Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Jan. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-K | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Registrant Name | 'CAPITAL ONE FINANCIAL CORP | ' |
Entity Central Index Key | '0000927628 | ' |
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 | ' | 572,812,828 |
Entity Public Float | $36,655,693,401 | ' |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income: | ' | ' | ' |
Loans, including loans held for sale | $18,222 | $17,544 | $13,779 |
Investment securities | 1,575 | 1,329 | 1,137 |
Other | 101 | 91 | 71 |
Total interest income | 19,898 | 18,964 | 14,987 |
Interest expense: | ' | ' | ' |
Deposits | 1,241 | 1,403 | 1,187 |
Securitized debt obligations | 183 | 271 | 422 |
Senior and subordinated notes | 315 | 345 | 300 |
Other borrowings | 53 | 356 | 337 |
Total interest expense | 1,792 | 2,375 | 2,246 |
Net interest income | 18,106 | 16,589 | 12,741 |
Provision for credit losses | 3,453 | 4,415 | 2,360 |
Net interest income after provision for credit losses | 14,653 | 12,174 | 10,381 |
Non-interest income: | ' | ' | ' |
Service charges and other customer-related fees | 2,118 | 2,106 | 1,979 |
Interchange fees, net | 1,896 | 1,647 | 1,318 |
Total other-than-temporary impairment | -37 | -38 | -131 |
Less: Portion of other-than-temporary impairment recorded in AOCI | -4 | -14 | 110 |
Net other-than-temporary impairment recognized in earnings | -41 | -52 | -21 |
Bargain purchase gain | 0 | 594 | 0 |
Other | 305 | 512 | 262 |
Total non-interest income | 4,278 | 4,807 | 3,538 |
Non-interest expense: | ' | ' | ' |
Salaries and associate benefits | 4,432 | 3,876 | 3,023 |
Occupancy and equipment | 1,504 | 1,327 | 1,025 |
Marketing | 1,373 | 1,364 | 1,337 |
Professional services | 1,303 | 1,270 | 1,198 |
Communications and data processing | 885 | 778 | 681 |
Amortization of intangibles | 671 | 609 | 222 |
Acquisition-related | 193 | 336 | 45 |
Other | 2,153 | 2,386 | 1,801 |
Total non-interest expense | 12,514 | 11,946 | 9,332 |
Income from continuing operations before income taxes | 6,417 | 5,035 | 4,587 |
Income tax provision | 2,025 | 1,301 | 1,334 |
Income from continuing operations, net of tax | 4,392 | 3,734 | 3,253 |
Loss from discontinued operations, net of tax | -233 | -217 | -106 |
Net income | 4,159 | 3,517 | 3,147 |
Dividends and undistributed earnings allocated to participating securities | -17 | -15 | -26 |
Preferred stock dividends | -53 | -15 | 0 |
Net income available to common stockholders | $4,089 | $3,487 | $3,121 |
Basic earnings per common share: | ' | ' | ' |
Net income from continuing operations | $7.45 | $6.60 | $7.08 |
Loss from discontinued operations | ($0.40) | ($0.39) | ($0.23) |
Net income per basic common share | $7.05 | $6.21 | $6.85 |
Diluted earnings per common share: | ' | ' | ' |
Net income from continuing operations | $7.35 | $6.54 | $7.03 |
Loss from discontinued operations | ($0.39) | ($0.38) | ($0.23) |
Net income per diluted common share | $6.96 | $6.16 | $6.80 |
Dividends paid per common share | $0.95 | $0.20 | $0.20 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $4,159 | $3,517 | $3,147 |
Other comprehensive income (loss) before taxes: | ' | ' | ' |
Net unrealized gains (losses) on securities available for sale | -961 | 673 | -119 |
Net unrealized (losses) on securities held to maturity | -1,435 | 0 | 0 |
Net unrealized gains (losses) on cash flow hedges | -250 | 120 | 44 |
Foreign currency translation adjustments | 8 | 81 | -13 |
Other | 49 | -1 | -21 |
Other comprehensive income (loss) before taxes | -2,589 | 873 | -109 |
Income tax provision (benefit) related to other comprehensive income | -978 | 303 | -30 |
Other comprehensive income (loss), net of tax | -1,611 | 570 | -79 |
Comprehensive income | $2,548 | $4,087 | $3,068 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $2,821 | $3,440 |
Interest-bearing deposits with banks | 3,131 | 7,617 |
Federal funds sold and securities purchased under agreements to resell | 339 | 1 |
Total cash and cash equivalents | 6,291 | 11,058 |
Restricted cash for securitization investors | 874 | 428 |
Securities available for sale, at fair value | 41,800 | 63,979 |
Securities held to maturity, at carrying value | 19,132 | 9 |
Loans held for investment: | ' | ' |
Unsecuritized loans held for investment | 157,651 | 162,059 |
Restricted loans for securitization investors | 39,548 | 43,830 |
Total loans held for investment | 197,199 | 205,889 |
Less: Allowance for loan and lease losses | -4,315 | -5,156 |
Net loans held for investment | 192,884 | 200,733 |
Loans held for sale, at lower of cost or fair value | 218 | 201 |
Premises and equipment, net | 3,839 | 3,587 |
Interest receivable | 1,418 | 1,694 |
Goodwill | 13,978 | 13,904 |
Other | 16,614 | 17,325 |
Total assets | 297,048 | 312,918 |
Liabilities: | ' | ' |
Interest payable | 307 | 450 |
Customer deposits: | ' | ' |
Non-interest bearing deposits | 22,643 | 22,467 |
Interest bearing deposits | 181,880 | 190,018 |
Total customer deposits | 204,523 | 212,485 |
Securitized debt obligations | 10,289 | 11,398 |
Other debt: | ' | ' |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 |
Senior and subordinated notes | 13,134 | 12,686 |
Other borrowings | 16,316 | 24,578 |
Total other debt | 30,365 | 38,512 |
Other liabilities | 9,820 | 9,574 |
Total liabilities | 255,304 | 272,419 |
Commitments, contingencies and guarantees | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, par value $.01 per share; 50,000,000 shares authorized; 875,000 shares issued and outstanding as of December 31, 2013 and 2012, respectively | 0 | 0 |
Common stock, par value $.01 per share; 1,000,000,000 shares authorized; 637,151,800 and 631,806,585 shares issued as of December 31, 2013 and 2012, respectively, and 572,675,375 and 582,207,133 shares outstanding as of December 31, 2013 and 2012, respectively | 6 | 6 |
Additional paid-in capital, net | 26,526 | 26,188 |
Retained earnings | 20,404 | 16,853 |
Accumulated other comprehensive income (loss) | -872 | 739 |
Less: Treasury stock, at cost; par value $.01 per share; 64,476,425 and 49,599,452 shares as of December 31, 2013 and 2012, respectively | -4,320 | -3,287 |
Total stockholders' equity | 41,744 | 40,499 |
Total liabilities and stockholders' equity | $297,048 | $312,918 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
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 | 875,000 | 875,000 |
Preferred stock, shares outstanding | 875,000 | 875,000 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, issued | 637,151,800 | 631,806,585 |
Common stock, shares outstanding | 572,675,375 | 582,207,133 |
Treasury stock, at cost; par value | $0.01 | $0.01 |
Treasury stock, at cost shares | 64,476,425 | 49,599,452 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Millions, except Share data | |||||||
Balance, Amount at Dec. 31, 2010 | $26,541 | $0 | $5 | $19,084 | $10,406 | $248 | ($3,202) |
Balance, Shares at Dec. 31, 2010 | ' | 0 | 504,801,064 | ' | ' | ' | ' |
Comprehensive income (loss) | 3,068 | ' | ' | ' | 3,147 | -79 | ' |
Cash dividends-common stock | -91 | ' | ' | ' | -91 | ' | ' |
Purchases of treasury stock | -42 | ' | ' | ' | ' | ' | -42 |
Issuances of stock (in shares) | ' | ' | 2,606,736 | ' | ' | ' | ' |
Issuances of common stock and restricted stock, net of forfeitures | 40 | ' | ' | 40 | ' | ' | ' |
Exercise of stock options and tax benefits of exercises and restricted stock vesting (in shares) | ' | ' | 1,186,508 | ' | ' | ' | ' |
Exercise of stock options and tax benefits of exercises and restricted stock vesting | 57 | ' | ' | 57 | ' | ' | ' |
Compensation expense for restricted stock awards and stock options | 93 | ' | ' | 93 | ' | ' | ' |
Balance, Amount at Dec. 31, 2011 | 29,666 | 0 | 5 | 19,274 | 13,462 | 169 | -3,244 |
Balance, Shares at Dec. 31, 2011 | ' | 0 | 508,594,308 | ' | ' | ' | ' |
Comprehensive income (loss) | 4,087 | ' | ' | ' | 3,517 | 570 | ' |
Cash dividends-common stock | -111 | ' | ' | ' | -111 | ' | ' |
Cash dividends-preferred stock | -15 | ' | ' | ' | -15 | ' | ' |
Purchases of treasury stock | -43 | ' | ' | ' | ' | ' | -43 |
Issuances of stock (in shares) | ' | 875,000 | 67,368,854 | ' | ' | ' | ' |
Issuances of common stock and restricted stock, net of forfeitures | 3,233 | ' | ' | 3,233 | ' | ' | ' |
Issuance of common stock related to acquisition (in shares) | ' | ' | 54,028,086 | ' | ' | ' | ' |
Issuance of common stock related to acquisition | 2,638 | ' | 1 | 2,637 | ' | ' | ' |
Exercise of stock options and tax benefits of exercises and restricted stock vesting (in shares) | ' | ' | 1,815,337 | ' | ' | ' | ' |
Exercise of stock options and tax benefits of exercises and restricted stock vesting | 80 | ' | ' | 80 | ' | ' | ' |
Issuance of preferred stock | 853 | ' | ' | 853 | ' | ' | ' |
Compensation expense for restricted stock awards and stock options | 111 | ' | ' | 111 | ' | ' | ' |
Balance, Amount at Dec. 31, 2012 | 40,499 | 0 | 6 | 26,188 | 16,853 | 739 | -3,287 |
Balance, Shares at Dec. 31, 2012 | ' | 875,000 | 631,806,585 | ' | ' | ' | ' |
Comprehensive income (loss) | 2,548 | ' | ' | ' | 4,159 | -1,611 | ' |
Cash dividends-common stock | -555 | ' | ' | ' | -555 | ' | ' |
Cash dividends-preferred stock | -53 | ' | ' | ' | -53 | ' | ' |
Purchases of treasury stock | -1,033 | ' | ' | ' | ' | ' | -1,033 |
Issuances of stock (in shares) | ' | ' | 3,049,705 | ' | ' | ' | ' |
Issuances of common stock and restricted stock, net of forfeitures | 81 | ' | ' | 81 | ' | ' | ' |
Exercise of stock options and tax benefits of exercises and restricted stock vesting (in shares) | ' | ' | 2,295,510 | ' | ' | ' | ' |
Exercise of stock options and tax benefits of exercises and restricted stock vesting | 114 | ' | ' | 114 | ' | ' | ' |
Compensation expense for restricted stock awards and stock options | 143 | ' | ' | 143 | ' | ' | ' |
Balance, Amount at Dec. 31, 2013 | $41,744 | $0 | $6 | $26,526 | $20,404 | ($872) | ($4,320) |
Balance, Shares at Dec. 31, 2013 | ' | 875,000 | 637,151,800 | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statement Of Stockholders Equity [Abstract] | ' | ' | ' |
Cash dividends-common stock (in dollars per share) | $0.95 | $0.20 | $0.20 |
Percentage of cash dividends per annum-preferred stock | 6.00% | 6.00% | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities: | ' | ' | ' |
Income from continuing operations, net of tax | $4,392 | $3,734 | $3,253 |
Loss from discontinued operations, net of tax | -233 | -217 | -106 |
Net income | 4,159 | 3,517 | 3,147 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' |
Provision for credit losses | 3,453 | 4,415 | 2,360 |
Depreciation and amortization, net | 2,065 | 1,862 | 579 |
Net gains on sales of securities available for sale | -7 | -45 | -259 |
Impairment losses on securities available for sale | 41 | 52 | 21 |
Bargain purchase gain | 0 | -594 | 0 |
Loans held for sale: | ' | ' | ' |
Originations and purchases | -2,276 | -1,699 | -1,031 |
Gain (losses) on sales | -32 | -58 | -28 |
Proceeds from sales and paydowns | 2,469 | 2,692 | 1,086 |
Stock plan compensation expense | 240 | 199 | 189 |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' |
(Increase) decrease in interest receivable | 276 | -495 | 41 |
(Increase) decrease in other assets | -245 | -1,033 | -126 |
Increase (decrease) in interest payable | -143 | -47 | -22 |
Increase in other liabilities | 239 | 798 | 1,403 |
Net cash (used in) provided by discontinued operations | -255 | -40 | 95 |
Net cash provided by operating activities | 9,984 | 9,524 | 7,455 |
Investing activities: | ' | ' | ' |
Purchases of securities | -16,062 | -29,257 | -16,060 |
Proceeds from paydowns and maturities of securities | 13,930 | 17,779 | 9,710 |
Proceeds from sales of securities | 2,539 | 16,894 | 9,169 |
Net increase in loans held for investment | 2,291 | -7,605 | -13,777 |
Principal recoveries of loans previously charged off | 1,589 | 1,538 | 1,543 |
Additions of premises and equipment | -818 | -560 | -315 |
Net cash paid for acquisitions | -204 | -17,603 | -1,444 |
Net cash provided by other investing activities | 456 | 0 | 0 |
Net cash used in investing activities | 3,721 | -18,814 | -11,174 |
Financing activities: | ' | ' | ' |
(Decrease) increase in restricted cash for securitization investors | -446 | 363 | 811 |
Net increase (decrease) in deposits | -7,972 | -156 | 6,010 |
Issuance of securitized debt obligations | 2,200 | 0 | 0 |
Maturities and paydowns of securitized debt obligations | -3,309 | -5,129 | -10,388 |
Issuance of senior and subordinated notes and junior subordinated debt | 2,063 | 2,248 | 2,992 |
Redemption of junior subordinated debentures | -3,641 | 0 | 0 |
Maturities and redemptions of senior and subordinate notes | -777 | -632 | -855 |
Net increase (decrease) in other borrowings | -5,144 | 13,819 | 5,774 |
Net proceeds from issuances of common stock | 81 | 3,233 | 40 |
Net proceeds from issuances of preferred stock | 0 | 853 | 0 |
Proceeds from share-based payment activities | 114 | 80 | 57 |
Dividends paid on common stock | -555 | -111 | -91 |
Dividends paid on preferred stock | -53 | -15 | 0 |
Purchases of treasury stock | -1,033 | -43 | -42 |
Net cash provided by (used in) financing activities | -18,472 | 14,510 | 4,308 |
Increase (decrease) in cash and cash equivalents | -4,767 | 5,220 | 589 |
Cash and cash equivalents at beginning of the period | 11,058 | 5,838 | 5,249 |
Cash and cash equivalents at end of the period | 6,291 | 11,058 | 5,838 |
Non-cash items: | ' | ' | ' |
Fair value of common stock issued in business acquisition | 0 | 2,638 | 0 |
Net transfers of loans held for investment to loans held for sale | 6,846 | 94 | 0 |
Transfer from securities available for sale to securities held to maturity | 18,275 | 0 | 0 |
Redemption of senior and subordinated notes | -1,969 | 0 | 0 |
Issuance of senior and subordinated notes | 1,968 | 0 | 0 |
Interest paid | -1,936 | -2,391 | -2,267 |
Income tax paid | ($1,721) | ($1,621) | ($923) |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
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 1995 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”) offers 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 December 31, 2013, 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 and its subsidiaries are 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 principally through Capital One (Europe) plc (“COEP”), an indirect subsidiary of COBNA organized and located in the U.K, and through a branch of COBNA in Canada. COEP has authority, among other things, to provide credit card and installment loans. Our branch of COBNA in Canada has the authority to provide credit card loans. | |||||
Our principal operations are currently organized for management reporting purposes into three primary business segments, which are defined primarily 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 into our business segments and the allocation methodologies and accounting policies used to derive our business segment results in “Note 19—Business Segments.” | |||||
Recent Acquisitions and Sales | |||||
On November 1, 2013, we acquired Beech Street Capital, a privately-held, national originator and servicer of Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie Mac”) and Federal Housing Authority (“FHA”) multifamily commercial real estate loans. The acquisition expands and enhances our existing multifamily capabilities and product offerings. At closing, we acquired a mortgage servicing portfolio of approximately $10 billion. | |||||
On September 6, 2013, we completed the sale of the Best Buy private label and co-branded credit card portfolio to Citibank, N.A (“Portfolio Sale”). Pursuant to the agreement with Citibank, N.A. (“Citibank”), we received $6.4 billion for the net portfolio assets. | |||||
On February 17, 2012, we completed the acquisition (the “ING Direct acquisition”) of substantially all of the ING Direct business in the United States (“ING Direct”) from ING Groep N.V., ING Bank N.V., ING Direct N.V. and ING Direct Bancorp (collectively the “ING Direct Sellers”). The ING Direct acquisition resulted in the addition of loans of $40.4 billion, other assets of $53.9 billion and deposits of $84.4 billion as of the acquisition date. | |||||
On May 1, 2012, pursuant to the agreement with HSBC Finance Corporation, HSBC USA Inc. and HSBC Technology and Services (USA) Inc. (collectively, “HSBC”), we closed the acquisition of substantially all of the assets and assumed liabilities of HSBC’s credit card and private-label Credit Card business in the United States (other than the HSBC Bank USA, National Association consumer credit card program and certain other retained assets and liabilities) (the “2012 U.S. card acquisition). The 2012 U.S. card acquisition included (i) the acquisition of HSBC’s U.S. Credit Card portfolio, (ii) its on-going private label and co-branded partnerships, and (iii) other assets, including infrastructure and capabilities. At closing, we acquired approximately 27 million new active accounts, approximately $27.8 billion in outstanding credit card receivables designated as held for investment (“HFI”) and approximately $327 million in other net assets. | |||||
Basis of Presentation and Use of Estimates | |||||
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. The preparation of financial statements in conformity with generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and 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. Certain prior period amounts have been reclassified to conform to the current period presentation. | |||||
Principles of Consolidation | |||||
The consolidated financial statements include the accounts of Capital One Financial Corporation and all other entities in which we have a controlling financial interest. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a Variable Interest Entity (“VIE”). All significant intercompany account balances and transactions have been eliminated. | |||||
Voting Interest Entities | |||||
Voting interest entities are entities that have sufficient equity and provide the equity investors voting rights that give them the power to make significant decisions relating to the entity’s operations. Since a controlling financial interest in an entity is typically obtained through ownership of a majority voting interest, we consolidate our majority-owned subsidiaries and other voting interest entities in which we hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through other contractual rights. | |||||
Investments in entities where we do not have a controlling financial interest but we have significant influence over the entity’s financial and operating decisions (generally defined as owning a voting interest of 20% to 50%) are accounted for under the equity method. If we own less than 20% of a voting interest entity, we generally carry the investment at cost, except marketable equity securities, which we carry at fair value with changes in fair value included in accumulated other comprehensive income. We typically report investments accounted for under the equity or cost method in other assets on our consolidated balance sheets, and include our share of income or loss on equity method investments and dividends on cost method investments in other non-interest income in our consolidated statements of income. | |||||
Variable Interest Entities | |||||
VIEs are entities that, by design, either (1) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. 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. | |||||
In determining whether we are the primary beneficiary of a VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE, such as our role in establishing the VIE and our ongoing rights and responsibilities; our economic interests, including debt and equity investments, servicing fees, and other arrangements deemed to be variable interests in the VIE; the design of the VIE, including the capitalization structure, subordination of interests, payment priority, relative share of interests held across various classes within the VIE’s capital structure and the reasons why the interests are held by us. | |||||
We perform on-going reassessments of whether entities previously evaluated under the majority voting-interest framework have become VIEs and should be subject to the VIE consolidation framework or whether changes in the nature of our involvement with a VIE results in a change in our consolidation conclusion. In the normal course of business, we have entered into various types of transactions with entities that are considered to be VIEs including securitization transactions in which we transferred assets from our balance sheet to securitization trusts. See “Note 6—Variable Interest Entities and Securitizations” for further details. | |||||
Cash and Cash Equivalents | |||||
Cash and cash equivalents include cash and due from banks, federal funds sold and securities purchased under agreements to resell and interest-bearing deposits with banks, all of which, if applicable, have stated maturities of three months or less when acquired. | |||||
Securities Resale and Repurchase Agreements | |||||
Securities purchased under resale agreements and securities loaned or sold under agreements to repurchase, principally U.S. government and agency obligations, are not accounted for as sales but as collateralized financing transactions and recorded at the amounts at which the securities were acquired or sold, plus accrued interest. We continually monitor the market value of these securities and deliver additional collateral to or obtain additional collateral from counterparties, as appropriate. | |||||
Investment Securities | |||||
Our investment securities consist primarily of fixed-income debt securities and equity securities. The accounting and measurement framework for our investment securities differs depending on the security classification. We classify securities as available for sale or held to maturity based on our investment strategy and management’s assessment of our intent and ability to hold the securities until maturity. Securities that we intend to hold for an indefinite period of time and may sell prior to maturity in response to changes in our investment strategy, liquidity needs, interest rate risk profile or for other reasons are classified as available for sale. Securities that we have the intent and ability to hold until maturity are classified as held to maturity. | |||||
We report securities available for sale in our consolidated balance sheets at fair value with unrealized gains and losses recorded, net of tax, as a component of Accumulated Other Comprehensive Income (“AOCI”). We report securities held to maturity on our consolidated balance sheets at carrying value. Carrying value generally consists of amortized cost. For securities transferred from available for sale to held to maturity, carrying value also includes unrealized gains and losses recognized in AOCI at the date of transfer. Investment securities transferred into the held to maturity category from the available for sale category are recorded at fair value at the date of transfer. Such unrealized gains or losses are accreted over the remaining life of the security with no impact on future net income. | |||||
Deferred items, including unamortized premiums, discounts and other basis adjustments, are recognized in interest income over the contractual lives of the securities using the effective interest method. We record purchases and sales of investment securities on a trade date basis. Realized gains and losses from the sale of debt securities are computed using the first in first out method of identification, and included in non-interest income in our consolidated statements of income. | |||||
We regularly evaluate our securities whose value has declined below amortized cost to assess whether the decline in fair value is other than temporary. Amortized cost reflects historical cost adjusted for amortization of premiums, accretion of discounts and other-than-temporary impairment (“OTTI”) write-down. We discuss our assessment of and accounting for OTTI in “Note 3—Investment Securities”. We discuss the techniques we use in determining the fair value of our investment securities in “Note 18—Fair Value of Financial Instruments.” | |||||
Our investment portfolio also includes certain acquired debt securities that were deemed to be credit impaired at the acquisition date, and therefore are accounted for in accordance with accounting guidance for purchased credit-impaired loans and debt securities. These securities are recorded at fair value at the acquisition date using the estimated cash flows we expect to collect discounted by the prevailing market interest rate. The difference between the contractually required payments due and the cash flows we expect to collect at acquisition, considering the impact of prepayments, is referred to as the nonaccretable difference and recognized in interest income using an effective yield method over the remaining life of the security. Decreases in expected cash flows attributable to credit result in the recognition of other-than-temporary impairment. Increases in expected cash flows are recognized prospectively over the remaining life of the security as an adjustment to the accretable yield. See “Loans Acquired” in this Note for further discussion of accounting guidance for purchased credit-impaired loans and debt securities. | |||||
Loans | |||||
Our total loan portfolio consists of credit card, consumer banking and commercial banking loans that we own and loans that underlie our securitization trusts. Credit card loans consist of domestic and international credit card loans as well as installment 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. | |||||
Loan Classification | |||||
Upon origination or purchase, we classify loans as held for investment or held for sale based on our investment strategy and management’s intent and ability with regard to the loans which may change over time. The accounting and measurement framework for loans differs depending on the loan classification, whether the loans are originated or purchased and whether purchased loans are considered credit-impaired at the date of acquisition. We used the term “Acquired Loans” to refer to a limited portion of the credit card loans acquired in the 2012 U.S. card acquisition and the substantial majority of consumer and commercial loans acquired in the ING Direct and Chevy Chase Bank acquisitions, which were recorded at fair value at acquisition and subsequently accounted for based on expected cash flows to be collected (under the accounting standard formerly known as “Statement of Position 03-3, Accounting for Certain Loans or Debt Securities Acquired in a Transfer,” commonly referred to as “SOP 03-3”). | |||||
The classification criteria and accounting and measurement framework for loans held for investment, including loans purchased, and loans held for sale are described below. | |||||
Loans Held for Investment | |||||
Loans that we have the ability and intent to hold for the foreseeable future and loans associated with on-balance sheet securitization transactions accounted for as secured borrowings are classified as held for investment. Loans classified as held for investment, except Acquired Loans accounted for based upon expected cash flows, are reported at their amortized cost, which is the outstanding principal balance, net of any unearned income, unamortized deferred fees and costs, unamortized premiums and discounts and charge-offs. Credit card loans also include billed finance charges and fees, net of the estimated uncollectible amount. | |||||
Interest income is recognized on loans held for investment on an accrual basis. We generally defer certain loan origination fees and direct loan origination costs on originated loans, premiums and discounts on purchased loans and loan commitment fees. We recognize these amounts in interest income as yield adjustments over the life of the loan and/or commitment period using the effective interest method. Where appropriate, prepayment estimates are factored into the calculation of the constant effective yield necessary to apply the interest method. Prepayment estimates are based on historical prepayment data and existing and forecasted interest rates and economic data. For credit card loans, loan origination fees and direct loan origination costs are amortized on a straight-line basis over a 12-month period. We establish an allowance for loan losses for probable losses inherent in our held for investment loan portfolio as of each balance sheet date. | |||||
Cash flows related to unrestricted loans held for investment are included in cash flows from investing activities in our consolidated statements of cash flows. Because our securitization transactions are accounted for as secured borrowings, the cash flows from these transactions are presented as cash flows from financing activities in our consolidated statements of cash flows. | |||||
Loans Held for Sale | |||||
Loans purchased or originated with the intent to sell or for which we do not have the ability and intent to hold for the foreseeable future are classified as held for sale, reported at the lower of amortized cost or fair value and have interest recognized on the accrual basis. Loan origination fees and the direct loan origination costs are deferred until the loan is sold and recognized as part of the total gain or loss on sale. The fair value of loans held for sale is determined on an aggregate homogeneous portfolio basis. | |||||
If a loan is transferred from held for investment to held for sale, declines in fair value related to credit are recorded as a charge-off and amortization of deferred loan origination fees and costs ceases. Subsequent to transfer, we report write-downs or recoveries in fair value up to the amortized cost and realized gains or losses on loans held for sale in our consolidated statements of income as a component of other non-interest income. We calculate the gain or loss on loan sales as the difference between the proceeds received and the carrying value of the loans sold, net of the fair value of any retained servicing rights. | |||||
Loans Acquired | |||||
Loans Acquired and Accounted for Based on Expected Cash Flows | |||||
All purchased loans, including loans transferred in a business combination, acquired on or after January 1, 2009, are recorded at fair value, which incorporates expected future losses, as of the date of each acquisition. While we may purchase loans with or without evidence of credit deterioration since origination, we elect to account for purchased loans using the guidance for accounting for purchased credit-impaired loans and debt securities, which is based upon expected cash flows, unless specifically scoped out of the guidance. | |||||
In accounting for purchased loans based on expected cash flows, we first determine the contractually required payments due, which represent the total undiscounted amount of all uncollected principal and interest payments, adjusted for the effect of estimated prepayments. We then estimate the undiscounted cash flows we expect to collect by incorporating several key assumptions including default rates, loss severities and the amount and timing of prepayments. We estimate the fair value by discounting the estimated cash flows we expect to collect using an observable market rate of interest, when available, adjusted for factors that a market participant would consider in determining fair value. We are permitted to aggregate loans acquired in the same fiscal quarter into one or more pools if the loans have common risk characteristics. A pool is then accounted for as a single asset, with a single composite interest rate and an aggregate fair value and expected cash flows. | |||||
The difference between total contractual payments on the loans and all expected cash flows represents the nonaccretable difference or the amount of principal and interest not considered collectible, which incorporates future expected credit losses over the life of the loans. Decreases in expected cash flows resulting from further credit deterioration will generally result in a loan loss recognized in our provision for credit losses and an increase in the allowance for loan and lease losses. Charge-offs are not recorded until the expected credit losses within the nonaccretable difference is depleted. In addition, Acquired Loans are not classified as delinquent or nonperforming as we expect to collect our net investment in these loans and the nonaccretable difference will absorb the majority of the losses associated with these loans. The excess of cash flows expected to be collected over the estimated fair value of purchased loans is referred to as the accretable yield. This amount is not recorded on our consolidated balance sheets, but is accreted into interest income over the life of the loan, or pool of loans, using the effective interest method. | |||||
Subsequent to acquisition, we are required to periodically evaluate our estimate of cash flows expected to be collected. These evaluations, which we perform quarterly, require the use of key assumptions and estimates similar to those used in estimating the initial fair value at acquisition. Subsequent changes in the estimated cash flows expected to be collected may result in changes in the accretable yield and nonaccretable difference or reclassifications from the nonaccretable difference to the accretable yield. Decreases in expected cash flows resulting from credit deterioration will generally result in an impairment charge recognized in our provision for credit losses and an increase in the allowance for loan and lease losses. Increases in the cash flows expected to be collected would first reduce any previously recorded allowance for loan and lease losses established subsequent to acquisition. The excess over the recorded allowance for loan and lease losses would result in a reclassification to the accretable yield from the nonaccretable difference and an increase in interest income recognized over the remaining life of the loan or pool of loans. Disposals of loans, which may include sales to third parties, receipt of payments in full or in part by the borrower, and foreclosure of the collateral, result in removal of the loan from the acquired loan portfolio. See “Note 4—Loans” for additional information. | |||||
Loans Acquired and Accounted for Based on Contractual Cash Flows | |||||
The substantial majority of the loans purchased in the 2012 U. S. card acquisition had existing revolving privileges at acquisition, therefore were excluded from the accounting guidance applied to the Acquired Loans described above, and accounted for based on contractual cash flows. To determine the fair value of these loans at acquisition, we discounted the contractual cash flows due using an observable market rate of interest, when available, adjusted for factors that a market participant would consider in determining fair value. In determining fair value, contractual cash flows are adjusted to include prepayment estimates based upon trends in default rates and loss severities. The difference between the fair value and the contractual cash flows is recorded as a loan discount or premium at acquisition. The premium or discount is amortized into interest income using the effective interest method over the remaining life of the loans. We are permitted to aggregate loans acquired in the same fiscal quarter into one or more pools if the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate fair value and expected cash flows. | |||||
Subsequent to acquisition, it may be necessary to record an allowance for loan and lease losses through the provision for credit losses to properly recognize an estimate of incurred losses on the existing principal balances as of each reporting date. The allowance for loan and lease losses is calculated using the same methodology utilized for determining the allowance for our existing credit card portfolio prior to the 2012 U.S. card acquisition, as described below under “Allowance for Loan and Lease Losses”. | |||||
Loan Modifications and Restructurings | |||||
As part of our loss mitigation efforts, we may provide short-term (three to twelve months) or long-term (greater than twelve months) modifications to a borrower experiencing financial difficulty to improve long-term collectability of the loan and to avoid the need for foreclosure or repossession of collateral. Our loan modifications typically result in reduced principal and interest payments for borrowers through an extension of the loan term, a reduction in the interest rate, or a combination of both. For credit card loan agreements, such modifications may include canceling the customer’s available line of credit on the credit card, reducing the interest rate on the card, and placing the customer on a fixed payment plan not exceeding 60 months. In some cases, we may curtail the amount of principal owed by the borrower. | |||||
A loan modification in which a concession is granted to a borrower experiencing financial difficulty is accounted for and reported as a troubled debt restructuring (“TDR”). We describe our accounting for and measurement of impairment on restructured loans below under “Impaired Loans.” See “Note 4—Loans” for additional information on our loan modifications and restructurings. | |||||
Delinquent and Nonperforming Loans | |||||
The entire balance of a loan is considered contractually delinquent if the minimum required payment is not received by the first statement cycle date equal to or following the due date specified on the customer’s billing statement. Delinquency is reported on loans that are 30 or more days past due. Interest and fees continue to accrue on past due loans until the date the loan is placed on nonaccrual status, if applicable. We generally place loans on nonaccrual status when we believe the collectability of interest and principal is not reasonably assured. | |||||
Nonperforming loans generally include loans that have been placed on nonaccrual status. We do not report loans accounted for under the loans held for sale as nonperforming. | |||||
Our policies for classifying loans as nonperforming, by loan category, are as follows: | |||||
• | Credit card loans: As permitted by regulatory guidance issued by the Federal Financial Institutions Examination Council (“FFIEC”), our policy is generally to exempt credit card loans from being classified as nonperforming as these loans are generally charged off in the period the account becomes 180 days past due. Consistent with industry conventions, we generally continue to accrue interest and fees on delinquent credit card loans until the loans are charged-off. During the fourth quarter 2012, we began classifying credit card loans issued in the U.K. as nonperforming when the account becomes either 90 or 120 days past due depending on the specific facts and circumstances. | ||||
• | Consumer banking loans: We classify consumer banking loans as nonperforming at the earlier of the date when we determine that the collectability of all interest and principal on the loan is not reasonably assured or in the period in which the loan becomes 90 days past due for auto, home loans, and unsecured small business revolving lines of credit and 120 days past due for all consumer loans, including installment loans. | ||||
• | Commercial banking loans: We classify commercial loans as nonperforming as of the date we determine that the collectability of all interest and principal on the loan is not reasonably assured. | ||||
• | Modified loans and troubled debt restructurings: Modified loans, including TDRs, that are current at the time of the restructuring remain on accrual status if there is demonstrated performance prior to the restructuring and continued performance under the modified terms is expected. Otherwise, the modified loan is classified as nonperforming and placed on nonaccrual status until the borrower demonstrates a sustained period of performance over several payment cycles, generally six months of consecutive payments, under the modified terms of the loan. | ||||
• | Acquired Loans: Since the Acquired Loans were initially measured at fair value based on an estimate of credit losses expected to be realized over the remaining lives of the loans, we exclude these loans from our delinquency and nonperforming loan statistics. | ||||
Interest and fees accrued but not collected at the date a loan is placed on nonaccrual status are reversed against earnings. In addition, the amortization of net deferred loan fees is suspended. Interest and fee income is subsequently recognized only upon the receipt of cash payments. However, if there is doubt regarding the ultimate collectability of loan principal, all cash received is applied against the principal balance of the loan. Nonaccrual loans are generally returned to accrual status when all principal and interest is current and repayment of the remaining contractual principal and interest is reasonably assured or when the loan is both well-secured and in the process of collection and collectability is no longer doubtful. | |||||
Impaired Loans | |||||
A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due from the borrower in accordance with the original contractual terms of the loan. Generally, we report loans as impaired based on the method for measuring impairment in accordance with applicable accounting guidance. Loans held for sale are also not reported as impaired, as these loans are recorded at lower of cost or fair value. Impaired loans also exclude Acquired Loans accounted for based on expected cash flows at acquisition because this accounting methodology takes into consideration future credit losses expected to be incurred. | |||||
Loans defined as individually impaired, based on applicable accounting guidance, include larger balance nonperforming loans and TDR loans. Our policies for identifying loans as individually impaired, by loan category, are as follows: | |||||
• | Credit card loans: Credit card loans that have been modified in a troubled debt restructuring are identified and accounted for as individually impaired. | ||||
• | Consumer banking loans: Consumer loans that have been modified in a troubled debt restructuring are identified and accounted for as individually impaired. In 2013 we began including home loans written-down to collateral value. | ||||
• | Commercial banking loans: Commercial loans classified as nonperforming and commercial loans that have been modified in a troubled debt restructuring are reported as individually impaired. | ||||
• | Acquired Loans: We track and report Acquired Loans separately from other impaired loans. | ||||
The majority of individually impaired loans are evaluated for an asset-specific allowance. Although a loan modified in a TDR may be returned to accrual status if the criteria above under “Delinquent and Nonperforming Loans” are met, we would generally continue to report the loan as impaired until maturity. | |||||
We generally measure impairment and the related asset-specific allowance for individually impaired loans based on the difference between the recorded investment of the loan and the present value of the expected future cash flows, discounted at the original effective interest rate of the loan at the time of modification. If the loan is collateral dependent, we measure impairment based upon the fair value of the underlying collateral, which we determine based on the current fair value of the collateral less estimated selling costs, instead of discounted cash flows. Loans are identified as collateral dependent if we believe that collateral is the sole source of repayment. | |||||
Charge-Offs | |||||
Net charge-offs consist of the unpaid principal balance of loans held for investment that we determine are uncollectible, net of recovered amounts. We exclude accrued and unpaid finance charges and fees and fraud losses from charge-offs. Charge-offs are recorded as a reduction to the allowance for loan and lease losses and subsequent recoveries of previously charged off amounts are credited to the allowance for loan and lease losses. Costs incurred to recover charged-off loans are recorded as collection expense and included in our consolidated statements of income as a component of other non-interest expense. Our charge-off time frame for loans, which varies based on the loan type, is presented below. | |||||
• | Credit card loans: We generally charge-off credit card loans in the period the account becomes 180 days past due. During the fourth quarter 2012, we began charging off delinquent credit card loans for which revolving privileges have been revoked as part of a closed end loan workout when the account becomes 120 days past due. Credit card loans in bankruptcy are charged-off by the end of the month upon the receipt of a complete bankruptcy notification from the bankruptcy court. Credit card loans of deceased account holders are charged-off by the end of the month following 60 days of receipt of notification. | ||||
• | Consumer banking loans: We generally charge-off consumer banking loans at the earlier of the date when the account is a specified number of days past due or upon repossession of the underlying collateral. Our charge-off time frame is 180 days for home loans and unsecured small business lines of credit and 120 days for auto and other non-credit card consumer loans. We calculate the initial charge-off amount for home loans based on the excess of our recorded investment in the loan over the fair value of the underlying property less estimated selling costs as of the date of the charge-off. We update our home value estimates on a regular basis and recognize additional charge-offs for subsequent declines in home values. Consumer loans in bankruptcy, except for auto and home loans, generally are charged-off within 40 days of receipt of notification from the bankruptcy court. Auto and home loans in bankruptcy are charged-off in the period that the loan is both 60 days or more past due and 60 days or more past the bankruptcy notification date or in the period the loan becomes 120 days past due for auto loans and 180 days past due for home loans regardless of the bankruptcy notification date. Consumer loans of deceased account holders are charged-off by the end of the month following 60 days of receipt of notification. | ||||
• | Commercial banking loans: We charge-off commercial loans in the period we determine that the unpaid principal loan amounts are uncollectible. | ||||
• | Acquired Loans: We do not record charge-offs on Acquired Loans that are performing in accordance with or better than our expectations as of the date of acquisition, as the fair values of these loans already reflect a credit component. We record charge-offs on impaired loans only if actual losses exceed estimated losses incorporated into the fair value recorded at acquisition. | ||||
Allowance for Loan and Lease Losses | |||||
We maintain an allowance for loan and lease losses (“the allowance”) that represents management’s best estimate of incurred loan and lease losses inherent in our held-for-investment portfolio as of each balance sheet date. The provision for credit losses, which is charged to earnings, reflects credit losses we believe have been incurred and will eventually be reflected over time in our charge-offs. Charge-offs of uncollectible amounts are deducted from the allowance and subsequent recoveries are added back. | |||||
Management performs a quarterly analysis of our loan portfolio to determine if impairment has occurred and to assess the adequacy of the allowance based on historical and current trends and other factors affecting credit losses. We apply documented systematic methodologies to separately calculate the allowance for our consumer loan and commercial loan portfolios and for loans within each of these portfolios that we identify as individually impaired. Our allowance for loan and lease losses consists of three components that are allocated to cover the estimated probable losses in each loan portfolio based on the results of our detailed review and loan impairment assessment process: (1) a component for loans collectively evaluated for impairment; (2) an asset-specific component for individually impaired loans; and (3) a component related to Acquired Loans that have experienced significant decreases in expected cash flows subsequent to acquisition. Each of our allowance components is supplemented by an amount that represents management’s qualitative judgment of the imprecision and risks inherent in the processes and assumptions used in establishing the allowance. Management’s judgment involves an assessment of subjective factors, such as process risk, modeling assumption and adjustment risks and probable internal and external events that will likely impact losses. | |||||
Our consumer loan portfolio consists of smaller-balance, homogeneous loans, divided into four primary portfolio segments: credit card loans, auto loans, residential home loans and retail banking loans. Each of these portfolios is further divided by our business units into pools based on common risk characteristics, such as origination year, contract type, interest rate and geography, which are collectively evaluated for impairment. The commercial loan portfolio is primarily composed of larger-balance, non-homogeneous loans. These loans are subject to individual reviews that result in internal risk ratings. In assessing the risk rating of a particular loan, among the factors we consider are the financial condition of the borrower, geography, collateral performance, historical loss experience, and industry-specific information that management believes is relevant in determining the occurrence of a loss event and measuring impairment. These factors are based on an evaluation of historical and current information, and involve subjective assessment and interpretation. Emphasizing one factor over another or considering additional factors could impact the risk rating assigned to that loan. | |||||
The component of the allowance for credit card and other consumer loans that we collectively evaluate for impairment is based on a statistical calculation, which is supplemented by management judgment as described above. Because of the homogeneous nature of our consumer loan portfolios, the allowance is based on the aggregated portfolio segment evaluations. The allowance is established through a process that begins with estimates of incurred losses in each pool based upon various statistical analyses. Loss forecast models are utilized to estimate incurred losses and consider several portfolio indicators including, but not limited to, historical loss experience, account seasoning, the value of collateral underlying secured loans, estimated foreclosures or defaults based on observable trends, delinquencies, bankruptcy filings, unemployment, credit bureau scores and general economic and business trends. Management believes these factors are relevant in estimating incurred losses and also considers an evaluation of overall portfolio credit quality based on indicators such as changes in our credit evaluation, underwriting and collection management policies, changes in the legal and regulatory environment, general economic conditions and business trends and uncertainties in forecasting and modeling techniques used in estimating our allowance. We update our consumer loss forecast models and portfolio indicators on a quarterly basis to incorporate information reflective of the current economic environment. | |||||
The component of the allowance for commercial loans that we collectively evaluate for impairment is based on our historical loss experience for loans with similar risk characteristics and consideration of the current credit quality of the portfolio, which is supplemented by management judgment as described above. We apply internal risk ratings to commercial loans, which we use to assess credit quality and derive a total loss estimate based on an estimated probability of default (default rate) and loss given default (loss severity). Management may also apply judgment to adjust the loss factors derived, taking into consideration both quantitative and qualitative factors, including general economic conditions, specific industry and geographic trends, portfolio concentrations, trends in internal credit quality indicators and current and past underwriting standards that have occurred but are not yet reflected in the historical data underlying our loss estimates. | |||||
The asset-specific component of the allowance covers smaller-balance homogeneous credit card and other consumer loans whose terms have been modified in a TDR and larger balance nonperforming, non-homogeneous commercial loans. As discussed above under “Impaired Loans,” we generally measure the asset-specific component of the allowance based on the difference between the recorded investment of individually impaired loans and the present value of expected future cash flows. When the present value is lower than the carrying value of the loan, impairment is recognized through the provision for credit losses. If the loan is collateral dependent, we measure impairment based upon the fair value of the underlying collateral, which we determine based on the current fair value of the collateral less estimated selling costs, instead of discounted cash flows. The asset-specific component of the allowance for smaller-balance impaired loans is calculated on a pool basis using historical loss experience for the respective class of assets. The asset-specific component of the allowance for larger-balance commercial loans is individually calculated for each loan. Key considerations in determining the allowance include the borrower’s overall financial condition, resources and payment history, prospects for support from financially responsible guarantors, and when applicable, the estimated realizable value of any collateral. | |||||
We record all purchased loans at fair value at acquisition. Applicable accounting guidance prohibits the carry over or creation of valuation allowances in the initial accounting for impaired loans acquired in a transfer. Subsequent to acquisition, decreases in expected principal cash flows of Acquired Loans would trigger the recognition of impairment through our provision for credit losses. Subsequent increases in expected cash flows would first result in a recovery of any previously recorded allowance for loan and lease losses, to the extent applicable, and then increase the accretable yield. Write-downs on purchased impaired loans in excess of the nonaccretable difference are charged against the allowance for loan and lease losses. See “Note 4—Loans” for information on loan portfolios associated with acquisitions. | |||||
In addition to the allowance for loan and lease losses, we also estimate probable losses related to contractually binding unfunded lending commitments, such as letters of credit and financial guarantees, and binding unfunded loan commitments. The provision for unfunded lending commitments is included in the provision for credit losses on our consolidated statements of income and the related reserve for unfunded lending commitments is included in other liabilities on our consolidated balance sheets. Unfunded lending commitments are subject to individual reviews and are analyzed and segregated by risk according to our internal risk rating scale. We assess these risk classifications, in conjunction with historical loss experience, utilization assumptions, current economic conditions, performance trends within specific portfolio segments and other pertinent information to estimate the reserve for unfunded lending commitments. | |||||
Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. Subsequent evaluations of the loan portfolio, in light of the factors then prevailing, may result in significant changes in the allowance for loan and lease losses and the reserve for unfunded lending commitments in future periods. | |||||
Securitization of Loans | |||||
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 debt securities to third parties. See “Note 6—Variable Interest Entities and Securitizations” for additional details. Loan securitization involves the transfer of a pool of loan receivables from our portfolio to a trust. The trust then sells an undivided interest in the pool of loan receivables to third-party investors through the issuance of debt securities and transfers the proceeds from the debt issuance to us as consideration for the loan receivables transferred. The debt securities are collateralized by the transferred receivables from our portfolio. We remove loans from our consolidated balance sheets when securitizations qualify as sales to non-consolidated VIEs, recognize assets retained and liabilities assumed at fair value and record a gain or loss on the transferred loans. Alternatively, when the transfer does not qualify as a sale but instead is considered a secured borrowing or when the sale is to a consolidated VIE, the asset will remain on our consolidated financial statements with an offsetting liability recognized for the amount of proceeds received. | |||||
Premises and Equipment | |||||
Land is carried at cost. Properties and equipment, including leasehold improvements, are stated at cost less accumulated depreciation and amortization. We capitalize direct costs incurred during the application development stage of internally developed software projects. Depreciation and amortization expenses are computed generally by the straight-line method over the estimated useful lives of the assets. Useful lives for premises and equipment are estimated as follows: | |||||
Premises & Equipment | Useful Lives | ||||
Buildings and improvement | 5-39 years | ||||
Furniture and equipment | 3-10 years | ||||
Computers and software | 3-7 years | ||||
Leasehold improvements | Lesser of useful life or | ||||
the remaining fixed non-cancelable lease term | |||||
Expenditures for maintenance and repairs are charged to earnings as incurred. Gains or losses upon disposition are reflected in earnings as realized. | |||||
Goodwill and Other Intangible Assets | |||||
Goodwill is not amortized but is tested for impairment, at the reporting unit level, annually or sooner when adverse circumstances indicate that it is more than 50% likely that the carrying amount of goodwill exceeds its implied fair value. A reporting unit is defined as an operating segment or a business one level below an operating segment and goodwill is assigned to one or more reporting units at the date of acquisition. Our reporting units are Domestic Card, International Card, Auto, Other Consumer Banking and Commercial Banking. The goodwill impairment test, performed at October 1 of each year, is a two-step test. The first step identifies whether there is potential impairment by comparing the fair value of a reporting unit to the carrying amount, including goodwill. If impairment exists, the second step of the impairment test is required to measure the amount of any impairment loss. Intangible assets with definite useful lives are amortized either on a straight-line or on an accelerated basis over their estimated useful lives and are evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. See “Note 7—Goodwill and Other Intangible Assets” for additional detail. | |||||
Mortgage Servicing Rights | |||||
Mortgage servicing rights are initially recorded at fair value when mortgage loans are sold or securitized in the secondary market and the right to service these loans is retained for a fee. Subsequently, our consumer related mortgage servicing rights (“MSR”) are carried at fair value on our consolidated balance sheets with changes in fair value recognized in non-interest income. Our commercial related MSRs are subsequently measured under the amortization method and are periodically evaluated for impairment, which is recognized as a reduction in non-interest income. See “Note 7—Goodwill and Other Intangible Assets” and “Note 18—Fair Value of Financial Instruments” for additional information. | |||||
Foreclosed Property and Repossessed Assets | |||||
Foreclosed property and repossessed assets obtained through our lending activities typically include commercial and residential real estate or personal property, such as autos. Upon repossession of property obtained in satisfaction of a loan, we reclassify the loan to repossessed assets and record the acquired property at net realizable value. Net realizable value is the estimated fair value of the underlying collateral less estimated selling costs and is based on appraisals, when available. We routinely monitor and update the net realizable value of acquired property. Any changes in net realizable value and gains or losses realized from disposition of the property are recorded in non-interest expense. See “Note 18—Fair Value of Financial Instruments” for details. | |||||
Restricted Equity Investments | |||||
We have investments in Federal Home Loan Bank (“FHLB”) stock and in the Board of Governors of the Federal Reserve System (the “Federal Reserve”) stock. These investments, which are included in other assets in our consolidated balance sheets, are not marketable and are carried at cost. We assess these investments for OTTI in accordance with applicable accounting guidance for evaluating impairment. See “Note 9—Deposits and Borrowings” for details. | |||||
Representation and Warranty Reserve | |||||
In connection with their sales of mortgage loans, certain subsidiaries entered into agreements containing varying representations and warranties about, among other things, the ownership of the loan, the validity of the lien securing the loan, the loan’s compliance with any applicable loan criteria established by the purchaser, including underwriting guidelines and the ongoing existence of mortgage insurance, and the loan’s compliance with applicable federal, state and local laws. We may be required to repurchase the mortgage loan, indemnify the investor or insurer, or reimburse the investor losses incurred on the loan in the event of a material breach of contractual representations or warranties. | |||||
We have established representation and warranty reserves for losses that we consider to be both probable and reasonably estimable associated with the mortgage loans sold by each subsidiary, including both litigation and non-litigation liabilities. The reserve-setting process relies heavily on estimates, which are inherently uncertain, and requires the application of judgment. We evaluate these estimates on a quarterly basis. | |||||
Losses incurred on loans that we are required to either repurchase or make payments to the investor under the indemnification provisions are charged against the representation and warranty reserve. The representation and warranty reserve is included in other liabilities in our consolidated balance sheets. Changes to the representation and warranty reserve related to GreenPoint Mortgage Funding, Inc. (“GreenPoint”) are reported as discontinued operations for all periods presented. See “Note 20—Commitments, Contingencies, Guarantees, and Others” for additional information related to our representation and warranty reserve. | |||||
Customer Rewards Reserve | |||||
We offer products, primarily credit cards, which include programs that allow members to earn rewards, such as cash, gift cards, airline tickets or merchandise, based on account activity. Customer rewards costs are generally recorded as an offset to interchange income, with a corresponding increase to the customer rewards reserve, when the rewards are earned by the customer. The customer rewards reserve is computed based on the estimated future cost of earned points that are expected to be redeemed and the average cost per point redeemed. The customer rewards reserve is reduced as points are redeemed. In estimating the customer rewards reserve, we consider historical rewards redemption behavior, the terms of the current rewards programs and card purchase activity. The customer rewards reserve is sensitive to changes in the reward redemption type and redemption rate, which is based on the expectation that the vast majority of all points earned will eventually be redeemed. The customer rewards reserve, which is included in other liabilities in our consolidated balance sheets, totaled $2.3 billion and $2.1 billion as of December 31, 2013 and 2012, respectively. | |||||
Revenue Recognition | |||||
Interest Income and Fees | |||||
We recognize interest income, including finance charges, and fees on loans in interest and non-interest income in our consolidated statements of income in accordance with the contractual provisions of the credit arrangements. Loan origination fees and costs and premiums and discounts are generally deferred and amortized over the average life of the related loans using the effective interest method, except for credit card, which are amortized over 12 months on a straight-line basis. Direct loan origination costs consist of both internal and external costs associated with the origination of a loan. | |||||
Finance charges and fees on credit card loans, net of amounts that we consider uncollectible, are included in loan receivables and revenue when the fees are earned. Annual membership fees are deferred and amortized into income over one year on a straight-line basis. We continue to accrue finance charges and fees on credit card loans until the account is charged-off. Our methodology for estimating the uncollectible portion of billed finance charges and fees is consistent with the methodology we use to estimate the allowance for incurred principal losses on our credit card loan receivables. | |||||
Interchange Income | |||||
Interchange income represents merchant fees for credit card transactions processed through the MasterCard® (“MasterCard”) and Visa® (“Visa”) interchange network due to the customer’s card-issuing bank, which is net of the fee retained by the merchant’s processing bank. The levels and structure of interchange rates are set by MasterCard and Visa are based on cardholder purchase volumes. We recognize interchange income as earned at the time of purchase. | |||||
Same-as-Cash Promotions | |||||
As part of certain retail partnership agreements, we offer borrowers a same-as-cash (“SAC”) promotional period during which a minimum monthly payment is due. As part of a SAC promotional program, a borrower has a period of time, typically ranging from six months to three years, to pay the principal balance in full without incurring an interest charge. If the borrower does not pay the principal balance in full prior to the expiration date of the SAC promotional period, interest charges are applied retroactive to the purchase date. | |||||
We accrue SAC interest income on a monthly basis throughout the term of the SAC period based on the amount we expect to collect. Accordingly, we do not accrue interest income for borrowers who we expect will pay their principal balance in full prior to the expiration of the SAC period or for borrowers who we expect will be unable to pay the full amount. | |||||
Card Partnership Agreements | |||||
Our partnership agreements relate to alliances with retailers and other partners to provide lending and other services to mutual customers. We primarily issue private-label and co-branded credit card loans to these customers over the term of these arrangements, which typically range from two to ten years. | |||||
Certain partners assist in or perform marketing activities on our behalf and promote our products and services to their customers. As compensation for providing these services, we often pay royalties, bounties, or other special bonuses to these partners. Depending upon the nature of the payments, they are recorded as a reduction of revenue, marketing expenses or other operating expenses. | |||||
If a partnership agreement provides for profit, revenue or loss sharing payments, we must determine whether to report those payments on a gross or net basis in our consolidated financial statements. We evaluate the contractual provisions of each transaction and applicable accounting guidance to determine the manner in which to report the impact of sharing arrangements in our consolidated financial statements. Our consolidated net income is the same regardless of whether revenue and loss sharing arrangements are reported on a gross or net basis. | |||||
Collaborative Arrangements | |||||
A collaborative arrangement is a contractual arrangement that involves a joint operating activity between two or more parties that are active participants in the activity. These parties are exposed to significant risks and rewards based upon the economic success of the joint operating activity. We assess each of our partnership agreements with profit, revenue or loss sharing payments to determine if a collaborative arrangement exists and, if so, how revenue generated from third parties, costs incurred and transactions between participants in the collaborative arrangement should be accounted for and reported in our consolidated financial statements. | |||||
Pursuant to a partnership agreement that we entered into in August 2010 with Kohl’s Department Stores (“Retailer”), we acquired the Retailer’s existing private-label credit card loan portfolio and began issuing the Retailer’s branded private-label credit cards to new and existing customers in April 2011. The Retailer’s partnership agreement has an initial seven-year term and an automatic one-year renewal thereafter. Risk management decisions are jointly managed by the Retailer and us, but we retain final authority over risk management decisions. The Retailer has primary responsibility for handling customer service functions and advertising and marketing related to credit card customers. | |||||
Based on our assessment, we determined that the Retailer’s partnership agreement meets the definition of a collaborative arrangement. None of our other partnership agreements are considered to be collaborative arrangements. | |||||
We share a fixed percentage of revenues, consisting of finance charges and late fees, with the Retailer, and the Retailer is required to reimburse us for a fixed percentage of credit losses incurred. Revenues and losses related to the Retailer’s credit card program and partnership agreement are reported on a net basis in our consolidated financial statements. Revenue sharing amounts attributable to the Retailer are recorded as an offset against total net revenue in our consolidated statements of income. The loss sharing amounts due from the Retailer are recorded as a reduction in our provision for credit losses in our consolidated statements of income. The allowance for loan and lease losses attributable to the Retailer’s portfolio is reduced by the loss sharing amount due from the Retailer. | |||||
Interest income was reduced by $965 million, $885 million, and $607 million in 2013, 2012, and 2011, respectively, for amounts earned by the Retailer, as part of the revenue sharing agreement. Loss sharing amounts attributable to the Retailer, reduced charge-offs by $161 million, $167 million, and $118 million in 2013, 2012, and 2011, respectively. The reduction in the provision for loan and lease losses attributable to the Retailer, was $119 million, $199 million, and $257 million in 2013, 2012 and 2011, respectively. The expected reimbursement from the Retailer, which is netted against our allowance for loan and lease losses, was approximately $128 million, $170 million and $139 million as of December 31, 2013, 2012, and 2011, respectively. | |||||
Stock-Based Compensation | |||||
We reserve common shares for issuance to employees, directors and third-party service providers, in various forms, including incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards and units and performance share awards and units. In addition, we also issue cash equity units and cash-settled restricted stock units which are not counted against the common shares reserved for issuance or available for issuance because they are settled in cash. For awards settled in shares, we generally recognize compensation expense on a straight-line basis over the award’s service period. If an award settled in shares contains a performance condition with graded vesting, we recognize compensation expense using the accelerated attribution method. Cash-settled equity and restricted stock units are accounted for as liability awards which results in quarterly expense fluctuations based on changes in our stock price through the date that the awards are settled. Awards that continue to vest after retirement are expensed over the shorter of the period of time between the grant date and the final vesting period or between the grant date and when the participant becomes retirement eligible; awards to participants who are retirement eligible at the grant date are subject to immediate expensing upon grant. Stock-based compensation expense is included in salaries and associate benefits on the consolidated statements of income. | |||||
Stock-based compensation expense for stock options is based on the grant date fair value, which is estimated using a Black-Scholes option pricing model. Significant judgment is required when determining the inputs into the fair value model and the expected forfeiture rate of stock options. Aside from stock options, the fair value of stock-based compensation used in determining compensation expense will generally equal the fair market value of our common stock on the date of grant. | |||||
Marketing Expense | |||||
We expense marketing costs as incurred. Television advertising costs are expensed during the period in which the advertisements are aired. We recognized marketing expense of $1.4 billion in both 2013 and 2012, respectively. We recognized marketing expense of $1.3 billion in 2011. | |||||
Fraud Losses | |||||
We experience fraud losses from the unauthorized use of credit cards, debit cards and customer bank accounts. Additional fraud losses may be incurred when loans are obtained through fraudulent means. Transactions suspected of being fraudulent are recorded in our consolidated statements of income as a component of non-interest expense after the investigation period has completed. Recoveries of fraud losses are also included in non-interest expense. See “Note 14—Other Non-Interest Expense” for additional information. | |||||
Income Taxes | |||||
We account for income taxes in accordance with the accounting guidance for income taxes, recognizing the current and deferred tax consequences of all transactions that have been recognized in the financial statements using the provisions of the enacted tax laws. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. We record valuation allowances to reduce deferred tax assets to the amount that is more likely than not to be realized. See “Note 17—Income Taxes” for additional detail. | |||||
Earnings Per Share | |||||
We have unvested share-based payment awards which have a right to receive nonforfeitable dividends. These share-based payment awards are deemed to be participating securities. As a result, earnings per share is reported under the “two-class” method. The “two-class” method is an earnings allocation method under which earnings per share is calculated for each class of common stock and participating security considering both dividends declared (or accumulated) and participation rights in undistributed earnings as if all such earnings had been distributed during the period. | |||||
Earnings per common share is calculated by dividing net income, after deducting dividends on preferred stock and undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period, net of any treasury shares. We calculate diluted earnings per share by dividing net income, after deducting dividends on preferred stock and undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents (for example, warrants, stock options, restricted stock awards and units and performance share awards and units). Common stock equivalents are calculated based upon the treasury stock method using an average market price of common shares sold during the period. Dilution is not considered when the company is in a net loss position. Common stock equivalents that have an antidilutive effect are excluded from the computation of diluted earnings per share. | |||||
Derivative Instruments and Hedging Activities | |||||
All derivative financial instruments, whether designated for hedge accounting or not, are reported at their fair value on our consolidated balance sheets as either assets or liabilities. We report derivatives in a gain position, or derivative assets, in our consolidated balance sheets as a component of other assets. We report derivatives in a loss position, or derivative liabilities, in our consolidated balance sheets as a component of other liabilities. We report derivative asset and liability amounts on a gross basis based on individual contracts, which does not take into consideration the effects of master counterparty netting agreements or collateral netting. See “Note 10—Derivative Instruments and Hedging Activities” for additional detail on the accounting for derivative instruments, including those designated as qualifying for hedge accounting. | |||||
Fair Value | |||||
Fair value 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 (also referred to as an exit price). The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. Fair value measurement of a financial asset or liability is assigned to 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: | Quoted prices (unadjusted) in active markets for identical assets or liabilities | ||||
Level 2: | Observable market-based inputs, other than quoted prices in active markets for identical assets or liabilities | ||||
Level 3: | Unobservable inputs | ||||
The accounting guidance for fair value requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. 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 into earnings. We have not made any material fair value option elections as of and for the years ended December 31, 2013, 2012 and 2011. See “Note 18—Fair Value of Financial Instruments” for additional information. | |||||
Accounting for Acquisitions | |||||
We account for business combinations under the acquisition method of accounting. Under the acquisition method, tangible and intangible identifiable assets acquired, liabilities assumed and any noncontrolling interest in the acquiree are recorded at fair value as of the acquisition date, with limited exceptions. Transaction costs and costs to restructure the acquired company are expensed as incurred. Goodwill is recognized as the excess of the acquisition price over the estimated fair value of the net assets acquired. Likewise, if the fair value of the net assets acquired is greater than the acquisition price, a bargain purchase gain is recognized and recorded in non-interest income. | |||||
If the acquired set of activities and assets does not meet the accounting definition of a business, the transaction is accounted for as an asset acquisition. In an asset acquisition, the assets acquired are recorded at the purchase price plus any transaction costs incurred and, therefore, no goodwill is recognized. | |||||
Accounting Standards Adopted in 2013 | |||||
New Benchmark Interest Rate for Hedge Accounting Purposes | |||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued guidance permitting the use of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate, “OIS”) as a benchmark interest rate for hedge accounting purposes. The addition of OIS expands the number of benchmark interest rates to three, including the US Treasury rate and London Interbank Offered Rate swap rate. The guidance also removes the previous restriction on using different benchmark rates for similar hedges. The guidance is effective for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. See “Note 10—Derivative Instruments and Hedging Activities” for further details regarding the impact derivative contracts designated as qualifying accounting hedges have on our financial condition and results of operations. | |||||
Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | |||||
In February 2013, the FASB issued new guidance requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. The new guidance does not change the items which must be reported in other comprehensive income, how such items are measured or when they must be reclassified from other comprehensive income to net income. The guidance was effective for reporting periods beginning after December 15, 2012. Our adoption of the guidance on January 1, 2013 had no impact on our financial condition, results of operations or liquidity as it only affects our disclosures. See “Note 11—Stockholders’ Equity” for further details. | |||||
Offsetting Financial Assets and Liabilities | |||||
Effective January, 2013, we were required to disclose both gross and net information about instruments and transactions eligible for offset on the balance sheet as well as instruments and transactions subject to an agreement similar to a master netting arrangement. The disclosures are required irrespective of whether such instruments are presented gross or net on the balance sheet. The guidance was effective for annual and interim reporting periods beginning on or after January 1, 2013, with comparative retrospective disclosures required for all periods presented. Our adoption of the guidance had no effect on our financial condition, results of operations or liquidity as it only affects our disclosures. See “Note 10—Derivative Instruments and Hedging Activities” for further details. | |||||
Recently Issued but Not Yet Adopted Accounting Standards | |||||
Obligations Resulting from Joint and Several Liability Arrangements | |||||
In February 2013, the FASB issued guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation, within the scope of this guidance, is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance clarifies that an entity shall measure obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The guidance is effective for annual and interim periods beginning after December 15, 2013, with early adoption permitted. We do not expect our adoption of this guidance in the first quarter of 2014 to have a significant effect on our financial condition, results of operations or liquidity as the guidance is consistent with our current practice. | |||||
Reclassification of Collateralized Mortgage Loan Upon Foreclosure | |||||
In January 2014, the FASB issued guidance clarifying when an entity should reclassify a consumer mortgage loan collateralized by residential real estate to foreclosed property. Reclassification should occur when the creditor obtains legal title to the residential real estate property or when the borrower conveys all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. An entity should not wait until a redemption period, if any, has expired to reclassify a consumer mortgage loan to foreclosed property. The guidance is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted. We do not expect our adoption of this guidance in the first quarter of 2015 to have a significant effect on our financial condition, results of operations or liquidity as the guidance is materially consistent with our current practice. | |||||
Accounting for Investments in Qualified Affordable Housing Projects | |||||
In January 2014, the FASB issued guidance permitting an entity to account for investments in qualified affordable housing projects using the proportional amortization method if certain criteria are met. The proportional method amortizes the cost of the investment over the period in which the investor receives tax credits and other tax benefits, and the resulting amortization is recognized as a component of income taxes attributable to continuing operations. Historically, these costs have been recognized within non-interest expense. The guidance is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted and retrospective application required. We plan to adopt as of January 1, 2014 and do not expect the adoption to have a material impact to our financial statements. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
Discontinued Operations | ' | ||||||||||||
NOTE 2—DISCONTINUED OPERATIONS | |||||||||||||
Shutdown of Mortgage Origination Operations of our Wholesale Mortgage Banking Unit | |||||||||||||
In the third quarter of 2007, we closed the mortgage origination operations of our wholesale mortgage banking unit, GreenPoint, which we acquired in December 2006 as part of the North Fork acquisition. The results of the wholesale banking unit have been accounted for as a discontinued operation and are therefore not included in our results from continuing operations for the years ended December 31, 2013, 2012 and 2011. We have no significant continuing involvement in these operations. | |||||||||||||
The following table summarizes the results from discontinued operations related to the closure of the mortgage origination operations of out wholesale mortgage banking unit: | |||||||||||||
Table 2.1: Results of Discontinued Operations | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Non-interest expense, net | $ | (371 | ) | $ | (343 | ) | $ | (168 | ) | ||||
Loss from discontinued operations before taxes | (371 | ) | (343 | ) | (168 | ) | |||||||
Income tax benefit | (138 | ) | (126 | ) | (62 | ) | |||||||
Loss from discontinued operations | $ | (233 | ) | $ | (217 | ) | $ | (106 | ) | ||||
The loss from discontinued operations includes an expense of $333 million ($210 million, net of tax), $307 million ($194 million, net of tax) and $169 million ($120 million, net of tax) for 2013, 2012 and 2011, respectively, attributable to provisions for mortgage loan repurchase losses related to representations and warranties provided on loans previously sold to third parties by the wholesale mortgage banking unit. See “Note 20—Commitments, Contingencies, Guarantees, and Others” for further details. | |||||||||||||
The discontinued mortgage origination operations of our wholesale mortgage banking unit had remaining assets, which consisted primarily of income tax assets, of $370 million and $309 million as of December 31, 2013 and 2012, respectively. Liabilities, which primarily consisted of reserves for representations and warranties on loans previously sold to third parties, totaled $960 million and $644 million as of December 31, 2013 and 2012, respectively. |
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
NOTE 3—INVESTMENT SECURITIES | |||||||||||||||||||||||||
Our investment portfolio consists primarily of the following: U.S. Treasury debt, U.S. agency debt and corporate debt securities guaranteed by U.S. government agencies (“Agency”); Agency and non-agency RMBS and commercial mortgage-backed securities (“CMBS”); other asset-backed securities (“ABS”), and other investments. The U.S. government agencies include Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and Government National Mortgage Association (“Ginnie Mae”). | |||||||||||||||||||||||||
The carrying value of our investments in U.S. Treasury, agency securities and other securities guaranteed by the U.S. government or agencies of the U.S. government represented 77% of our total investment securities as of December 31, 2013 and 2012. | |||||||||||||||||||||||||
Our investment security portfolio includes securities available for sale as well as securities held to maturity. We classify securities as available for sale or held to maturity based on our investment strategy and management’s assessment of our intent and ability to hold the securities until maturity. In the third quarter of 2013, we transferred securities with a fair value of $18.3 billion on the date of transfer, from securities available for sale to securities held to maturity. We transferred these securities to held to maturity in consideration of changes to regulatory capital requirements under the final Basel III capital standard, which will begin including changes in AOCI due to securities price fluctuations. The securities included net pre-tax unrealized losses of $1.5 billion at the date of transfer. | |||||||||||||||||||||||||
The table below presents the overview of our investment portfolio at December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.1 Overview of Investment Portfolio | |||||||||||||||||||||||||
