary prepayment rate (percent) | 4.00% | 4.00% |
Default rate (percent) | 3.00% | 3.00% |
Loss severity (percent) | 64.00% | 62.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | CMBS | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Securities available for sale | $ 13 | $ 14 |
Fair Value, Measurements, Recurring [Member] | Level 3 | CMBS | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 3.00% |
Voluntary 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% | 3.00% |
Voluntary 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% | 3.00% |
Voluntary 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 | $ 5 | $ 5 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Foreign government bonds | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Yield (percent) | 3.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Consumer MSRs | $ 92 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Total prepayment rate (percent) | 7.00% | |
Discount rate (percent) | 14.00% | |
Option adjusted spread rate (percent) | 2.00% | |
Servicing cost ($ per loan) | $ / SecurityLoan | 75 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Total prepayment rate (percent) | 30.00% | |
Discount rate (percent) | 14.00% | |
Option adjusted spread rate (percent) | 15.00% | |
Servicing cost ($ per loan) | $ / SecurityLoan | 100 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | Consumer MSRs | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Total prepayment rate (percent) | 16.00% | |
Discount rate (percent) | 14.00% | |
Option adjusted spread rate (percent) | 4.58% | |
Servicing cost ($ per loan) | $ / SecurityLoan | 76 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | Retained interest in securitizations | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Retained interests in securitizations | $ 176 | $ 172 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Retained interest in securitizations | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Life of receivables (months) | 3 months | 6 months |
Voluntary prepayment rate (percent) | 2.00% | 2.00% |
Default rate (percent) | 2.00% | 1.00% |
Loss severity (percent) | 52.00% | 3.00% |
Discount rate (percent) | 4.00% | 3.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Retained interest in securitizations | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Life of receivables (months) | 61 months | 79 months |
Voluntary prepayment rate (percent) | 13.00% | 12.00% |
Default rate (percent) | 5.00% | 6.00% |
Loss severity (percent) | 114.00% | 115.00% |
Discount rate (percent) | 4.00% | 10.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Net derivative assets (liabilities) | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | $ (9) | $ 13 |
Fair Value, Measurements, Recurring [Member] | Level 3 | Net derivative assets (liabilities) | Discounted cash flows | Minimum | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 3.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Net derivative assets (liabilities) | Discounted cash flows | Maximum | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 3.00% | 2.00% |
Fair Value, Measurements, Recurring [Member] | Level 3 | Net derivative assets (liabilities) | Discounted cash flows | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Swap rates (percent) | 3.00% | 2.00% |
Fair Value Measurement - Sche89
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 1,512 | 949 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 245,852 | 251,468 |
Loans held for sale | 0 | 3 |
Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 98 | 182 |
Loans held for sale | 166 | 178 |
Other assets, fair value | 51 | 35 |
Total | 315 | 395 |
Nonrecurring | Other Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity investments accounted for under measurement alternative | 17 | |
Foreclosed property and repossessed assets | 25 | 17 |
Long lived assets held for sale | 9 | 18 |
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 | 166 | 177 |
Other assets, fair value | 0 | 0 |
Total | 166 | 177 |
Nonrecurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net loans held for investment | 98 | 182 |
Loans held for sale | 0 | 1 |
Other assets, fair value | 51 | 35 |
Total | $ 149 | $ 218 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - Level 3 - Loans Held for Investment - Appraisal Value | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 56.00% | 77.00% |
Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-recoverable rate | 14.00% | 21.00% |
Fair Value Measurement - Sche91
Fair Value Measurement - Schedule of Earnings Related to Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Assets: | ||
Loans held for investment | $ (76) | $ (38) |
Loans held for sale | 0 | 0 |
Other assets | (11) | (5) |
Total | $ (87) | $ (43) |
Fair Value Measurement - Sche92
Fair Value Measurement - Schedule of Fair Value of Financial Instruments (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets: | ||
Securities held to maturity | $ 22,841 | $ 29,437 |
Level 1 | ||
Financial assets: | ||
Cash and cash equivalents | 4,220 | 4,458 |
Restricted cash for securitization investors | 309 | 312 |