(Dollars in millions) | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Securities available for sale, at fair value | $ | 41,800 | $ | 63,979 | |||||||||||||||||||||
Securities held to maturity, at carrying value | 19,132 | 9 | |||||||||||||||||||||||
Total investments | $ | 60,932 | $ | 63,988 | |||||||||||||||||||||
The table below presents the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale at December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.2 Investment Securities Available for Sale | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses(1) | ||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 831 | $ | 2 | $ | 0 | $ | 833 | |||||||||||||||||
U.S. Agency debt obligations | 1 | 0 | 0 | 1 | |||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 1,282 | 1 | (49 | ) | 1,234 | ||||||||||||||||||||
Residential mortgage-backed securities (“RMBS”): | |||||||||||||||||||||||||
Agency | 21,572 | 239 | (332 | ) | 21,479 | ||||||||||||||||||||
Non-agency | 3,165 | 450 | (15 | ) | 3,600 | ||||||||||||||||||||
Total RMBS | 24,737 | 689 | (347 | ) | 25,079 | ||||||||||||||||||||
Commercial mortgage-backed securities (“CMBS”): | |||||||||||||||||||||||||
Agency | 4,262 | 20 | (84 | ) | 4,198 | ||||||||||||||||||||
Non-agency | 1,854 | 14 | (60 | ) | 1,808 | ||||||||||||||||||||
Total CMBS | 6,116 | 34 | (144 | ) | 6,006 | ||||||||||||||||||||
Other assets backed securities (“ABS”)(2) | 7,123 | 49 | (36 | ) | 7,136 | ||||||||||||||||||||
Other securities(3) | 1,542 | 24 | (55 | ) | 1,511 | ||||||||||||||||||||
Total investment securities available for sale | $ | 41,632 | $ | 799 | $ | (631 | ) | $ | 41,800 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses(1) | ||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 1,548 | $ | 4 | $ | 0 | $ | 1,552 | |||||||||||||||||
U.S. Agency debt obligations | 301 | 2 | (1 | ) | 302 | ||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 1,003 | 10 | (1 | ) | 1,012 | ||||||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 39,408 | 652 | (58 | ) | 40,002 | ||||||||||||||||||||
Non-agency | 3,607 | 312 | (48 | ) | 3,871 | ||||||||||||||||||||
Total RMBS | 43,015 | 964 | (106 | ) | 43,873 | ||||||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 6,045 | 103 | (4 | ) | 6,144 | ||||||||||||||||||||
Non-agency | 1,425 | 62 | (2 | ) | 1,485 | ||||||||||||||||||||
Total CMBS | 7,470 | 165 | (6 | ) | 7,629 | ||||||||||||||||||||
Other ABS(2) | 8,393 | 70 | (5 | ) | 8,458 | ||||||||||||||||||||
Other securities(3) | 1,120 | 34 | (1 | ) | 1,153 | ||||||||||||||||||||
Total investment securities available for sale | $ | 62,850 | $ | 1,249 | $ | (120 | ) | $ | 63,979 | ||||||||||||||||
(1) | Includes non-credit related OTTI losses recorded in AOCI of $12 million and $38 million as of December 31, 2013 and 2012, respectively, substantially all of which is related to non-agency RMBS. | ||||||||||||||||||||||||
(2) | The ABS collateralized by credit card loans constituted approximately 65% and 64% of the other ABS portfolio as of December 31, 2013, and 2012, respectively, and ABS collateralized by auto dealer floor plan inventory loans and leases constituted approximately 15% and 18% of the other ABS portfolio as of December 31, 2013, and 2012, respectively. Approximately 87% of the securities in our other asset-backed security portfolio were rated AAA or its equivalent as of December 31, 2013, compared with 82% as of December 31, 2012. | ||||||||||||||||||||||||
(3) | Includes foreign government/agency bonds, covered bonds, corporate securities, municipal securities and equity investments primarily related to activities under the Community Reinvestment Act (“CRA”). | ||||||||||||||||||||||||
The table below presents the carrying value, gross unrealized gains and losses, and fair value of securities held to maturity at December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.3 Investment Securities Held to Maturity | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Unrealized | Carrying | Gross | Gross | Fair | |||||||||||||||||||
Cost | Losses | Value | Unrealized | Unrealized | Value | ||||||||||||||||||||
Recorded | Gains | Losses | |||||||||||||||||||||||
in AOCI(1) | |||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||
RMBS | |||||||||||||||||||||||||
Agency | $ | 18,746 | $ | (1,303 | ) | $ | 17,443 | $ | 72 | $ | (30 | ) | $ | 17,485 | |||||||||||
CMBS | |||||||||||||||||||||||||
Agency | 1,821 | (132 | ) | 1,689 | 16 | (5 | ) | 1,700 | |||||||||||||||||
Total investment securities held to maturity | $ | 20,567 | $ | (1,435 | ) | $ | 19,132 | $ | 88 | $ | (35 | ) | $ | 19,185 | |||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Unrealized | Carrying | Gross | Gross | Fair | |||||||||||||||||||
Cost | Losses | Value | Unrealized | Unrealized | Value | ||||||||||||||||||||
Recorded | Gains | Losses | |||||||||||||||||||||||
in AOCI(1) | |||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||
Other ABS | $ | 9 | $ | 0 | $ | 9 | $ | 0 | $ | 0 | $ | 9 | |||||||||||||
Total investment securities held to maturity | $ | 9 | $ | 0 | $ | 9 | $ | 0 | $ | 0 | $ | 9 | |||||||||||||
(1) | Represents the unrealized holding gain or loss at the date of transfer from available for sale to held to maturity, net of any accretion. | ||||||||||||||||||||||||
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 December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||
Table 3.4: Securities in Unrealized Loss Position | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
(Dollars in millions) | Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | |||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | $ | 1,143 | $ | (47 | ) | $ | 46 | $ | (2 | ) | $ | 1,189 | $ | (49 | ) | ||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 9,769 | (263 | ) | 1,770 | (69 | ) | 11,539 | (332 | ) | ||||||||||||||||
Non-agency | 454 | (10 | ) | 56 | (5 | ) | 510 | (15 | ) | ||||||||||||||||
Total RMBS | 10,223 | (273 | ) | 1,826 | (74 | ) | 12,049 | (347 | ) | ||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 2,842 | (74 | ) | 256 | (10 | ) | 3,098 | (84 | ) | ||||||||||||||||
Non-agency | 952 | (43 | ) | 183 | (17 | ) | 1,135 | (60 | ) | ||||||||||||||||
Total CMBS | 3,794 | (117 | ) | 439 | (27 | ) | 4,233 | (144 | ) | ||||||||||||||||
Other ABS | 2,528 | (34 | ) | 392 | (2 | ) | 2,920 | (36 | ) | ||||||||||||||||
Other securities | 1,149 | (51 | ) | 57 | (4 | ) | 1,206 | (55 | ) | ||||||||||||||||
Total investment securities available for sale in a gross unrealized loss position | $ | 18,837 | $ | (522 | ) | $ | 2,760 | $ | (109 | ) | $ | 21,597 | $ | (631 | ) | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
(Dollars in millions) | Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | |||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
U.S. Agency debt obligations | $ | 199 | $ | (1 | ) | $ | 0 | $ | 0 | $ | 199 | $ | (1 | ) | |||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 172 | (1 | ) | 0 | 0 | 172 | (1 | ) | |||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 8,720 | (46 | ) | 884 | (12 | ) | 9,604 | (58 | ) | ||||||||||||||||
Non-agency | 196 | (19 | ) | 471 | (29 | ) | 667 | (48 | ) | ||||||||||||||||
Total RMBS | 8,916 | (65 | ) | 1,355 | (41 | ) | 10,271 | (106 | ) | ||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 1,009 | (4 | ) | 0 | 0 | 1,009 | (4 | ) | |||||||||||||||||
Non-agency | 201 | (2 | ) | 0 | 0 | 201 | (2 | ) | |||||||||||||||||
Total CMBS | 1,210 | (6 | ) | 0 | 0 | 1,210 | (6 | ) | |||||||||||||||||
Other ABS | 1,102 | (4 | ) | 99 | (1 | ) | 1,201 | (5 | ) | ||||||||||||||||
Other securities | 103 | 0 | 13 | (1 | ) | 116 | (1 | ) | |||||||||||||||||
Total investment securities available for sale in a gross unrealized loss position | $ | 11,702 | $ | (77 | ) | $ | 1,467 | $ | (43 | ) | $ | 13,169 | $ | (120 | ) | ||||||||||
At December 31, 2013, the amortized cost of approximately 900 securities available for sale exceeded their fair value by $631 million, of which $109 million related to investment securities that had been in a loss position for 12 months or longer. Our investments in non-agency RMBS and CMBS, non-agency ABS, and other securities accounted for $166 million, or 26%, of total gross unrealized losses on securities available for sale as of December 31, 2013. | |||||||||||||||||||||||||
As of December 31, 2013, the carrying value of less than 100 securities held to maturity exceeded their fair value by $35 million. All of these unrecognized losses relate to securities held to maturity that have been in a loss position for less than 12 months as of December 31, 2013. | |||||||||||||||||||||||||
As discussed in more detail below in the “Other-Than-Temporary Impairment” section of this footnote, we conduct periodic reviews of all investment securities with unrealized losses to assess whether the impairment is other-than-temporary. Based on our assessments, we have recorded credit impairment of $41 million for the year ended December 31, 2013, and non-credit related OTTI recorded in AOCI of $12 million as of December 31, 2013, both of which were substantially related to our non-agency RMBS. | |||||||||||||||||||||||||
Maturities and Yields of Investment Securities | |||||||||||||||||||||||||
The following tables summarizes the remaining scheduled contractual maturities, assuming no prepayments, of our investment securities as of December 31, 2013: | |||||||||||||||||||||||||
Table 3.5: Contractual Maturities of Securities Available for Sale | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Fair Value | |||||||||||||||||||||||
Cost | |||||||||||||||||||||||||
Due in 1 year or less | $ | 1,876 | $ | 1,879 | |||||||||||||||||||||
Due after 1 year through 5 years | 5,668 | 5,673 | |||||||||||||||||||||||
Due after 5 years through 10 years | 4,204 | 4,112 | |||||||||||||||||||||||
Due after 10 years(1) | 29,884 | 30,136 | |||||||||||||||||||||||
Total | $ | 41,632 | $ | 41,800 | |||||||||||||||||||||
(1) | Investments with no stated maturities, which consist of equity securities, are included with contractual maturities due after 10 years. | ||||||||||||||||||||||||
Table 3.6: Contractual Maturities of Securities Held to Maturity | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Carrying | Fair Value | |||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due after 5 years through 10 years | $ | 1,062 | $ | 1,076 | |||||||||||||||||||||
Due after 10 years | 18,070 | 18,109 | |||||||||||||||||||||||
Total | $ | 19,132 | $ | 19,185 | |||||||||||||||||||||
Because borrowers may have the right to call or prepay certain obligations, the expected maturities of our securities are likely to differ from the scheduled contractual maturities presented above. The table below summarizes, by major security type, the expected maturities and the expected weighted average yields of our investment securities as of December 31, 2013. | |||||||||||||||||||||||||
Table 3.7: Expected Maturities and Weighted Average Yields of Securities | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Due in 1 Year | Due > 1 Year | Due > 5 Years | Due > 10 Years | Total | |||||||||||||||||||||
or Less | through | through | |||||||||||||||||||||||
5 Years | 10 Years | ||||||||||||||||||||||||
(Dollars in millions) | Amount | Amount | Amount | Amount | Amount | ||||||||||||||||||||
Fair value of securities available for sale: | |||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 663 | $ | 170 | $ | 0 | $ | 0 | $ | 833 | |||||||||||||||
U.S. Agency debt obligations | 1 | 0 | 0 | 0 | 1 | ||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 0 | 220 | 1,001 | 13 | 1,234 | ||||||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 94 | 5,721 | 15,664 | 0 | 21,479 | ||||||||||||||||||||
Non-agency | 42 | 1,605 | 1,547 | 406 | 3,600 | ||||||||||||||||||||
Total RMBS | 136 | 7,326 | 17,211 | 406 | 25,079 | ||||||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 358 | 2,884 | 956 | 0 | 4,198 | ||||||||||||||||||||
Non-agency | 110 | 481 | 1,199 | 18 | 1,808 | ||||||||||||||||||||
Total CMBS | 468 | 3,365 | 2,155 | 18 | 6,006 | ||||||||||||||||||||
Other ABS | 1,580 | 4,628 | 808 | 120 | 7,136 | ||||||||||||||||||||
Other securities(1) | 174 | 503 | 718 | 116 | 1,511 | ||||||||||||||||||||
Total securities available for sale | 3,022 | 16,212 | 21,893 | 673 | 41,800 | ||||||||||||||||||||
Amortized cost of securities available for sale | $ | 3,019 | $ | 16,028 | $ | 22,001 | $ | 584 | $ | 41,632 | |||||||||||||||
Weighted average yield for securities available for sale(2) | 1.25 | % | 2.29 | % | 2.68 | % | 7.57 | % | 2.5 | % | |||||||||||||||
Carrying value of securities held to maturity: | |||||||||||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | $ | 0 | $ | 0 | $ | 11,845 | $ | 5,598 | $ | 17,443 | |||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 0 | 400 | 1,281 | 8 | 1,689 | ||||||||||||||||||||
Total securities held for maturity | 0 | 400 | 13,126 | 5,606 | 19,132 | ||||||||||||||||||||
Fair value of securities held to maturity | $ | 0 | $ | 400 | $ | 13,164 | $ | 5,621 | $ | 19,185 | |||||||||||||||
Weighted average yield for securities held to maturity(2) | 0 | % | 3.46 | % | 3.09 | % | 3.33 | % | 3.17 | % | |||||||||||||||
(1) | Yields of tax-exempt securities are calculated on a fully taxable-equivalent (“FTE”) basis. | ||||||||||||||||||||||||
(2) | Yields are calculated based on the amortized cost of each security. | ||||||||||||||||||||||||
Other-Than-Temporary Impairment | |||||||||||||||||||||||||
We evaluate all securities in an unrealized loss position at least on a quarterly basis, and more often as market conditions require, to assess whether the impairment is other-than-temporary. Our OTTI assessment is based on a discounted cash flow analysis which requires careful use of judgments and assumptions. A number of qualitative and quantitative criteria may be considered in our assessment as applicable, including the size and the nature of the portfolio; historical and projected performance such as prepayment, default and loss severity for the RMBS portfolio; recent credit events specific to the issuer and/or industry to which the issuer belongs; the payment structure of the security; external credit ratings of the issuer and any failure or delay of the issuer to make scheduled interest or principal payments; the value of underlying collateral; our intent and ability to hold the security for a long term; and current and projected market and macro-economic conditions. | |||||||||||||||||||||||||
For a debt security that has experienced a decline in the fair value below amortized cost basis, we recognize OTTI in earnings if we have the intent to sell the security, or if we believe it is more-likely-than-not that we will be required to sell in the near term. For those securities that we do not intend to sell or expect to be required to sell, an analysis is performed to determine if any of the impairment is due to credit or whether it is due to other factors, such as interest rates. Credit-related impairment is recognized in earnings, with the remaining unrealized non-credit related impairment recorded in AOCI. We determine the credit component based on the difference between the security’s amortized cost basis and the present value of its expected cash flows, discounted based on the effective yield. | |||||||||||||||||||||||||
The table below presents activity for the years ended December 31, 2013, 2012 and 2011, related to the credit component of OTTI recognized in earnings on debt securities: | |||||||||||||||||||||||||
Table 3.8 Credit Impairment Rollforward | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Credit loss component, beginning of period | $ | 120 | $ | 68 | $ | 49 | |||||||||||||||||||
Additions: | |||||||||||||||||||||||||
Initial credit impairment | 14 | 22 | 3 | ||||||||||||||||||||||
Subsequent credit impairment | 27 | 30 | 18 | ||||||||||||||||||||||
Total additions | 41 | 52 | 21 | ||||||||||||||||||||||
Reductions: | |||||||||||||||||||||||||
Payoff or sales of credit-impaired securities | (1 | ) | 0 | (2 | ) | ||||||||||||||||||||
Credit loss component, end of period | $ | 160 | $ | 120 | $ | 68 | |||||||||||||||||||
Gross unrealized losses on our investment securities have generally increased since December 31, 2012. We believe the unrealized losses related to investment securities for which we have not recognized credit impairment are primarily attributable to changes in market interest rates. In addition, we do not intend to sell these securities with unrealized losses, and it is not likely that we will be required to sell these securities prior to recovery of their amortized cost. Except for the securities reported in the table above for which credit losses have been recognized in earnings, we believe the securities with an unrealized loss in AOCI are not other than temporarily impaired as of December 31, 2013. | |||||||||||||||||||||||||
Realized Gains and Losses on Securities | |||||||||||||||||||||||||
The following table presents the gross realized gains and losses on the sale and redemption of securities available for sale recognized in earnings for the years ended December 31, 2013, 2012 and 2011. The gross realized investment losses presented below exclude credit losses recognized in earnings attributable to OTTI. 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 held to maturity. | |||||||||||||||||||||||||
Table 3.9: Realized Gains and Losses on Securities Available for Sale | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Gross realized investment gains | $ | 8 | $ | 56 | $ | 259 | |||||||||||||||||||
Gross realized investment losses | (1 | ) | (11 | ) | 0 | ||||||||||||||||||||
Net realized gains | $ | 7 | $ | 45 | $ | 259 | |||||||||||||||||||
Total proceeds from sales | $ | 2,539 | $ | 16,894 | $ | 9,169 | |||||||||||||||||||
Securities Pledged and Received | |||||||||||||||||||||||||
As part of our liquidity management strategy, we pledge securities to secure borrowings from counterparties including the FHLB and the Federal Reserve Bank. 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 $10.7 billion and $13.8 billion as of December 31, 2013 and 2012, respectively. We pledged securities held to maturity with a carrying value of $8.2 billion as of December 31, 2013, and we did not pledge any securities held to maturity as of December 31, 2012. Of the total securities pledged as collateral, we have encumbered $17.3 billion and $13.8 billion as of December 31, 2013, and 2012 respectively, primarily related to FHLB transactions and Public Fund deposits. We accepted pledges of securities with a fair value of $53 million and $238 million as of December 31, 2013 and 2012, respectively, primarily related to our derivative transactions. | |||||||||||||||||||||||||
Securities Acquired | |||||||||||||||||||||||||
Our investment portfolio includes certain acquired debt securities that were deemed to be credit impaired at acquisition date. These securities are accounted for in accordance with accounting guidance for purchased credit-impaired debt securities. | |||||||||||||||||||||||||
Outstanding Balance and Carrying Value of Acquired Securities | |||||||||||||||||||||||||
The table below presents the outstanding contractual balance and the carrying value of the acquired credit-impaired debt securities as of December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.10: Outstanding Balance and Carrying Value of Acquired Securities | |||||||||||||||||||||||||
(Dollars in millions) | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Contractual principal and interest | $ | 4,700 | $ | 5,242 | |||||||||||||||||||||
Carrying value | 2,896 | 2,887 | |||||||||||||||||||||||
Amortized Cost | 2,432 | 2,585 | |||||||||||||||||||||||
Changes in Accretable Yield of Acquired Securities | |||||||||||||||||||||||||
The following table presents changes in the accretable yield related to the acquired credit-impaired debt securities: | |||||||||||||||||||||||||
Table 3.11: Changes in Accretable Yield of Acquired Securities | |||||||||||||||||||||||||
(Dollars in millions) | Purchased | ||||||||||||||||||||||||
Credit-Impaired | |||||||||||||||||||||||||
Securities | |||||||||||||||||||||||||
Accretable yield as of December 31, 2011 | $ | 0 | |||||||||||||||||||||||
Additions from new acquisitions(1) | 1,743 | ||||||||||||||||||||||||
Accretion recognized in earnings | (202 | ) | |||||||||||||||||||||||
Reductions due to disposals, transfers, and other | 0 | ||||||||||||||||||||||||
Net reclassifications (to)/from nonaccretable difference | (29 | ) | |||||||||||||||||||||||
Accretable yield as of December 31, 2012 | $ | 1,512 | |||||||||||||||||||||||
Additions from new acquisitions | 88 | ||||||||||||||||||||||||
Accretion recognized in earnings | (247 | ) | |||||||||||||||||||||||
Reduction due to disposals, transfers, and other | (2 | ) | |||||||||||||||||||||||
Net reclassifications (to)/from nonaccretable difference | 72 | ||||||||||||||||||||||||
Accretable yield as of December 31, 2013 | $ | 1,423 | |||||||||||||||||||||||
-1 | Includes securities acquired in the ING Direct acquisition as well as other securities purchased. |
Loans
Loans | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||||||
NOTE 4—LOANS | |||||||||||||||||||||||||||||||||||||
Loan Portfolio Composition | |||||||||||||||||||||||||||||||||||||
Our total loan portfolio consists of loans held for investment, loans held for sale and loans underlying our securitization trust. Our loan portfolio, by segment, consists of credit card, consumer banking and commercial banking loans. Credit card loans consist of domestic and international credit card loans as well as installment 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. | |||||||||||||||||||||||||||||||||||||
Loans Acquired in Business Acquisitions | |||||||||||||||||||||||||||||||||||||
Loans Acquired and Accounted for Based on Expected Cash Flows | |||||||||||||||||||||||||||||||||||||
Our portfolio of loans held for investment includes loans acquired in the CCB, ING Direct and 2012 U.S. card acquisitions. These loans were recorded at fair value at the date of each acquisition. | |||||||||||||||||||||||||||||||||||||
Acquired Loans accounted for based on expected cash flows to be collected was $28.6 billion as of December 31, 2013, compared with $37.1 billion as of December 31, 2012. | |||||||||||||||||||||||||||||||||||||
We regularly update our estimate of the amount of expected principal and interest to be collected from these loans and evaluate the results on an aggregated pool basis for loans with common risk characteristics. Probable decreases in expected cash flows would trigger the recognition of a loan loss through our provision for credit losses. Probable and significant increases in expected cash flows would first reverse any previously recorded allowance for loan and lease losses established subsequent to acquisition, with any remaining increase in expected cash flows recognized prospectively in interest income over the remaining estimated life of the underlying loans. We reduced the allowance and provision for credit losses by $19 million for the year ended December 31, 2013 and increased the allowance and provision for credit losses by $31 million for the year ended December 31, 2012 related to certain pools of Acquired Loans. The allowance on Acquired Loans totaled $38 million and $57 million as of December 31, 2013 and 2012, respectively. The credit performance of the remaining pools has generally been more favorable than expected, which has resulted in the reclassification of amounts from the nonaccretable difference to the accretable yield. | |||||||||||||||||||||||||||||||||||||
Loans Acquired and Accounted for Based on Contractual Cash Flows | |||||||||||||||||||||||||||||||||||||
Of the loans acquired in the 2012 U.S. card acquisition, at acquisition there were $26.2 billion of loans designated as held for investment that had revolving privileges at acquisition and were, therefore, accounted for based on contractual cash flows. These loans were recorded at a fair value of $26.9 billion, resulting in a net premium of $705 million at acquisition. We are required to amortize the $705 million net premium as an adjustment to interest income over the remaining life of the loans. Given the guidance applicable to purchased revolving loans, it was necessary to record an allowance through provision for credit losses to properly recognize an estimate of incurred losses on the existing principal balances. At acquisition, we recorded a provision for credit losses of $1.2 billion to establish an initial allowance primarily related to these loans. The allowance was calculated using the same methodology utilized for determining the allowance for our existing credit card portfolio. The provision for credit losses of $1.2 billion is included in the total provision for credit losses of $4.4 billion recorded during 2012 as indicated in “Note 5—Allowance for Loan and Lease Losses”. | |||||||||||||||||||||||||||||||||||||
Excluded from the amounts above were purchased revolving loans from the 2012 U.S. card acquisition with a fair value of $471 million that we designated as held for sale at acquisition. We closed on the sale of these receivables in the third quarter of 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.1 below presents the composition of our portfolio of loans held for investment, which includes restricted loans for securitization investors, as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.1: Loan Portfolio Composition | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card loans | $ | 72,932 | $ | 82,328 | |||||||||||||||||||||||||||||||||
International credit card loans | 8,050 | 8,614 | |||||||||||||||||||||||||||||||||||
Total credit card loans | 80,982 | 90,942 | |||||||||||||||||||||||||||||||||||
Domestic installment loans | 323 | 813 | |||||||||||||||||||||||||||||||||||
Total credit card | 81,305 | 91,755 | |||||||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 31,857 | 27,123 | |||||||||||||||||||||||||||||||||||
Home loan | 35,282 | 44,100 | |||||||||||||||||||||||||||||||||||
Retail banking | 3,623 | 3,904 | |||||||||||||||||||||||||||||||||||
Total consumer banking | 70,762 | 75,127 | |||||||||||||||||||||||||||||||||||
Commercial Banking:(1) | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 20,750 | 17,732 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 23,309 | 19,892 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 44,059 | 37,624 | |||||||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 952 | 1,196 | |||||||||||||||||||||||||||||||||||
Total commercial banking | 45,011 | 38,820 | |||||||||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other loans | 121 | 187 | |||||||||||||||||||||||||||||||||||
Total loans | $ | 197,199 | $ | 205,889 | |||||||||||||||||||||||||||||||||
-1 | Includes construction loans and land development loans totaling $2.0 billion and $2.1 billion as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||||||
On February 19, 2013, we announced the Portfolio Sale of loans that we acquired in the 2012 U.S. card acquisition. We reclassified the assets subject to the sale agreement, which included loans of approximately $7 billion as of the date of the transfer, to the held for sale category from the held for investment category in the first quarter of 2013. | |||||||||||||||||||||||||||||||||||||
We transferred the net assets subject to the sale agreement to the held for sale category upon meeting the pertinent criteria for this classification during the first quarter of 2013. The loan portfolio was transferred to held for sale based upon the carrying value of the loans, including the transfer of the allowance for loan losses. All other net assets subject to the sale agreement were transferred to held for sale at fair value less costs to sell. During the held for sale period, we continued to recognize interest and fee income on the transferred loans, and did not recognize any impacts from charge-offs and recoveries unless these net charge-offs exceeded the associated transferred allowance for loan losses. The amortization and accretion on the related intangibles ceased upon the transfer to the held for sale category. The Portfolio Sale was completed on September 6, 2013. We recognized $26 million of lower of cost or fair value adjustments related to the portfolio assets. | |||||||||||||||||||||||||||||||||||||
We had total loans held for sale of $218 million and $201 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||||||||||||||
We closely monitor economic conditions and loan performance trends to manage and evaluate our exposure to credit risk. Trends in delinquency ratios are an indicator, among other considerations, of credit risk within our loan portfolios. The level of nonperforming assets 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 asset rates, as well as charge-off rates and our internal risk ratings of larger balance, commercial loans. | |||||||||||||||||||||||||||||||||||||
The following table summarizes the payment status of loans in our total loan portfolio, including an aging of delinquent loans, loans 90 days or more past due that continue to accrue interest and loans classified as nonperforming. We present the information below on the credit performance of our loan portfolio, by major loan category, including key metrics that we use in tracking changes in the credit quality of each of our loan portfolios. The delinquency aging includes all past due loans, both performing and nonperforming, as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.2: Credit Quality | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Current | 30-59 | 60-89 | > 90 | Total | Acquired | Total | > 90 Days | Nonperforming | ||||||||||||||||||||||||||||
Days | Days | Days | Delinquent | Loans | Loans | and | Loans(1) | ||||||||||||||||||||||||||||||
Loans | Accruing(1) | ||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 70,678 | $ | 778 | $ | 549 | $ | 1,187 | $ | 2,514 | $ | 63 | $ | 73,255 | $ | 1,187 | $ | 0 | |||||||||||||||||||
International credit card | 7,683 | 141 | 85 | 141 | 367 | 0 | 8,050 | 96 | 88 | ||||||||||||||||||||||||||||
Total credit card | 78,361 | 919 | 634 | 1,328 | 2,881 | 63 | 81,305 | 1,283 | 88 | ||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 29,477 | 1,519 | 662 | 194 | 2,375 | 5 | 31,857 | 0 | 194 | ||||||||||||||||||||||||||||
Home loan | 6,775 | 60 | 24 | 239 | 323 | 28,184 | 35,282 | 0 | 376 | ||||||||||||||||||||||||||||
Retail banking | 3,535 | 21 | 8 | 23 | 52 | 36 | 3,623 | 2 | 41 | ||||||||||||||||||||||||||||
Total consumer banking | 39,787 | 1,600 | 694 | 456 | 2,750 | 28,225 | 70,762 | 2 | 611 | ||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 20,602 | 17 | 11 | 36 | 64 | 84 | 20,750 | 2 | 52 | ||||||||||||||||||||||||||||
Commercial and industrial | 23,023 | 69 | 1 | 38 | 108 | 178 | 23,309 | 4 | 93 | ||||||||||||||||||||||||||||
Total commercial lending | 43,625 | 86 | 12 | 74 | 172 | 262 | 44,059 | 6 | 145 | ||||||||||||||||||||||||||||
Small-ticket commercial real estate | 941 | 8 | 2 | 1 | 11 | 0 | 952 | 0 | 4 | ||||||||||||||||||||||||||||
Total commercial banking | 44,566 | 94 | 14 | 75 | 183 | 262 | 45,011 | 6 | 149 | ||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other loans | 102 | 4 | 2 | 13 | 19 | 0 | 121 | 0 | 19 | ||||||||||||||||||||||||||||
Total | $ | 162,816 | $ | 2,617 | $ | 1,344 | $ | 1,872 | $ | 5,833 | $ | 28,550 | $ | 197,199 | $ | 1,291 | $ | 867 | |||||||||||||||||||
% of Total loans | 82.5 | % | 1.3 | % | 0.8 | % | 0.9 | % | 3 | % | 14.5 | % | 100 | % | 0.7 | % | 0.4 | % | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Current | 30-59 | 60-89 | > 90 | Total | Acquired | Total | > 90 Days | Nonperforming | ||||||||||||||||||||||||||||
Days | Days | Days | Delinquent | Loans | Loans | and | Loans(1) | ||||||||||||||||||||||||||||||
Loans | Accruing(1) | ||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 79,852 | $ | 932 | $ | 659 | $ | 1,410 | $ | 3,001 | $ | 288 | $ | 83,141 | $ | 1,410 | $ | 0 | |||||||||||||||||||
International credit card | 8,227 | 145 | 89 | 153 | 387 | 0 | 8,614 | 100 | 100 | ||||||||||||||||||||||||||||
Total credit card | 88,079 | 1,077 | 748 | 1,563 | 3,388 | 288 | 91,755 | 1,510 | 100 | ||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 25,057 | 1,341 | 559 | 149 | 2,049 | 17 | 27,123 | 0 | 149 | ||||||||||||||||||||||||||||
Home loan | 7,317 | 63 | 29 | 288 | 380 | 36,403 | 44,100 | 0 | 422 | ||||||||||||||||||||||||||||
Retail banking | 3,789 | 26 | 10 | 45 | 81 | 34 | 3,904 | 1 | 71 | ||||||||||||||||||||||||||||
Total consumer banking | 36,163 | 1,430 | 598 | 482 | 2,510 | 36,454 | 75,127 | 1 | 642 | ||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 17,357 | 64 | 77 | 107 | 248 | 127 | 17,732 | 2 | 137 | ||||||||||||||||||||||||||||
Commercial and industrial | 19,525 | 57 | 3 | 75 | 135 | 232 | 19,892 | 14 | 133 | ||||||||||||||||||||||||||||
Total commercial lending | 36,882 | 121 | 80 | 182 | 383 | 359 | 37,624 | 16 | 270 | ||||||||||||||||||||||||||||
Small-ticket commercial real estate | 1,153 | 28 | 9 | 6 | 43 | 0 | 1,196 | 0 | 12 | ||||||||||||||||||||||||||||
Total commercial banking | 38,035 | 149 | 89 | 188 | 426 | 359 | 38,820 | 16 | 282 | ||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other loans | 118 | 8 | 5 | 23 | 36 | 33 | 187 | 0 | 30 | ||||||||||||||||||||||||||||
Total | $ | 162,395 | $ | 2,664 | $ | 1,440 | $ | 2,256 | $ | 6,360 | $ | 37,134 | $ | 205,889 | $ | 1,527 | $ | 1,054 | |||||||||||||||||||
% of Total loans | 78.9 | % | 1.3 | % | 0.7 | % | 1.1 | % | 3.1 | % | 18 | % | 100 | % | 0.7 | % | 0.5 | % | |||||||||||||||||||
-1 | Nonperforming loans generally include loans that have been placed on nonaccrual status. Acquired Loans are excluded from loans reported as 90 days and accruing interest as well as nonperforming loans. | ||||||||||||||||||||||||||||||||||||
Credit Card | |||||||||||||||||||||||||||||||||||||
Our credit card loan portfolio is generally highly diversified across millions of accounts and multiple geographies without significant individual exposures. We therefore generally manage credit risk on a portfolio basis. The risk in our credit card portfolio is correlated with broad economic trends, such as unemployment rates, gross domestic product (“GDP”), and home values, as well as customer liquidity, which can have a material effect on credit performance. The primary factors we assess in monitoring the credit quality and risk of our credit card portfolio are delinquency and charge-off trends, including an analysis of the migration of loans between delinquency categories over time. The table below displays the geographic profile of our credit card loan portfolio and delinquency statistics as of December 31, 2013 and 2012. We also present comparative net charge-offs for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.3: Credit Card: Risk Profile by Geographic Region and Delinquency Status | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Acquired | % of | Total | % of | |||||||||||||||||||||||||||||||
Total(1) | Loans | Total(1) | Total(1) | ||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
California | $ | 7,934 | 9.8 | % | $ | 6 | 0 | % | $ | 7,940 | 9.8 | % | |||||||||||||||||||||||||
New York | 5,271 | 6.5 | 6 | 0 | 5,277 | 6.5 | |||||||||||||||||||||||||||||||
Texas | 4,989 | 6.1 | 4 | 0 | 4,993 | 6.1 | |||||||||||||||||||||||||||||||
Florida | 4,321 | 5.3 | 4 | 0 | 4,325 | 5.3 | |||||||||||||||||||||||||||||||
Illinois | 3,600 | 4.4 | 3 | 0 | 3,603 | 4.4 | |||||||||||||||||||||||||||||||
Pennsylvania | 3,439 | 4.2 | 3 | 0 | 3,442 | 4.2 | |||||||||||||||||||||||||||||||
Ohio | 2,963 | 3.6 | 2 | 0 | 2,965 | 3.6 | |||||||||||||||||||||||||||||||
New Jersey | 2,734 | 3.4 | 2 | 0 | 2,736 | 3.4 | |||||||||||||||||||||||||||||||
Michigan | 2,593 | 3.2 | 2 | 0 | 2,595 | 3.2 | |||||||||||||||||||||||||||||||
Other | 35,348 | 43.5 | 31 | 0.1 | 35,379 | 43.6 | |||||||||||||||||||||||||||||||
Total domestic credit card and installment loans | 73,192 | 90 | 63 | 0.1 | 73,255 | 90.1 | |||||||||||||||||||||||||||||||
International credit card: | |||||||||||||||||||||||||||||||||||||
United Kingdom | 3,547 | 4.4 | 0 | 0 | 3,547 | 4.4 | |||||||||||||||||||||||||||||||
Canada | 4,503 | 5.5 | 0 | 0 | 4,503 | 5.5 | |||||||||||||||||||||||||||||||
Total international credit card | 8,050 | 9.9 | 0 | 0 | 8,050 | 9.9 | |||||||||||||||||||||||||||||||
Total credit card and installment loans | $ | 81,242 | 99.9 | % | $ | 63 | 0.1 | % | $ | 81,305 | 100 | % | |||||||||||||||||||||||||
Selected credit metrics: | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies(2) | $ | 2,864 | 3.52 | % | $ | 17 | 0.02 | % | $ | 2,881 | 3.54 | % | |||||||||||||||||||||||||
90+ day delinquencies(2) | 1,321 | 1.62 | 7 | 0.01 | 1,328 | 1.63 | |||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Acquired | % of | Total | % of | |||||||||||||||||||||||||||||||
Total(1) | Loans | Total(1) | Total(1) | ||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
California | $ | 9,245 | 10 | % | $ | 31 | 0.1 | % | $ | 9,276 | 10.1 | % | |||||||||||||||||||||||||
Texas | 5,910 | 6.5 | 23 | 0 | 5,933 | 6.5 | |||||||||||||||||||||||||||||||
New York | 5,846 | 6.4 | 23 | 0 | 5,869 | 6.4 | |||||||||||||||||||||||||||||||
Florida | 4,835 | 5.3 | 17 | 0 | 4,852 | 5.3 | |||||||||||||||||||||||||||||||
Illinois | 4,100 | 4.5 | 15 | 0 | 4,115 | 4.5 | |||||||||||||||||||||||||||||||
Pennsylvania | 3,861 | 4.2 | 14 | 0 | 3,875 | 4.2 | |||||||||||||||||||||||||||||||
Ohio | 3,351 | 3.6 | 12 | 0 | 3,363 | 3.6 | |||||||||||||||||||||||||||||||
New Jersey | 3,060 | 3.3 | 10 | 0 | 3,070 | 3.3 | |||||||||||||||||||||||||||||||
Michigan | 2,917 | 3.2 | 11 | 0 | 2,928 | 3.2 | |||||||||||||||||||||||||||||||
Other | 39,728 | 43.3 | 132 | 0.2 | 39,860 | 43.5 | |||||||||||||||||||||||||||||||
Total domestic credit card and installment loans | 82,853 | 90.3 | 288 | 0.3 | 83,141 | 90.6 | |||||||||||||||||||||||||||||||
International credit card: | |||||||||||||||||||||||||||||||||||||
United Kingdom | 3,678 | 4 | 0 | 0 | 3,678 | 4 | |||||||||||||||||||||||||||||||
Canada | 4,936 | 5.4 | 0 | 0 | 4,936 | 5.4 | |||||||||||||||||||||||||||||||
Total international credit card | 8,614 | 9.4 | 0 | 0 | 8,614 | 9.4 | |||||||||||||||||||||||||||||||
Total credit card and installment loans | $ | 91,467 | 99.7 | % | $ | 288 | 0.3 | % | $ | 91,755 | 100 | % | |||||||||||||||||||||||||
Selected credit metrics: | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies(2) | $ | 3,326 | 3.62 | % | $ | 62 | 0.07 | % | $ | 3,388 | 3.69 | % | |||||||||||||||||||||||||
90+ day delinquencies(2) | 1,530 | 1.67 | 33 | 0.03 | 1,563 | 1.7 | |||||||||||||||||||||||||||||||
(1) | Percentages by geographic region within the domestic and international credit card portfolios are calculated based on the total held-for-investment credit card loans as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
(2) | Delinquency rates calculated by dividing delinquent credit card loans by the total balance of credit card loans held for investment as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
Table 4.4: Credit Card: Net Charge-offs | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Rate(1) | Amount | Rate(1) | |||||||||||||||||||||||||||||||||
Net charge-offs: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 2,904 | 4.08 | % | $ | 2,532 | 3.53 | % | |||||||||||||||||||||||||||||
International credit card | 381 | 4.78 | 412 | 4.98 | |||||||||||||||||||||||||||||||||
Total | $ | 3,285 | 4.15 | % | $ | 2,944 | 3.68 | % | |||||||||||||||||||||||||||||
(1) | Calculated for each loan category by dividing net charge-offs for the period by average loans held for investment during the period. | ||||||||||||||||||||||||||||||||||||
The 30+ day delinquency rate for our entire credit card loan portfolio decreased to 3.54% as of December 31, 2013, from 3.69% as of December 31, 2012, reflecting underlying credit improvement trends. | |||||||||||||||||||||||||||||||||||||
Consumer Banking | |||||||||||||||||||||||||||||||||||||
Our consumer banking loan portfolio consists of auto, home loan and retail banking loans. Similar to our credit card loan portfolio, the risk in our consumer banking loan portfolio is correlated with broad economic trends, such as unemployment rates, GDP, and home values, as well as customer liquidity, all of which can have a material effect on credit performance. Delinquency, nonperforming loans and charge-off trends are key factors 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 Acquired Loans. We also present the delinquency and nonperforming loan rates of our consumer banking loan portfolio, excluding Acquired Loans, as of December 31, 2013 and 2012, and net charge-offs for 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.5: Consumer Banking: Risk Profile by Geographic Region, Delinquency Status and Performing Status | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Loans | % of | Loans | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Auto: | |||||||||||||||||||||||||||||||||||||
Texas | $ | 4,736 | 6.7 | % | $ | 0 | 0 | % | $ | 4,736 | 6.7 | % | |||||||||||||||||||||||||
California | 3,297 | 4.7 | 0 | 0 | 3,297 | 4.7 | |||||||||||||||||||||||||||||||
Florida | 2,076 | 2.9 | 0 | 0 | 2,076 | 2.9 | |||||||||||||||||||||||||||||||
Georgia | 1,709 | 2.4 | 0 | 0 | 1,709 | 2.4 | |||||||||||||||||||||||||||||||
Louisiana | 1,677 | 2.4 | 0 | 0 | 1,677 | 2.4 | |||||||||||||||||||||||||||||||
Illinois | 1,291 | 1.8 | 0 | 0 | 1,291 | 1.8 | |||||||||||||||||||||||||||||||
Ohio | 1,267 | 1.8 | 0 | 0 | 1,267 | 1.8 | |||||||||||||||||||||||||||||||
Other | 15,799 | 22.3 | 5 | 0 | 15,804 | 22.3 | |||||||||||||||||||||||||||||||
Total auto | 31,852 | 45 | 5 | 0 | 31,857 | 45 | |||||||||||||||||||||||||||||||
Home loan: | |||||||||||||||||||||||||||||||||||||
California | 1,010 | 1.5 | 7,153 | 10.1 | 8,163 | 11.6 | |||||||||||||||||||||||||||||||
New York | 1,502 | 2.1 | 1,265 | 1.8 | 2,767 | 3.9 | |||||||||||||||||||||||||||||||
Illinois | 88 | 0.1 | 2,183 | 3.1 | 2,271 | 3.2 | |||||||||||||||||||||||||||||||
Maryland | 418 | 0.6 | 1,495 | 2.1 | 1,913 | 2.7 | |||||||||||||||||||||||||||||||
New Jersey | 362 | 0.5 | 1,409 | 2 | 1,771 | 2.5 | |||||||||||||||||||||||||||||||
Virginia | 351 | 0.5 | 1,367 | 1.9 | 1,718 | 2.4 | |||||||||||||||||||||||||||||||
Florida | 177 | 0.3 | 1,477 | 2.1 | 1,654 | 2.4 | |||||||||||||||||||||||||||||||
Other | 3,190 | 4.5 | 11,835 | 16.7 | 15,025 | 21.2 | |||||||||||||||||||||||||||||||
Total home loan | 7,098 | 10.1 | 28,184 | 39.8 | 35,282 | 49.9 | |||||||||||||||||||||||||||||||
Retail banking: | |||||||||||||||||||||||||||||||||||||
Louisiana | 1,234 | 1.7 | 0 | 0 | 1,234 | 1.7 | |||||||||||||||||||||||||||||||
New York | 859 | 1.2 | 0 | 0 | 859 | 1.2 | |||||||||||||||||||||||||||||||
Texas | 772 | 1.1 | 0 | 0 | 772 | 1.1 | |||||||||||||||||||||||||||||||
New Jersey | 280 | 0.4 | 0 | 0 | 280 | 0.4 | |||||||||||||||||||||||||||||||
Maryland | 125 | 0.1 | 17 | 0.1 | 142 | 0.2 | |||||||||||||||||||||||||||||||
Virginia | 96 | 0.1 | 12 | 0 | 108 | 0.1 | |||||||||||||||||||||||||||||||
California | 37 | 0.1 | 0 | 0 | 37 | 0.1 | |||||||||||||||||||||||||||||||
Other | 184 | 0.3 | 7 | 0 | 191 | 0.3 | |||||||||||||||||||||||||||||||
Total retail banking | 3,587 | 5 | 36 | 0.1 | 3,623 | 5.1 | |||||||||||||||||||||||||||||||
Total consumer banking | $ | 42,537 | 60.1 | % | $ | 28,225 | 39.9 | % | $ | 70,762 | 100 | % | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Auto | Home Loan | Retail Banking | Total Consumer | ||||||||||||||||||||||||||||||||||
Banking | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | |||||||||||||||||||||||||||||
Rate(2) | Rate(2) | Rate(2) | Rate(2) | ||||||||||||||||||||||||||||||||||
Credit performance: | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies | $ | 2,375 | 7.46 | % | $ | 323 | 4.55 | % | $ | 52 | 1.46 | % | $ | 2,750 | 6.47 | % | |||||||||||||||||||||
90+ day delinquencies | 194 | 0.61 | 239 | 3.37 | 23 | 0.66 | 456 | 1.07 | |||||||||||||||||||||||||||||
Nonperforming loans | 194 | 0.61 | 376 | 5.29 | 41 | 1.15 | 611 | 1.44 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Loans | % of | Loans | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Auto: | |||||||||||||||||||||||||||||||||||||
Texas | $ | 4,317 | 5.7 | % | $ | 0 | 0 | % | $ | 4,317 | 5.7 | % | |||||||||||||||||||||||||
California | 2,676 | 3.6 | 0 | 0 | 2,676 | 3.6 | |||||||||||||||||||||||||||||||
Florida | 1,621 | 2.1 | 0 | 0 | 1,621 | 2.1 | |||||||||||||||||||||||||||||||
Louisiana | 1,504 | 2 | 0 | 0 | 1,504 | 2 | |||||||||||||||||||||||||||||||
Georgia | 1,404 | 1.9 | 0 | 0 | 1,404 | 1.9 | |||||||||||||||||||||||||||||||
Illinois | 1,134 | 1.5 | 0 | 0 | 1,134 | 1.5 | |||||||||||||||||||||||||||||||
Ohio | 1,032 | 1.4 | 0 | 0 | 1,032 | 1.4 | |||||||||||||||||||||||||||||||
Other | 13,418 | 17.8 | 17 | 0.1 | 13,435 | 17.9 | |||||||||||||||||||||||||||||||
Total auto | 27,106 | 36 | 17 | 0.1 | 27,123 | 36.1 | |||||||||||||||||||||||||||||||
Home loan: | |||||||||||||||||||||||||||||||||||||
California | 1,168 | 1.6 | 9,098 | 12.1 | 10,266 | 13.7 | |||||||||||||||||||||||||||||||
New York | 1,678 | 2.2 | 1,598 | 2.1 | 3,276 | 4.3 | |||||||||||||||||||||||||||||||
Illinois | 102 | 0.1 | 2,875 | 3.8 | 2,977 | 3.9 | |||||||||||||||||||||||||||||||
Maryland | 403 | 0.5 | 1,878 | 2.5 | 2,281 | 3 | |||||||||||||||||||||||||||||||
New Jersey | 402 | 0.5 | 1,717 | 2.3 | 2,119 | 2.8 | |||||||||||||||||||||||||||||||
Virginia | 342 | 0.5 | 1,748 | 2.3 | 2,090 | 2.8 | |||||||||||||||||||||||||||||||
Florida | 183 | 0.3 | 1,863 | 2.5 | 2,046 | 2.8 | |||||||||||||||||||||||||||||||
Other | 3,419 | 4.6 | 15,626 | 20.8 | 19,045 | 25.4 | |||||||||||||||||||||||||||||||
Total home loan | 7,697 | 10.3 | 36,403 | 48.4 | 44,100 | 58.7 | |||||||||||||||||||||||||||||||
Retail banking: | |||||||||||||||||||||||||||||||||||||
Louisiana | 1,447 | 1.9 | 0 | 0 | 1,447 | 1.9 | |||||||||||||||||||||||||||||||
New York | 864 | 1.2 | 0 | 0 | 864 | 1.2 | |||||||||||||||||||||||||||||||
Texas | 844 | 1.1 | 0 | 0 | 844 | 1.1 | |||||||||||||||||||||||||||||||
New Jersey | 312 | 0.4 | 0 | 0 | 312 | 0.4 | |||||||||||||||||||||||||||||||
Maryland | 96 | 0.1 | 20 | 0.1 | 116 | 0.2 | |||||||||||||||||||||||||||||||
Virginia | 78 | 0.1 | 9 | 0 | 87 | 0.1 | |||||||||||||||||||||||||||||||
California | 47 | 0.1 | 0 | 0 | 47 | 0.1 | |||||||||||||||||||||||||||||||
Other | 182 | 0.2 | 5 | 0 | 187 | 0.2 | |||||||||||||||||||||||||||||||
Total retail banking | 3,870 | 5.1 | 34 | 0.1 | 3,904 | 5.2 | |||||||||||||||||||||||||||||||
Total consumer banking | $ | 38,673 | 51.4 | % | $ | 36,454 | 48.6 | % | $ | 75,127 | 100 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Auto | Home Loan | Retail Banking | Total Consumer | ||||||||||||||||||||||||||||||||||
Banking | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | |||||||||||||||||||||||||||||
Rate(2) | Rate(2) | Rate(2) | Rate(2) | ||||||||||||||||||||||||||||||||||
Credit performance:(2) | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies | $ | 2,049 | 7.56 | % | $ | 380 | 4.94 | % | $ | 81 | 2.09 | % | $ | 2,510 | 6.49 | % | |||||||||||||||||||||
90+ day delinquencies | 149 | 0.55 | 288 | 3.74 | 45 | 1.16 | 482 | 1.25 | |||||||||||||||||||||||||||||
Nonperforming loans | 149 | 0.55 | 422 | 5.48 | 71 | 1.83 | 642 | 1.66 | |||||||||||||||||||||||||||||
-1 | Percentages by geographic region are calculated based on the total held-for-investment consumer banking loans as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
-2 | Credit performance statistics exclude Acquired Loans, which were recorded at fair value at acquisition. | ||||||||||||||||||||||||||||||||||||
Table 4.6: Consumer Banking: Net Charge-offs | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Rate(1) | Amount | Rate(1) | |||||||||||||||||||||||||||||||||
Net charge-offs: | |||||||||||||||||||||||||||||||||||||
Auto | $ | 546 | 1.85 | % | $ | 414 | 1.66 | % | |||||||||||||||||||||||||||||
Home Loan | 16 | 0.04 | 52 | 0.12 | |||||||||||||||||||||||||||||||||
Retail Banking | 54 | 1.46 | 65 | 1.57 | |||||||||||||||||||||||||||||||||
Total Consumer Banking | $ | 616 | 0.85 | % | $ | 531 | 0.74 | % | |||||||||||||||||||||||||||||
-1 | Calculated for each loan category by dividing net charge-offs for the period by average loans held for investment during the period. | ||||||||||||||||||||||||||||||||||||
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 continually monitor a variety of mortgage loan characteristics that may affect the default experience on our overall home loan portfolio, such as vintage, geographic concentrations, lien priority and product type. Certain loan concentrations have experienced higher delinquency rates as a result of the significant decline in home prices since the home price peak in 2006 and the 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 and loans. The following table presents the distribution of our home loan portfolio as of December 31, 2013 and 2012, based on selected key risk characteristics. | |||||||||||||||||||||||||||||||||||||
Table 4.7: Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total Home Loans | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | % of | Amount | % of | Amount | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Origination year: | |||||||||||||||||||||||||||||||||||||
< =006 | $ | 3,389 | 9.6 | % | $ | 6,490 | 18.4 | % | $ | 9,879 | 28 | % | |||||||||||||||||||||||||
2007 | 363 | 1 | 5,276 | 14.9 | 5,639 | 15.9 | |||||||||||||||||||||||||||||||
2008 | 212 | 0.6 | 4,084 | 11.6 | 4,296 | 12.2 | |||||||||||||||||||||||||||||||
2009 | 129 | 0.4 | 2,531 | 7.2 | 2,660 | 7.6 | |||||||||||||||||||||||||||||||
2010 | 142 | 0.4 | 4,251 | 12.1 | 4,393 | 12.5 | |||||||||||||||||||||||||||||||
2011 | 259 | 0.7 | 4,655 | 13.2 | 4,914 | 13.9 | |||||||||||||||||||||||||||||||
2012 | 1,918 | 5.4 | 805 | 2.3 | 2,723 | 7.7 | |||||||||||||||||||||||||||||||
2013(3) | 686 | 2 | 92 | 0.2 | 778 | 2.2 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
California | $ | 1,010 | 2.9 | % | $ | 7,153 | 20.3 | % | $ | 8,163 | 23.2 | % | |||||||||||||||||||||||||
New York | 1,502 | 4.2 | 1,265 | 3.6 | 2,767 | 7.8 | |||||||||||||||||||||||||||||||
Illinois | 88 | 0.2 | 2,183 | 6.2 | 2,271 | 6.4 | |||||||||||||||||||||||||||||||
Maryland | 418 | 1.2 | 1,495 | 4.2 | 1,913 | 5.4 | |||||||||||||||||||||||||||||||
New Jersey | 362 | 1 | 1,409 | 4 | 1,771 | 5 | |||||||||||||||||||||||||||||||
Virginia | 351 | 1 | 1,367 | 3.9 | 1,718 | 4.9 | |||||||||||||||||||||||||||||||
Florida | 177 | 0.5 | 1,477 | 4.2 | 1,654 | 4.7 | |||||||||||||||||||||||||||||||
Arizona | 91 | 0.3 | 1,439 | 4.1 | 1,530 | 4.4 | |||||||||||||||||||||||||||||||
Washington | 100 | 0.3 | 1,302 | 3.7 | 1,402 | 4 | |||||||||||||||||||||||||||||||
Louisiana | 1,282 | 3.6 | 47 | 0.1 | 1,329 | 3.7 | |||||||||||||||||||||||||||||||
Other | 1,717 | 4.9 | 9,047 | 25.6 | 10,764 | 30.5 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
Lien type: | |||||||||||||||||||||||||||||||||||||
1st lien | $ | 6,020 | 17.1 | % | $ | 27,768 | 78.7 | % | $ | 33,788 | 95.8 | % | |||||||||||||||||||||||||
2nd lien | 1,078 | 3 | 416 | 1.2 | 1,494 | 4.2 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
Interest rate type: | |||||||||||||||||||||||||||||||||||||
Fixed rate | $ | 2,478 | 7 | % | $ | 3,434 | 9.7 | % | $ | 5,912 | 16.7 | % | |||||||||||||||||||||||||
Adjustable rate | 4,620 | 13.1 | 24,750 | 70.2 | 29,370 | 83.3 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total Home Loans | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | % of | Amount | % of | Amount | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Origination year: | |||||||||||||||||||||||||||||||||||||
< =006 | $ | 4,104 | 9.3 | % | $ | 7,723 | 17.5 | % | $ | 11,827 | 26.8 | % | |||||||||||||||||||||||||
2007 | 446 | 1 | 6,189 | 14 | 6,635 | 15 | |||||||||||||||||||||||||||||||
2008 | 257 | 0.6 | 5,210 | 11.8 | 5,467 | 12.4 | |||||||||||||||||||||||||||||||
2009 | 167 | 0.4 | 3,438 | 7.8 | 3,605 | 8.2 | |||||||||||||||||||||||||||||||
2010 | 188 | 0.4 | 6,024 | 13.7 | 6,212 | 14.1 | |||||||||||||||||||||||||||||||
2011 | 324 | 0.7 | 6,705 | 15.2 | 7,029 | 15.9 | |||||||||||||||||||||||||||||||
2012 | 2,211 | 5.1 | 1,114 | 2.5 | 3,325 | 7.6 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
California | $ | 1,168 | 2.7 | % | $ | 9,098 | 20.6 | % | $ | 10,266 | 23.3 | % | |||||||||||||||||||||||||
New York | 1,678 | 3.8 | 1,598 | 3.6 | 3,276 | 7.4 | |||||||||||||||||||||||||||||||
Illinois | 102 | 0.2 | 2,875 | 6.5 | 2,977 | 6.7 | |||||||||||||||||||||||||||||||
Maryland | 403 | 0.9 | 1,878 | 4.3 | 2,281 | 5.2 | |||||||||||||||||||||||||||||||
New Jersey | 402 | 0.9 | 1,717 | 3.9 | 2,119 | 4.8 | |||||||||||||||||||||||||||||||
Virginia | 342 | 0.8 | 1,748 | 4 | 2,090 | 4.8 | |||||||||||||||||||||||||||||||
Florida | 183 | 0.4 | 1,863 | 4.2 | 2,046 | 4.6 | |||||||||||||||||||||||||||||||
Arizona | 95 | 0.2 | 1,828 | 4.1 | 1,923 | 4.3 | |||||||||||||||||||||||||||||||
Washington | 113 | 0.3 | 1,766 | 4 | 1,879 | 4.3 | |||||||||||||||||||||||||||||||
Colorado | 126 | 0.3 | 1,594 | 3.6 | 1,720 | 3.9 | |||||||||||||||||||||||||||||||
Other | 3,085 | 7 | 10,438 | 23.7 | 13,523 | 30.7 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
Lien type: | |||||||||||||||||||||||||||||||||||||
1st lien | $ | 6,502 | 14.8 | % | $ | 35,905 | 81.4 | % | $ | 42,407 | 96.2 | % | |||||||||||||||||||||||||
2nd lien | 1,195 | 2.7 | 498 | 1.1 | 1,693 | 3.8 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
Interest rate type: | |||||||||||||||||||||||||||||||||||||
Fixed rate | $ | 2,534 | 5.8 | % | $ | 4,037 | 9.1 | % | $ | 6,571 | 14.9 | % | |||||||||||||||||||||||||
Adjustable rate | 5,163 | 11.7 | 32,366 | 73.4 | 37,529 | 85.1 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
-1 | Percentages within each risk category are calculated based on total home loans held for investment. | ||||||||||||||||||||||||||||||||||||
-2 | Represents the ten states in which we have the highest concentration of home loans. | ||||||||||||||||||||||||||||||||||||
-3 | The Acquired Loans origination balance in 2013 is related to refinancing of previously acquired home loans. | ||||||||||||||||||||||||||||||||||||
Commercial Banking | |||||||||||||||||||||||||||||||||||||
We evaluate the credit risk of commercial loans individually and use a risk-rating system to determine the credit quality of our commercial loans. We assign internal risk ratings to loans based on relevant information about the ability of borrowers to service their debt. In determining the risk rating of a particular loan, among the factors considered are the borrower’s current financial condition, historical credit performance, projected future credit performance, prospects for support from financially responsible guarantors, the estimated realizable value of any collateral and current economic trends. The ratings 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 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 review of the credit exposures and evaluation and determination of the allowance for commercial loans. Loans of $1 million or more designated as criticized performing and criticized nonperforming are reviewed quarterly by management for further deterioration or improvement to determine if they are appropriately classified/graded and whether impairment exists. Noncriticized loans greater than $1 million are specifically reviewed, at least annually, to determine the appropriate loan grading. In addition, during the renewal process of any loan or if a loan becomes past due, we evaluate the risk rating. | |||||||||||||||||||||||||||||||||||||
The following table presents the geographic distribution and internal risk ratings of our commercial loan portfolio as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.8: Commercial Banking: Risk Profile by Geographic Region and Internal Risk Rating | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Commercial | % of | Commercial | % of | Small-ticket | % of | Total | % of | |||||||||||||||||||||||||||||
and | Total(1) | and | Total(1) | Commercial | Total(1) | Commercial | Total(1) | ||||||||||||||||||||||||||||||
Multifamily | Industrial | Real Estate | |||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Northeast | $ | 14,543 | 70.1 | % | $ | 5,800 | 24.9 | % | $ | 582 | 61.3 | % | $ | 20,925 | 46.4 | % | |||||||||||||||||||||
Mid-Atlantic | 2,130 | 10.3 | 1,432 | 6.1 | 33 | 3.4 | 3,595 | 8 | |||||||||||||||||||||||||||||
South | 2,539 | 12.2 | 10,940 | 46.9 | 58 | 6 | 13,537 | 30.1 | |||||||||||||||||||||||||||||
Other | 1,454 | 7 | 4,959 | 21.3 | 279 | 29.3 | 6,692 | 14.9 | |||||||||||||||||||||||||||||
Loans | 20,666 | 99.6 | 23,131 | 99.2 | 952 | 100 | 44,749 | 99.4 | |||||||||||||||||||||||||||||
Acquired Loans | 84 | 0.4 | 178 | 0.8 | 0 | 0 | 262 | 0.6 | |||||||||||||||||||||||||||||
Total | $ | 20,750 | 100 | % | $ | 23,309 | 100 | % | $ | 952 | 100 | % | $ | 45,011 | 100 | % | |||||||||||||||||||||
Internal risk rating:(3) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 20,204 | 97.4 | % | $ | 22,448 | 96.3 | % | $ | 941 | 98.9 | % | $ | 43,593 | 96.9 | % | |||||||||||||||||||||
Criticized performing | 409 | 2 | 590 | 2.5 | 8 | 0.8 | 1,007 | 2.2 | |||||||||||||||||||||||||||||
Criticized nonperforming | 53 | 0.2 | 93 | 0.4 | 3 | 0.3 | 149 | 0.3 | |||||||||||||||||||||||||||||
Loans | 20,666 | 99.6 | 23,131 | 99.2 | 952 | 100 | 44,749 | 99.4 | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | 72 | 0.3 | 158 | 0.7 | 0 | 0 | 230 | 0.5 | |||||||||||||||||||||||||||||
Criticized performing | 12 | 0.1 | 20 | 0.1 | 0 | 0 | 32 | 0.1 | |||||||||||||||||||||||||||||
Total Acquired Loans | 84 | 0.4 | 178 | 0.8 | 0 | 0 | 262 | 0.6 | |||||||||||||||||||||||||||||
Total | $ | 20,750 | 100 | % | $ | 23,309 | 100 | % | $ | 952 | 100 | % | $ | 45,011 | 100 | % | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Commercial | % of | Commercial | % of | Small-ticket | % of | Total | % of | |||||||||||||||||||||||||||||
and | Total(1) | and | Total(1) | Commercial | Total(1) | Commercial | Total(1) | ||||||||||||||||||||||||||||||
Multifamily | Industrial | Real Estate | |||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Northeast | $ | 13,299 | 75 | % | $ | 5,460 | 27.4 | % | $ | 723 | 60.5 | % | $ | 19,482 | 50.2 | % | |||||||||||||||||||||
Mid-Atlantic | 1,398 | 7.9 | 1,149 | 5.8 | 47 | 3.9 | 2,594 | 6.7 | |||||||||||||||||||||||||||||
South | 2,055 | 11.6 | 9,182 | 46.2 | 72 | 6 | 11,309 | 29.1 | |||||||||||||||||||||||||||||
Other | 853 | 4.8 | 3,869 | 19.4 | 354 | 29.6 | 5,076 | 13.1 | |||||||||||||||||||||||||||||
Loans | 17,605 | 99.3 | 19,660 | 98.8 | 1,196 | 100 | 38,461 | 99.1 | |||||||||||||||||||||||||||||
Acquired Loans | 127 | 0.7 | 232 | 1.2 | 0 | 0 | 359 | 0.9 | |||||||||||||||||||||||||||||
Total | $ | 17,732 | 100 | % | $ | 19,892 | 100 | % | $ | 1,196 | 100 | % | $ | 38,820 | 100 | % | |||||||||||||||||||||
Internal risk rating:(3) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 16,614 | 93.7 | % | $ | 19,073 | 95.9 | % | $ | 1,152 | 96.3 | % | $ | 36,839 | 94.9 | % | |||||||||||||||||||||
Criticized performing | 853 | 4.8 | 454 | 2.3 | 33 | 2.8 | 1,340 | 3.5 | |||||||||||||||||||||||||||||
Criticized nonperforming | 138 | 0.8 | 133 | 0.6 | 11 | 0.9 | 282 | 0.7 | |||||||||||||||||||||||||||||
Loans | 17,605 | 99.3 | 19,660 | 98.8 | 1,196 | 100 | 38,461 | 99.1 | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | 77 | 0.4 | 228 | 1.2 | 0 | 0 | 305 | 0.8 | |||||||||||||||||||||||||||||
Criticized performing | 50 | 0.3 | 4 | 0 | 0 | 0 | 54 | 0.1 | |||||||||||||||||||||||||||||
Total Acquired Loans | 127 | 0.7 | 232 | 1.2 | 0 | 0 | 359 | 0.9 | |||||||||||||||||||||||||||||
Total | $ | 17,732 | 100 | % | $ | 19,892 | 100 | % | $ | 1,196 | 100 | % | $ | 38,820 | 100 | % | |||||||||||||||||||||
-1 | Percentages calculated based on total held-for-investment commercial loans in each respective loan category as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
-2 | Northeast consists of CT, ME, MA, NH, NJ, NY, PA and VT. Mid-Atlantic consists of DE, DC, MD, VA and WV. South consists of AL, AR, FL, GA, KY, LA, MS, MO, NC, SC, TN and TX. | ||||||||||||||||||||||||||||||||||||
-3 | Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by banking regulatory authorities. | ||||||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||||||
The following table presents information about our impaired loans, excluding Acquired Loans, which are reported separately and discussed below as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||
Table 4.9: Impaired Loans(1) | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | With an | Without | Total | Related | Net | Unpaid | Average | Interest | |||||||||||||||||||||||||||||
Allowance | an | Recorded | Allowance | Recorded | Principal | Recorded | Income | ||||||||||||||||||||||||||||||
Allowance | Investment | Investment | Balance | Investment | Recognized | ||||||||||||||||||||||||||||||||
Credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans | $ | 609 | $ | 0 | $ | 609 | $ | 154 | $ | 455 | $ | 593 | $ | 647 | $ | 66 | |||||||||||||||||||||
International credit card | 171 | 0 | 171 | 107 | 64 | 164 | 170 | 11 | |||||||||||||||||||||||||||||
Total credit card and installment loans(2) | 780 | 0 | 780 | 261 | 519 | 757 | 817 | 77 | |||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto(3) | 169 | 186 | 355 | 16 | 340 | 590 | 335 | 62 | |||||||||||||||||||||||||||||
Home loan. | 244 | 150 | 394 | 18 | 375 | 561 | 418 | 7 | |||||||||||||||||||||||||||||
Retail banking | 46 | 40 | 86 | 10 | 76 | 105 | 92 | 1 | |||||||||||||||||||||||||||||
Total consumer banking | 459 | 376 | 835 | 44 | 791 | 1,256 | 845 | 70 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 89 | 49 | 138 | 13 | 125 | 162 | 217 | 1 | |||||||||||||||||||||||||||||
Commercial and industrial | 94 | 91 | 185 | 12 | 173 | 220 | 219 | 1 | |||||||||||||||||||||||||||||
Total commercial lending | 183 | 140 | 323 | 25 | 298 | 382 | 436 | 2 | |||||||||||||||||||||||||||||
Small-ticket commercial real estate | 2 | 4 | 6 | 0 | 6 | 7 | 16 | 0 | |||||||||||||||||||||||||||||
Total commercial banking | 185 | 144 | 329 | 25 | 304 | 389 | 452 | 2 | |||||||||||||||||||||||||||||
Total | $ | 1,424 | $ | 520 | $ | 1,944 | $ | 330 | $ | 1,614 | $ | 2,402 | $ | 2,114 | $ | 149 | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | With an | Without | Total | Related | Net | Unpaid | Average | Interest | |||||||||||||||||||||||||||||
Allowance | an | Recorded | Allowance | Recorded | Principal | Recorded | Income | ||||||||||||||||||||||||||||||
Allowance | Investment | Investment | Balance | Investment | Recognized | ||||||||||||||||||||||||||||||||
Credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans | $ | 701 | $ | 0 | $ | 701 | $ | 230 | $ | 471 | $ | 678 | $ | 687 | $ | 70 | |||||||||||||||||||||
International credit card | 172 | 0 | 172 | 101 | 71 | 164 | 192 | 11 | |||||||||||||||||||||||||||||
Total credit card and installment loans(2) | 873 | 0 | 873 | 331 | 542 | 842 | 879 | 81 | |||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto(3) | 169 | 159 | 328 | 20 | 308 | 606 | 130 | 31 | |||||||||||||||||||||||||||||
Home loan | 145 | 0 | 145 | 13 | 132 | 167 | 120 | 4 | |||||||||||||||||||||||||||||
Retail banking | 61 | 35 | 96 | 7 | 89 | 118 | 88 | 3 | |||||||||||||||||||||||||||||
Total consumer banking | 375 | 194 | 569 | 40 | 529 | 891 | 338 | 38 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 168 | 112 | 280 | 32 | 248 | 315 | 353 | 8 | |||||||||||||||||||||||||||||
Commercial and industrial | 152 | 92 | 244 | 22 | 222 | 277 | 227 | 6 | |||||||||||||||||||||||||||||
Total commercial lending | 320 | 204 | 524 | 54 | 470 | 592 | 580 | 14 | |||||||||||||||||||||||||||||
Small-ticket commercial real estate | 3 | 11 | 14 | 1 | 13 | 21 | 23 | 0 | |||||||||||||||||||||||||||||
Total commercial banking | 323 | 215 | 538 | 55 | 483 | 613 | 603 | 14 | |||||||||||||||||||||||||||||
Total | $ | 1,571 | $ | 409 | $ | 1,980 | $ | 426 | $ | 1,554 | $ | 2,346 | $ | 1,820 | $ | 133 | |||||||||||||||||||||
-1 | Impaired Loans above include TDRs, all Commercial NPL’s, and Home Loans NPL’s with a specific impairment starting in 2013. | ||||||||||||||||||||||||||||||||||||
-2 | Credit card and installment loans include finance charges and fees. | ||||||||||||||||||||||||||||||||||||
-3 | Although auto loans from Loan Recovery Inventory (“LRI”) are not included in our loans held for investment, they are included as impaired loans above since they are reported as TDRs. | ||||||||||||||||||||||||||||||||||||
Troubled debt restructuring loans accounted for $1.7 billion and $1.8 billion of impaired loans as of December 31, 2013 and 2012, respectively. Consumer TDR loans classified as performing totaled $1.1 billion and $1.2 billion as of December 31, 2013 and 2012, respectively. Commercial TDR loans classified as performing totaled $180 million and $253 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
As part of our loan modifications 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 types, amounts and financial effects of loans modified and accounted for as troubled debt restructurings during the period: | |||||||||||||||||||||||||||||||||||||
Table 4.10: Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Total | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans | Reduced Interest Rate | Term Extension | Balance Reduction | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Modified(1) | % of | Average | % of TDR | Average | % of | Gross | ||||||||||||||||||||||||||||||
TDR | Rate | Activity(4)(8) | Term | TDR | Balance | ||||||||||||||||||||||||||||||||
Activity(2)(8) | Reduction(3) | Extension | Activity(6)(8) | Reduction(7) | |||||||||||||||||||||||||||||||||
(Months)(5) | |||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 311 | 100 | % | 11.62 | % | 0 | % | 0 | 0 | % | $ | 0 | ||||||||||||||||||||||||
International credit card | 187 | 100 | 24.95 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total credit card | 498 | 100 | 16.64 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 274 | 31 | 1.37 | 55 | 9 | 45 | 109 | ||||||||||||||||||||||||||||||
Home loan | 98 | 22 | 2.89 | 20 | 127 | 21 | 4 | ||||||||||||||||||||||||||||||
Retail banking | 30 | 6 | 3.68 | 58 | 7 | 0 | 0 | ||||||||||||||||||||||||||||||
Total consumer banking | 402 | 27 | 1.72 | 46 | 21 | 36 | 113 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 53 | 23 | 1.74 | 77 | 16 | 0 | 0 | ||||||||||||||||||||||||||||||
Commercial and industrial | 47 | 0 | 0 | 79 | 6 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial lending | 100 | 12 | 1.74 | 78 | 11 | 0 | 0 | ||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 8 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial banking | 108 | 11 | 1.74 | 72 | 11 | 0 | 0 | ||||||||||||||||||||||||||||||
Total | $ | 1,008 | 61 | % | 13.73 | % | 26 | % | 18 | 14 | % | $ | 113 | ||||||||||||||||||||||||
Total | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Loans | Reduced Interest Rate | Term Extension | Balance Reduction | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Modified(1) | % of | Average | % of TDR | Average | % of | Gross | ||||||||||||||||||||||||||||||
TDR | Rate | Activity(4)(8) | Term | TDR | Balance | ||||||||||||||||||||||||||||||||
Activity(2)(8) | Reduction(3) | Extension | Activity(6)(8) | Reduction(7) | |||||||||||||||||||||||||||||||||
(Months)(5) | |||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 353 | 100 | % | 11.45 | % | 0 | % | 0 | 0 | % | $ | 0 | ||||||||||||||||||||||||
International credit card | 218 | 100 | 23.71 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total credit card | 571 | 100 | 15.64 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 338 | 51 | 6.71 | 69 | 8 | 50 | 219 | ||||||||||||||||||||||||||||||
Home loan | 62 | 65 | 2.5 | 75 | 128 | 45 | 10 | ||||||||||||||||||||||||||||||
Retail banking | 28 | 3 | 2.67 | 96 | 9 | 0 | 0 | ||||||||||||||||||||||||||||||
Total consumer banking | 428 | 50 | 5.9 | 72 | 26 | 46 | 229 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 62 | 38 | 2.18 | 90 | 16 | 0 | 0 | ||||||||||||||||||||||||||||||
Commercial and industrial | 131 | 7 | 3.9 | 87 | 13 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial lending | 193 | 17 | 2.67 | 88 | 14 | 0 | 0 | ||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial banking | 193 | 17 | 2.67 | 88 | 14 | 0 | 0 | ||||||||||||||||||||||||||||||
Total | $ | 1,192 | 69 | % | 12.56 | % | 40 | % | 22 | 16 | % | $ | 229 | ||||||||||||||||||||||||
-1 | Represents total loans modified and accounted for as a TDR during the period. Paydowns, charge-offs and any other changes in the loan carrying value subsequent to the loan entering TDR status are not reflected. | ||||||||||||||||||||||||||||||||||||
-2 | Percentage of loans modified and accounted for as a TDR during the period that were granted a reduced interest rate. | ||||||||||||||||||||||||||||||||||||
-3 | Weighted average interest rate reduction for those loans that received an interest rate concession. | ||||||||||||||||||||||||||||||||||||
-4 | Percentage of loans modified and accounted for as a TDR during the period that were granted a maturity date extension. | ||||||||||||||||||||||||||||||||||||
-5 | Weighted average change in maturity date for those loans that received a maturity date extension. | ||||||||||||||||||||||||||||||||||||
-6 | Percentage of loans modified and accounted for as a TDR during the period that were granted forgiveness or forbearance of a portion of their balance. | ||||||||||||||||||||||||||||||||||||
-7 | Total amount represents the gross balance forgiven. For loans modified in bankruptcy, the gross balance reduction represents collateral value write downs associated with the discharge of the borrower’s obligations. | ||||||||||||||||||||||||||||||||||||
-8 | Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types. | ||||||||||||||||||||||||||||||||||||
TDR—Subsequent Payment Defaults of Completed TDR Modifications | |||||||||||||||||||||||||||||||||||||
The following table presents the type, number and amount of loans accounted for as TDRs that experienced a payment default during the period and had completed a modification event in the twelve months prior to the payment default. A payment default occurs if the loan is either 90 days or more delinquent or the loan has been charged-off as of the end of the period presented. | |||||||||||||||||||||||||||||||||||||
Table 4.11: TDR—Subsequent Payment Defaults | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Number of | Total | Number of | Total | |||||||||||||||||||||||||||||||||
Contracts | Loans | Contracts | Loans | ||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | 41,859 | $ | 72 | 43,103 | $ | 85 | |||||||||||||||||||||||||||||||
International credit card(1) | 47,688 | 138 | 48,663 | 164 | |||||||||||||||||||||||||||||||||
Total credit card | 89,547 | 210 | 91,766 | 249 | |||||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto. | 9,525 | 68 | 4,364 | 39 | |||||||||||||||||||||||||||||||||
Home loan | 33 | 3 | 99 | 7 | |||||||||||||||||||||||||||||||||
Retail banking | 126 | 7 | 107 | 11 | |||||||||||||||||||||||||||||||||
Total consumer banking | 9,684 | 78 | 4,570 | 57 | |||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 14 | 23 | 8 | 10 | |||||||||||||||||||||||||||||||||
Commercial and industrial | 24 | 22 | 23 | 18 | |||||||||||||||||||||||||||||||||
Total commercial lending | 38 | 45 | 31 | 28 | |||||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 4 | 0 | 3 | 2 | |||||||||||||||||||||||||||||||||
Total commercial banking | 42 | 45 | 34 | 30 | |||||||||||||||||||||||||||||||||
Total | 99,273 | $ | 333 | 96,370 | $ | 336 | |||||||||||||||||||||||||||||||
-1 | The regulatory regime in the U.K. requires U.K. credit card businesses to accept payment plan proposals even when the proposed payments are less than the contractual minimum amount. As a result, loans entering long-term TDR payment programs in the U.K. typically continue to age and ultimately charge-off even when fully in compliance with the TDR program terms. | ||||||||||||||||||||||||||||||||||||
Acquired Loans Accounted for Based on Expected Cash Flows | |||||||||||||||||||||||||||||||||||||
Outstanding Balance and Carrying Value of Acquired Loans | |||||||||||||||||||||||||||||||||||||
The table below presents the outstanding contractual balance and the carrying value of loans from the CCB, ING Direct and 2012 U.S. card acquisitions accounted for based on expected cash flows as of December 31, 2013 and 2012. The table displays separately loans considered credit-impaired at acquisition and loans not considered credit-impaired at acquisition. | |||||||||||||||||||||||||||||||||||||
Table 4.12: Acquired Loans Accounted for Based on Expected Cash Flows | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Total | Impaired | Non- | Total | Impaired | Non- | |||||||||||||||||||||||||||||||
Loans | Impaired | Loans | Impaired | ||||||||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||||||||||
Contractual balance | $ | 30,565 | $ | 5,016 | $ | 25,549 | $ | 39,321 | $ | 6,195 | $ | 33,126 | |||||||||||||||||||||||||
Carrying value(1) | 28,580 | 3,285 | 25,295 | 37,109 | 4,069 | 33,040 | |||||||||||||||||||||||||||||||
-1 | Includes $38 million and $57 million of allowance for these loans as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||||||
Changes in Accretable Yield | |||||||||||||||||||||||||||||||||||||
The following table presents changes in the accretable yield on loans related to the CCB, ING Direct, and 2012 U.S. card acquisitions: | |||||||||||||||||||||||||||||||||||||
Table 4.13: Changes in Accretable Yield on Acquired Loans | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Total | Impaired | Non- | ||||||||||||||||||||||||||||||||||
Loans | Loans | Impaired | |||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
Accretable yield as of December 31, 2011 | $ | 1,752 | $ | 1,566 | $ | 186 | |||||||||||||||||||||||||||||||
Acquired Loans accretable yield(1) | 5,616 | 306 | 5,310 | ||||||||||||||||||||||||||||||||||
Accretion recognized in earnings | (1,316 | ) | (390 | ) | (926 | ) | |||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference for loans with improving cash flows(2) (3) | 860 | 448 | 412 | ||||||||||||||||||||||||||||||||||
Reductions in accretable yield for non-credit related changes in expected cash flows(4) | (704 | ) | (31 | ) | (673 | ) | |||||||||||||||||||||||||||||||
Accretable yield as of December 31, 2012 | $ | 6,208 | $ | 1,899 | $ | 4,309 | |||||||||||||||||||||||||||||||
Accretion recognized in earnings | (1,182 | ) | (427 | ) | (755 | ) | |||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference for loans with improving cash flows(2) | 1,005 | 629 | 376 | ||||||||||||||||||||||||||||||||||
Increases/(Reductions) in accretable yield for non-credit related changes in expected cash flows(4) | 389 | 13 | 376 | ||||||||||||||||||||||||||||||||||
Accretable yield as of December 31, 2013 | $ | 6,420 | $ | 2,114 | $ | 4,306 | |||||||||||||||||||||||||||||||
-1 | Includes revised acquisition date accretable yield for ING Direct Acquired Loans. | ||||||||||||||||||||||||||||||||||||
-2 | Represents increases in accretable yields for those pools with increases that are primarily the result of improved credit performance. | ||||||||||||||||||||||||||||||||||||
-3 | Includes the implementation of the 2012 OCC update to the Bank Accounting Advisory Series, which requires write-down of performing consumer loans restructured in bankruptcy to collateral value. Includes reductions of $28 million and $44 million for purchased credit-impaired loans and non-impaired loans, respectively. | ||||||||||||||||||||||||||||||||||||
-4 | Represents changes in accretable yields for those pools that are driven primarily by changes in actual and estimated prepayments. | ||||||||||||||||||||||||||||||||||||
We reduced the allowance through our provision for loan losses related to these loans by $19 million for the year ended December 31, 2013 and increased the allowance by $31 million for the year ended December 31, 2012. The allowance on these Acquired Loans totaled $38 million and $57 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
Unfunded Lending Commitments | |||||||||||||||||||||||||||||||||||||
We manage the potential risk in credit commitments by limiting the total amount of arrangements, both by individual customer and in total, by monitoring the size and maturity structure of these portfolios and by applying the same credit standards for all of our credit activities. Unused credit card lines available to our customers totaled $276.7 billion and $298.9 billion as of December 31, 2013 and 2012, respectively. While these amounts represented the total available 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. | |||||||||||||||||||||||||||||||||||||
In addition to available unused credit card lines, we enter into commitments to extend credit that are legally binding conditional agreements having fixed expirations or termination dates and specified interest rates and purposes. These commitments 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. The outstanding unfunded commitments to extend credit, other than credit card lines, were approximately $20.9 billion and $17.5 billion as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
Finance Charge and Fee Reserves | |||||||||||||||||||||||||||||||||||||
We continue to accrue finance charges and fees on credit card loans until the account is charged-off. Our methodology for estimating the uncollectible portion of billed finance charges and fees is consistent with the methodology we use to estimate the allowance for incurred principal losses on our credit card loan receivables. Revenue was reduced by $796 million, $937 million and $371 million in 2013, 2012 and 2011, respectively, for the estimated uncollectible portion of billed finance charges and fees. The finance charge and fee reserve totaled $190 million as of December 31, 2013, compared with $307 million as of December 31, 2012. | |||||||||||||||||||||||||||||||||||||
Loans Held for Sale | |||||||||||||||||||||||||||||||||||||
We also originated $2.1 billion, $1.6 billion and $954 million of conforming residential mortgage loans and commercial multifamily real estate loans in 2013, 2012 and 2011, respectively. We retained servicing on 92% of these loans sold in both 2013 and 2012 , and we retained servicing on 91% of these loans sold in 2011. |
Allowance_for_Loan_and_Lease_L
Allowance for Loan and Lease Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | ' | ||||||||||||||||||||||||||||||||||||||||
NOTE 5—ALLOWANCE FOR LOAN AND LEASE LOSSES | |||||||||||||||||||||||||||||||||||||||||
We maintain an allowance for loan and lease losses that represents management’s best estimate of incurred loan and lease losses inherent in our 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 unfunded lending commitments is included in the provision for credit losses on 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” for further discussion on the methodologies and policies for determining our allowance for loan and lease losses for each of our loan portfolio segments. | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses Activity | |||||||||||||||||||||||||||||||||||||||||
The allowance for loan and lease losses is increased through the provision for credit losses and reduced by net charge-offs. The provision for credit losses, which is charged to earnings, reflects credit losses we believe have been incurred and will eventually be reflected over time in our charge-offs. Charge-offs of uncollectible amounts are deducted from the allowance and subsequent recoveries are included. The table below summarizes changes in the allowance for loan and lease losses, by portfolio segment, for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||
Table 5.1: Allowance for Loan and Lease Losses | |||||||||||||||||||||||||||||||||||||||||
Consumer | Unfunded | Combined | |||||||||||||||||||||||||||||||||||||||
Lending | Allowance & | ||||||||||||||||||||||||||||||||||||||||
Commitments | Unfunded | ||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Credit | Auto | Home | Retail | Total | Commercial | Other(1) | Total | Reserve | Reserve | |||||||||||||||||||||||||||||||
Card | Loan | Banking | Consumer | Allowance | |||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2011 | $ | 2,847 | $ | 391 | $ | 98 | $ | 163 | $ | 652 | $ | 715 | $ | 36 | $ | 4,250 | $ | 66 | $ | 4,316 | |||||||||||||||||||||
Provision for credit losses | 4,061 | 509 | 67 | 14 | 590 | (240 | ) | 35 | 4,446 | (31 | ) | 4,415 | |||||||||||||||||||||||||||||
Charge-offs | (4,159 | ) | (631 | ) | (77 | ) | (89 | ) | (797 | ) | (94 | ) | (43 | ) | (5,093 | ) | 0 | (5,093 | ) | ||||||||||||||||||||||
Recoveries | 1,215 | 217 | 25 | 24 | 266 | 52 | 5 | 1,538 | 0 | 1,538 | |||||||||||||||||||||||||||||||
Net charge-offs | (2,944 | ) | (414 | ) | (52 | ) | (65 | ) | (531 | ) | (42 | ) | (38 | ) | (3,555 | ) | 0 | (3,555 | ) | ||||||||||||||||||||||
Other changes(2) | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 15 | |||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 3,979 | $ | 486 | $ | 113 | $ | 112 | $ | 711 | $ | 433 | $ | 33 | $ | 5,156 | $ | 35 | $ | 5,191 | |||||||||||||||||||||
Provision for credit losses | 2,824 | 665 | (14 | ) | 5 | 656 | (76 | ) | (3 | ) | 3,401 | 52 | 3,453 | ||||||||||||||||||||||||||||
Charge-offs | (4,542 | ) | (784 | ) | (26 | ) | (78 | ) | (888 | ) | (49 | ) | (26 | ) | (5,505 | ) | 0 | (5,505 | ) | ||||||||||||||||||||||
Recoveries | 1,257 | 238 | 10 | 24 | 272 | 35 | 7 | 1,571 | 0 | 1,571 | |||||||||||||||||||||||||||||||
Net charge-offs | (3,285 | ) | (546 | ) | (16 | ) | (54 | ) | (616 | ) | (14 | ) | (19 | ) | (3,934 | ) | 0 | (3,934 | ) | ||||||||||||||||||||||
Other changes(2) | (304 | ) | 1 | 0 | 0 | 1 | (5 | ) | 0 | (308 | ) | 0 | (308 | ) | |||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 3,214 | $ | 606 | $ | 83 | $ | 63 | $ | 752 | $ | 338 | $ | 11 | $ | 4,315 | $ | 87 | $ | 4,402 | |||||||||||||||||||||
-1 | Other consists of our discontinued GreenPoint mortgage operations loan portfolio and our community redevelopment loan portfolio. | ||||||||||||||||||||||||||||||||||||||||
-2 | Consists of a reduction in the allowance of $289 million, which was attributable to the Portfolio Sale, in the first quarter of 2013. It also contains a foreign translation and other adjustment of $19 million and $15 million in 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||||||||||
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 loan category and impairment methodology, and the recorded investment of the related loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||
Table 5.2: Components of Allowance for Loan and Lease Losses by Impairment Methodology | |||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Credit | Auto | Home | Retail | Total | Commercial | Other | Total | |||||||||||||||||||||||||||||||||
Card | Loan | Banking | Consumer | ||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 2,953 | $ | 590 | $ | 27 | $ | 53 | $ | 670 | $ | 313 | $ | 11 | $ | 3,947 | |||||||||||||||||||||||||
Asset-specific(2) | 261 | 16 | 18 | 10 | 44 | 25 | 0 | 330 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 0 | 0 | 38 | 0 | 38 | 0 | 0 | 38 | |||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 3,214 | $ | 606 | $ | 83 | $ | 63 | $ | 752 | $ | 338 | $ | 11 | $ | 4,315 | |||||||||||||||||||||||||
Held-for-investment loans by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 80,462 | $ | 31,683 | $ | 6,704 | $ | 3,501 | $ | 41,888 | $ | 44,420 | $ | 121 | $ | 166,891 | |||||||||||||||||||||||||
Asset-specific(2) | 780 | 169 | 394 | 86 | 649 | 329 | 0 | 1,758 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 63 | 5 | 28,184 | 36 | 28,225 | 262 | 0 | 28,550 | |||||||||||||||||||||||||||||||||
Total held-for-investment loans | $ | 81,305 | $ | 31,857 | $ | 35,282 | $ | 3,623 | $ | 70,762 | $ | 45,011 | $ | 121 | $ | 197,199 | |||||||||||||||||||||||||
Allowance as a percentage of period-end held-for-investment loans | 3.95 | % | 1.9 | % | 0.24 | % | 1.74 | % | 1.06 | % | 0.75 | % | 9.09 | % | 2.19 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Credit | Auto | Home | Retail | Total | Commercial | Other | Total | |||||||||||||||||||||||||||||||||
Card | Loan | Banking | Consumer | ||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 3,648 | $ | 466 | $ | 47 | $ | 104 | $ | 617 | $ | 376 | $ | 32 | $ | 4,673 | |||||||||||||||||||||||||
Asset-specific(2) | 331 | 20 | 13 | 7 | 40 | 54 | 1 | 426 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 0 | 0 | 53 | 1 | 54 | 3 | 0 | 57 | |||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 3,979 | $ | 486 | $ | 113 | $ | 112 | $ | 711 | $ | 433 | $ | 33 | $ | 5,156 | |||||||||||||||||||||||||
Held-for-investment loans by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 90,594 | $ | 26,778 | $ | 7,552 | $ | 3,774 | $ | 38,104 | $ | 37,923 | $ | 154 | $ | 166,775 | |||||||||||||||||||||||||
Asset-specific(2) | 873 | 328 | 145 | 96 | 569 | 538 | 0 | 1,980 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 288 | 17 | 36,403 | 34 | 36,454 | 359 | 33 | 37,134 | |||||||||||||||||||||||||||||||||
Total held-for-investment loans | $ | 91,755 | $ | 27,123 | $ | 44,100 | $ | 3,904 | $ | 75,127 | $ | 38,820 | $ | 187 | $ | 205,889 | |||||||||||||||||||||||||
Allowance as a percentage of period-end held-for-investment loans | 4.34 | % | 1.79 | % | 0.26 | % | 2.87 | % | 0.95 | % | 1.12 | % | 17.65 | % | 2.5 | % | |||||||||||||||||||||||||
-1 | The component of the allowance for credit card and other consumer loans that we collectively evaluate for impairment is based on a statistical calculation. The component of the allowance for commercial loans, which we collectively evaluate for impairment, is based on historical loss experience for loans with similar characteristics and consideration of credit quality supplemented by management judgment and interpretation. | ||||||||||||||||||||||||||||||||||||||||
-2 | The asset-specific component of the allowance for smaller-balance impaired loans is calculated on a pool basis using historical loss experience for the respective class of assets. The asset-specific component of the allowance for larger-balance commercial loans is individually calculated for each loan. | ||||||||||||||||||||||||||||||||||||||||
-3 | The Acquired Loans component of the allowance is accounted for based on expected cash flows. See “Note 4 – Loans” for details on these loans. |
Variable_Interest_Entities_and
Variable Interest Entities and Securitizations | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Variable Interest Entities and Securitizations | ' | ||||||||||||||||||||
NOTE 6—VARIABLE INTEREST ENTITIES AND SECURITIZATIONS | |||||||||||||||||||||
In the normal course of business, we enter into various types of transactions with entities that are considered to be VIEs. Our primary involvement with VIEs has been related to our securitization transactions in which we transferred assets from our balance sheet to securitization trusts. We have primarily securitized credit card loans and home loans, which have provided a source of funding for us and enabled us to transfer a certain portion of the economic risk of the loans or 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 vast majority of the VIEs in which we are involved have been consolidated in our financial statements. | |||||||||||||||||||||
Summary of Consolidated and Unconsolidated VIEs | |||||||||||||||||||||
The table below presents a summary of VIEs, aggregated based on VIEs with similar characteristics, in which we had continuing involvement or held a variable interest as of December 31, 2013 and 2012. We separately present information for consolidated and unconsolidated VIEs. | |||||||||||||||||||||
For consolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets. The assets of consolidated VIEs primarily consist of cash and loans, which we report on our consolidated balance sheets under restricted cash and restricted loans, respectively, for securitization investors. The assets of a particular VIE are the primary source of funds to settle its obligations. The creditors of the VIEs typically do not have recourse to the general credit of our company. The liabilities primarily consist of debt securities issued by the VIEs, which we report under securitized debt obligations. For unconsolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets and our maximum exposure to loss. Our maximum exposure to loss is estimated based on the unlikely event that all of the assets in the VIEs became worthless and we were required to meet our maximum remaining funding obligations. | |||||||||||||||||||||
Table 6.1: Carrying Amount of Consolidated and Unconsolidated VIEs | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||
(Dollars in millions) | Carrying | Carrying | Carrying | Carrying | Maximum | ||||||||||||||||
Amount | Amount of | Amount | Amount of | Exposure to | |||||||||||||||||
of Assets | Liabilities | of Assets | Liabilities | Loss | |||||||||||||||||
Securitization-related VIEs: | |||||||||||||||||||||
Credit card loan securitizations(1) | $ | 40,422 | $ | 12,671 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Home loan securitizations(2) | 0 | 0 | 199 | 15 | 702 | ||||||||||||||||
Total securitization-related VIEs | 40,422 | 12,671 | 199 | 15 | 702 | ||||||||||||||||
Other VIEs: | |||||||||||||||||||||
Affordable housing entities | 0 | 0 | 3,137 | 461 | 3,137 | ||||||||||||||||
Entities that provide capital to low-income and rural communities | 389 | 98 | 1 | 0 | 1 | ||||||||||||||||
Other | 1 | 1 | 95 | 0 | 95 | ||||||||||||||||
Total other VIEs | 390 | 99 | 3,233 | 461 | 3,233 | ||||||||||||||||
Total VIEs | $ | 40,812 | $ | 12,770 | $ | 3,432 | $ | 476 | $ | 3,935 | |||||||||||
December 31, 2012 | |||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||
(Dollars in millions) | Carrying | Carrying | Carrying | Carrying | Maximum | ||||||||||||||||
Amount | Amount of | Amount | Amount of | Exposure to | |||||||||||||||||
of Assets | Liabilities | of Assets | Liabilities | Loss | |||||||||||||||||
Securitization-related VIEs: | |||||||||||||||||||||
Credit card loan securitizations(1) | $ | 44,238 | $ | 13,488 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Home loan securitizations(2) | 41 | 38 | 212 | 17 | 712 | ||||||||||||||||
Other asset securitizations(1) | 19 | 19 | 0 | 0 | 0 | ||||||||||||||||
Total securitization-related VIEs | 44,298 | 13,545 | 212 | 17 | 712 | ||||||||||||||||
Other VIEs: | |||||||||||||||||||||
Affordable housing entities | 0 | 0 | 2,390 | 414 | 2,390 | ||||||||||||||||
Entities that provide capital to low-income and rural communities | 375 | 88 | 6 | 4 | 6 | ||||||||||||||||
Other | 1 | 0 | 201 | 86 | 201 | ||||||||||||||||
Total other VIEs | 376 | 88 | 2,597 | 504 | 2,597 | ||||||||||||||||
Total VIEs | $ | 44,674 | $ | 13,633 | $ | 2,809 | $ | 521 | $ | 3,309 | |||||||||||
-1 | Represents the gross assets and liabilities owned by the VIE, which includes seller’s interest and retained and repurchased notes held by other related parties. | ||||||||||||||||||||
-2 | The carrying amount of assets of unconsolidated securitization-related VIEs consists of retained interests associated with the securitization of option-adjustable rate mortgage loans (“option-arms”) and letters of credit related to manufactured housing securitizations. These are reported on our consolidated balance sheets under other assets. The carrying amount of liabilities of unconsolidated securitization-related VIEs is comprised of obligations on certain swap agreements associated with the securitization of manufactured housing loans. | ||||||||||||||||||||
Securitization-related VIEs | |||||||||||||||||||||
In a securitization transaction, assets from our balance sheet are transferred to a trust we establish, which typically meets the definition of a VIE. Our continuing involvement in the majority of our securitization transactions consists primarily of holding certain retained interests and acting as the primary servicer. We have the option to repurchase receivables from the trust if the outstanding balance of the receivables falls to a level where the cost exceeds the benefits of servicing such receivables. In some cases, we are contractually required to exercise the repurchase option if the primary servicer fails to do so. We also may have exposure associated with contractual obligations to repurchase previously transferred loans due to breaches of representations and warranties. See “Note 20—Commitments, Contingencies, Guarantees, and Others” for information related to reserves we have established for our potential mortgage representation and warranty exposure. | |||||||||||||||||||||
The table below presents the securitization-related VIEs in which we had continuing involvement as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||
Table 6.2: Continuing Involvement in Securitization-Related VIEs | |||||||||||||||||||||
Non-Mortgage | Mortgage | ||||||||||||||||||||
(Dollars in millions) | Credit | Other | Option | GreenPoint | GreenPoint | ||||||||||||||||
Card | Loan | Arm | HELOCs | Manufactured | |||||||||||||||||
Housing | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Securities held by third-party investors | $ | 10,289 | $ | 0 | $ | 2,320 | $ | 122 | $ | 994 | |||||||||||
Receivables in the trust | 39,548 | 0 | 2,399 | 116 | 1,000 | ||||||||||||||||
Cash balance of spread or reserve accounts | 3 | 0 | 8 | N/A | 144 | ||||||||||||||||
Retained interests | Yes | No | Yes | Yes | Yes | ||||||||||||||||
Servicing retained | Yes | No | Yes | (1) | Yes | (1) | No | (2) | |||||||||||||
Amortization event(3) | No | No | No | No | No | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||
Securities held by third-party investors | $ | 11,347 | $ | 13 | $ | 2,702 | $ | 158 | $ | 1,117 | |||||||||||
Receivables in the trust | 43,811 | 19 | 2,794 | 151 | 1,123 | ||||||||||||||||
Cash balance of spread or reserve accounts | 0 | 0 | 8 | 0 | 164 | ||||||||||||||||
Retained interests | Yes | Yes | Yes | Yes | Yes | ||||||||||||||||
Servicing retained | Yes | Yes | Yes | (1) | Yes | (1) | No | (2) | |||||||||||||
Amortization event(3) | No | No | No | Yes | No | ||||||||||||||||
-1 | We continue to service some of the outstanding balance of securitized mortgage receivables. | ||||||||||||||||||||
-2 | The core servicing activities for the manufactured housing securitizations are done by a third party. | ||||||||||||||||||||
-3 | Amortization events vary according to each specific trust agreement but generally are triggered by declines in performance or credit metrics such as charge-off rates or delinquency rates below certain predetermined thresholds. Generally, the occurrence of an amortization event changes the sequencing and amount of trust-related cash flows to the benefit of senior noteholders. | ||||||||||||||||||||
Non-Mortgage Securitizations | |||||||||||||||||||||
As of December 31, 2013 and 2012, we were deemed to be the primary beneficiary of all of our non-mortgage securitization trusts. Accordingly, all of these trusts have been consolidated in our financial statements. | |||||||||||||||||||||
Mortgage Securitizations | |||||||||||||||||||||
Option-ARM Loans | |||||||||||||||||||||
We had previously securitized option-ARM mortgage loans by transferring the mortgage 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 our mortgage loan securitization trusts was $2.3 billion and $2.7 billion as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
We continue to service some of the outstanding balance of securitized mortgage receivables. We also retain rights to future cash flows arising from the receivables, the most significant being certificated interest-only bonds issued by the trusts. We generally estimate the fair value of these retained interests based on the estimated present value of expected future cash flows from securitized and sold receivables, using our best estimates of the key assumptions which include credit losses, prepayment speeds and discount rates commensurate with the risks involved. For the trusts that we continue to service, we do not consolidate these entities because we do not have the right to receive benefits that could potentially be significant 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 because 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. 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. See “Note 10—Derivative Instruments and Hedging Activities” for further details on these derivatives. | |||||||||||||||||||||
GreenPoint Mortgage Home Equity Line of Credits (“HELOCs”) | |||||||||||||||||||||
Our discontinued wholesale mortgage banking unit, GreenPoint, previously sold home equity lines of credit in whole loan sales and subsequently acquired residual interests in certain trusts which securitized some of those loans. As the residual interest holder, GreenPoint is required to fund advances on the home equity lines of credit when certain performance triggers are met due to deterioration in asset performance. As of December 31, 2013 and 2012, we funded $29 million and $28 million in cumulative advances, respectively, which are generally expensed as funded due to the low likelihood of recovery. We also have unfunded commitments of $7 million and $8 million related to those interests for our non-consolidated VIEs as of December 31, 2013 and 2012, respectively. In the fourth quarter of 2013, we deconsolidated one of these trusts as a result of no longer being deemed the primary beneficiary due to our sale of loan servicing rights. The deconsolidation of the trust resulted in the removal of $33 million of assets and $30 million in liabilities from our consolidated balance sheets and a $3 million charge to our consolidated statements of income. As such, we no longer consolidate the trust because we either lack the power to direct the activities that most significantly impact the economic performance of the trust or because we do not have the right to receive benefits of the obligation to absorb losses that could potentially be significant to the trusts. | |||||||||||||||||||||
GreenPoint Mortgage Manufactured Housing | |||||||||||||||||||||
We retain the primary obligation for certain provisions of corporate guarantees, recourse sales and clean-up calls related to the discontinued manufactured housing operations of GreenPoint Credit LLC, which was sold to a third party in 2004. Although we are the primary obligor, recourse obligations related to aforementioned whole loan sales, commitments to exercise mandatory clean-up calls on certain securitization transactions and servicing were transferred to a third party in the sale transaction. We do not consolidate the trusts used for the securitization of manufactured housing loans because we do not have the power to direct the activities that most significantly impact the economic performance of the trusts since we no longer service the loans. | |||||||||||||||||||||
We were required to fund letters of credit in 2004 to cover losses and are obligated to fund future amounts under swap agreements for certain transactions. We have the right to receive any funds remaining in the letters of credit after the securities are released. The amount available under the letters of credit was $144 million and $164 million as of December 31, 2013 and 2012, respectively. The fair value of the expected residual balances on the funded letters of credit was $43 million and $50 million as of December 31, 2013 and 2012, respectively, and is included in other assets on the consolidated balance sheets. | |||||||||||||||||||||
The unpaid principal balance of manufactured housing securitization transactions where we are the residual interest holder was $1.0 billion and $1.1 billion as of December 31, 2013 and 2012, respectively. In the event the third party servicer does not fulfill on its obligation to exercise the clean-up calls on certain transactions, the obligation reverts to us and we would assume approximately $420 million of loans receivable upon our execution of the clean-up call with the requirement to absorb any losses on the loans receivable. | |||||||||||||||||||||
We monitor the underlying assets for trends in delinquencies and related losses and review the purchaser’s financial strength as well as servicing performance. These factors are considered in assessing the adequacy of the liabilities established for these obligations and the valuations of the assets. | |||||||||||||||||||||
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. 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. As of December 31, 2013 and 2012 our interests consisted of assets of approximately $3.1 billion and $2.4 billion, respectively. Our maximum exposure to these entities is limited to our variable interests in the entities and was $3.1 billion as of December 31, 2013. The creditors of the VIEs have no recourse to our general credit and we do not provide additional financial or other support during the period that we were not previously contractually required to provide. The total assets of the unconsolidated investment funds that were VIEs as of December 31, 2013 and 2012 were approximately $9.9 billion and $7.7 billion, respectively. | |||||||||||||||||||||
Entities that Provide Capital to Low-Income and Rural Communities | |||||||||||||||||||||
We hold variable interests in entities (“Investor Entities”) that invest in community development entities (“CDEs”) that provide debt financing to businesses and non-profit entities in low-income and rural communities. Variable interests in the CDEs held by the consolidated Investor Entities are also our variable interests. The activities of the Investor Entities are financed with a combination of invested equity capital and debt. The activities of the CDEs are financed solely with invested equity capital. We receive federal and state tax credits for these investments. We consolidate the VIEs in which we have the power to direct the activities that most significantly impact the VIE’s economic performance and 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 we do not consider VIEs. The assets of the VIEs that we consolidated as of December 31, 2013 and 2012 totaled approximately $389 million and $375 million, respectively. The assets of the consolidated VIEs are reflected on our consolidated balance sheets in cash, loans held for investment, interest receivable and other assets. The liabilities are reflected in other liabilities. | |||||||||||||||||||||
Other | |||||||||||||||||||||
We also have a variable interest in a trust that has a royalty interest in certain oil and gas properties. The activities of the trust are financed solely with debt. The total assets of the trust were $204 million and $255 million as of December 31, 2013 and 2012, respectively. We were not required to consolidate the trust because we do not have the power to direct the activities of the trust that most significantly impact the trust’s economic performance. Our retained interest in the trust, which totaled approximately $93 million and $114 million as of December 31, 2013 and 2012, respectively, is reflected on our consolidated balance sheets under loans held for investment. Our maximum exposure is limited to our variable interest of $93 million as of December 31, 2013. The creditors of the trust have no recourse to our general credit. We have not provided additional financial or other support during the period that we were not previously contractually required to provide. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||
NOTE 7—GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||
The table below displays the components of goodwill, other intangible assets and MSRs as of December 31, 2013 and 2012. Goodwill is presented separately on our consolidated balance sheets. Other intangible assets and MSRs are included in other assets on our consolidated balance sheets. | |||||||||||||||||
Table 7.1: Components of Goodwill and Other Intangible Assets | |||||||||||||||||
December 31, | |||||||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||||||
Goodwill | $ | 13,978 | $ | 13,904 | |||||||||||||
Other intangible assets: | |||||||||||||||||
Purchased credit card relationship intangibles(1) | 1,341 | 1,864 | |||||||||||||||
Core deposit intangibles | 331 | 496 | |||||||||||||||
Other(2) | 177 | 211 | |||||||||||||||
Total other intangible assets | 1,849 | 2,571 | |||||||||||||||
Total goodwill and other intangible assets | $ | 15,827 | $ | 16,475 | |||||||||||||
MSRs: | |||||||||||||||||
Consumer MSRs(3) | 73 | 55 | |||||||||||||||
Commercial MSRs(4) | 132 | — | |||||||||||||||
Total MSRs | $ | 205 | $ | 55 | |||||||||||||
-1 | During 2013, purchased credit card relationship intangibles with a net carrying value of $89 million related to the Best Buy loan portfolio, which was acquired in the 2012 U.S. card acquisition and sold in 2013. See “Note 4—Loans” for further discussion of the Portfolio Sale. | ||||||||||||||||
-2 | Consists of brokerage relationship intangibles, partnership and other contract intangibles, trademark/name intangibles and other intangibles. Also includes certain indefinite-lived intangibles of $4 million as of December 31, 2013. | ||||||||||||||||
-3 | Represent MSRs related to our consumer business that are carried at fair value on our consolidated financial statements. | ||||||||||||||||
-4 | Represent MSRs related to our commercial business that are subsequently measured under the amortization method and periodically assessed for impairment. We recorded $3 million amortization expense for the year ended December 31, 2013. None of these MSRs were impaired and no valuation allowance was recorded as of December 31, 2013. | ||||||||||||||||
Goodwill | |||||||||||||||||
The following table presents goodwill attributable to each of our business segments as of December 31, 2013 and 2012. | |||||||||||||||||
Table 7.2: Goodwill Attributable to Business Segments | |||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Total | |||||||||||||
Card | Banking | Banking | |||||||||||||||
Balance as of December 31, 2011 | $ | 4,691 | $ | 4,583 | $ | 4,318 | $ | 13,592 | |||||||||
Acquisitions | 304 | 0 | 0 | 304 | |||||||||||||
Other adjustments | 8 | 0 | 0 | 8 | |||||||||||||
Balance as of December 31, 2012 | $ | 5,003 | $ | 4,583 | $ | 4,318 | $ | 13,904 | |||||||||
Acquisitions | 0 | 3 | 70 | 73 | |||||||||||||
Other adjustments | 2 | (1 | ) | 0 | 1 | ||||||||||||
Balance as of December 31, 2013 | $ | 5,005 | $ | 4,585 | $ | 4,388 | $ | 13,978 | |||||||||
Goodwill was not impaired at December 31, 2013 or 2012, nor was any goodwill written off due to impairment during 2013, 2012 or 2011. The goodwill impairment test, performed at October 1 of each year, is a two-step test. The first step identifies whether there is potential impairment by comparing the fair value of a reporting unit to the carrying amount, including goodwill. If the fair value of a reporting unit is less than its carrying amount, the second step of the impairment test is required to measure the amount of any impairment loss. | |||||||||||||||||
The fair value of reporting units is calculated using a discounted cash flow model, a form of the income approach. The model projects cash flows based on each reporting unit’s internal forecast and uses the perpetuity growth method to calculate terminal values. These cash flows and terminal values are then discounted using appropriate discount rates, which are largely based on our external cost of equity with adjustments for risk inherent in each reporting unit. Cash flows are adjusted, as necessary, in order to maintain each reporting unit’s equity capital requirements. Our discounted cash flow analysis requires management to make judgments about future loan and deposit growth, revenue growth, credit losses, and capital rates. Discount rates used in 2013 for the reporting units ranged from 8.0% to 12.5%. The key inputs into the discounted cash flow analysis were consistent with market data, where available, indicating that assumptions used were within a reasonable range of observable market data. Based on our analysis, fair value exceeded the carrying amount for all reporting units as of our annual testing date, therefore, the second step of impairment testing was unnecessary. | |||||||||||||||||
As part of the annual goodwill impairment test, we also assess our market capitalization based on the average market price relative to the aggregate fair value of our reporting units and determined that any excess fair value in our reporting units at that time could be attributed to a reasonable control premium compared to historical control premiums seen in the industry. | |||||||||||||||||
We calculate the carrying values of our reporting units using an economic capital approach based on each reporting unit’s specific regulatory capital requirements (reflective of the final Basel III rules released during 2013) and risks. Total reporting unit carrying values for the October 1, 2013 annual goodwill impairment test were $33.6 billion, compared to total equity of $41.8 billion as of September 30, 2013. The $8.2 billion remaining equity is primarily attributable to the following items: capital allocated to our Other segment; preferred stock; and capital that was reserved for dividends and share buy-backs that occurred during the fourth quarter of 2013. The remaining equity, which represented approximately 5% of our total equity, is reserved for potential future capital needs. | |||||||||||||||||
We will continue to regularly monitor our market capitalization and capital allocations in 2014, overall economic conditions and other events or circumstances that may result in an impairment of goodwill in the future. | |||||||||||||||||
Other Intangible Assets | |||||||||||||||||
In connection with our acquisitions, we recorded intangible assets which include purchased credit card relationship intangibles, core deposit intangibles, brokerage relations intangibles, partnership contract intangibles, other contract intangibles, trade mark/ name intangibles and other intangibles, which are subject to amortization. At acquisition, the purchased credit card relationship intangibles reflect the estimated value of existing credit card holder relationships and the core deposit intangibles reflect the estimated value of deposit relationships. None of our intangibles were impaired and no valuation allowance was recorded as of December 31, 2013 and 2012. | |||||||||||||||||
The following table summarizes our intangible assets subject to amortization as of December 31, 2013 and 2012: | |||||||||||||||||
Table 7.3: Intangible Assets | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
(Dollars in millions) | Carrying | Accumulated | Net | Remaining | |||||||||||||
Amount of | Amortization (1) | Carrying | Amortization | ||||||||||||||
Assets | Amount | Period | |||||||||||||||
Purchased credit card relationship intangibles | $ | 2,125 | $ | (784 | ) | $ | 1,341 | 6.9 years | |||||||||
Core deposit intangibles | 1,771 | (1,440 | ) | 331 | 4.7 years | ||||||||||||
Other(2) | 312 | (139 | ) | 173 | 10.2 years | ||||||||||||
Total. | $ | 4,208 | $ | (2,363 | ) | $ | 1,845 | 6.8 years | |||||||||
31-Dec-12 | |||||||||||||||||
(Dollars in millions) | Carrying | Accumulated | Net | Remaining | |||||||||||||
Amount of | Amortization | Carrying | Amortization | ||||||||||||||
Assets | Amount | Period | |||||||||||||||
Purchased credit card relationship intangibles | $ | 2,242 | $ | (378 | ) | $ | 1,864 | 7.8 years | |||||||||
Core deposit intangibles | 1,771 | (1,275 | ) | 496 | 5.6 years | ||||||||||||
Other(2) | 354 | (143 | ) | 211 | 10.3 years | ||||||||||||
Total | $ | 4,367 | $ | (1,796 | ) | $ | 2,571 | 7.6 years | |||||||||
-1 | During 2013, accumulated amortization was reduced by $104 million primarily related to purchased credit card relationships (“PCCR”) intangibles related to the Best Buy loan portfolio which was sold in 2013 and certain fully amortized intangible assets that were removed from our balance sheet. See “Note 4—Loans” for further discussion of the Portfolio Sale. | ||||||||||||||||
-2 | Consists of brokerage relationship intangibles, partnership and other contract intangibles, trademark/name intangibles and other intangibles. | ||||||||||||||||
Intangible assets are typically amortized over their respective estimated useful lives on either a straight-line or an accelerated basis. The following table summarizes the actual amortization expense recorded for the years ended December 31, 2013, 2012 and 2011 and the estimated future amortization expense for intangible assets as of December 31, 2013: | |||||||||||||||||
Table 7.4: Amortization Expense | |||||||||||||||||
(Dollars in millions) | Amortization | ||||||||||||||||
Expense | |||||||||||||||||
Actual for the year ended December 31, | |||||||||||||||||
2011 | $ | 222 | |||||||||||||||
2012 | 609 | ||||||||||||||||
2013 | 671 | ||||||||||||||||
Estimated future amounts for the year ended December 31, | |||||||||||||||||
2014 | $ | 532 | |||||||||||||||
2015 | 430 | ||||||||||||||||
2016 | 333 | ||||||||||||||||
2017 | 239 | ||||||||||||||||
2018 | 154 | ||||||||||||||||
Thereafter | 157 | ||||||||||||||||
Total estimated future amounts | $ | 1,845 | |||||||||||||||
Premises_Equipment_Lease_Commi
Premises, Equipment & Lease Commitments | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Premises, Equipment & Lease Commitments | ' | ||||||||
NOTE 8—PREMISES, EQUIPMENT & LEASE COMMITMENTS | |||||||||
Premises and Equipment | |||||||||
Premises and equipment at December 31, 2013 and 2012 were as follows: | |||||||||
Table 8.1: Components of Premises and Equipment | |||||||||
December 31, | |||||||||
(Dollars in millions) | 2013 | 2012 | |||||||
Land | $ | 569 | $ | 580 | |||||
Buildings and improvements | 2,388 | 2,341 | |||||||
Furniture and equipment | 1,874 | 1,589 | |||||||
Computer software | 1,632 | 1,563 | |||||||
In progress | 720 | 420 | |||||||
Total premises and equipment, gross | 7,183 | 6,493 | |||||||
Less: Accumulated depreciation and amortization | (3,344 | ) | (2,906 | ) | |||||
Total premises and equipment, net | $ | 3,839 | $ | 3,587 | |||||
Depreciation and amortization expense from continuing operations was $571 million, $468 million and $317 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
Lease Commitments | |||||||||
Certain premises and equipment are leased under agreements that expire at various dates through 2056, without taking into consideration available renewal options. Many of these leases provide for payment by the lessee of property taxes, insurance premiums, cost of maintenance and other costs. In some cases, rentals are subject to increases in relation to a cost of living index. Total rent expenses from continuing operations amounted to approximately $245 million, $216 million and $180 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
Future minimum rental commitments as of December 31, 2013, for all non-cancelable operating leases with initial or remaining terms of one year or more are as follows: | |||||||||
Table 8.2: Lease Commitments | |||||||||
(Dollars in millions) | Estimated | ||||||||
Future | |||||||||
Minimum | |||||||||
Rental | |||||||||
Commitments | |||||||||
2014 | $ | 245 | |||||||
2015 | 227 | ||||||||
2016 | 213 | ||||||||
2017 | 194 | ||||||||
2018 | 171 | ||||||||
Thereafter | 752 | ||||||||
Total | $ | 1,802 | |||||||
Minimum sublease rental income of $32 million due in future years under non-cancelable leases has not been included in the table above as a reduction to minimum lease payments. |
Deposits_and_Borrowings
Deposits and Borrowings | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Deposits and Borrowings | ' | ||||||||||||||||||||||||||||
NOTE 9—DEPOSITS AND BORROWINGS | |||||||||||||||||||||||||||||
Customer Deposits | |||||||||||||||||||||||||||||
Our customer deposits, which are our largest source of funding for our operations and asset growth, consist of non-interest bearing and interest-bearing deposits, including demand deposits, money market deposits, negotiable order of withdrawal (“NOW”) accounts, savings accounts and certificates of deposit. | |||||||||||||||||||||||||||||
As of December 31, 2013, we had $181.9 billion in interest-bearing deposits, of which $4.0 billion represented large denomination time deposits of $100,000 or more. As of December 31, 2012, we had $190.0 billion in interest-bearing deposits, of which $4.5 billion represents large denomination time deposits of $100,000 or more. | |||||||||||||||||||||||||||||
Securitized Debt Obligations | |||||||||||||||||||||||||||||
Securitization debt obligations decreased by $1.1 billion during 2013 to $10.3 billion as of December 31, 2013, from $11.4 billion as of December 31, 2012. The decrease was driven by maturities and repurchases totaling $3.3 billion, partially offset by the issuance of $2.2 billion of credit card securitization debt during 2013. | |||||||||||||||||||||||||||||
Other Debt | |||||||||||||||||||||||||||||
We filed a shelf registration statement with the U.S. Securities & Exchange Commission on April 30, 2012, which will expire three years from the filing date, under which, from time to time, we may offer and sell an indeterminate aggregate amount of senior or subordinated debt securities, preferred stock, depository shares, common stock, purchase contracts, warrants and units. There is no limit under this shelf registration statement to the amount or number of such securities that we may offer and sell, subject to market conditions. | |||||||||||||||||||||||||||||
Senior and Subordinated Notes | |||||||||||||||||||||||||||||
As of December 31, 2013, we had $13.1 billion of senior and subordinated notes outstanding, net of fair value hedging losses of $8 million. As of December 31, 2012, we had $12.7 billion of senior and subordinated notes outstanding, net of fair value hedging losses of $857 million. In 2013, we issued $2.0 billion of long-term senior unsecured debt. The offering of senior notes included $380 million of floating-rate and $400 million of fixed-rate debt due 2016 and $1.2 billion of fixed-rate debt due 2018. See “Note 10—Derivative Instruments and Hedging Activities” for information about our fair value hedging activities. | |||||||||||||||||||||||||||||
In the first quarter of 2013, we exchanged $1.2 billion of outstanding 8.80% subordinated notes due 2019. The transaction involved offering current holders market value plus an exchange premium for these outstanding notes. The consideration was paid through a combination of $1.4 billion of new 3.375% subordinated notes due 2023 and cash of $209 million. In the second quarter of 2013, we exchanged $763 million of outstanding 6.75% senior notes due 2017. The transaction involved offering current holders market value plus an exchange premium for these outstanding notes. The consideration was paid through a combination of $839 million of new 3.5% senior notes due 2023 and cash of $88 million. Both exchanges were accounted for as a modification of debt. | |||||||||||||||||||||||||||||
Junior Subordinated Debentures | |||||||||||||||||||||||||||||
In the first quarter of 2013 in connection with our redemption of our trust preferred securities, we redeemed our junior subordinated debt with an aggregate carrying value of $3.65 billion, resulting in a $65 million loss on extinguishment of debt. | |||||||||||||||||||||||||||||
FHLB Advances and Other Short-term Borrowings | |||||||||||||||||||||||||||||
In addition to issuance capacity under the shelf registration statement, we have access to other borrowing programs, including advances from the FHLB. Our FHLB membership is secured by our investment in FHLB stock which totaled $774 million and $1.3 billion as of December 31, 2013 and 2012, respectively, and is included in other assets on our consolidated balance sheets. | |||||||||||||||||||||||||||||
We had outstanding FHLB advances, which were secured by our investment securities, residential home loans, multifamily loans, commercial real-estate loans and home equity lines of credit, totaling $16.3 billion and $20.9 billion as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
We have access to short term borrowings through the Federal Reserve. Our membership with the Federal Reserve is secured by our investment in Federal Reserve stock, totaling $1.2 billion, as of both December 31, 2013 and 2012. This investment is included in other assets on our consolidated balance sheets. | |||||||||||||||||||||||||||||
Composition of Customer Deposits, Short-term Borrowings and Long-term Debt | |||||||||||||||||||||||||||||
The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of December 31, 2013 and 2012. Our total short-term borrowings consist of federal funds purchased and securities loaned and sold under agreements to repurchase and other short-term borrowings with an original contractual maturity of one year or less. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The amounts presented for outstanding borrowings include unamortized debt premiums and discounts, net of fair value hedge accounting adjustments. | |||||||||||||||||||||||||||||
Table 9.1: Components of Customer Deposits, Short-term Borrowings and Long-term Debt | |||||||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 22,643 | $ | 22,467 | |||||||||||||||||||||||||
Interest-bearing deposits | 181,880 | 190,018 | |||||||||||||||||||||||||||
Total deposits | $ | 204,523 | $ | 212,485 | |||||||||||||||||||||||||
Short-term borrowings: | |||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 | |||||||||||||||||||||||||||
FHLB advances | 15,300 | 19,900 | |||||||||||||||||||||||||||
Total short-term borrowings | $ | 16,215 | $ | 21,148 | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
(Dollars in millions) | Maturity | Interest | Weighted | Outstanding | December 31, | ||||||||||||||||||||||||
Date | Rate | Average | Amount | 2012 | |||||||||||||||||||||||||
Interest Rate | |||||||||||||||||||||||||||||
Long-term debt: | |||||||||||||||||||||||||||||
Securitized debt obligations | 2014 - 2025 | 0.21 - 6.40 | % | 1.57 | % | $ | 10,289 | $ | 11,398 | ||||||||||||||||||||
Senior and subordinated notes: | |||||||||||||||||||||||||||||
Fixed unsecured senior debt | 2014 - 2023 | 1.00 - 7.38 | % | 3.61 | % | 9,612 | 8,623 | ||||||||||||||||||||||
Floating unsecured senior debt | 2014 - 2016 | 0.70 - 1.39 | % | 0.96 | % | 852 | 500 | ||||||||||||||||||||||
Total unsecured senior debt | 3.26 | % | 10,464 | 9,123 | |||||||||||||||||||||||||
Fixed unsecured subordinated debt | 2014 - 2023 | 3.38 - 8.80 | % | 4.98 | % | 2,670 | 3,563 | ||||||||||||||||||||||
Total senior and subordinated notes | 13,134 | 12,686 | |||||||||||||||||||||||||||
Other long-term borrowings: | |||||||||||||||||||||||||||||
Fixed junior subordinated debt | N/A | N/A | N/A | 0 | 3,641 | ||||||||||||||||||||||||
FHLB advances | 2014 - 2023 | 0.31 - 6.88 | % | 0.73 | % | 1,016 | 1,037 | ||||||||||||||||||||||
Total long-term debt | $ | 24,439 | $ | 28,762 | |||||||||||||||||||||||||
Total short-term borrowings and long-term debt | $ | 40,654 | $ | 49,910 | |||||||||||||||||||||||||
Interest-bearing deposits, securitized debt obligations and other debt as of December 31, 2013 mature as follows: | |||||||||||||||||||||||||||||
Table 9.2: Maturity Profile of Borrowings and Debt | |||||||||||||||||||||||||||||
(Dollars in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
Interest-bearing time deposits(1) | $ | 6,348 | $ | 2,591 | $ | 392 | $ | 212 | $ | 667 | $ | 123 | $ | 10,333 | |||||||||||||||
Securitized debt obligations | 2,958 | 501 | 3,521 | 3,095 | 0 | 214 | 10,289 | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 915 | 0 | 0 | 0 | 0 | 0 | 915 | ||||||||||||||||||||||
Senior and subordinated notes | 2,385 | 2,649 | 2,604 | 882 | 1,176 | 3,438 | 13,134 | ||||||||||||||||||||||
Other borrowings | 16,243 | 20 | 19 | 19 | 11 | 4 | 16,316 | ||||||||||||||||||||||
Total | $ | 28,849 | $ | 5,761 | $ | 6,536 | $ | 4,208 | $ | 1,854 | $ | 3,779 | $ | 50,987 | |||||||||||||||
-1 | Includes only those interest-bearing deposits which have a contractual maturity date. | ||||||||||||||||||||||||||||
Components of Interest Expense | |||||||||||||||||||||||||||||
The following table displays interest expense attributable to short-term borrowings and long-term debt for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
Table 9.3: Components of Interest Expense | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Short-term borrowings: | |||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | $ | 1 | $ | 2 | $ | 4 | |||||||||||||||||||||||
FHLB advances | 28 | 18 | 2 | ||||||||||||||||||||||||||
Total short-term borrowings | 29 | 20 | 6 | ||||||||||||||||||||||||||
Long-term debt: | |||||||||||||||||||||||||||||
Securitized debt obligations(1) | 183 | 271 | 422 | ||||||||||||||||||||||||||
Senior and subordinated notes:(1) | |||||||||||||||||||||||||||||
Unsecured senior debt | 234 | 226 | 181 | ||||||||||||||||||||||||||
Unsecured subordinated debt | 81 | 119 | 119 | ||||||||||||||||||||||||||
Total senior and subordinated notes | 315 | 345 | 300 | ||||||||||||||||||||||||||
Other long-term borrowings: | |||||||||||||||||||||||||||||
Junior subordinated debt | 1 | 315 | 310 | ||||||||||||||||||||||||||
FHLB advances | 7 | 11 | 12 | ||||||||||||||||||||||||||
Other | 16 | 10 | 9 | ||||||||||||||||||||||||||
Total long-term debt | 522 | 952 | 1,053 | ||||||||||||||||||||||||||
Total short-term borrowings and long-term debt | $ | 551 | $ | 972 | $ | 1,059 | |||||||||||||||||||||||
-1 | Interest expense includes the impact from hedge accounting. | ||||||||||||||||||||||||||||
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||
NOTE 10—DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | |||||||||||||||||||||||||
Use of Derivatives | |||||||||||||||||||||||||
We manage our asset and liability position and market risk exposure in accordance with prescribed risk management policies and limits established by our Market and Liquidity Risk Policy which is approved by our Board of Directors. Our primary market risk stems from the impact on our earnings and economic value of equity from changes in interest rates, to a lesser extent, changes in foreign exchange rate. 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 asset and liability management policy also includes the use of derivatives to hedge foreign currency denominated transactions to limit our earnings exposure to foreign exchange risk. We execute our derivative contracts in both the over-the-counter and exchange-traded derivative markets. 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 risk. We also offer various derivatives to our customers as part of our commercial banking business but usually offset our exposure through derivative transactions with other counterparties. | |||||||||||||||||||||||||
Accounting for Derivatives | |||||||||||||||||||||||||
Our derivatives are designated as either qualifying accounting hedges or free-standing derivatives. Free-standing derivatives consist of customer-accommodation derivatives and economic hedges that do not qualify for hedge accounting. Qualifying accounting hedges are designated as fair value hedges or cash flow hedges. | |||||||||||||||||||||||||
• | Fair Value Hedges: We designate derivatives as fair value hedges to manage our exposure to changes in the fair value of certain financial assets and liabilities, which fluctuate in value as a result of movements in interest rates. Changes in the fair value of derivatives designated as fair value hedges are recorded in earnings together with offsetting changes in the fair value of the hedged item and any resulting ineffectiveness. Our fair value hedges consist of interest rate swaps that are intended to modify our exposure to interest rate risk on various fixed rate liabilities. | ||||||||||||||||||||||||
• | Cash Flow Hedges: We designate derivatives as cash flow hedges to manage our exposure to variability in cash flows related to forecasted transactions. Changes in the fair value of derivatives designated as cash flow hedges are recorded as a component of AOCI, to the extent that the hedge relationships are effective, and amounts are reclassified from AOCI to earnings as the forecasted transactions occur. To the extent that any ineffectiveness exists in the hedge relationships, the amounts are recorded in current period earnings. Our cash flow hedges consist of interest rate swaps that are intended to hedge the variability in interest payments on some of our variable rate assets through 2019. These hedges have the effect of converting some of our variable rate assets to a fixed rate. We also have entered into forward foreign currency derivative contracts to hedge our exposure to variability in cash flows related to foreign currency denominated intercompany borrowings. | ||||||||||||||||||||||||
• | Free-Standing Derivatives: We use free-standing derivatives to hedge the risk of changes in the fair value of residential MSR, mortgage loan origination and purchase commitments and other interests held. We also categorize our customer-accommodation derivatives and the related offsetting contracts as free-standing derivatives. Changes in the fair value of free-standing derivatives are recorded in earnings as a component of other non-interest income. | ||||||||||||||||||||||||
Balance Sheet Presentation | |||||||||||||||||||||||||
The following table summarizes the notional and fair value of our derivative instruments reported in our consolidated balance sheets as of December 31, 2013 and 2012. The fair value amounts are segregated by derivatives that are designated as accounting hedges those that are not, and are further segregated by type of contract within those two categories. | |||||||||||||||||||||||||
Table 10.1: Derivative Assets and Liabilities at Fair Value | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Notional or | Derivatives at Fair Value | Notional or | Derivatives at Fair Value | ||||||||||||||||||||||
Contractual | Contractual | ||||||||||||||||||||||||
(Dollars in millions) | Amount | Assets | Liabilities | Amount | Assets | Liabilities | |||||||||||||||||||
Derivatives designated as accounting hedges: | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Fair value hedges | $ | 15,695 | $ | 289 | $ | 223 | $ | 15,902 | $ | 1,020 | $ | 0 | |||||||||||||
Cash flow hedges | 12,825 | 0 | 149 | 13,025 | 116 | 14 | |||||||||||||||||||
Total interest rate contracts | 28,520 | 289 | 372 | 28,927 | 1,136 | 14 | |||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||
Cash flow hedges | 4,806 | 49 | 53 | 5,212 | 18 | 40 | |||||||||||||||||||
Total derivatives designated as accounting hedges | 33,326 | 338 | 425 | 34,139 | 1,154 | 54 | |||||||||||||||||||
Derivatives not designated as accounting hedges: | |||||||||||||||||||||||||
Interest rate contracts covering: | |||||||||||||||||||||||||
MSRs | 353 | 0 | 7 | 147 | 12 | 2 | |||||||||||||||||||
Customer accommodation | 25,365 | 405 | 209 | 18,900 | 479 | 273 | |||||||||||||||||||
Other interest rate exposures | 1,864 | 29 | 17 | 2,553 | 45 | 22 | |||||||||||||||||||
Total interest rate contracts | 27,582 | 434 | 233 | 21,600 | 536 | 297 | |||||||||||||||||||
Foreign exchange contracts | 1,422 | 184 | 37 | 1,372 | 158 | 46 | |||||||||||||||||||
Other contracts | 1,094 | 3 | 15 | 701 | 0 | 3 | |||||||||||||||||||
Total derivatives not designated as accounting hedges | 30,098 | 621 | 285 | 23,673 | 694 | 346 | |||||||||||||||||||
Total derivatives | $ | 63,424 | $ | 959 | $ | 710 | $ | 57,812 | $ | 1,848 | $ | 400 | |||||||||||||
Offsetting of Financial Assets and Liabilities | |||||||||||||||||||||||||
We execute the majority of our derivative transactions and repurchase agreements under master netting arrangements. Under our existing enforceable master netting arrangements, we generally have the right to offset exposure with the same counterparty. In addition, either counterparty can generally request the net settlement of all contracts through a single payment upon default on, or termination of, any one contract. | |||||||||||||||||||||||||
We present all of our derivative assets and liabilities and repurchase agreements on a gross basis in our consolidated balance sheets. The following table presents as of December 31, 2013 and 2012, the gross and net fair values of our derivative assets and liabilities and repurchase agreements, as well as the related offsetting amount permitted under the accounting standards for offsetting assets and liabilities. Under the accounting standard, gross positive fair values could be offset against gross negative fair values by counterparty pursuant to legally enforceable master netting, if the netting presentation method is elected. The table also includes cash and non-cash collateral received or pledged associated with such arrangements. | |||||||||||||||||||||||||
Table 10.2: Offsetting of Financial Assets and Financial Liabilities | |||||||||||||||||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Assets | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Assets | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Received | Exposure | |||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Derivatives | $ | 959 | $ | 0 | $ | 959 | $ | (262 | ) | $ | (450 | )(1) | $ | 247 | (2) | ||||||||||
Total | $ | 959 | $ | 0 | $ | 959 | $ | (262 | ) | $ | (450 | ) | $ | 247 | |||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Liabilities | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Pledged | Exposure | |||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Derivatives | $ | 710 | $ | 0 | $ | 710 | $ | (262 | ) | $ | (371 | )(1) | $ | 77 | |||||||||||
Repurchase agreements | 907 | 0 | 907 | 0 | (907 | ) | 0 | ||||||||||||||||||
Total | $ | 1,617 | $ | 0 | $ | 1,617 | $ | (262 | ) | $ | (1,278 | ) | $ | 77 | |||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Assets | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Assets | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Received | Exposure | |||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Derivatives | $ | 1,848 | $ | 0 | $ | 1,848 | $ | (220 | ) | $ | (1,160 | )(1) | $ | 468 | (2) | ||||||||||
Total | $ | 1,848 | $ | 0 | $ | 1,848 | $ | (220 | ) | $ | (1,160 | ) | $ | 468 | |||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Liabilities | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Pledged | Exposure | |||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Derivatives | $ | 400 | $ | 0 | $ | 400 | $ | (220 | ) | $ | (98 | )(1) | $ | 82 | |||||||||||
Repurchase agreements | 1,235 | 0 | 1,235 | 0 | (1,235 | ) | 0 | ||||||||||||||||||
Total | $ | 1,635 | $ | 0 | $ | 1,635 | $ | (220 | ) | $ | (1,333 | ) | $ | 82 | |||||||||||
-1 | When we receive or pledge collateral, we factor in accrued interest when calculating net positions with counterparties. | ||||||||||||||||||||||||
-2 | The majority of the net position relates to customer-accommodation derivatives. Customer-accommodation derivatives are cross-collateralized by the associated commercial loans and we do not require additional collateral on these transactions. | ||||||||||||||||||||||||
Income Statement Presentation and AOCI | |||||||||||||||||||||||||
The following tables summarize the impact of derivatives and the related hedged items on our consolidated statements of income and AOCI. | |||||||||||||||||||||||||
Fair Value Hedges and Free-Standing Derivatives | |||||||||||||||||||||||||
The net gains (losses) recognized in earnings related to derivatives in fair value hedging relationships and free-standing derivatives are presented below for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||
Table 10.3: Gains and Losses on Fair Value Hedges and Free-Standing Derivatives | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Derivatives designated as accounting hedges(1): | |||||||||||||||||||||||||
Fair value interest rate contracts: | |||||||||||||||||||||||||
Gains (losses) recognized in earnings on derivatives | $ | (550 | ) | $ | 1 | $ | 348 | ||||||||||||||||||
Gains (losses) recognized in earnings on hedged items | 507 | (37 | ) | (333 | ) | ||||||||||||||||||||
Net fair value hedge ineffectiveness gains (losses) | (43 | ) | (36 | ) | 15 | ||||||||||||||||||||
Derivatives not designated as accounting hedges(1): | |||||||||||||||||||||||||
Interest rate contracts covering: | |||||||||||||||||||||||||
MSRs | (12 | ) | 4 | 4 | |||||||||||||||||||||
Customer accommodation | 49 | 39 | 23 | ||||||||||||||||||||||
Other interest rate exposures | (9 | ) | (60 | ) | (275 | ) | |||||||||||||||||||
Total interest rate contracts | 28 | (17 | ) | (248 | ) | ||||||||||||||||||||
Foreign exchange contracts | (5 | ) | (15 | ) | 30 | ||||||||||||||||||||
Other contracts(2) | (20 | ) | (4 | ) | 21 | ||||||||||||||||||||
Total gains (losses) on derivatives not designated as accounting hedges | 3 | (36 | ) | (197 | ) | ||||||||||||||||||||
Net derivative gains (losses) recognized in earnings | $ | (40 | ) | $ | (72 | ) | $ | (182 | ) | ||||||||||||||||
-1 | Amounts are recorded in our consolidated statements of income in other non-interest income. | ||||||||||||||||||||||||
-2 | Includes derivative instruments used to hedge mortgage pipeline and certain free-standing derivatives. | ||||||||||||||||||||||||
Cash Flow Hedges and Net Investment Hedges | |||||||||||||||||||||||||
The table below shows the net gains (losses) related to derivatives designated as cash flow hedges and net investment hedges for the years ended December 31, 2013, 2012 and 2011:` | |||||||||||||||||||||||||
Table 10.4: Gains and Losses on Derivatives Designated as Cash Flow Hedges | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Gains (losses) recorded in AOCI: | |||||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||
Interest rate contracts | $ | (103 | ) | $ | 116 | $ | 32 | ||||||||||||||||||
Foreign exchange contracts | (21 | ) | (23 | ) | (20 | ) | |||||||||||||||||||
Total | (124 | ) | 93 | 12 | |||||||||||||||||||||
Net Investment Hedges: | |||||||||||||||||||||||||
Foreign exchange contracts | 0 | 0 | (2 | ) | |||||||||||||||||||||
Net derivative gains (losses) recognized in AOCI | $ | (124 | ) | $ | 93 | $ | 10 | ||||||||||||||||||
Gains (losses) recorded in earnings: | |||||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||
Gains (losses) reclassified from AOCI into earnings: | |||||||||||||||||||||||||
Interest rate contracts(1) | $ | 53 | $ | 42 | $ | 3 | |||||||||||||||||||
Foreign exchange contracts(2) | (22 | ) | (22 | ) | (21 | ) | |||||||||||||||||||
Total | 31 | 20 | (18 | ) | |||||||||||||||||||||
Gains (losses) recognized in earnings due to ineffectiveness: | |||||||||||||||||||||||||
Interest rate contracts(2) | (1 | ) | 0 | 0 | |||||||||||||||||||||
Net derivative gains (losses) recognized in earnings | $ | 30 | $ | 20 | $ | (18 | ) | ||||||||||||||||||
-1 | Amounts reclassified are recorded in our consolidated statements of income in interest income or interest expense. | ||||||||||||||||||||||||
-2 | Amounts reclassified are recorded in our consolidated statements of income in other non-interest income. | ||||||||||||||||||||||||
We expect to reclassify net after-tax losses of $71 million recorded in AOCI as of December 31, 2013, related to derivatives designated as cash flow hedges to earnings over the next 12 months, which we expect to offset against the cash flows associated with the hedged forecasted transactions. The maximum length of time over which forecasted transactions were hedged was five years as of December 31, 2013. 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. | |||||||||||||||||||||||||
Credit Risk-Related Contingency Features and Collateral | |||||||||||||||||||||||||
Certain of our derivative contracts 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 derivative counterparties would have the right to terminate the derivative contract and close out the existing positions, or demand immediate and ongoing full overnight collateralization on derivative instruments in a net liability position. Certain of our derivative contracts may also allow, in the event of a downgrade of our debt credit rating of any kind, our derivative counterparties to demand additional collateralization on such derivative instruments in a net liability position. We have posted $371 million and $109 million as collateral for this exposure in the normal course of business as of December 31, 2013 and 2012, respectively. If our debt credit rating had fallen below investment grade, we would have been required to post additional variation margin, which represents the impact of daily position mark-to-market calculations, of less than $1 million and $4 million as of December 31, 2013 and 2012, respectively. In addition, we would have been required to post independent margin of $58 million and $67 million as of December 31, 2013 and 2012, respectively, in compliance with the terms of certain of our swap agreements. The fair value of derivative instruments with credit-risk-related contingent features in a net liability position was less than $1 million and $7 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Derivative 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 contractual 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 assets, assuming no recoveries of underlying collateral. To mitigate the risk of counterparty default, we maintain collateral agreements with certain derivative counterparties. These agreements typically require both parties to maintain collateral in the event the fair values of derivative financial instruments exceed established thresholds. We received cash collateral from derivatives counterparties totaling $397 million and $922 million as of December 31, 2013 and 2012, respectively. We also received securities from derivatives counterparties totaling $53 million and $238 million as of December 31, 2013 and 2012, respectively, which we have the ability to repledge. | |||||||||||||||||||||||||
We record counterparty credit risk valuation adjustments on our derivative assets 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 contract, collateral and creditworthiness of the counterparty. The cumulative counterparty credit risk valuation adjustment recorded on our consolidated balance sheets as a reduction in the derivative asset balance was $7 million and $9 million as of December 31, 2013 and 2012, respectively. We also adjust the fair value of our derivative liabilities to reflect the impact of our credit quality. We calculate this adjustment by comparing the spreads on our credit default swaps to the discount benchmark curve. The cumulative credit risk valuation adjustment related to our credit quality recorded on our consolidated balance sheets as a reduction in the derivative liability balance was $6 million and $1 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||
During the second quarter of 2013, it became mandatory for Capital One to clear certain categories of derivative transactions through a central clearinghouse. We anticipate our cleared derivatives notional and margin amounts outstanding to grow in the future and expect our bilateral over-the-counter (“OTC”) derivatives portfolio to shrink as additional categories of derivatives are mandated for clearing by the Commodity Futures Trading Commission (“CFTC”). As a result, over time, our counterparty credit risk is expected to shift from our bilateral counterparties and consolidate at central clearinghouses. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Stockholders' Equity | ' | ||||||||||||||||||||||||||||||||||||
NOTE 11—STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||||||||||
The following table presents the components of accumulated other comprehensive income as of December 31, 2013, 2012 and 2011, as well as the current period activity related to our other comprehensive income. AOCI is presented net of deferred tax of $544 million and $443 million, as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
Table 11.1: Accumulated Other Comprehensive Income | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Securities | Securities | Cash Flow | Foreign | Other | Total | |||||||||||||||||||||||||||||||
Available | Held to | Hedges | Currency | ||||||||||||||||||||||||||||||||||
for Sale | Maturity(1) | Translation | |||||||||||||||||||||||||||||||||||
Adjustments | |||||||||||||||||||||||||||||||||||||
AOCI as of December 31, 2010 | $ | 382 | $ | 0 | $ | (52 | ) | $ | (36 | ) | $ | (46 | ) | $ | 248 | ||||||||||||||||||||||
Net other comprehensive income (loss) | (78 | ) | 0 | 26 | (13 | ) | (14 | ) | (79 | ) | |||||||||||||||||||||||||||
AOCI as of December 31, 2011 | 304 | 0 | (26 | ) | (49 | ) | (60 | ) | 169 | ||||||||||||||||||||||||||||
Net other comprehensive income (loss) | 399 | 0 | 71 | 81 | 19 | 570 | |||||||||||||||||||||||||||||||
AOCI as of December 31, 2012 | 703 | 0 | 45 | 32 | (41 | ) | 739 | ||||||||||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications | (619 | ) | (915 | ) | (124 | ) | 8 | 18 | (1,632 | ) | |||||||||||||||||||||||||||
Net realized (gains) losses reclassified from AOCI into earnings | 22 | 18 | (31 | ) | 0 | 12 | 21 | ||||||||||||||||||||||||||||||
Net other comprehensive income (loss) | (597 | ) | (897 | ) | (155 | ) | 8 | 30 | (1,611 | ) | |||||||||||||||||||||||||||
AOCI as of December 31, 2013 | $ | 106 | $ | (897 | ) | $ | (110 | ) | $ | 40 | $ | (11 | ) | $ | (872 | ) | |||||||||||||||||||||
-1 | The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value. | ||||||||||||||||||||||||||||||||||||
Table 11.2: Reclassifications from AOCI | |||||||||||||||||||||||||||||||||||||
Amount Reclassified | |||||||||||||||||||||||||||||||||||||
from AOCI | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Year Ended | Affected Income Statement Line Item | |||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities available for sale: | |||||||||||||||||||||||||||||||||||||
Sale of available for sale securities | $ | (34 | ) | Other—Non-interest income | |||||||||||||||||||||||||||||||||
(12 | ) | Income tax provision | |||||||||||||||||||||||||||||||||||
(22 | ) | Net income | |||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities held to maturity(1): | |||||||||||||||||||||||||||||||||||||
Held to maturity securities | (29 | ) | Other—Non-interest income | ||||||||||||||||||||||||||||||||||
(11 | ) | Income tax provision | |||||||||||||||||||||||||||||||||||
(18 | ) | Net income | |||||||||||||||||||||||||||||||||||
Net unrealized gains on cash flow hedges: | |||||||||||||||||||||||||||||||||||||
Interest rate contracts | 86 | Other—Interest income or interest expense | |||||||||||||||||||||||||||||||||||
Foreign exchange contracts | (35 | ) | Other—Non-interest expense | ||||||||||||||||||||||||||||||||||
51 | |||||||||||||||||||||||||||||||||||||
20 | Income tax provision | ||||||||||||||||||||||||||||||||||||
31 | Net income | ||||||||||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other | (13 | ) | Various | ||||||||||||||||||||||||||||||||||
(1 | ) | Income tax provision | |||||||||||||||||||||||||||||||||||
(12 | ) | Net income | |||||||||||||||||||||||||||||||||||
Total reclassifications | $ | (21 | ) | ||||||||||||||||||||||||||||||||||
-1 | The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value. | ||||||||||||||||||||||||||||||||||||
The table below summarizes other comprehensive income activity and the related tax impact for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||||||
Table 11.3: Comprehensive Income | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Before | Provision | After | Before | Provision | After | Before | Provision | After | ||||||||||||||||||||||||||||
Tax | (Benefit) | Tax | Tax | (Benefit) | Tax | Tax | (Benefit) | Tax | |||||||||||||||||||||||||||||
Other comprehensive income: | |||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities available for sale | $ | (961 | ) | $ | (364 | ) | $ | (597 | ) | $ | 673 | $ | 256 | $ | 417 | $ | (119 | ) | $ | (41 | ) | $ | (78 | ) | |||||||||||||
Net unrealized gains (losses) on securities transferred to held to maturity | (1,435 | ) | (538 | ) | (897 | ) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedges | (250 | ) | (95 | ) | (155 | ) | 120 | 47 | 73 | 44 | 18 | 26 | |||||||||||||||||||||||||
Foreign currency translation adjustments | 8 | 0 | 8 | 81 | 0 | 81 | (13 | ) | 0 | (13 | ) | ||||||||||||||||||||||||||
Other | 49 | 19 | 30 | (1 | ) | 0 | (1 | ) | (21 | ) | (7 | ) | (14 | ) | |||||||||||||||||||||||
Other comprehensive income (loss) | $ | (2,589 | ) | $ | (978 | ) | $ | (1,611 | ) | $ | 873 | $ | 303 | $ | 570 | $ | (109 | ) | $ | (30 | ) | $ | (79 | ) | |||||||||||||
Regulatory_and_Capital_Adequac
Regulatory and Capital Adequacy | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Regulatory and Capital Adequacy | ' | ||||||||||||||||||||||||
NOTE 12—REGULATORY AND CAPITAL ADEQUACY | |||||||||||||||||||||||||
Regulation and Capital Adequacy | |||||||||||||||||||||||||
Bank holding companies and national banks are subject to capital adequacy standards adopted by the Federal Reserve and the OCC, respectively. The capital adequacy standards set forth minimum risk-based and leverage capital requirements that are based on quantitative and qualitative measures of their assets and off-balance sheet items. Under the capital adequacy standards, bank holding companies and banks currently are required to maintain a total risk-based capital ratio of at least 8%, a Tier 1 risk-based capital ratio of at least 4%, and a Tier 1 leverage capital ratio of at least 4% (3% for banks that meet certain specified criteria, including excellent asset quality, high liquidity, low interest rate exposure and the highest regulatory rating) in order to be considered adequately capitalized. | |||||||||||||||||||||||||
National banks also are subject to prompt corrective action capital regulations. Under prompt corrective action regulations, a bank is considered to be well capitalized if it maintains a Tier 1 risk-based capital ratio of at least 6% (200 basis points higher than the above minimum capital standard), a total risk-based capital ratio of at least 10% (200 basis points higher than the above minimum capital standard), a Tier 1 leverage capital ratio of at least 5% and is not subject to any supervisory agreement, order or directive to meet and maintain a specific capital level for any capital reserve. A bank is considered to be adequately capitalized if it meets these minimum capital ratios and does not otherwise meet the well capitalized definition. Currently, prompt corrective action capital requirements do not apply to bank holding companies. | |||||||||||||||||||||||||
We also disclose a Tier 1 common ratio for our bank holding company. There is currently no mandated minimum or “well capitalized” standard for Tier 1 common; instead the risk-based capital rules state that voting common stockholders’ equity should be the dominant element within Tier 1 common capital. While this regulatory capital measure is widely used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies, it may not be comparable to similarly titled measures reported by other companies. We are also subject to minimum cash reserve requirements by the Federal Reserve totaling approximately $1.5 billion as of December 31, 2013. | |||||||||||||||||||||||||
The table below provides a comparison of our capital ratios under the Federal Reserve’s capital adequacy standards and the capital ratios of the Banks under the OCC’s capital adequacy standards as of December 31, 2013 and 2012. As of December 31, 2013 and 2012, we exceeded minimum capital requirements and would meet the “well-capitalized” ratio levels specified under prompt corrective action for total risk-based capital and Tier 1 risk-based capital under Federal Reserve standards for bank holding companies. As of December 31, 2013, the Banks also exceeded minimum regulatory requirements under the OCC’s applicable capital adequacy guidelines and were “well-capitalized” under prompt corrective action requirements. | |||||||||||||||||||||||||
Table 12.1: Capital Ratios Under Basel I(1) | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Capital | Minimum | Well | Capital | Minimum | Well | ||||||||||||||||||||
Ratio | Capital | Capitalized | Ratio | Capital | Capitalized | ||||||||||||||||||||
Adequacy | Adequacy | ||||||||||||||||||||||||
Capital One Financial Corp: | |||||||||||||||||||||||||
Tier 1 common capital(2) | 12.23 | % | N/A | N/A | 10.96 | % | N/A | N/A | |||||||||||||||||
Tier 1 risk-based capital(3) | 12.61 | 4 | % | 6 | % | 11.34 | 4 | % | 6 | % | |||||||||||||||
Total risk-based capital(4) | 14.73 | 8 | 10 | 13.56 | 8 | 10 | |||||||||||||||||||
Tier 1 leverage(5) | 10.1 | 4 | N/A | 8.66 | 4 | N/A | |||||||||||||||||||
Capital One Bank (USA) N.A. | |||||||||||||||||||||||||
Tier 1 risk-based capital(3) | 11.52 | % | 4 | % | 6 | % | 11.32 | % | 4 | % | 6 | % | |||||||||||||
Total risk-based capital(4) | 14.95 | 8 | 10 | 14.74 | 8 | 10 | |||||||||||||||||||
Tier 1 leverage(5) | 10.26 | 4 | 5 | 10.43 | 4 | 5 | |||||||||||||||||||
Capital One, N.A. | |||||||||||||||||||||||||
Tier 1 risk-based capital(3) | 12.73 | % | 4 | % | 6 | % | 13.59 | % | 4 | % | 6 | % | |||||||||||||
Total risk-based capital(4) | 13.82 | 8 | 10 | 14.85 | 8 | 10 | |||||||||||||||||||
Tier 1 leverage(5) | 9 | 4 | 5 | 9.15 | 4 | 5 | |||||||||||||||||||
-1 | Calculated under capital standards and regulations based on the international capital framework commonly known as Basel I. Capital ratios that are not applicable are denoted by “N/A.” | ||||||||||||||||||||||||
-2 | Tier 1 common ratio is a regulatory capital measure calculated based on Tier 1 common capital divided by risk-weighted assets. | ||||||||||||||||||||||||
-3 | Tier 1 risk-based capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets. | ||||||||||||||||||||||||
(4) | Total risk-based capital ratio is a regulatory capital measure calculated based on total risk-based capital divided by risk-weighted assets. | ||||||||||||||||||||||||
-5 | Tier 1 leverage ratio is calculated based on Tier 1 capital divided by quarterly average total assets, after certain adjustments. | ||||||||||||||||||||||||
Regulatory restrictions exist that limit the ability of the Banks to transfer funds to our bank holding company. Funds available for dividend payments from COBNA and CONA were $2.3 billion and $127 million, respectively, as of December 31, 2013. Applicable provisions that may be contained in our borrowing agreements or the borrowing agreements of our subsidiaries may limit our subsidiaries’ ability to pay dividends to us or our ability to pay dividends to our stockholders. There can be no assurance that we will declare and pay any dividends. |
Earnings_Per_Common_Share
Earnings Per Common Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Common Share | ' | ||||||||||||
NOTE 13—EARNINGS PER COMMON SHARE | |||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||||||
Table 13.1: Computation of Basic and Diluted Earnings per Common Share | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars and shares in millions, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Basic earnings per share | |||||||||||||
Income from continuing operations, net of tax | $ | 4,392 | $ | 3,734 | $ | 3,253 | |||||||
Loss from discontinued operations, net of tax | (233 | ) | (217 | ) | (106 | ) | |||||||
Net income | 4,159 | 3,517 | 3,147 | ||||||||||
Dividends and undistributed earnings allocated to participating securities(1) | (17 | ) | (15 | ) | (26 | ) | |||||||
Preferred stock dividends | (53 | ) | (15 | ) | 0 | ||||||||
Net income available to common stockholders | $ | 4,089 | $ | 3,487 | $ | 3,121 | |||||||
Net income from continuing operations | $ | 7.45 | $ | 6.6 | $ | 7.08 | |||||||
Loss from discontinued operations | (0.40 | ) | (0.39 | ) | (0.23 | ) | |||||||
Net income per share | $ | 7.05 | $ | 6.21 | $ | 6.85 | |||||||
Total weighted-average basic shares outstanding | 579.7 | 561.1 | 455.5 | ||||||||||
Year Ended December 31, | |||||||||||||
(Dollars and shares in millions, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Diluted earnings per share(2) | |||||||||||||
Net income available to common stockholders | $ | 4,089 | $ | 3,487 | $ | 3,121 | |||||||
Net income from continuing operations | $ | 7.35 | $ | 6.54 | $ | 7.03 | |||||||
Loss from discontinued operations | (0.39 | ) | (0.38 | ) | (0.23 | ) | |||||||
Net income per share | $ | 6.96 | $ | 6.16 | $ | 6.8 | |||||||
Total weighted-average basic shares outstanding | 579.7 | 561.1 | 455.5 | ||||||||||
Stock options, warrants, contingently issuable shares, and other | 7.9 | 5.4 | 3.6 | ||||||||||
Total weighted-average diluted shares outstanding | 587.6 | 566.5 | 459.1 | ||||||||||
-1 | Includes undistributed earnings allocated to participating securities using the two-class method under the accounting guidance for computing earnings per share. | ||||||||||||
-2 | Excluded from the computation of diluted earnings per share was 5 million, 7 million and 30 million shares related to awards or options, for the years ended December 31, 2013, 2012 and 2011, respectively, because their inclusion would be anti-dilutive. |
Other_NonInterest_Expense
Other Non-Interest Expense | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Other Non-Interest Expense | ' | ||||||||||||
NOTE 14—OTHER NON-INTEREST EXPENSE | |||||||||||||
The following table represents the components of other non-interest expense for 2013, 2012 and 2011: | |||||||||||||
Table 14.1: Components of Other Non-Interest Expense | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Collections | $ | 470 | $ | 544 | $ | 563 | |||||||
Fraud losses | 218 | 190 | 122 | ||||||||||
Bankcard, regulatory, and other fee assessments | 562 | 525 | 394 | ||||||||||
Other | 903 | 1,127 | 722 | ||||||||||
Total | $ | 2,153 | $ | 2,386 | $ | 1,801 | |||||||
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation Plans | ' | ||||||||||||||||
NOTE 15—STOCK-BASED COMPENSATION PLANS | |||||||||||||||||
Stock Plans | |||||||||||||||||
We have one active stock-based compensation plan available for the issuance of shares to employees, directors and third-party service providers. Under the plan, we reserve common shares for issuance in various forms, including incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards and units, and performance share awards and units. | |||||||||||||||||
The following table provides the number of reserved common shares and the number of common shares available for future issuance for our active stock-based compensation plan as of December 31, 2013, 2012 and 2011. | |||||||||||||||||
Table 15.1: Shares Available for Future Issuance | |||||||||||||||||
Available For Issuance | |||||||||||||||||
(In thousands) | Shares | December 31 | |||||||||||||||
Plan Name | Reserved | 2013 | 2012 | 2011 | |||||||||||||
Amended and Restated 2004 Stock Incentive Plan (“2004 Plan”) | 40,000 | 8,590 | 10,897 | 13,286 | |||||||||||||
We issue new shares of common or treasury stock upon the settlement of options and stock-based incentive awards. | |||||||||||||||||
Total compensation expense recognized for stock-based compensation for 2013, 2012 and 2011 was $240 million, $202 million and $189 million, respectively. The total income tax benefit recognized in the consolidated statements of income for stock-based compensation for 2013, 2012 and 2011 was $91 million, $77 million and $66 million, respectively. | |||||||||||||||||
Stock Options | |||||||||||||||||
Generally, the exercise price of stock options will equal the fair market value of our common stock on the date of grant. The maximum contractual term for options is ten years and option vesting is determined at the time of grant. The vesting for options is generally 33 1/3 percent per year beginning on or shortly after the first anniversary of the grant date, however some option grants cliff vest on or shortly after the first or third anniversary of the grant date and in no event will the exercise price of stock options be less than the fair market value of our common stock on the date of grant. In addition, vesting is subject to the achievement of any applicable performance conditions. | |||||||||||||||||
The following table presents a summary of 2013 activity for stock options and the balance of stock options exercisable as of December 31, 2013. | |||||||||||||||||
Table 15.2: Summary of Stock Options Activity | |||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||
Subject to | Average | Average | Intrinsic | ||||||||||||||
Options | Exercise | Remaining | Value | ||||||||||||||
(in thousands) | Price | Contractual | (in millions) | ||||||||||||||
Term | |||||||||||||||||
Outstanding as of January 1, 2013 | 14,259 | $ | 56.14 | ||||||||||||||
Granted | 680 | 56.32 | |||||||||||||||
Exercised | 2,305 | 45.68 | |||||||||||||||
Forfeited | 349 | 80.03 | |||||||||||||||
Expired | 34 | 65.07 | |||||||||||||||
Outstanding as of December 31, 2013 | 12,251 | $ | 57.41 | 4.3 years | $ | 258 | |||||||||||
Exercisable as of December 31, 2013 | 10,096 | $ | 58.98 | 3.6 years | $ | 200 | |||||||||||
The weighted-average fair value of each option granted for 2013, 2012 and 2011 was $13.42, $12.25 and $13.17, respectively. The total intrinsic value of stock options exercised during 2013, 2012 and 2011 was $47 million, $36 million, and $23 million, respectively. The unrecognized compensation expense related to the stock options as of December 31, 2013 was $3 million, which is expected to be amortized over a weighted-average period of 0.7 years. | |||||||||||||||||
The following table sets forth the cash received from the exercise of stock options under all stock-based incentive arrangements, and the actual income tax benefit realized related to tax deductions from the exercise of the stock options. | |||||||||||||||||
Table 15.3: Stock Options Cash Flow Impact | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||
Cash received for options exercised | $ | 105 | $ | 66 | $ | 38 | |||||||||||
Tax benefit realized for options exercised | 18 | 14 | 8 | ||||||||||||||
Compensation expense for stock options is based on the grant date fair value, which is estimated using the Black-Scholes option-pricing model. The option pricing model requires the use of numerous assumptions, many of which are subjective. | |||||||||||||||||
The following table presents the weighted average assumptions used to value stock options granted during 2013, 2012 and 2011. | |||||||||||||||||
Table 15.4: Fair Value of Stock Options Granted | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
Assumptions | 2013 | 2012 | 2011 | ||||||||||||||
Dividend yield(1) | 2.29 | % | 1.7 | % | 2.34 | % | |||||||||||
Volatility(2) | 32 | 35 | 36 | ||||||||||||||
Risk-free interest rate(3) | 1.07 | 0.74 | 2.04 | ||||||||||||||
Expected option lives(4) | 5.6 years | 5.0 years | 5.0 years | ||||||||||||||
(1) | Represents the expected dividend rate over the life of the option. | ||||||||||||||||
(2) | Based on the implied volatility of exchange-traded options. | ||||||||||||||||
(3) | Based on the U.S. Treasury yield curve. | ||||||||||||||||
(4) | Represents the period of time that options granted are expected to remain outstanding and based on historical activities. | ||||||||||||||||
Restricted Stock Awards and Units | |||||||||||||||||
Generally, the value of restricted stock awards and units will equal the fair market value of our common stock on the date of grant. Restricted stock generally vests at 33 1/3 percent per year beginning on or shortly after the first anniversary of the grant date; however, some restricted stock units cliff vest on or shortly after the first anniversary of the grant date. In addition, vesting is subject to the achievement of any applicable performance conditions. | |||||||||||||||||
The following table presents a summary of 2013 activity for restricted stock awards and units. | |||||||||||||||||
Table 15.5: Summary of Restricted Stock Awards | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
(in thousands) | Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
per Share | |||||||||||||||||
Unvested as of January 1, 2013 | 2,409 | $ | 46.09 | ||||||||||||||
Granted | 1,045 | 58.9 | |||||||||||||||
Vested | 1,084 | 43.62 | |||||||||||||||
Forfeited | 182 | 50.41 | |||||||||||||||
Unvested as of December 31, 2013 | 2,188 | $ | 53.07 | ||||||||||||||
The weighted-average grant date fair value of restricted stock in 2013, 2012 and 2011 was $58.90, $46.89 and $47.36, respectively. The total fair value of restricted stock as of the vesting date was $62 million, $107 million and $95 million in 2013, 2012 and 2011, respectively. The unrecognized compensation expense related to unvested restricted stock awards and units as of December 31, 2013 was $54 million, which is expected to be amortized over a weighted-average period of 1.5 years. | |||||||||||||||||
Performance Share Units | |||||||||||||||||
Generally, the value of performance share units will equal the fair market value of our common stock on the date of grant. The performance share unit awards granted in 2013 include an opportunity to receive from 0% to 150% of the target number of common shares, while the performance share unit awards granted in 2012 and 2011 include an opportunity to receive from 0% to 200% of the target number of common shares. The number of performance share units that will ultimately vest is contingent upon meeting specific performance goals over a three-year period. The awards generally vest shortly after the end of the three-year period. | |||||||||||||||||
The following table presents a summary of 2013 activity for performance share units. | |||||||||||||||||
Table 15.6: Summary of Performance Share Units | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
(in thousands) | Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
per Share | |||||||||||||||||
Unvested as of January 1, 2013 | 646 | $ | 45.05 | ||||||||||||||
Granted(1) | 422 | 52.05 | |||||||||||||||
Vested(1) | 180 | 36.55 | |||||||||||||||
Forfeited | 24 | 46.26 | |||||||||||||||
Unvested as of December 31, 2013 | 864 | $ | 50.21 | ||||||||||||||
(1) | Includes adjustments for achievement of specific performance goals for performance share units granted in prior periods. | ||||||||||||||||
The weighted-average grant date fair value of performance share units granted during 2013, 2012 and 2011 was $52.05, $39.07 and $52.10, respectively. The total fair value of performance share units vesting on the vesting date was $10 million, $21 million and $22 million in 2013, 2012 and 2011, respectively. The unrecognized compensation expense related to unvested performance share units as of December 31, 2013 was $13 million, which is expected to be amortized over a weighted-average period of 1.5 years. | |||||||||||||||||
Performance Share Awards | |||||||||||||||||
Generally the value of performance share awards will equal the fair market value of our common stock on the date of grant. Performance share awards were granted for the first time in 2012. The vesting for performance share awards is generally 33 1/3 percent per year beginning on or shortly after the first anniversary of the grant date. The number of performance share awards that will vest each year can be reduced by 50% or 100% depending on whether specific performance goals are met during the three-year service period. | |||||||||||||||||
The following table presents a summary of 2013 activity for performance share awards. | |||||||||||||||||
Table 15.7: Summary of Performance Share Awards | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
(in thousands) | Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
per Share | |||||||||||||||||
Unvested as of January 1, 2013 | 770 | $ | 45.93 | ||||||||||||||
Granted | 686 | 56.32 | |||||||||||||||
Vested | 276 | 46.36 | |||||||||||||||
Forfeited | 41 | 52.07 | |||||||||||||||
Unvested as of December 31, 2013 | 1,139 | $ | 51.87 | ||||||||||||||
The weighted-average grant date fair value of performance share awards granted during 2013 and 2012 was $56.32 and $45.91, respectively. The total fair value of performance share awards vesting on the vesting date was $16 million in 2013. The unrecognized compensation expense related to unvested performance share awards as of December 31, 2013 was $17 million, which is expected to be amortized over a weighted-average period of 0.9 years. | |||||||||||||||||
Cash Equity Units and Cash-Settled Restricted Stock Units | |||||||||||||||||
We also issue cash equity units and cash-settled restricted stock units which are recorded as liabilities as the expense is recognized. Cash equity units and cash-settled restricted stock units are settled with a cash payment for each unit vested equal to the average fair market value of our common stock for the 20 trading days preceding the vesting date. Cash equity units and cash-settled restricted stock units are settled in cash and therefore are not counted against the common shares reserved for issuance or available for issuance under the 2004 Plan. Cash equity units and cash-settled restricted stock units generally vest at 33 1/3 percent per year beginning on or shortly after the first anniversary of the grant date; however, some cash-settled restricted stock units cliff vest in December of the year of grant or on or shortly after the third anniversary of the grant date. In addition, vesting is subject to the achievement of any applicable performance conditions. | |||||||||||||||||
Cash equity units and cash-settled restricted stock units vesting during 2013, 2012 and 2011 resulted in cash payments to associates of $74 million, $88 million, and $81 million, respectively. We expect to recognize the unrecognized compensation cost for unvested cash equity units of $59 million as of December 31, 2013, based on the closing price of our common stock as of that date, over a weighted-average period of 1.4 years. | |||||||||||||||||
Associate Stock Purchase Plan | |||||||||||||||||
We maintain an Associate Stock Purchase Plan (the “Purchase Plan”) which is a compensatory plan under the accounting guidance for stock-based compensation. We recognized $11 million, $8 million and $6 million in compensation expense for 2013, 2012 and 2011, respectively under the Purchase Plan. | |||||||||||||||||
Under the Purchase Plan, our associates are eligible to contribute between 1% and 15% of their base salary through payroll deductions. The amounts contributed are applied to the purchase of our unissued common or treasury stock at 85% of the current market price. Shares may also be acquired on the open market. In 2012, shareholders authorized an additional 10.0 million shares to be added to the previously authorized total of 8.0 million shares available for issuance under the Purchase Plan. Of the total authorized shares of 18.0 million as of December 31, 2013, 9.4 million shares were available for issuance on December 31, 2013. Of the total authorized shares of 18.0 million as of December 31, 2012, 10.7 million shares were available for issuance as of December 31, 2012. | |||||||||||||||||
Dividend Reinvestment and Stock Purchase Plan | |||||||||||||||||
In 2002, we implemented our Dividend Reinvestment and Stock Purchase Plan (“2002 DRP”), which allows participating stockholders to purchase additional shares of our common stock through automatic reinvestment of dividends or optional cash investments. We had 7.4 million shares available for issuance under the 2002 DRP at December 31, 2013 and 2012. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||
NOTE 16—EMPLOYEE BENEFIT PLANS | |||||||||||||||||
Defined Contribution Plan | |||||||||||||||||
We sponsor a contributory Associate Savings Plan (the “Plan”) in which all full-time and part-time associates over the age of 18 are eligible to participate. We make non-elective contributions to each eligible associate’s account and match a portion of associate contributions. | |||||||||||||||||
We also sponsor a voluntary non-qualified deferred compensation plan in which select groups of employees are eligible to participate. We make contributions to this plan based on participants’ deferral of salary, bonuses and other eligible pay. In addition, we match participants’ excess compensation (compensation over the Internal Revenue Service compensation limit) less deferrals. We contributed a total of $206 million, $167 million and $151 million to these plans during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
Defined Benefit Pension and Other Postretirement Benefit Plans | |||||||||||||||||
We sponsor defined benefit pension plans and other postretirement benefit plans. Pension plans include a legacy frozen cash balance plan and plans assumed in the North Fork acquisition, including two qualified defined benefit pension plans and several non-qualified defined benefit pension plans. Our legacy pension plan and the two qualified pension plans from the North Fork acquisition were merged into a single plan effective December 31, 2007. Other postretirement benefit plans, including a legacy plan and plans assumed in the Hibernia and North Fork acquisitions, all of which provide medical and life insurance benefits, were merged into a single plan effective January 1, 2008. Certain HSBC associates became eligible for postretirement benefits under our legacy postretirement benefit plans effective May 1, 2012. | |||||||||||||||||
Our pension plans and the other postretirement benefit plans are valued using December 31, 2013 and 2012 measurement dates. Our policy is to amortize prior service amounts on a straight-line basis over the average remaining years of service to full eligibility for benefits of active plan participants. | |||||||||||||||||
The following table sets forth, on an aggregated basis, changes in the benefit obligation and plan assets, the funded status and how the funded status is recognized in our consolidated balance sheets, and the components of the net periodic benefit cost recognized in our consolidated statements of income: | |||||||||||||||||
Table 16.1: Changes in Benefit Obligation and Plan Assets | |||||||||||||||||
At or For the Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Dollars in millions) | Defined Pension Benefits | Other Postretirement Benefits | |||||||||||||||
Change in benefit obligation: | |||||||||||||||||
Benefit obligation as of beginning of year | $ | 207 | $ | 198 | $ | 67 | $ | 67 | |||||||||
Service cost | 1 | 1 | 0 | 0 | |||||||||||||
Interest cost | 7 | 8 | 2 | 3 | |||||||||||||
Plan amendments(1) | 0 | 0 | 0 | 3 | |||||||||||||
Benefits paid | (17 | ) | (18 | ) | (4 | ) | (4 | ) | |||||||||
Net actuarial loss (gain) | (13 | ) | 18 | (12 | ) | (2 | ) | ||||||||||
Benefit obligation as of end of year | $ | 185 | $ | 207 | $ | 53 | $ | 67 | |||||||||
Change in plan assets: | |||||||||||||||||
Fair value of plan assets as of beginning of year | $ | 224 | $ | 214 | $ | 7 | $ | 7 | |||||||||
Actual return on plan assets | 22 | 27 | 1 | 1 | |||||||||||||
Employer contributions | 1 | 1 | 3 | 3 | |||||||||||||
Benefits paid | (17 | ) | (18 | ) | (4 | ) | (4 | ) | |||||||||
Fair value of plan assets as of end of year | $ | 230 | $ | 224 | $ | 7 | $ | 7 | |||||||||
Over (under) funded status as of end of year | $ | 45 | $ | 17 | $ | (46 | ) | $ | (60 | ) | |||||||
Balance sheet presentation: | |||||||||||||||||
Other assets | $ | 56 | $ | 30 | $ | 0 | $ | 0 | |||||||||
Other liabilities | (11 | ) | (13 | ) | (46 | ) | (60 | ) | |||||||||
Net amount recognized as of end of year | $ | 45 | $ | 17 | $ | (46 | ) | $ | (60 | ) | |||||||
Accumulated benefit obligation at end of year | $ | 185 | $ | 207 | $ | 0 | $ | 0 | |||||||||
Components of net periodic benefit cost: | |||||||||||||||||
Service cost | $ | 1 | $ | 1 | $ | 0 | $ | 0 | |||||||||
Interest cost | 7 | 8 | 2 | 3 | |||||||||||||
Expected return on plan assets | (14 | ) | (13 | ) | 0 | (1 | ) | ||||||||||
Amortization of transition obligation, prior service credit, and net actuarial loss (gain) | 2 | 2 | (3 | ) | (3 | ) | |||||||||||
Net periodic benefit gain | $ | (4 | ) | $ | (2 | ) | $ | (1 | ) | $ | (1 | ) | |||||
Changes recognized in other comprehensive income, pretax: | |||||||||||||||||
Net actuarial gain (loss) | $ | 22 | $ | (4 | ) | $ | 13 | $ | 2 | ||||||||