Securities held to maturity | 200 | 200 |
Net loans held for investment | 0 | 0 |
Loans held for sale | 0 | 0 |
Interest receivable | 0 | 0 |
Other investments | 0 | 0 |
Financial liabilities: | ||
Deposits with defined maturities | 0 | |
Deposits | 26,404 | |
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 | 9,788 | 9,582 |
Restricted cash for securitization investors | 0 | 0 |
Securities held to maturity | 22,599 | 29,217 |
Net loans held for investment | 0 | 0 |
Loans held for sale | 1,512 | 949 |
Interest receivable | 1,496 | 1,536 |
Other investments | 1,341 | 1,680 |
Financial liabilities: | ||
Deposits with defined maturities | 30,679 | |
Deposits | 217,328 | |
Securitized debt obligations | 18,752 | 20,122 |
Senior and subordinated notes | 31,469 | 31,392 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 656 | 576 |
Other borrowings | 274 | 8,892 |
Interest payable | 353 | 413 |
Level 3 | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash for securitization investors | 0 | 0 |
Securities held to maturity | 42 | 20 |
Net loans held for investment | 245,852 | 251,468 |
Loans held for sale | 0 | 3 |
Interest receivable | 0 | 0 |
Other investments | 0 | 9 |
Financial liabilities: | ||
Deposits with defined maturities | 0 | |
Deposits | 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 | 14,008 | 14,040 |
Restricted cash for securitization investors | 309 | 312 |
Securities held to maturity | 23,075 | 28,984 |
Net loans held for investment | 240,689 | 246,971 |
Loans held for sale | 1,498 | 971 |
Interest receivable | 1,496 | 1,536 |
Other investments | 1,341 | 1,689 |
Financial liabilities: | ||
Deposits with defined maturities | 30,706 | |
Deposits | 243,702 | |
Securitized debt obligations | 18,665 | 20,010 |
Senior and subordinated notes | 31,051 | 30,755 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 656 | 576 |
Other borrowings | 274 | 8,892 |
Interest payable | 353 | 413 |
Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 14,008 | 14,040 |
Restricted cash for securitization investors | 309 | 312 |
Securities held to maturity | 22,841 | 29,437 |
Net loans held for investment | 245,852 | 251,468 |
Loans held for sale | 1,512 | 952 |
Interest receivable | 1,496 | 1,536 |
Other investments | 1,341 | 1,689 |
Financial liabilities: | ||
Deposits with defined maturities | 30,679 | |
Deposits | 243,732 | |
Securitized debt obligations | 18,752 | 20,122 |
Senior and subordinated notes | 31,469 | 31,392 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 656 | 576 |
Other borrowings | 274 | 8,892 |
Interest payable | $ 353 | $ 413 |
Business Segments and Revenue93
Business Segments and Revenue from Contracts with Customers - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018Segment | |
Segment Reporting Information [Line Items] | |
Number of Operating Segments | 3 |
Business Segments and Revenue94
Business Segments and Revenue from Contracts with Customers - Schedule of Segment Results and Reconciliation (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||
Net interest income | $ 5,718 | $ 5,474 | |
Non-interest income | 1,191 | 1,061 | |
Total net revenue | 6,909 | 6,535 | |
Provision (benefit) for loan, lease and other losses | 1,674 | 1,992 | |
Total non-interest expense | 3,573 | 3,434 | |
Income (loss) from continuing operations before income taxes | 1,662 | 1,109 | |
Income tax provision (benefit) | 319 | 314 | |
Income (loss) from continuing operations, net of tax | 1,343 | 795 | |
Loans held for investment | 248,256 | 240,588 | $ 254,473 |
Total deposits | 250,847 | 241,182 | $ 243,702 |
Operating Segments | Credit Card | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 3,558 | 3,346 | |
Non-interest income | 857 | 738 | |
Total net revenue | 4,415 | 4,084 | |
Provision (benefit) for loan, lease and other losses | 1,456 | 1,717 | |
Total non-interest expense | 2,039 | 1,929 | |
Income (loss) from continuing operations before income taxes | 920 | 438 | |
Income tax provision (benefit) | 213 | 167 | |
Income (loss) from continuing operations, net of tax | 707 | 271 | |
Loans held for investment | 107,576 | 99,213 | |
Total deposits | 0 | 0 | |
Operating Segments | Consumer Banking | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 1,615 | 1,517 | |
Non-interest income | 174 | 195 | |
Total net revenue | 1,789 | 1,712 | |
Provision (benefit) for loan, lease and other losses | 233 | 279 | |
Total non-interest expense | 1,000 | 1,042 | |
Income (loss) from continuing operations before income taxes | 556 | 391 | |
Income tax provision (benefit) | 130 | 143 | |
Income (loss) from continuing operations, net of tax | 426 | 248 | |
Loans held for investment | 74,674 | 73,982 | |
Total deposits | 193,073 | 188,216 | |
Operating Segments | Commercial Banking | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 536 | 566 | |
Non-interest income | 187 | 158 | |
Total net revenue | 723 | 724 | |
Provision (benefit) for loan, lease and other losses | (14) | (2) | |
Total non-interest expense | 403 | 391 | |
Income (loss) from continuing operations before income taxes | 334 | 335 | |
Income tax provision (benefit) | 78 | 122 | |