Prior service cost | 0 | 0 | 0 | (3 | ) | ||||||||||||
Reclassification adjustments for amounts recognized in net periodic benefit cost | 2 | 2 | (3 | ) | (3 | ) | |||||||||||
Total gain (loss) recognized in other comprehensive income | $ | 24 | $ | (2 | ) | $ | 10 | $ | (4 | ) | |||||||
-1 | The other post retirement benefit plan was amended during 2012 to allow for participation by certain HSBC associates. | ||||||||||||||||
Pre-tax amounts recognized in accumulated other comprehensive income that have not yet been recognized as a component of net periodic benefit cost consist of the following: | |||||||||||||||||
Table 16.2 Amounts Recognized in OCI | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Dollars in millions) | Defined Pension Benefits | Other Postretirement Benefits | |||||||||||||||
Prior service credit | $ | 0 | $ | 0 | $ | (1 | ) | $ | 2 | ||||||||
Net actuarial gain (loss) | (52 | ) | (76 | ) | 14 | 2 | |||||||||||
Accumulated other comprehensive (loss) income | $ | (52 | ) | $ | (76 | ) | $ | 13 | $ | 4 | |||||||
Pre-tax amounts recorded in accumulated other comprehensive income as of December 31, 2013 that are expected to be recognized as a component of our net periodic benefit cost in 2014 consist of the following: | |||||||||||||||||
(Dollars in millions) | Defined | Other | |||||||||||||||
Pension | Postretirement | ||||||||||||||||
Benefits | Benefits | ||||||||||||||||
Prior service credit | $ | 0 | $ | 1 | |||||||||||||
Net actuarial gain (loss) | (1 | ) | 2 | ||||||||||||||
Net gain (loss) | $ | (1 | ) | $ | 3 | ||||||||||||
The following table presents weighted-average assumptions used in the accounting for the plans: | |||||||||||||||||
Table 16.3 Assumptions Used in the Accounting for the Plans | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Defined Pension Benefits | Other Postretirement Benefits | ||||||||||||||||
Assumptions for benefit obligations at measurement date: | |||||||||||||||||
Discount rate | 4.6 | % | 3.7 | % | 4.6 | % | 3.7 | % | |||||||||
Rate of compensation increase | n/a | n/a | n/a | n/a | |||||||||||||
Assumptions for periodic benefit cost for the year ended: | |||||||||||||||||
Discount rate | 3.7 | % | 4.5 | % | 3.7 | % | 4.5 | % | |||||||||
Expected long-term rate of return on plan assets | 6.5 | % | 6.5 | % | 6.5 | % | 6.5 | % | |||||||||
Rate of compensation increase | n/a | n/a | n/a | n/a | |||||||||||||
Assumptions for year-end valuations: | |||||||||||||||||
Health care cost trend rate assumed for next year: | |||||||||||||||||
Pre-age 65 | n/a | n/a | 7.5 | % | 7.7 | % | |||||||||||
Post-age 65 | n/a | n/a | 7.7 | % | 8 | % | |||||||||||
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | n/a | n/a | 4.5 | % | 4.5 | % | |||||||||||
Year the rate reaches the ultimate trend rate | n/a | n/a | 2028 | 2028 | |||||||||||||
To develop the expected long-term rate of return on plan assets assumption, consideration was given to the current level of expected returns on risk-free investments (primarily government bonds), the historical level of the risk premium associated with the other asset classes in which the portfolio is invested and the expectations for future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on the plan assets assumption for the portfolio. | |||||||||||||||||
Assumed health care trend rates have a significant effect on the amounts reported for the other postretirement benefit plans. A one-percentage point change in assumed health care cost trend rates would have the following effects: | |||||||||||||||||
Table 16.4 Sensitivity Analysis | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||||||
1% Increase | 1% Decrease | 1% Increase | 1% Decrease | ||||||||||||||
Effect on year-end postretirement benefit obligation | $ | 6 | $ | (5 | ) | $ | 7 | $ | (6 | ) | |||||||
Effect on total service and interest cost components | 0 | 0 | (1 | ) | 0 | ||||||||||||
Plan Assets | |||||||||||||||||
The qualified defined benefit pension plan asset allocations as of the annual measurement dates are as follows: | |||||||||||||||||
Table 16.5 Plan Assets | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Common collective trusts(1) | 63 | % | 59 | % | |||||||||||||
Money market fund | 0 | 1 | |||||||||||||||
Corporate bonds (S&P rating of A or higher) | 6 | 6 | |||||||||||||||
Corporate bonds (S&P rating of lower than A) | 10 | 11 | |||||||||||||||
Government securities | 14 | 17 | |||||||||||||||
Mortgage backed securities | 6 | 6 | |||||||||||||||
Municipal bonds | 1 | 0 | |||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||
-1 | Common collective trusts include domestic and international equity securities. | ||||||||||||||||
Plan assets are invested using a total return investment approach whereby a mix of equity securities and debt securities are used to preserve asset values, diversify risk and enhance our ability to achieve our long-term investment return benchmark. | |||||||||||||||||
Investment strategies and asset allocations are based on careful consideration of plan liabilities, the plan’s funded status and our financial condition. Investment performance and asset allocation are measured and monitored on a quarterly basis. | |||||||||||||||||
Plan assets are managed in a balanced portfolio comprised of three major components: a domestic equity portion, an international equity portion and a domestic fixed income portion. The expected role of plan equity investments is to maximize the long-term real growth of fund assets, while the role of fixed income investments is to generate current income, provide for more stable periodic returns and provide some protection against a prolonged decline in the market value of fund equity investments. | |||||||||||||||||
The investment guidelines provide the following asset allocation targets and ranges: domestic equity target of 39% and allowable range of 34% to 44%, international equity target of 16% and allowable range of 11% to 21%, fixed income securities target of 45% and allowable range of 35% to 55%. | |||||||||||||||||
Fair Value Measurement | |||||||||||||||||
For information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy and the valuation methods we utilize, see “Note 1—Summary of Significant Accounting Policies” and “Note 18—Fair Value of Financial Instruments.” | |||||||||||||||||
Table 16.6 Plan Assets Measured at Fair Value on a Recurring Basis | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Fair Value Measurements Using | Assets | ||||||||||||||||
at Fair | |||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Value | |||||||||||||
Plan Assets | |||||||||||||||||
Common collective trusts | $ | 0 | $ | 150 | $ | 0 | $ | 150 | |||||||||
Money market fund | 0 | 0 | 0 | 0 | |||||||||||||
Corporate bonds (S&P rating of A or higher) | 0 | 15 | 0 | 15 | |||||||||||||
Corporate bonds (S&P rating of lower than A) | 0 | 24 | 0 | 24 | |||||||||||||
Government securities | 0 | 33 | 0 | 33 | |||||||||||||
Mortgage-backed securities | 0 | 14 | 0 | 14 | |||||||||||||
Municipal bonds | 0 | 1 | 0 | 1 | |||||||||||||
Total | $ | 0 | $ | 237 | $ | 0 | $ | 237 | |||||||||
31-Dec-12 | |||||||||||||||||
Fair Value Measurements Using | Assets | ||||||||||||||||
at Fair | |||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Value | |||||||||||||
Plan Assets | |||||||||||||||||
Common collective trusts | $ | 0 | $ | 136 | $ | 0 | $ | 136 | |||||||||
Money market fund | 0 | 1 | 0 | 1 | |||||||||||||
Corporate bonds (S&P rating of A or higher) | 0 | 14 | 0 | 14 | |||||||||||||
Corporate bonds (S&P rating of lower than A) | 0 | 26 | 0 | 26 | |||||||||||||
Government securities | 0 | 39 | 0 | 39 | |||||||||||||
Mortgage-backed securities | 0 | 14 | 0 | 14 | |||||||||||||
Municipal bonds | 0 | 1 | 0 | 1 | |||||||||||||
Total | $ | 0 | $ | 231 | $ | 0 | $ | 231 | |||||||||
Expected future benefit payments | |||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: | |||||||||||||||||
Table 16.7 Expected Future Benefits Payments | |||||||||||||||||
(Dollars in millions) | Pension | Postretirement | |||||||||||||||
Benefits | Benefits | ||||||||||||||||
2014 | $ | 12 | $ | 2 | |||||||||||||
2015 | 12 | 4 | |||||||||||||||
2016 | 12 | 4 | |||||||||||||||
2017 | 11 | 4 | |||||||||||||||
2018 | 11 | 4 | |||||||||||||||
2019 - 2023 | 56 | 17 | |||||||||||||||
In 2014, $1 million in contributions are expected to be made to the pension plans and $2 million in contributions are expected to be made to other postretirement benefits plans. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 17—INCOME TAXES | |||||||||||||
We account for income taxes in accordance with the accounting guidance prescribed by the FASB, recognizing the current and deferred tax consequences of all transactions that have been recognized in the consolidated financial statements using the provisions of enacted tax laws. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Valuation allowances are recorded to reduce deferred tax assets to an amount that is more likely than not to be realized. | |||||||||||||
Table 17.1: Significant Components of the Provision for Income Taxes Attributable to Continuing Operations | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Current income tax provision: | |||||||||||||
Federal taxes | $ | 1,360 | $ | 1,401 | $ | 721 | |||||||
State taxes | 194 | 154 | 89 | ||||||||||
International taxes | 115 | 44 | 33 | ||||||||||
Total current provision (benefit) | $ | 1,669 | $ | 1,599 | $ | 843 | |||||||
Deferred income tax provision: | |||||||||||||
Federal taxes | $ | 305 | $ | (232 | ) | $ | 594 | ||||||
State taxes | 47 | (84 | ) | (88 | ) | ||||||||
International taxes | 4 | 18 | (15 | ) | |||||||||
Total deferred provision (benefit) | $ | 356 | $ | (298 | ) | $ | 491 | ||||||
Total income tax provision | $ | 2,025 | $ | 1,301 | $ | 1,334 | |||||||
The international income tax provision is related to pre-tax earnings from foreign operations of approximately $459 million in 2013, $296 million in 2012, and $28 million in 2011. | |||||||||||||
Income tax benefits of $1 million, $620 million and $3 million in 2013, 2012 and 2011, respectively, were allocated directly to reduce goodwill from acquisitions. | |||||||||||||
Table 17.2: Income Tax Provision (Benefit) Reported in Stockholders’ Equity | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Foreign currency translation gains (losses) | $ | 5 | $ | 3 | $ | (1 | ) | ||||||
Net unrealized gains (losses) on securities available for sale | (364 | ) | 256 | (41 | ) | ||||||||
Net unrealized gains (losses) on securities transfered to held to maturity | (538 | ) | 0 | 0 | |||||||||
Net unrealized gains (losses) on cash flow hedge instruments | (95 | ) | 47 | 18 | |||||||||
Employee stock plans | (10 | ) | 15 | (19 | ) | ||||||||
Other | 19 | 0 | (7 | ) | |||||||||
Total income tax provision (benefit) | $ | (983 | ) | $ | 321 | $ | (50 | ) | |||||
Table 17.3: Effective Income Tax Rate | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Income tax at U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
State taxes, net of federal benefit | 2.1 | 1.9 | 1.4 | ||||||||||
Resolution of federal income tax issues and audits | 0 | (0.2 | ) | (1.1 | ) | ||||||||
Low-income housing, New Markets, and other tax credits | (4.7 | ) | (5.0 | ) | (4.3 | ) | |||||||
Other foreign tax differences, net | (0.6 | ) | (0.7 | ) | (0.1 | ) | |||||||
Nontaxable bargain purchase gain | 0 | (4.1 | ) | 0 | |||||||||
Other, net | (0.2 | ) | (1.1 | ) | (1.8 | ) | |||||||
Income tax effective tax rate | 31.6 | % | 25.8 | % | 29.1 | % | |||||||
During 2013, 2012 and 2011, our income tax expense was reduced by $3 million, $7 million and $50 million, respectively, due to the resolution of certain tax issues and audits for prior years with the Internal Revenue Service (“IRS”). This reduction represented the release of previous accruals for potential audit and litigation adjustments which were subsequently settled or eliminated and further refinement of existing tax exposures. | |||||||||||||
Table 17.4: Significant Components of Deferred Tax Assets and Liabilities | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan and lease losses | $ | 1,583 | $ | 1,876 | |||||||||
Security and loan valuations | 1,296 | 502 | |||||||||||
Rewards programs | 855 | 755 | |||||||||||
Representation and warranty reserve | 444 | 343 | |||||||||||
Deferred compensation and employee benefits | 304 | 350 | |||||||||||
Net operating loss and tax credit carryforwards | 248 | 362 | |||||||||||
Net unrealized losses on derivatives | 167 | 77 | |||||||||||
Unearned income | 87 | 116 | |||||||||||
Other assets | 259 | 293 | |||||||||||
Other foreign deferred taxes | 7 | 22 | |||||||||||
Subtotal | 5,250 | 4,696 | |||||||||||
Valuation allowance | (139 | ) | (123 | ) | |||||||||
Total deferred tax assets | 5,111 | 4,573 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Original issue discount | 893 | 958 | |||||||||||
Fixed assets and leases | 173 | 184 | |||||||||||
Goodwill and other intangibles | 10 | 237 | |||||||||||
Other liabilities | 369 | 256 | |||||||||||
Total deferred tax liabilities | 1,445 | 1,635 | |||||||||||
Net deferred tax assets | $ | 3,666 | $ | 2,938 | |||||||||
As of the end of December 31, 2013, we had federal net operating loss carry-forwards and losses of $252 million attributable to ING Direct that expire from 2018 to 2032. Under IRS rules, the Company’s ability to utilize these losses against future income is limited to $317 million per year. We have state operating loss carryforwards with a net tax value of $144 million that expire from 2014 to 2033. We have a foreign tax credit carryforward of $16 million that expires in 2019. | |||||||||||||
The valuation allowance was increased by $16 million to adjust the tax benefit of certain state deferred tax assets and net operating loss carryforwards to the amount we have determined is more likely than not to be realized. | |||||||||||||
The deferred tax liability for original issue discount represents interchange, late fees, cash advance fees and over-limit fees. These items are generally treated as original issue discount (“OID”) for tax purposes and recognized over the life of the related credit card receivables. These items are recognized in the our consolidated statements of income as income in the year earned. For income statement purposes, late fees are reported as interest income, and interchange, cash advance fees and overlimit fees are reported as non-interest income. | |||||||||||||
Table 17.5: Deferred Tax Liability Related to Original Issue Discount | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||
Original Issue discount: | |||||||||||||
OID—late fees | $ | 1,024 | $ | 1,225 | |||||||||
OID—all other | 1,402 | 1,377 | |||||||||||
Gross original issue discount | 2,426 | 2,602 | |||||||||||
Net deferred tax liability | $ | 893 | $ | 957 | |||||||||
The accounting guidance for income taxes clarifies the accounting for uncertainty in income taxes, and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also provides rules on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. | |||||||||||||
We recognize accrued interest and penalties related to income taxes as a component of income tax expense. We recognized a $13 million benefit, $3 million expense and $39 million benefit of net interest and penalties for 2013, 2012 and 2011, respectively. The accrued balance of interest and penalties related to unrecognized tax benefits is presented in the table below. | |||||||||||||
Table 17.6: Reconciliation of the Change in Unrecognized Tax Benefits | |||||||||||||
(Dollars in millions) | Gross | Accrued | Gross Tax, | ||||||||||
Unrecognized | Interest and | Interest and | |||||||||||
Tax Benefits | Penalties | Penalties | |||||||||||
Balance as of January 1, 2012 | $ | 213 | $ | 60 | $ | 273 | |||||||
Additions for tax positions related to the current year | 0 | 0 | 0 | ||||||||||
Additions for tax positions related to prior years | 51 | 9 | 60 | ||||||||||
Reductions for tax positions related to prior years due to IRS and other settlements | (56 | ) | (15 | ) | (71 | ) | |||||||
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 | 0 | ||||||||||
Other reductions for tax positions related to prior years | 0 | 0 | 0 | ||||||||||
Balance as of December 31, 2012 | $ | 208 | $ | 54 | $ | 262 | |||||||
Additions for tax positions related to the current year | — | — | — | ||||||||||
Additions for tax positions related to prior years | 15 | 7 | 22 | ||||||||||
Reductions for tax positions related to prior years due to IRS and other settlements | (109 | ) | (22 | ) | (131 | ) | |||||||
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 | 0 | ||||||||||
Other reductions for tax positions related to prior years | 0 | 0 | 0 | ||||||||||
Balance as of December 31, 2013 | $ | 114 | $ | 39 | $ | 153 | |||||||
Portion of balance at December 31, 2013 that, if recognized, would impact the effective income tax rate | $ | 78 | $ | 25 | $ | 103 | |||||||
We are subject to examination by the IRS and other tax authorities in certain countries and states in which we have significant business operations. The tax years subject to examination vary by jurisdiction. During 2013, the IRS completed its review of the Company’s federal income tax refund claims with respect to the tax years 2000 through 2008 and authorized the payment of tax refunds in the aggregate amount of $155 million. The IRS substantially completed the examination of the Company’s federal income tax returns for the tax years 2009 and 2010 during 2013 and chose not to examine the Company’s federal income tax return for the tax year 2011. The Company has been accepted into the IRS Compliance Assurance Process (CAP) for the Company’s federal income tax returns beginning with the 2014 tax year. | |||||||||||||
It is reasonably possible that further adjustments to the Company’s unrecognized tax benefits may be made within twelve months of the reporting date as a result of the above-referenced pending matters. At this time, an estimate of the potential change to the amount of unrecognized tax benefits cannot be made. | |||||||||||||
As of December 31, 2013, U.S. income taxes and foreign withholding taxes have not been provided on approximately $1.3 billion of unremitted earnings of subsidiaries operating outside the U.S., in accordance with the guidance for accounting for income taxes in special areas. These earnings are considered by management to be invested indefinitely. Upon repatriation of these earnings, we could be subject to both U.S. income taxes (subject to possible adjustment for foreign tax credits) and withholding taxes payable to various foreign countries. Determination of the amount of unrecognized deferred U.S. income tax liability and foreign withholding tax on these unremitted earnings is not practicable at this time because such liability is dependent upon circumstances existing if and when remittance occurs. | |||||||||||||
As of December 31, 2013, U.S. income taxes of approximately $109 million have not been provided for approximately $287 million of previously acquired thrift bad debt reserves created for tax purposes as of December 31, 1987. These amounts, acquired as a result of the merger with North Fork Bancorporation, Inc. and the acquisition of CCB, are subject to recapture in the unlikely event that CONA, as successor to North Fork Bank and CCB, makes distributions in excess of earnings and profits, redeems its stock, or liquidates. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||||||||||
NOTE 18—FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||||||||||||||||||||||||||||||
Fair value 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 (also referred to as an exit price). The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. Fair value measurement of a financial asset or liability is assigned to 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 into earnings. We have not made any material fair value option elections as of and for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||||||||||
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 from our trading and investing functions, including our Corporate Valuations Group (“CVG”), Fair Value Committee and Model Validation Group, participate in the review and validation process. The fair valuation governance process is set up in a manner that allows the Chairperson of the Fair Value Committee (“FVC”) to escalate valuation disputes that cannot be resolved at the FVC to a more senior committee called the Valuations Advisory Committee for resolution. The Valuations Advisory Committee (“VAC”) is chaired by the Chief Financial Officer and includes other senior management. The VAC is only convened to review escalated valuation disputes and did not meet during 2013. | |||||||||||||||||||||||||||||||||||||||||||||
The CVG performs periodic independent verification of fair value measurements to determine if assigned fair values are reasonable. For example, in cases where we rely on third party pricing services to obtain fair value measures, we analyze pricing variances among different pricing sources and validate the final price used by comparing the information to additional sources, including dealer pricing indications in transaction results and other internal sources, where necessary. Additional validation procedures performed by the CVG include reviewing (either directly or indirectly through the reasonableness of assigned fair values) valuation inputs and assumptions, and monitoring acceptable variances between recommended prices and validation prices. The CVG and the Trade Analytics and Valuation team perform due diligence reviews of the third party pricing services by comparing their prices with prices from other sources and reviewing other control documentation. Additionally, when necessary, the CVG and Trade Analytics and Valuation Team (“TAV”) challenge prices from third party vendors to ensure reasonableness of prices through a pricing challenge process. This may include a request for a transparency of the assumptions used by the third party. | |||||||||||||||||||||||||||||||||||||||||||||
The FVC, which includes representation from business areas, our Risk Management division and our Finance division, is a forum for discussing fair market valuations, inputs, assumptions, methodologies, variance thresholds, valuation control environment and material risks or concerns related to fair market valuations. Additionally, the FVC is empowered to resolve valuation disputes between the primary valuation providers and the CVG. It provides guidance and oversight to ensure an appropriate valuation control environment. The FVC regularly reviews and approves our valuation methodologies to ensure that our methodologies and practices are consistent with industry standards and adhere to regulatory and accounting guidance. The Chief Financial Officer determines when material issues or concerns regarding valuations shall be raised to the Audit Committee or other delegated committee of the Board of Directors. | |||||||||||||||||||||||||||||||||||||||||||||
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. The Model Validation Group is part of the Model Risk Office and validates all models and provides ongoing monitoring of their performance, including the validation and monitoring of the performance of all valuation models. | |||||||||||||||||||||||||||||||||||||||||||||
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 December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 833 | $ | 0 | $ | 0 | $ | 833 | |||||||||||||||||||||||||||||||||||||
U.S. Agency debt obligations | 0 | 1 | 0 | 1 | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 0 | 307 | 927 | 1,234 | |||||||||||||||||||||||||||||||||||||||||
RMBS | 0 | 23,775 | 1,304 | 25,079 | |||||||||||||||||||||||||||||||||||||||||
CMBS | 0 | 5,267 | 739 | 6,006 | |||||||||||||||||||||||||||||||||||||||||
Other ABS | 0 | 6,793 | 343 | 7,136 | |||||||||||||||||||||||||||||||||||||||||
Other securities | 127 | 1,367 | 17 | 1,511 | |||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | 960 | 37,510 | 3,330 | 41,800 | |||||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 0 | 4 | 69 | 73 | |||||||||||||||||||||||||||||||||||||||||
Derivative assets(1) | 3 | 906 | 50 | 959 | |||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 0 | 0 | 199 | 199 | |||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 963 | $ | 38,420 | $ | 3,648 | $ | 43,031 | |||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities(1) | $ | 4 | $ | 668 | $ | 38 | $ | 710 | |||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 4 | $ | 668 | $ | 38 | $ | 710 | |||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 1,552 | $ | 0 | $ | 0 | $ | 1,552 | |||||||||||||||||||||||||||||||||||||
U.S. Agency debt obligations | 0 | 302 | 0 | 302 | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 0 | 362 | 650 | 1,012 | |||||||||||||||||||||||||||||||||||||||||
RMBS | 0 | 42,538 | 1,335 | 43,873 | |||||||||||||||||||||||||||||||||||||||||
CMBS | 0 | 7,042 | 587 | 7,629 | |||||||||||||||||||||||||||||||||||||||||
Other ABS | 0 | 8,356 | 102 | 8,458 | |||||||||||||||||||||||||||||||||||||||||
Other securities | 145 | 993 | 15 | 1,153 | |||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | 1,697 | 59,593 | 2,689 | 63,979 | |||||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 0 | 0 | 55 | 55 | |||||||||||||||||||||||||||||||||||||||||
Derivative assets(1) | 1 | 1,757 | 90 | 1,848 | |||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 0 | 0 | 204 | 204 | |||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,698 | $ | 61,350 | $ | 3,038 | $ | 66,086 | |||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities(1) | $ | 1 | $ | 361 | $ | 38 | $ | 400 | |||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 1 | $ | 361 | $ | 38 | $ | 400 | |||||||||||||||||||||||||||||||||||||
(1) | Does not reflect $1 million and $9 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of December 31, 2013 and 2012, respectively. Non-performance risk is reflected in other assets/liabilities on the balance sheet and offset through the income statement in other income. | ||||||||||||||||||||||||||||||||||||||||||||
The determination of the classification of financial instruments in Level 2 or Level 3 of 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. Based upon the specific facts and circumstances of each instrument or instrument category, judgments are made regarding the significance of the Level 3 inputs to the instruments’ fair value measurement in its entirety. If Level 3 inputs are considered significant, the instrument is classified as Level 3. The process for determining fair value using unobservable inputs is generally more subjective and involves a high degree of management judgment and assumptions. During 2013 we had minimal movements between Levels 1 and 2. | |||||||||||||||||||||||||||||||||||||||||||||
Level 3 Recurring Fair Value Rollforward | |||||||||||||||||||||||||||||||||||||||||||||
The tables below present a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3). When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.2: Level 3 Recurring Fair Value Rollforward | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Total Gains or (Losses) | Net | ||||||||||||||||||||||||||||||||||||||||||||
(Realized/Unrealized) | Unrealized | ||||||||||||||||||||||||||||||||||||||||||||
Gains | |||||||||||||||||||||||||||||||||||||||||||||
(Losses) | |||||||||||||||||||||||||||||||||||||||||||||
Included | |||||||||||||||||||||||||||||||||||||||||||||
in Net | |||||||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Related to | |||||||||||||||||||||||||||||||||||||||||||||
Assets and | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Still Held as of | |||||||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Balance, | Included | Included in | Purchases | Sales | Issuances | Settlements | Transfers | Transfers | Balance, | 2013(3) | ||||||||||||||||||||||||||||||||||
January 1, | in Net | Other | Into | Out of | December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | Income(1) | Comprehensive | Level 3(2) | Level 3(2) | 2013 | ||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | $ | 650 | $ | 0 | $ | (39 | ) | $ | 272 | $ | 0 | $ | 0 | $ | (67 | ) | $ | 156 | $ | (45 | ) | $ | 927 | $ | 0 | ||||||||||||||||||||
RMBS | 1,335 | (16 | ) | 203 | 287 | 0 | 0 | (239 | ) | 794 | (1,060 | ) | 1,304 | (20 | ) | ||||||||||||||||||||||||||||||
CMBS | 587 | 0 | (57 | ) | 1,085 | (10 | ) | 0 | 11 | 284 | (1,161 | ) | 739 | 0 | |||||||||||||||||||||||||||||||
Other ABS | 102 | (1 | ) | 14 | 279 | (56 | ) | 0 | (2 | ) | 103 | (96 | ) | 343 | (1 | ) | |||||||||||||||||||||||||||||
Other securities | 15 | 0 | 0 | 32 | (23 | ) | 0 | (7 | ) | 1 | (1 | ) | 17 | 0 | |||||||||||||||||||||||||||||||
Total securities available for sale | 2,689 | (17 | ) | 121 | 1,955 | (89 | ) | 0 | (304 | ) | 1,338 | (2,363 | ) | 3,330 | (21 | ) | |||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 55 | 34 | 0 | 0 | 0 | 13 | (7 | ) | 0 | (26 | ) | 69 | 18 | ||||||||||||||||||||||||||||||||
Derivative assets . | 90 | (22 | ) | 0 | 0 | 0 | 10 | (19 | ) | 0 | (9 | ) | 50 | (22 | ) | ||||||||||||||||||||||||||||||
Retained interest in securitizations | 204 | (5 | ) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 199 | (5 | ) | ||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 38 | 14 | 0 | 0 | 0 | 14 | (28 | ) | 1 | (1 | ) | 38 | 14 | ||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Total Gains or (Losses) | Net | ||||||||||||||||||||||||||||||||||||||||||||
(Realized/Unrealized) | Unrealized | ||||||||||||||||||||||||||||||||||||||||||||
Gains | |||||||||||||||||||||||||||||||||||||||||||||
(Losses) | |||||||||||||||||||||||||||||||||||||||||||||
Included | |||||||||||||||||||||||||||||||||||||||||||||
in Net | |||||||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Related to | |||||||||||||||||||||||||||||||||||||||||||||
Assets and | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Still Held as of | |||||||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Balance, | Included | Included in | Purchases | Sales | Issuances | Settlements | Transfers | Transfers | Balance, | 2012(3) | ||||||||||||||||||||||||||||||||||
January 1, | in Net | Other | Into | Out of | December 31, | ||||||||||||||||||||||||||||||||||||||||
2012 | Income(1) | Comprehensive | Level 3(2) | Level 3(2) | 2012 | ||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | $ | 0 | $ | 0 | $ | 6 | $ | 276 | $ | 0 | $ | 0 | $ | (8 | ) | $ | 376 | $ | 0 | $ | 650 | $ | 0 | ||||||||||||||||||||||
RMBS | 195 | (10 | ) | 157 | 2,549 | (640 | ) | 0 | (280 | ) | 630 | (1,266 | ) | 1,335 | (10 | ) | |||||||||||||||||||||||||||||
CMBS | 274 | 5 | 20 | 1,102 | (76 | ) | 0 | (30 | ) | 70 | (778 | ) | 587 | 5 | |||||||||||||||||||||||||||||||
Other ABS | 32 | 0 | 23 | 384 | 0 | 0 | (4 | ) | 261 | (594 | ) | 102 | 0 | ||||||||||||||||||||||||||||||||
Other securities | 12 | 0 | 0 | 0 | 0 | 0 | (5 | ) | 17 | (9 | ) | 15 | 0 | ||||||||||||||||||||||||||||||||
Total securities available for sale | 513 | (5 | ) | 206 | 4,311 | (716 | ) | 0 | (327 | ) | 1,354 | (2,647 | ) | 2,689 | (5 | ) | |||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 93 | (39 | ) | 0 | 0 | 0 | 11 | (10 | ) | 0 | 0 | 55 | (39 | ) | |||||||||||||||||||||||||||||||
Derivative assets | 103 | 58 | 0 | 0 | 0 | 13 | (88 | ) | 13 | (9 | ) | 90 | 58 | ||||||||||||||||||||||||||||||||
Retained interest in securitization | 145 | 59 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 204 | 59 | ||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 279 | 12 | 0 | 0 | 0 | 33 | (274 | ) | (8 | ) | (4 | ) | 38 | 12 | |||||||||||||||||||||||||||||||
(1) | Gains (losses) related to Level 3 mortgage servicing rights and Level 3 derivative assets and derivative liabilities are reported in other non-interest income, which is a component of non-interest income. Gains (losses) related to Level 3 retained interests in securitizations are reported in servicing and securitizations income, which is a component of non-interest income. | ||||||||||||||||||||||||||||||||||||||||||||
(2) | The transfers out of Level 3 for 2013 and 2012 were primarily driven by greater consistency among multiple pricing sources. The transfers into Level 3 were primarily driven by less consistency among vendor pricing on individual securities. | ||||||||||||||||||||||||||||||||||||||||||||
(3) | The amount presented for unrealized gains (loss) for assets still held as of the reporting date primarily represents impairments for securities available for sale, accretion on certain fixed maturity securities, change in fair value of derivative instruments and mortgage servicing rights transaction. The impairments are reported in total other-than-temporary losses as a component of non-interest income. | ||||||||||||||||||||||||||||||||||||||||||||
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 relied upon to determine the fair values of our recurring Level 3 financial instruments. We utilize multiple third party pricing services to obtain fair value measures for our securities. Several of our third party pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other third party pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain for a majority of our securities. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models. | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.3: Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Significant | Significant | Range | Weighted | ||||||||||||||||||||||||||||||||||||||||
Value at | Valuation | Unobservable | Average | ||||||||||||||||||||||||||||||||||||||||||
December 31, | Techniques | Inputs | |||||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
RMBS | $ | 1,304 | Discounted cash flows (3rdparty pricing) | Yield Constant prepayment rate Default rate | 0-23% | 5% | |||||||||||||||||||||||||||||||||||||||
Loss severity | 0-21% | 5% | |||||||||||||||||||||||||||||||||||||||||||
0-18% | 8% | ||||||||||||||||||||||||||||||||||||||||||||
0-95% | 49% | ||||||||||||||||||||||||||||||||||||||||||||
CMBS | $ | 739 | Discounted cash flows (3rdparty pricing) | Yield Constant prepayment rate | 1-4% | 2% | |||||||||||||||||||||||||||||||||||||||
0-20% | 3% | ||||||||||||||||||||||||||||||||||||||||||||
Other ABS | $ | 343 | Discounted cash flows (3rdparty pricing) | Yield Constant prepayment rate Default rate | 1-8% | 3% | |||||||||||||||||||||||||||||||||||||||
Loss severity | 1-6% | 2% | |||||||||||||||||||||||||||||||||||||||||||
1-19% | 12% | ||||||||||||||||||||||||||||||||||||||||||||
44-80% | 69% | ||||||||||||||||||||||||||||||||||||||||||||
U.S. government guaranteed debt and other securities | $ | 944 | Discounted cash flows (3rdparty pricing) | Yield | 0-3% | 2% | |||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | $ | 69 | Discounted cash flows | Total prepayment rate Discount rate Servicing cost ($per loan) | 9.03-32.05% | 14.47% | |||||||||||||||||||||||||||||||||||||||
9.94-17.07% | 10.58% | ||||||||||||||||||||||||||||||||||||||||||||
$81.39-$393.52 | $89.32 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | $ | 50 | Discounted cash flows | Swap rates | 2.99-3.70% | 3.57% | |||||||||||||||||||||||||||||||||||||||
Retained interests in securitization (1) | $ | 199 | N/A | ||||||||||||||||||||||||||||||||||||||||||
Discounted cash flows | Life of receivables (months) Constant prepayment rate Discount rate | 34-101 | |||||||||||||||||||||||||||||||||||||||||||
Default rate | 1.91-7.24% | ||||||||||||||||||||||||||||||||||||||||||||
Loss severity | 4.54-13.57% | ||||||||||||||||||||||||||||||||||||||||||||
1.79-7.07% | |||||||||||||||||||||||||||||||||||||||||||||
14.71-88.69% | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 38 | Discounted cash flows | Swap rates | 3.01-3.67% | 3.57% | |||||||||||||||||||||||||||||||||||||||
(1) | Due to the nature of the various mortgage securitization structures in which we have retained interest, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs. | ||||||||||||||||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Significant | Significant | Range | Weighted | ||||||||||||||||||||||||||||||||||||||||
Value at | Valuation | Unobservable | Average | ||||||||||||||||||||||||||||||||||||||||||
December 31, | Techniques | Inputs | |||||||||||||||||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
RMBS | $ | 1,335 | Discounted cash flows (3rd | Yield | 0-24% | 5% | |||||||||||||||||||||||||||||||||||||||
party pricing) | Constant prepayment rate | 0-26% | 6% | ||||||||||||||||||||||||||||||||||||||||||
Default rate | 0-21% | 9% | |||||||||||||||||||||||||||||||||||||||||||
Loss severity | 4-75% | 52% | |||||||||||||||||||||||||||||||||||||||||||
CMBS | $ | 587 | Discounted cash flows (3rd | Yield | 1-3% | 2% | |||||||||||||||||||||||||||||||||||||||
party pricing) | Constant prepayment rate | 0-15% | 11% | ||||||||||||||||||||||||||||||||||||||||||
Other ABS | $ | 102 | Discounted cash flows (3rd | Yield | 1-24% | 4% | |||||||||||||||||||||||||||||||||||||||
party pricing) | Constant prepayment rate | 0-5% | 2% | ||||||||||||||||||||||||||||||||||||||||||
Default rate | 1-28% | 15% | |||||||||||||||||||||||||||||||||||||||||||
Loss severity | 46-88% | 72% | |||||||||||||||||||||||||||||||||||||||||||
U.S. government guaranteed debt and other securities | $ | 665 | |||||||||||||||||||||||||||||||||||||||||||
Discounted cash flows (3rd | Yield | 1-4% | 2% | ||||||||||||||||||||||||||||||||||||||||||
party pricing) | |||||||||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | $ | 55 | Discounted | Total prepayment rate Discount rate | 11.77-32.99% | 19.37% | |||||||||||||||||||||||||||||||||||||||
cash flows | Servicing cost ($per loan) | 9.95-37.88% | 12.66% | ||||||||||||||||||||||||||||||||||||||||||
$81-$864 | $302 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | $ | 90 | Discounted | Swap rates | 1.82-2.58% | 2.46% | |||||||||||||||||||||||||||||||||||||||
cash flows | |||||||||||||||||||||||||||||||||||||||||||||
Retained interests in securitization(1) | $ | 204 | |||||||||||||||||||||||||||||||||||||||||||
Discounted | Life of receivables (months) | 29-243 | N/A | ||||||||||||||||||||||||||||||||||||||||||
cash flows | Constant prepayment rate Discount rate | 1.25-22.21% | |||||||||||||||||||||||||||||||||||||||||||
2.90-13.57% | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 38 | Discounted cash flows | Swap rates | 1.82-2.55% | 2.42% | |||||||||||||||||||||||||||||||||||||||
-1 | Due to the nature of the various mortgage securitization structures in which we have retained interest, 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 other financial assets at fair value on a nonrecurring basis in the consolidated balance sheets. These financial assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when we evaluate impairment). The following table presents the carrying amount of the assets measured at fair value on a nonrecurring basis and still held as of December 31, 2013 and 2012, the significant valuation techniques and unobservable inputs used in those measurement, and total gain or losses recognized in earnings during the years ended December 31, 2013 and 2012 attributable to the fair value changes relating to these assets: | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.4: Nonrecurring Fair Value Measurements Related to Assets Still Held at Period End | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Estimated | Total | Significant | Significant | Range | Weighted | Gains (Losses) | |||||||||||||||||||||||||||||||||||||||
Fair Value Hierarchy | Valuation | Unobservable | Average | for Year Ended | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Techniques | Inputs | 12/31/13 | |||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale | $ | 0 | $ | 145 | $ | 0 | $ | 145 | N/A | N/A | N/A | N/A | $ | (1 | ) | ||||||||||||||||||||||||||||||
Loans held for investment | 0 | 0 | 84 | 84 | Appraisal | Non-recoverable | 0-42% | 13% | (28 | ) | |||||||||||||||||||||||||||||||||||
Value | rate | ||||||||||||||||||||||||||||||||||||||||||||
Other assets(1) | 0 | 0 | 64 | 64 | Fair value of | Appraisal | N/A | N/A | (23 | ) | |||||||||||||||||||||||||||||||||||
property or | Value | ||||||||||||||||||||||||||||||||||||||||||||
collateral | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0 | $ | 145 | $ | 148 | $ | 293 | $ | (52 | ) | ||||||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||
Estimated | Total | Significant | Significant | Range | Weighted | Gains (Losses) | |||||||||||||||||||||||||||||||||||||||
Fair Value Hierarchy | Valuation | Unobservable | Average | for Year Ended | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Techniques | Inputs | 12/31/12 | |||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale | $ | 0 | $ | 201 | $ | 0 | $ | 201 | N/A | N/A | N/A | N/A | $ | 0 | |||||||||||||||||||||||||||||||
Loans held for investment | 0 | 0 | 162 | 162 | Appraisal | Non-recoverable | 0-100% | 13% | (50 | ) | |||||||||||||||||||||||||||||||||||
Value | rate | ||||||||||||||||||||||||||||||||||||||||||||
Other assets(1) | 0 | 0 | 109 | 109 | Fair value of | Appraisal | N/A | N/A | (31 | ) | |||||||||||||||||||||||||||||||||||
property or | Value | ||||||||||||||||||||||||||||||||||||||||||||
collateral | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0 | $ | 201 | $ | 271 | $ | 472 | $ | (81 | ) | ||||||||||||||||||||||||||||||||||
(1) | Included foreclosed property and repossessed assets of $42 million and long-lived assets held for sale of $22 million as of December 31, 2013. Comparatively, included foreclosed property and repossessed assets of $50 million and long-lived assets held for sale of $59 million as of December 31, 2012. The fair value of these assets is determined based on appraisal value or sales price, the range of which is not meaningful to disclose. | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||||||||||||||
The following reflects the fair value of financial instruments, whether or not recognized on the consolidated balance sheets at fair value, as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.5: Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Estimated Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Carrying | Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 6,291 | $ | 6,291 | $ | 6,291 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Restricted cash for securitization investors | 874 | 874 | 874 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Securities available for sale | 41,800 | 41,800 | 960 | 37,510 | 3,330 | ||||||||||||||||||||||||||||||||||||||||
Securities held to maturity | 19,132 | 19,185 | 0 | 18,895 | 290 | ||||||||||||||||||||||||||||||||||||||||
Net loans held for investment | 192,884 | 198,138 | 0 | 0 | 198,138 | ||||||||||||||||||||||||||||||||||||||||
Loans held for sale | 218 | 219 | 0 | 219 | 0 | ||||||||||||||||||||||||||||||||||||||||
Interest receivable | 1,418 | 1,418 | 0 | 1,418 | 0 | ||||||||||||||||||||||||||||||||||||||||
Consumer and commercial MSRs | 205 | 209 | 0 | 4 | 205 | ||||||||||||||||||||||||||||||||||||||||
Derivative assets | 959 | 959 | 3 | 906 | 50 | ||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 199 | 199 | 0 | 0 | 199 | ||||||||||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 22,643 | $ | 22,643 | $ | 22,643 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | 181,880 | 175,516 | 0 | 14,346 | 161,170 | ||||||||||||||||||||||||||||||||||||||||
Securitized debt obligations | 10,289 | 11,081 | 0 | 10,835 | 246 | ||||||||||||||||||||||||||||||||||||||||
Senior and subordinated notes | 13,134 | 13,715 | 0 | 13,715 | 0 | ||||||||||||||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 915 | 915 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Other borrowings | 16,316 | 16,324 | 0 | 16,324 | 0 | ||||||||||||||||||||||||||||||||||||||||
Interest payable | 307 | 307 | 0 | 307 | 0 | ||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 710 | 710 | 4 | 668 | 38 | ||||||||||||||||||||||||||||||||||||||||
Other liabilities | 18 | 18 | 0 | 0 | 18 | ||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Estimated Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Carrying | Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 11,058 | $ | 11,058 | $ | 11,058 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Restricted cash for securitization investors | 428 | 428 | 428 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Securities available for sale | 63,979 | 63,979 | 1,697 | 59,593 | 2,689 | ||||||||||||||||||||||||||||||||||||||||
Securities held to maturity | 9 | 9 | 0 | 9 | 0 | ||||||||||||||||||||||||||||||||||||||||
Net loans held for investment | 200,733 | 205,000 | 0 | 0 | 205,000 | ||||||||||||||||||||||||||||||||||||||||
Loans held for sale | 201 | 201 | 0 | 201 | 0 | ||||||||||||||||||||||||||||||||||||||||
Interest receivable | 1,694 | 1,694 | 0 | 1,694 | 0 | ||||||||||||||||||||||||||||||||||||||||
Consumer and commercial MSRs | 55 | 55 | 0 | 0 | 55 | ||||||||||||||||||||||||||||||||||||||||
Derivatives assets | 1,848 | 1,848 | 1 | 1,757 | 90 | ||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 204 | 204 | 0 | 0 | 204 | ||||||||||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 22,467 | $ | 22,467 | $ | 22,467 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | 190,018 | 189,423 | 0 | 22,216 | 167,207 | ||||||||||||||||||||||||||||||||||||||||
Securitized debt obligations | 11,398 | 11,590 | 0 | 11,252 | 338 | ||||||||||||||||||||||||||||||||||||||||
Senior and subordinated notes | 12,686 | 13,312 | 0 | 13,312 | 0 | ||||||||||||||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 1,248 | 1,248 | 1,248 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Other borrowings | 24,578 | 24,616 | 346 | 24,215 | 55 | ||||||||||||||||||||||||||||||||||||||||
Interest payable | 450 | 450 | 0 | 450 | 0 | ||||||||||||||||||||||||||||||||||||||||
Derivatives liabilities | 400 | 400 | 1 | 361 | 38 | ||||||||||||||||||||||||||||||||||||||||
Other liabilities | 4 | 4 | 0 | 0 | 4 | ||||||||||||||||||||||||||||||||||||||||
The following describes the valuation techniques used in estimating the fair value of our financial instruments as of December 31, 2013 and 2012. We applied the fair value provisions to the financial instruments not recognized on the consolidated balance sheets at fair value, which include securities held to maturity, loans held for investment, interest receivable, non-interest bearing and interest bearing deposits, other borrowings, senior and subordinated notes, and interest payable. The provisions requiring us to maximize the use of observable inputs and to measure fair value using a notion of exit price were factored into our selection of inputs of our established valuation techniques. | |||||||||||||||||||||||||||||||||||||||||||||
Financial Assets | |||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amounts of cash and due from banks, federal funds sold and securities purchased under agreements to resell and interest-bearing deposits with banks approximate fair value. | |||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash for Securitization Investors | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amounts of restricted cash for securitization investors approximate their fair value due to their relatively short-term nature. | |||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | |||||||||||||||||||||||||||||||||||||||||||||
Quoted prices in active markets are used to measure the fair value of U.S. Treasury debt obligations. For other investment categories, we utilize multiple third-party pricing services to obtain fair value measures for the large majority of our securities. A pricing service may be considered as the primary pricing provider for certain types of securities, and the designation of the primary pricing provider may vary depending on the type of securities. The determination of the primary pricing provider is based on our experience and validation benchmark of the pricing service’s performance in terms of providing fair value measurement for the various types of securities. | |||||||||||||||||||||||||||||||||||||||||||||
Certain securities are classified as Level 2 and 3, the majority of which are collateralized mortgage obligations and mortgage-backed securities. Level 2 and 3 classifications indicate that significant valuation assumptions are not consistently observable in the market. When significant assumptions are not consistently observable, fair values are derived using the best available data. Such data may include quotes provided by a dealer, the use of external pricing services, independent pricing models, or other model-based valuation techniques such as calculation of the present values of future cash flows incorporating assumptions such as benchmark yields, spreads, prepayment speeds, credit ratings, and losses. The techniques used by the pricing services utilize observable market data to the extent available. Pricing models may be used, which can vary by asset class and may incorporate available trade, bid and other market information. Across asset classes, information such as trader/dealer input, credit spreads, forward curves, and prepayment speeds are used to help determine appropriate valuations. Because many fixed income securities do not trade on a daily basis, the evaluated pricing applications may apply available information through processes such as benchmarking curves, like securities, sector groupings, and matrix pricing to prepare valuations. In addition, model processes are used by the pricing services to develop prepayment and interest rate scenarios. | |||||||||||||||||||||||||||||||||||||||||||||
We validate the pricing obtained from the primary pricing providers through comparison of pricing to additional sources, including other pricing services, dealer pricing indications in transaction results, and other internal sources. Pricing variances among different pricing sources are analyzed and validated. Additionally, on an on-going basis we may select a sample of securities and test the third-party valuation by obtaining more detailed information about the pricing methodology, sources of information, and assumptions used to value the securities. | |||||||||||||||||||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of our residential, asset-backed and commercial securities include yield, prepayment rate, default rate and loss severity in the event of default. Significant increases (decreases) in any of those inputs in isolation or combination would result in a significant change in fair value measurement. Generally, an increase in the yield assumption will result in a decrease in fair value measurement, however, an increase or decrease in prepayment rate, default rate or loss severity may have a different impact on the fair value given various characteristics of the security including the capital structure of the deal, credit enhancement for the security or other factors. | |||||||||||||||||||||||||||||||||||||||||||||
There was a considerable decrease in the market value of our portfolio holdings as of December 31, 2013, compared with December 31, 2012 due to higher interest rates. | |||||||||||||||||||||||||||||||||||||||||||||
Loans Held For Sale | |||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale are carried at the lower of aggregate cost, net of deferred fees and deferred origination costs, or fair value. We originate loans with the intent to sell to government sponsored enterprises as part of a delegated underwriting and servicing (“DUS”) program. For DUS commercial loans, we believe the fair value approximates par value as this is the contractual price we receive from the purchaser. For all other loans classified as held for sale, the fair value is determined using a discounted cash flow model or current secondary market prices for loan pools with similar characteristics. Loans held for sale that are valued at par or using a discounted cash flow model are classified as Level 2. Fair value adjustments to loans held for sale are recorded in other non-interest income in our consolidated statements of income. | |||||||||||||||||||||||||||||||||||||||||||||
Net Loans Held For Investment | |||||||||||||||||||||||||||||||||||||||||||||
Loans held for investment that are individually impaired are carried at the lower of cost or fair value of the underlying collateral, less the estimated cost to sell. The fair values of credit card loans, installment loans, auto loans, home loans and commercial loans were estimated using a discounted cash flow method, a form of the income approach. Discount rates were determined considering rates at which similar portfolios of loans would be made under current conditions and considering liquidity spreads applicable to each loan portfolio based on the secondary market. The fair value of credit card loans excluded any value related to customer account relationships. | |||||||||||||||||||||||||||||||||||||||||||||
Due to the use of unobservable inputs, loans held for investment are classified as Level 3 under the fair value hierarchy. Fair value adjustments for loans held for investment are recorded in provision for credit losses in the consolidated statement of income. The fair value of these loans as of December 31, 2013 remained substantially unchanged compared to the previous year as the impact of higher market rates was offset by improved credit performance in our card, mortgage and commercial loan portfolios. | |||||||||||||||||||||||||||||||||||||||||||||
Interest Receivable | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of interest receivable approximates the fair value of this asset due to its relatively short-term nature. | |||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets and Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
We use both exchange-traded derivatives and over-the-counter (“OTC”) derivatives to manage our interest rate and foreign currency risk exposure. Quoted market prices are available and used for our exchange-traded derivatives, which we classify as Level 1. However, substantially all of our derivatives are traded in OTC markets where quoted market prices are not always readily available. Therefore, we value most OTC derivatives using valuation techniques, which include internally-developed models. We primarily rely on market observable inputs for our models, such as interest rate yield curves, credit curves, option volatility and currency rates, that vary depending on the type of derivative and nature of the underlying rate, price or index upon which the derivative’s value is based. Where model inputs can be observed in a liquid market and the model does not require significant judgment, such derivatives are typically classified as Level 2 of the fair value hierarchy. When instruments are traded in less liquid markets and significant inputs are unobservable, such as interest rate swaps whose remaining terms do not correlate with market observable interest rate yield curves, the derivatives are classified as Level 3. | |||||||||||||||||||||||||||||||||||||||||||||
The impact of counterparty non-performance risk is considered when measuring the fair value of derivative assets. These derivatives are included in other assets on the balance sheet. | |||||||||||||||||||||||||||||||||||||||||||||
We validate the pricing obtained from the internal models through comparison of pricing to additional sources, including external valuation agents and other internal sources. Pricing variances among different pricing sources are analyzed and validated. | |||||||||||||||||||||||||||||||||||||||||||||
Mortgage Servicing Rights | |||||||||||||||||||||||||||||||||||||||||||||
We record consumer MSRs at fair value on a recurring basis, while commercial MSRs are subsequently measured at amortized cost with impairment recognized as a reduction in other non-interest income. MSRs do not trade in an active market with readily observable prices. Accordingly, we determine the fair value of MSRs using a valuation model that calculates the present value of estimated future net servicing income. The model incorporates assumptions that market participants use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, cost to service, contractual servicing fee income, ancillary income and late fees. Fair value measurements of MSRs use significant unobservable inputs and, accordingly, are classified as Level 3. In the event we enter into an agreement with a third party to sell the MSRs, the valuation is based on the agreed upon sale price which is considered to be the determined exit price for the assets and the MSRs are classified as Level 2. | |||||||||||||||||||||||||||||||||||||||||||||
Retained Interest in Securitizations | |||||||||||||||||||||||||||||||||||||||||||||
We have retained interest in various mortgage securitization deals from previous acquisitions. Our retained interest include rights to future cash flows arising from the receivables, the most significant being certificated interest-only bonds issued by the trust. We record our interest in these deals at fair value using valuation models to calculate the present value of future income. The model incorporates various assumptions that market participants use in estimating future income including weighted average life, constant prepayment rate, discount rate, default rate and severity. | |||||||||||||||||||||||||||||||||||||||||||||
Foreclosed property and Other Assets | |||||||||||||||||||||||||||||||||||||||||||||
Foreclosed property and other repossessed assets are carried at the lower of the carrying amount or fair value less costs to sell. Due to the use of significant unobservable inputs, foreclosed property is classified as Level 3 under the fair value hierarchy. Fair value adjustments for foreclosed property are recorded in other non-interest expense in the consolidated statement of income. Foreclosed property and repossessed assets, which we report in our consolidated balance sheets under other assets, totaled $113 million and $160 million, respectively, as of December 31, 2013, compared with $204 million and $109 million, respectively, as of December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||
Long-lived assets held for sale are also subject to fair value measurement on a nonrecurring basis, and carried at the lower of their carrying amount or fair value less costs to sell. Due to the use of unobservable inputs, long-lived assets held for sale are classified as Level 3 under the fair value hierarchy. Fair value adjustments for other assets are recorded in other non-interest expense in the consolidated statement of income. | |||||||||||||||||||||||||||||||||||||||||||||
Financial Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Non-Interest Bearing Deposits | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of non-interest bearing deposits approximates fair value. | |||||||||||||||||||||||||||||||||||||||||||||
Interest-Bearing Deposits | |||||||||||||||||||||||||||||||||||||||||||||
The fair value of interest-bearing deposits was determined based on discounted expected cash flows using discount rates consistent with current market rates for similar products with similar remaining terms. | |||||||||||||||||||||||||||||||||||||||||||||
Securitized Debt Obligations | |||||||||||||||||||||||||||||||||||||||||||||
We utilized multiple third party pricing services to obtain fair value measures for the large majority of our securitized debt obligations. The techniques used by the pricing services utilize observable market data to the extent available; and pricing models may be used which incorporate available trade, bid and other market information as described in the above section. We used internal pricing models, discounted cash flow models or similar techniques to estimate the fair value of certain securitization trusts where third-party pricing was not available. | |||||||||||||||||||||||||||||||||||||||||||||
Senior and Subordinated Notes | |||||||||||||||||||||||||||||||||||||||||||||
We engage multiple third party pricing services in order to estimate the fair value of senior and subordinated notes. The pricing service utilizes a pricing model that incorporates available trade, bid and other market information. It also incorporates spread assumptions, volatility assumptions and relevant credit information into the pricing models. | |||||||||||||||||||||||||||||||||||||||||||||
Federal Funds Purchased and Securities Loaned or Sold under Agreements to Repurchase and Other Borrowings | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of federal funds purchased and repurchase agreements approximates fair value. The fair value of FHLB advances was determined based on discounted expected cash flows using discount rates consistent with current market rates for FHLB advances with similar remaining terms. The decrease in fair value of our other borrowings at December 31, 2013 was primarily due to a decline in the volume of those borrowings. | |||||||||||||||||||||||||||||||||||||||||||||
Interest Payable | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of interest payable approximates the fair value of this liability due to its relatively short-term nature. |
Business_Segments
Business Segments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||
NOTE 19—BUSINESS SEGMENTS | |||||||||||||||||||||
Our principal operations are currently organized for management reporting purposes into three primary business segments, which are defined primarily 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. The acquired ING Direct business is primarily reflected in our Consumer Banking business, while the business acquired in the 2012 U.S. card acquisition is reflected in our Credit Card business. 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. | |||||||||||||||||||||
• | Credit Card: Consists of our domestic consumer and small business card lending, national closed end installment lending, and the international card lending businesses in Canada and the United Kingdom. | ||||||||||||||||||||
• | Consumer Banking: Consists of our branch-based lending and deposit gathering activities for consumers and small businesses, national deposit gathering, national auto lending and consumer home loan lending and servicing activities. | ||||||||||||||||||||
• | Commercial Banking: Consists of our lending, deposit gathering and treasury management services to commercial real estate and commercial and industrial customers. Our commercial and industrial customers typically include companies with annual revenues between $10 million to $1 billion. | ||||||||||||||||||||
• | Other Category: Includes the residual impact of the allocation of our centralized Corporate Treasury group activities, such as management of our corporate investment portfolio and asset/liability management, to our business segments. Accordingly, net gains and losses on our investment securities portfolio and certain trading activities are included in the Other category. The Other category also includes foreign exchange-rate fluctuations related to the revaluation of foreign currency-denominated investments; unallocated corporate expenses that do not directly support the operations of the business segments or for which the business segments are not considered financially accountable in evaluating their performance, such as acquisition and restructuring charges; certain provisions for representation and warranty reserves related to continuing operations; certain material items that are non-recurring in nature; and offsets related to certain line-item reclassifications. | ||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||
We report the results of each of our business segments on a continuing operations basis. See “Note 2—Discontinued Operations” for a discussion of 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 reflect 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. | |||||||||||||||||||||
Following is additional information on the principles and methodologies used in preparing our business segment results. | |||||||||||||||||||||
• | Net interest income: Interest income from loans held for investment and interest expense from deposits and other interest-bearing liabilities are reflected within each applicable business segment. Because funding and asset/liability management are managed centrally by our Corporate Treasury Group, net interest income for our business segments also includes the results of a funds transfer pricing process that is intended to allocate a cost of funds used or credit for funds provided to all business segment assets and liabilities, respectively, using a matched funding concept. Also, the taxable-equivalent benefit of tax-exempt products is allocated to each business unit with a corresponding increase in income tax expense. | ||||||||||||||||||||
• | Non-interest income: Non-interest fees and other revenue associated with loans or customers managed by each business segment and other direct revenues are accounted for within each business segment. | ||||||||||||||||||||
• | Provision for credit losses: The provision for credit losses is directly attributable to the business segment in which the loans are managed. | ||||||||||||||||||||
• | Non-interest expense: Non-interest expenses directly managed and incurred by a business segment are accounted for within each business segment. We allocate certain non-interest expenses indirectly incurred by business segments, such as corporate support functions, to each business segment based on various factors, including the actual cost of the services from the service providers, the utilization of the services, the number of employees or other relevant factors. | ||||||||||||||||||||
• | Goodwill and other intangible assets: Goodwill and other intangible assets are assigned to business segments based on the relative fair value of each segment. Intangible amortization is included in the results of the applicable segment. | ||||||||||||||||||||
• | Income taxes: Income taxes are assessed for each business segment based on a standard tax rate with the residual tax expense or benefit to arrive at the consolidated effective tax rate included in the “Other” category. | ||||||||||||||||||||
• | Loans held for investment: Loans are reported within each business segment based on product or customer type. | ||||||||||||||||||||
• | Deposits: Deposits are reported within each business segment based on product or customer type. | ||||||||||||||||||||
Segment Results and Reconciliation | |||||||||||||||||||||
We may periodically change our business segments or reclassify business segment results based on modifications to our management reporting methodologies and changes in organizational alignment. In the first quarter of 2012, we re-aligned the loan categories reported by our Commercial Banking business and the loan customer and product types included within each category. As a result of this re-alignment, we now report three product categories: commercial and multifamily real estate, commercial and industrial loans and small-ticket commercial real estate, which is a run-off portfolio. We previously reported four categories within our Commercial Banking business: commercial and multifamily real estate, middle market, specialty lending and small-ticket commercial real estate. Middle market and specialty lending related products are included in commercial and industrial loans. All affordable housing tax-related investments, some of which were previously included in the “Other” segment, are now included in the commercial and multifamily real estate category of our Commercial Banking business. | |||||||||||||||||||||
The following tables present our business segment results for 2013, 2012 and 2011, selected balance sheet data as of December 31, 2013, 2012 and 2011, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, assets and deposits. Prior period amounts have been recast to conform to the current period presentation. | |||||||||||||||||||||
Table 19.1: Segment Results and Reconciliation | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Other | Consolidated | ||||||||||||||||
Card | Banking | Banking | Total | ||||||||||||||||||
Net interest income | $ | 10,967 | $ | 5,905 | $ | 1,895 | $ | (661 | ) | $ | 18,106 | ||||||||||
Non-interest income | 3,320 | 749 | 395 | (186 | ) | 4,278 | |||||||||||||||
Total net revenue | 14,287 | 6,654 | 2,290 | (847 | ) | 22,384 | |||||||||||||||
Provision for credit losses | 2,824 | 656 | (24 | ) | (3 | ) | 3,453 | ||||||||||||||
Non-interest expense: | |||||||||||||||||||||
Amortization of intangibles: | |||||||||||||||||||||
PCCR intangible amortization | 434 | 0 | 0 | 0 | 434 | ||||||||||||||||
Core deposit intangible amortization | 0 | 138 | 27 | 0 | 165 | ||||||||||||||||
Total PCCR and core deposit intangible amortization | 434 | 138 | 27 | 0 | 599 | ||||||||||||||||
Other non-interest expense | 7,005 | 3,607 | 1,092 | 211 | 11,915 | ||||||||||||||||
Total non-interest expense | 7,439 | 3,745 | 1,119 | 211 | 12,514 | ||||||||||||||||
Income from continuing operations before income taxes | 4,024 | 2,253 | 1,195 | (1,055 | ) | 6,417 | |||||||||||||||
Income tax provision (benefit) | 1,409 | 802 | 426 | (612 | ) | 2,025 | |||||||||||||||
Income (loss) from continuing operations, net of tax | $ | 2,615 | $ | 1,451 | $ | 769 | $ | (443 | ) | $ | 4,392 | ||||||||||
Period-end total loans held for investment | $ | 81,305 | $ | 70,762 | $ | 45,011 | $ | 121 | $ | 197,199 | |||||||||||
Period-end total customer deposits | 0 | 167,652 | 30,567 | 6,304 | 204,523 | ||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Other | Consolidated | ||||||||||||||||
Card | Banking | Banking | Total | ||||||||||||||||||
Net interest income | $ | 10,182 | $ | 5,788 | $ | 1,740 | $ | (1,121 | ) | $ | 16,589 | ||||||||||
Non-interest income | 3,078 | 782 | 340 | 607 | 4,807 | ||||||||||||||||
Total net revenue | 13,260 | 6,570 | 2,080 | (514 | ) | 21,396 | |||||||||||||||
Provision for credit losses | 4,061 | 589 | (270 | ) | 35 | 4,415 | |||||||||||||||
Non-interest expense: | |||||||||||||||||||||
Amortization of intangibles: | |||||||||||||||||||||
PCCR intangible amortization | 350 | 0 | 0 | 0 | 350 | ||||||||||||||||
Core deposit intangible amortization | 0 | 159 | 34 | 0 | 193 | ||||||||||||||||
Total PCCR and core deposit intangible amortization | 350 | 159 | 34 | 0 | 543 | ||||||||||||||||
Other non-interest expense | 6,504 | 3,712 | 1,025 | 162 | 11,403 | ||||||||||||||||
Total non-interest expense | 6,854 | 3,871 | 1,059 | 162 | 11,946 | ||||||||||||||||
Income from continuing operations before income taxes | 2,345 | 2,110 | 1,291 | (711 | ) | 5,035 | |||||||||||||||
Income tax provision (benefit) | 815 | 747 | 456 | (717 | ) | 1,301 | |||||||||||||||
Income from continuing operations, net of tax | $ | 1,530 | $ | 1,363 | $ | 835 | $ | 6 | $ | 3,734 | |||||||||||
Period-end total loans held for investment | $ | 91,755 | $ | 75,127 | $ | 38,820 | $ | 187 | $ | 205,889 | |||||||||||
Period-end total customer deposits | 0 | 172,396 | 29,866 | 10,223 | 212,485 | ||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Other | Consolidated | ||||||||||||||||
Card | Banking | Banking | Total | ||||||||||||||||||
Net interest income | $ | 7,822 | $ | 4,236 | $ | 1,596 | $ | (913 | ) | $ | 12,741 | ||||||||||
Non-interest income | 2,609 | 720 | 283 | (74 | ) | 3,538 | |||||||||||||||
Total net revenue | 10,431 | 4,956 | 1,879 | (987 | ) | 16,279 | |||||||||||||||
Provision for credit losses | 1,870 | 452 | 31 | 7 | 2,360 | ||||||||||||||||
Non-interest expense: | |||||||||||||||||||||
Amortization of intangibles: | |||||||||||||||||||||
PCCR intangible amortization | 21 | 0 | 0 | 0 | 21 | ||||||||||||||||
Core deposit intangible amortization | 0 | 132 | 40 | 0 | 172 | ||||||||||||||||
Total PCCR and core deposit intangible amortization | 21 | 132 | 40 | 0 | 193 | ||||||||||||||||
Other non-interest expense | 5,014 | 3,112 | 885 | 128 | 9,139 | ||||||||||||||||
Total non-interest expense | 5,035 | 3,244 | 925 | 128 | 9,332 | ||||||||||||||||
Income from continuing operations before income taxes | 3,526 | 1,260 | 923 | (1,122 | ) | 4,587 | |||||||||||||||
Income tax provision (benefit) | 1,249 | 451 | 328 | (694 | ) | 1,334 | |||||||||||||||
Income from continuing operations, net of tax | $ | 2,277 | $ | 809 | $ | 595 | $ | (428 | ) | $ | 3,253 | ||||||||||
Period-end total loans held for investment | $ | 65,075 | $ | 36,315 | $ | 34,327 | $ | 175 | $ | 135,892 | |||||||||||
Period-end total customer deposits | 0 | 88,540 | 26,683 | 13,003 | 128,226 |
Commitments_Contingencies_Guar
Commitments, Contingencies, Guarantees, and Others | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Commitments, Contingencies, Guarantees, and Others | ' | ||||||||||||||||||||||||||||
NOTE 20—COMMITMENTS, CONTINGENCIES, GUARANTEES, AND OTHERS | |||||||||||||||||||||||||||||
Contingent Payments Related to Acquisitions and Partnership Agreements | |||||||||||||||||||||||||||||
Certain of our acquisition and partnership agreements include contingent payment provisions in which we agree to provide future payments, up to a maximum amount, based on certain performance criteria. Our contingent payment arrangements are generally based on the difference between the expected credit performance of specified loan portfolios as of the date of the applicable agreement and the actual future performance. To the extent that actual losses associated with these portfolios are less than the expected level, we agree to share a portion of the benefit with the seller. In 2013 we settled all of our existing contingent payment arrangements for $165 million and as of December 31, 2013, we had no liability for contingent payments related to these arrangements. Our liability for contingent payments related to these arrangements was $165 million as of December 31, 2012. | |||||||||||||||||||||||||||||
Guarantees | |||||||||||||||||||||||||||||
We have credit exposure on agreements that we entered into to absorb a portion of the risk of loss on certain manufactured housing securitizations issued by GreenPoint Credit LLC in 2000. Our maximum credit exposure related to these agreements totaled $16 million and $19 million as of December 31, 2013 and 2012, respectively. These agreements are recorded in our consolidated balance sheets as a component of other liabilities. The value of our obligations under these agreements was $15 million and $17 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
See “Note 6—Variable Interest Entities and Securitizations” for additional information about our manufactured housing securitization transactions. | |||||||||||||||||||||||||||||
Letters of Credit and Loss Sharing Agreements | |||||||||||||||||||||||||||||
We issue letters of credit (financial standby, performance standby and commercial) 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. 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 customer acceptances, and the results of these reviews are considered in assessing the adequacy of our allowance for loan and lease losses. | |||||||||||||||||||||||||||||
On November 1, 2013, we acquired Beech Street Capital, a privately-held, delegated underwriting and servicing lender (“DUS”) that originates multi-family commercial loans with the intent to sell to a government-sponsored enterprise (“GSE”). We enter into loss sharing agreements with Fannie Mae upon the sale of the DUS commercial loans. Under these agreements, losses on the covered loans are shared on a pari passu basis over the life 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 in the consolidated balance sheets and a non-interest expense may be recognized in the consolidated statements of income. The associated MSRs will also be reviewed for impairment annually. | |||||||||||||||||||||||||||||
We had standby letters of credit and commercial letters of credit with contractual amounts of $2.0 billion and $1.9 billion as of December 31, 2013 and 2012, respectively. The carrying value of outstanding letters of credit, which we include in other liabilities in our consolidated balance sheets, was $4 million as of December 31, 2013, and 2012. These financial guarantees had expiration dates ranging from 2013 to 2025 as of December 31, 2013. The amount of the loss sharing agreement with Fannie Mae was $14 million at December 31, 2013. No additional collateral or recourse provisions exist to reduce this exposure. | |||||||||||||||||||||||||||||
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”) investigated and raised concerns about the way some companies have handled complaints related to the sale of these insurance policies. In connection with this matter, we have established a reserve related to PPI, which totaled $139 million and $220 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Potential Mortgage Representation & Warranty Liabilities | |||||||||||||||||||||||||||||
We acquired three subsidiaries that originated residential mortgage loans and sold these loans to various purchasers, including purchasers who created securitization trusts. These subsidiaries are Capital One Home Loans, LLC, which was acquired in February 2005; GreenPoint, which was acquired in December 2006 as part of the North Fork acquisition; and CCB, which was acquired in February 2009 and subsequently merged into CONA (collectively, “the subsidiaries”). | |||||||||||||||||||||||||||||
In connection with their sales of mortgage loans, the subsidiaries entered into agreements containing varying representations and warranties about, among other things, the ownership of the loan, the validity of the lien securing the loan, the loan’s compliance with any applicable loan criteria established by the purchaser, including underwriting guidelines and the ongoing existence of mortgage insurance, and the loan’s compliance with applicable federal, state and local laws. The representations and warranties do not address the credit performance of the mortgage loans, but mortgage loan performance often influences whether a claim for breach of representation and warranty will be asserted and has an effect on the amount of any loss in the event of a breach of a representation or warranty. | |||||||||||||||||||||||||||||
Each of these subsidiaries may be required to repurchase mortgage loans in the event of certain breaches of these representations and warranties. In the event of a repurchase, the subsidiary is typically required to pay the unpaid principal balance of the loan together with interest and certain expenses (including, in certain cases, legal costs incurred by the purchaser and/or others). The subsidiary then recovers the loan or, if the loan has been foreclosed, the underlying collateral. The subsidiary is exposed to any losses on the repurchased loans after giving effect to any recoveries on the collateral. In some instances, rather than repurchase the loans, a subsidiary may agree to make cash payments to make an investor whole on losses or to settle repurchase claims, possibly including claims for attorneys’ fees and interest. In addition, our subsidiaries may be required to indemnify certain purchasers and others against losses they incur as a result of certain breaches of representations and warranties. | |||||||||||||||||||||||||||||
These subsidiaries, in total, originated and sold to non-affiliates approximately $111 billion original principal balance of mortgage loans between 2005 and 2008, which are the years (or “vintages”) with respect to which our subsidiaries have received the vast majority of the repurchase requests and other related claims. | |||||||||||||||||||||||||||||
The following table presents the original principal balance of mortgage loan originations, by vintage for 2005 through 2008, for the three general categories of purchasers of mortgage loans and the estimated outstanding principal balance as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
Table 20.1: Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser (estimated) | |||||||||||||||||||||||||||||
Unpaid Principal Balance | |||||||||||||||||||||||||||||
December 31, | December 31, | Original Unpaid Principal Balance | |||||||||||||||||||||||||||
(Dollars in billions) | 2013 | 2012 | Total | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Government sponsored enterprises (“GSEs”)(1) | $ | 3 | $ | 4 | $ | 11 | $ | 1 | $ | 4 | $ | 3 | $ | 3 | |||||||||||||||
Insured Securitizations | 5 | 5 | 20 | 0 | 2 | 8 | 10 | ||||||||||||||||||||||
Uninsured Securitizations and Other | 18 | 23 | 80 | 3 | 15 | 30 | 32 | ||||||||||||||||||||||
Total | $ | 26 | $ | 32 | $ | 111 | $ | 4 | $ | 21 | $ | 41 | $ | 45 | |||||||||||||||
(1) | GSEs include Fannie Mae and Freddie Mac. | ||||||||||||||||||||||||||||
Between 2005 and 2008, our subsidiaries sold an aggregate amount of $11 billion in original principal balance mortgage loans to the GSEs. | |||||||||||||||||||||||||||||
Of the $20 billion in original principal balance of mortgage loans sold directly by our subsidiaries to private-label purchasers who placed the loans into securitizations supported by bond insurance (“Insured Securitizations”), approximately 48% of the original principal balance was covered by the bond insurance. Further, approximately $16 billion original principal balance was placed in securitizations as to which the monoline bond insurers have made repurchase requests or loan file requests to one of our subsidiaries (“Active Insured Securitizations”) and the remaining approximately $4 billion original principal balance was placed in securitizations as to which the monoline bond insurers have not made repurchase requests or loan file requests to one of our subsidiaries (“Inactive Insured Securitizations”). Insured Securitizations often allow the monoline bond insurer to act independently of the investors. Bond insurers typically have indemnity agreements directly with both the mortgage originators and the securitizers, and they often have super-majority rights within the trust documentation that allow them to direct trustees to pursue mortgage repurchase requests without coordination with other investors. | |||||||||||||||||||||||||||||
Because we do not service most of the loans our subsidiaries sold to others, we do not have complete information about the current ownership of a portion of the $80 billion in original principal balance of mortgage loans not sold directly to GSEs or placed in Insured Securitizations. We have determined based on information obtained from third-party databases that about $48 billion original principal balance of these mortgage loans are currently held by private-label publicly issued securitizations not supported by bond insurance (“Uninsured Securitizations”). An additional approximately $22 billion original principal balance of mortgage loans were initially sold to private investors as whole loans. Various known and unknown investors purchased the remaining $10 billion original principal balance of mortgage loans. | |||||||||||||||||||||||||||||
With respect to the $111 billion in original principal balance of mortgage loans originated and sold to others between 2005 and 2008, we estimate that approximately $26 billion in unpaid principal balance remains outstanding as of December 31, 2013, of which approximately $6 billion in unpaid principal balance is at least 90 days delinquent. Approximately $20 billion in losses have been realized by third parties. Because we do not service most of the loans we sold to others, we do not have complete information about the underlying credit performance levels for some of these mortgage loans. These amounts reflect our best estimates, including extrapolations of underlying credit performance where necessary. These estimates could change as we get additional data or refine our analysis. | |||||||||||||||||||||||||||||
The subsidiaries had open repurchase requests relating to approximately $2.8 billion original principal balance of mortgage loans as of December 31, 2013, compared with $2.4 billion as of December 31, 2012. Currently, repurchase demands predominantly relate to the 2006 and 2007 vintages. We have received relatively few repurchase demands from the 2008 and 2009 vintages, mostly because GreenPoint ceased originating mortgages in August 2007. | |||||||||||||||||||||||||||||
The following table presents information on pending repurchase requests by counterparty category and timing of initial repurchase request. The amounts presented are based on original loan principal balances. | |||||||||||||||||||||||||||||
Table 20.2: Open Pipeline All Vintages (all entities)(1) | |||||||||||||||||||||||||||||
(Dollars in millions) (All amounts are Original Principal Balance) | GSEs | Insured | Uninsured | Total | |||||||||||||||||||||||||
Securitizations | Securitizations | ||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Open claims as of December 31, 2011 | $ | 176 | $ | 1,243 | $ | 672 | $ | 2,091 | |||||||||||||||||||||
Gross new demands received | 189 | 366 | 291 | 846 | |||||||||||||||||||||||||
Loans repurchased/made whole | (233 | ) | (3 | ) | (138 | ) | (374 | ) | |||||||||||||||||||||
Demands rescinded | (75 | ) | (30 | ) | (40 | ) | (145 | ) | |||||||||||||||||||||
Reclassifications(2) | 2 | 3 | (4 | ) | 1 | ||||||||||||||||||||||||
Open claims as of December 31, 2012 | $ | 59 | $ | 1,579 | $ | 781 | $ | 2,419 | |||||||||||||||||||||
Gross new demands received | 203 | 40 | 391 | 634 | |||||||||||||||||||||||||
Loans repurchased/made whole | (49 | ) | (5 | ) | (27 | ) | (81 | ) | |||||||||||||||||||||
Demands rescinded | (124 | ) | 0 | (23 | ) | (147 | ) | ||||||||||||||||||||||
Open claims as of December 31, 2013 | $ | 89 | $ | 1,614 | $ | 1,122 | $ | 2,825 | |||||||||||||||||||||
-1 | The open pipeline includes all repurchase requests ever received by our subsidiaries where either the requesting party has not formally rescinded the repurchase request and where our subsidiary has not agreed to either repurchase the loan at issue or make the requesting party whole with respect to its losses. Accordingly, repurchase requests denied by our subsidiaries and not pursued by the counterparty remain in the open pipeline, with the exception of certain aged repurchase requests submitted by parties without contractual standing to pursue such requests, which may be removed from the pipeline. Finally, the amounts reflected in this chart are the original principal balance amounts of the mortgage loans at issue and do not correspond to the losses our subsidiary would incur upon the repurchase of these loans. | ||||||||||||||||||||||||||||
(2) | Represents adjustments to correct the counterparty category as of December 31, 2012 for amounts that were misclassified. The reclassification had an impact of less than $1 million on the total pending repurchase requests; however, most of the reclassification resulted from an increase in open claims attributable to GSEs and Insured Securitizations and an offsetting decrease in open claims attributable to Uninsured Securitizations and Other. | ||||||||||||||||||||||||||||
The following table summarizes changes in our representation and warranty reserves for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
Table 20.3: Changes in Representation and Warranty Reserves | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||||||||||||||||||
Representation and warranty repurchase reserve, beginning of period(1) | $ | 899 | $ | 943 | |||||||||||||||||||||||||
Provision for mortgage representation and warranty losses(2) | 309 | 349 | |||||||||||||||||||||||||||
Net realized losses | (36 | ) | (393 | ) | |||||||||||||||||||||||||
Representation and warranty repurchase reserve, end of period(1) | $ | 1,172 | $ | 899 | |||||||||||||||||||||||||
(1) | Reported in our consolidated balance sheets as a component of other liabilities. | ||||||||||||||||||||||||||||
(2) | The pre-tax portion of the provision for mortgage representation and warranty losses recognized in our consolidated statements of income as a component of non-interest income was a benefit of $24 million and a loss of $42 million in 2013 and 2012, respectively. The portion of the provision for mortgage representation and warranty recognized in our consolidated statements of income as a component of discontinued operations totaled $333 million and $307 million in 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
As indicated in the table below, most of the reserves relate to the $27 billion in original principal balance of mortgage loans sold directly to the GSEs or to the Active Insured Securitizations. | |||||||||||||||||||||||||||||
Table 20.4: Allocation of Representation and Warranty Reserves | |||||||||||||||||||||||||||||
Reserve Liability | |||||||||||||||||||||||||||||
December 31, | Loans Sold | ||||||||||||||||||||||||||||
(Dollars in millions, except for loans sold) | 2013 | 2012 | 2005 to 2008(1) | ||||||||||||||||||||||||||
Selected period-end data: | |||||||||||||||||||||||||||||
GSEs and Active Insured Securitizations | $ | 965 | $ | 817 | $ | 27 | |||||||||||||||||||||||
Inactive Insured Securitizations and Others | 207 | 82 | 84 | ||||||||||||||||||||||||||
Total | $ | 1,172 | $ | 899 | $ | 111 | |||||||||||||||||||||||
(1) | Reflects, in billions, the total original principal balance of mortgage loans originated by our subsidiaries and sold to third party investors between 2005 and 2008. | ||||||||||||||||||||||||||||
In establishing reserves for the $11 billion original principal balance of GSE loans, we rely on the historical relationship between GSE loan losses and repurchase outcomes for each GSE, adjusted for any settlements, to estimate: (1) the percentage of current and future GSE loan defaults that we anticipate will result in repurchase requests from the GSEs over the lifetime of the GSE loans; and, (2) the percentage of those repurchase requests that we anticipate will result in actual repurchases. We rely on estimated collateral valuations and loss forecast models to estimate our lifetime liability on GSE loans. This reserving approach to the GSE loans reflects the historical interaction with the GSEs around repurchase requests, and also includes anticipated repurchases resulting from mortgage insurance rescissions. Although our assumed future claims rate considers the most recent claims experience and actual repurchases, an increase in GSE claims and/or repurchases could result in an increase in our reserve. We have entered into and completed repurchase or settlement agreements with respect to the majority of our exposure within this category. | |||||||||||||||||||||||||||||
Our reserves also could be impacted by any claims which may be brought by governmental agencies under the Financial Institutions Reform, Recovery, and Enforcement Act (“FIRREA”), the False Claims Act, or other federal or state statutes. For example, in 2013, GreenPoint and Capital One received requests for information and/or subpoenas from various governmental regulators and law enforcement authorities, including members of the RMBS Working Group, a federal and state law enforcement effort focused on investigating fraud and abuse in the RMBS Market relating to the mortgage originations, mortgage loan sales, and the mortgage securitization process. We are cooperating with these regulators and other authorities in responding to such requests. | |||||||||||||||||||||||||||||
For the $16 billion original principal balance in Active Insured Securitizations, our reserving approach reflects our historical interaction with monoline bond insurers around repurchase requests. Typically, monoline bond insurers allege a very high repurchase rate with respect to the mortgage loans in the Active Insured Securitization category. In response to these repurchase requests, our subsidiaries typically request information from the monoline bond insurers demonstrating that the contractual requirements around a valid repurchase request have been satisfied. In response to these requests for supporting documentation, monoline bond insurers typically initiate litigation. Accordingly, our reserves within the Active Insured Securitization segment are not based upon the historical repurchase rate with monoline bond insurers, but rather upon the expected resolution of litigation with the monoline bond insurers. Every bond insurer within this category is pursuing a substantially similar litigation strategy either through active or probable litigation. Accordingly, our representation and warranty reserves for this category are litigation reserves. | |||||||||||||||||||||||||||||
In establishing litigation reserves for this category, we consider the current and future monoline insurer losses inherent within the securitization and apply legal judgment to the anticipated factual and legal record to estimate the lifetime legal liability for each securitization. We rely on our own past monoline settlement ratios in addition to considering publicly available industry monoline settlement ratios to establish these reserves. Our reserves with respect to the U.S. Bank Litigation, the DBSP Litigation, and the Ambac Litigation, in each case as referenced below, are contained within the Active Insured Securitization reserve category. Further, to the extent we have litigation reserves with respect to indemnification risks from certain representation and warranty lawsuits brought by monoline bond insurers against third-party securitizations sponsors, where one of our subsidiaries provided some or all of the mortgage collateral within the securitization but is not a defendant in the litigation, such reserves are also contained within this category. | |||||||||||||||||||||||||||||
For the $4 billion original principal balance of mortgage loans in the Inactive Insured Securitizations category and the $48 billion original principal balance of mortgage loans in the Uninsured Securitizations category, we establish reserves based on an assessment of probable and estimable legal liability, if any, utilizing both our own experience and publicly available industry settlement information to estimate lifetime liability. In contrast with the bond insurers in the Insured Securitizations, investors in Uninsured Securitizations often face a number of legal and logistical hurdles before they can force a securitization trustee to pursue mortgage repurchases, including the need to coordinate with a certain percentage of investors holding the securities and to indemnify the trustee for any litigation it undertakes. Accordingly, we only reserve for such exposures when a trustee or investor with standing brings claims and it is probable we have incurred a loss. Some Uninsured Securitization investors from this category are currently suing investment banks and securitization sponsors under federal and/or state securities laws. Although we face some direct and indirect indemnity risks from these litigations, we generally have not established reserves with respect to these indemnity risks because we do not consider them to be both probable and reasonably estimable liabilities. In addition, to the extent we have litigation reserves with respect to indemnification risks from certain representation and warranty lawsuits brought by parties who purchased loans from our subsidiaries and subsequently re-sold the loans into securitizations, such reserves are also contained within this category. | |||||||||||||||||||||||||||||
For the $22 billion original principal balance of mortgage loans sold to private investors as whole loans, we establish reserves by relying on our historical and anticipated claims and repurchase rates to estimate lifetime liability. | |||||||||||||||||||||||||||||
The aggregate reserves for all three subsidiaries totaled $1.2 billion as of December 31, 2013, compared with $899 million as of December 31, 2012. We recorded a total provision for mortgage representation and warranty losses for our representation and warranty repurchase exposure of $309 million in 2013, which was primarily driven by increased litigation activity and updated legal assumptions with respect to estimable losses. During the year, we had settlements of repurchase requests totaling $36 million that were charged against the reserves. | |||||||||||||||||||||||||||||
As part of our business planning processes, we have considered various outcomes relating to the potential future representation and warranty liabilities of our subsidiaries that are possible but do not rise to the level of being both probable and reasonably estimable outcomes justifying an incremental accrual under applicable accounting standards. Our current best estimate of reasonably possible future losses from representation and warranty claims beyond what was in our reserve as of December 31, 2013 is approximately $2.6 billion, a decline from our estimate of $2.7 billion as of December 31, 2012. The estimate as of December 31, 2013 covers all reasonably possible losses relating to representation and warranty claim activity, including those relating to the U.S. Bank Litigation, the DBSP Litigation, the Ambac Litigation, the FHFA Litigation, the LXS Trust Litigation and the FHLB of Boston Litigation. | |||||||||||||||||||||||||||||
In estimating reasonably possible future losses in excess of our current reserves, we assume a portion of the inactive securitizations become active and for all Insured Securitizations, we assume loss rates on the high end of those observed in monoline settlements or court rulings. For our remaining GSE exposures, Uninsured Securitizations and whole loan exposures, our reasonably possible risk estimates assume lifetime loss rates and claims rates at the highest levels of our past experience and also consider the limited instances of observed settlements. We do not assume claim rates or loss rates for these risk categories will be as high as those assumed for the Active Insured Securitizations, however, based on industry precedent. Should the number of claims or the loss rates on these claims increase significantly, our estimate of reasonably possible risk would increase materially. We also assume that we will resolve any loan repurchase requests relating to loans originated more than six years ago at a discount as compared to those originated within six years of a repurchase claim because of the pending legal arguments in various matters around the applicable statute of limitations. | |||||||||||||||||||||||||||||
Notwithstanding our ongoing attempts to estimate a reasonably possible amount of future losses beyond our current accrual levels based on current information, it is possible that actual future losses will exceed both the current accrual level and our current estimate of the amount of reasonably possible losses. Our reserve and reasonably possible estimates involve considerable judgment and reflect that there is still significant uncertainty regarding numerous factors that may impact the ultimate loss levels, including, but not limited to: litigation outcomes; court rulings; governmental enforcement decisions; future repurchase and indemnification claim levels; securitization trustees pursuing mortgage repurchase litigation unilaterally or in coordination with investors; investors successfully pursuing repurchase litigation independently and without the involvement of the trustee as a party; ultimate repurchase and indemnification rates; future mortgage loan performance levels; actual recoveries on the collateral; and macroeconomic conditions (including unemployment levels and housing prices). In light of the significant uncertainty as to the ultimate liability our subsidiaries may incur from these matters, an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period. | |||||||||||||||||||||||||||||
Litigation | |||||||||||||||||||||||||||||
In accordance with the current accounting standards for loss contingencies, we establish reserves for litigation related matters 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. 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 material legal proceedings and claims. | |||||||||||||||||||||||||||||
For some of the matters disclosed below, we are able to determine estimates of potential future outcomes that are not probable and reasonably estimable outcomes justifying either the establishment of a reserve or an incremental reserve build, but which are reasonably possible outcomes. For other disclosed matters, such an estimate is not possible at this time. For those matters below where an estimate is possible (excluding the reasonably possible future losses relating to the U.S. Bank Litigation, the DBSP Litigation, the Ambac Litigation, the FHFA Litigation, the LXS Trust Litigation and the FHLB of Boston Litigation, because reasonably possible losses with respect to those litigations are included within the reasonably possible representation and warranty liabilities discussed above) management currently estimates the reasonably possible future losses could be approximately $250 million. Notwithstanding our attempt to estimate a reasonably possible range of loss beyond our current accrual levels for some litigation matters based on current information, it is possible that actual future losses will exceed both the current accrual level and the range of reasonably possible losses disclosed here. Given the inherent uncertainties involved in these matters, and the very large or indeterminate damages sought in some of these matters, there is significant uncertainty as to the ultimate liability we may incur from these litigation matters and an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period. | |||||||||||||||||||||||||||||
Interchange Litigation | |||||||||||||||||||||||||||||
In 2005, a number of entities, each purporting to represent a class of retail merchants, filed antitrust lawsuits (the “Interchange 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. 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. This agreement is contingent on final court approval of the class settlement. In November 2012, the court granted preliminary approval of the class settlement. In December 2013, the court granted final approval of the proposed class settlement, which was appealed to the Second Circuit Court of Appeals in January 2014. Several merchant plaintiffs have also opted out of the class settlement, some of which have sued MasterCard, Visa and various member banks, including Capital One (collectively “the Opt-Out Plaintiffs”). Relatedly, in December 2013, individual consumer plaintiffs also filed a proposed national class action against a number of banks, including Capital One, alleging that because the banks conspired to fix interchange fees, consumers were forced to pay more for the fees than appropriate. These cases are in their preliminary stages. | |||||||||||||||||||||||||||||
As members of Visa, our subsidiary banks have indemnification obligations to Visa with respect to final judgments and settlements, including the Interchange Lawsuits. In the first quarter of 2008, Visa completed an IPO of its stock. With IPO proceeds, Visa established an escrow account for the benefit of member banks to fund certain litigation settlements and claims, including the Interchange Lawsuits. As a result, in the first quarter of 2008, we reduced our Visa-related indemnification liabilities of $91 million recorded in other liabilities with a corresponding reduction of other non-interest expense. We made an election in accordance with the accounting guidance for fair value option for financial assets and liabilities on the indemnification guarantee to Visa, and the fair value of the guarantee at December 31, 2013 and 2012 was zero. Separately, in January 2011, we entered into a MasterCard Settlement and Judgment Sharing Agreement, along with other defendant banks, which apportions between MasterCard and its member banks the costs and liabilities of any judgment or settlement arising from the Interchange Lawsuits. | |||||||||||||||||||||||||||||
In March 2011, a furniture store owner named Mary Watson filed a proposed class action in the Supreme Court of British Columbia against Visa, MasterCard, and several banks, including Capital One (the “Watson Litigation”). The lawsuit asserts, among other things, that the defendants conspired to fix the merchant discount fees that merchants pay on credit card transactions in violation of Section 45 of the Competition Act and seeks unspecified damages and injunctive relief. In addition, Capital One has been named as a defendant in similar proposed class action claims filed in other jurisdictions in Canada. The Court heard oral argument on plaintiffs’ motion for class certification in the Watson Litigation in April, 2013, and the parties await a ruling. | |||||||||||||||||||||||||||||
Late Fees Litigation | |||||||||||||||||||||||||||||
In 2007, a number of individual plaintiffs, each purporting to represent a class of cardholders, filed antitrust lawsuits in the U.S. District Court for the Northern District of California against several issuing banks, including COBNA. These lawsuits allege, among other things, that the defendants conspired to fix the level of late fees and over-limit fees charged to cardholders, and that these fees are excessive. In May 2007, the cases were consolidated for all purposes, and a consolidated amended complaint was filed alleging violations of federal statutes and state law. The amended complaint requests civil monetary damages, which could be trebled, and injunctive relief. In November 2007, the court dismissed the amended complaint. Plaintiffs appealed that order to the Ninth Circuit Court of Appeals. The plaintiffs’ appeal challenges the dismissal of their claims under the National Bank Act, the Depository Institutions Deregulation Act of 1980 and the California Unfair Competition Law (the “UCL”), but not their antitrust conspiracy claims. In January, 2014, the Ninth Circuit affirmed the lower court’s dismissal of the case. | |||||||||||||||||||||||||||||
Credit Card Interest Rate Litigation | |||||||||||||||||||||||||||||
The Capital One Bank Credit Card Interest Rate Multi-district Litigation matter was created as a result of a June 2010 transfer order issued by the United States Judicial Panel on Multi-district Litigation (“MDL”), which consolidated for pretrial proceedings in the U.S. District Court for the Northern District of Georgia two pending putative class actions against COBNA-Nancy Mancuso, et al. v. Capital One Bank (USA), N.A., et al., (E.D. Virginia); and Kevin S. Barker, et al. v. Capital One Bank (USA), N.A., (N.D. Georgia), A third action, Jennifer L. Kolkowski v. Capital One Bank (USA), N.A., (C.D. California) was subsequently transferred into the MDL. In August 2010, the plaintiffs in the MDL filed a Consolidated Amended Complaint. The Consolidated Amended Complaint alleges in a putative class action that COBNA breached its contractual obligations, and violated the Truth in Lending Act (“TILA”), the California Consumers Legal Remedies Act, the UCL, the California False Advertising Act, the New Jersey Consumer Fraud Act, and the Kansas Consumer Protection Act when it raised interest rates on certain credit card accounts. The MDL plaintiffs seek statutory damages, restitution, attorney’s fees and an injunction against future rate increases. Fact discovery is now closed. In August 2011, Capital One filed a motion for summary judgment, which remains pending with the court. In July 2013, the MDL plaintiffs filed a supplemental opposition to Capital One’s motion for summary judgment. As a result of a settlement in another matter, the California-based UCL and TILA claims in the MDL are extinguished. | |||||||||||||||||||||||||||||
Mortgage Repurchase Litigation | |||||||||||||||||||||||||||||
In February 2009, GreenPoint was named as a defendant in a lawsuit commenced in the New York County Supreme Court, by U.S. Bank, N. A., Syncora Guarantee Inc. and CIFG Assurance North America, Inc. (the “U.S. Bank Litigation”). Plaintiffs allege, among other things, that GreenPoint breached certain representations and warranties in two contracts pursuant to which GreenPoint sold approximately 30,000 mortgage loans having an aggregate original principal balance of approximately $1.8 billion to a purchaser that ultimately transferred most of these mortgage loans to a securitization trust. Some of the securities issued by the trust were insured by two of the plaintiffs: Syncora and CIFG. Plaintiffs seek unspecified damages and an order compelling GreenPoint to repurchase the entire portfolio of 30,000 mortgage loans based on alleged breaches of representations and warranties relating to a limited sampling of loans in the portfolio, or, alternatively, the repurchase of specific mortgage loans to which the alleged breaches of representations and warranties relate. In March 2010, the court granted GreenPoint’s motion to dismiss with respect to plaintiffs Syncora and CIFG and denied the motion with respect to U.S. Bank. GreenPoint subsequently answered the complaint with respect to U.S. Bank, denying the allegations, and filed a counterclaim against U.S. Bank alleging breach of covenant of good faith and fair dealing. In February 2012, the court denied plaintiffs’ motion for leave to file an amended complaint and dismissed Syncora and CIFG from the case. Syncora and CIFG appealed their dismissal to the New York Supreme Court, Appellate Division, First Department (the “First Department”), which affirmed the dismissal in April 2013. Syncora and CIFG have appealed the First Department’s decision to the New York Court of Appeals. | |||||||||||||||||||||||||||||
In September 2010, DB Structured Products, Inc. (“DBSP”) named GreenPoint in a third-party complaint, filed in the New York County Supreme Court, alleging breach of contract and seeking indemnification (the “DBSP Litigation”). In the underlying suit, Assured Guaranty Municipal Corp. (“AGM”) sued DBSP for alleged breaches of representations and warranties made by DBSP with respect to certain residential mortgage loans that collateralize a securitization insured by AGM and sponsored by DBSP. DBSP purchased the HELOC loans from GreenPoint in 2006. The entire securitization, almost all of which is insured by AGM, is comprised of loans with an aggregate original principal balance of approximately $353 million. DBSP asserts that any liability it faces lies with GreenPoint, alleging that DBSP’s representations and warranties to AGM are substantially similar to the representations and warranties made by GreenPoint to DBSP. GreenPoint filed a motion to dismiss the complaint in October 2010, which the court denied in July 2011. | |||||||||||||||||||||||||||||
In October 2012, Capital One, N.A., (“CONA”) as successor to CCB, was named as a defendant in a lawsuit filed in the Southern District of New York by Ambac Assurance Corporation and the Segregated Account of Ambac Assurance Corporation (the “Ambac Litigation”). Plaintiffs allege, among other things, that CONA (as successor to CCB) breached certain representations and warranties in contracts relating to six securitizations with an aggregate original principal balance of approximately $5.2 billion which were sponsored by a CCB affiliate in 2006 and 2007 and backed by loans originated by CCB. Almost half of the securities issued by the six trusts are insured by Ambac. Plaintiffs seek unspecified damages, an order compelling CONA to indemnify Ambac for all accrued and future damages based on alleged breaches of representations and warranties relating to a limited sampling of loans in the portfolio, the repurchase of specific mortgage loans to which the alleged breaches of representations and warranties relate, and all related fees, costs, and interest. CONA’s motion to dismiss the complaint is currently pending before the court. | |||||||||||||||||||||||||||||
In May, June, and July 2012, FHFA (acting as conservator for Freddie Mac) filed three summons 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. (the “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. GreenPoint’s motion to dismiss the complaint is currently pending before the court. | |||||||||||||||||||||||||||||
In July 2013, Lehman XS Trust, Series 2006-4N, by its trustee U.S. Bank, N.A. filed a lawsuit in the Southern District of New York against GreenPoint alleging breaches of representations and warranties made in certain loan sale agreements, pursuant to which GreenPoint sold mortgage loans with an original principal balance of $915 million to Lehman Brothers for securitization and sale to investors. The lawsuit (“the LXS Trust Litigation”) seeks specific performance of GreenPoint’s obligation to repurchase certain allegedly breaching loans, or in the alternative, the repurchase of all loans in the trust, the award of rescissory damages, costs, fees and interest. In January 2014, the court granted GreenPoint’s motion to dismiss based on the statute of limitations, ruling that New York’s six-year statute of limitations began running no later than the time of the mortgage securitization. The plaintiff has appealed the dismissal of the complaint. | |||||||||||||||||||||||||||||
As noted above in the section entitled Potential Mortgage Representation & Warranty Liabilities, the Company’s subsidiaries establish reserves with respect to representation and warranty litigation matters, where appropriate, within the Company’s overall representation and warranty reserves. Please see above for more details. | |||||||||||||||||||||||||||||
FHLB Securities Litigation | |||||||||||||||||||||||||||||
In April 2011, the Federal Home Loan Bank of Boston (the “FHLB of Boston”) filed suit against dozens of mortgage industry participants in Massachusetts Superior Court, alleging, among other things, violations of Massachusetts state securities laws in the sale and marketing of certain residential mortgage-backed securities (the “FHLB of Boston Litigation”). Capital One Financial Corporation and CONA are named in the complaint as alleged successors in interest to CCB, which allegedly marketed some of the mortgage-backed securities at issue in the litigation. The FHLB of Boston seeks rescission, unspecified damages, attorneys’ fees, and other unspecified relief. The case was removed to the United States District Court for the District of Massachusetts in May 2011. FHLB of Boston filed an Amended Complaint in June 2012, and the Company’s motion to dismiss was denied in September 2013. | |||||||||||||||||||||||||||||
Checking Account Overdraft Litigation | |||||||||||||||||||||||||||||
In May 2010, Capital One Financial Corporation and COBNA were named as defendants in a putative class action named Steen v. Capital One Financial Corporation, et al., filed in the U.S. District Court for the Eastern District of Louisiana. Plaintiff challenges practices relating to fees for overdraft and non-sufficient funds fees on consumer checking accounts. Plaintiff alleges that our methodology for posting transactions to customer accounts is designed to maximize the generation of overdraft fees, supporting claims for breach of contract, breach of the covenant of good faith and fair dealing, unconscionability, conversion, unjust enrichment and violations of state unfair trade practices laws. Plaintiff seeks a range of remedies, including restitution, disgorgement, injunctive relief, punitive damages and attorneys’ fees. In May 2010, the case was transferred to the Southern District of Florida for coordinated pre-trial proceedings as part of a multi-district litigation (MDL) involving numerous defendant banks, captioned In re Checking Account Overdraft Litigation. In January 2011, plaintiffs filed a second amended complaint against CONA in the MDL court. In February 2011, CONA filed a motion to dismiss the second amended complaint. In March 2011, the MDL court granted CONA’s motion to dismiss claims of breach of the covenant of good faith and fair dealing under Texas law, but denied the motion to dismiss in all other respects. In June 2012, the MDL court granted plaintiff’s motion for class certification. The modified scheduling order entered by the MDL court contemplates the conclusion of discovery in the second quarter of 2014 and we anticipate a remand to the Eastern District of Louisiana in the third quarter of 2014. | |||||||||||||||||||||||||||||
Hawaii, Mississippi, Missouri and New Mexico State Attorney General Payment Protection Matters | |||||||||||||||||||||||||||||
In April 2012, the Attorney General of Hawaii filed a lawsuit in First Circuit Court in Hawaii against Capital One Bank (USA) N.A., and Capital One Services, LLC. The case is one of several similar lawsuits filed by the Attorney General of Hawaii against various banks challenging the marketing and sale of payment protection and credit monitoring products. In June 2012, the Attorney General of Mississippi filed substantially similar suits against Capital One and several other banks. In April 2013, the Attorney General of New Mexico also filed substantially similar suits against Capital One and several other banks. All three state attorney general complaints allege that Capital One enrolls customers in such programs without their consent and that Capital One enrolls customers in such programs in circumstances in which the customer is not eligible to receive benefits for the product in question. All suits allege unjust enrichment and violation of Unfair and Deceptive Practices Act statutes. The remedies sought in the lawsuits include an injunction prohibiting the Company from engaging in the alleged violations, restitution for all persons allegedly injured by the complained of practices, civil penalties and costs. | |||||||||||||||||||||||||||||
In May 2012, Capital One removed the Hawaii AG case to U.S. District Court, District of Hawaii. In November 2012, the court denied the Hawaii AG’s motion to remand. The Hawaii AG petitioned to appeal the District Court’s decision to the Ninth Circuit Court of Appeals, which was granted by the Ninth Circuit in April 2013. The District Court case is now stayed pending the appeal. | |||||||||||||||||||||||||||||
In August 2012, Capital One removed the Mississippi AG case to the U.S. District Court, Southern District of Mississippi. In July 2013, the court denied the Mississippi AG’s motion to remand. The Fifth Circuit overturned the District Court’s denial of the AG’s motion to remand in December 2013, and the case will proceed in state court. | |||||||||||||||||||||||||||||
In June 2013, Capital One removed the New Mexico AG case to the U.S. District Court, District of New Mexico. In response, the New Mexico AG filed an Amended Complaint in federal court, adding a claim for alleged violations of the Truth in Lending Act. In November 2013, the court granted in part and denied in part Capital One’s motion to dismiss. The court dismissed the state deceptive practices act claim but allowed the New Mexico AG to proceed on its claims under the Truth In Lending Act. In a separate order, the court also granted Capital One’s motion precluding the New Mexico AG from recovery of alleged damages for New Mexico residents who were class members in a prior class action against Capital One. | |||||||||||||||||||||||||||||
Relatedly, Capital One has provided information to the Attorney General of Missouri as part of an industry-wide informal inquiry initiated in August 2011, relating to the marketing of payment protection products. | |||||||||||||||||||||||||||||
Intellectual Ventures Corp., et al. | |||||||||||||||||||||||||||||
In June 2013, Intellectual Ventures I, LLC and Intellectual Ventures II, LLC (collectively “IV”) sued Capital One Financial Corp., Capital One Bank (USA), N.A. and Capital One, N.A. (collectively “Capital One”) for patent infringement in the United States District Court for the Eastern District of Virginia. In the Complaint, IV alleges infringement of patents related to various business processes across the Capital One enterprise. IV simultaneously filed patent infringement actions against numerous other financial institutions on the same and other patents in several other federal courts. Capital One’s motion to dismiss was denied without prejudice in August 2013. Capital One filed an answer and counterclaim alleging antitrust violations. In December 2013, the court dismissed Capital One’s counterclaim and decided the parties’ arguments on claim construction. IV has agreed to dismiss two patents in suit, and following claim construction, has asked for a stipulation of non-infringement for one patent with an opportunity to appeal the court’s decision regarding claim construction. As a result, two patents remain in dispute in the case. Trial is currently scheduled to begin in April 2014. | |||||||||||||||||||||||||||||
In January 2014, IV filed a second suit against Capital One for patent infringement in the U.S. District Court for the District of Maryland. In the complaint, IV again alleges infringement of patents related to various business practices across the Capital One enterprise. | |||||||||||||||||||||||||||||
Derivative Actions | |||||||||||||||||||||||||||||
In August 2012, a derivative action, titled Iron Workers Mid-South Pension Fund v. Fairbank, et al., Case No. 2012 14130 (“Iron Workers Action”), was filed by a putative stockholder on behalf of the Company in Virginia Circuit Court of Fairfax County (hereafter “Virginia Circuit Court”) against certain current and former directors and officers of the Company, alleging breach of the fiduciary duty of loyalty, gross mismanagement, corporate waste, and unjust enrichment. The allegations stem from the Company’s entering into consent orders with the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau regarding vendor sales practices of payment protection and credit monitoring products. Plaintiff shareholder generally alleges that the alleged failure of the Company’s officers and directors to oversee certain practices between 2010 and early 2012 caused harm to the Company, which is named as a “nominal defendant.” The action includes claims for, among other things, damages in favor of the Company, certain corporate actions to purportedly improve the Company’s corporate governance and internal procedures, and an award of costs and expenses to the putative plaintiff stockholder, including attorneys’ fees. In September 2012, a second derivative complaint, titled Barovic v. Fairbank, et al., Case No. 2012 14130, was filed by another putative stockholder on behalf of the Company also in the Virginia Circuit Court. The Barovic derivative complaint is substantially identical to the Iron Workers’ Action (collectively “Derivative Actions” filed by the “Derivative Plaintiffs”). The defendants removed the Derivative Actions to federal court and moved to dismiss the complaints. In June 2013, the court granted Capital One’s motion to dismiss, finding that the plaintiffs did not adequately allege facts showing that the Board could not be impartial in responding to a litigation demand. The court also dismissed with prejudice the claims for unjust enrichment and corporate waste, and the claims against the named officer defendants. The plaintiffs filed an amended complaint in July 2013, which Capital One moved to dismiss with prejudice in July 2013. In October 2013, the court granted Capital One’s motion to dismiss the amended complaint with prejudice, thereby dismissing the consolidated matter in its entirety. | |||||||||||||||||||||||||||||
Telephone Consumer Protection Act Litigation | |||||||||||||||||||||||||||||
In December 2012, the Capital One Telephone Consumer Protection Act (“TCPA”) Litigation Multi-district Litigation matter was created as a result of a transfer order issued by the United States Judicial Panel on Multi-district Litigation (“TCPA MDL”), which consolidated for pretrial proceedings in the U.S. District Court for the Northern District of Illinois three pending putative class actions-Bridgett Amadeck, et al. v. Capital One Financial Corporation, et al. (W.D. Washington); Nicholas Martin, et al. v. Capital One Bank (USA), N.A., et al. (N.D. Illinois); and Charles C. Patterson v. Capital One Bank (USA), N.A., et al. (N.D. Illinois)-and several individual lawsuits. In February 2013, the putative class action plaintiffs in the TCPA MDL filed a Consolidated Master Class Action Complaint. The Consolidated Master Class Action Complaint and individual lawsuits allege that COBNA and/or entities acting on its behalf violated the TCPA by contacting consumers on their cellular telephones using an automatic telephone dialing system and/or artificial or prerecorded voice without first obtaining prior express consent to do so. The plaintiffs seek statutory damages for alleged negligent and willful violations of the TCPA, attorneys’ fees, costs, and injunctive relief. | |||||||||||||||||||||||||||||
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. |
Capital_One_Financial_Corporat
Capital One Financial Corporation (Parent Company Only) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Capital One Financial Corporation (Parent Company Only) | ' | ||||||||||||
NOTE 21—CAPITAL ONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) | |||||||||||||
Financial Information | |||||||||||||
The following Parent Company Only financial statements are provided in accordance with Regulation S-X of the SEC. | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||
Balance sheets | |||||||||||||
Assets: | |||||||||||||
Cash and cash equivalents | $ | 7,185 | $ | 7,342 | |||||||||
Investment in subsidiaries | 43,430 | 46,605 | |||||||||||
Loans to subsidiaries | 1,487 | 1,335 | |||||||||||
Securities available for sale | 807 | 464 | |||||||||||
Other | 976 | 1,432 | |||||||||||
Total assets | 53,885 | 57,178 | |||||||||||
Liabilities: | |||||||||||||
Senior and subordinated notes | 9,458 | 10,116 | |||||||||||
Other borrowings | 1,545 | 5,036 | |||||||||||
Other | 1,138 | 1,527 | |||||||||||
Total liabilities | 12,141 | 16,679 | |||||||||||
Stockholders’ equity: | |||||||||||||
Preferred stock | 0 | 0 | |||||||||||
Common stock | 6 | 6 | |||||||||||
Additional paid-in-capital, net | 26,526 | 26,188 | |||||||||||
Retained earnings | 20,404 | 16,853 | |||||||||||
Accumulated other comprehensive income | (872 | ) | 739 | ||||||||||
Less: Treasury stock, at cost | (4,320 | ) | (3,287 | ) | |||||||||
Total Stockholders’ equity | 41,744 | 40,499 | |||||||||||
Total liabilities and stockholders’ equity | $ | 53,885 | $ | 57,178 | |||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Statements of income | |||||||||||||
Interest from temporary investments | $ | 94 | $ | 47 | $ | 26 | |||||||
Interest expense | 250 | 574 | 515 | ||||||||||
Dividends, principally from bank subsidiaries | 5,950 | 0 | 1,950 | ||||||||||
Non-interest income | 33 | 697 | 29 | ||||||||||
Non-interest expense | 196 | 173 | 361 | ||||||||||
Income before income taxes and equity in undistributed earnings of subsidiaries | 5,631 | (3 | ) | 1,129 | |||||||||
Income tax (benefit) | (66 | ) | (168 | ) | (247 | ) | |||||||
Equity in undistributed earnings of subsidiaries | (1,305 | ) | 3,569 | 1,877 | |||||||||
Income from continuing operations, net of tax | 4,392 | 3,734 | 3,253 | ||||||||||
Loss from discontinued operations, net of tax | (233 | ) | (217 | ) | (106 | ) | |||||||
Net income | 4,159 | 3,517 | 3,147 | ||||||||||
Dividends and undistributed earnings allocated to participating securities | (17 | ) | (15 | ) | (26 | ) | |||||||
Preferred stock dividends | (53 | ) | (15 | ) | 0 | ||||||||
Net income available to common stockholders | $ | 4,089 | $ | 3,487 | $ | 3,121 | |||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Statements of cash flows | |||||||||||||
Operating activities: | |||||||||||||
Net income | $ | 4,159 | $ | 3,517 | $ | 3,147 | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||
Dividends (undistributed earnings) from subsidiaries: | |||||||||||||
Continuing operations | 1,305 | (3,569 | ) | (1,877 | ) | ||||||||
Discontinued operations | 233 | 217 | 106 | ||||||||||
Accretion | (57 | ) | (24 | ) | (2 | ) | |||||||
Stock plan compensation expense | 143 | 112 | 92 | ||||||||||
Decrease (increase) in other assets | (818 | ) | 1 | (65 | ) | ||||||||
Increase (decrease) in other liabilities | (388 | ) | (34 | ) | 18 | ||||||||
Net cash (used in) provided by operating activities | 4,577 | 220 | 1,419 | ||||||||||
Investing activities: | |||||||||||||
(Increase) decrease in investment in subsidiaries | 787 | (9,709 | ) | (46 | ) | ||||||||
Proceeds from maturities of securities available for sale | 46 | 24 | 0 | ||||||||||
Purchase of securities available for sale | (287 | ) | (351 | ) | (54 | ) | |||||||
(Increase) decrease in loans to subsidiaries | (153 | ) | (997 | ) | (1 | ) | |||||||
Proceeds from issuance of common stock for acquisition | 0 | 2,638 | 0 | ||||||||||
Net cash provided by (used in) investing activities | 393 | (8,395 | ) | (101 | ) | ||||||||
Financing activities: | |||||||||||||
(Decrease) increase in borrowings from subsidiaries | (3,490 | ) | 555 | 450 | |||||||||
Issuance of senior notes | 849 | 2,246 | 2,992 | ||||||||||
Maturities of senior notes | (1,040 | ) | (632 | ) | (855 | ) | |||||||
Dividends paid—common stock | (555 | ) | (111 | ) | (91 | ) | |||||||
Dividends paid—preferred stock | (53 | ) | (15 | ) | 0 | ||||||||
Purchases of treasury stock | (1,033 | ) | (43 | ) | (42 | ) | |||||||
Net proceeds from issuances of common stock | 81 | 3,233 | 40 | ||||||||||
Net proceeds from issuances of preferred stock | 0 | 853 | 0 | ||||||||||
Proceeds from stock-based payment activities | 114 | 80 | 57 | ||||||||||
Net cash (used in) provided by financing activities | (5,127 | ) | 6,166 | 2,551 | |||||||||
(Decrease) increase in cash and cash equivalents | (157 | ) | (2,009 | ) | 3,869 | ||||||||
Cash and cash equivalents at beginning of year | 7,342 | 9,351 | 5,482 | ||||||||||
Cash and cash equivalents at end of year | $ | 7,185 | $ | 7,342 | $ | 9,351 | |||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
NOTE 22—RELATED PARTY TRANSACTIONS | |
In the ordinary course of business, we may have loans issued to our executive officers, directors, and principal stockholders, also known as Regulation O Insiders. Pursuant to our policy, such loans are issued on the same terms as those prevailing at the time for comparable loans to unrelated persons and do not involve more than the normal risk of collectability. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Accounting Policies [Abstract] | ' | ||||
Basis of Presentation and Use of Estimates | ' | ||||
Basis of Presentation and Use of Estimates | |||||
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. The preparation of financial statements in conformity with generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and 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. Certain prior period amounts have been reclassified to conform to the current period presentation. | |||||
Principles of Consolidation | ' | ||||
Principles of Consolidation | |||||
The consolidated financial statements include the accounts of Capital One Financial Corporation and all other entities in which we have a controlling financial interest. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a Variable Interest Entity (“VIE”). All significant intercompany account balances and transactions have been eliminated. | |||||
Voting Interest Entities | ' | ||||
Voting Interest Entities | |||||
Voting interest entities are entities that have sufficient equity and provide the equity investors voting rights that give them the power to make significant decisions relating to the entity’s operations. Since a controlling financial interest in an entity is typically obtained through ownership of a majority voting interest, we consolidate our majority-owned subsidiaries and other voting interest entities in which we hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through other contractual rights. | |||||
Investments in entities where we do not have a controlling financial interest but we have significant influence over the entity’s financial and operating decisions (generally defined as owning a voting interest of 20% to 50%) are accounted for under the equity method. If we own less than 20% of a voting interest entity, we generally carry the investment at cost, except marketable equity securities, which we carry at fair value with changes in fair value included in accumulated other comprehensive income. We typically report investments accounted for under the equity or cost method in other assets on our consolidated balance sheets, and include our share of income or loss on equity method investments and dividends on cost method investments in other non-interest income in our consolidated statements of income. | |||||
Variable Interest Entities | ' | ||||
Variable Interest Entities | |||||
VIEs are entities that, by design, either (1) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. 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. | |||||
In determining whether we are the primary beneficiary of a VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE, such as our role in establishing the VIE and our ongoing rights and responsibilities; our economic interests, including debt and equity investments, servicing fees, and other arrangements deemed to be variable interests in the VIE; the design of the VIE, including the capitalization structure, subordination of interests, payment priority, relative share of interests held across various classes within the VIE’s capital structure and the reasons why the interests are held by us. | |||||
We perform on-going reassessments of whether entities previously evaluated under the majority voting-interest framework have become VIEs and should be subject to the VIE consolidation framework or whether changes in the nature of our involvement with a VIE results in a change in our consolidation conclusion. In the normal course of business, we have entered into various types of transactions with entities that are considered to be VIEs including securitization transactions in which we transferred assets from our balance sheet to securitization trusts. See “Note 6—Variable Interest Entities and Securitizations” for further details. | |||||
Cash and Cash Equivalents | ' | ||||
Cash and Cash Equivalents | |||||
Cash and cash equivalents include cash and due from banks, federal funds sold and securities purchased under agreements to resell and interest-bearing deposits with banks, all of which, if applicable, have stated maturities of three months or less when acquired. | |||||
Securities Resale and Repurchase Agreements | ' | ||||
Securities Resale and Repurchase Agreements | |||||
Securities purchased under resale agreements and securities loaned or sold under agreements to repurchase, principally U.S. government and agency obligations, are not accounted for as sales but as collateralized financing transactions and recorded at the amounts at which the securities were acquired or sold, plus accrued interest. We continually monitor the market value of these securities and deliver additional collateral to or obtain additional collateral from counterparties, as appropriate. | |||||
Investment Securities | ' | ||||
Investment Securities | |||||
Our investment securities consist primarily of fixed-income debt securities and equity securities. The accounting and measurement framework for our investment securities differs depending on the security classification. We classify securities as available for sale or held to maturity based on our investment strategy and management’s assessment of our intent and ability to hold the securities until maturity. Securities that we intend to hold for an indefinite period of time and may sell prior to maturity in response to changes in our investment strategy, liquidity needs, interest rate risk profile or for other reasons are classified as available for sale. Securities that we have the intent and ability to hold until maturity are classified as held to maturity. | |||||
We report securities available for sale in our consolidated balance sheets at fair value with unrealized gains and losses recorded, net of tax, as a component of Accumulated Other Comprehensive Income (“AOCI”). We report securities held to maturity on our consolidated balance sheets at carrying value. Carrying value generally consists of amortized cost. For securities transferred from available for sale to held to maturity, carrying value also includes unrealized gains and losses recognized in AOCI at the date of transfer. Investment securities transferred into the held to maturity category from the available for sale category are recorded at fair value at the date of transfer. Such unrealized gains or losses are accreted over the remaining life of the security with no impact on future net income. | |||||
Deferred items, including unamortized premiums, discounts and other basis adjustments, are recognized in interest income over the contractual lives of the securities using the effective interest method. We record purchases and sales of investment securities on a trade date basis. Realized gains and losses from the sale of debt securities are computed using the first in first out method of identification, and included in non-interest income in our consolidated statements of income. | |||||
We regularly evaluate our securities whose value has declined below amortized cost to assess whether the decline in fair value is other than temporary. Amortized cost reflects historical cost adjusted for amortization of premiums, accretion of discounts and other-than-temporary impairment (“OTTI”) write-down. We discuss our assessment of and accounting for OTTI in “Note 3—Investment Securities”. We discuss the techniques we use in determining the fair value of our investment securities in “Note 18—Fair Value of Financial Instruments.” | |||||
Our investment portfolio also includes certain acquired debt securities that were deemed to be credit impaired at the acquisition date, and therefore are accounted for in accordance with accounting guidance for purchased credit-impaired loans and debt securities. These securities are recorded at fair value at the acquisition date using the estimated cash flows we expect to collect discounted by the prevailing market interest rate. The difference between the contractually required payments due and the cash flows we expect to collect at acquisition, considering the impact of prepayments, is referred to as the nonaccretable difference and recognized in interest income using an effective yield method over the remaining life of the security. Decreases in expected cash flows attributable to credit result in the recognition of other-than-temporary impairment. Increases in expected cash flows are recognized prospectively over the remaining life of the security as an adjustment to the accretable yield. See “Loans Acquired” in this Note for further discussion of accounting guidance for purchased credit-impaired loans and debt securities. | |||||
Loans | ' | ||||
Loans | |||||
Our total loan portfolio consists of credit card, consumer banking and commercial banking loans that we own and loans that underlie our securitization trusts. Credit card loans consist of domestic and international credit card loans as well as installment 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. | |||||
Loan Classification | ' | ||||
Loan Classification | |||||
Upon origination or purchase, we classify loans as held for investment or held for sale based on our investment strategy and management’s intent and ability with regard to the loans which may change over time. The accounting and measurement framework for loans differs depending on the loan classification, whether the loans are originated or purchased and whether purchased loans are considered credit-impaired at the date of acquisition. We used the term “Acquired Loans” to refer to a limited portion of the credit card loans acquired in the 2012 U.S. card acquisition and the substantial majority of consumer and commercial loans acquired in the ING Direct and Chevy Chase Bank acquisitions, which were recorded at fair value at acquisition and subsequently accounted for based on expected cash flows to be collected (under the accounting standard formerly known as “Statement of Position 03-3, Accounting for Certain Loans or Debt Securities Acquired in a Transfer,” commonly referred to as “SOP 03-3”). | |||||
Loans Held for Investment | ' | ||||
Loans Held for Investment | |||||
Loans that we have the ability and intent to hold for the foreseeable future and loans associated with on-balance sheet securitization transactions accounted for as secured borrowings are classified as held for investment. Loans classified as held for investment, except Acquired Loans accounted for based upon expected cash flows, are reported at their amortized cost, which is the outstanding principal balance, net of any unearned income, unamortized deferred fees and costs, unamortized premiums and discounts and charge-offs. Credit card loans also include billed finance charges and fees, net of the estimated uncollectible amount. | |||||
Interest income is recognized on loans held for investment on an accrual basis. We generally defer certain loan origination fees and direct loan origination costs on originated loans, premiums and discounts on purchased loans and loan commitment fees. We recognize these amounts in interest income as yield adjustments over the life of the loan and/or commitment period using the effective interest method. Where appropriate, prepayment estimates are factored into the calculation of the constant effective yield necessary to apply the interest method. Prepayment estimates are based on historical prepayment data and existing and forecasted interest rates and economic data. For credit card loans, loan origination fees and direct loan origination costs are amortized on a straight-line basis over a 12-month period. We establish an allowance for loan losses for probable losses inherent in our held for investment loan portfolio as of each balance sheet date. | |||||
Cash flows related to unrestricted loans held for investment are included in cash flows from investing activities in our consolidated statements of cash flows. Because our securitization transactions are accounted for as secured borrowings, the cash flows from these transactions are presented as cash flows from financing activities in our consolidated statements of cash flows. | |||||
Loans Held for Sale | ' | ||||
Loans Held for Sale | |||||
Loans purchased or originated with the intent to sell or for which we do not have the ability and intent to hold for the foreseeable future are classified as held for sale, reported at the lower of amortized cost or fair value and have interest recognized on the accrual basis. Loan origination fees and the direct loan origination costs are deferred until the loan is sold and recognized as part of the total gain or loss on sale. The fair value of loans held for sale is determined on an aggregate homogeneous portfolio basis. | |||||
If a loan is transferred from held for investment to held for sale, declines in fair value related to credit are recorded as a charge-off and amortization of deferred loan origination fees and costs ceases. Subsequent to transfer, we report write-downs or recoveries in fair value up to the amortized cost and realized gains or losses on loans held for sale in our consolidated statements of income as a component of other non-interest income. We calculate the gain or loss on loan sales as the difference between the proceeds received and the carrying value of the loans sold, net of the fair value of any retained servicing rights. | |||||
Loans Acquired and Accounted for Based on Expected Cash Flows | ' | ||||
Loans Acquired and Accounted for Based on Expected Cash Flows | |||||
All purchased loans, including loans transferred in a business combination, acquired on or after January 1, 2009, are recorded at fair value, which incorporates expected future losses, as of the date of each acquisition. While we may purchase loans with or without evidence of credit deterioration since origination, we elect to account for purchased loans using the guidance for accounting for purchased credit-impaired loans and debt securities, which is based upon expected cash flows, unless specifically scoped out of the guidance. | |||||
In accounting for purchased loans based on expected cash flows, we first determine the contractually required payments due, which represent the total undiscounted amount of all uncollected principal and interest payments, adjusted for the effect of estimated prepayments. We then estimate the undiscounted cash flows we expect to collect by incorporating several key assumptions including default rates, loss severities and the amount and timing of prepayments. We estimate the fair value by discounting the estimated cash flows we expect to collect using an observable market rate of interest, when available, adjusted for factors that a market participant would consider in determining fair value. We are permitted to aggregate loans acquired in the same fiscal quarter into one or more pools if the loans have common risk characteristics. A pool is then accounted for as a single asset, with a single composite interest rate and an aggregate fair value and expected cash flows. | |||||
The difference between total contractual payments on the loans and all expected cash flows represents the nonaccretable difference or the amount of principal and interest not considered collectible, which incorporates future expected credit losses over the life of the loans. Decreases in expected cash flows resulting from further credit deterioration will generally result in a loan loss recognized in our provision for credit losses and an increase in the allowance for loan and lease losses. Charge-offs are not recorded until the expected credit losses within the nonaccretable difference is depleted. In addition, Acquired Loans are not classified as delinquent or nonperforming as we expect to collect our net investment in these loans and the nonaccretable difference will absorb the majority of the losses associated with these loans. The excess of cash flows expected to be collected over the estimated fair value of purchased loans is referred to as the accretable yield. This amount is not recorded on our consolidated balance sheets, but is accreted into interest income over the life of the loan, or pool of loans, using the effective interest method. | |||||
Subsequent to acquisition, we are required to periodically evaluate our estimate of cash flows expected to be collected. These evaluations, which we perform quarterly, require the use of key assumptions and estimates similar to those used in estimating the initial fair value at acquisition. Subsequent changes in the estimated cash flows expected to be collected may result in changes in the accretable yield and nonaccretable difference or reclassifications from the nonaccretable difference to the accretable yield. Decreases in expected cash flows resulting from credit deterioration will generally result in an impairment charge recognized in our provision for credit losses and an increase in the allowance for loan and lease losses. Increases in the cash flows expected to be collected would first reduce any previously recorded allowance for loan and lease losses established subsequent to acquisition. The excess over the recorded allowance for loan and lease losses would result in a reclassification to the accretable yield from the nonaccretable difference and an increase in interest income recognized over the remaining life of the loan or pool of loans. Disposals of loans, which may include sales to third parties, receipt of payments in full or in part by the borrower, and foreclosure of the collateral, result in removal of the loan from the acquired loan portfolio. See “Note 4—Loans” for additional information. | |||||
Loans Acquired and Accounted for Based on Contractual Cash Flows | ' | ||||
Loans Acquired and Accounted for Based on Contractual Cash Flows | |||||
The substantial majority of the loans purchased in the 2012 U. S. card acquisition had existing revolving privileges at acquisition, therefore were excluded from the accounting guidance applied to the Acquired Loans described above, and accounted for based on contractual cash flows. To determine the fair value of these loans at acquisition, we discounted the contractual cash flows due using an observable market rate of interest, when available, adjusted for factors that a market participant would consider in determining fair value. In determining fair value, contractual cash flows are adjusted to include prepayment estimates based upon trends in default rates and loss severities. The difference between the fair value and the contractual cash flows is recorded as a loan discount or premium at acquisition. The premium or discount is amortized into interest income using the effective interest method over the remaining life of the loans. We are permitted to aggregate loans acquired in the same fiscal quarter into one or more pools if the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate fair value and expected cash flows. | |||||
Subsequent to acquisition, it may be necessary to record an allowance for loan and lease losses through the provision for credit losses to properly recognize an estimate of incurred losses on the existing principal balances as of each reporting date. The allowance for loan and lease losses is calculated using the same methodology utilized for determining the allowance for our existing credit card portfolio prior to the 2012 U.S. card acquisition, as described below under “Allowance for Loan and Lease Losses”. | |||||
Loan Modifications and Restructurings | ' | ||||
Loan Modifications and Restructurings | |||||
As part of our loss mitigation efforts, we may provide short-term (three to twelve months) or long-term (greater than twelve months) modifications to a borrower experiencing financial difficulty to improve long-term collectability of the loan and to avoid the need for foreclosure or repossession of collateral. Our loan modifications typically result in reduced principal and interest payments for borrowers through an extension of the loan term, a reduction in the interest rate, or a combination of both. | |||||
For credit card loan agreements, such modifications may include canceling the customer’s available line of credit on the credit card, reducing the interest rate on the card, and placing the customer on a fixed payment plan not exceeding 60 months. In some cases, we may curtail the amount of principal owed by the borrower. | |||||
A loan modification in which a concession is granted to a borrower experiencing financial difficulty is accounted for and reported as a troubled debt restructuring (“TDR”). We describe our accounting for and measurement of impairment on restructured loans below under “Impaired Loans”. See “Note 4—Loans” for additional information on our loan modifications and restructurings. | |||||
Delinquent and Nonperforming Loans | ' | ||||
Delinquent and Nonperforming Loans | |||||
The entire balance of a loan is considered contractually delinquent if the minimum required payment is not received by the first statement cycle date equal to or following the due date specified on the customer’s billing statement. Delinquency is reported on loans that are 30 or more days past due. Interest and fees continue to accrue on past due loans until the date the loan is placed on nonaccrual status, if applicable. We generally place loans on nonaccrual status when we believe the collectability of interest and principal is not reasonably assured. | |||||
Nonperforming loans generally include loans that have been placed on nonaccrual status. We do not report loans accounted for under the loans held for sale as nonperforming. | |||||
Our policies for classifying loans as nonperforming, by loan category, are as follows: | |||||
• | Credit card loans: As permitted by regulatory guidance issued by the Federal Financial Institutions Examination Council (“FFIEC”), our policy is generally to exempt credit card loans from being classified as nonperforming as these loans are generally charged off in the period the account becomes 180 days past due. Consistent with industry conventions, we generally continue to accrue interest and fees on delinquent credit card loans until the loans are charged-off. During the fourth quarter 2012, we began classifying credit card loans issued in the U.K. as nonperforming when the account becomes either 90 or 120 days past due depending on the specific facts and circumstances. | ||||
• | Consumer banking loans: We classify consumer banking loans as nonperforming at the earlier of the date when we determine that the collectability of all interest and principal on the loan is not reasonably assured or in the period in which the loan becomes 90 days past due for auto, home loans, and unsecured small business revolving lines of credit and 120 days past due for all consumer loans, including installment loans. | ||||
• | Commercial banking loans: We classify commercial loans as nonperforming as of the date we determine that the collectability of all interest and principal on the loan is not reasonably assured. | ||||
• | Modified loans and troubled debt restructurings: Modified loans, including TDRs, that are current at the time of the restructuring remain on accrual status if there is demonstrated performance prior to the restructuring and continued performance under the modified terms is expected. Otherwise, the modified loan is classified as nonperforming and placed on nonaccrual status until the borrower demonstrates a sustained period of performance over several payment cycles, generally six months of consecutive payments, under the modified terms of the loan. | ||||
• | Acquired Loans: Since the Acquired Loans were initially measured at fair value based on an estimate of credit losses expected to be realized over the remaining lives of the loans, we exclude these loans from our delinquency and nonperforming loan statistics. | ||||
Interest and fees accrued but not collected at the date a loan is placed on nonaccrual status are reversed against earnings. In addition, the amortization of net deferred loan fees is suspended. Interest and fee income is subsequently recognized only upon the receipt of cash payments. However, if there is doubt regarding the ultimate collectability of loan principal, all cash received is applied against the principal balance of the loan. Nonaccrual loans are generally returned to accrual status when all principal and interest is current and repayment of the remaining contractual principal and interest is reasonably assured or when the loan is both well-secured and in the process of collection and collectability is no longer doubtful. | |||||
Impaired Loans | ' | ||||
Impaired Loans | |||||
A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due from the borrower in accordance with the original contractual terms of the loan. Generally, we report loans as impaired based on the method for measuring impairment in accordance with applicable accounting guidance. Loans held for sale are also not reported as impaired, as these loans are recorded at lower of cost or fair value. Impaired loans also exclude Acquired Loans accounted for based on expected cash flows at acquisition because this accounting methodology takes into consideration future credit losses expected to be incurred. | |||||
Loans defined as individually impaired, based on applicable accounting guidance, include larger balance nonperforming loans and TDR loans. Our policies for identifying loans as individually impaired, by loan category, are as follows: | |||||
• | Credit card loans: Credit card loans that have been modified in a troubled debt restructuring are identified and accounted for as individually impaired. | ||||
• | Consumer banking loans: Consumer loans that have been modified in a troubled debt restructuring are identified and accounted for as individually impaired. In 2013 we began including home loans written-down to collateral value. | ||||
• | Commercial banking loans: Commercial loans classified as nonperforming and commercial loans that have been modified in a troubled debt restructuring are reported as individually impaired. | ||||
• | Acquired Loans: We track and report Acquired Loans separately from other impaired loans. | ||||
The majority of individually impaired loans are evaluated for an asset-specific allowance. Although a loan modified in a TDR may be returned to accrual status if the criteria above under “Delinquent and Nonperforming Loans” are met, we would generally continue to report the loan as impaired until maturity. | |||||
We generally measure impairment and the related asset-specific allowance for individually impaired loans based on the difference between the recorded investment of the loan and the present value of the expected future cash flows, discounted at the original effective interest rate of the loan at the time of modification. If the loan is collateral dependent, we measure impairment based upon the fair value of the underlying collateral, which we determine based on the current fair value of the collateral less estimated selling costs, instead of discounted cash flows. Loans are identified as collateral dependent if we believe that collateral is the sole source of repayment. | |||||
Charge-Offs | ' | ||||
Charge-Offs | |||||
Net charge-offs consist of the unpaid principal balance of loans held for investment that we determine are uncollectible, net of recovered amounts. We exclude accrued and unpaid finance charges and fees and fraud losses from charge-offs. Charge-offs are recorded as a reduction to the allowance for loan and lease losses and subsequent recoveries of previously charged off amounts are credited to the allowance for loan and lease losses. Costs incurred to recover charged-off loans are recorded as collection expense and included in our consolidated statements of income as a component of other non-interest expense. Our charge-off time frame for loans, which varies based on the loan type, is presented below. | |||||
• | Credit card loans: We generally charge-off credit card loans in the period the account becomes 180 days past due. During the fourth quarter 2012, we began charging off delinquent credit card loans for which revolving privileges have been revoked as part of a closed end loan workout when the account becomes 120 days past due. Credit card loans in bankruptcy are charged-off by the end of the month upon the receipt of a complete bankruptcy notification from the bankruptcy court. Credit card loans of deceased account holders are charged-off by the end of the month following 60 days of receipt of notification. | ||||
• | Consumer banking loans: We generally charge-off consumer banking loans at the earlier of the date when the account is a specified number of days past due or upon repossession of the underlying collateral. Our charge-off time frame is 180 days for home loans and unsecured small business lines of credit and 120 days for auto and other non-credit card consumer loans. We calculate the initial charge-off amount for home loans based on the excess of our recorded investment in the loan over the fair value of the underlying property less estimated selling costs as of the date of the charge-off. We update our home value estimates on a regular basis and recognize additional charge-offs for subsequent declines in home values. Consumer loans in bankruptcy, except for auto and home loans, generally are charged-off within 40 days of receipt of notification from the bankruptcy court. Auto and home loans in bankruptcy are charged-off in the period that the loan is both 60 days or more past due and 60 days or more past the bankruptcy notification date or in the period the loan becomes 120 days past due for auto loans and 180 days past due for home loans regardless of the bankruptcy notification date. Consumer loans of deceased account holders are charged-off by the end of the month following 60 days of receipt of notification. | ||||
• | Commercial banking loans: We charge-off commercial loans in the period we determine that the unpaid principal loan amounts are uncollectible. | ||||
• | Acquired Loans: We do not record charge-offs on Acquired Loans that are performing in accordance with or better than our expectations as of the date of acquisition, as the fair values of these loans already reflect a credit component. We record charge-offs on impaired loans only if actual losses exceed estimated losses incorporated into the fair value recorded at acquisition. | ||||
Allowance for Loan and Lease Losses | ' | ||||
Allowance for Loan and Lease Losses | |||||
We maintain an allowance for loan and lease losses (“the allowance”) that represents management’s best estimate of incurred loan and lease losses inherent in our held-for-investment portfolio as of each balance sheet date. The provision for credit losses, which is charged to earnings, reflects credit losses we believe have been incurred and will eventually be reflected over time in our charge-offs. Charge-offs of uncollectible amounts are deducted from the allowance and subsequent recoveries are added back. | |||||
Management performs a quarterly analysis of our loan portfolio to determine if impairment has occurred and to assess the adequacy of the allowance based on historical and current trends and other factors affecting credit losses. We apply documented systematic methodologies to separately calculate the allowance for our consumer loan and commercial loan portfolios and for loans within each of these portfolios that we identify as individually impaired. Our allowance for loan and lease losses consists of three components that are allocated to cover the estimated probable losses in each loan portfolio based on the results of our detailed review and loan impairment assessment process: (1) a component for loans collectively evaluated for impairment; (2) an asset-specific component for individually impaired loans; and (3) a component related to Acquired Loans that have experienced significant decreases in expected cash flows subsequent to acquisition. Each of our allowance components is supplemented by an amount that represents management’s qualitative judgment of the imprecision and risks inherent in the processes and assumptions used in establishing the allowance. Management’s judgment involves an assessment of subjective factors, such as process risk, modeling assumption and adjustment risks and probable internal and external events that will likely impact losses. | |||||
Our consumer loan portfolio consists of smaller-balance, homogeneous loans, divided into four primary portfolio segments: credit card loans, auto loans, residential home loans and retail banking loans. Each of these portfolios is further divided by our business units into pools based on common risk characteristics, such as origination year, contract type, interest rate and geography, which are collectively evaluated for impairment. The commercial loan portfolio is primarily composed of larger-balance, non-homogeneous loans. These loans are subject to individual reviews that result in internal risk ratings. In assessing the risk rating of a particular loan, among the factors we consider are the financial condition of the borrower, geography, collateral performance, historical loss experience, and industry-specific information that management believes is relevant in determining the occurrence of a loss event and measuring impairment. These factors are based on an evaluation of historical and current information, and involve subjective assessment and interpretation. Emphasizing one factor over another or considering additional factors could impact the risk rating assigned to that loan. | |||||
The component of the allowance for credit card and other consumer loans that we collectively evaluate for impairment is based on a statistical calculation, which is supplemented by management judgment as described above. Because of the homogeneous nature of our consumer loan portfolios, the allowance is based on the aggregated portfolio segment evaluations. The allowance is established through a process that begins with estimates of incurred losses in each pool based upon various statistical analyses. Loss forecast models are utilized to estimate incurred losses and consider several portfolio indicators including, but not limited to, historical loss experience, account seasoning, the value of collateral underlying secured loans, estimated foreclosures or defaults based on observable trends, delinquencies, bankruptcy filings, unemployment, credit bureau scores and general economic and business trends. Management believes these factors are relevant in estimating incurred losses and also considers an evaluation of overall portfolio credit quality based on indicators such as changes in our credit evaluation, underwriting and collection management policies, changes in the legal and regulatory environment, general economic conditions and business trends and uncertainties in forecasting and modeling techniques used in estimating our allowance. We update our consumer loss forecast models and portfolio indicators on a quarterly basis to incorporate information reflective of the current economic environment. | |||||
The component of the allowance for commercial loans that we collectively evaluate for impairment is based on our historical loss experience for loans with similar risk characteristics and consideration of the current credit quality of the portfolio, which is supplemented by management judgment as described above. We apply internal risk ratings to commercial loans, which we use to assess credit quality and derive a total loss estimate based on an estimated probability of default (default rate) and loss given default (loss severity). Management may also apply judgment to adjust the loss factors derived, taking into consideration both quantitative and qualitative factors, including general economic conditions, specific industry and geographic trends, portfolio concentrations, trends in internal credit quality indicators and current and past underwriting standards that have occurred but are not yet reflected in the historical data underlying our loss estimates. | |||||
The asset-specific component of the allowance covers smaller-balance homogeneous credit card and other consumer loans whose terms have been modified in a TDR and larger balance nonperforming, non-homogeneous commercial loans. As discussed above under “Impaired Loans,” we generally measure the asset-specific component of the allowance based on the difference between the recorded investment of individually impaired loans and the present value of expected future cash flows. When the present value is lower than the carrying value of the loan, impairment is recognized through the provision for credit losses. If the loan is collateral dependent, we measure impairment based upon the fair value of the underlying collateral, which we determine based on the current fair value of the collateral less estimated selling costs, instead of discounted cash flows. The asset-specific component of the allowance for smaller-balance impaired loans is calculated on a pool basis using historical loss experience for the respective class of assets. The asset-specific component of the allowance for larger-balance commercial loans is individually calculated for each loan. Key considerations in determining the allowance include the borrower’s overall financial condition, resources and payment history, prospects for support from financially responsible guarantors, and when applicable, the estimated realizable value of any collateral. | |||||
We record all purchased loans at fair value at acquisition. Applicable accounting guidance prohibits the carry over or creation of valuation allowances in the initial accounting for impaired loans acquired in a transfer. Subsequent to acquisition, decreases in expected principal cash flows of Acquired Loans would trigger the recognition of impairment through our provision for credit losses. Subsequent increases in expected cash flows would first result in a recovery of any previously recorded allowance for loan and lease losses, to the extent applicable, and then increase the accretable yield. Write-downs on purchased impaired loans in excess of the nonaccretable difference are charged against the allowance for loan and lease losses. See “Note 4—Loans” for information on loan portfolios associated with acquisitions. | |||||
In addition to the allowance for loan and lease losses, we also estimate probable losses related to contractually binding unfunded lending commitments, such as letters of credit and financial guarantees, and binding unfunded loan commitments. The provision for unfunded lending commitments is included in the provision for credit losses on our consolidated statements of income and the related reserve for unfunded lending commitments is included in other liabilities on our consolidated balance sheets. Unfunded lending commitments are subject to individual reviews and are analyzed and segregated by risk according to our internal risk rating scale. We assess these risk classifications, in conjunction with historical loss experience, utilization assumptions, current economic conditions, performance trends within specific portfolio segments and other pertinent information to estimate the reserve for unfunded lending commitments. | |||||
Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. Subsequent evaluations of the loan portfolio, in light of the factors then prevailing, may result in significant changes in the allowance for loan and lease losses and the reserve for unfunded lending commitments in future periods. | |||||
Securitization of Loans | ' | ||||
Securitization of Loans | |||||
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 debt securities to third parties. See “Note 6—Variable Interest Entities and Securitizations” for additional details. Loan securitization involves the transfer of a pool of loan receivables from our portfolio to a trust. The trust then sells an undivided interest in the pool of loan receivables to third-party investors through the issuance of debt securities and transfers the proceeds from the debt issuance to us as consideration for the loan receivables transferred. The debt securities are collateralized by the transferred receivables from our portfolio. We remove loans from our consolidated balance sheets when securitizations qualify as sales to non-consolidated VIEs, recognize assets retained and liabilities assumed at fair value and record a gain or loss on the transferred loans. Alternatively, when the transfer does not qualify as a sale but instead is considered a secured borrowing or when the sale is to a consolidated VIE, the asset will remain on our consolidated financial statements with an offsetting liability recognized for the amount of proceeds received. | |||||
Premises and Equipment | ' | ||||
Premises and Equipment | |||||
Land is carried at cost. Properties and equipment, including leasehold improvements, are stated at cost less accumulated depreciation and amortization. We capitalize direct costs incurred during the application development stage of internally developed software projects. Depreciation and amortization expenses are computed generally by the straight-line method over the estimated useful lives of the assets. Useful lives for premises and equipment are estimated as follows: | |||||
Premises & Equipment | Useful Lives | ||||
Buildings and improvement | 5-39 years | ||||
Furniture and equipment | 3-10 years | ||||
Computers and software | 3-7 years | ||||
Leasehold improvements | Lesser of useful life or the remaining fixed non-cancelable lease term | ||||
Expenditures for maintenance and repairs are charged to earnings as incurred. Gains or losses upon disposition are reflected in earnings as realized. | |||||
Goodwill and Other Intangible Assets | ' | ||||
Goodwill and Other Intangible Assets | |||||
Goodwill is not amortized but is tested for impairment, at the reporting unit level, annually or sooner when adverse circumstances indicate that it is more than 50% likely that the carrying amount of goodwill exceeds its implied fair value. A reporting unit is defined as an operating segment or a business one level below an operating segment and goodwill is assigned to one or more reporting units at the date of acquisition. Our reporting units are Domestic Card, International Card, Auto, Other Consumer Banking and Commercial Banking. The goodwill impairment test, performed at October 1 of each year, is a two-step test. The first step identifies whether there is potential impairment by comparing the fair value of a reporting unit to the carrying amount, including goodwill. If impairment exists, the second step of the impairment test is required to measure the amount of any impairment loss. Intangible assets with definite useful lives are amortized either on a straight-line or on an accelerated basis over their estimated useful lives and are evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. See “Note 7—Goodwill and Other Intangible Assets” for additional detail. | |||||
Mortgage Servicing Rights | ' | ||||
Mortgage Servicing Rights | |||||
Mortgage servicing rights are initially recorded at fair value when mortgage loans are sold or securitized in the secondary market and the right to service these loans is retained for a fee. Subsequently, our consumer related mortgage servicing rights (“MSR”) are carried at fair value on our consolidated balance sheets with changes in fair value recognized in non-interest income. Our commercial related MSRs are subsequently measured under the amortization method and are periodically evaluated for impairment, which is recognized as a reduction in non-interest income. See “Note 7—Goodwill and Other Intangible Assets” and “Note 18—Fair Value of Financial Instruments” for additional information. | |||||
Foreclosed Property and Repossessed Assets | ' | ||||
Foreclosed Property and Repossessed Assets | |||||
Foreclosed property and repossessed assets obtained through our lending activities typically include commercial and residential real estate or personal property, such as autos. Upon repossession of property obtained in satisfaction of a loan, we reclassify the loan to repossessed assets and record the acquired property at net realizable value. Net realizable value is the estimated fair value of the underlying collateral less estimated selling costs and is based on appraisals, when available. We routinely monitor and update the net realizable value of acquired property. Any changes in net realizable value and gains or losses realized from disposition of the property are recorded in non-interest expense. See “Note 18—Fair Value of Financial Instruments” for details. | |||||
Restricted Equity Investments | ' | ||||
Restricted Equity Investments | |||||
We have investments in Federal Home Loan Bank (“FHLB”) stock and in the Board of Governors of the Federal Reserve System (the “Federal Reserve”) stock. These investments, which are included in other assets in our consolidated balance sheets, are not marketable and are carried at cost. We assess these investments for OTTI in accordance with applicable accounting guidance for evaluating impairment. See “Note 9—Deposits and Borrowings” for details. | |||||
Representation and Warranty Reserve | ' | ||||
Representation and Warranty Reserve | |||||
In connection with their sales of mortgage loans, certain subsidiaries entered into agreements containing varying representations and warranties about, among other things, the ownership of the loan, the validity of the lien securing the loan, the loan’s compliance with any applicable loan criteria established by the purchaser, including underwriting guidelines and the ongoing existence of mortgage insurance, and the loan’s compliance with applicable federal, state and local laws. We may be required to repurchase the mortgage loan, indemnify the investor or insurer, or reimburse the investor losses incurred on the loan in the event of a material breach of contractual representations or warranties. | |||||
We have established representation and warranty reserves for losses that we consider to be both probable and reasonably estimable associated with the mortgage loans sold by each subsidiary, including both litigation and non-litigation liabilities. The reserve-setting process relies heavily on estimates, which are inherently uncertain, and requires the application of judgment. We evaluate these estimates on a quarterly basis. | |||||