Income (loss) from continuing operations, net of tax | 256 | 213 | |
Loans held for investment | 65,953 | 67,320 | |
Total deposits | 34,449 | 33,735 | |
Decrease in revenue due to impact of federal tax rate and measurement change | 28 | ||
Other | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 9 | 45 | |
Non-interest income | (27) | (30) | |
Total net revenue | (18) | 15 | |
Provision (benefit) for loan, lease and other losses | (1) | (2) | |
Total non-interest expense | 131 | 72 | |
Income (loss) from continuing operations before income taxes | (148) | (55) | |
Income tax provision (benefit) | (102) | (118) | |
Income (loss) from continuing operations, net of tax | (46) | 63 | |
Loans held for investment | 53 | 73 | |
Total deposits | $ 23,325 | $ 19,231 |
Business Segments and Revenue95
Business Segments and Revenue from Contracts with Customers - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | $ 804 | |
Revenue from other sources | 387 | |
Total non-interest income | 1,191 | $ 1,061 |
Interchange Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 643 | |
Service Charges and Other Customer-related Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 161 | |
Other | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 0 | |
Revenue from other sources | (27) | |
Total non-interest income | (27) | (30) |
Other | Interchange Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 0 | |
Other | Service Charges and Other Customer-related Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 0 | |
Credit Card | Operating Segments | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 596 | |
Revenue from other sources | 261 | |
Total non-interest income | 857 | 738 |
Credit Card | Operating Segments | Interchange Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 594 | |
Credit Card | Operating Segments | Service Charges and Other Customer-related Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 2 | |
Consumer Banking | Operating Segments | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 169 | |
Revenue from other sources | 5 | |
Total non-interest income | 174 | 195 |
Consumer Banking | Operating Segments | Interchange Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 42 | |
Consumer Banking | Operating Segments | Service Charges and Other Customer-related Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 127 | |
Commercial Banking | Operating Segments | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 39 | |
Revenue from other sources | 148 | |
Total non-interest income | 187 | $ 158 |
Commercial Banking | Operating Segments | Interchange Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | 7 | |
Commercial Banking | Operating Segments | Service Charges and Other Customer-related Fees | ||
Disaggregation of Revenue [Line Items] | ||
Total contract revenue | $ 32 |
Commitments, Contingencies, G96
Commitments, Contingencies, Guarantees, and Others Commitments, Contingencies, Guarantees, and Others - Schedule of letter of credit and other loan commitments (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||
Letter of Credit Issued Contractual Amount and Unused Commitment to Extend Credit | $ 368,341 | $ 385,367 |
Off-balance Sheet Lending Commitment Carrying Value | 117 | 127 |
Credit Card Portfolio Segment [Member] | ||
Loss Contingencies [Line Items] | ||
Unused Commitments to Extend Credit | 334,176 | 351,481 |
Other Portfolio Segments, Excluding Credit Card | ||
Loss Contingencies [Line Items] | ||
Unused Commitments to Extend Credit | 32,231 | 31,840 |
Advised Line of Credit | 1,100 | 1,000 |
Off-balance Sheet Lending Commitment Carrying Value | 77 | 84 |
Letter of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 1,934 | 2,046 |
Off-balance Sheet Lending Commitment Carrying Value | $ 40 | $ 43 |
Commitments, Contingencies, G97
Commitments, Contingencies, Guarantees, and Others - Guarantees, Loss Sharing, U.K Cross Sell (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
GPMH [Member] | ||
Loss Contingencies [Line Items] | ||
Loss contingency accrual | $ 79 | $ 78 |
Insurance Claims [Member] | ||
Loss Contingencies [Line Items] | ||
Loss contingency accrual | 165 | 249 |
Loss Contingency, Range of Possible Loss, Portion Not Accrued | 150 | |
Loss Sharing Agreement | ||
Loss Contingencies [Line Items] | ||
Guarantee Obligation | $ 63 | $ 60 |
Commitments, Contingencies, G98
Commitments, Contingencies, Guarantees, and Others - Litigation (Details) $ in Millions | 1 Months Ended | 3 Months Ended | |
Jul. 31, 2012USD ($) | Jul. 31, 2012USD ($)trustsummon | Mar. 31, 2018USD ($) | |
Loss Contingencies [Line Items] | |||
Loss contingency, estimate of possible loss | $ 550 | ||
Pending Litigation | Interchange Litigation | |||
Loss Contingencies [Line Items] | |||
Litigation Settlement, Attributable to Reporting Entity and Third Party, Percent of Transactions | 0.10% | ||
Litigation settlement, attributable to reporting entity and third party | $ 6,600 | ||
Litigation settlement, attributable to reporting entity and third party, period of payment of settlement | 8 months | ||
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 |