Losses incurred on loans that we are required to either repurchase or make payments to the investor under the indemnification provisions are charged against the representation and warranty reserve. The representation and warranty reserve is included in other liabilities in our consolidated balance sheets. Changes to the representation and warranty reserve related to GreenPoint Mortgage Funding, Inc. (“GreenPoint”) are reported as discontinued operations for all periods presented. See “Note 20—Commitments, Contingencies, Guarantees, and Others” for additional information related to our representation and warranty reserve. | |||||
Customer Rewards Reserve | ' | ||||
Customer Rewards Reserve | |||||
We offer products, primarily credit cards, which include programs that allow members to earn rewards, such as cash, gift cards, airline tickets or merchandise, based on account activity. Customer rewards costs are generally recorded as an offset to interchange income, with a corresponding increase to the customer rewards reserve, when the rewards are earned by the customer. The customer rewards reserve is computed based on the estimated future cost of earned points that are expected to be redeemed and the average cost per point redeemed. The customer rewards reserve is reduced as points are redeemed. In estimating the customer rewards reserve, we consider historical rewards redemption behavior, the terms of the current rewards programs and card purchase activity. The customer rewards reserve is sensitive to changes in the reward redemption type and redemption rate, which is based on the expectation that the vast majority of all points earned will eventually be redeemed. The customer rewards reserve, which is included in other liabilities in our consolidated balance sheets, totaled $2.3 billion and $2.1 billion as of December 31, 2013 and 2012, respectively. | |||||
Revenue Recognition | ' | ||||
Revenue Recognition | |||||
Interest Income and Fees | |||||
We recognize interest income, including finance charges, and fees on loans in interest and non-interest income in our consolidated statements of income in accordance with the contractual provisions of the credit arrangements. Loan origination fees and costs and premiums and discounts are generally deferred and amortized over the average life of the related loans using the effective interest method, except for credit card, which are amortized over 12 months on a straight-line basis. Direct loan origination costs consist of both internal and external costs associated with the origination of a loan. | |||||
Finance charges and fees on credit card loans, net of amounts that we consider uncollectible, are included in loan receivables and revenue when the fees are earned. Annual membership fees are deferred and amortized into income over one year on a straight-line basis. We continue to accrue finance charges and fees on credit card loans until the account is charged-off. Our methodology for estimating the uncollectible portion of billed finance charges and fees is consistent with the methodology we use to estimate the allowance for incurred principal losses on our credit card loan receivables. | |||||
Interchange Income | |||||
Interchange income represents merchant fees for credit card transactions processed through the MasterCard® (“MasterCard”) and Visa® (“Visa”) interchange network due to the customer’s card-issuing bank, which is net of the fee retained by the merchant’s processing bank. The levels and structure of interchange rates are set by MasterCard and Visa are based on cardholder purchase volumes. We recognize interchange income as earned at the time of purchase. | |||||
Same-as-Cash Promotions | ' | ||||
Same-as-Cash Promotions | |||||
As part of certain retail partnership agreements, we offer borrowers a same-as-cash (“SAC”) promotional period during which a minimum monthly payment is due. As part of a SAC promotional program, a borrower has a period of time, typically ranging from six months to three years, to pay the principal balance in full without incurring an interest charge. If the borrower does not pay the principal balance in full prior to the expiration date of the SAC promotional period, interest charges are applied retroactive to the purchase date. | |||||
We accrue SAC interest income on a monthly basis throughout the term of the SAC period based on the amount we expect to collect. Accordingly, we do not accrue interest income for borrowers who we expect will pay their principal balance in full prior to the expiration of the SAC period or for borrowers who we expect will be unable to pay the full amount. | |||||
Card Partnership Agreements | ' | ||||
Card Partnership Agreements | |||||
Our partnership agreements relate to alliances with retailers and other partners to provide lending and other services to mutual customers. We primarily issue private-label and co-branded credit card loans to these customers over the term of these arrangements, which typically range from two to ten years. | |||||
Certain partners assist in or perform marketing activities on our behalf and promote our products and services to their customers. As compensation for providing these services, we often pay royalties, bounties, or other special bonuses to these partners. Depending upon the nature of the payments, they are recorded as a reduction of revenue, marketing expenses or other operating expenses. | |||||
If a partnership agreement provides for profit, revenue or loss sharing payments, we must determine whether to report those payments on a gross or net basis in our consolidated financial statements. We evaluate the contractual provisions of each transaction and applicable accounting guidance to determine the manner in which to report the impact of sharing arrangements in our consolidated financial statements. Our consolidated net income is the same regardless of whether revenue and loss sharing arrangements are reported on a gross or net basis. | |||||
Collaborative Arrangements | |||||
A collaborative arrangement is a contractual arrangement that involves a joint operating activity between two or more parties that are active participants in the activity. These parties are exposed to significant risks and rewards based upon the economic success of the joint operating activity. We assess each of our partnership agreements with profit, revenue or loss sharing payments to determine if a collaborative arrangement exists and, if so, how revenue generated from third parties, costs incurred and transactions between participants in the collaborative arrangement should be accounted for and reported in our consolidated financial statements. | |||||
Pursuant to a partnership agreement that we entered into in August 2010 with Kohl’s Department Stores (“Retailer”), we acquired the Retailer’s existing private-label credit card loan portfolio and began issuing the Retailer’s branded private-label credit cards to new and existing customers in April 2011. The Retailer’s partnership agreement has an initial seven-year term and an automatic one-year renewal thereafter. Risk management decisions are jointly managed by the Retailer and us, but we retain final authority over risk management decisions. The Retailer has primary responsibility for handling customer service functions and advertising and marketing related to credit card customers. | |||||
Based on our assessment, we determined that the Retailer’s partnership agreement meets the definition of a collaborative arrangement. None of our other partnership agreements are considered to be collaborative arrangements. | |||||
We share a fixed percentage of revenues, consisting of finance charges and late fees, with the Retailer, and the Retailer is required to reimburse us for a fixed percentage of credit losses incurred. Revenues and losses related to the Retailer’s credit card program and partnership agreement are reported on a net basis in our consolidated financial statements. Revenue sharing amounts attributable to the Retailer are recorded as an offset against total net revenue in our consolidated statements of income. The loss sharing amounts due from the Retailer are recorded as a reduction in our provision for credit losses in our consolidated statements of income. The allowance for loan and lease losses attributable to the Retailer’s portfolio is reduced by the loss sharing amount due from the Retailer. | |||||
Interest income was reduced by $965 million, $885 million, and $607 million in 2013, 2012, and 2011, respectively, for amounts earned by the Retailer, as part of the revenue sharing agreement. Loss sharing amounts attributable to the Retailer, reduced charge-offs by $161 million, $167 million, and $118 million in 2013, 2012, and 2011, respectively. The reduction in the provision for loan and lease losses attributable to the Retailer, was $119 million, $199 million, and $257 million in 2013, 2012 and 2011, respectively. The expected reimbursement from the Retailer, which is netted against our allowance for loan and lease losses, was approximately $128 million, $170 million and $139 million as of December 31, 2013, 2012, and 2011, respectively. | |||||
Stock-Based Compensation | ' | ||||
Stock-Based Compensation | |||||
We reserve common shares for issuance to employees, directors and third-party service providers, in various forms, including incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards and units and performance share awards and units. In addition, we also issue cash equity units and cash-settled restricted stock units which are not counted against the common shares reserved for issuance or available for issuance because they are settled in cash. For awards settled in shares, we generally recognize compensation expense on a straight-line basis over the award’s service period. If an award settled in shares contains a performance condition with graded vesting, we recognize compensation expense using the accelerated attribution method. Cash-settled equity and restricted stock units are accounted for as liability awards which results in quarterly expense fluctuations based on changes in our stock price through the date that the awards are settled. Awards that continue to vest after retirement are expensed over the shorter of the period of time between the grant date and the final vesting period or between the grant date and when the participant becomes retirement eligible; awards to participants who are retirement eligible at the grant date are subject to immediate expensing upon grant. Stock-based compensation expense is included in salaries and associate benefits on the consolidated statements of income. | |||||
Stock-based compensation expense for stock options is based on the grant date fair value, which is estimated using a Black-Scholes option pricing model. Significant judgment is required when determining the inputs into the fair value model and the expected forfeiture rate of stock options. Aside from stock options, the fair value of stock-based compensation used in determining compensation expense will generally equal the fair market value of our common stock on the date of grant. | |||||
Marketing Expense | ' | ||||
Marketing Expense | |||||
We expense marketing costs as incurred. Television advertising costs are expensed during the period in which the advertisements are aired. We recognized marketing expense of $1.4 billion in both 2013 and 2012, respectively. We recognized marketing expense of $1.3 billion in 2011. | |||||
Fraud Losses | ' | ||||
Fraud Losses | |||||
We experience fraud losses from the unauthorized use of credit cards, debit cards and customer bank accounts. Additional fraud losses may be incurred when loans are obtained through fraudulent means. Transactions suspected of being fraudulent are recorded in our consolidated statements of income as a component of non-interest expense after the investigation period has completed. Recoveries of fraud losses are also included in non-interest expense. See “Note 14—Other Non-Interest Expense” for additional information. | |||||
Income Taxes | ' | ||||
Income Taxes | |||||
We account for income taxes in accordance with the accounting guidance for income taxes, recognizing the current and deferred tax consequences of all transactions that have been recognized in the financial statements using the provisions of the enacted tax laws. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. We record valuation allowances to reduce deferred tax assets to the amount that is more likely than not to be realized. See “Note 17—Income Taxes” for additional detail. | |||||
Earnings Per Share | ' | ||||
Earnings Per Share | |||||
We have unvested share-based payment awards which have a right to receive nonforfeitable dividends. These share-based payment awards are deemed to be participating securities. As a result, earnings per share is reported under the “two-class” method. The “two-class” method is an earnings allocation method under which earnings per share is calculated for each class of common stock and participating security considering both dividends declared (or accumulated) and participation rights in undistributed earnings as if all such earnings had been distributed during the period. | |||||
Earnings per common share is calculated by dividing net income, after deducting dividends on preferred stock and undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period, net of any treasury shares. We calculate diluted earnings per share by dividing net income, after deducting dividends on preferred stock and undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents (for example, warrants, stock options, restricted stock awards and units and performance share awards and units). Common stock equivalents are calculated based upon the treasury stock method using an average market price of common shares sold during the period. Dilution is not considered when the company is in a net loss position. Common stock equivalents that have an antidilutive effect are excluded from the computation of diluted earnings per share. | |||||
Derivative Instruments and Hedging Activities | ' | ||||
Derivative Instruments and Hedging Activities | |||||
All derivative financial instruments, whether designated for hedge accounting or not, are reported at their fair value on our consolidated balance sheets as either assets or liabilities. We report derivatives in a gain position, or derivative assets, in our consolidated balance sheets as a component of other assets. We report derivatives in a loss position, or derivative liabilities, in our consolidated balance sheets as a component of other liabilities. We report derivative asset and liability amounts on a gross basis based on individual contracts, which does not take into consideration the effects of master counterparty netting agreements or collateral netting. See “Note 10—Derivative Instruments and Hedging Activities” for additional detail on the accounting for derivative instruments, including those designated as qualifying for hedge accounting. | |||||
Fair Value | ' | ||||
Fair Value | |||||
Fair value 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 (also referred to as an exit price). The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. Fair value measurement of a financial asset or liability is assigned to 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: | Quoted prices (unadjusted) in active markets for identical assets or liabilities | ||||
Level 2: | Observable market-based inputs, other than quoted prices in active markets for identical assets or liabilities | ||||
Level 3: | Unobservable inputs | ||||
The accounting guidance for fair value requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. 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 into earnings. We have not made any material fair value option elections as of and for the years ended December 31, 2013, 2012 and 2011. See “Note 18—Fair Value of Financial Instruments” for additional information. | |||||
Accounting for Acquisitions | ' | ||||
Accounting for Acquisitions | |||||
We account for business combinations under the acquisition method of accounting. Under the acquisition method, tangible and intangible identifiable assets acquired, liabilities assumed and any noncontrolling interest in the acquiree are recorded at fair value as of the acquisition date, with limited exceptions. Transaction costs and costs to restructure the acquired company are expensed as incurred. Goodwill is recognized as the excess of the acquisition price over the estimated fair value of the net assets acquired. Likewise, if the fair value of the net assets acquired is greater than the acquisition price, a bargain purchase gain is recognized and recorded in non-interest income. | |||||
If the acquired set of activities and assets does not meet the accounting definition of a business, the transaction is accounted for as an asset acquisition. In an asset acquisition, the assets acquired are recorded at the purchase price plus any transaction costs incurred and, therefore, no goodwill is recognized. | |||||
New Accounting Standards | ' | ||||
Accounting Standards Adopted in 2013 | |||||
New Benchmark Interest Rate for Hedge Accounting Purposes | |||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued guidance permitting the use of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate, “OIS”) as a benchmark interest rate for hedge accounting purposes. The addition of OIS expands the number of benchmark interest rates to three, including the US Treasury rate and London Interbank Offered Rate swap rate. The guidance also removes the previous restriction on using different benchmark rates for similar hedges. The guidance is effective for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. See “Note 10—Derivative Instruments and Hedging Activities” for further details regarding the impact derivative contracts designated as qualifying accounting hedges have on our financial condition and results of operations. | |||||
Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | |||||
In February 2013, the FASB issued new guidance requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. The new guidance does not change the items which must be reported in other comprehensive income, how such items are measured or when they must be reclassified from other comprehensive income to net income. The guidance was effective for reporting periods beginning after December 15, 2012. Our adoption of the guidance on January 1, 2013 had no impact on our financial condition, results of operations or liquidity as it only affects our disclosures. See “Note 11—Stockholders’ Equity” for further details. | |||||
Offsetting Financial Assets and Liabilities | |||||
Effective January, 2013, we were required to disclose both gross and net information about instruments and transactions eligible for offset on the balance sheet as well as instruments and transactions subject to an agreement similar to a master netting arrangement. The disclosures are required irrespective of whether such instruments are presented gross or net on the balance sheet. The guidance was effective for annual and interim reporting periods beginning on or after January 1, 2013, with comparative retrospective disclosures required for all periods presented. Our adoption of the guidance had no effect on our financial condition, results of operations or liquidity as it only affects our disclosures. See “Note 10—Derivative Instruments and Hedging Activities” for further details. | |||||
Recently Issued but Not Yet Adopted Accounting Standards | |||||
Obligations Resulting from Joint and Several Liability Arrangements | |||||
In February 2013, the FASB issued guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation, within the scope of this guidance, is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance clarifies that an entity shall measure obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The guidance is effective for annual and interim periods beginning after December 15, 2013, with early adoption permitted. We do not expect our adoption of this guidance in the first quarter of 2014 to have a significant effect on our financial condition, results of operations or liquidity as the guidance is consistent with our current practice. | |||||
Reclassification of Collateralized Mortgage Loan Upon Foreclosure | |||||
In January 2014, the FASB issued guidance clarifying when an entity should reclassify a consumer mortgage loan collateralized by residential real estate to foreclosed property. Reclassification should occur when the creditor obtains legal title to the residential real estate property or when the borrower conveys all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. An entity should not wait until a redemption period, if any, has expired to reclassify a consumer mortgage loan to foreclosed property. The guidance is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted. We do not expect our adoption of this guidance in the first quarter of 2015 to have a significant effect on our financial condition, results of operations or liquidity as the guidance is materially consistent with our current practice. | |||||
Accounting for Investments in Qualified Affordable Housing Projects | |||||
In January 2014, the FASB issued guidance permitting an entity to account for investments in qualified affordable housing projects using the proportional amortization method if certain criteria are met. The proportional method amortizes the cost of the investment over the period in which the investor receives tax credits and other tax benefits, and the resulting amortization is recognized as a component of income taxes attributable to continuing operations. The guidance is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted and retrospective application required. We are currently evaluating the guidance and plan to adopt as of January 1, 2014. Based upon our current interpretation of the implementation guidance, we expect the adoption to reduce our retained earnings by less than $250 million. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Useful Lives for Premises and Equipment | ' | ||
Useful lives for premises and equipment are estimated as follows: | |||
Premises & Equipment | Useful Lives | ||
Buildings and improvement | 5-39 years | ||
Furniture and equipment | 3-10 years | ||
Computers and software | 3-7 years | ||
Leasehold improvements | Lesser of useful life or the remaining fixed non-cancelable lease term |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
Summary of Results from Discontinued Operations | ' | ||||||||||||
The following table summarizes the results from discontinued operations related to the closure of the mortgage origination operations of out wholesale mortgage banking unit: | |||||||||||||
Table 2.1: Results of Discontinued Operations | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Non-interest expense, net | $ | (371 | ) | $ | (343 | ) | $ | (168 | ) | ||||
Loss from discontinued operations before taxes | (371 | ) | (343 | ) | (168 | ) | |||||||
Income tax benefit | (138 | ) | (126 | ) | (62 | ) | |||||||
Loss from discontinued operations | $ | (233 | ) | $ | (217 | ) | $ | (106 | ) | ||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Investment Portfolio | ' | ||||||||||||||||||||||||
The table below presents the overview of our investment portfolio at December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.1 Overview of Investment Portfolio | |||||||||||||||||||||||||
(Dollars in millions) | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Securities available for sale, at fair value | $ | 41,800 | $ | 63,979 | |||||||||||||||||||||
Securities held to maturity, at carrying value | 19,132 | 9 | |||||||||||||||||||||||
Total investments | $ | 60,932 | $ | 63,988 | |||||||||||||||||||||
Schedule of Available-for-Sale Securities | ' | ||||||||||||||||||||||||
Table 3.2 Investment Securities Available for Sale | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses(1) | ||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 831 | $ | 2 | $ | 0 | $ | 833 | |||||||||||||||||
U.S. Agency debt obligations | 1 | 0 | 0 | 1 | |||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 1,282 | 1 | (49 | ) | 1,234 | ||||||||||||||||||||
Residential mortgage-backed securities (“RMBS”): | |||||||||||||||||||||||||
Agency | 21,572 | 239 | (332 | ) | 21,479 | ||||||||||||||||||||
Non-agency | 3,165 | 450 | (15 | ) | 3,600 | ||||||||||||||||||||
Total RMBS | 24,737 | 689 | (347 | ) | 25,079 | ||||||||||||||||||||
Commercial mortgage-backed securities (“CMBS”): | |||||||||||||||||||||||||
Agency | 4,262 | 20 | (84 | ) | 4,198 | ||||||||||||||||||||
Non-agency | 1,854 | 14 | (60 | ) | 1,808 | ||||||||||||||||||||
Total CMBS | 6,116 | 34 | (144 | ) | 6,006 | ||||||||||||||||||||
Other assets backed securities (“ABS”)(2) | 7,123 | 49 | (36 | ) | 7,136 | ||||||||||||||||||||
Other securities(3) | 1,542 | 24 | (55 | ) | 1,511 | ||||||||||||||||||||
Total investment securities available for sale | $ | 41,632 | $ | 799 | $ | (631 | ) | $ | 41,800 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses(1) | ||||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 1,548 | $ | 4 | $ | 0 | $ | 1,552 | |||||||||||||||||
U.S. Agency debt obligations | 301 | 2 | (1 | ) | 302 | ||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 1,003 | 10 | (1 | ) | 1,012 | ||||||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 39,408 | 652 | (58 | ) | 40,002 | ||||||||||||||||||||
Non-agency | 3,607 | 312 | (48 | ) | 3,871 | ||||||||||||||||||||
Total RMBS | 43,015 | 964 | (106 | ) | 43,873 | ||||||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 6,045 | 103 | (4 | ) | 6,144 | ||||||||||||||||||||
Non-agency | 1,425 | 62 | (2 | ) | 1,485 | ||||||||||||||||||||
Total CMBS | 7,470 | 165 | (6 | ) | 7,629 | ||||||||||||||||||||
Other ABS(2) | 8,393 | 70 | (5 | ) | 8,458 | ||||||||||||||||||||
Other securities(3) | 1,120 | 34 | (1 | ) | 1,153 | ||||||||||||||||||||
Total investment securities available for sale | $ | 62,850 | $ | 1,249 | $ | (120 | ) | $ | 63,979 | ||||||||||||||||
-1 | Includes non-credit related OTTI losses recorded in AOCI of $12 million and $38 million as of December 31, 2013 and 2012, respectively, substantially all of which is related to non-agency RMBS. | ||||||||||||||||||||||||
-2 | The ABS collateralized by credit card loans constituted approximately 65% and 64% of the other ABS portfolio as of December 31, 2013, and 2012, respectively, and ABS collateralized by auto dealer floor plan inventory loans and leases constituted approximately 15% and 18% of the other ABS portfolio as of December 31, 2013, and 2012, respectively. Approximately 87% of the securities in our other asset-backed security portfolio were rated AAA or its equivalent as of December 31, 2013, compared with 82% as of December 31, 2012. | ||||||||||||||||||||||||
-3 | Includes foreign government/agency bonds, covered bonds, corporate securities, municipal securities and equity investments primarily related to activities under the Community Reinvestment Act (“CRA”). | ||||||||||||||||||||||||
Investment Securities Held to Maturity | ' | ||||||||||||||||||||||||
The table below presents the carrying value, gross unrealized gains and losses, and fair value of securities held to maturity at December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.3 Investment Securities Held to Maturity | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Unrealized | Carrying | Gross | Gross | Fair | |||||||||||||||||||
Cost | Losses | Value | Unrealized | Unrealized | Value | ||||||||||||||||||||
Recorded | Gains | Losses | |||||||||||||||||||||||
in AOCI(1) | |||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||
RMBS | |||||||||||||||||||||||||
Agency | $ | 18,746 | $ | (1,303 | ) | $ | 17,443 | $ | 72 | $ | (30 | ) | $ | 17,485 | |||||||||||
CMBS | |||||||||||||||||||||||||
Agency | 1,821 | (132 | ) | 1,689 | 16 | (5 | ) | 1,700 | |||||||||||||||||
Total investment securities held to maturity | $ | 20,567 | $ | (1,435 | ) | $ | 19,132 | $ | 88 | $ | (35 | ) | $ | 19,185 | |||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Unrealized | Carrying | Gross | Gross | Fair | |||||||||||||||||||
Cost | Losses | Value | Unrealized | Unrealized | Value | ||||||||||||||||||||
Recorded | Gains | Losses | |||||||||||||||||||||||
in AOCI(1) | |||||||||||||||||||||||||
Investment securities held to maturity: | |||||||||||||||||||||||||
Other ABS | $ | 9 | $ | 0 | $ | 9 | $ | 0 | $ | 0 | $ | 9 | |||||||||||||
Total investment securities held to maturity | $ | 9 | $ | 0 | $ | 9 | $ | 0 | $ | 0 | $ | 9 | |||||||||||||
(1) | Represents the unrealized holding gain or loss at the date of transfer from available for sale to held to maturity, net of any accretion. | ||||||||||||||||||||||||
Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position | ' | ||||||||||||||||||||||||
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 December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||
Table 3.4: Securities in Unrealized Loss Position | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
(Dollars in millions) | Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | |||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | $ | 1,143 | $ | (47 | ) | $ | 46 | $ | (2 | ) | $ | 1,189 | $ | (49 | ) | ||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 9,769 | (263 | ) | 1,770 | (69 | ) | 11,539 | (332 | ) | ||||||||||||||||
Non-agency | 454 | (10 | ) | 56 | (5 | ) | 510 | (15 | ) | ||||||||||||||||
Total RMBS | 10,223 | (273 | ) | 1,826 | (74 | ) | 12,049 | (347 | ) | ||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 2,842 | (74 | ) | 256 | (10 | ) | 3,098 | (84 | ) | ||||||||||||||||
Non-agency | 952 | (43 | ) | 183 | (17 | ) | 1,135 | (60 | ) | ||||||||||||||||
Total CMBS | 3,794 | (117 | ) | 439 | (27 | ) | 4,233 | (144 | ) | ||||||||||||||||
Other ABS | 2,528 | (34 | ) | 392 | (2 | ) | 2,920 | (36 | ) | ||||||||||||||||
Other securities | 1,149 | (51 | ) | 57 | (4 | ) | 1,206 | (55 | ) | ||||||||||||||||
Total investment securities available for sale in a gross unrealized loss position | $ | 18,837 | $ | (522 | ) | $ | 2,760 | $ | (109 | ) | $ | 21,597 | $ | (631 | ) | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
(Dollars in millions) | Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | |||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
Investment securities available for sale: | |||||||||||||||||||||||||
U.S. Agency debt obligations | $ | 199 | $ | (1 | ) | $ | 0 | $ | 0 | $ | 199 | $ | (1 | ) | |||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 172 | (1 | ) | 0 | 0 | 172 | (1 | ) | |||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 8,720 | (46 | ) | 884 | (12 | ) | 9,604 | (58 | ) | ||||||||||||||||
Non-agency | 196 | (19 | ) | 471 | (29 | ) | 667 | (48 | ) | ||||||||||||||||
Total RMBS | 8,916 | (65 | ) | 1,355 | (41 | ) | 10,271 | (106 | ) | ||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 1,009 | (4 | ) | 0 | 0 | 1,009 | (4 | ) | |||||||||||||||||
Non-agency | 201 | (2 | ) | 0 | 0 | 201 | (2 | ) | |||||||||||||||||
Total CMBS | 1,210 | (6 | ) | 0 | 0 | 1,210 | (6 | ) | |||||||||||||||||
Other ABS | 1,102 | (4 | ) | 99 | (1 | ) | 1,201 | (5 | ) | ||||||||||||||||
Other securities | 103 | 0 | 13 | (1 | ) | 116 | (1 | ) | |||||||||||||||||
Total investment securities available for sale in a gross unrealized loss position | $ | 11,702 | $ | (77 | ) | $ | 1,467 | $ | (43 | ) | $ | 13,169 | $ | (120 | ) | ||||||||||
Schedule of Contractual Maturities for Available for Sale Securities | ' | ||||||||||||||||||||||||
The following tables summarizes the remaining scheduled contractual maturities, assuming no prepayments, of our investment securities as of December 31, 2013: | |||||||||||||||||||||||||
Table 3.5: Contractual Maturities of Securities Available for Sale | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Amortized | Fair Value | |||||||||||||||||||||||
Cost | |||||||||||||||||||||||||
Due in 1 year or less | $ | 1,876 | $ | 1,879 | |||||||||||||||||||||
Due after 1 year through 5 years | 5,668 | 5,673 | |||||||||||||||||||||||
Due after 5 years through 10 years | 4,204 | 4,112 | |||||||||||||||||||||||
Due after 10 years(1) | 29,884 | 30,136 | |||||||||||||||||||||||
Total | $ | 41,632 | $ | 41,800 | |||||||||||||||||||||
(1) | Investments with no stated maturities, which consist of equity securities, are included with contractual maturities due after 10 years. | ||||||||||||||||||||||||
Schedule of Contractual Maturities of Securities Held to Maturity | ' | ||||||||||||||||||||||||
Table 3.6: Contractual Maturities of Securities Held to Maturity | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Carrying | Fair Value | |||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due after 5 years through 10 years | $ | 1,062 | $ | 1,076 | |||||||||||||||||||||
Due after 10 years | 18,070 | 18,109 | |||||||||||||||||||||||
Total | $ | 19,132 | $ | 19,185 | |||||||||||||||||||||
Schedule of Expected Maturities and Weighted Average Yields of Investment Securities by Major Security Type | ' | ||||||||||||||||||||||||
The table below summarizes, by major security type, the expected maturities and the expected weighted average yields of our investment securities as of December 31, 2013. | |||||||||||||||||||||||||
Table 3.7: Expected Maturities and Weighted Average Yields of Securities | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Due in 1 Year | Due > 1 Year | Due > 5 Years | Due > 10 Years | Total | |||||||||||||||||||||
or Less | through | through | |||||||||||||||||||||||
5 Years | 10 Years | ||||||||||||||||||||||||
(Dollars in millions) | Amount | Amount | Amount | Amount | Amount | ||||||||||||||||||||
Fair value of securities available for sale: | |||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 663 | $ | 170 | $ | 0 | $ | 0 | $ | 833 | |||||||||||||||
U.S. Agency debt obligations | 1 | 0 | 0 | 0 | 1 | ||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 0 | 220 | 1,001 | 13 | 1,234 | ||||||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | 94 | 5,721 | 15,664 | 0 | 21,479 | ||||||||||||||||||||
Non-agency | 42 | 1,605 | 1,547 | 406 | 3,600 | ||||||||||||||||||||
Total RMBS | 136 | 7,326 | 17,211 | 406 | 25,079 | ||||||||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 358 | 2,884 | 956 | 0 | 4,198 | ||||||||||||||||||||
Non-agency | 110 | 481 | 1,199 | 18 | 1,808 | ||||||||||||||||||||
Total CMBS | 468 | 3,365 | 2,155 | 18 | 6,006 | ||||||||||||||||||||
Other ABS | 1,580 | 4,628 | 808 | 120 | 7,136 | ||||||||||||||||||||
Other securities(1) | 174 | 503 | 718 | 116 | 1,511 | ||||||||||||||||||||
Total securities available for sale | 3,022 | 16,212 | 21,893 | 673 | 41,800 | ||||||||||||||||||||
Amortized cost of securities available for sale | $ | 3,019 | $ | 16,028 | $ | 22,001 | $ | 584 | $ | 41,632 | |||||||||||||||
Weighted average yield for securities available for sale(2) | 1.25 | % | 2.29 | % | 2.68 | % | 7.57 | % | 2.5 | % | |||||||||||||||
Carrying value of securities held to maturity: | |||||||||||||||||||||||||
RMBS: | |||||||||||||||||||||||||
Agency | $ | 0 | $ | 0 | $ | 11,845 | $ | 5,598 | $ | 17,443 | |||||||||||||||
CMBS: | |||||||||||||||||||||||||
Agency | 0 | 400 | 1,281 | 8 | 1,689 | ||||||||||||||||||||
Total securities held for maturity | 0 | 400 | 13,126 | 5,606 | 19,132 | ||||||||||||||||||||
Fair value of securities held to maturity | $ | 0 | $ | 400 | $ | 13,164 | $ | 5,621 | $ | 19,185 | |||||||||||||||
Weighted average yield for securities held to maturity(2) | 0 | % | 3.46 | % | 3.09 | % | 3.33 | % | 3.17 | % | |||||||||||||||
(1) | Yields of tax-exempt securities are calculated on a fully taxable-equivalent (“FTE”) basis. | ||||||||||||||||||||||||
(2) | Yields are calculated based on the amortized cost of each security. | ||||||||||||||||||||||||
Schedule of Credit Losses Related to Debt Securities Recognized in Earnings | ' | ||||||||||||||||||||||||
The table below presents activity for the years ended December 31, 2013, 2012 and 2011, related to the credit component of OTTI recognized in earnings on debt securities: | |||||||||||||||||||||||||
Table 3.8 Credit Impairment Rollforward | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Credit loss component, beginning of period | $ | 120 | $ | 68 | $ | 49 | |||||||||||||||||||
Additions: | |||||||||||||||||||||||||
Initial credit impairment | 14 | 22 | 3 | ||||||||||||||||||||||
Subsequent credit impairment | 27 | 30 | 18 | ||||||||||||||||||||||
Total additions | 41 | 52 | 21 | ||||||||||||||||||||||
Reductions: | |||||||||||||||||||||||||
Payoff or sales of credit-impaired securities | (1 | ) | 0 | (2 | ) | ||||||||||||||||||||
Credit loss component, end of period | $ | 160 | $ | 120 | $ | 68 | |||||||||||||||||||
Schedule of Gross Realized Gains and Losses on Sale and Redemption of Available-for-Sale Securities Recognized in Earnings | ' | ||||||||||||||||||||||||
The following table presents the gross realized gains and losses on the sale and redemption of securities available for sale recognized in earnings for the years ended December 31, 2013, 2012 and 2011. The gross realized investment losses presented below exclude credit losses recognized in earnings attributable to OTTI. 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 held to maturity. | |||||||||||||||||||||||||
Table 3.9: Realized Gains and Losses on Securities Available for Sale | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Gross realized investment gains | $ | 8 | $ | 56 | $ | 259 | |||||||||||||||||||
Gross realized investment losses | (1 | ) | (11 | ) | 0 | ||||||||||||||||||||
Net realized gains | $ | 7 | $ | 45 | $ | 259 | |||||||||||||||||||
Total proceeds from sales | $ | 2,539 | $ | 16,894 | $ | 9,169 | |||||||||||||||||||
Schedule of Outstanding Contractual Balance and Carrying Value of Credit-Impaired ING Direct Debt Securities | ' | ||||||||||||||||||||||||
The table below presents the outstanding contractual balance and the carrying value of the acquired credit-impaired investment debt securities as of December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 3.10: Outstanding Balance and Carrying Value of Acquired Securities | |||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Contractual principal and interest | $ | 4,700 | $ | 5,242 | |||||||||||||||||||||
Carrying value | 2,896 | 2,887 | |||||||||||||||||||||||
Amortized Cost | 2,432 | 2,585 | |||||||||||||||||||||||
Schedule of Changes in Accretable Yield of Acquired Securities | ' | ||||||||||||||||||||||||
The following table presents changes in the accretable yield related to the acquired credit-impaired debt securities: | |||||||||||||||||||||||||
Table 3.11: Changes in Accretable Yield of Acquired Securities | |||||||||||||||||||||||||
(Dollars in millions) | Purchased | ||||||||||||||||||||||||
Credit-Impaired | |||||||||||||||||||||||||
Securities | |||||||||||||||||||||||||
Accretable yield as of December 31, 2011 | $ | 0 | |||||||||||||||||||||||
Additions from new acquisitions(1) | 1,743 | ||||||||||||||||||||||||
Accretion recognized in earnings | (202 | ) | |||||||||||||||||||||||
Reductions due to disposals, transfers, and other | 0 | ||||||||||||||||||||||||
Net reclassifications (to)/from nonaccretable difference | (29 | ) | |||||||||||||||||||||||
Accretable yield as of December 31, 2012 | $ | 1,512 | |||||||||||||||||||||||
Additions from new acquisitions | 88 | ||||||||||||||||||||||||
Accretion recognized in earnings | (247 | ) | |||||||||||||||||||||||
Reduction due to disposals, transfers, and other | (2 | ) | |||||||||||||||||||||||
Net reclassifications (to)/from nonaccretable difference | 72 | ||||||||||||||||||||||||
Accretable yield as of December 31, 2013 | $ | 1,423 | |||||||||||||||||||||||
-1 | Includes securities acquired in the ING Direct acquisition as well as other securities purchased. |
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Composition of Loans Held-for-Investment Portfolio | ' | ||||||||||||||||||||||||||||||||||||
Table 4.1 below presents the composition of our portfolio of loans held for investment, which includes restricted loans for securitization investors, as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.1: Loan Portfolio Composition | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card loans | $ | 72,932 | $ | 82,328 | |||||||||||||||||||||||||||||||||
International credit card loans | 8,050 | 8,614 | |||||||||||||||||||||||||||||||||||
Total credit card loans | 80,982 | 90,942 | |||||||||||||||||||||||||||||||||||
Domestic installment loans | 323 | 813 | |||||||||||||||||||||||||||||||||||
Total credit card | 81,305 | 91,755 | |||||||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 31,857 | 27,123 | |||||||||||||||||||||||||||||||||||
Home loan | 35,282 | 44,100 | |||||||||||||||||||||||||||||||||||
Retail banking | 3,623 | 3,904 | |||||||||||||||||||||||||||||||||||
Total consumer banking | 70,762 | 75,127 | |||||||||||||||||||||||||||||||||||
Commercial Banking:(1) | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 20,750 | 17,732 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 23,309 | 19,892 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 44,059 | 37,624 | |||||||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 952 | 1,196 | |||||||||||||||||||||||||||||||||||
Total commercial banking | 45,011 | 38,820 | |||||||||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other loans | 121 | 187 | |||||||||||||||||||||||||||||||||||
Total loans | $ | 197,199 | $ | 205,889 | |||||||||||||||||||||||||||||||||
-1 | Includes construction loans and land development loans totaling $2.0 billion and $2.1 billion as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||||||
Aging of Held-for-Investment Loans by Portfolio Segment and Class | ' | ||||||||||||||||||||||||||||||||||||
The following table summarizes the payment status of loans in our total loan portfolio, including an aging of delinquent loans, loans 90 days or more past due that continue to accrue interest and loans classified as nonperforming. We present the information below on the credit performance of our loan portfolio, by major loan category, including key metrics that we use in tracking changes in the credit quality of each of our loan portfolios. The delinquency aging includes all past due loans, both performing and nonperforming, as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.2: Credit Quality | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Current | 30-59 | 60-89 | > 90 | Total | Acquired | Total | > 90 Days | Nonperforming | ||||||||||||||||||||||||||||
Days | Days | Days | Delinquent | Loans | Loans | and | Loans(1) | ||||||||||||||||||||||||||||||
Loans | Accruing(1) | ||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 70,678 | $ | 778 | $ | 549 | $ | 1,187 | $ | 2,514 | $ | 63 | $ | 73,255 | $ | 1,187 | $ | 0 | |||||||||||||||||||
International credit card | 7,683 | 141 | 85 | 141 | 367 | 0 | 8,050 | 96 | 88 | ||||||||||||||||||||||||||||
Total credit card | 78,361 | 919 | 634 | 1,328 | 2,881 | 63 | 81,305 | 1,283 | 88 | ||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 29,477 | 1,519 | 662 | 194 | 2,375 | 5 | 31,857 | 0 | 194 | ||||||||||||||||||||||||||||
Home loan | 6,775 | 60 | 24 | 239 | 323 | 28,184 | 35,282 | 0 | 376 | ||||||||||||||||||||||||||||
Retail banking | 3,535 | 21 | 8 | 23 | 52 | 36 | 3,623 | 2 | 41 | ||||||||||||||||||||||||||||
Total consumer banking | 39,787 | 1,600 | 694 | 456 | 2,750 | 28,225 | 70,762 | 2 | 611 | ||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 20,602 | 17 | 11 | 36 | 64 | 84 | 20,750 | 2 | 52 | ||||||||||||||||||||||||||||
Commercial and industrial | 23,023 | 69 | 1 | 38 | 108 | 178 | 23,309 | 4 | 93 | ||||||||||||||||||||||||||||
Total commercial lending | 43,625 | 86 | 12 | 74 | 172 | 262 | 44,059 | 6 | 145 | ||||||||||||||||||||||||||||
Small-ticket commercial real estate | 941 | 8 | 2 | 1 | 11 | 0 | 952 | 0 | 4 | ||||||||||||||||||||||||||||
Total commercial banking | 44,566 | 94 | 14 | 75 | 183 | 262 | 45,011 | 6 | 149 | ||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other loans | 102 | 4 | 2 | 13 | 19 | 0 | 121 | 0 | 19 | ||||||||||||||||||||||||||||
Total | $ | 162,816 | $ | 2,617 | $ | 1,344 | $ | 1,872 | $ | 5,833 | $ | 28,550 | $ | 197,199 | $ | 1,291 | $ | 867 | |||||||||||||||||||
% of Total loans | 82.5 | % | 1.3 | % | 0.8 | % | 0.9 | % | 3 | % | 14.5 | % | 100 | % | 0.7 | % | 0.4 | % | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Current | 30-59 | 60-89 | > 90 | Total | Acquired | Total | > 90 Days | Nonperforming | ||||||||||||||||||||||||||||
Days | Days | Days | Delinquent | Loans | Loans | and | Loans(1) | ||||||||||||||||||||||||||||||
Loans | Accruing(1) | ||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 79,852 | $ | 932 | $ | 659 | $ | 1,410 | $ | 3,001 | $ | 288 | $ | 83,141 | $ | 1,410 | $ | 0 | |||||||||||||||||||
International credit card | 8,227 | 145 | 89 | 153 | 387 | 0 | 8,614 | 100 | 100 | ||||||||||||||||||||||||||||
Total credit card | 88,079 | 1,077 | 748 | 1,563 | 3,388 | 288 | 91,755 | 1,510 | 100 | ||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 25,057 | 1,341 | 559 | 149 | 2,049 | 17 | 27,123 | 0 | 149 | ||||||||||||||||||||||||||||
Home loan | 7,317 | 63 | 29 | 288 | 380 | 36,403 | 44,100 | 0 | 422 | ||||||||||||||||||||||||||||
Retail banking | 3,789 | 26 | 10 | 45 | 81 | 34 | 3,904 | 1 | 71 | ||||||||||||||||||||||||||||
Total consumer banking | 36,163 | 1,430 | 598 | 482 | 2,510 | 36,454 | 75,127 | 1 | 642 | ||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 17,357 | 64 | 77 | 107 | 248 | 127 | 17,732 | 2 | 137 | ||||||||||||||||||||||||||||
Commercial and industrial | 19,525 | 57 | 3 | 75 | 135 | 232 | 19,892 | 14 | 133 | ||||||||||||||||||||||||||||
Total commercial lending | 36,882 | 121 | 80 | 182 | 383 | 359 | 37,624 | 16 | 270 | ||||||||||||||||||||||||||||
Small-ticket commercial real estate | 1,153 | 28 | 9 | 6 | 43 | 0 | 1,196 | 0 | 12 | ||||||||||||||||||||||||||||
Total commercial banking | 38,035 | 149 | 89 | 188 | 426 | 359 | 38,820 | 16 | 282 | ||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other loans | 118 | 8 | 5 | 23 | 36 | 33 | 187 | 0 | 30 | ||||||||||||||||||||||||||||
Total | $ | 162,395 | $ | 2,664 | $ | 1,440 | $ | 2,256 | $ | 6,360 | $ | 37,134 | $ | 205,889 | $ | 1,527 | $ | 1,054 | |||||||||||||||||||
% of Total loans | 78.9 | % | 1.3 | % | 0.7 | % | 1.1 | % | 3.1 | % | 18 | % | 100 | % | 0.7 | % | 0.5 | % | |||||||||||||||||||
-1 | Nonperforming loans generally include loans that have been placed on nonaccrual status. Acquired Loans are excluded from loans reported as 90 days and accruing interest as well as nonperforming loans. | ||||||||||||||||||||||||||||||||||||
Credit Card: Risk Profile by Geographic Region and Delinquency Status | ' | ||||||||||||||||||||||||||||||||||||
The table below displays the geographic profile of our credit card loan portfolio and delinquency statistics as of December 31, 2013 and 2012. We also present comparative net charge-offs for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.3: Credit Card: Risk Profile by Geographic Region and Delinquency Status | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Acquired | % of | Total | % of | |||||||||||||||||||||||||||||||
Total(1) | Loans | Total(1) | Total(1) | ||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
California | $ | 7,934 | 9.8 | % | $ | 6 | 0 | % | $ | 7,940 | 9.8 | % | |||||||||||||||||||||||||
New York | 5,271 | 6.5 | 6 | 0 | 5,277 | 6.5 | |||||||||||||||||||||||||||||||
Texas | 4,989 | 6.1 | 4 | 0 | 4,993 | 6.1 | |||||||||||||||||||||||||||||||
Florida | 4,321 | 5.3 | 4 | 0 | 4,325 | 5.3 | |||||||||||||||||||||||||||||||
Illinois | 3,600 | 4.4 | 3 | 0 | 3,603 | 4.4 | |||||||||||||||||||||||||||||||
Pennsylvania | 3,439 | 4.2 | 3 | 0 | 3,442 | 4.2 | |||||||||||||||||||||||||||||||
Ohio | 2,963 | 3.6 | 2 | 0 | 2,965 | 3.6 | |||||||||||||||||||||||||||||||
New Jersey | 2,734 | 3.4 | 2 | 0 | 2,736 | 3.4 | |||||||||||||||||||||||||||||||
Michigan | 2,593 | 3.2 | 2 | 0 | 2,595 | 3.2 | |||||||||||||||||||||||||||||||
Other | 35,348 | 43.5 | 31 | 0.1 | 35,379 | 43.6 | |||||||||||||||||||||||||||||||
Total domestic credit card and installment loans | 73,192 | 90 | 63 | 0.1 | 73,255 | 90.1 | |||||||||||||||||||||||||||||||
International credit card: | |||||||||||||||||||||||||||||||||||||
United Kingdom | 3,547 | 4.4 | 0 | 0 | 3,547 | 4.4 | |||||||||||||||||||||||||||||||
Canada | 4,503 | 5.5 | 0 | 0 | 4,503 | 5.5 | |||||||||||||||||||||||||||||||
Total international credit card | 8,050 | 9.9 | 0 | 0 | 8,050 | 9.9 | |||||||||||||||||||||||||||||||
Total credit card and installment loans | $ | 81,242 | 99.9 | % | $ | 63 | 0.1 | % | $ | 81,305 | 100 | % | |||||||||||||||||||||||||
Selected credit metrics: | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies(2) | $ | 2,864 | 3.52 | % | $ | 17 | 0.02 | % | $ | 2,881 | 3.54 | % | |||||||||||||||||||||||||
90+ day delinquencies(2) | 1,321 | 1.62 | 7 | 0.01 | 1,328 | 1.63 | |||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Acquired | % of | Total | % of | |||||||||||||||||||||||||||||||
Total(1) | Loans | Total(1) | Total(1) | ||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
California | $ | 9,245 | 10 | % | $ | 31 | 0.1 | % | $ | 9,276 | 10.1 | % | |||||||||||||||||||||||||
Texas | 5,910 | 6.5 | 23 | 0 | 5,933 | 6.5 | |||||||||||||||||||||||||||||||
New York | 5,846 | 6.4 | 23 | 0 | 5,869 | 6.4 | |||||||||||||||||||||||||||||||
Florida | 4,835 | 5.3 | 17 | 0 | 4,852 | 5.3 | |||||||||||||||||||||||||||||||
Illinois | 4,100 | 4.5 | 15 | 0 | 4,115 | 4.5 | |||||||||||||||||||||||||||||||
Pennsylvania | 3,861 | 4.2 | 14 | 0 | 3,875 | 4.2 | |||||||||||||||||||||||||||||||
Ohio | 3,351 | 3.6 | 12 | 0 | 3,363 | 3.6 | |||||||||||||||||||||||||||||||
New Jersey | 3,060 | 3.3 | 10 | 0 | 3,070 | 3.3 | |||||||||||||||||||||||||||||||
Michigan | 2,917 | 3.2 | 11 | 0 | 2,928 | 3.2 | |||||||||||||||||||||||||||||||
Other | 39,728 | 43.3 | 132 | 0.2 | 39,860 | 43.5 | |||||||||||||||||||||||||||||||
Total domestic credit card and installment loans | 82,853 | 90.3 | 288 | 0.3 | 83,141 | 90.6 | |||||||||||||||||||||||||||||||
International credit card: | |||||||||||||||||||||||||||||||||||||
United Kingdom | 3,678 | 4 | 0 | 0 | 3,678 | 4 | |||||||||||||||||||||||||||||||
Canada | 4,936 | 5.4 | 0 | 0 | 4,936 | 5.4 | |||||||||||||||||||||||||||||||
Total international credit card | 8,614 | 9.4 | 0 | 0 | 8,614 | 9.4 | |||||||||||||||||||||||||||||||
Total credit card and installment loans | $ | 91,467 | 99.7 | % | $ | 288 | 0.3 | % | $ | 91,755 | 100 | % | |||||||||||||||||||||||||
Selected credit metrics: | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies(2) | $ | 3,326 | 3.62 | % | $ | 62 | 0.07 | % | $ | 3,388 | 3.69 | % | |||||||||||||||||||||||||
90+ day delinquencies(2) | 1,530 | 1.67 | 33 | 0.03 | 1,563 | 1.7 | |||||||||||||||||||||||||||||||
-1 | Percentages by geographic region within the domestic and international credit card portfolios are calculated based on the total held-for-investment credit card loans as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
-2 | Delinquency rates calculated by dividing delinquent credit card loans by the total balance of credit card loans held for investment as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
Credit Card: Net Charge-Offs | ' | ||||||||||||||||||||||||||||||||||||
Table 4.4: Credit Card: Net Charge-offs | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Rate(1) | Amount | Rate(1) | |||||||||||||||||||||||||||||||||
Net charge-offs: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 2,904 | 4.08 | % | $ | 2,532 | 3.53 | % | |||||||||||||||||||||||||||||
International credit card | 381 | 4.78 | 412 | 4.98 | |||||||||||||||||||||||||||||||||
Total | $ | 3,285 | 4.15 | % | $ | 2,944 | 3.68 | % | |||||||||||||||||||||||||||||
-1 | Calculated for each loan category by dividing net charge-offs for the period by average loans held for investment during the period. | ||||||||||||||||||||||||||||||||||||
Consumer Banking: Risk Profile by Geographic Region, Delinquency Status and Performing Status | ' | ||||||||||||||||||||||||||||||||||||
The table below displays the geographic profile of our consumer banking loan portfolio, including Acquired Loans. We also present the delinquency and nonperforming loan rates of our consumer banking loan portfolio, excluding Acquired Loans, as of December 31, 2013 and December 31, 2012, and net charge-offs for 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.5: Consumer Banking: Risk Profile by Geographic Region, Delinquency Status and Performing Status | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Loans | % of | Loans | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Auto: | |||||||||||||||||||||||||||||||||||||
Texas | $ | 4,736 | 6.7 | % | $ | 0 | 0 | % | $ | 4,736 | 6.7 | % | |||||||||||||||||||||||||
California | 3,297 | 4.7 | 0 | 0 | 3,297 | 4.7 | |||||||||||||||||||||||||||||||
Florida | 2,076 | 2.9 | 0 | 0 | 2,076 | 2.9 | |||||||||||||||||||||||||||||||
Georgia | 1,709 | 2.4 | 0 | 0 | 1,709 | 2.4 | |||||||||||||||||||||||||||||||
Louisiana | 1,677 | 2.4 | 0 | 0 | 1,677 | 2.4 | |||||||||||||||||||||||||||||||
Illinois | 1,291 | 1.8 | 0 | 0 | 1,291 | 1.8 | |||||||||||||||||||||||||||||||
Ohio | 1,267 | 1.8 | 0 | 0 | 1,267 | 1.8 | |||||||||||||||||||||||||||||||
Other | 15,799 | 22.3 | 5 | 0 | 15,804 | 22.3 | |||||||||||||||||||||||||||||||
Total auto | 31,852 | 45 | 5 | 0 | 31,857 | 45 | |||||||||||||||||||||||||||||||
Home loan: | |||||||||||||||||||||||||||||||||||||
California | 1,010 | 1.5 | 7,153 | 10.1 | 8,163 | 11.6 | |||||||||||||||||||||||||||||||
New York | 1,502 | 2.1 | 1,265 | 1.8 | 2,767 | 3.9 | |||||||||||||||||||||||||||||||
Illinois | 88 | 0.1 | 2,183 | 3.1 | 2,271 | 3.2 | |||||||||||||||||||||||||||||||
Maryland | 418 | 0.6 | 1,495 | 2.1 | 1,913 | 2.7 | |||||||||||||||||||||||||||||||
New Jersey | 362 | 0.5 | 1,409 | 2 | 1,771 | 2.5 | |||||||||||||||||||||||||||||||
Virginia | 351 | 0.5 | 1,367 | 1.9 | 1,718 | 2.4 | |||||||||||||||||||||||||||||||
Florida | 177 | 0.3 | 1,477 | 2.1 | 1,654 | 2.4 | |||||||||||||||||||||||||||||||
Other | 3,190 | 4.5 | 11,835 | 16.7 | 15,025 | 21.2 | |||||||||||||||||||||||||||||||
Total home loan | 7,098 | 10.1 | 28,184 | 39.8 | 35,282 | 49.9 | |||||||||||||||||||||||||||||||
Retail banking: | |||||||||||||||||||||||||||||||||||||
Louisiana | 1,234 | 1.7 | 0 | 0 | 1,234 | 1.7 | |||||||||||||||||||||||||||||||
New York | 859 | 1.2 | 0 | 0 | 859 | 1.2 | |||||||||||||||||||||||||||||||
Texas | 772 | 1.1 | 0 | 0 | 772 | 1.1 | |||||||||||||||||||||||||||||||
New Jersey | 280 | 0.4 | 0 | 0 | 280 | 0.4 | |||||||||||||||||||||||||||||||
Maryland | 125 | 0.1 | 17 | 0.1 | 142 | 0.2 | |||||||||||||||||||||||||||||||
Virginia | 96 | 0.1 | 12 | 0 | 108 | 0.1 | |||||||||||||||||||||||||||||||
California | 37 | 0.1 | 0 | 0 | 37 | 0.1 | |||||||||||||||||||||||||||||||
Other | 184 | 0.3 | 7 | 0 | 191 | 0.3 | |||||||||||||||||||||||||||||||
Total retail banking | 3,587 | 5 | 36 | 0.1 | 3,623 | 5.1 | |||||||||||||||||||||||||||||||
Total consumer banking | $ | 42,537 | 60.1 | % | $ | 28,225 | 39.9 | % | $ | 70,762 | 100 | % | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Auto | Home Loan | Retail Banking | Total Consumer | ||||||||||||||||||||||||||||||||||
Banking | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | |||||||||||||||||||||||||||||
Rate(2) | Rate(2) | Rate(2) | Rate(2) | ||||||||||||||||||||||||||||||||||
Credit performance: | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies | $ | 2,375 | 7.46 | % | $ | 323 | 4.55 | % | $ | 52 | 1.46 | % | $ | 2,750 | 6.47 | % | |||||||||||||||||||||
90+ day delinquencies | 194 | 0.61 | 239 | 3.37 | 23 | 0.66 | 456 | 1.07 | |||||||||||||||||||||||||||||
Nonperforming loans | 194 | 0.61 | 376 | 5.29 | 41 | 1.15 | 611 | 1.44 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Loans | % of | Loans | % of | Loans | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Auto: | |||||||||||||||||||||||||||||||||||||
Texas | $ | 4,317 | 5.7 | % | $ | 0 | 0 | % | $ | 4,317 | 5.7 | % | |||||||||||||||||||||||||
California | 2,676 | 3.6 | 0 | 0 | 2,676 | 3.6 | |||||||||||||||||||||||||||||||
Florida | 1,621 | 2.1 | 0 | 0 | 1,621 | 2.1 | |||||||||||||||||||||||||||||||
Louisiana | 1,504 | 2 | 0 | 0 | 1,504 | 2 | |||||||||||||||||||||||||||||||
Georgia | 1,404 | 1.9 | 0 | 0 | 1,404 | 1.9 | |||||||||||||||||||||||||||||||
Illinois | 1,134 | 1.5 | 0 | 0 | 1,134 | 1.5 | |||||||||||||||||||||||||||||||
Ohio | 1,032 | 1.4 | 0 | 0 | 1,032 | 1.4 | |||||||||||||||||||||||||||||||
Other | 13,418 | 17.8 | 17 | 0.1 | 13,435 | 17.9 | |||||||||||||||||||||||||||||||
Total auto | 27,106 | 36 | 17 | 0.1 | 27,123 | 36.1 | |||||||||||||||||||||||||||||||
Home loan: | |||||||||||||||||||||||||||||||||||||
California | 1,168 | 1.6 | 9,098 | 12.1 | 10,266 | 13.7 | |||||||||||||||||||||||||||||||
New York | 1,678 | 2.2 | 1,598 | 2.1 | 3,276 | 4.3 | |||||||||||||||||||||||||||||||
Illinois | 102 | 0.1 | 2,875 | 3.8 | 2,977 | 3.9 | |||||||||||||||||||||||||||||||
Maryland | 403 | 0.5 | 1,878 | 2.5 | 2,281 | 3 | |||||||||||||||||||||||||||||||
New Jersey | 402 | 0.5 | 1,717 | 2.3 | 2,119 | 2.8 | |||||||||||||||||||||||||||||||
Virginia | 342 | 0.5 | 1,748 | 2.3 | 2,090 | 2.8 | |||||||||||||||||||||||||||||||
Florida | 183 | 0.3 | 1,863 | 2.5 | 2,046 | 2.8 | |||||||||||||||||||||||||||||||
Other | 3,419 | 4.6 | 15,626 | 20.8 | 19,045 | 25.4 | |||||||||||||||||||||||||||||||
Total home loan | 7,697 | 10.3 | 36,403 | 48.4 | 44,100 | 58.7 | |||||||||||||||||||||||||||||||
Retail banking: | |||||||||||||||||||||||||||||||||||||
Louisiana | 1,447 | 1.9 | 0 | 0 | 1,447 | 1.9 | |||||||||||||||||||||||||||||||
New York | 864 | 1.2 | 0 | 0 | 864 | 1.2 | |||||||||||||||||||||||||||||||
Texas | 844 | 1.1 | 0 | 0 | 844 | 1.1 | |||||||||||||||||||||||||||||||
New Jersey | 312 | 0.4 | 0 | 0 | 312 | 0.4 | |||||||||||||||||||||||||||||||
Maryland | 96 | 0.1 | 20 | 0.1 | 116 | 0.2 | |||||||||||||||||||||||||||||||
Virginia | 78 | 0.1 | 9 | 0 | 87 | 0.1 | |||||||||||||||||||||||||||||||
California | 47 | 0.1 | 0 | 0 | 47 | 0.1 | |||||||||||||||||||||||||||||||
Other | 182 | 0.2 | 5 | 0 | 187 | 0.2 | |||||||||||||||||||||||||||||||
Total retail banking | 3,870 | 5.1 | 34 | 0.1 | 3,904 | 5.2 | |||||||||||||||||||||||||||||||
Total consumer banking | $ | 38,673 | 51.4 | % | $ | 36,454 | 48.6 | % | $ | 75,127 | 100 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Auto | Home Loan | Retail Banking | Total Consumer | ||||||||||||||||||||||||||||||||||
Banking | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | Amount | Adjusted | |||||||||||||||||||||||||||||
Rate(2) | Rate(2) | Rate(2) | Rate(2) | ||||||||||||||||||||||||||||||||||
Credit performance:(2) | |||||||||||||||||||||||||||||||||||||
30+ day delinquencies | $ | 2,049 | 7.56 | % | $ | 380 | 4.94 | % | $ | 81 | 2.09 | % | $ | 2,510 | 6.49 | % | |||||||||||||||||||||
90+ day delinquencies | 149 | 0.55 | 288 | 3.74 | 45 | 1.16 | 482 | 1.25 | |||||||||||||||||||||||||||||
Nonperforming loans | 149 | 0.55 | 422 | 5.48 | 71 | 1.83 | 642 | 1.66 | |||||||||||||||||||||||||||||
-1 | Percentages by geographic region are calculated based on the total held-for-investment consumer banking loans as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
-2 | Credit performance statistics exclude Acquired Loans, which were recorded at fair value at acquisition. | ||||||||||||||||||||||||||||||||||||
Consumer Banking: Net Charge-Offs | ' | ||||||||||||||||||||||||||||||||||||
Table 4.6: Consumer Banking: Net Charge-offs | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | Rate(1) | Amount | Rate(1) | |||||||||||||||||||||||||||||||||
Net charge-offs: | |||||||||||||||||||||||||||||||||||||
Auto | $ | 546 | 1.85 | % | $ | 414 | 1.66 | % | |||||||||||||||||||||||||||||
Home Loan | 16 | 0.04 | 52 | 0.12 | |||||||||||||||||||||||||||||||||
Retail Banking | 54 | 1.46 | 65 | 1.57 | |||||||||||||||||||||||||||||||||
Total Consumer Banking | $ | 616 | 0.85 | % | $ | 531 | 0.74 | % | |||||||||||||||||||||||||||||
-1 | Calculated for each loan category by dividing net charge-offs for the period by average loans held for investment during the period. | ||||||||||||||||||||||||||||||||||||
Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the distribution of our home loan portfolio as of December 31, 2013 and 2012, based on selected key risk characteristics. | |||||||||||||||||||||||||||||||||||||
Table 4.7: Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total Home Loans | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | % of | Amount | % of | Amount | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Origination year: | |||||||||||||||||||||||||||||||||||||
< =006 | $ | 3,389 | 9.6 | % | $ | 6,490 | 18.4 | % | $ | 9,879 | 28 | % | |||||||||||||||||||||||||
2007 | 363 | 1 | 5,276 | 14.9 | 5,639 | 15.9 | |||||||||||||||||||||||||||||||
2008 | 212 | 0.6 | 4,084 | 11.6 | 4,296 | 12.2 | |||||||||||||||||||||||||||||||
2009 | 129 | 0.4 | 2,531 | 7.2 | 2,660 | 7.6 | |||||||||||||||||||||||||||||||
2010 | 142 | 0.4 | 4,251 | 12.1 | 4,393 | 12.5 | |||||||||||||||||||||||||||||||
2011 | 259 | 0.7 | 4,655 | 13.2 | 4,914 | 13.9 | |||||||||||||||||||||||||||||||
2012 | 1,918 | 5.4 | 805 | 2.3 | 2,723 | 7.7 | |||||||||||||||||||||||||||||||
2013(3) | 686 | 2 | 92 | 0.2 | 778 | 2.2 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
California | $ | 1,010 | 2.9 | % | $ | 7,153 | 20.3 | % | $ | 8,163 | 23.2 | % | |||||||||||||||||||||||||
New York | 1,502 | 4.2 | 1,265 | 3.6 | 2,767 | 7.8 | |||||||||||||||||||||||||||||||
Illinois | 88 | 0.2 | 2,183 | 6.2 | 2,271 | 6.4 | |||||||||||||||||||||||||||||||
Maryland | 418 | 1.2 | 1,495 | 4.2 | 1,913 | 5.4 | |||||||||||||||||||||||||||||||
New Jersey | 362 | 1 | 1,409 | 4 | 1,771 | 5 | |||||||||||||||||||||||||||||||
Virginia | 351 | 1 | 1,367 | 3.9 | 1,718 | 4.9 | |||||||||||||||||||||||||||||||
Florida | 177 | 0.5 | 1,477 | 4.2 | 1,654 | 4.7 | |||||||||||||||||||||||||||||||
Arizona | 91 | 0.3 | 1,439 | 4.1 | 1,530 | 4.4 | |||||||||||||||||||||||||||||||
Washington | 100 | 0.3 | 1,302 | 3.7 | 1,402 | 4 | |||||||||||||||||||||||||||||||
Louisiana | 1,282 | 3.6 | 47 | 0.1 | 1,329 | 3.7 | |||||||||||||||||||||||||||||||
Other | 1,717 | 4.9 | 9,047 | 25.6 | 10,764 | 30.5 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
Lien type: | |||||||||||||||||||||||||||||||||||||
1st lien | $ | 6,020 | 17.1 | % | $ | 27,768 | 78.7 | % | $ | 33,788 | 95.8 | % | |||||||||||||||||||||||||
2nd lien | 1,078 | 3 | 416 | 1.2 | 1,494 | 4.2 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
Interest rate type: | |||||||||||||||||||||||||||||||||||||
Fixed rate | $ | 2,478 | 7 | % | $ | 3,434 | 9.7 | % | $ | 5,912 | 16.7 | % | |||||||||||||||||||||||||
Adjustable rate | 4,620 | 13.1 | 24,750 | 70.2 | 29,370 | 83.3 | |||||||||||||||||||||||||||||||
Total | $ | 7,098 | 20.1 | % | $ | 28,184 | 79.9 | % | $ | 35,282 | 100 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Loans | Acquired Loans | Total Home Loans | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Amount | % of | Amount | % of | Amount | % of | |||||||||||||||||||||||||||||||
Total(1) | Total(1) | Total(1) | |||||||||||||||||||||||||||||||||||
Origination year: | |||||||||||||||||||||||||||||||||||||
< =006 | $ | 4,104 | 9.3 | % | $ | 7,723 | 17.5 | % | $ | 11,827 | 26.8 | % | |||||||||||||||||||||||||
2007 | 446 | 1 | 6,189 | 14 | 6,635 | 15 | |||||||||||||||||||||||||||||||
2008 | 257 | 0.6 | 5,210 | 11.8 | 5,467 | 12.4 | |||||||||||||||||||||||||||||||
2009 | 167 | 0.4 | 3,438 | 7.8 | 3,605 | 8.2 | |||||||||||||||||||||||||||||||
2010 | 188 | 0.4 | 6,024 | 13.7 | 6,212 | 14.1 | |||||||||||||||||||||||||||||||
2011 | 324 | 0.7 | 6,705 | 15.2 | 7,029 | 15.9 | |||||||||||||||||||||||||||||||
2012 | 2,211 | 5.1 | 1,114 | 2.5 | 3,325 | 7.6 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
California | $ | 1,168 | 2.7 | % | $ | 9,098 | 20.6 | % | $ | 10,266 | 23.3 | % | |||||||||||||||||||||||||
New York | 1,678 | 3.8 | 1,598 | 3.6 | 3,276 | 7.4 | |||||||||||||||||||||||||||||||
Illinois | 102 | 0.2 | 2,875 | 6.5 | 2,977 | 6.7 | |||||||||||||||||||||||||||||||
Maryland | 403 | 0.9 | 1,878 | 4.3 | 2,281 | 5.2 | |||||||||||||||||||||||||||||||
New Jersey | 402 | 0.9 | 1,717 | 3.9 | 2,119 | 4.8 | |||||||||||||||||||||||||||||||
Virginia | 342 | 0.8 | 1,748 | 4 | 2,090 | 4.8 | |||||||||||||||||||||||||||||||
Florida | 183 | 0.4 | 1,863 | 4.2 | 2,046 | 4.6 | |||||||||||||||||||||||||||||||
Arizona | 95 | 0.2 | 1,828 | 4.1 | 1,923 | 4.3 | |||||||||||||||||||||||||||||||
Washington | 113 | 0.3 | 1,766 | 4 | 1,879 | 4.3 | |||||||||||||||||||||||||||||||
Colorado | 126 | 0.3 | 1,594 | 3.6 | 1,720 | 3.9 | |||||||||||||||||||||||||||||||
Other | 3,085 | 7 | 10,438 | 23.7 | 13,523 | 30.7 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
Lien type: | |||||||||||||||||||||||||||||||||||||
1st lien | $ | 6,502 | 14.8 | % | $ | 35,905 | 81.4 | % | $ | 42,407 | 96.2 | % | |||||||||||||||||||||||||
2nd lien | 1,195 | 2.7 | 498 | 1.1 | 1,693 | 3.8 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
Interest rate type: | |||||||||||||||||||||||||||||||||||||
Fixed rate | $ | 2,534 | 5.8 | % | $ | 4,037 | 9.1 | % | $ | 6,571 | 14.9 | % | |||||||||||||||||||||||||
Adjustable rate | 5,163 | 11.7 | 32,366 | 73.4 | 37,529 | 85.1 | |||||||||||||||||||||||||||||||
Total | $ | 7,697 | 17.5 | % | $ | 36,403 | 82.5 | % | $ | 44,100 | 100 | % | |||||||||||||||||||||||||
-1 | Percentages within each risk category are calculated based on total home loans held for investment. | ||||||||||||||||||||||||||||||||||||
-2 | Represents the ten states in which we have the highest concentration of home loans. | ||||||||||||||||||||||||||||||||||||
-3 | The Acquired Loans origination balance in 2013 is related to refinancing of previously acquired home loans. | ||||||||||||||||||||||||||||||||||||
Commercial Banking: Risk Profile by Geographic Region and Internal Risk Rating | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the geographic distribution and internal risk ratings of our commercial loan portfolio as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Table 4.8: Commercial Banking: Risk Profile by Geographic Region and Internal Risk Rating | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Commercial | % of | Commercial | % of | Small-ticket | % of | Total | % of | |||||||||||||||||||||||||||||
and | Total(1) | and | Total(1) | Commercial | Total(1) | Commercial | Total(1) | ||||||||||||||||||||||||||||||
Multifamily | Industrial | Real Estate | |||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Northeast | $ | 14,543 | 70.1 | % | $ | 5,800 | 24.9 | % | $ | 582 | 61.3 | % | $ | 20,925 | 46.4 | % | |||||||||||||||||||||
Mid-Atlantic | 2,130 | 10.3 | 1,432 | 6.1 | 33 | 3.4 | 3,595 | 8 | |||||||||||||||||||||||||||||
South | 2,539 | 12.2 | 10,940 | 46.9 | 58 | 6 | 13,537 | 30.1 | |||||||||||||||||||||||||||||
Other | 1,454 | 7 | 4,959 | 21.3 | 279 | 29.3 | 6,692 | 14.9 | |||||||||||||||||||||||||||||
Loans | 20,666 | 99.6 | 23,131 | 99.2 | 952 | 100 | 44,749 | 99.4 | |||||||||||||||||||||||||||||
Acquired Loans | 84 | 0.4 | 178 | 0.8 | 0 | 0 | 262 | 0.6 | |||||||||||||||||||||||||||||
Total | $ | 20,750 | 100 | % | $ | 23,309 | 100 | % | $ | 952 | 100 | % | $ | 45,011 | 100 | % | |||||||||||||||||||||
Internal risk rating:(3) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 20,204 | 97.4 | % | $ | 22,448 | 96.3 | % | $ | 941 | 98.9 | % | $ | 43,593 | 96.9 | % | |||||||||||||||||||||
Criticized performing | 409 | 2 | 590 | 2.5 | 8 | 0.8 | 1,007 | 2.2 | |||||||||||||||||||||||||||||
Criticized nonperforming | 53 | 0.2 | 93 | 0.4 | 3 | 0.3 | 149 | 0.3 | |||||||||||||||||||||||||||||
Loans | 20,666 | 99.6 | 23,131 | 99.2 | 952 | 100 | 44,749 | 99.4 | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | 72 | 0.3 | 158 | 0.7 | 0 | 0 | 230 | 0.5 | |||||||||||||||||||||||||||||
Criticized performing | 12 | 0.1 | 20 | 0.1 | 0 | 0 | 32 | 0.1 | |||||||||||||||||||||||||||||
Total Acquired Loans | 84 | 0.4 | 178 | 0.8 | 0 | 0 | 262 | 0.6 | |||||||||||||||||||||||||||||
Total | $ | 20,750 | 100 | % | $ | 23,309 | 100 | % | $ | 952 | 100 | % | $ | 45,011 | 100 | % | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Commercial | % of | Commercial | % of | Small-ticket | % of | Total | % of | |||||||||||||||||||||||||||||
and | Total(1) | and | Total(1) | Commercial | Total(1) | Commercial | Total(1) | ||||||||||||||||||||||||||||||
Multifamily | Industrial | Real Estate | |||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||
Geographic concentration:(2) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Northeast | $ | 13,299 | 75 | % | $ | 5,460 | 27.4 | % | $ | 723 | 60.5 | % | $ | 19,482 | 50.2 | % | |||||||||||||||||||||
Mid-Atlantic | 1,398 | 7.9 | 1,149 | 5.8 | 47 | 3.9 | 2,594 | 6.7 | |||||||||||||||||||||||||||||
South | 2,055 | 11.6 | 9,182 | 46.2 | 72 | 6 | 11,309 | 29.1 | |||||||||||||||||||||||||||||
Other | 853 | 4.8 | 3,869 | 19.4 | 354 | 29.6 | 5,076 | 13.1 | |||||||||||||||||||||||||||||
Loans | 17,605 | 99.3 | 19,660 | 98.8 | 1,196 | 100 | 38,461 | 99.1 | |||||||||||||||||||||||||||||
Acquired Loans | 127 | 0.7 | 232 | 1.2 | 0 | 0 | 359 | 0.9 | |||||||||||||||||||||||||||||
Total | $ | 17,732 | 100 | % | $ | 19,892 | 100 | % | $ | 1,196 | 100 | % | $ | 38,820 | 100 | % | |||||||||||||||||||||
Internal risk rating:(3) | |||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | $ | 16,614 | 93.7 | % | $ | 19,073 | 95.9 | % | $ | 1,152 | 96.3 | % | $ | 36,839 | 94.9 | % | |||||||||||||||||||||
Criticized performing | 853 | 4.8 | 454 | 2.3 | 33 | 2.8 | 1,340 | 3.5 | |||||||||||||||||||||||||||||
Criticized nonperforming | 138 | 0.8 | 133 | 0.6 | 11 | 0.9 | 282 | 0.7 | |||||||||||||||||||||||||||||
Loans | 17,605 | 99.3 | 19,660 | 98.8 | 1,196 | 100 | 38,461 | 99.1 | |||||||||||||||||||||||||||||
Acquired Loans: | |||||||||||||||||||||||||||||||||||||
Noncriticized | 77 | 0.4 | 228 | 1.2 | 0 | 0 | 305 | 0.8 | |||||||||||||||||||||||||||||
Criticized performing | 50 | 0.3 | 4 | 0 | 0 | 0 | 54 | 0.1 | |||||||||||||||||||||||||||||
Total Acquired Loans | 127 | 0.7 | 232 | 1.2 | 0 | 0 | 359 | 0.9 | |||||||||||||||||||||||||||||
Total | $ | 17,732 | 100 | % | $ | 19,892 | 100 | % | $ | 1,196 | 100 | % | $ | 38,820 | 100 | % | |||||||||||||||||||||
-1 | Percentages calculated based on total held-for-investment commercial loans in each respective loan category as of the end of the reported period. | ||||||||||||||||||||||||||||||||||||
-2 | Northeast consists of CT, ME, MA, NH, NJ, NY, PA and VT. Mid-Atlantic consists of DE, DC, MD, VA and WV. South consists of AL, AR, FL, GA, KY, LA, MS, MO, NC, SC, TN and TX. | ||||||||||||||||||||||||||||||||||||
-3 | Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by banking regulatory authorities. | ||||||||||||||||||||||||||||||||||||
Individually Impaired Loans, Excluding Acquired Loans | ' | ||||||||||||||||||||||||||||||||||||
The following table presents information about our impaired loans, excluding Acquired Loans, which are reported separately and discussed below as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||
Table 4.9: Impaired Loans(1) | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | With an | Without | Total | Related | Net | Unpaid | Average | Interest | |||||||||||||||||||||||||||||
Allowance | an | Recorded | Allowance | Recorded | Principal | Recorded | Income | ||||||||||||||||||||||||||||||
Allowance | Investment | Investment | Balance | Investment | Recognized | ||||||||||||||||||||||||||||||||
Credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans | $ | 609 | $ | 0 | $ | 609 | $ | 154 | $ | 455 | $ | 593 | $ | 647 | $ | 66 | |||||||||||||||||||||
International credit card | 171 | 0 | 171 | 107 | 64 | 164 | 170 | 11 | |||||||||||||||||||||||||||||
Total credit card and installment loans(2) | 780 | 0 | 780 | 261 | 519 | 757 | 817 | 77 | |||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto(3) | 169 | 186 | 355 | 16 | 340 | 590 | 335 | 62 | |||||||||||||||||||||||||||||
Home loan. | 244 | 150 | 394 | 18 | 375 | 561 | 418 | 7 | |||||||||||||||||||||||||||||
Retail banking | 46 | 40 | 86 | 10 | 76 | 105 | 92 | 1 | |||||||||||||||||||||||||||||
Total consumer banking | 459 | 376 | 835 | 44 | 791 | 1,256 | 845 | 70 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 89 | 49 | 138 | 13 | 125 | 162 | 217 | 1 | |||||||||||||||||||||||||||||
Commercial and industrial | 94 | 91 | 185 | 12 | 173 | 220 | 219 | 1 | |||||||||||||||||||||||||||||
Total commercial lending | 183 | 140 | 323 | 25 | 298 | 382 | 436 | 2 | |||||||||||||||||||||||||||||
Small-ticket commercial real estate | 2 | 4 | 6 | 0 | 6 | 7 | 16 | 0 | |||||||||||||||||||||||||||||
Total commercial banking | 185 | 144 | 329 | 25 | 304 | 389 | 452 | 2 | |||||||||||||||||||||||||||||
Total | $ | 1,424 | $ | 520 | $ | 1,944 | $ | 330 | $ | 1,614 | $ | 2,402 | $ | 2,114 | $ | 149 | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | With an | Without | Total | Related | Net | Unpaid | Average | Interest | |||||||||||||||||||||||||||||
Allowance | an | Recorded | Allowance | Recorded | Principal | Recorded | Income | ||||||||||||||||||||||||||||||
Allowance | Investment | Investment | Balance | Investment | Recognized | ||||||||||||||||||||||||||||||||
Credit card and installment loans: | |||||||||||||||||||||||||||||||||||||
Domestic credit card and installment loans | $ | 701 | $ | 0 | $ | 701 | $ | 230 | $ | 471 | $ | 678 | $ | 687 | $ | 70 | |||||||||||||||||||||
International credit card | 172 | 0 | 172 | 101 | 71 | 164 | 192 | 11 | |||||||||||||||||||||||||||||
Total credit card and installment loans(2) | 873 | 0 | 873 | 331 | 542 | 842 | 879 | 81 | |||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto(3) | 169 | 159 | 328 | 20 | 308 | 606 | 130 | 31 | |||||||||||||||||||||||||||||
Home loan | 145 | 0 | 145 | 13 | 132 | 167 | 120 | 4 | |||||||||||||||||||||||||||||
Retail banking | 61 | 35 | 96 | 7 | 89 | 118 | 88 | 3 | |||||||||||||||||||||||||||||
Total consumer banking | 375 | 194 | 569 | 40 | 529 | 891 | 338 | 38 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 168 | 112 | 280 | 32 | 248 | 315 | 353 | 8 | |||||||||||||||||||||||||||||
Commercial and industrial | 152 | 92 | 244 | 22 | 222 | 277 | 227 | 6 | |||||||||||||||||||||||||||||
Total commercial lending | 320 | 204 | 524 | 54 | 470 | 592 | 580 | 14 | |||||||||||||||||||||||||||||
Small-ticket commercial real estate | 3 | 11 | 14 | 1 | 13 | 21 | 23 | 0 | |||||||||||||||||||||||||||||
Total commercial banking | 323 | 215 | 538 | 55 | 483 | 613 | 603 | 14 | |||||||||||||||||||||||||||||
Total | $ | 1,571 | $ | 409 | $ | 1,980 | $ | 426 | $ | 1,554 | $ | 2,346 | $ | 1,820 | $ | 133 | |||||||||||||||||||||
-1 | Impaired Loans above include TDRs, all Commercial NPL’s, and Home Loans NPL’s with a specific impairment starting in 2013. | ||||||||||||||||||||||||||||||||||||
-2 | Credit card and installment loans include finance charges and fees. | ||||||||||||||||||||||||||||||||||||
-3 | Although auto loans from Loan Recovery Inventory (“LRI”) are not included in our loans held for investment, they are included as impaired loans above since they are reported as TDRs. | ||||||||||||||||||||||||||||||||||||
TDR Disclosures in Progress Financial Impact of Modification | ' | ||||||||||||||||||||||||||||||||||||
The following tables present the types, amounts and financial effects of loans modified and accounted for as troubled debt restructurings during the period: | |||||||||||||||||||||||||||||||||||||
Table 4.10: Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Total | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans | Reduced Interest Rate | Term Extension | Balance Reduction | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Modified(1) | % of | Average | % of TDR | Average | % of | Gross | ||||||||||||||||||||||||||||||
TDR | Rate | Activity(4)(8) | Term | TDR | Balance | ||||||||||||||||||||||||||||||||
Activity(2)(8) | Reduction(3) | Extension | Activity(6)(8) | Reduction(7) | |||||||||||||||||||||||||||||||||
(Months)(5) | |||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 311 | 100 | % | 11.62 | % | 0 | % | 0 | 0 | % | $ | 0 | ||||||||||||||||||||||||
International credit card | 187 | 100 | 24.95 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total credit card | 498 | 100 | 16.64 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 274 | 31 | 1.37 | 55 | 9 | 45 | 109 | ||||||||||||||||||||||||||||||
Home loan | 98 | 22 | 2.89 | 20 | 127 | 21 | 4 | ||||||||||||||||||||||||||||||
Retail banking | 30 | 6 | 3.68 | 58 | 7 | 0 | 0 | ||||||||||||||||||||||||||||||
Total consumer banking | 402 | 27 | 1.72 | 46 | 21 | 36 | 113 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 53 | 23 | 1.74 | 77 | 16 | 0 | 0 | ||||||||||||||||||||||||||||||
Commercial and industrial | 47 | 0 | 0 | 79 | 6 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial lending | 100 | 12 | 1.74 | 78 | 11 | 0 | 0 | ||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 8 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial banking | 108 | 11 | 1.74 | 72 | 11 | 0 | 0 | ||||||||||||||||||||||||||||||
Total | $ | 1,008 | 61 | % | 13.73 | % | 26 | % | 18 | 14 | % | $ | 113 | ||||||||||||||||||||||||
Total | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Loans | Reduced Interest Rate | Term Extension | Balance Reduction | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Modified(1) | % of | Average | % of TDR | Average | % of | Gross | ||||||||||||||||||||||||||||||
TDR | Rate | Activity(4)(8) | Term | TDR | Balance | ||||||||||||||||||||||||||||||||
Activity(2)(8) | Reduction(3) | Extension | Activity(6)(8) | Reduction(7) | |||||||||||||||||||||||||||||||||
(Months)(5) | |||||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | $ | 353 | 100 | % | 11.45 | % | 0 | % | 0 | 0 | % | $ | 0 | ||||||||||||||||||||||||
International credit card | 218 | 100 | 23.71 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total credit card | 571 | 100 | 15.64 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto | 338 | 51 | 6.71 | 69 | 8 | 50 | 219 | ||||||||||||||||||||||||||||||
Home loan | 62 | 65 | 2.5 | 75 | 128 | 45 | 10 | ||||||||||||||||||||||||||||||
Retail banking | 28 | 3 | 2.67 | 96 | 9 | 0 | 0 | ||||||||||||||||||||||||||||||
Total consumer banking | 428 | 50 | 5.9 | 72 | 26 | 46 | 229 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 62 | 38 | 2.18 | 90 | 16 | 0 | 0 | ||||||||||||||||||||||||||||||
Commercial and industrial | 131 | 7 | 3.9 | 87 | 13 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial lending | 193 | 17 | 2.67 | 88 | 14 | 0 | 0 | ||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Total commercial banking | 193 | 17 | 2.67 | 88 | 14 | 0 | 0 | ||||||||||||||||||||||||||||||
Total | $ | 1,192 | 69 | % | 12.56 | % | 40 | % | 22 | 16 | % | $ | 229 | ||||||||||||||||||||||||
-1 | Represents total loans modified and accounted for as a TDR during the period. Paydowns, charge-offs and any other changes in the loan carrying value subsequent to the loan entering TDR status are not reflected. | ||||||||||||||||||||||||||||||||||||
-2 | Percentage of loans modified and accounted for as a TDR during the period that were granted a reduced interest rate. | ||||||||||||||||||||||||||||||||||||
-3 | Weighted average interest rate reduction for those loans that received an interest rate concession. | ||||||||||||||||||||||||||||||||||||
-4 | Percentage of loans modified and accounted for as a TDR during the period that were granted a maturity date extension. | ||||||||||||||||||||||||||||||||||||
-5 | Weighted average change in maturity date for those loans that received a maturity date extension. | ||||||||||||||||||||||||||||||||||||
-6 | Percentage of loans modified and accounted for as a TDR during the period that were granted forgiveness or forbearance of a portion of their balance. | ||||||||||||||||||||||||||||||||||||
-7 | Total amount represents the gross balance forgiven. For loans modified in bankruptcy, the gross balance reduction represents collateral value write downs associated with the discharge of the borrower’s obligations. | ||||||||||||||||||||||||||||||||||||
-8 | Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types. | ||||||||||||||||||||||||||||||||||||
TDR - Subsequent Payment Defaults of Completed TDR Modifications | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the type, number and amount of loans accounted for as TDRs that experienced a payment default during the period and had completed a modification event in the twelve months prior to the payment default. A payment default occurs if the loan is either 90 days or more delinquent or the loan has been charged-off as of the end of the period presented. | |||||||||||||||||||||||||||||||||||||
Table 4.11: TDR—Subsequent Payment Defaults | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Number of | Total | Number of | Total | |||||||||||||||||||||||||||||||||
Contracts | Loans | Contracts | Loans | ||||||||||||||||||||||||||||||||||
Credit Card: | |||||||||||||||||||||||||||||||||||||
Domestic credit card | 41,859 | $ | 72 | 43,103 | $ | 85 | |||||||||||||||||||||||||||||||
International credit card(1) | 47,688 | 138 | 48,663 | 164 | |||||||||||||||||||||||||||||||||
Total credit card | 89,547 | 210 | 91,766 | 249 | |||||||||||||||||||||||||||||||||
Consumer Banking: | |||||||||||||||||||||||||||||||||||||
Auto. | 9,525 | 68 | 4,364 | 39 | |||||||||||||||||||||||||||||||||
Home loan | 33 | 3 | 99 | 7 | |||||||||||||||||||||||||||||||||
Retail banking | 126 | 7 | 107 | 11 | |||||||||||||||||||||||||||||||||
Total consumer banking | 9,684 | 78 | 4,570 | 57 | |||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||
Commercial and multifamily real estate | 14 | 23 | 8 | 10 | |||||||||||||||||||||||||||||||||
Commercial and industrial | 24 | 22 | 23 | 18 | |||||||||||||||||||||||||||||||||
Total commercial lending | 38 | 45 | 31 | 28 | |||||||||||||||||||||||||||||||||
Small-ticket commercial real estate | 4 | 0 | 3 | 2 | |||||||||||||||||||||||||||||||||
Total commercial banking | 42 | 45 | 34 | 30 | |||||||||||||||||||||||||||||||||
Total | 99,273 | $ | 333 | 96,370 | $ | 336 | |||||||||||||||||||||||||||||||
-1 | The regulatory regime in the U.K. requires U.K. credit card businesses to accept payment plan proposals even when the proposed payments are less than the contractual minimum amount. As a result, loans entering long-term TDR payment programs in the U.K. typically continue to age and ultimately charge-off even when fully in compliance with the TDR program terms. | ||||||||||||||||||||||||||||||||||||
Outstanding Balance and Carrying Value of Acquired Loans | ' | ||||||||||||||||||||||||||||||||||||
The table below presents the outstanding contractual balance and the carrying value of loans from the CCB, ING Direct and 2012 U.S. card acquisitions accounted for based on expected cash flows as of December 31, 2013 and 2012. The table displays separately loans considered credit-impaired at acquisition and loans not considered credit-impaired at acquisition. | |||||||||||||||||||||||||||||||||||||
Table 4.12: Acquired Loans Accounted for Based on Expected Cash Flows | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Total | Impaired | Non- | Total | Impaired | Non- | |||||||||||||||||||||||||||||||
Loans | Impaired | Loans | Impaired | ||||||||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||||||||||
Contractual balance | $ | 30,565 | $ | 5,016 | $ | 25,549 | $ | 39,321 | $ | 6,195 | $ | 33,126 | |||||||||||||||||||||||||
Carrying value(1) | 28,580 | 3,285 | 25,295 | 37,109 | 4,069 | 33,040 | |||||||||||||||||||||||||||||||
(1) | Includes $38 million and $57 million of allowance for these loans as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||||||
Changes in Accretable Yield on Acquired Loans | ' | ||||||||||||||||||||||||||||||||||||
The following table presents changes in the accretable yield on loans related to the CCB, ING Direct, and 2012 U.S. card acquisitions: | |||||||||||||||||||||||||||||||||||||
Table 4.13: Changes in Accretable Yield on Acquired Loans | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Total | Impaired | Non- | ||||||||||||||||||||||||||||||||||
Loans | Loans | Impaired | |||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
Accretable yield as of December 31, 2011 | $ | 1,752 | $ | 1,566 | $ | 186 | |||||||||||||||||||||||||||||||
Acquired Loans accretable yield(1) | 5,616 | 306 | 5,310 | ||||||||||||||||||||||||||||||||||
Accretion recognized in earnings | (1,316 | ) | (390 | ) | (926 | ) | |||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference for loans with improving cash flows(2) (3) | 860 | 448 | 412 | ||||||||||||||||||||||||||||||||||
Reductions in accretable yield for non-credit related changes in expected cash flows(4) | (704 | ) | (31 | ) | (673 | ) | |||||||||||||||||||||||||||||||
Accretable yield as of December 31, 2012 | $ | 6,208 | $ | 1,899 | $ | 4,309 | |||||||||||||||||||||||||||||||
Accretion recognized in earnings | (1,182 | ) | (427 | ) | (755 | ) | |||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference for loans with improving cash flows(2) | 1,005 | 629 | 376 | ||||||||||||||||||||||||||||||||||
Increases/(Reductions) in accretable yield for non-credit related changes in expected cash flows(4) | 389 | 13 | 376 | ||||||||||||||||||||||||||||||||||
Accretable yield as of December 31, 2013 | $ | 6,420 | $ | 2,114 | $ | 4,306 | |||||||||||||||||||||||||||||||
-1 | Includes revised acquisition date accretable yield for ING Direct Acquired Loans. | ||||||||||||||||||||||||||||||||||||
-2 | Represents increases in accretable yields for those pools with increases that are primarily the result of improved credit performance. | ||||||||||||||||||||||||||||||||||||
-3 | Includes the implementation of the 2012 OCC update to the Bank Accounting Advisory Series, which requires write-down of performing consumer loans restructured in bankruptcy to collateral value. Includes reductions of $28 million and $44 million for purchased credit-impaired loans and non-impaired loans, respectively. | ||||||||||||||||||||||||||||||||||||
-4 | Represents changes in accretable yields for those pools that are driven primarily by changes in actual and estimated prepayments. |
Allowance_for_Loan_and_Lease_L1
Allowance for Loan and Lease Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Allowance for Loan and Lease Losses | ' | ||||||||||||||||||||||||||||||||||||||||
The table below summarizes changes in the allowance for loan and lease losses, by portfolio segment, for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||
Table 5.1: Allowance for Loan and Lease Losses | |||||||||||||||||||||||||||||||||||||||||
Consumer | Unfunded | Combined | |||||||||||||||||||||||||||||||||||||||
Lending | Allowance & | ||||||||||||||||||||||||||||||||||||||||
Commitments | Unfunded | ||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Credit | Auto | Home | Retail | Total | Commercial | Other(1) | Total | Reserve | Reserve | |||||||||||||||||||||||||||||||
Card | Loan | Banking | Consumer | Allowance | |||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2011 | $ | 2,847 | $ | 391 | $ | 98 | $ | 163 | $ | 652 | $ | 715 | $ | 36 | $ | 4,250 | $ | 66 | $ | 4,316 | |||||||||||||||||||||
Provision for credit losses | 4,061 | 509 | 67 | 14 | 590 | (240 | ) | 35 | 4,446 | (31 | ) | 4,415 | |||||||||||||||||||||||||||||
Charge-offs | (4,159 | ) | (631 | ) | (77 | ) | (89 | ) | (797 | ) | (94 | ) | (43 | ) | (5,093 | ) | 0 | (5,093 | ) | ||||||||||||||||||||||
Recoveries | 1,215 | 217 | 25 | 24 | 266 | 52 | 5 | 1,538 | 0 | 1,538 | |||||||||||||||||||||||||||||||
Net charge-offs | (2,944 | ) | (414 | ) | (52 | ) | (65 | ) | (531 | ) | (42 | ) | (38 | ) | (3,555 | ) | 0 | (3,555 | ) | ||||||||||||||||||||||
Other changes(2) | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 15 | |||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 3,979 | $ | 486 | $ | 113 | $ | 112 | $ | 711 | $ | 433 | $ | 33 | $ | 5,156 | $ | 35 | $ | 5,191 | |||||||||||||||||||||
Provision for credit losses | 2,824 | 665 | (14 | ) | 5 | 656 | (76 | ) | (3 | ) | 3,401 | 52 | 3,453 | ||||||||||||||||||||||||||||
Charge-offs | (4,542 | ) | (784 | ) | (26 | ) | (78 | ) | (888 | ) | (49 | ) | (26 | ) | (5,505 | ) | 0 | (5,505 | ) | ||||||||||||||||||||||
Recoveries | 1,257 | 238 | 10 | 24 | 272 | 35 | 7 | 1,571 | 0 | 1,571 | |||||||||||||||||||||||||||||||
Net charge-offs | (3,285 | ) | (546 | ) | (16 | ) | (54 | ) | (616 | ) | (14 | ) | (19 | ) | (3,934 | ) | 0 | (3,934 | ) | ||||||||||||||||||||||
Other changes(2) | (304 | ) | 1 | 0 | 0 | 1 | (5 | ) | 0 | (308 | ) | 0 | (308 | ) | |||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 3,214 | $ | 606 | $ | 83 | $ | 63 | $ | 752 | $ | 338 | $ | 11 | $ | 4,315 | $ | 87 | $ | 4,402 | |||||||||||||||||||||
-1 | Other consists of our discontinued GreenPoint mortgage operations loan portfolio and our community redevelopment loan portfolio. | ||||||||||||||||||||||||||||||||||||||||
-2 | Consists of a reduction in the allowance of $289 million, which was attributable to the Portfolio Sale, in the first quarter of 2013. It also contains a foreign translation and other adjustment of $19 million and $15 million in 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||||||||||
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 loan category and impairment methodology, and the recorded investment of the related loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||
Table 5.2: Components of Allowance for Loan and Lease Losses by Impairment Methodology | |||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Credit | Auto | Home | Retail | Total | Commercial | Other | Total | |||||||||||||||||||||||||||||||||
Card | Loan | Banking | Consumer | ||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 2,953 | $ | 590 | $ | 27 | $ | 53 | $ | 670 | $ | 313 | $ | 11 | $ | 3,947 | |||||||||||||||||||||||||
Asset-specific(2) | 261 | 16 | 18 | 10 | 44 | 25 | 0 | 330 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 0 | 0 | 38 | 0 | 38 | 0 | 0 | 38 | |||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 3,214 | $ | 606 | $ | 83 | $ | 63 | $ | 752 | $ | 338 | $ | 11 | $ | 4,315 | |||||||||||||||||||||||||
Held-for-investment loans by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 80,462 | $ | 31,683 | $ | 6,704 | $ | 3,501 | $ | 41,888 | $ | 44,420 | $ | 121 | $ | 166,891 | |||||||||||||||||||||||||
Asset-specific(2) | 780 | 169 | 394 | 86 | 649 | 329 | 0 | 1,758 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 63 | 5 | 28,184 | 36 | 28,225 | 262 | 0 | 28,550 | |||||||||||||||||||||||||||||||||
Total held-for-investment loans | $ | 81,305 | $ | 31,857 | $ | 35,282 | $ | 3,623 | $ | 70,762 | $ | 45,011 | $ | 121 | $ | 197,199 | |||||||||||||||||||||||||
Allowance as a percentage of period-end held-for-investment loans | 3.95 | % | 1.9 | % | 0.24 | % | 1.74 | % | 1.06 | % | 0.75 | % | 9.09 | % | 2.19 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Credit | Auto | Home | Retail | Total | Commercial | Other | Total | |||||||||||||||||||||||||||||||||
Card | Loan | Banking | Consumer | ||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 3,648 | $ | 466 | $ | 47 | $ | 104 | $ | 617 | $ | 376 | $ | 32 | $ | 4,673 | |||||||||||||||||||||||||
Asset-specific(2) | 331 | 20 | 13 | 7 | 40 | 54 | 1 | 426 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 0 | 0 | 53 | 1 | 54 | 3 | 0 | 57 | |||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 3,979 | $ | 486 | $ | 113 | $ | 112 | $ | 711 | $ | 433 | $ | 33 | $ | 5,156 | |||||||||||||||||||||||||
Held-for-investment loans by impairment methodology: | |||||||||||||||||||||||||||||||||||||||||
Collectively evaluated(1) | $ | 90,594 | $ | 26,778 | $ | 7,552 | $ | 3,774 | $ | 38,104 | $ | 37,923 | $ | 154 | $ | 166,775 | |||||||||||||||||||||||||
Asset-specific(2) | 873 | 328 | 145 | 96 | 569 | 538 | 0 | 1,980 | |||||||||||||||||||||||||||||||||
Acquired Loans(3) | 288 | 17 | 36,403 | 34 | 36,454 | 359 | 33 | 37,134 | |||||||||||||||||||||||||||||||||
Total held-for-investment loans | $ | 91,755 | $ | 27,123 | $ | 44,100 | $ | 3,904 | $ | 75,127 | $ | 38,820 | $ | 187 | $ | 205,889 | |||||||||||||||||||||||||
Allowance as a percentage of period-end held-for-investment loans | 4.34 | % | 1.79 | % | 0.26 | % | 2.87 | % | 0.95 | % | 1.12 | % | 17.65 | % | 2.5 | % | |||||||||||||||||||||||||
-1 | The component of the allowance for credit card and other consumer loans that we collectively evaluate for impairment is based on a statistical calculation. The component of the allowance for commercial loans, which we collectively evaluate for impairment, is based on historical loss experience for loans with similar characteristics and consideration of credit quality supplemented by management judgment and interpretation. | ||||||||||||||||||||||||||||||||||||||||
-2 | The asset-specific component of the allowance for smaller-balance impaired loans is calculated on a pool basis using historical loss experience for the respective class of assets. The asset-specific component of the allowance for larger-balance commercial loans is individually calculated for each loan. | ||||||||||||||||||||||||||||||||||||||||
-3 | The Acquired Loans component of the allowance is accounted for based on expected cash flows. See “Note 4 – Loans” for details on these loans. |
Variable_Interest_Entities_and1
Variable Interest Entities and Securitizations (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Carrying Amount of Assets and Liabilities of Variable Interest Entities | ' | ||||||||||||||||||||
The table below presents a summary of VIEs, aggregated based on VIEs with similar characteristics, in which we had continuing involvement or held a variable interest as of December 31, 2013 and 2012. We separately present information for consolidated and unconsolidated VIEs. | |||||||||||||||||||||
For consolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets. The assets of consolidated VIEs primarily consist of cash and loans, which we report on our consolidated balance sheets under restricted cash and restricted loans, respectively, for securitization investors. The assets of a particular VIE are the primary source of funds to settle its obligations. The creditors of the VIEs typically do not have recourse to the general credit of our company. The liabilities primarily consist of debt securities issued by the VIEs, which we report under securitized debt obligations. For unconsolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets and our maximum exposure to loss. Our maximum exposure to loss is estimated based on the unlikely event that all of the assets in the VIEs became worthless and we were required to meet our maximum remaining funding obligations. | |||||||||||||||||||||
Table 6.1: Carrying Amount of Consolidated and Unconsolidated VIEs | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||
(Dollars in millions) | Carrying | Carrying | Carrying | Carrying | Maximum | ||||||||||||||||
Amount | Amount of | Amount | Amount of | Exposure to | |||||||||||||||||
of Assets | Liabilities | of Assets | Liabilities | Loss | |||||||||||||||||
Securitization-related VIEs: | |||||||||||||||||||||
Credit card loan securitizations(1) | $ | 40,422 | $ | 12,671 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Home loan securitizations(2) | 0 | 0 | 199 | 15 | 702 | ||||||||||||||||
Total securitization-related VIEs | 40,422 | 12,671 | 199 | 15 | 702 | ||||||||||||||||
Other VIEs: | |||||||||||||||||||||
Affordable housing entities | 0 | 0 | 3,137 | 461 | 3,137 | ||||||||||||||||
Entities that provide capital to low-income and rural communities | 389 | 98 | 1 | 0 | 1 | ||||||||||||||||
Other | 1 | 1 | 95 | 0 | 95 | ||||||||||||||||
Total other VIEs | 390 | 99 | 3,233 | 461 | 3,233 | ||||||||||||||||
Total VIEs | $ | 40,812 | $ | 12,770 | $ | 3,432 | $ | 476 | $ | 3,935 | |||||||||||
December 31, 2012 | |||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||
(Dollars in millions) | Carrying | Carrying | Carrying | Carrying | Maximum | ||||||||||||||||
Amount | Amount of | Amount | Amount of | Exposure to | |||||||||||||||||
of Assets | Liabilities | of Assets | Liabilities | Loss | |||||||||||||||||
Securitization-related VIEs: | |||||||||||||||||||||
Credit card loan securitizations(1) | $ | 44,238 | $ | 13,488 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Home loan securitizations(2) | 41 | 38 | 212 | 17 | 712 | ||||||||||||||||
Other asset securitizations(1) | 19 | 19 | 0 | 0 | 0 | ||||||||||||||||
Total securitization-related VIEs | 44,298 | 13,545 | 212 | 17 | 712 | ||||||||||||||||
Other VIEs: | |||||||||||||||||||||
Affordable housing entities | 0 | 0 | 2,390 | 414 | 2,390 | ||||||||||||||||
Entities that provide capital to low-income and rural communities | 375 | 88 | 6 | 4 | 6 | ||||||||||||||||
Other | 1 | 0 | 201 | 86 | 201 | ||||||||||||||||
Total other VIEs | 376 | 88 | 2,597 | 504 | 2,597 | ||||||||||||||||
Total VIEs | $ | 44,674 | $ | 13,633 | $ | 2,809 | $ | 521 | $ | 3,309 | |||||||||||
-1 | Represents the gross assets and liabilities owned by the VIE, which includes seller’s interest and retained and repurchased notes held by other related parties. | ||||||||||||||||||||
-2 | The carrying amount of assets of unconsolidated securitization-related VIEs consists of retained interests associated with the securitization of option-adjustable rate mortgage loans (“option-arms”) and letters of credit related to manufactured housing securitizations. These are reported on our consolidated balance sheets under other assets. The carrying amount of liabilities of unconsolidated securitization-related VIEs is comprised of obligations on certain swap agreements associated with the securitization of manufactured housing loans. | ||||||||||||||||||||
External Debt and Receivable Balances of Securitization Programs | ' | ||||||||||||||||||||
The table below presents the securitization-related VIEs in which we had continuing involvement as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||
Table 6.2: Continuing Involvement in Securitization-Related VIEs | |||||||||||||||||||||
Non-Mortgage | Mortgage | ||||||||||||||||||||
(Dollars in millions) | Credit | Other | Option | GreenPoint | GreenPoint | ||||||||||||||||
Card | Loan | Arm | HELOCs | Manufactured | |||||||||||||||||
Housing | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Securities held by third-party investors | $ | 10,289 | $ | 0 | $ | 2,320 | $ | 122 | $ | 994 | |||||||||||
Receivables in the trust | 39,548 | 0 | 2,399 | 116 | 1,000 | ||||||||||||||||
Cash balance of spread or reserve accounts | 3 | 0 | 8 | N/A | 144 | ||||||||||||||||
Retained interests | Yes | No | Yes | Yes | Yes | ||||||||||||||||
Servicing retained | Yes | No | Yes | (1) | Yes | (1) | No | (2) | |||||||||||||
Amortization event(3) | No | No | No | No | No | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||
Securities held by third-party investors | $ | 11,347 | $ | 13 | $ | 2,702 | $ | 158 | $ | 1,117 | |||||||||||
Receivables in the trust | 43,811 | 19 | 2,794 | 151 | 1,123 | ||||||||||||||||
Cash balance of spread or reserve accounts | 0 | 0 | 8 | 0 | 164 | ||||||||||||||||
Retained interests | Yes | Yes | Yes | Yes | Yes | ||||||||||||||||
Servicing retained | Yes | Yes | Yes | (1) | Yes | (1) | No | (2) | |||||||||||||
Amortization event(3) | No | No | No | Yes | No | ||||||||||||||||
(1) | We continue to service some of the outstanding balance of securitized mortgage receivables. | ||||||||||||||||||||
(2) | The core servicing activities for the manufactured housing securitizations are done by a third party. | ||||||||||||||||||||
(3) | Amortization events vary according to each specific trust agreement but generally are triggered by declines in performance or credit metrics such as charge-off rates or delinquency rates below certain predetermined thresholds. Generally, the occurrence of an amortization event changes the sequencing and amount of trust-related cash flows to the benefit of senior noteholders. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Components of Goodwill and Other Intangible Assets | ' | ||||||||||||||||
The table below displays the components of goodwill, other intangible assets and MSRs as of December 31, 2013 and 2012. Goodwill is presented separately on our consolidated balance sheets. Other intangible assets and MSRs are included in other assets on our consolidated balance sheets. | |||||||||||||||||
Table 7.1: Components of Goodwill and Other Intangible Assets | |||||||||||||||||
December 31, | |||||||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||||||
Goodwill | $ | 13,978 | $ | 13,904 | |||||||||||||
Other intangible assets: | |||||||||||||||||
Purchased credit card relationship intangibles(1) | 1,341 | 1,864 | |||||||||||||||
Core deposit intangibles | 331 | 496 | |||||||||||||||
Other(2) | 177 | 211 | |||||||||||||||
Total other intangible assets | 1,849 | 2,571 | |||||||||||||||
Total goodwill and other intangible assets | $ | 15,827 | $ | 16,475 | |||||||||||||
MSRs: | |||||||||||||||||
Consumer MSRs(3) | 73 | 55 | |||||||||||||||
Commercial MSRs(4) | 132 | — | |||||||||||||||
Total MSRs | $ | 205 | $ | 55 | |||||||||||||
-1 | During 2013, purchased credit card relationship intangibles with a net carrying value of $89 million related to the Best Buy loan portfolio, which was acquired in the 2012 U.S. card acquisition and sold in 2013. See “Note 4—Loans” for further discussion of the Portfolio Sale. | ||||||||||||||||
-2 | Consists of brokerage relationship intangibles, partnership and other contract intangibles, trademark/name intangibles and other intangibles. Also includes certain indefinite-lived intangibles of $4 million as of December 31, 2013. | ||||||||||||||||
-3 | Represent MSRs related to our consumer business that are carried at fair value on our consolidated financial statements. | ||||||||||||||||
-4 | Represent MSRs related to our commercial business that are subsequently measured under the amortization method and periodically assessed for impairment. We recorded $3 million amortization expense for the year ended December 31, 2013. None of these MSRs were impaired and no valuation allowance was recorded as of December 31, 2013. | ||||||||||||||||
Goodwill Attributable to Each Business Segments | ' | ||||||||||||||||
The following table presents goodwill attributable to each of our business segments as of December 31, 2013 and 2012. | |||||||||||||||||
Table 7.2: Goodwill Attributable to Business Segments | |||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Total | |||||||||||||
Card | Banking | Banking | |||||||||||||||
Balance as of December 31, 2011 | $ | 4,691 | $ | 4,583 | $ | 4,318 | $ | 13,592 | |||||||||
Acquisitions | 304 | 0 | 0 | 304 | |||||||||||||
Other adjustments | 8 | 0 | 0 | 8 | |||||||||||||
Balance as of December 31, 2012 | $ | 5,003 | $ | 4,583 | $ | 4,318 | $ | 13,904 | |||||||||
Acquisitions | 0 | 3 | 70 | 73 | |||||||||||||
Other adjustments | 2 | (1 | ) | 0 | 1 | ||||||||||||
Balance as of December 31, 2013 | $ | 5,005 | $ | 4,585 | $ | 4,388 | $ | 13,978 | |||||||||
Intangible Assets Subject to Amortization | ' | ||||||||||||||||
The following table summarizes our intangible assets subject to amortization as of December 31, 2013 and 2012: | |||||||||||||||||
Table 7.3: Intangible Assets | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
(Dollars in millions) | Carrying | Accumulated | Net | Remaining | |||||||||||||
Amount of | Amortization (1) | Carrying | Amortization | ||||||||||||||
Assets | Amount | Period | |||||||||||||||
Purchased credit card relationship intangibles | $ | 2,125 | $ | (784 | ) | $ | 1,341 | 6.9 years | |||||||||
Core deposit intangibles | 1,771 | (1,440 | ) | 331 | 4.7 years | ||||||||||||
Other(2) | 312 | (139 | ) | 173 | 10.2 years | ||||||||||||
Total. | $ | 4,208 | $ | (2,363 | ) | $ | 1,845 | 6.8 years | |||||||||
31-Dec-12 | |||||||||||||||||
(Dollars in millions) | Carrying | Accumulated | Net | Remaining | |||||||||||||
Amount of | Amortization | Carrying | Amortization | ||||||||||||||
Assets | Amount | Period | |||||||||||||||
Purchased credit card relationship intangibles | $ | 2,242 | $ | (378 | ) | $ | 1,864 | 7.8 years | |||||||||
Core deposit intangibles | 1,771 | (1,275 | ) | 496 | 5.6 years | ||||||||||||
Other(2) | 354 | (143 | ) | 211 | 10.3 years | ||||||||||||
Total | $ | 4,367 | $ | (1,796 | ) | $ | 2,571 | 7.6 years | |||||||||
-1 | During 2013, accumulated amortization was reduced by $104 million primarily related to purchased credit card relationships (“PCCR”) intangibles related to the Best Buy loan portfolio which was sold in 2013 and certain fully amortized intangible assets that were removed from our balance sheet. See “Note 4—Loans” for further discussion of the Portfolio Sale. | ||||||||||||||||
-2 | Consists of brokerage relationship intangibles, partnership and other contract intangibles, trademark/name intangibles and other intangibles. | ||||||||||||||||
Actual and Estimated Future Amortization Expense | ' | ||||||||||||||||
The following table summarizes the actual amortization expense recorded for the years ended December 31, 2013, 2012 and 2011 and the estimated future amortization expense for intangible assets as of December 31, 2013: | |||||||||||||||||
Table 7.4: Amortization Expense | |||||||||||||||||
(Dollars in millions) | Amortization | ||||||||||||||||
Expense | |||||||||||||||||
Actual for the year ended December 31, | |||||||||||||||||
2011 | $ | 222 | |||||||||||||||
2012 | 609 | ||||||||||||||||
2013 | 671 | ||||||||||||||||
Estimated future amounts for the year ended December 31, | |||||||||||||||||
2014 | $ | 532 | |||||||||||||||
2015 | 430 | ||||||||||||||||
2016 | 333 | ||||||||||||||||
2017 | 239 | ||||||||||||||||
2018 | 154 | ||||||||||||||||
Thereafter | 157 | ||||||||||||||||
Total estimated future amounts | $ | 1,845 | |||||||||||||||
Premises_Equipment_Lease_Commi1
Premises, Equipment & Lease Commitments (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Components of Premises and Equipment | ' | ||||||||
Premises and equipment at December 31, 2013 and 2012 were as follows: | |||||||||
Table 8.1: Components of Premises and Equipment | |||||||||
December 31, | |||||||||
(Dollars in millions) | 2013 | 2012 | |||||||
Land | $ | 569 | $ | 580 | |||||
Buildings and improvements | 2,388 | 2,341 | |||||||
Furniture and equipment | 1,874 | 1,589 | |||||||
Computer software | 1,632 | 1,563 | |||||||
In progress | 720 | 420 | |||||||
Total premises and equipment, gross | 7,183 | 6,493 | |||||||
Less: Accumulated depreciation and amortization | (3,344 | ) | (2,906 | ) | |||||
Total premises and equipment, net | $ | 3,839 | $ | 3,587 | |||||
Future Minimum Rental Commitments | ' | ||||||||
Future minimum rental commitments as of December 31, 2013, for all non-cancelable operating leases with initial or remaining terms of one year or more are as follows: | |||||||||
Table 8.2: Lease Commitments | |||||||||
(Dollars in millions) | Estimated | ||||||||
Future | |||||||||
Minimum | |||||||||
Rental | |||||||||
Commitments | |||||||||
2014 | $ | 245 | |||||||
2015 | 227 | ||||||||
2016 | 213 | ||||||||
2017 | 194 | ||||||||
2018 | 171 | ||||||||
Thereafter | 752 | ||||||||
Total | $ | 1,802 | |||||||
Deposits_and_Borrowings_Tables
Deposits and Borrowings (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Deposits, Short-Term Borrowings and Long-Term Debt | ' | ||||||||||||||||||||||||||||
The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of December 31, 2013 and 2012. Our total short-term borrowings consist of federal funds purchased and securities loaned and sold under agreements to repurchase and other short-term borrowings with an original contractual maturity of one year or less. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The amounts presented for outstanding borrowings include unamortized debt premiums and discounts, net of fair value hedge accounting adjustments. | |||||||||||||||||||||||||||||
Table 9.1: Components of Customer Deposits, Short-term Borrowings and Long-term Debt | |||||||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 22,643 | $ | 22,467 | |||||||||||||||||||||||||
Interest-bearing deposits | 181,880 | 190,018 | |||||||||||||||||||||||||||
Total deposits | $ | 204,523 | $ | 212,485 | |||||||||||||||||||||||||
Short-term borrowings: | |||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 | |||||||||||||||||||||||||||
FHLB advances | 15,300 | 19,900 | |||||||||||||||||||||||||||
Total short-term borrowings | $ | 16,215 | $ | 21,148 | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
(Dollars in millions) | Maturity | Interest | Weighted | Outstanding | December 31, | ||||||||||||||||||||||||
Date | Rate | Average | Amount | 2012 | |||||||||||||||||||||||||
Interest Rate | |||||||||||||||||||||||||||||
Long-term debt: | |||||||||||||||||||||||||||||
Securitized debt obligations | 2014 - 2025 | 0.21 - 6.40 | % | 1.57 | % | $ | 10,289 | $ | 11,398 | ||||||||||||||||||||
Senior and subordinated notes: | |||||||||||||||||||||||||||||
Fixed unsecured senior debt | 2014 - 2023 | 1.00 - 7.38 | % | 3.61 | % | 9,612 | 8,623 | ||||||||||||||||||||||
Floating unsecured senior debt | 2014 - 2016 | 0.70 - 1.39 | % | 0.96 | % | 852 | 500 | ||||||||||||||||||||||
Total unsecured senior debt | 3.26 | % | 10,464 | 9,123 | |||||||||||||||||||||||||
Fixed unsecured subordinated debt | 2014 - 2023 | 3.38 - 8.80 | % | 4.98 | % | 2,670 | 3,563 | ||||||||||||||||||||||
Total senior and subordinated notes | 13,134 | 12,686 | |||||||||||||||||||||||||||
Other long-term borrowings: | |||||||||||||||||||||||||||||
Fixed junior subordinated debt | N/A | N/A | N/A | 0 | 3,641 | ||||||||||||||||||||||||
FHLB advances | 2014 - 2023 | 0.31 - 6.88 | % | 0.73 | % | 1,016 | 1,037 | ||||||||||||||||||||||
Total long-term debt | $ | 24,439 | $ | 28,762 | |||||||||||||||||||||||||
Total short-term borrowings and long-term debt | $ | 40,654 | $ | 49,910 | |||||||||||||||||||||||||
Schedule of Maturity Profile of Borrowings and Debt | ' | ||||||||||||||||||||||||||||
Interest-bearing deposits, securitized debt obligations and other debt as of December 31, 2013 mature as follows: | |||||||||||||||||||||||||||||
Table 9.2: Maturity Profile of Borrowings and Debt | |||||||||||||||||||||||||||||
(Dollars in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
Interest-bearing time deposits(1) | $ | 6,348 | $ | 2,591 | $ | 392 | $ | 212 | $ | 667 | $ | 123 | $ | 10,333 | |||||||||||||||
Securitized debt obligations | 2,958 | 501 | 3,521 | 3,095 | 0 | 214 | 10,289 | ||||||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 915 | 0 | 0 | 0 | 0 | 0 | 915 | ||||||||||||||||||||||
Senior and subordinated notes | 2,385 | 2,649 | 2,604 | 882 | 1,176 | 3,438 | 13,134 | ||||||||||||||||||||||
Other borrowings | 16,243 | 20 | 19 | 19 | 11 | 4 | 16,316 | ||||||||||||||||||||||
Total | $ | 28,849 | $ | 5,761 | $ | 6,536 | $ | 4,208 | $ | 1,854 | $ | 3,779 | $ | 50,987 | |||||||||||||||
-1 | Includes only those interest-bearing deposits which have a contractual maturity date. | ||||||||||||||||||||||||||||
Schedule of Components of Interest Expense | ' | ||||||||||||||||||||||||||||
The following table displays interest expense attributable to short-term borrowings and long-term debt for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
Table 9.3: Components of Interest Expense | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Short-term borrowings: | |||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | $ | 1 | $ | 2 | $ | 4 | |||||||||||||||||||||||
FHLB advances | 28 | 18 | 2 | ||||||||||||||||||||||||||
Total short-term borrowings | 29 | 20 | 6 | ||||||||||||||||||||||||||
Long-term debt: | |||||||||||||||||||||||||||||
Securitized debt obligations(1) | 183 | 271 | 422 | ||||||||||||||||||||||||||
Senior and subordinated notes:(1) | |||||||||||||||||||||||||||||
Unsecured senior debt | 234 | 226 | 181 | ||||||||||||||||||||||||||
Unsecured subordinated debt | 81 | 119 | 119 | ||||||||||||||||||||||||||
Total senior and subordinated notes | 315 | 345 | 300 | ||||||||||||||||||||||||||
Other long-term borrowings: | |||||||||||||||||||||||||||||
Junior subordinated debt | 1 | 315 | 310 | ||||||||||||||||||||||||||
FHLB advances | 7 | 11 | 12 | ||||||||||||||||||||||||||
Other | 16 | 10 | 9 | ||||||||||||||||||||||||||
Total long-term debt | 522 | 952 | 1,053 | ||||||||||||||||||||||||||
Total short-term borrowings and long-term debt | $ | 551 | $ | 972 | $ | 1,059 | |||||||||||||||||||||||
-1 | Interest expense includes the impact from hedge accounting. |
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Notional and Fair Value of Derivative Instruments | ' | ||||||||||||||||||||||||
The following table summarizes the notional and fair value of our derivative instruments reported in our consolidated balance sheets as of December 31, 2013 and 2012. The fair value amounts are segregated by derivatives that are designated as accounting hedges those that are not, and are further segregated by type of contract within those two categories. | |||||||||||||||||||||||||
Table 10.1: Derivative Assets and Liabilities at Fair Value | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Notional or | Derivatives at Fair Value | Notional or | Derivatives at Fair Value | ||||||||||||||||||||||
Contractual | Contractual | ||||||||||||||||||||||||
(Dollars in millions) | Amount | Assets | Liabilities | Amount | Assets | Liabilities | |||||||||||||||||||
Derivatives designated as accounting hedges: | |||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Fair value hedges | $ | 15,695 | $ | 289 | $ | 223 | $ | 15,902 | $ | 1,020 | $ | 0 | |||||||||||||
Cash flow hedges | 12,825 | 0 | 149 | 13,025 | 116 | 14 | |||||||||||||||||||
Total interest rate contracts | 28,520 | 289 | 372 | 28,927 | 1,136 | 14 | |||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||||
Cash flow hedges | 4,806 | 49 | 53 | 5,212 | 18 | 40 | |||||||||||||||||||
Total derivatives designated as accounting hedges | 33,326 | 338 | 425 | 34,139 | 1,154 | 54 | |||||||||||||||||||
Derivatives not designated as accounting hedges: | |||||||||||||||||||||||||
Interest rate contracts covering: | |||||||||||||||||||||||||
MSRs | 353 | 0 | 7 | 147 | 12 | 2 | |||||||||||||||||||
Customer accommodation | 25,365 | 405 | 209 | 18,900 | 479 | 273 | |||||||||||||||||||
Other interest rate exposures | 1,864 | 29 | 17 | 2,553 | 45 | 22 | |||||||||||||||||||
Total interest rate contracts | 27,582 | 434 | 233 | 21,600 | 536 | 297 | |||||||||||||||||||
Foreign exchange contracts | 1,422 | 184 | 37 | 1,372 | 158 | 46 | |||||||||||||||||||
Other contracts | 1,094 | 3 | 15 | 701 | 0 | 3 | |||||||||||||||||||
Total derivatives not designated as accounting hedges | 30,098 | 621 | 285 | 23,673 | 694 | 346 | |||||||||||||||||||
Total derivatives | $ | 63,424 | $ | 959 | $ | 710 | $ | 57,812 | $ | 1,848 | $ | 400 | |||||||||||||
Summary of Derivative Transactions and Repurchase Agreements Subject to Legally Enforceable Master Netting Agreements | ' | ||||||||||||||||||||||||
The following table presents as of December 31, 2013 and 2012, the gross and net fair values of our derivative assets and liabilities and repurchase agreements, as well as the related offsetting amount permitted under the accounting standards for offsetting assets and liabilities. Under the accounting standard, gross positive fair values could be offset against gross negative fair values by counterparty pursuant to legally enforceable master netting, if the netting presentation method is elected. The table also includes cash and non-cash collateral received or pledged associated with such arrangements. | |||||||||||||||||||||||||
Table 10.2: Offsetting of Financial Assets and Financial Liabilities | |||||||||||||||||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Assets | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Assets | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Received | Exposure | |||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Derivatives | $ | 959 | $ | 0 | $ | 959 | $ | (262 | ) | $ | (450 | )(1) | $ | 247 | (2) | ||||||||||
Total | $ | 959 | $ | 0 | $ | 959 | $ | (262 | ) | $ | (450 | ) | $ | 247 | |||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Liabilities | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Pledged | Exposure | |||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Derivatives | $ | 710 | $ | 0 | $ | 710 | $ | (262 | ) | $ | (371 | )(1) | $ | 77 | |||||||||||
Repurchase agreements | 907 | 0 | 907 | 0 | (907 | ) | 0 | ||||||||||||||||||
Total | $ | 1,617 | $ | 0 | $ | 1,617 | $ | (262 | ) | $ | (1,278 | ) | $ | 77 | |||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Assets | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Assets | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Received | Exposure | |||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Derivatives | $ | 1,848 | $ | 0 | $ | 1,848 | $ | (220 | ) | $ | (1,160 | )(1) | $ | 468 | (2) | ||||||||||
Total | $ | 1,848 | $ | 0 | $ | 1,848 | $ | (220 | ) | $ | (1,160 | ) | $ | 468 | |||||||||||
(Dollars in millions) | Gross | Gross | Net Amounts | Gross Amounts Not | |||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Offset in the Consolidated | ||||||||||||||||||||||
Recognized | Offset in the | Presented | Balance Sheet | ||||||||||||||||||||||
Liabilities | Consolidated | in the | |||||||||||||||||||||||
Balance | Consolidated | ||||||||||||||||||||||||
Sheet | Balance Sheet | Financial | Collateral | Net | |||||||||||||||||||||
Instruments | Pledged | Exposure | |||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Derivatives | $ | 400 | $ | 0 | $ | 400 | $ | (220 | ) | $ | (98 | )(1) | $ | 82 | |||||||||||
Repurchase agreements | 1,235 | 0 | 1,235 | 0 | (1,235 | ) | 0 | ||||||||||||||||||
Total | $ | 1,635 | $ | 0 | $ | 1,635 | $ | (220 | ) | $ | (1,333 | ) | $ | 82 | |||||||||||
-1 | When we receive or pledge collateral, we factor in accrued interest when calculating net positions with counterparties. | ||||||||||||||||||||||||
-2 | The majority of the net position relates to customer-accommodation derivatives. Customer-accommodation derivatives are cross-collateralized by the associated commercial loans and we do not require additional collateral on these transactions. | ||||||||||||||||||||||||
Net Gains (Losses) Recognized in Earnings Related to Derivatives in Fair Value Hedging Relationships and Free-Standing Derivatives | ' | ||||||||||||||||||||||||
The net gains (losses) recognized in earnings related to derivatives in fair value hedging relationships and free-standing derivatives are presented below for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||
Table 10.3: Gains and Losses on Fair Value Hedges and Free-Standing Derivatives | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Derivatives designated as accounting hedges(1): | |||||||||||||||||||||||||
Fair value interest rate contracts: | |||||||||||||||||||||||||
Gains (losses) recognized in earnings on derivatives | $ | (550 | ) | $ | 1 | $ | 348 | ||||||||||||||||||
Gains (losses) recognized in earnings on hedged items | 507 | (37 | ) | (333 | ) | ||||||||||||||||||||
Net fair value hedge ineffectiveness gains (losses) | (43 | ) | (36 | ) | 15 | ||||||||||||||||||||
Derivatives not designated as accounting hedges(1): | |||||||||||||||||||||||||
Interest rate contracts covering: | |||||||||||||||||||||||||
MSRs | (12 | ) | 4 | 4 | |||||||||||||||||||||
Customer accommodation | 49 | 39 | 23 | ||||||||||||||||||||||
Other interest rate exposures | (9 | ) | (60 | ) | (275 | ) | |||||||||||||||||||
Total interest rate contracts | 28 | (17 | ) | (248 | ) | ||||||||||||||||||||
Foreign exchange contracts | (5 | ) | (15 | ) | 30 | ||||||||||||||||||||
Other contracts(2) | (20 | ) | (4 | ) | 21 | ||||||||||||||||||||
Total gains (losses) on derivatives not designated as accounting hedges | 3 | (36 | ) | (197 | ) | ||||||||||||||||||||
Net derivative gains (losses) recognized in earnings | $ | (40 | ) | $ | (72 | ) | $ | (182 | ) | ||||||||||||||||
-1 | Amounts are recorded in our consolidated statements of income in other non-interest income. | ||||||||||||||||||||||||
-2 | Includes derivative instruments used to hedge mortgage pipeline and certain free-standing derivatives. | ||||||||||||||||||||||||
Net Gains (Losses) Related to Derivatives Designated as Cash Flow Hedges and Net Investment Hedges | ' | ||||||||||||||||||||||||
Table 10.4: Gains and Losses on Derivatives Designated as Cash Flow Hedges | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Gains (losses) recorded in AOCI: | |||||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||
Interest rate contracts | $ | (103 | ) | $ | 116 | $ | 32 | ||||||||||||||||||
Foreign exchange contracts | (21 | ) | (23 | ) | (20 | ) | |||||||||||||||||||
Total | (124 | ) | 93 | 12 | |||||||||||||||||||||
Net Investment Hedges: | |||||||||||||||||||||||||
Foreign exchange contracts | 0 | 0 | (2 | ) | |||||||||||||||||||||
Net derivative gains (losses) recognized in AOCI | $ | (124 | ) | $ | 93 | $ | 10 | ||||||||||||||||||
Gains (losses) recorded in earnings: | |||||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||
Gains (losses) reclassified from AOCI into earnings: | |||||||||||||||||||||||||
Interest rate contracts(1) | $ | 53 | $ | 42 | $ | 3 | |||||||||||||||||||
Foreign exchange contracts(2) | (22 | ) | (22 | ) | (21 | ) | |||||||||||||||||||
Total | 31 | 20 | (18 | ) | |||||||||||||||||||||
Gains (losses) recognized in earnings due to ineffectiveness: | |||||||||||||||||||||||||
Interest rate contracts(2) | (1 | ) | 0 | 0 | |||||||||||||||||||||
Net derivative gains (losses) recognized in earnings | $ | 30 | $ | 20 | $ | (18 | ) | ||||||||||||||||||
-1 | Amounts reclassified are recorded in our consolidated statements of income in interest income or interest expense. | ||||||||||||||||||||||||
-2 | Amounts reclassified are recorded in our consolidated statements of income in other non-interest income. |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Change in AOCI Gain (Loss) by Component (Net of Tax) | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the components of accumulated other comprehensive income as of December 31, 2013, 2012 and 2011, as well as the current period activity related to our other comprehensive income. AOCI is presented net of deferred tax of $544 million and $443 million, as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
Table 11.1: Accumulated Other Comprehensive Income | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Securities | Securities | Cash Flow | Foreign | Other | Total | |||||||||||||||||||||||||||||||
Available | Held to | Hedges | Currency | ||||||||||||||||||||||||||||||||||
for Sale | Maturity(1) | Translation | |||||||||||||||||||||||||||||||||||
Adjustments | |||||||||||||||||||||||||||||||||||||
AOCI as of December 31, 2010 | $ | 382 | $ | 0 | $ | (52 | ) | $ | (36 | ) | $ | (46 | ) | $ | 248 | ||||||||||||||||||||||
Net other comprehensive income (loss) | (78 | ) | 0 | 26 | (13 | ) | (14 | ) | (79 | ) | |||||||||||||||||||||||||||
AOCI as of December 31, 2011 | 304 | 0 | (26 | ) | (49 | ) | (60 | ) | 169 | ||||||||||||||||||||||||||||
Net other comprehensive income (loss) | 399 | 0 | 71 | 81 | 19 | 570 | |||||||||||||||||||||||||||||||
AOCI as of December 31, 2012 | 703 | 0 | 45 | 32 | (41 | ) | 739 | ||||||||||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications | (619 | ) | (915 | ) | (124 | ) | 8 | 18 | (1,632 | ) | |||||||||||||||||||||||||||
Net realized (gains) losses reclassified from AOCI into earnings | 22 | 18 | (31 | ) | 0 | 12 | 21 | ||||||||||||||||||||||||||||||
Net other comprehensive income (loss) | (597 | ) | (897 | ) | (155 | ) | 8 | 30 | (1,611 | ) | |||||||||||||||||||||||||||
AOCI as of December 31, 2013 | $ | 106 | $ | (897 | ) | $ | (110 | ) | $ | 40 | $ | (11 | ) | $ | (872 | ) | |||||||||||||||||||||
-1 | The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value. | ||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI | ' | ||||||||||||||||||||||||||||||||||||
Table 11.2: Reclassifications from AOCI | |||||||||||||||||||||||||||||||||||||
Amount Reclassified | |||||||||||||||||||||||||||||||||||||
from AOCI | |||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Year Ended | Affected Income Statement Line Item | |||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities available for sale: | |||||||||||||||||||||||||||||||||||||
Sale of available for sale securities | $ | (34 | ) | Other—Non-interest income | |||||||||||||||||||||||||||||||||
(12 | ) | Income tax provision | |||||||||||||||||||||||||||||||||||
(22 | ) | Net income | |||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities held to maturity(1): | |||||||||||||||||||||||||||||||||||||
Held to maturity securities | (29 | ) | Other—Non-interest income | ||||||||||||||||||||||||||||||||||
(11 | ) | Income tax provision | |||||||||||||||||||||||||||||||||||
(18 | ) | Net income | |||||||||||||||||||||||||||||||||||
Net unrealized gains on cash flow hedges: | |||||||||||||||||||||||||||||||||||||
Interest rate contracts | 86 | Other—Interest income or interest expense | |||||||||||||||||||||||||||||||||||
Foreign exchange contracts | (35 | ) | Other—Non-interest expense | ||||||||||||||||||||||||||||||||||
51 | |||||||||||||||||||||||||||||||||||||
20 | Income tax provision | ||||||||||||||||||||||||||||||||||||
31 | Net income | ||||||||||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||||||
Other | (13 | ) | Various | ||||||||||||||||||||||||||||||||||
(1 | ) | Income tax provision | |||||||||||||||||||||||||||||||||||
(12 | ) | Net income | |||||||||||||||||||||||||||||||||||
Total reclassifications | $ | (21 | ) | ||||||||||||||||||||||||||||||||||
-1 | The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value. | ||||||||||||||||||||||||||||||||||||
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 years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||||||
Table 11.3: Comprehensive Income | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | Before | Provision | After | Before | Provision | After | Before | Provision | After | ||||||||||||||||||||||||||||
Tax | (Benefit) | Tax | Tax | (Benefit) | Tax | Tax | (Benefit) | Tax | |||||||||||||||||||||||||||||
Other comprehensive income: | |||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities available for sale | $ | (961 | ) | $ | (364 | ) | $ | (597 | ) | $ | 673 | $ | 256 | $ | 417 | $ | (119 | ) | $ | (41 | ) | $ | (78 | ) | |||||||||||||
Net unrealized gains (losses) on securities transferred to held to maturity | (1,435 | ) | (538 | ) | (897 | ) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedges | (250 | ) | (95 | ) | (155 | ) | 120 | 47 | 73 | 44 | 18 | 26 | |||||||||||||||||||||||||
Foreign currency translation adjustments | 8 | 0 | 8 | 81 | 0 | 81 | (13 | ) | 0 | (13 | ) | ||||||||||||||||||||||||||
Other | 49 | 19 | 30 | (1 | ) | 0 | (1 | ) | (21 | ) | (7 | ) | (14 | ) | |||||||||||||||||||||||
Other comprehensive income (loss) | $ | (2,589 | ) | $ | (978 | ) | $ | (1,611 | ) | $ | 873 | $ | 303 | $ | 570 | $ | (109 | ) | $ | (30 | ) | $ | (79 | ) | |||||||||||||
Regulatory_and_Capital_Adequac1
Regulatory and Capital Adequacy (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Comparison of Capital Ratios | ' | ||||||||||||||||||||||||
The table below provides a comparison of our capital ratios under the Federal Reserve’s capital adequacy standards and the capital ratios of the Banks under the OCC’s capital adequacy standards as of December 31, 2013 and 2012. | |||||||||||||||||||||||||
Table 12.1: Capital Ratios Under Basel I(1) | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Capital | Minimum | Well | Capital | Minimum | Well | ||||||||||||||||||||
Ratio | Capital | Capitalized | Ratio | Capital | Capitalized | ||||||||||||||||||||
Adequacy | Adequacy | ||||||||||||||||||||||||
Capital One Financial Corp: | |||||||||||||||||||||||||
Tier 1 common capital(2) | 12.23 | % | N/A | N/A | 10.96 | % | N/A | N/A | |||||||||||||||||
Tier 1 risk-based capital(3) | 12.61 | 4 | % | 6 | % | 11.34 | 4 | % | 6 | % | |||||||||||||||
Total risk-based capital(4) | 14.73 | 8 | 10 | 13.56 | 8 | 10 | |||||||||||||||||||
Tier 1 leverage(5) | 10.1 | 4 | N/A | 8.66 | 4 | N/A | |||||||||||||||||||
Capital One Bank (USA) N.A. | |||||||||||||||||||||||||
Tier 1 risk-based capital(3) | 11.52 | % | 4 | % | 6 | % | 11.32 | % | 4 | % | 6 | % | |||||||||||||
Total risk-based capital(4) | 14.95 | 8 | 10 | 14.74 | 8 | 10 | |||||||||||||||||||
Tier 1 leverage(5) | 10.26 | 4 | 5 | 10.43 | 4 | 5 | |||||||||||||||||||
Capital One, N.A. | |||||||||||||||||||||||||
Tier 1 risk-based capital(3) | 12.73 | % | 4 | % | 6 | % | 13.59 | % | 4 | % | 6 | % | |||||||||||||
Total risk-based capital(4) | 13.82 | 8 | 10 | 14.85 | 8 | 10 | |||||||||||||||||||
Tier 1 leverage(5) | 9 | 4 | 5 | 9.15 | 4 | 5 | |||||||||||||||||||
-1 | Calculated under capital standards and regulations based on the international capital framework commonly known as Basel I. Capital ratios that are not applicable are denoted by “N/A.” | ||||||||||||||||||||||||
-2 | Tier 1 common ratio is a regulatory capital measure calculated based on Tier 1 common capital divided by risk-weighted assets. | ||||||||||||||||||||||||
-3 | Tier 1 risk-based capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets. | ||||||||||||||||||||||||
(4) | Total risk-based capital ratio is a regulatory capital measure calculated based on total risk-based capital divided by risk-weighted assets. | ||||||||||||||||||||||||
-5 | Tier 1 leverage ratio is calculated based on Tier 1 capital divided by quarterly average total assets, after certain adjustments. |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
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 13.1: Computation of Basic and Diluted Earnings per Common Share | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars and shares in millions, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Basic earnings per share | |||||||||||||
Income from continuing operations, net of tax | $ | 4,392 | $ | 3,734 | $ | 3,253 | |||||||
Loss from discontinued operations, net of tax | (233 | ) | (217 | ) | (106 | ) | |||||||
Net income | 4,159 | 3,517 | 3,147 | ||||||||||
Dividends and undistributed earnings allocated to participating securities(1) | (17 | ) | (15 | ) | (26 | ) | |||||||
Preferred stock dividends | (53 | ) | (15 | ) | 0 | ||||||||
Net income available to common stockholders | $ | 4,089 | $ | 3,487 | $ | 3,121 | |||||||
Net income from continuing operations | $ | 7.45 | $ | 6.6 | $ | 7.08 | |||||||
Loss from discontinued operations | (0.40 | ) | (0.39 | ) | (0.23 | ) | |||||||
Net income per share | $ | 7.05 | $ | 6.21 | $ | 6.85 | |||||||
Total weighted-average basic shares outstanding | 579.7 | 561.1 | 455.5 | ||||||||||
Year Ended December 31, | |||||||||||||
(Dollars and shares in millions, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Diluted earnings per share(2) | |||||||||||||
Net income available to common stockholders | $ | 4,089 | $ | 3,487 | $ | 3,121 | |||||||
Net income from continuing operations | $ | 7.35 | $ | 6.54 | $ | 7.03 | |||||||
Loss from discontinued operations | (0.39 | ) | (0.38 | ) | (0.23 | ) | |||||||
Net income per share | $ | 6.96 | $ | 6.16 | $ | 6.8 | |||||||
Total weighted-average basic shares outstanding | 579.7 | 561.1 | 455.5 | ||||||||||
Stock options, warrants, contingently issuable shares, and other | 7.9 | 5.4 | 3.6 | ||||||||||
Total weighted-average diluted shares outstanding | 587.6 | 566.5 | 459.1 | ||||||||||
-1 | Includes undistributed earnings allocated to participating securities using the two-class method under the accounting guidance for computing earnings per share. | ||||||||||||
-2 | Excluded from the computation of diluted earnings per share was 5 million, 7 million and 30 million shares related to awards or options, for the years ended December 31, 2013, 2012 and 2011, respectively, because their inclusion would be anti-dilutive. |
Other_NonInterest_Expense_Tabl
Other Non-Interest Expense (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Schedule of Components of Other Non-Interest Expense | ' | ||||||||||||
The following table represents the components of other non-interest expense for 2013, 2012 and 2011: | |||||||||||||
Table 14.1: Components of Other Non-Interest Expense | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Collections | $ | 470 | $ | 544 | $ | 563 | |||||||
Fraud losses | 218 | 190 | 122 | ||||||||||
Bankcard, regulatory, and other fee assessments | 562 | 525 | 394 | ||||||||||
Other | 903 | 1,127 | 722 | ||||||||||
Total | $ | 2,153 | $ | 2,386 | $ | 1,801 | |||||||
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Common Shares Reserved and Available for Future Issuance for the Stock-Based Compensation Plan | ' | ||||||||||||||||
The following table provides the number of reserved common shares and the number of common shares available for future issuance for our active stock-based compensation plan as of December 31, 2013, 2012 and 2011. | |||||||||||||||||
Table 15.1: Shares Available for Future Issuance | |||||||||||||||||
Available For Issuance | |||||||||||||||||
(In thousands) | Shares | December 31 | |||||||||||||||
Plan Name | Reserved | 2013 | 2012 | 2011 | |||||||||||||
Amended and Restated 2004 Stock Incentive Plan (“2004 Plan”) | |||||||||||||||||
Summary of Stock Options Activity | ' | ||||||||||||||||
The following table presents a summary of 2013 activity for stock options and the balance of stock options exercisable as of December 31, 2013. | |||||||||||||||||
Table 15.2: Summary of Stock Options Activity | |||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||
Subject to | Average | Average | Intrinsic | ||||||||||||||
Options | Exercise | Remaining | Value | ||||||||||||||
(in thousands) | Price | Contractual | (in millions) | ||||||||||||||
Term | |||||||||||||||||
Outstanding as of January 1, 2013 | 14,259 | $ | 56.14 | ||||||||||||||
Granted | 680 | 56.32 | |||||||||||||||
Exercised | 2,305 | 45.68 | |||||||||||||||
Forfeited | 349 | 80.03 | |||||||||||||||
Expired | 34 | 65.07 | |||||||||||||||
Outstanding as of December 31, 2013 | 12,251 | $ | 57.41 | 4.3 years | $ | 258 | |||||||||||
Exercisable as of December 31, 2013 | 10,096 | $ | 58.98 | 3.6 years | $ | 200 | |||||||||||
Summary of Stock Options Cash Flow Impact | ' | ||||||||||||||||
The following table sets forth the cash received from the exercise of stock options under all stock-based incentive arrangements, and the actual income tax benefit realized related to tax deductions from the exercise of the stock options. | |||||||||||||||||
Table 15.3: Stock Options Cash Flow Impact | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||||||
Cash received for options exercised | $ | 105 | $ | 66 | $ | 38 | |||||||||||
Tax benefit realized for options exercised | 18 | 14 | 8 | ||||||||||||||
Weighted Average Assumptions Used to Value Stock Options Granted | ' | ||||||||||||||||
The following table presents the weighted average assumptions used to value stock options granted during 2013, 2012 and 2011. | |||||||||||||||||
Table 15.4: Fair Value of Stock Options Granted | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
Assumptions | 2013 | 2012 | 2011 | ||||||||||||||
Dividend yield(1) | 2.29 | % | 1.7 | % | 2.34 | % | |||||||||||
Volatility(2) | 32 | 35 | 36 | ||||||||||||||
Risk-free interest rate(3) | 1.07 | 0.74 | 2.04 | ||||||||||||||
Expected option lives(4) | 5.6 years | 5.0 years | 5.0 years | ||||||||||||||
(1) | Represents the expected dividend rate over the life of the option. | ||||||||||||||||
(2) | Based on the implied volatility of exchange-traded options. | ||||||||||||||||
(3) | Based on the U.S. Treasury yield curve. | ||||||||||||||||
(4) | Represents the period of time that options granted are expected to remain outstanding and based on historical activities. | ||||||||||||||||
Summary of Activity for Restricted Stock Awards and Units | ' | ||||||||||||||||
The following table presents a summary of 2013 activity for restricted stock awards and units. | |||||||||||||||||
Table 15.5: Summary of Restricted Stock Awards | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
(in thousands) | Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
per Share | |||||||||||||||||
Unvested as of January 1, 2013 | 2,409 | $ | 46.09 | ||||||||||||||
Granted | 1,045 | 58.9 | |||||||||||||||
Vested | 1,084 | 43.62 | |||||||||||||||
Forfeited | 182 | 50.41 | |||||||||||||||
Unvested as of December 31, 2013 | 2,188 | $ | 53.07 | ||||||||||||||
Summary of Activity for Performance Share Units | ' | ||||||||||||||||
The following table presents a summary of 2013 activity for performance share units. | |||||||||||||||||
Table 15.6: Summary of Performance Share Units | |||||||||||||||||
Shares | Weighted Average | ||||||||||||||||
(in thousands) | Grant Date | ||||||||||||||||
Fair Value | |||||||||||||||||
per Share | |||||||||||||||||
Unvested as of January 1, 2013 | 646 | $ | 45.05 | ||||||||||||||
Granted(1) | 422 | 52.05 | |||||||||||||||
Vested(1) | 180 | 36.55 | |||||||||||||||
Forfeited | 24 | 46.26 | |||||||||||||||
Unvested as of December 31, 2013 | 864 | $ | 50.21 | ||||||||||||||
-1 | Includes adjustments for achievement of specific performance goals for performance share units granted in prior periods. | ||||||||||||||||
Summary of Activity for Performance Share Awards | ' | ||||||||||||||||
The following table presents a summary of 2013 activity for performance share awards. | |||||||||||||||||
Table 15.7: Summary of Performance Share Awards | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
(in thousands) | Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
per Share | |||||||||||||||||
Unvested as of January 1, 2013 | 770 | $ | 45.93 | ||||||||||||||
Granted | 686 | 56.32 | |||||||||||||||
Vested | 276 | 46.36 | |||||||||||||||
Forfeited | 41 | 52.07 | |||||||||||||||
Unvested as of December 31, 2013 | 1,139 | $ | 51.87 | ||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Changes in Benefit Obligation and Plan Assets | ' | ||||||||||||||||
The following table sets forth, on an aggregated basis, changes in the benefit obligation and plan assets, the funded status and how the funded status is recognized in our consolidated balance sheets, and the components of the net periodic benefit cost recognized in our consolidated statements of income: | |||||||||||||||||
Table 16.1: Changes in Benefit Obligation and Plan Assets | |||||||||||||||||
At or For the Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Dollars in millions) | Defined Pension Benefits | Other Postretirement Benefits | |||||||||||||||
Change in benefit obligation: | |||||||||||||||||
Benefit obligation as of beginning of year | $ | 207 | $ | 198 | $ | 67 | $ | 67 | |||||||||
Service cost | 1 | 1 | 0 | 0 | |||||||||||||
Interest cost | 7 | 8 | 2 | 3 | |||||||||||||
Plan amendments(1) | 0 | 0 | 0 | 3 | |||||||||||||
Benefits paid | (17 | ) | (18 | ) | (4 | ) | (4 | ) | |||||||||
Net actuarial loss (gain) | (13 | ) | 18 | (12 | ) | (2 | ) | ||||||||||
Benefit obligation as of end of year | $ | 185 | $ | 207 | $ | 53 | $ | 67 | |||||||||
Change in plan assets: | |||||||||||||||||
Fair value of plan assets as of beginning of year | $ | 224 | $ | 214 | $ | 7 | $ | 7 | |||||||||
Actual return on plan assets | 22 | 27 | 1 | 1 | |||||||||||||
Employer contributions | 1 | 1 | 3 | 3 | |||||||||||||
Benefits paid | (17 | ) | (18 | ) | (4 | ) | (4 | ) | |||||||||
Fair value of plan assets as of end of year | $ | 230 | $ | 224 | $ | 7 | $ | 7 | |||||||||
Over (under) funded status as of end of year | $ | 45 | $ | 17 | $ | (46 | ) | $ | (60 | ) | |||||||
-1 | The other post retirement benefit plan was amended during 2012 to allow for participation by certain HSBC associates. | ||||||||||||||||
Schedule of Amount Recognized in Balance Sheet | ' | ||||||||||||||||
Balance sheet presentation: | |||||||||||||||||
Other assets | $ | 56 | $ | 30 | $ | 0 | $ | 0 | |||||||||
Other liabilities | (11 | ) | (13 | ) | (46 | ) | (60 | ) | |||||||||
Net amount recognized as of end of year | $ | 45 | $ | 17 | $ | (46 | ) | $ | (60 | ) | |||||||
Accumulated benefit obligation at end of year | $ | 185 | $ | 207 | $ | 0 | $ | 0 | |||||||||
Components of Net Periodic Benefit Cost | ' | ||||||||||||||||
Components of net periodic benefit cost: | |||||||||||||||||
Service cost | $ | 1 | $ | 1 | $ | 0 | $ | 0 | |||||||||
Interest cost | 7 | 8 | 2 | 3 | |||||||||||||
Expected return on plan assets | (14 | ) | (13 | ) | 0 | (1 | ) | ||||||||||
Amortization of transition obligation, prior service credit, and net actuarial loss (gain) | 2 | 2 | (3 | ) | (3 | ) | |||||||||||
Net periodic benefit gain | $ | (4 | ) | $ | (2 | ) | $ | (1 | ) | $ | (1 | ) | |||||
Schedule of Changes Recognized in Other Comprehensive Income | ' | ||||||||||||||||
Changes recognized in other comprehensive income, pretax: | |||||||||||||||||
Net actuarial gain (loss) | $ | 22 | $ | (4 | ) | $ | 13 | $ | 2 | ||||||||
Prior service cost | 0 | 0 | 0 | (3 | ) | ||||||||||||
Reclassification adjustments for amounts recognized in net periodic benefit cost | 2 | 2 | (3 | ) | (3 | ) | |||||||||||
Total gain (loss) recognized in other comprehensive income | $ | 24 | $ | (2 | ) | $ | 10 | $ | (4 | ) | |||||||
Schedule of Pre-Tax Amounts Recognized in Accumulated Other Comprehensive Income | ' | ||||||||||||||||
Pre-tax amounts recognized in accumulated other comprehensive income that have not yet been recognized as a component of net periodic benefit cost consist of the following: | |||||||||||||||||
Table 16.2 Amounts Recognized in OCI | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Dollars in millions) | Defined Pension Benefits | Other Postretirement Benefits | |||||||||||||||
Prior service credit | $ | 0 | $ | 0 | $ | (1 | ) | $ | 2 | ||||||||
Net actuarial gain (loss) | (52 | ) | (76 | ) | 14 | 2 | |||||||||||
Accumulated other comprehensive (loss) income | $ | (52 | ) | $ | (76 | ) | $ | 13 | $ | 4 | |||||||
Schedule of Pre-Tax Amounts in Accumulated Other Comprehensive Income That are Expected to be Recognized of Net Periodic Benefit Cost | ' | ||||||||||||||||
Pre-tax amounts recorded in accumulated other comprehensive income as of December 31, 2013 that are expected to be recognized as a component of our net periodic benefit cost in 2014 consist of the following: | |||||||||||||||||
(Dollars in millions) | Defined | Other | |||||||||||||||
Pension | Postretirement | ||||||||||||||||
Benefits | Benefits | ||||||||||||||||
Prior service credit | $ | 0 | $ | 1 | |||||||||||||
Net actuarial gain (loss) | (1 | ) | 2 | ||||||||||||||
Net gain (loss) | $ | (1 | ) | $ | 3 | ||||||||||||
Schedule of Weighted-Average Assumptions Used in Accounting for Plans | ' | ||||||||||||||||
The following table presents weighted-average assumptions used in the accounting for the plans: | |||||||||||||||||
Table 16.3 Assumptions Used in the Accounting for the Plans | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Defined Pension Benefits | Other Postretirement Benefits | ||||||||||||||||
Assumptions for benefit obligations at measurement date: | |||||||||||||||||
Discount rate | 4.6 | % | 3.7 | % | 4.6 | % | 3.7 | % | |||||||||
Rate of compensation increase | n/a | n/a | n/a | n/a | |||||||||||||
Assumptions for periodic benefit cost for the year ended: | |||||||||||||||||
Discount rate | 3.7 | % | 4.5 | % | 3.7 | % | 4.5 | % | |||||||||
Expected long-term rate of return on plan assets | 6.5 | % | 6.5 | % | 6.5 | % | 6.5 | % | |||||||||
Rate of compensation increase | n/a | n/a | n/a | n/a | |||||||||||||
Assumptions for year-end valuations: | |||||||||||||||||
Health care cost trend rate assumed for next year: | |||||||||||||||||
Pre-age 65 | n/a | n/a | 7.5 | % | 7.7 | % | |||||||||||
Post-age 65 | n/a | n/a | 7.7 | % | 8 | % | |||||||||||
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | n/a | n/a | 4.5 | % | 4.5 | % | |||||||||||
Year the rate reaches the ultimate trend rate | n/a | n/a | 2028 | 2028 | |||||||||||||
Schedule of Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates | ' | ||||||||||||||||
A one-percentage point change in assumed health care cost trend rates would have the following effects: | |||||||||||||||||
Table 16.4 Sensitivity Analysis | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||||||
1% Increase | 1% Decrease | 1% Increase | 1% Decrease | ||||||||||||||
Effect on year-end postretirement benefit obligation | $ | 6 | $ | (5 | ) | $ | 7 | $ | (6 | ) | |||||||
Effect on total service and interest cost components | 0 | 0 | (1 | ) | 0 | ||||||||||||
Schedule of Allocations of Plan Assets | ' | ||||||||||||||||
The qualified defined benefit pension plan asset allocations as of the annual measurement dates are as follows: | |||||||||||||||||
Table 16.5 Plan Assets | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Common collective trusts(1) | 63 | % | 59 | % | |||||||||||||
Money market fund | 0 | 1 | |||||||||||||||
Corporate bonds (S&P rating of A or higher) | 6 | 6 | |||||||||||||||
Corporate bonds (S&P rating of lower than A) | 10 | 11 | |||||||||||||||
Government securities | 14 | 17 | |||||||||||||||
Mortgage backed securities | 6 | 6 | |||||||||||||||
Municipal bonds | 1 | 0 | |||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||
-1 | Common collective trusts include domestic and international equity securities. | ||||||||||||||||
Schedule of Fair Value of Plan Assets Measured on a Recurring Basis | ' | ||||||||||||||||
Table 16.6 Plan Assets Measured at Fair Value on a Recurring Basis | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Fair Value Measurements Using | Assets | ||||||||||||||||
at Fair | |||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Value | |||||||||||||
Plan Assets | |||||||||||||||||
Common collective trusts | $ | 0 | $ | 150 | $ | 0 | $ | 150 | |||||||||
Money market fund | 0 | 0 | 0 | 0 | |||||||||||||
Corporate bonds (S&P rating of A or higher) | 0 | 15 | 0 | 15 | |||||||||||||
Corporate bonds (S&P rating of lower than A) | 0 | 24 | 0 | 24 | |||||||||||||
Government securities | 0 | 33 | 0 | 33 | |||||||||||||
Mortgage-backed securities | 0 | 14 | 0 | 14 | |||||||||||||
Municipal bonds | 0 | 1 | 0 | 1 | |||||||||||||
Total | $ | 0 | $ | 237 | $ | 0 | $ | 237 | |||||||||
31-Dec-12 | |||||||||||||||||
Fair Value Measurements Using | Assets | ||||||||||||||||
at Fair | |||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Value | |||||||||||||
Plan Assets | |||||||||||||||||
Common collective trusts | $ | 0 | $ | 136 | $ | 0 | $ | 136 | |||||||||
Money market fund | 0 | 1 | 0 | 1 | |||||||||||||
Corporate bonds (S&P rating of A or higher) | 0 | 14 | 0 | 14 | |||||||||||||
Corporate bonds (S&P rating of lower than A) | 0 | 26 | 0 | 26 | |||||||||||||
Government securities | 0 | 39 | 0 | 39 | |||||||||||||
Mortgage-backed securities | 0 | 14 | 0 | 14 | |||||||||||||
Municipal bonds | 0 | 1 | 0 | 1 | |||||||||||||
Total | $ | 0 | $ | 231 | $ | 0 | $ | 231 | |||||||||
Schedule of Expected Future Benefits Payments | ' | ||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: | |||||||||||||||||
Table 16.7 Expected Future Benefits Payments | |||||||||||||||||
(Dollars in millions) | Pension | Postretirement | |||||||||||||||
Benefits | Benefits | ||||||||||||||||
2014 | $ | 12 | $ | 2 | |||||||||||||
2015 | 12 | 4 | |||||||||||||||
2016 | 12 | 4 | |||||||||||||||
2017 | 11 | 4 | |||||||||||||||
2018 | 11 | 4 | |||||||||||||||
2019 - 2023 | 56 | 17 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Significant Components of Provision for Income Taxes Attributable to Continuing Operations | ' | ||||||||||||
Significant Components of the Provision for Income Taxes Attributable to Continuing Operations | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Current income tax provision: | |||||||||||||
Federal taxes | $ | 1,360 | $ | 1,401 | $ | 721 | |||||||
State taxes | 194 | 154 | 89 | ||||||||||
International taxes | 115 | 44 | 33 | ||||||||||
Total current provision (benefit) | $ | 1,669 | $ | 1,599 | $ | 843 | |||||||
Deferred income tax provision: | |||||||||||||
Federal taxes | $ | 305 | $ | (232 | ) | $ | 594 | ||||||
State taxes | 47 | (84 | ) | (88 | ) | ||||||||
International taxes | 4 | 18 | (15 | ) | |||||||||
Total deferred provision (benefit) | $ | 356 | $ | (298 | ) | $ | 491 | ||||||
Total income tax provision | $ | 2,025 | $ | 1,301 | $ | 1,334 | |||||||
Schedule of Income Tax Provision (Benefit) Reported in Stockholders' Equity | ' | ||||||||||||
Income Tax Provision (Benefit) Reported in Stockholders’ Equity | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Foreign currency translation gains (losses) | $ | 5 | $ | 3 | $ | (1 | ) | ||||||
Net unrealized gains (losses) on securities available for sale | (364 | ) | 256 | (41 | ) | ||||||||
Net unrealized gains (losses) on securities transfered to held to maturity | (538 | ) | 0 | 0 | |||||||||
Net unrealized gains (losses) on cash flow hedge instruments | (95 | ) | 47 | 18 | |||||||||
Employee stock plans | (10 | ) | 15 | (19 | ) | ||||||||
Other | 19 | 0 | (7 | ) | |||||||||
Total income tax provision (benefit) | $ | (983 | ) | $ | 321 | $ | (50 | ) | |||||
Schedule of Effective Income Tax Rate | ' | ||||||||||||
Effective Income Tax Rate | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Income tax at U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
State taxes, net of federal benefit | 2.1 | 1.9 | 1.4 | ||||||||||
Resolution of federal income tax issues and audits | 0 | (0.2 | ) | (1.1 | ) | ||||||||
Low-income housing, New Markets, and other tax credits | (4.7 | ) | (5.0 | ) | (4.3 | ) | |||||||
Other foreign tax differences, net | (0.6 | ) | (0.7 | ) | (0.1 | ) | |||||||
Nontaxable bargain purchase gain | 0 | (4.1 | ) | 0 | |||||||||
Other, net | (0.2 | ) | (1.1 | ) | (1.8 | ) | |||||||
Income tax effective tax rate | 31.6 | % | 25.8 | % | 29.1 | % | |||||||
Schedule of Significant Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
Significant Components of Deferred Tax Assets and Liabilities | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan and lease losses | $ | 1,583 | $ | 1,876 | |||||||||
Security and loan valuations | 1,296 | 502 | |||||||||||
Rewards programs | 855 | 755 | |||||||||||
Representation and warranty reserve | 444 | 343 | |||||||||||
Deferred compensation and employee benefits | 304 | 350 | |||||||||||
Net operating loss and tax credit carryforwards | 248 | 362 | |||||||||||
Net unrealized losses on derivatives | 167 | 77 | |||||||||||
Unearned income | 87 | 116 | |||||||||||
Other assets | 259 | 293 | |||||||||||
Other foreign deferred taxes | 7 | 22 | |||||||||||
Subtotal | 5,250 | 4,696 | |||||||||||
Valuation allowance | (139 | ) | (123 | ) | |||||||||
Total deferred tax assets | 5,111 | 4,573 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Original issue discount | 893 | 958 | |||||||||||
Fixed assets and leases | 173 | 184 | |||||||||||
Goodwill and other intangibles | 10 | 237 | |||||||||||
Other liabilities | 369 | 256 | |||||||||||
Total deferred tax liabilities | 1,445 | 1,635 | |||||||||||
Net deferred tax assets | $ | 3,666 | $ | 2,938 | |||||||||
Schedule of Deferred Tax Liability for Original Issue Discount | ' | ||||||||||||
Deferred Tax Liability Related to Original Issue Discount | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||
Original Issue discount: | |||||||||||||
OID—late fees | $ | 1,024 | $ | 1,225 | |||||||||
OID—all other | 1,402 | 1,377 | |||||||||||
Gross original issue discount | 2,426 | 2,602 | |||||||||||
Net deferred tax liability | $ | 893 | $ | 957 | |||||||||
Schedule of Reconciliation of Change in Unrecognized Tax Benefits | ' | ||||||||||||
Reconciliation of the Change in Unrecognized Tax Benefits | |||||||||||||
(Dollars in millions) | Gross | Accrued | Gross Tax, | ||||||||||
Unrecognized | Interest and | Interest and | |||||||||||
Tax Benefits | Penalties | Penalties | |||||||||||
Balance as of January 1, 2012 | $ | 213 | $ | 60 | $ | 273 | |||||||
Additions for tax positions related to the current year | 0 | 0 | 0 | ||||||||||
Additions for tax positions related to prior years | 51 | 9 | 60 | ||||||||||
Reductions for tax positions related to prior years due to IRS and other settlements | (56 | ) | (15 | ) | (71 | ) | |||||||
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 | 0 | ||||||||||
Other reductions for tax positions related to prior years | 0 | 0 | 0 | ||||||||||
Balance as of December 31, 2012 | $ | 208 | $ | 54 | $ | 262 | |||||||
Additions for tax positions related to the current year | — | — | — | ||||||||||
Additions for tax positions related to prior years | 15 | 7 | 22 | ||||||||||
Reductions for tax positions related to prior years due to IRS and other settlements | (109 | ) | (22 | ) | (131 | ) | |||||||
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 | 0 | ||||||||||
Other reductions for tax positions related to prior years | 0 | 0 | 0 | ||||||||||
Balance as of December 31, 2013 | $ | 114 | $ | 39 | $ | 153 | |||||||
Portion of balance at December 31, 2013 that, if recognized, would impact the effective income tax rate | $ | 78 | $ | 25 | $ | 103 | |||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
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 December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 833 | $ | 0 | $ | 0 | $ | 833 | |||||||||||||||||||||||||||||||||||||
U.S. Agency debt obligations | 0 | 1 | 0 | 1 | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 0 | 307 | 927 | 1,234 | |||||||||||||||||||||||||||||||||||||||||
RMBS | 0 | 23,775 | 1,304 | 25,079 | |||||||||||||||||||||||||||||||||||||||||
CMBS | 0 | 5,267 | 739 | 6,006 | |||||||||||||||||||||||||||||||||||||||||
Other ABS | 0 | 6,793 | 343 | 7,136 | |||||||||||||||||||||||||||||||||||||||||
Other securities | 127 | 1,367 | 17 | 1,511 | |||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | 960 | 37,510 | 3,330 | 41,800 | |||||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 0 | 4 | 69 | 73 | |||||||||||||||||||||||||||||||||||||||||
Derivative assets(1) | 3 | 906 | 50 | 959 | |||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 0 | 0 | 199 | 199 | |||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 963 | $ | 38,420 | $ | 3,648 | $ | 43,031 | |||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities(1) | $ | 4 | $ | 668 | $ | 38 | $ | 710 | |||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 4 | $ | 668 | $ | 38 | $ | 710 | |||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury debt obligations | $ | 1,552 | $ | 0 | $ | 0 | $ | 1,552 | |||||||||||||||||||||||||||||||||||||
U.S. Agency debt obligations | 0 | 302 | 0 | 302 | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | 0 | 362 | 650 | 1,012 | |||||||||||||||||||||||||||||||||||||||||
RMBS | 0 | 42,538 | 1,335 | 43,873 | |||||||||||||||||||||||||||||||||||||||||
CMBS | 0 | 7,042 | 587 | 7,629 | |||||||||||||||||||||||||||||||||||||||||
Other ABS | 0 | 8,356 | 102 | 8,458 | |||||||||||||||||||||||||||||||||||||||||
Other securities | 145 | 993 | 15 | 1,153 | |||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | 1,697 | 59,593 | 2,689 | 63,979 | |||||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 0 | 0 | 55 | 55 | |||||||||||||||||||||||||||||||||||||||||
Derivative assets(1) | 1 | 1,757 | 90 | 1,848 | |||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 0 | 0 | 204 | 204 | |||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,698 | $ | 61,350 | $ | 3,038 | $ | 66,086 | |||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities(1) | $ | 1 | $ | 361 | $ | 38 | $ | 400 | |||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 1 | $ | 361 | $ | 38 | $ | 400 | |||||||||||||||||||||||||||||||||||||
-1 | Does not reflect $1 million and $9 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of December 31, 2013 and 2012, respectively. Non-performance risk is reflected in other assets/liabilities on the balance sheet and offset through the income statement in other income. | ||||||||||||||||||||||||||||||||||||||||||||
Schedule of Level 3 Inputs Reconciliation for Assets and Liabilities | ' | ||||||||||||||||||||||||||||||||||||||||||||
The tables below present a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3). When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period. | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.2: Level 3 Recurring Fair Value Rollforward | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Total Gains or (Losses) | Net | ||||||||||||||||||||||||||||||||||||||||||||
(Realized/Unrealized) | Unrealized | ||||||||||||||||||||||||||||||||||||||||||||
Gains | |||||||||||||||||||||||||||||||||||||||||||||
(Losses) | |||||||||||||||||||||||||||||||||||||||||||||
Included | |||||||||||||||||||||||||||||||||||||||||||||
in Net | |||||||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Related to | |||||||||||||||||||||||||||||||||||||||||||||
Assets and | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Still Held as of | |||||||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Balance, | Included | Included in | Purchases | Sales | Issuances | Settlements | Transfers | Transfers | Balance, | 2013(3) | ||||||||||||||||||||||||||||||||||
January 1, | in Net | Other | Into | Out of | December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | Income(1) | Comprehensive | Level 3(2) | Level 3(2) | 2013 | ||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | $ | 650 | $ | 0 | $ | (39 | ) | $ | 272 | $ | 0 | $ | 0 | $ | (67 | ) | $ | 156 | $ | (45 | ) | $ | 927 | $ | 0 | ||||||||||||||||||||
RMBS | 1,335 | (16 | ) | 203 | 287 | 0 | 0 | (239 | ) | 794 | (1,060 | ) | 1,304 | (20 | ) | ||||||||||||||||||||||||||||||
CMBS | 587 | 0 | (57 | ) | 1,085 | (10 | ) | 0 | 11 | 284 | (1,161 | ) | 739 | 0 | |||||||||||||||||||||||||||||||
Other ABS | 102 | (1 | ) | 14 | 279 | (56 | ) | 0 | (2 | ) | 103 | (96 | ) | 343 | (1 | ) | |||||||||||||||||||||||||||||
Other securities | 15 | 0 | 0 | 32 | (23 | ) | 0 | (7 | ) | 1 | (1 | ) | 17 | 0 | |||||||||||||||||||||||||||||||
Total securities available for sale | 2,689 | (17 | ) | 121 | 1,955 | (89 | ) | 0 | (304 | ) | 1,338 | (2,363 | ) | 3,330 | (21 | ) | |||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 55 | 34 | 0 | 0 | 0 | 13 | (7 | ) | 0 | (26 | ) | 69 | 18 | ||||||||||||||||||||||||||||||||
Derivative assets . | 90 | (22 | ) | 0 | 0 | 0 | 10 | (19 | ) | 0 | (9 | ) | 50 | (22 | ) | ||||||||||||||||||||||||||||||
Retained interest in securitizations | 204 | (5 | ) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 199 | (5 | ) | ||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 38 | 14 | 0 | 0 | 0 | 14 | (28 | ) | 1 | (1 | ) | 38 | 14 | ||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Total Gains or (Losses) | Net | ||||||||||||||||||||||||||||||||||||||||||||
(Realized/Unrealized) | Unrealized | ||||||||||||||||||||||||||||||||||||||||||||
Gains | |||||||||||||||||||||||||||||||||||||||||||||
(Losses) | |||||||||||||||||||||||||||||||||||||||||||||
Included | |||||||||||||||||||||||||||||||||||||||||||||
in Net | |||||||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Related to | |||||||||||||||||||||||||||||||||||||||||||||
Assets and | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Still Held as of | |||||||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Balance, | Included | Included in | Purchases | Sales | Issuances | Settlements | Transfers | Transfers | Balance, | 2012(3) | ||||||||||||||||||||||||||||||||||
January 1, | in Net | Other | Into | Out of | December 31, | ||||||||||||||||||||||||||||||||||||||||
2012 | Income(1) | Comprehensive | Level 3(2) | Level 3(2) | 2012 | ||||||||||||||||||||||||||||||||||||||||
Income | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities guaranteed by U.S. government agencies | $ | 0 | $ | 0 | $ | 6 | $ | 276 | $ | 0 | $ | 0 | $ | (8 | ) | $ | 376 | $ | 0 | $ | 650 | $ | 0 | ||||||||||||||||||||||
RMBS | 195 | (10 | ) | 157 | 2,549 | (640 | ) | 0 | (280 | ) | 630 | (1,266 | ) | 1,335 | (10 | ) | |||||||||||||||||||||||||||||
CMBS | 274 | 5 | 20 | 1,102 | (76 | ) | 0 | (30 | ) | 70 | (778 | ) | 587 | 5 | |||||||||||||||||||||||||||||||
Other ABS | 32 | 0 | 23 | 384 | 0 | 0 | (4 | ) | 261 | (594 | ) | 102 | 0 | ||||||||||||||||||||||||||||||||
Other securities | 12 | 0 | 0 | 0 | 0 | 0 | (5 | ) | 17 | (9 | ) | 15 | 0 | ||||||||||||||||||||||||||||||||
Total securities available for sale | 513 | (5 | ) | 206 | 4,311 | (716 | ) | 0 | (327 | ) | 1,354 | (2,647 | ) | 2,689 | (5 | ) | |||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | 93 | (39 | ) | 0 | 0 | 0 | 11 | (10 | ) | 0 | 0 | 55 | (39 | ) | |||||||||||||||||||||||||||||||
Derivative assets | 103 | 58 | 0 | 0 | 0 | 13 | (88 | ) | 13 | (9 | ) | 90 | 58 | ||||||||||||||||||||||||||||||||
Retained interest in securitization | 145 | 59 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 204 | 59 | ||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 279 | 12 | 0 | 0 | 0 | 33 | (274 | ) | (8 | ) | (4 | ) | 38 | 12 | |||||||||||||||||||||||||||||||
(1) | Gains (losses) related to Level 3 mortgage servicing rights and Level 3 derivative assets and derivative liabilities are reported in other non-interest income, which is a component of non-interest income. Gains (losses) related to Level 3 retained interests in securitizations are reported in servicing and securitizations income, which is a component of non-interest income. | ||||||||||||||||||||||||||||||||||||||||||||
(2) | The transfers out of Level 3 for 2013 and 2012 were primarily driven by greater consistency among multiple pricing sources. The transfers into Level 3 were primarily driven by less consistency among vendor pricing on individual securities. | ||||||||||||||||||||||||||||||||||||||||||||
(3) | The amount presented for unrealized gains (loss) for assets still held as of the reporting date primarily represents impairments for securities available for sale, accretion on certain fixed maturity securities, change in fair value of derivative instruments and mortgage servicing rights transaction. The impairments are reported in total other-than-temporary losses as a component of non-interest income. | ||||||||||||||||||||||||||||||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Quantitative Information about Level 3 Fair Value Measurements | ' | ||||||||||||||||||||||||||||||||||||||||||||
Table 18.3: Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Significant | Significant | Range | Weighted | ||||||||||||||||||||||||||||||||||||||||
Value at | Valuation | Unobservable | Average | ||||||||||||||||||||||||||||||||||||||||||
December 31, | Techniques | Inputs | |||||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
RMBS | $ | 1,304 | Discounted cash flows (3rdparty pricing) | Yield Constant prepayment rate Default rate | 0-23% | 5% | |||||||||||||||||||||||||||||||||||||||
Loss severity | 0-21% | 5% | |||||||||||||||||||||||||||||||||||||||||||
0-18% | 8% | ||||||||||||||||||||||||||||||||||||||||||||
0-95% | 49% | ||||||||||||||||||||||||||||||||||||||||||||
CMBS | $ | 739 | Discounted cash flows (3rdparty pricing) | Yield Constant prepayment rate | 1-4% | 2% | |||||||||||||||||||||||||||||||||||||||
0-20% | 3% | ||||||||||||||||||||||||||||||||||||||||||||
Other ABS | $ | 343 | Discounted cash flows (3rdparty pricing) | Yield Constant prepayment rate Default rate | 1-8% | 3% | |||||||||||||||||||||||||||||||||||||||
Loss severity | 1-6% | 2% | |||||||||||||||||||||||||||||||||||||||||||
1-19% | 12% | ||||||||||||||||||||||||||||||||||||||||||||
44-80% | 69% | ||||||||||||||||||||||||||||||||||||||||||||
U.S. government guaranteed debt and other securities | $ | 944 | Discounted cash flows (3rdparty pricing) | Yield | 0-3% | 2% | |||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | $ | 69 | Discounted cash flows | Total prepayment rate Discount rate Servicing cost ($per loan) | 9.03-32.05% | 14.47% | |||||||||||||||||||||||||||||||||||||||
9.94-17.07% | 10.58% | ||||||||||||||||||||||||||||||||||||||||||||
$81.39-$393.52 | $89.32 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | $ | 50 | Discounted cash flows | Swap rates | 2.99-3.70% | 3.57% | |||||||||||||||||||||||||||||||||||||||
Retained interests in securitization (1) | $ | 199 | N/A | ||||||||||||||||||||||||||||||||||||||||||
Discounted cash flows | Life of receivables (months) Constant prepayment rate Discount rate | 34-101 | |||||||||||||||||||||||||||||||||||||||||||
Default rate | 1.91-7.24% | ||||||||||||||||||||||||||||||||||||||||||||
Loss severity | 4.54-13.57% | ||||||||||||||||||||||||||||||||||||||||||||
1.79-7.07% | |||||||||||||||||||||||||||||||||||||||||||||
14.71-88.69% | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 38 | Discounted cash flows | Swap rates | 3.01-3.67% | 3.57% | |||||||||||||||||||||||||||||||||||||||
(1) | Due to the nature of the various mortgage securitization structures in which we have retained interest, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs. | ||||||||||||||||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Significant | Significant | Range | Weighted | ||||||||||||||||||||||||||||||||||||||||
Value at | Valuation | Unobservable | Average | ||||||||||||||||||||||||||||||||||||||||||
December 31, | Techniques | Inputs | |||||||||||||||||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||||||||||||||||||||||
RMBS | $ | 1,335 | Discounted cash flows (3rd | Yield | 0-24% | 5% | |||||||||||||||||||||||||||||||||||||||
party pricing) | Constant prepayment rate | 0-26% | 6% | ||||||||||||||||||||||||||||||||||||||||||
Default rate | 0-21% | 9% | |||||||||||||||||||||||||||||||||||||||||||
Loss severity | 4-75% | 52% | |||||||||||||||||||||||||||||||||||||||||||
CMBS | $ | 587 | Discounted cash flows (3rd | Yield | 1-3% | 2% | |||||||||||||||||||||||||||||||||||||||
party pricing) | Constant prepayment rate | 0-15% | 11% | ||||||||||||||||||||||||||||||||||||||||||
Other ABS | $ | 102 | Discounted cash flows (3rd | Yield | 1-24% | 4% | |||||||||||||||||||||||||||||||||||||||
party pricing) | Constant prepayment rate | 0-5% | 2% | ||||||||||||||||||||||||||||||||||||||||||
Default rate | 1-28% | 15% | |||||||||||||||||||||||||||||||||||||||||||
Loss severity | 46-88% | 72% | |||||||||||||||||||||||||||||||||||||||||||
U.S. government guaranteed debt and other securities | $ | 665 | |||||||||||||||||||||||||||||||||||||||||||
Discounted cash flows (3rd | Yield | 1-4% | 2% | ||||||||||||||||||||||||||||||||||||||||||
party pricing) | |||||||||||||||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||||||||||
Consumer MSRs | $ | 55 | Discounted | Total prepayment rate Discount rate | 11.77-32.99% | 19.37% | |||||||||||||||||||||||||||||||||||||||
cash flows | Servicing cost ($per loan) | 9.95-37.88% | 12.66% | ||||||||||||||||||||||||||||||||||||||||||
$81-$864 | $302 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | $ | 90 | Discounted | Swap rates | 1.82-2.58% | 2.46% | |||||||||||||||||||||||||||||||||||||||
cash flows | |||||||||||||||||||||||||||||||||||||||||||||
Retained interests in securitization(1) | $ | 204 | |||||||||||||||||||||||||||||||||||||||||||
Discounted | Life of receivables (months) | 29-243 | N/A | ||||||||||||||||||||||||||||||||||||||||||
cash flows | Constant prepayment rate Discount rate | 1.25-22.21% | |||||||||||||||||||||||||||||||||||||||||||
2.90-13.57% | |||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 38 | Discounted cash flows | Swap rates | 1.82-2.55% | 2.42% | |||||||||||||||||||||||||||||||||||||||
-1 | Due to the nature of the various mortgage securitization structures in which we have retained interest, 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 amount of the assets measured at fair value on a nonrecurring basis and still held as of December 31, 2013 and 2012, the significant valuation techniques and unobservable inputs used in those measurement, and total gain or losses recognized in earnings during the years ended December 31, 2013 and 2012 attributable to the fair value changes relating to these assets: | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.4: Nonrecurring Fair Value Measurements Related to Assets Still Held at Period End | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Estimated | Total | Significant | Significant | Range | Weighted | Gains (Losses) | |||||||||||||||||||||||||||||||||||||||
Fair Value Hierarchy | Valuation | Unobservable | Average | for Year Ended | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Techniques | Inputs | 12/31/13 | |||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale | $ | 0 | $ | 145 | $ | 0 | $ | 145 | N/A | N/A | N/A | N/A | $ | (1 | ) | ||||||||||||||||||||||||||||||
Loans held for investment | 0 | 0 | 84 | 84 | Appraisal | Non-recoverable | 0-42% | 13% | (28 | ) | |||||||||||||||||||||||||||||||||||
Value | rate | ||||||||||||||||||||||||||||||||||||||||||||
Other assets(1) | 0 | 0 | 64 | 64 | Fair value of | Appraisal | N/A | N/A | (23 | ) | |||||||||||||||||||||||||||||||||||
property or | Value | ||||||||||||||||||||||||||||||||||||||||||||
collateral | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0 | $ | 145 | $ | 148 | $ | 293 | $ | (52 | ) | ||||||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||
Estimated | Total | Significant | Significant | Range | Weighted | Gains (Losses) | |||||||||||||||||||||||||||||||||||||||
Fair Value Hierarchy | Valuation | Unobservable | Average | for Year Ended | |||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 | Level 2 | Level 3 | Techniques | Inputs | 12/31/12 | |||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale | $ | 0 | $ | 201 | $ | 0 | $ | 201 | N/A | N/A | N/A | N/A | $ | 0 | |||||||||||||||||||||||||||||||
Loans held for investment | 0 | 0 | 162 | 162 | Appraisal | Non-recoverable | 0-100% | 13% | (50 | ) | |||||||||||||||||||||||||||||||||||
Value | rate | ||||||||||||||||||||||||||||||||||||||||||||
Other assets(1) | 0 | 0 | 109 | 109 | Fair value of | Appraisal | N/A | N/A | (31 | ) | |||||||||||||||||||||||||||||||||||
property or | Value | ||||||||||||||||||||||||||||||||||||||||||||
collateral | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0 | $ | 201 | $ | 271 | $ | 472 | $ | (81 | ) | ||||||||||||||||||||||||||||||||||
(1) | Included foreclosed property and repossessed assets of $42 million and long-lived assets held for sale of $22 million as of December 31, 2013. Comparatively, included foreclosed property and repossessed assets of $50 million and long-lived assets held for sale of $59 million as of December 31, 2012. The fair value of these assets is determined based on appraisal value or sales price, the range of which is not meaningful to disclose. | ||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following reflects the fair value of financial instruments, whether or not recognized on the consolidated balance sheets at fair value, as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||||
Table 18.5: Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Estimated Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Carrying | Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 6,291 | $ | 6,291 | $ | 6,291 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Restricted cash for securitization investors | 874 | 874 | 874 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Securities available for sale | 41,800 | 41,800 | 960 | 37,510 | 3,330 | ||||||||||||||||||||||||||||||||||||||||
Securities held to maturity | 19,132 | 19,185 | 0 | 18,895 | 290 | ||||||||||||||||||||||||||||||||||||||||
Net loans held for investment | 192,884 | 198,138 | 0 | 0 | 198,138 | ||||||||||||||||||||||||||||||||||||||||
Loans held for sale | 218 | 219 | 0 | 219 | 0 | ||||||||||||||||||||||||||||||||||||||||
Interest receivable | 1,418 | 1,418 | 0 | 1,418 | 0 | ||||||||||||||||||||||||||||||||||||||||
Consumer and commercial MSRs | 205 | 209 | 0 | 4 | 205 | ||||||||||||||||||||||||||||||||||||||||
Derivative assets | 959 | 959 | 3 | 906 | 50 | ||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 199 | 199 | 0 | 0 | 199 | ||||||||||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 22,643 | $ | 22,643 | $ | 22,643 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | 181,880 | 175,516 | 0 | 14,346 | 161,170 | ||||||||||||||||||||||||||||||||||||||||
Securitized debt obligations | 10,289 | 11,081 | 0 | 10,835 | 246 | ||||||||||||||||||||||||||||||||||||||||
Senior and subordinated notes | 13,134 | 13,715 | 0 | 13,715 | 0 | ||||||||||||||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 915 | 915 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Other borrowings | 16,316 | 16,324 | 0 | 16,324 | 0 | ||||||||||||||||||||||||||||||||||||||||
Interest payable | 307 | 307 | 0 | 307 | 0 | ||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 710 | 710 | 4 | 668 | 38 | ||||||||||||||||||||||||||||||||||||||||
Other liabilities | 18 | 18 | 0 | 0 | 18 | ||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | Estimated Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in millions) | Carrying | Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 11,058 | $ | 11,058 | $ | 11,058 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Restricted cash for securitization investors | 428 | 428 | 428 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Securities available for sale | 63,979 | 63,979 | 1,697 | 59,593 | 2,689 | ||||||||||||||||||||||||||||||||||||||||
Securities held to maturity | 9 | 9 | 0 | 9 | 0 | ||||||||||||||||||||||||||||||||||||||||
Net loans held for investment | 200,733 | 205,000 | 0 | 0 | 205,000 | ||||||||||||||||||||||||||||||||||||||||
Loans held for sale | 201 | 201 | 0 | 201 | 0 | ||||||||||||||||||||||||||||||||||||||||
Interest receivable | 1,694 | 1,694 | 0 | 1,694 | 0 | ||||||||||||||||||||||||||||||||||||||||
Consumer and commercial MSRs | 55 | 55 | 0 | 0 | 55 | ||||||||||||||||||||||||||||||||||||||||
Derivatives assets | 1,848 | 1,848 | 1 | 1,757 | 90 | ||||||||||||||||||||||||||||||||||||||||
Retained interests in securitizations | 204 | 204 | 0 | 0 | 204 | ||||||||||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 22,467 | $ | 22,467 | $ | 22,467 | $ | 0 | $ | 0 | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | 190,018 | 189,423 | 0 | 22,216 | 167,207 | ||||||||||||||||||||||||||||||||||||||||
Securitized debt obligations | 11,398 | 11,590 | 0 | 11,252 | 338 | ||||||||||||||||||||||||||||||||||||||||
Senior and subordinated notes | 12,686 | 13,312 | 0 | 13,312 | 0 | ||||||||||||||||||||||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 1,248 | 1,248 | 1,248 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||
Other borrowings | 24,578 | 24,616 | 346 | 24,215 | 55 | ||||||||||||||||||||||||||||||||||||||||
Interest payable | 450 | 450 | 0 | 450 | 0 | ||||||||||||||||||||||||||||||||||||||||
Derivatives liabilities | 400 | 400 | 1 | 361 | 38 | ||||||||||||||||||||||||||||||||||||||||
Other liabilities | 4 | 4 | 0 | 0 | 4 |
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedule of Business Segments | ' | ||||||||||||||||||||
The following tables present our business segment results for 2013, 2012 and 2011, selected balance sheet data as of December 31, 2013, 2012 and 2011, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, assets and deposits. Prior period amounts have been recast to conform to the current period presentation. | |||||||||||||||||||||
Table 19.1: Segment Results and Reconciliation | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Other | Consolidated | ||||||||||||||||
Card | Banking | Banking | Total | ||||||||||||||||||
Net interest income | $ | 10,967 | $ | 5,905 | $ | 1,895 | $ | (661 | ) | $ | 18,106 | ||||||||||
Non-interest income | 3,320 | 749 | 395 | (186 | ) | 4,278 | |||||||||||||||
Total net revenue | 14,287 | 6,654 | 2,290 | (847 | ) | 22,384 | |||||||||||||||
Provision for credit losses | 2,824 | 656 | (24 | ) | (3 | ) | 3,453 | ||||||||||||||
Non-interest expense: | |||||||||||||||||||||
Amortization of intangibles: | |||||||||||||||||||||
PCCR intangible amortization | 434 | 0 | 0 | 0 | 434 | ||||||||||||||||
Core deposit intangible amortization | 0 | 138 | 27 | 0 | 165 | ||||||||||||||||
Total PCCR and core deposit intangible amortization | 434 | 138 | 27 | 0 | 599 | ||||||||||||||||
Other non-interest expense | 7,005 | 3,607 | 1,092 | 211 | 11,915 | ||||||||||||||||
Total non-interest expense | 7,439 | 3,745 | 1,119 | 211 | 12,514 | ||||||||||||||||
Income from continuing operations before income taxes | 4,024 | 2,253 | 1,195 | (1,055 | ) | 6,417 | |||||||||||||||
Income tax provision (benefit) | 1,409 | 802 | 426 | (612 | ) | 2,025 | |||||||||||||||
Income (loss) from continuing operations, net of tax | $ | 2,615 | $ | 1,451 | $ | 769 | $ | (443 | ) | $ | 4,392 | ||||||||||
Period-end total loans held for investment | $ | 81,305 | $ | 70,762 | $ | 45,011 | $ | 121 | $ | 197,199 | |||||||||||
Period-end total customer deposits | 0 | 167,652 | 30,567 | 6,304 | 204,523 | ||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Other | Consolidated | ||||||||||||||||
Card | Banking | Banking | Total | ||||||||||||||||||
Net interest income | $ | 10,182 | $ | 5,788 | $ | 1,740 | $ | (1,121 | ) | $ | 16,589 | ||||||||||
Non-interest income | 3,078 | 782 | 340 | 607 | 4,807 | ||||||||||||||||
Total net revenue | 13,260 | 6,570 | 2,080 | (514 | ) | 21,396 | |||||||||||||||
Provision for credit losses | 4,061 | 589 | (270 | ) | 35 | 4,415 | |||||||||||||||
Non-interest expense: | |||||||||||||||||||||
Amortization of intangibles: | |||||||||||||||||||||
PCCR intangible amortization | 350 | 0 | 0 | 0 | 350 | ||||||||||||||||
Core deposit intangible amortization | 0 | 159 | 34 | 0 | 193 | ||||||||||||||||
Total PCCR and core deposit intangible amortization | 350 | 159 | 34 | 0 | 543 | ||||||||||||||||
Other non-interest expense | 6,504 | 3,712 | 1,025 | 162 | 11,403 | ||||||||||||||||
Total non-interest expense | 6,854 | 3,871 | 1,059 | 162 | 11,946 | ||||||||||||||||
Income from continuing operations before income taxes | 2,345 | 2,110 | 1,291 | (711 | ) | 5,035 | |||||||||||||||
Income tax provision (benefit) | 815 | 747 | 456 | (717 | ) | 1,301 | |||||||||||||||
Income from continuing operations, net of tax | $ | 1,530 | $ | 1,363 | $ | 835 | $ | 6 | $ | 3,734 | |||||||||||
Period-end total loans held for investment | $ | 91,755 | $ | 75,127 | $ | 38,820 | $ | 187 | $ | 205,889 | |||||||||||
Period-end total customer deposits | 0 | 172,396 | 29,866 | 10,223 | 212,485 | ||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
(Dollars in millions) | Credit | Consumer | Commercial | Other | Consolidated | ||||||||||||||||
Card | Banking | Banking | Total | ||||||||||||||||||
Net interest income | $ | 7,822 | $ | 4,236 | $ | 1,596 | $ | (913 | ) | $ | 12,741 | ||||||||||
Non-interest income | 2,609 | 720 | 283 | (74 | ) | 3,538 | |||||||||||||||
Total net revenue | 10,431 | 4,956 | 1,879 | (987 | ) | 16,279 | |||||||||||||||
Provision for credit losses | 1,870 | 452 | 31 | 7 | 2,360 | ||||||||||||||||
Non-interest expense: | |||||||||||||||||||||
Amortization of intangibles: | |||||||||||||||||||||
PCCR intangible amortization | 21 | 0 | 0 | 0 | 21 | ||||||||||||||||
Core deposit intangible amortization | 0 | 132 | 40 | 0 | 172 | ||||||||||||||||
Total PCCR and core deposit intangible amortization | 21 | 132 | 40 | 0 | 193 | ||||||||||||||||
Other non-interest expense | 5,014 | 3,112 | 885 | 128 | 9,139 | ||||||||||||||||
Total non-interest expense | 5,035 | 3,244 | 925 | 128 | 9,332 | ||||||||||||||||
Income from continuing operations before income taxes | 3,526 | 1,260 | 923 | (1,122 | ) | 4,587 | |||||||||||||||
Income tax provision (benefit) | 1,249 | 451 | 328 | (694 | ) | 1,334 | |||||||||||||||
Income from continuing operations, net of tax | $ | 2,277 | $ | 809 | $ | 595 | $ | (428 | ) | $ | 3,253 | ||||||||||
Period-end total loans held for investment | $ | 65,075 | $ | 36,315 | $ | 34,327 | $ | 175 | $ | 135,892 | |||||||||||
Period-end total customer deposits | 0 | 88,540 | 26,683 | 13,003 | 128,226 |
Commitments_Contingencies_Guar1
Commitments, Contingencies, Guarantees, and Others (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser | ' | ||||||||||||||||||||||||||||
The following table presents the original principal balance of mortgage loan originations, by vintage for 2005 through 2008, for the three general categories of purchasers of mortgage loans and the estimated outstanding principal balance as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
Table 20.1: Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser (estimated) | |||||||||||||||||||||||||||||
Unpaid Principal Balance | |||||||||||||||||||||||||||||
December 31, | December 31, | Original Unpaid Principal Balance | |||||||||||||||||||||||||||
(Dollars in billions) | 2013 | 2012 | Total | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Government sponsored enterprises (“GSEs”)(1) | $ | 3 | $ | 4 | $ | 11 | $ | 1 | $ | 4 | $ | 3 | $ | 3 | |||||||||||||||
Insured Securitizations | 5 | 5 | 20 | 0 | 2 | 8 | 10 | ||||||||||||||||||||||
Uninsured Securitizations and Other | 18 | 23 | 80 | 3 | 15 | 30 | 32 | ||||||||||||||||||||||
Total | $ | 26 | $ | 32 | $ | 111 | $ | 4 | $ | 21 | $ | 41 | $ | 45 | |||||||||||||||
(1) | GSEs include Fannie Mae and Freddie Mac. | ||||||||||||||||||||||||||||
Schedule of Open Claims in Pipeline | ' | ||||||||||||||||||||||||||||
The following table presents information on pending repurchase requests by counterparty category and timing of initial repurchase request. The amounts presented are based on original loan principal balances. | |||||||||||||||||||||||||||||
Table 20.2: Open Pipeline All Vintages (all entities)(1) | |||||||||||||||||||||||||||||
(Dollars in millions) (All amounts are Original Principal Balance) | GSEs | Insured | Uninsured | Total | |||||||||||||||||||||||||
Securitizations | Securitizations | ||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Open claims as of December 31, 2011 | $ | 176 | $ | 1,243 | $ | 672 | $ | 2,091 | |||||||||||||||||||||
Gross new demands received | 189 | 366 | 291 | 846 | |||||||||||||||||||||||||
Loans repurchased/made whole | (233 | ) | (3 | ) | (138 | ) | (374 | ) | |||||||||||||||||||||
Demands rescinded | (75 | ) | (30 | ) | (40 | ) | (145 | ) | |||||||||||||||||||||
Reclassifications(2) | 2 | 3 | (4 | ) | 1 | ||||||||||||||||||||||||
Open claims as of December 31, 2012 | $ | 59 | $ | 1,579 | $ | 781 | $ | 2,419 | |||||||||||||||||||||
Gross new demands received | 203 | 40 | 391 | 634 | |||||||||||||||||||||||||
Loans repurchased/made whole | (49 | ) | (5 | ) | (27 | ) | (81 | ) | |||||||||||||||||||||
Demands rescinded | (124 | ) | 0 | (23 | ) | (147 | ) | ||||||||||||||||||||||
Open claims as of December 31, 2013 | $ | 89 | $ | 1,614 | $ | 1,122 | $ | 2,825 | |||||||||||||||||||||
-1 | The open pipeline includes all repurchase requests ever received by our subsidiaries where either the requesting party has not formally rescinded the repurchase request and where our subsidiary has not agreed to either repurchase the loan at issue or make the requesting party whole with respect to its losses. Accordingly, repurchase requests denied by our subsidiaries and not pursued by the counterparty remain in the open pipeline, with the exception of certain aged repurchase requests submitted by parties without contractual standing to pursue such requests, which may be removed from the pipeline. Finally, the amounts reflected in this chart are the original principal balance amounts of the mortgage loans at issue and do not correspond to the losses our subsidiary would incur upon the repurchase of these loans. | ||||||||||||||||||||||||||||
(2) | Represents adjustments to correct the counterparty category as of December 31, 2012 for amounts that were misclassified. The reclassification had an impact of less than $1 million on the total pending repurchase requests; however, most of the reclassification resulted from an increase in open claims attributable to GSEs and Insured Securitizations and an offsetting decrease in open claims attributable to Uninsured Securitizations and Other. | ||||||||||||||||||||||||||||
Schedule of Changes in Representation and Warranty Reserves | ' | ||||||||||||||||||||||||||||
The following table summarizes changes in our representation and warranty reserves for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
Table 20.3: Changes in Representation and Warranty Reserves | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||||||||||||||||||
Representation and warranty repurchase reserve, beginning of period(1) | $ | 899 | $ | 943 | |||||||||||||||||||||||||
Provision for mortgage representation and warranty losses(2) | 309 | 349 | |||||||||||||||||||||||||||
Net realized losses | (36 | ) | (393 | ) | |||||||||||||||||||||||||
Representation and warranty repurchase reserve, end of period(1) | $ | 1,172 | $ | 899 | |||||||||||||||||||||||||
(1) | Reported in our consolidated balance sheets as a component of other liabilities. | ||||||||||||||||||||||||||||
(2) | The pre-tax portion of the provision for mortgage representation and warranty losses recognized in our consolidated statements of income as a component of non-interest income was a benefit of $24 million and a loss of $42 million in 2013 and 2012, respectively. The portion of the provision for mortgage representation and warranty recognized in our consolidated statements of income as a component of discontinued operations totaled $333 million and $307 million in 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
Schedule of Allocation of Representation and Warranty Reserves | ' | ||||||||||||||||||||||||||||
As indicated in the table below, most of the reserves relate to the $27 billion in original principal balance of mortgage loans sold directly to the GSEs or to the Active Insured Securitizations. | |||||||||||||||||||||||||||||
Table 20.4: Allocation of Representation and Warranty Reserves | |||||||||||||||||||||||||||||
Reserve Liability | |||||||||||||||||||||||||||||
December 31, | Loans Sold | ||||||||||||||||||||||||||||
(Dollars in millions, except for loans sold) | 2013 | 2012 | 2005 to 2008(1) | ||||||||||||||||||||||||||
Selected period-end data: | |||||||||||||||||||||||||||||
GSEs and Active Insured Securitizations | $ | 965 | $ | 817 | $ | 27 | |||||||||||||||||||||||
Inactive Insured Securitizations and Others | 207 | 82 | 84 | ||||||||||||||||||||||||||
Total | $ | 1,172 | $ | 899 | $ | 111 | |||||||||||||||||||||||
(1) | Reflects, in billions, the total original principal balance of mortgage loans originated by our subsidiaries and sold to third party investors between 2005 and 2008. |
Capital_One_Financial_Corporat1
Capital One Financial Corporation (Parent Company Only) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Parent Company Only Financial Statements | ' | ||||||||||||
The following Parent Company Only financial statements are provided in accordance with Regulation S-X of the SEC. | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | |||||||||||
Balance sheets | |||||||||||||
Assets: | |||||||||||||
Cash and cash equivalents | $ | 7,185 | $ | 7,342 | |||||||||
Investment in subsidiaries | 43,430 | 46,605 | |||||||||||
Loans to subsidiaries | 1,487 | 1,335 | |||||||||||
Securities available for sale | 807 | 464 | |||||||||||
Other | 976 | 1,432 | |||||||||||
Total assets | 53,885 | 57,178 | |||||||||||
Liabilities: | |||||||||||||
Senior and subordinated notes | 9,458 | 10,116 | |||||||||||
Other borrowings | 1,545 | 5,036 | |||||||||||
Other | 1,138 | 1,527 | |||||||||||
Total liabilities | 12,141 | 16,679 | |||||||||||
Stockholders’ equity: | |||||||||||||
Preferred stock | 0 | 0 | |||||||||||
Common stock | 6 | 6 | |||||||||||
Additional paid-in-capital, net | 26,526 | 26,188 | |||||||||||
Retained earnings | 20,404 | 16,853 | |||||||||||
Accumulated other comprehensive income | (872 | ) | 739 | ||||||||||
Less: Treasury stock, at cost | (4,320 | ) | (3,287 | ) | |||||||||
Total Stockholders’ equity | 41,744 | 40,499 | |||||||||||
Total liabilities and stockholders’ equity | $ | 53,885 | $ | 57,178 | |||||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Statements of income | |||||||||||||
Interest from temporary investments | $ | 94 | $ | 47 | $ | 26 | |||||||
Interest expense | 250 | 574 | 515 | ||||||||||
Dividends, principally from bank subsidiaries | 5,950 | 0 | 1,950 | ||||||||||
Non-interest income | 33 | 697 | 29 | ||||||||||
Non-interest expense | 196 | 173 | 361 | ||||||||||
Income before income taxes and equity in undistributed earnings of subsidiaries | 5,631 | (3 | ) | 1,129 | |||||||||
Income tax (benefit) | (66 | ) | (168 | ) | (247 | ) | |||||||
Equity in undistributed earnings of subsidiaries | (1,305 | ) | 3,569 | 1,877 | |||||||||
Income from continuing operations, net of tax | 4,392 | 3,734 | 3,253 | ||||||||||
Loss from discontinued operations, net of tax | (233 | ) | (217 | ) | (106 | ) | |||||||
Net income | 4,159 | 3,517 | 3,147 | ||||||||||
Dividends and undistributed earnings allocated to participating securities | (17 | ) | (15 | ) | (26 | ) | |||||||
Preferred stock dividends | (53 | ) | (15 | ) | 0 | ||||||||
Net income available to common stockholders | $ | 4,089 | $ | 3,487 | $ | 3,121 | |||||||
Year Ended December 31, | |||||||||||||
(Dollars in millions) | 2013 | 2012 | 2011 | ||||||||||
Statements of cash flows | |||||||||||||
Operating activities: | |||||||||||||
Net income | $ | 4,159 | $ | 3,517 | $ | 3,147 | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||
Dividends (undistributed earnings) from subsidiaries: | |||||||||||||
Continuing operations | 1,305 | (3,569 | ) | (1,877 | ) | ||||||||
Discontinued operations | 233 | 217 | 106 | ||||||||||
Accretion | (57 | ) | (24 | ) | (2 | ) | |||||||
Stock plan compensation expense | 143 | 112 | 92 | ||||||||||
Decrease (increase) in other assets | (818 | ) | 1 | (65 | ) | ||||||||
Increase (decrease) in other liabilities | (388 | ) | (34 | ) | 18 | ||||||||
Net cash (used in) provided by operating activities | 4,577 | 220 | 1,419 | ||||||||||
Investing activities: | |||||||||||||
(Increase) decrease in investment in subsidiaries | 787 | (9,709 | ) | (46 | ) | ||||||||
Proceeds from maturities of securities available for sale | 46 | 24 | 0 | ||||||||||
Purchase of securities available for sale | (287 | ) | (351 | ) | (54 | ) | |||||||
(Increase) decrease in loans to subsidiaries | (153 | ) | (997 | ) | (1 | ) | |||||||
Proceeds from issuance of common stock for acquisition | 0 | 2,638 | 0 | ||||||||||
Net cash provided by (used in) investing activities | 393 | (8,395 | ) | (101 | ) | ||||||||
Financing activities: | |||||||||||||
(Decrease) increase in borrowings from subsidiaries | (3,490 | ) | 555 | 450 | |||||||||
Issuance of senior notes | 849 | 2,246 | 2,992 | ||||||||||
Maturities of senior notes | (1,040 | ) | (632 | ) | (855 | ) | |||||||
Dividends paid—common stock | (555 | ) | (111 | ) | (91 | ) | |||||||
Dividends paid—preferred stock | (53 | ) | (15 | ) | 0 | ||||||||
Purchases of treasury stock | (1,033 | ) | (43 | ) | (42 | ) | |||||||
Net proceeds from issuances of common stock | 81 | 3,233 | 40 | ||||||||||
Net proceeds from issuances of preferred stock | 0 | 853 | 0 | ||||||||||
Proceeds from stock-based payment activities | 114 | 80 | 57 | ||||||||||
Net cash (used in) provided by financing activities | (5,127 | ) | 6,166 | 2,551 | |||||||||
(Decrease) increase in cash and cash equivalents | (157 | ) | (2,009 | ) | 3,869 | ||||||||
Cash and cash equivalents at beginning of year | 7,342 | 9,351 | 5,482 | ||||||||||
Cash and cash equivalents at end of year | $ | 7,185 | $ | 7,342 | $ | 9,351 | |||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Sep. 06, 2013 | Jul. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | 1-May-12 | Dec. 31, 2013 | Feb. 17, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Benchmark | Y | Beech Street Capital [Member] | 2012 U.S. Card Acquisition [Member] | ING Direct [Member] | ING Direct [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||||
Segment | Accounts | Y | Y | |||||||||||
Component | ||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, date of acquisition | ' | ' | ' | ' | ' | ' | 1-Nov-13 | ' | 17-Feb-12 | ' | ' | ' | ' | ' |
Acquisition of mortgage servicing portfolio | ' | ' | ' | ' | ' | ' | $10,000,000,000 | ' | ' | ' | ' | ' | ' | ' |
Amount received from sale pursuant to the agreement | 6,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
New active accounts acquired at closing | ' | ' | ' | ' | ' | ' | ' | 27,000,000 | ' | ' | ' | ' | ' | ' |
Outstanding credit card receivables, acquired | ' | ' | ' | ' | ' | ' | ' | 27,800,000,000 | ' | ' | ' | ' | ' | ' |
Other net assets, acquired | ' | ' | ' | ' | ' | ' | ' | 327,000,000 | ' | ' | ' | ' | ' | ' |
Business acquisition, addition of loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,400,000,000 | ' | ' | ' | ' |
Business acquisition, other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,900,000,000 | ' | ' | ' | ' |
Business acquisition, deposits | ' | ' | ' | ' | ' | ' | ' | ' | ' | 84,400,000,000 | ' | ' | ' | ' |
Variable interest entities, minimum ownership percentage of consolidated subsidiaries | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | 50.00% |
Variable interest entities, maximum ownership percentage to carry investment at cost | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum term for loan modification under fixed payment plans (In months) | ' | ' | ' | '60 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due when credit card loans are classified as nonperforming (in days) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | '120 days | ' |
Number of days account is past due when credit card loans are charged-off (in days) | ' | ' | '120 days | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due when automobile and mortgage loans are classified as nonperforming (in days) | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due when non-credit card consumer loans are classified as nonperforming (in days) | ' | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of months of consecutive payments under modified loans for accounts to be reclassified from nonperforming (in months) | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of days from notification that account holders are deceased when credit card loans are charged-off (in days) | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due when mortgage and unsecured small business lines of credit consumer loans are charged-off (in days) | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due when auto and other non-credit card consumer loans are charged-off (in days) | ' | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of days from notification that account is in bankruptcy, except auto and other non-credit card loans, when consumer loans are charged-off (in days) | ' | ' | ' | '40 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due and given 60 days of notification from bankruptcy court, when auto and other non-credit card consumer loans are charged-off (in days) | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of days from notification that account is in bankruptcy when auto and other non-credit card consumer loans, that are 60 days past due, are charged-off (in days) | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of days when auto consumer loans are charged-off (in days) | ' | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of days when mortgage consumer loans are charged-off (in days) | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of days from notification that account holders are deceased when consumer loans are charged-off (in days) | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of components that are used to develop the allowance for loan and lease losses | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of segments in the consumer loan portfolio | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reward liability | ' | ' | 2,100,000,000 | 2,300,000,000 | 2,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit card fees amortization period | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of principal by the borrowers, period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | '3 years |
Initial term of partnership agreement | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | 2 | ' | 10 |
Renewal of partnership agreement term | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in interest income | ' | ' | ' | 965,000,000 | 885,000,000 | 607,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in charge-offs due to loss sharing agreements | ' | ' | ' | 161,000,000 | 167,000,000 | 118,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Expected reimbursement netted in allowance for loan losses | ' | ' | 170,000,000 | 128,000,000 | 170,000,000 | 139,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in the provision for loan and lease losses | ' | ' | ' | 119,000,000 | 199,000,000 | 257,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing expense | ' | ' | ' | $1,373,000,000 | $1,364,000,000 | $1,337,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of benchmark | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Useful Lives for Premises and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' |
Leasehold improvements | 'Lesser of useful life or the remaining fixed non-cancelable lease term |
Buildings and Improvement [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Lives, years | '5 years |
Buildings and Improvement [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Lives, years | '39 years |
Furniture and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Lives, years | '3 years |
Furniture and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Lives, years | '10 years |
Computers and Software [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Lives, years | '3 years |
Computers and Software [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Lives, years | '7 years |
Discontinued_Operations_Summar
Discontinued Operations - Summary of Results from Discontinued Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' | ' |
Non-interest expense, net | ($371) | ($343) | ($168) |
Loss from discontinued operations before taxes | -371 | -343 | -168 |
Income tax benefit | -138 | -126 | -62 |
Loss from discontinued operations | ($233) | ($217) | ($106) |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Remaining assets of discontinued operations | $370 | $309 | ' |
Remaining liabilities of discontinued operations | 960 | 644 | ' |
Wholesale Mortgage Banking Unit [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Representations and warranties expenses for discontinued operations | 333 | 307 | 169 |
Representations and warranties expenses for discontinued operations, net of tax | $210 | $194 | $120 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Security | ||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Percentage of portfolio invested in U.S. Treasury and agency securities | ' | 77.00% | 77.00% | ' |
Available for sale securities transferred to held to maturity | $18,300,000,000 | ' | ' | ' |
Pre-tax unrealized losses under securities | 1,500,000,000 | ' | ' | ' |
Number of sale securities exceeding amortized cost over fair value | ' | 900 | ' | ' |
Amortized cost exceeding fair value | ' | 631,000,000 | ' | ' |
Difference in amortized cost and fair value of securities that had been in a loss position for 12 months or longer | ' | 109,000,000 | ' | ' |
Unrealized losses related to non-agency RMBS and CMBS, ABS and other securities | ' | 166,000,000 | ' | ' |
Percent of total unrealized losses related to non-agency RMBS and CMBS, ABS and other securities | ' | 26.00% | ' | ' |
Difference in carrying value and fair value | ' | 35,000,000 | ' | ' |
Credit impairment recorded | ' | 14,000,000 | 22,000,000 | 3,000,000 |
Fair value of securities pledged | ' | 10,700,000,000 | 13,800,000,000 | ' |
Carrying value of securities pledged | ' | 8,200,000,000 | 0 | ' |
Encumbered amount of securities pledged as collateral | ' | 17,300,000,000 | 13,800,000,000 | ' |
Maximum [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Securities held to maturity | ' | 100 | ' | ' |
Derivatives [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Fair value of securities pledged, accepted | ' | 53,000,000 | 238,000,000 | ' |
Non-Agency [Member] | RMBS [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Credit impairment recorded | ' | 41,000,000 | ' | ' |
Non-credit related OTTI recorded in AOCI | ' | $12,000,000 | ' | ' |
Investment_Securities_Schedule
Investment Securities - Schedule of Investment Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Securities available for sale, at fair value | $41,800 | $63,979 |
Securities held to maturity, at carrying value | 19,132 | 9 |
Total investments | $60,932 | $63,988 |
Investment_Securities_Schedule1
Investment Securities - Schedule of Available-for-Sale Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $41,632 | $62,850 |
Gross Unrealized Gains | 799 | 1,249 |
Gross Unrealized Losses | -631 | -120 |
Total investment securities available for sale, Fair Value, Amount | 41,800 | 63,979 |
U.S. Treasury Debt Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 831 | 1,548 |
Gross Unrealized Gains | 2 | 4 |
Gross Unrealized Losses | 0 | 0 |
Total investment securities available for sale, Fair Value, Amount | 833 | 1,552 |
U.S. Agency Debt Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1 | 301 |
Gross Unrealized Gains | 0 | 2 |
Gross Unrealized Losses | 0 | -1 |
Total investment securities available for sale, Fair Value, Amount | 1 | 302 |
Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,282 | 1,003 |
Gross Unrealized Gains | 1 | 10 |
Gross Unrealized Losses | -49 | -1 |
Total investment securities available for sale, Fair Value, Amount | 1,234 | 1,012 |
RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 24,737 | 43,015 |
Gross Unrealized Gains | 689 | 964 |
Gross Unrealized Losses | -347 | -106 |
Total investment securities available for sale, Fair Value, Amount | 25,079 | 43,873 |
CMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 6,116 | 7,470 |
Gross Unrealized Gains | 34 | 165 |
Gross Unrealized Losses | -144 | -6 |
Total investment securities available for sale, Fair Value, Amount | 6,006 | 7,629 |
Other ABS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 7,123 | 8,393 |
Gross Unrealized Gains | 49 | 70 |
Gross Unrealized Losses | -36 | -5 |
Total investment securities available for sale, Fair Value, Amount | 7,136 | 8,458 |
Other Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,542 | 1,120 |
Gross Unrealized Gains | 24 | 34 |
Gross Unrealized Losses | -55 | -1 |
Total investment securities available for sale, Fair Value, Amount | 1,511 | 1,153 |
Agency [Member] | RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 21,572 | 39,408 |
Gross Unrealized Gains | 239 | 652 |
Gross Unrealized Losses | -332 | -58 |
Total investment securities available for sale, Fair Value, Amount | 21,479 | 40,002 |
Agency [Member] | CMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,262 | 6,045 |
Gross Unrealized Gains | 20 | 103 |
Gross Unrealized Losses | -84 | -4 |
Total investment securities available for sale, Fair Value, Amount | 4,198 | 6,144 |
Non-Agency [Member] | RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 3,165 | 3,607 |
Gross Unrealized Gains | 450 | 312 |
Gross Unrealized Losses | -15 | -48 |
Total investment securities available for sale, Fair Value, Amount | 3,600 | 3,871 |
Non-Agency [Member] | CMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,854 | 1,425 |
Gross Unrealized Gains | 14 | 62 |
Gross Unrealized Losses | -60 | -2 |
Total investment securities available for sale, Fair Value, Amount | $1,808 | $1,485 |
Investment_Securities_Schedule2
Investment Securities - Schedule of Available-for-Sale Securities (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Percentage of the securities in our asset-backed security portfolio were rated AAA or its equivalent | 87.00% | 82.00% |
Credit Card and Installment Loans [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Percentage distribution of securities collateralized | 65.00% | 64.00% |
Auto Dealer Floor Plan Inventory Loans and Leases [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Percentage distribution of securities collateralized | 15.00% | 18.00% |
RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Non-credit OTTI losses related to non-agency RMBS | 12 | 38 |
Investment_Securities_Investme
Investment Securities - Investment Securities Held to Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | $20,567 | $9 |
Unrealized Losses Recorded in AOCI | -1,435 | 0 |
Securities held to maturity, at carrying value | 19,132 | 9 |
Gross Unrealized Gains | 88 | 0 |
Gross Unrealized Losses | -35 | 0 |
Fair value of investment securities held to maturity, Total | 19,185 | 9 |
Other ABS [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | ' | 9 |
Unrealized Losses Recorded in AOCI | ' | 0 |
Securities held to maturity, at carrying value | ' | 9 |
Gross Unrealized Gains | ' | 0 |
Gross Unrealized Losses | ' | 0 |
Fair value of investment securities held to maturity, Total | ' | 9 |
Agency [Member] | RMBS [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 18,746 | ' |
Unrealized Losses Recorded in AOCI | -1,303 | ' |
Securities held to maturity, at carrying value | 17,443 | ' |
Gross Unrealized Gains | 72 | ' |
Gross Unrealized Losses | -30 | ' |
Fair value of investment securities held to maturity, Total | 17,485 | ' |
Agency [Member] | CMBS [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 1,821 | ' |
Unrealized Losses Recorded in AOCI | -132 | ' |
Securities held to maturity, at carrying value | 1,689 | ' |
Gross Unrealized Gains | 16 | ' |
Gross Unrealized Losses | -5 | ' |
Fair value of investment securities held to maturity, Total | $1,700 | ' |
Investment_Securities_Schedule3
Investment Securities - Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | $18,837 | $11,702 |
Less than 12 Months, Gross Unrealized Losses | -522 | -77 |
12 Months or Longer, Fair Value | 2,760 | 1,467 |
12 Months or Longer, Gross Unrealized Losses | -109 | -43 |
Total Fair Value | 21,597 | 13,169 |
Total Gross Unrealized Losses | -631 | -120 |
U.S. Agency Debt Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | ' | 199 |
Less than 12 Months, Gross Unrealized Losses | ' | -1 |
12 Months or Longer, Fair Value | ' | 0 |
12 Months or Longer, Gross Unrealized Losses | ' | 0 |
Total Fair Value | ' | 199 |
Total Gross Unrealized Losses | ' | -1 |
Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 1,143 | 172 |
Less than 12 Months, Gross Unrealized Losses | -47 | -1 |
12 Months or Longer, Fair Value | 46 | 0 |
12 Months or Longer, Gross Unrealized Losses | -2 | 0 |
Total Fair Value | 1,189 | 172 |
Total Gross Unrealized Losses | -49 | -1 |
RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 10,223 | 8,916 |
Less than 12 Months, Gross Unrealized Losses | -273 | -65 |
12 Months or Longer, Fair Value | 1,826 | 1,355 |
12 Months or Longer, Gross Unrealized Losses | -74 | -41 |
Total Fair Value | 12,049 | 10,271 |
Total Gross Unrealized Losses | -347 | -106 |
CMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 3,794 | 1,210 |
Less than 12 Months, Gross Unrealized Losses | -117 | -6 |
12 Months or Longer, Fair Value | 439 | 0 |
12 Months or Longer, Gross Unrealized Losses | -27 | 0 |
Total Fair Value | 4,233 | 1,210 |
Total Gross Unrealized Losses | -144 | -6 |
Other ABS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 2,528 | 1,102 |
Less than 12 Months, Gross Unrealized Losses | -34 | -4 |
12 Months or Longer, Fair Value | 392 | 99 |
12 Months or Longer, Gross Unrealized Losses | -2 | -1 |
Total Fair Value | 2,920 | 1,201 |
Total Gross Unrealized Losses | -36 | -5 |
Other Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 1,149 | 103 |
Less than 12 Months, Gross Unrealized Losses | -51 | 0 |
12 Months or Longer, Fair Value | 57 | 13 |
12 Months or Longer, Gross Unrealized Losses | -4 | -1 |
Total Fair Value | 1,206 | 116 |
Total Gross Unrealized Losses | -55 | -1 |
Agency [Member] | RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 9,769 | 8,720 |
Less than 12 Months, Gross Unrealized Losses | -263 | -46 |
12 Months or Longer, Fair Value | 1,770 | 884 |
12 Months or Longer, Gross Unrealized Losses | -69 | -12 |
Total Fair Value | 11,539 | 9,604 |
Total Gross Unrealized Losses | -332 | -58 |
Agency [Member] | CMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 2,842 | 1,009 |
Less than 12 Months, Gross Unrealized Losses | -74 | -4 |
12 Months or Longer, Fair Value | 256 | 0 |
12 Months or Longer, Gross Unrealized Losses | -10 | 0 |
Total Fair Value | 3,098 | 1,009 |
Total Gross Unrealized Losses | -84 | -4 |
Non-Agency [Member] | RMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 454 | 196 |
Less than 12 Months, Gross Unrealized Losses | -10 | -19 |
12 Months or Longer, Fair Value | 56 | 471 |
12 Months or Longer, Gross Unrealized Losses | -5 | -29 |
Total Fair Value | 510 | 667 |
Total Gross Unrealized Losses | -15 | -48 |
Non-Agency [Member] | CMBS [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 952 | 201 |
Less than 12 Months, Gross Unrealized Losses | -43 | -2 |
12 Months or Longer, Fair Value | 183 | 0 |
12 Months or Longer, Gross Unrealized Losses | -17 | 0 |
Total Fair Value | 1,135 | 201 |
Total Gross Unrealized Losses | ($60) | ($2) |
Investment_Securities_Schedule4
Investment Securities - Schedule of Contractual Maturities for Available for Sale Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Due in 1 year or less, Amortized Cost | $1,876 | ' |
Due after 1 year through 5 years, Amortized Cost | 5,668 | ' |
Due after 5 years through 10 years, Amortized Cost | 4,204 | ' |
Due after 10 years, Amortized Cost | 29,884 | ' |
Total Amortized Cost | 41,632 | 62,850 |
Due in 1 year or less, Fair Value | 1,879 | ' |
Due after 1 year through 5 years, Fair Value | 5,673 | ' |
Due after 5 years through 10 years, Fair Value | 4,112 | ' |
Due after 10 years, Fair Value | 30,136 | ' |
Total investment securities available for sale, Fair Value, Amount | $41,800 | $63,979 |
Investment_Securities_Schedule5
Investment Securities - Schedule of Contractual Maturities of Securities Held to Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Due after 5 years through 10 years, Carrying Value | $1,062 | ' |
Due after 10 years, Carrying Value | 18,070 | ' |
Securities held to maturity, at carrying value | 19,132 | 9 |
Due after 5 years through 10 years, Fair Value | 1,076 | ' |
Due after 10 years, Fair Value | 18,109 | ' |
Fair value of investment securities held to maturity, Total | $19,185 | $9 |
Investment_Securities_Schedule6
Investment Securities - Schedule of Expected Maturities and Weighted Average Yields of Investment Securities by Major Security Type (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | $3,022 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 16,212 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 21,893 | ' |
Total securities available for sale, Due> 10 Years, Amount | 673 | ' |
Total investment securities available for sale, Fair Value, Amount | 41,800 | 63,979 |
Amortized cost of securities available-for-sale, Due in 1 Year or Less, Amount | 3,019 | ' |
Amortized cost of securities available-for-sale, Due> 1 Year through 5 Years, Amount | 16,028 | ' |
Amortized cost of securities available-for-sale, Due> 5 Years through 10 Years, Amount | 22,001 | ' |
Amortized cost of securities available-for-sale, Due> 10 Years, Amount | 584 | ' |
Total Amortized Cost | 41,632 | 62,850 |
Total securities available for sale, Due in 1 Year or Less, Average Yield | 1.25% | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Average Yield | 2.29% | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Average Yield | 2.68% | ' |
Total securities available for sale, Due> 10 Years, Average Yield | 7.57% | ' |
Total securities available for sale, Total Average Yield | 2.50% | ' |
Total securities held to maturity, Due in 1 Year or Less, Carrying amount | 0 | ' |
Total securities held to maturity, Due> 1 Year through 5 Years, Carrying amount | 400 | ' |
Total securities held to maturity, Due> 5 Years through 10 Years, Carrying amount | 13,126 | ' |
Total securities held to maturity, Due> 10 Years, Carrying amount | 5,606 | ' |
Securities held to maturity, at carrying value | 19,132 | 9 |
Fair value of securities held to maturity, Due in 1 Year or Less | 0 | ' |
Fair value of securities held to maturity, Due> 1 Year through 5 Years | 400 | ' |
Fair value of securities held to maturity, Due> 5 Years through 10 Years | 13,164 | ' |
Fair value of securities held to maturity, Due> 10 Years | 5,621 | ' |
Fair value of investment securities held to maturity, Total | 19,185 | 9 |
Total securities held to maturity, Due in 1 Year or Less, Average Yield | 0.00% | ' |
Total securities held to maturity, Due> 1 Year through 5 Years, Average Yield | 3.46% | ' |
Total securities held to maturity, Due> 5 Years through 10 Years, Average Yield | 3.09% | ' |
Total securities held to maturity, Due> 10 Years, Average Yield | 3.33% | ' |
Total securities held to maturity, Total Average Yield | 3.17% | ' |
U.S. Treasury Debt Obligations [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 663 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 170 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 0 | ' |
Total securities available for sale, Due> 10 Years, Amount | 0 | ' |
Total investment securities available for sale, Fair Value, Amount | 833 | 1,552 |
Total Amortized Cost | 831 | 1,548 |
U.S. Agency Debt Obligations [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 1 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 0 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 0 | ' |
Total securities available for sale, Due> 10 Years, Amount | 0 | ' |
Total investment securities available for sale, Fair Value, Amount | 1 | 302 |
Total Amortized Cost | 1 | 301 |
Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 0 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 220 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 1,001 | ' |
Total securities available for sale, Due> 10 Years, Amount | 13 | ' |
Total investment securities available for sale, Fair Value, Amount | 1,234 | 1,012 |
Total Amortized Cost | 1,282 | 1,003 |
RMBS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 136 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 7,326 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 17,211 | ' |
Total securities available for sale, Due> 10 Years, Amount | 406 | ' |
Total investment securities available for sale, Fair Value, Amount | 25,079 | 43,873 |
Total Amortized Cost | 24,737 | 43,015 |
CMBS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 468 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 3,365 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 2,155 | ' |
Total securities available for sale, Due> 10 Years, Amount | 18 | ' |
Total investment securities available for sale, Fair Value, Amount | 6,006 | 7,629 |
Total Amortized Cost | 6,116 | 7,470 |
Other ABS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 1,580 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 4,628 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 808 | ' |
Total securities available for sale, Due> 10 Years, Amount | 120 | ' |
Total investment securities available for sale, Fair Value, Amount | 7,136 | 8,458 |
Total Amortized Cost | 7,123 | 8,393 |
Securities held to maturity, at carrying value | ' | 9 |
Fair value of investment securities held to maturity, Total | ' | 9 |
Other Securities [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 174 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 503 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 718 | ' |
Total securities available for sale, Due> 10 Years, Amount | 116 | ' |
Total investment securities available for sale, Fair Value, Amount | 1,511 | 1,153 |
Total Amortized Cost | 1,542 | 1,120 |
Agency [Member] | RMBS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 94 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 5,721 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 15,664 | ' |
Total securities available for sale, Due> 10 Years, Amount | 0 | ' |
Total investment securities available for sale, Fair Value, Amount | 21,479 | 40,002 |
Total Amortized Cost | 21,572 | 39,408 |
Total securities held to maturity, Due in 1 Year or Less, Carrying amount | 0 | ' |
Total securities held to maturity, Due> 1 Year through 5 Years, Carrying amount | 0 | ' |
Total securities held to maturity, Due> 5 Years through 10 Years, Carrying amount | 11,845 | ' |
Total securities held to maturity, Due> 10 Years, Carrying amount | 5,598 | ' |
Securities held to maturity, at carrying value | 17,443 | ' |
Fair value of investment securities held to maturity, Total | 17,485 | ' |
Agency [Member] | CMBS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 358 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 2,884 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 956 | ' |
Total securities available for sale, Due> 10 Years, Amount | 0 | ' |
Total investment securities available for sale, Fair Value, Amount | 4,198 | 6,144 |
Total Amortized Cost | 4,262 | 6,045 |
Total securities held to maturity, Due in 1 Year or Less, Carrying amount | 0 | ' |
Total securities held to maturity, Due> 1 Year through 5 Years, Carrying amount | 400 | ' |
Total securities held to maturity, Due> 5 Years through 10 Years, Carrying amount | 1,281 | ' |
Total securities held to maturity, Due> 10 Years, Carrying amount | 8 | ' |
Securities held to maturity, at carrying value | 1,689 | ' |
Fair value of investment securities held to maturity, Total | 1,700 | ' |
Non-Agency [Member] | RMBS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 42 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 1,605 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 1,547 | ' |
Total securities available for sale, Due> 10 Years, Amount | 406 | ' |
Total investment securities available for sale, Fair Value, Amount | 3,600 | 3,871 |
Total Amortized Cost | 3,165 | 3,607 |
Non-Agency [Member] | CMBS [Member] | ' | ' |
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items] | ' | ' |
Total securities available for sale, Due in 1 Year or Less, Amount | 110 | ' |
Total securities available for sale, Due> 1 Year through 5 Years, Amount | 481 | ' |
Total securities available for sale, Due> 5 Years through 10 Years, Amount | 1,199 | ' |
Total securities available for sale, Due> 10 Years, Amount | 18 | ' |
Total investment securities available for sale, Fair Value, Amount | 1,808 | 1,485 |
Total Amortized Cost | $1,854 | $1,425 |
Investment_Securities_Schedule7
Investment Securities - Schedule of Credit Losses Related to Debt Securities Recognized in Earnings (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' |
Credit loss component, beginning of period | $120 | $68 | $49 |
Additions: | ' | ' | ' |
Initial credit impairment | 14 | 22 | 3 |
Subsequent credit impairment | 27 | 30 | 18 |
Total additions | 41 | 52 | 21 |
Reductions: | ' | ' | ' |
Payoff or sales of credit-impaired securities | -1 | 0 | -2 |
Credit loss component, end of period | $160 | $120 | $68 |
Investment_Securities_Schedule8
Investment Securities - Schedule of Gross Realized Gains and Losses on Sale and Redemption of Available-for-Sale Securities Recognized in Earnings (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' |
Gross realized investment gains | $8 | $56 | $259 |
Gross realized investment losses | -1 | -11 | 0 |
Net realized gains | 7 | 45 | 259 |
Total proceeds from sales | $2,539 | $16,894 | $9,169 |
Investment_Securities_Schedule9
Investment Securities - Schedule of Outstanding Contractual Balance and Carrying Value of Credit-Impaired ING Direct Debt Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Contractual principal and interest | $4,700 | $5,242 |
Carrying value | 2,896 | 2,887 |
Amortized Cost | $2,432 | $2,585 |
Recovered_Sheet1
Investment Securities - Schedule of Changes in Accretable Yield of Acquired Securities (Detail) (Purchased Credit-Impaired Securities [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Purchased Credit-Impaired Securities [Member] | ' | ' |
Loans Acquired Accounted For As Debt Securities General Items [Line Items] | ' | ' |
Accretable yield beginning balance | $1,512 | $0 |
Additions from new acquisitions | 88 | 1,743 |
Accretion recognized in earnings | -247 | -202 |
Reductions due to disposals, transfers, and other | -2 | 0 |
Net reclassifications (to)/from nonaccretable difference | 72 | -29 |
Accretable yield ending balance | $1,423 | $1,512 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
Sep. 06, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | |
Consumer Banking [Member] | Consumer Banking [Member] | Commercial Banking [Member] | Commercial Banking [Member] | Residential Mortgage Loans and Commercial Multifamily Real Estate Loans [Member] | Residential Mortgage Loans and Commercial Multifamily Real Estate Loans [Member] | Residential Mortgage Loans and Commercial Multifamily Real Estate Loans [Member] | 2012 U.S. Card Acquisition [Member] | 2012 U.S. Card Acquisition [Member] | Credit Card [Member] | Credit Card [Member] | Credit Card [Member] | Acquired Loans [Member] | Acquired Loans [Member] | ||||||
Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total loans held for investment | ' | ' | $197,199,000,000 | $205,889,000,000 | $135,892,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $81,305,000,000 | $91,755,000,000 | $65,075,000,000 | $37,134,000,000 | $28,550,000,000 |
Increase (decrease) in allowance related to pools of accounts | ' | ' | -19,000,000 | 31,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance on acquired loans | ' | ' | 38,000,000 | 57,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,000,000 | 38,000,000 |
Loans designated as held for investment acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,200,000,000 | ' | ' | ' | ' | ' | ' |
Loans contractual cash flows at acquisition, estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,900,000,000 | ' | ' | ' | ' | ' | ' |
Loans contractual cash flows at acquisition, net premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 705,000,000 | ' | ' | ' | ' | ' | ' |
Provision for credit losses | ' | ' | 3,453,000,000 | 4,415,000,000 | 2,360,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,824,000,000 | 4,061,000,000 | 1,870,000,000 | 1,200,000,000 | ' |
Held for sale loans from acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 471,000,000 | ' | ' | ' | ' | ' |
Assets subject to sale agreement, loan | ' | 7,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment to portfolio asset lower of cost or fair value | 26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total loans held for sale | ' | ' | 218,000,000 | 201,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days account is past due when loans are reported delinquent (in days) | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage, 30+ day delinquencies | ' | ' | 3.54% | 3.69% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.54% | 3.69% | ' | 0.07% | 0.02% |
Minimum loan amount requiring annual review | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum loan amount reviewed quarterly by management for further deterioration | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Troubled debt restructurings included in impaired loans | ' | ' | 1,700,000,000 | 1,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TDRs classified as performing loans | ' | ' | ' | ' | ' | 1,100,000,000 | 1,200,000,000 | 180,000,000 | 253,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused credit card lines available to customers | ' | ' | 276,700,000,000 | 298,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding unfunded commitments to extend credit other than credit card lines | ' | ' | 20,900,000,000 | 17,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in revenue | ' | ' | 796,000,000 | 937,000,000 | 371,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finance charge and fee reserve | ' | ' | 190,000,000 | 307,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Origination of conforming residential mortgage loans and commercial multifamily real estate loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,100,000,000 | $1,600,000,000 | $954,000,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of servicing on conforming residential mortgage loans and commercial multifamily real estate loans retained after sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92.00% | 92.00% | 91.00% | ' | ' | ' | ' | ' | ' | ' |
Loans_Composition_of_Loans_Hel
Loans - Composition of Loans Held-for-Investment Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Receivables [Abstract] | ' | ' | ' |
Domestic credit card loans | $72,932 | $82,328 | ' |
International credit card loans | 8,050 | 8,614 | ' |
Total credit card loans | 80,982 | 90,942 | ' |
Domestic installment loans | 323 | 813 | ' |
Total credit card | 81,305 | 91,755 | ' |
Auto | 31,857 | 27,123 | ' |
Home loan | 35,282 | 44,100 | ' |
Retail banking | 3,623 | 3,904 | ' |
Total consumer banking | 70,762 | 75,127 | ' |
Commercial and multifamily real estate | 20,750 | 17,732 | ' |
Commercial and industrial | 23,309 | 19,892 | ' |
Total commercial lending | 44,059 | 37,624 | ' |
Small-ticket commercial real estate | 952 | 1,196 | ' |
Total commercial banking | 45,011 | 38,820 | ' |
Other loans | 121 | 187 | ' |
Total loans held for investment | $197,199 | $205,889 | $135,892 |
Loans_Composition_of_Loans_Hel1
Loans - Composition of Loans Held-for-Investment Portfolio (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Billions, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Construction loans and land development loans | $2 | $2.10 |
Loans_Aging_of_HeldforInvestme
Loans - Aging of Held-for-Investment Loans by Portfolio Segment and Class (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | $73,255 | $83,141 | ' |
International credit card | 8,050 | 8,614 | ' |
Total credit card | 81,305 | 91,755 | ' |
Auto | 31,857 | 27,123 | ' |
Home loan | 35,282 | 44,100 | ' |
Retail banking | 3,623 | 3,904 | ' |
Total consumer banking | 70,762 | 75,127 | ' |
Commercial and multifamily real estate | 20,750 | 17,732 | ' |
Commercial and industrial | 23,309 | 19,892 | ' |
Total commercial lending | 44,059 | 37,624 | ' |
Small-ticket commercial real estate | 952 | 1,196 | ' |
Total commercial banking | 45,011 | 38,820 | ' |
Other loans | 121 | 187 | ' |
Total loans held for investment | 197,199 | 205,889 | 135,892 |
% of Total loans | 100.00% | 100.00% | ' |
Current [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 70,678 | 79,852 | ' |
International credit card | 7,683 | 8,227 | ' |
Total credit card | 78,361 | 88,079 | ' |
Auto | 29,477 | 25,057 | ' |
Home loan | 6,775 | 7,317 | ' |
Retail banking | 3,535 | 3,789 | ' |
Total consumer banking | 39,787 | 36,163 | ' |
Commercial and multifamily real estate | 20,602 | 17,357 | ' |
Commercial and industrial | 23,023 | 19,525 | ' |
Total commercial lending | 43,625 | 36,882 | ' |
Small-ticket commercial real estate | 941 | 1,153 | ' |
Total commercial banking | 44,566 | 38,035 | ' |
Other loans | 102 | 118 | ' |
Total loans held for investment | 162,816 | 162,395 | ' |
% of Total loans | 82.50% | 78.90% | ' |
30-59 Days [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 778 | 932 | ' |
International credit card | 141 | 145 | ' |
Total credit card | 919 | 1,077 | ' |
Auto | 1,519 | 1,341 | ' |
Home loan | 60 | 63 | ' |
Retail banking | 21 | 26 | ' |
Total consumer banking | 1,600 | 1,430 | ' |
Commercial and multifamily real estate | 17 | 64 | ' |
Commercial and industrial | 69 | 57 | ' |
Total commercial lending | 86 | 121 | ' |
Small-ticket commercial real estate | 8 | 28 | ' |
Total commercial banking | 94 | 149 | ' |
Other loans | 4 | 8 | ' |
Total loans held for investment | 2,617 | 2,664 | ' |
% of Total loans | 1.30% | 1.30% | ' |
60-89 Days [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 549 | 659 | ' |
International credit card | 85 | 89 | ' |
Total credit card | 634 | 748 | ' |
Auto | 662 | 559 | ' |
Home loan | 24 | 29 | ' |
Retail banking | 8 | 10 | ' |
Total consumer banking | 694 | 598 | ' |
Commercial and multifamily real estate | 11 | 77 | ' |
Commercial and industrial | 1 | 3 | ' |
Total commercial lending | 12 | 80 | ' |
Small-ticket commercial real estate | 2 | 9 | ' |
Total commercial banking | 14 | 89 | ' |
Other loans | 2 | 5 | ' |
Total loans held for investment | 1,344 | 1,440 | ' |
% of Total loans | 0.80% | 0.70% | ' |
Greater Than or Equal to 90 Days [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 1,187 | 1,410 | ' |
International credit card | 141 | 153 | ' |
Total credit card | 1,328 | 1,563 | ' |
Auto | 194 | 149 | ' |
Home loan | 239 | 288 | ' |
Retail banking | 23 | 45 | ' |
Total consumer banking | 456 | 482 | ' |
Commercial and multifamily real estate | 36 | 107 | ' |
Commercial and industrial | 38 | 75 | ' |
Total commercial lending | 74 | 182 | ' |
Small-ticket commercial real estate | 1 | 6 | ' |
Total commercial banking | 75 | 188 | ' |
Other loans | 13 | 23 | ' |
Total loans held for investment | 1,872 | 2,256 | ' |
% of Total loans | 0.90% | 1.10% | ' |
Total Delinquent Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 2,514 | 3,001 | ' |
International credit card | 367 | 387 | ' |
Total credit card | 2,881 | 3,388 | ' |
Auto | 2,375 | 2,049 | ' |
Home loan | 323 | 380 | ' |
Retail banking | 52 | 81 | ' |
Total consumer banking | 2,750 | 2,510 | ' |
Commercial and multifamily real estate | 64 | 248 | ' |
Commercial and industrial | 108 | 135 | ' |
Total commercial lending | 172 | 383 | ' |
Small-ticket commercial real estate | 11 | 43 | ' |
Total commercial banking | 183 | 426 | ' |
Other loans | 19 | 36 | ' |
Total loans held for investment | 5,833 | 6,360 | ' |
% of Total loans | 3.00% | 3.10% | ' |
Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 63 | 288 | ' |
International credit card | 0 | 0 | ' |
Total credit card | 63 | 288 | ' |
Auto | 5 | 17 | ' |
Home loan | 28,184 | 36,403 | ' |
Retail banking | 36 | 34 | ' |
Total consumer banking | 28,225 | 36,454 | ' |
Commercial and multifamily real estate | 84 | 127 | ' |
Commercial and industrial | 178 | 232 | ' |
Total commercial lending | 262 | 359 | ' |
Small-ticket commercial real estate | 0 | 0 | ' |
Total commercial banking | 262 | 359 | ' |
Other loans | 0 | 33 | ' |
Total loans held for investment | 28,550 | 37,134 | ' |
% of Total loans | 14.50% | 18.00% | ' |
Greater Than or Equal to 90 Days and Accruing [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 1,187 | 1,410 | ' |
International credit card | 96 | 100 | ' |
Total credit card | 1,283 | 1,510 | ' |
Auto | 0 | 0 | ' |
Home loan | 0 | 0 | ' |
Retail banking | 2 | 1 | ' |
Total consumer banking | 2 | 1 | ' |
Commercial and multifamily real estate | 2 | 2 | ' |
Commercial and industrial | 4 | 14 | ' |
Total commercial lending | 6 | 16 | ' |
Small-ticket commercial real estate | 0 | 0 | ' |
Total commercial banking | 6 | 16 | ' |
Other loans | 0 | 0 | ' |
Total loans held for investment | 1,291 | 1,527 | ' |
% of Total loans | 0.70% | 0.70% | ' |
Nonperforming Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Domestic credit card | 0 | 0 | ' |
International credit card | 88 | 100 | ' |
Total credit card | 88 | 100 | ' |
Auto | 194 | 149 | ' |
Home loan | 376 | 422 | ' |
Retail banking | 41 | 71 | ' |
Total consumer banking | 611 | 642 | ' |
Commercial and multifamily real estate | 52 | 137 | ' |
Commercial and industrial | 93 | 133 | ' |
Total commercial lending | 145 | 270 | ' |
Small-ticket commercial real estate | 4 | 12 | ' |
Total commercial banking | 149 | 282 | ' |
Other loans | 19 | 30 | ' |
Total loans held for investment | $867 | $1,054 | ' |
% of Total loans | 0.40% | 0.50% | ' |
Loans_Credit_Card_Risk_Profile
Loans - Credit Card: Risk Profile by Geographic Region and Delinquency Status (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | $81,305 | $91,755 |
Amount, 30+ day delinquencies | 2,881 | 3,388 |
Amount, 90+ day delinquencies | 1,328 | 1,563 |
% of Total | 100.00% | 100.00% |
Percentage, 30+ day delinquencies | 3.54% | 3.69% |
Percentage, 90+ day delinquencies | 1.63% | 1.70% |
California [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 7,940 | 9,276 |
% of Total | 9.80% | 10.10% |
Texas [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4,993 | 5,933 |
% of Total | 6.10% | 6.50% |
New York [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 5,277 | 5,869 |
% of Total | 6.50% | 6.40% |
Florida [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4,325 | 4,852 |
% of Total | 5.30% | 5.30% |
Illinois [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3,603 | 4,115 |
% of Total | 4.40% | 4.50% |
Pennsylvania [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3,442 | 3,875 |
% of Total | 4.20% | 4.20% |
Ohio [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2,965 | 3,363 |
% of Total | 3.60% | 3.60% |
New Jersey [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2,736 | 3,070 |
% of Total | 3.40% | 3.30% |
Michigan [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2,595 | 2,928 |
% of Total | 3.20% | 3.20% |
Other [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 35,379 | 39,860 |
% of Total | 43.60% | 43.50% |
Total Domestic Credit Card and Installment Loans [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 73,255 | 83,141 |
% of Total | 90.10% | 90.60% |
United Kingdom [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3,547 | 3,678 |
% of Total | 4.40% | 4.00% |
Canada [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4,503 | 4,936 |
% of Total | 5.50% | 5.40% |
Total International Credit Card [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 8,050 | 8,614 |
% of Total | 9.90% | 9.40% |
Loans [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 81,242 | 91,467 |
Amount, 30+ day delinquencies | 2,864 | 3,326 |
Amount, 90+ day delinquencies | 1,321 | 1,530 |
% of Total | 99.90% | 99.70% |
Percentage, 30+ day delinquencies | 3.52% | 3.62% |
Percentage, 90+ day delinquencies | 1.62% | 1.67% |
Loans [Member] | California [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 7,934 | 9,245 |
% of Total | 9.80% | 10.00% |
Loans [Member] | Texas [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4,989 | 5,910 |
% of Total | 6.10% | 6.50% |
Loans [Member] | New York [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 5,271 | 5,846 |
% of Total | 6.50% | 6.40% |
Loans [Member] | Florida [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4,321 | 4,835 |
% of Total | 5.30% | 5.30% |
Loans [Member] | Illinois [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3,600 | 4,100 |
% of Total | 4.40% | 4.50% |
Loans [Member] | Pennsylvania [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3,439 | 3,861 |
% of Total | 4.20% | 4.20% |
Loans [Member] | Ohio [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2,963 | 3,351 |
% of Total | 3.60% | 3.60% |
Loans [Member] | New Jersey [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2,734 | 3,060 |
% of Total | 3.40% | 3.30% |
Loans [Member] | Michigan [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2,593 | 2,917 |
% of Total | 3.20% | 3.20% |
Loans [Member] | Other [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 35,348 | 39,728 |
% of Total | 43.50% | 43.30% |
Loans [Member] | Total Domestic Credit Card and Installment Loans [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 73,192 | 82,853 |
% of Total | 90.00% | 90.30% |
Loans [Member] | United Kingdom [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3,547 | 3,678 |
% of Total | 4.40% | 4.00% |
Loans [Member] | Canada [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4,503 | 4,936 |
% of Total | 5.50% | 5.40% |
Loans [Member] | Total International Credit Card [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 8,050 | 8,614 |
% of Total | 9.90% | 9.40% |
Acquired Loans [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 63 | 288 |
Amount, 30+ day delinquencies | 17 | 62 |
Amount, 90+ day delinquencies | 7 | 33 |
% of Total | 0.10% | 0.30% |
Percentage, 30+ day delinquencies | 0.02% | 0.07% |
Percentage, 90+ day delinquencies | 0.01% | 0.03% |
Acquired Loans [Member] | California [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 6 | 31 |
% of Total | 0.00% | 0.10% |
Acquired Loans [Member] | Texas [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4 | 23 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | New York [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 6 | 23 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Florida [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 4 | 17 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Illinois [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3 | 15 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Pennsylvania [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 3 | 14 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Ohio [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2 | 12 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | New Jersey [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2 | 10 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Michigan [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 2 | 11 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Other [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 31 | 132 |
% of Total | 0.10% | 0.20% |
Acquired Loans [Member] | Total Domestic Credit Card and Installment Loans [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 63 | 288 |
% of Total | 0.10% | 0.30% |
Acquired Loans [Member] | United Kingdom [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 0 | 0 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Canada [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | 0 | 0 |
% of Total | 0.00% | 0.00% |
Acquired Loans [Member] | Total International Credit Card [Member] | ' | ' |
Credit Card Risk Profile By Geographic Region And Delinquency Status [Line Items] | ' | ' |
Total credit card and installment loans | $0 | $0 |
% of Total | 0.00% | 0.00% |
Loans_Credit_Card_Net_ChargeOf
Loans - Credit Card: Net Charge-Offs (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' |
Amount of Net charge-offs, Domestic credit card | $2,904 | $2,532 |
Amount of Net charge-offs, International credit card | 381 | 412 |
Total Amount of Net charge-offs | $3,285 | $2,944 |
Rate, Net charge-offs, Domestic credit card | 4.08% | 3.53% |
Rate, Net charge-offs, International credit card | 4.78% | 4.98% |
Total Rate, Net charge-offs | 4.15% | 3.68% |
Loans_Consumer_Banking_Risk_Pr
Loans - Consumer Banking: Risk Profile by Geographic Region, Delinquency Status and Performing Status (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | $31,857 | $27,123 |
Total home loan | 35,282 | 44,100 |
Total retail banking | 3,623 | 3,904 |
Total consumer banking | 70,762 | 75,127 |
Percent of total consumer banking | 100.00% | 100.00% |
Amount, 30+ day delinquencies | 2,750 | 2,510 |
Amount, 90+ day delinquencies | 456 | 482 |
Amount, Nonperforming loans | 611 | 642 |
Adjusted Rate, 30+ day delinquencies | 6.47% | 6.49% |
Adjusted Rate, 90+ day delinquencies | 1.07% | 1.25% |
Adjusted Rate, Nonperforming loans | 1.44% | 1.66% |
California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 8,163 | 10,266 |
Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,654 | 2,046 |
Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,329 | ' |
Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 2,271 | 2,977 |
Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 10,764 | 13,523 |
New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 2,767 | 3,276 |
Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,913 | 2,281 |
New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,771 | 2,119 |
Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,718 | 2,090 |
Auto [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 31,857 | 27,123 |
Percent of total consumer banking | 45.00% | 36.10% |
Amount, 30+ day delinquencies | 2,375 | 2,049 |
Amount, 90+ day delinquencies | 194 | 149 |
Amount, Nonperforming loans | 194 | 149 |
Adjusted Rate, 30+ day delinquencies | 7.46% | 7.56% |
Adjusted Rate, 90+ day delinquencies | 0.61% | 0.55% |
Adjusted Rate, Nonperforming loans | 0.61% | 0.55% |
Auto [Member] | Texas [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 4,736 | 4,317 |
Percent of total consumer banking | 6.70% | 5.70% |
Auto [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 3,297 | 2,676 |
Percent of total consumer banking | 4.70% | 3.60% |
Auto [Member] | Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 2,076 | 1,621 |
Percent of total consumer banking | 2.90% | 2.10% |
Auto [Member] | Georgia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,709 | 1,404 |
Percent of total consumer banking | 2.40% | 1.90% |
Auto [Member] | Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,677 | 1,504 |
Percent of total consumer banking | 2.40% | 2.00% |
Auto [Member] | Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,291 | 1,134 |
Percent of total consumer banking | 1.80% | 1.50% |
Auto [Member] | Ohio [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,267 | 1,032 |
Percent of total consumer banking | 1.80% | 1.40% |
Auto [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 15,804 | 13,435 |
Percent of total consumer banking | 22.30% | 17.90% |
Home Loan [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 35,282 | 44,100 |
Percent of total consumer banking | 49.90% | 58.70% |
Amount, 30+ day delinquencies | 323 | 380 |
Amount, 90+ day delinquencies | 239 | 288 |
Amount, Nonperforming loans | 376 | 422 |
Adjusted Rate, 30+ day delinquencies | 4.55% | 4.94% |
Adjusted Rate, 90+ day delinquencies | 3.37% | 3.74% |
Adjusted Rate, Nonperforming loans | 5.29% | 5.48% |
Home Loan [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 8,163 | 10,266 |
Percent of total consumer banking | 11.60% | 13.70% |
Home Loan [Member] | Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,654 | 2,046 |
Percent of total consumer banking | 2.40% | 2.80% |
Home Loan [Member] | Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 2,271 | 2,977 |
Percent of total consumer banking | 3.20% | 3.90% |
Home Loan [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 15,025 | 19,045 |
Percent of total consumer banking | 21.20% | 25.40% |
Home Loan [Member] | New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 2,767 | 3,276 |
Percent of total consumer banking | 3.90% | 4.30% |
Home Loan [Member] | Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,913 | 2,281 |
Percent of total consumer banking | 2.70% | 3.00% |
Home Loan [Member] | New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,771 | 2,119 |
Percent of total consumer banking | 2.50% | 2.80% |
Home Loan [Member] | Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,718 | 2,090 |
Percent of total consumer banking | 2.40% | 2.80% |
Retail Banking [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 3,623 | 3,904 |
Percent of total consumer banking | 5.10% | 5.20% |
Amount, 30+ day delinquencies | 52 | 81 |
Amount, 90+ day delinquencies | 23 | 45 |
Amount, Nonperforming loans | 41 | 71 |
Adjusted Rate, 30+ day delinquencies | 1.46% | 2.09% |
Adjusted Rate, 90+ day delinquencies | 0.66% | 1.16% |
Adjusted Rate, Nonperforming loans | 1.15% | 1.83% |
Retail Banking [Member] | Texas [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 772 | 844 |
Percent of total consumer banking | 1.10% | 1.10% |
Retail Banking [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 37 | 47 |
Percent of total consumer banking | 0.10% | 0.10% |
Retail Banking [Member] | Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 1,234 | 1,447 |
Percent of total consumer banking | 1.70% | 1.90% |
Retail Banking [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 191 | 187 |
Percent of total consumer banking | 0.30% | 0.20% |
Retail Banking [Member] | New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 859 | 864 |
Percent of total consumer banking | 1.20% | 1.20% |
Retail Banking [Member] | Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 142 | 116 |
Percent of total consumer banking | 0.20% | 0.20% |
Retail Banking [Member] | New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 280 | 312 |
Percent of total consumer banking | 0.40% | 0.40% |
Retail Banking [Member] | Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 108 | 87 |
Percent of total consumer banking | 0.10% | 0.10% |
Loans [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total consumer banking | 42,537 | 38,673 |
Percent of total consumer banking | 60.10% | 51.40% |
Loans [Member] | Auto [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 31,852 | 27,106 |
Percent of total consumer banking | 45.00% | 36.00% |
Loans [Member] | Auto [Member] | Texas [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 4,736 | 4,317 |
Percent of total consumer banking | 6.70% | 5.70% |
Loans [Member] | Auto [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 3,297 | 2,676 |
Percent of total consumer banking | 4.70% | 3.60% |
Loans [Member] | Auto [Member] | Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 2,076 | 1,621 |
Percent of total consumer banking | 2.90% | 2.10% |
Loans [Member] | Auto [Member] | Georgia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,709 | 1,404 |
Percent of total consumer banking | 2.40% | 1.90% |
Loans [Member] | Auto [Member] | Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,677 | 1,504 |
Percent of total consumer banking | 2.40% | 2.00% |
Loans [Member] | Auto [Member] | Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,291 | 1,134 |
Percent of total consumer banking | 1.80% | 1.50% |
Loans [Member] | Auto [Member] | Ohio [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 1,267 | 1,032 |
Percent of total consumer banking | 1.80% | 1.40% |
Loans [Member] | Auto [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 15,799 | 13,418 |
Percent of total consumer banking | 22.30% | 17.80% |
Loans [Member] | Home Loan [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 7,098 | 7,697 |
Percent of total consumer banking | 10.10% | 10.30% |
Loans [Member] | Home Loan [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,010 | 1,168 |
Percent of total consumer banking | 1.50% | 1.60% |
Loans [Member] | Home Loan [Member] | Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 177 | 183 |
Percent of total consumer banking | 0.30% | 0.30% |
Loans [Member] | Home Loan [Member] | Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 88 | 102 |
Percent of total consumer banking | 0.10% | 0.10% |
Loans [Member] | Home Loan [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 3,190 | 3,419 |
Percent of total consumer banking | 4.50% | 4.60% |
Loans [Member] | Home Loan [Member] | New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,502 | 1,678 |
Percent of total consumer banking | 2.10% | 2.20% |
Loans [Member] | Home Loan [Member] | Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 418 | 403 |
Percent of total consumer banking | 0.60% | 0.50% |
Loans [Member] | Home Loan [Member] | New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 362 | 402 |
Percent of total consumer banking | 0.50% | 0.50% |
Loans [Member] | Home Loan [Member] | Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 351 | 342 |
Percent of total consumer banking | 0.50% | 0.50% |
Loans [Member] | Retail Banking [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 3,587 | 3,870 |
Percent of total consumer banking | 5.00% | 5.10% |
Loans [Member] | Retail Banking [Member] | Texas [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 772 | 844 |
Percent of total consumer banking | 1.10% | 1.10% |
Loans [Member] | Retail Banking [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 37 | 47 |
Percent of total consumer banking | 0.10% | 0.10% |
Loans [Member] | Retail Banking [Member] | Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 1,234 | 1,447 |
Percent of total consumer banking | 1.70% | 1.90% |
Loans [Member] | Retail Banking [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 184 | 182 |
Percent of total consumer banking | 0.30% | 0.20% |
Loans [Member] | Retail Banking [Member] | New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 859 | 864 |
Percent of total consumer banking | 1.20% | 1.20% |
Loans [Member] | Retail Banking [Member] | Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 125 | 96 |
Percent of total consumer banking | 0.10% | 0.10% |
Loans [Member] | Retail Banking [Member] | New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 280 | 312 |
Percent of total consumer banking | 0.40% | 0.40% |
Loans [Member] | Retail Banking [Member] | Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 96 | 78 |
Percent of total consumer banking | 0.10% | 0.10% |
Acquired Loans [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 5 | 17 |
Total home loan | 28,184 | 36,403 |
Total retail banking | 36 | 34 |
Total consumer banking | 28,225 | 36,454 |
Percent of total consumer banking | 39.90% | 48.60% |
Acquired Loans [Member] | Auto [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 5 | 17 |
Percent of total consumer banking | 0.00% | 0.10% |
Acquired Loans [Member] | Auto [Member] | Texas [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | Georgia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | Ohio [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Auto [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total auto | 5 | 17 |
Percent of total consumer banking | 0.00% | 0.10% |
Acquired Loans [Member] | Home Loan [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 28,184 | 36,403 |
Percent of total consumer banking | 39.80% | 48.40% |
Acquired Loans [Member] | Home Loan [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 7,153 | 9,098 |
Percent of total consumer banking | 10.10% | 12.10% |
Acquired Loans [Member] | Home Loan [Member] | Florida [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,477 | 1,863 |
Percent of total consumer banking | 2.10% | 2.50% |
Acquired Loans [Member] | Home Loan [Member] | Illinois [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 2,183 | 2,875 |
Percent of total consumer banking | 3.10% | 3.80% |
Acquired Loans [Member] | Home Loan [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 11,835 | 15,626 |
Percent of total consumer banking | 16.70% | 20.80% |
Acquired Loans [Member] | Home Loan [Member] | New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,265 | 1,598 |
Percent of total consumer banking | 1.80% | 2.10% |
Acquired Loans [Member] | Home Loan [Member] | Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,495 | 1,878 |
Percent of total consumer banking | 2.10% | 2.50% |
Acquired Loans [Member] | Home Loan [Member] | New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,409 | 1,717 |
Percent of total consumer banking | 2.00% | 2.30% |
Acquired Loans [Member] | Home Loan [Member] | Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total home loan | 1,367 | 1,748 |
Percent of total consumer banking | 1.90% | 2.30% |
Acquired Loans [Member] | Retail Banking [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 36 | 34 |
Percent of total consumer banking | 0.10% | 0.10% |
Acquired Loans [Member] | Retail Banking [Member] | Texas [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Retail Banking [Member] | California [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Retail Banking [Member] | Louisiana [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Retail Banking [Member] | Other [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 7 | 5 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Retail Banking [Member] | New York [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Retail Banking [Member] | Maryland [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 17 | 20 |
Percent of total consumer banking | 0.10% | 0.10% |
Acquired Loans [Member] | Retail Banking [Member] | New Jersey [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | 0 | 0 |
Percent of total consumer banking | 0.00% | 0.00% |
Acquired Loans [Member] | Retail Banking [Member] | Virginia [Member] | ' | ' |
Consumer Risk Profile By Geographic Region Delinquency Status And Performing Status [Line Items] | ' | ' |
Total retail banking | $12 | $9 |
Percent of total consumer banking | 0.00% | 0.00% |
Loans_Consumer_Banking_Net_Cha
Loans - Consumer Banking: Net Charge-Offs (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consumer Banking Net Charge Offs By Portfolio Type [Line Items] | ' | ' |
Amount, Net charge-offs | $616 | $531 |
Percentage, Net charge-offs | 0.85% | 0.74% |
Auto [Member] | ' | ' |
Consumer Banking Net Charge Offs By Portfolio Type [Line Items] | ' | ' |
Amount, Net charge-offs | 546 | 414 |
Percentage, Net charge-offs | 1.85% | 1.66% |
Home Loan [Member] | ' | ' |
Consumer Banking Net Charge Offs By Portfolio Type [Line Items] | ' | ' |
Amount, Net charge-offs | 16 | 52 |
Percentage, Net charge-offs | 0.04% | 0.12% |
Retail Banking [Member] | ' | ' |
Consumer Banking Net Charge Offs By Portfolio Type [Line Items] | ' | ' |
Amount, Net charge-offs | $54 | $65 |
Percentage, Net charge-offs | 1.46% | 1.57% |
Loans_Home_Loan_Risk_Profile_b
Loans - Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | $35,282 | $44,100 |
% of Total Home Loans | 100.00% | 100.00% |
Fixed Rate [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 5,912 | 6,571 |
% of Total Home Loans | 16.70% | 14.90% |
Adjustable Rate [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 29,370 | 37,529 |
% of Total Home Loans | 83.30% | 85.10% |
Origination Year 2006 or Before [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 9,879 | 11,827 |
% of Total Home Loans | 28.00% | 26.80% |
Origination Year 2007 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 5,639 | 6,635 |
% of Total Home Loans | 15.90% | 15.00% |
Origination Year 2008 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,296 | 5,467 |
% of Total Home Loans | 12.20% | 12.40% |
Origination Year 2009 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,660 | 3,605 |
% of Total Home Loans | 7.60% | 8.20% |
Origination Year 2010 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,393 | 6,212 |
% of Total Home Loans | 12.50% | 14.10% |
Origination Year 2011 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,914 | 7,029 |
% of Total Home Loans | 13.90% | 15.90% |
Origination Year 2012 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,723 | 3,325 |
% of Total Home Loans | 7.70% | 7.60% |
Origination Year 2013 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 778 | ' |
% of Total Home Loans | 2.20% | ' |
1st Lien [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 33,788 | 42,407 |
% of Total Home Loans | 95.80% | 96.20% |
2nd Lien [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,494 | 1,693 |
% of Total Home Loans | 4.20% | 3.80% |
California [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 8,163 | 10,266 |
% of Total Home Loans | 23.20% | 23.30% |
New York [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,767 | 3,276 |
% of Total Home Loans | 7.80% | 7.40% |
Illinois [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,271 | 2,977 |
% of Total Home Loans | 6.40% | 6.70% |
Maryland [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,913 | 2,281 |
% of Total Home Loans | 5.40% | 5.20% |
New Jersey [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,771 | 2,119 |
% of Total Home Loans | 5.00% | 4.80% |
Virginia [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,718 | 2,090 |
% of Total Home Loans | 4.90% | 4.80% |
Florida [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,654 | 2,046 |
% of Total Home Loans | 4.70% | 4.60% |
Arizona [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,530 | 1,923 |
% of Total Home Loans | 4.40% | 4.30% |
Washington [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,402 | 1,879 |
% of Total Home Loans | 4.00% | 4.30% |
Colorado [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | ' | 1,720 |
% of Total Home Loans | ' | 3.90% |
Other [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 10,764 | 13,523 |
% of Total Home Loans | 30.50% | 30.70% |
Louisiana [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,329 | ' |
% of Total Home Loans | 3.70% | ' |
Non-PCI Loans [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 7,098 | 7,697 |
% of Total Home Loans | 20.10% | 17.50% |
Non-PCI Loans [Member] | Fixed Rate [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,478 | 2,534 |
% of Total Home Loans | 7.00% | 5.80% |
Non-PCI Loans [Member] | Adjustable Rate [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,620 | 5,163 |
% of Total Home Loans | 13.10% | 11.70% |
Non-PCI Loans [Member] | Origination Year 2006 or Before [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 3,389 | 4,104 |
% of Total Home Loans | 9.60% | 9.30% |
Non-PCI Loans [Member] | Origination Year 2007 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 363 | 446 |
% of Total Home Loans | 1.00% | 1.00% |
Non-PCI Loans [Member] | Origination Year 2008 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 212 | 257 |
% of Total Home Loans | 0.60% | 0.60% |
Non-PCI Loans [Member] | Origination Year 2009 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 129 | 167 |
% of Total Home Loans | 0.40% | 0.40% |
Non-PCI Loans [Member] | Origination Year 2010 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 142 | 188 |
% of Total Home Loans | 0.40% | 0.40% |
Non-PCI Loans [Member] | Origination Year 2011 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 259 | 324 |
% of Total Home Loans | 0.70% | 0.70% |
Non-PCI Loans [Member] | Origination Year 2012 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,918 | 2,211 |
% of Total Home Loans | 5.40% | 5.10% |
Non-PCI Loans [Member] | Origination Year 2013 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 686 | ' |
% of Total Home Loans | 2.00% | ' |
Non-PCI Loans [Member] | 1st Lien [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 6,020 | 6,502 |
% of Total Home Loans | 17.10% | 14.80% |
Non-PCI Loans [Member] | 2nd Lien [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,078 | 1,195 |
% of Total Home Loans | 3.00% | 2.70% |
Non-PCI Loans [Member] | California [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,010 | 1,168 |
% of Total Home Loans | 2.90% | 2.70% |
Non-PCI Loans [Member] | New York [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,502 | 1,678 |
% of Total Home Loans | 4.20% | 3.80% |
Non-PCI Loans [Member] | Illinois [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 88 | 102 |
% of Total Home Loans | 0.20% | 0.20% |
Non-PCI Loans [Member] | Maryland [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 418 | 403 |
% of Total Home Loans | 1.20% | 0.90% |
Non-PCI Loans [Member] | New Jersey [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 362 | 402 |
% of Total Home Loans | 1.00% | 0.90% |
Non-PCI Loans [Member] | Virginia [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 351 | 342 |
% of Total Home Loans | 1.00% | 0.80% |
Non-PCI Loans [Member] | Florida [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 177 | 183 |
% of Total Home Loans | 0.50% | 0.40% |
Non-PCI Loans [Member] | Arizona [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 91 | 95 |
% of Total Home Loans | 0.30% | 0.20% |
Non-PCI Loans [Member] | Washington [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 100 | 113 |
% of Total Home Loans | 0.30% | 0.30% |
Non-PCI Loans [Member] | Colorado [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | ' | 126 |
% of Total Home Loans | ' | 0.30% |
Non-PCI Loans [Member] | Other [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,717 | 3,085 |
% of Total Home Loans | 4.90% | 7.00% |
Non-PCI Loans [Member] | Louisiana [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,282 | ' |
% of Total Home Loans | 3.60% | ' |
PCI Loans [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 28,184 | 36,403 |
% of Total Home Loans | 79.90% | 82.50% |
PCI Loans [Member] | Fixed Rate [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 3,434 | 4,037 |
% of Total Home Loans | 9.70% | 9.10% |
PCI Loans [Member] | Adjustable Rate [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 24,750 | 32,366 |
% of Total Home Loans | 70.20% | 73.40% |
PCI Loans [Member] | Origination Year 2006 or Before [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 6,490 | 7,723 |
% of Total Home Loans | 18.40% | 17.50% |
PCI Loans [Member] | Origination Year 2007 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 5,276 | 6,189 |
% of Total Home Loans | 14.90% | 14.00% |
PCI Loans [Member] | Origination Year 2008 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,084 | 5,210 |
% of Total Home Loans | 11.60% | 11.80% |
PCI Loans [Member] | Origination Year 2009 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,531 | 3,438 |
% of Total Home Loans | 7.20% | 7.80% |
PCI Loans [Member] | Origination Year 2010 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,251 | 6,024 |
% of Total Home Loans | 12.10% | 13.70% |
PCI Loans [Member] | Origination Year 2011 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 4,655 | 6,705 |
% of Total Home Loans | 13.20% | 15.20% |
PCI Loans [Member] | Origination Year 2012 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 805 | 1,114 |
% of Total Home Loans | 2.30% | 2.50% |
PCI Loans [Member] | Origination Year 2013 [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 92 | ' |
% of Total Home Loans | 0.20% | ' |
PCI Loans [Member] | 1st Lien [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 27,768 | 35,905 |
% of Total Home Loans | 78.70% | 81.40% |
PCI Loans [Member] | 2nd Lien [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 416 | 498 |
% of Total Home Loans | 1.20% | 1.10% |
PCI Loans [Member] | California [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 7,153 | 9,098 |
% of Total Home Loans | 20.30% | 20.60% |
PCI Loans [Member] | New York [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,265 | 1,598 |
% of Total Home Loans | 3.60% | 3.60% |
PCI Loans [Member] | Illinois [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 2,183 | 2,875 |
% of Total Home Loans | 6.20% | 6.50% |
PCI Loans [Member] | Maryland [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,495 | 1,878 |
% of Total Home Loans | 4.20% | 4.30% |
PCI Loans [Member] | New Jersey [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,409 | 1,717 |
% of Total Home Loans | 4.00% | 3.90% |
PCI Loans [Member] | Virginia [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,367 | 1,748 |
% of Total Home Loans | 3.90% | 4.00% |
PCI Loans [Member] | Florida [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,477 | 1,863 |
% of Total Home Loans | 4.20% | 4.20% |
PCI Loans [Member] | Arizona [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,439 | 1,828 |
% of Total Home Loans | 4.10% | 4.10% |
PCI Loans [Member] | Washington [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 1,302 | 1,766 |
% of Total Home Loans | 3.70% | 4.00% |
PCI Loans [Member] | Colorado [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | ' | 1,594 |
% of Total Home Loans | ' | 3.60% |
PCI Loans [Member] | Other [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | 9,047 | 10,438 |
% of Total Home Loans | 25.60% | 23.70% |
PCI Loans [Member] | Louisiana [Member] | ' | ' |
Home Loans Risk Profile [Line Items] | ' | ' |
Mortgage loans | $47 | ' |
% of Total Home Loans | 0.10% | ' |
Loans_Home_Loan_Risk_Profile_b1
Loans - Home Loan: Risk Profile by Vintage, Geography, Lien Priority and Interest Rate Type (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
State | State | |
Receivables [Abstract] | ' | ' |
Number of states having highest concentration of home loans | 10 | 10 |
Loans_Commercial_Banking_Risk_
Loans - Commercial Banking: Risk Profile by Geographic Region and Internal Risk Rating (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | $20,750 | $17,732 |
Percent of Total Commercial and Multifamily Real Estate | 100.00% | 100.00% |
Commercial and industrial | 23,309 | 19,892 |
Percentage of Total Commercial and Industrial | 100.00% | 100.00% |
Small-ticket commercial real estate | 952 | 1,196 |
Percent of Total Small-ticket Commercial Real Estate | 100.00% | 100.00% |
Total commercial banking | 45,011 | 38,820 |
Percent of Total Commercial | 100.00% | 100.00% |
Loans [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 20,666 | 17,605 |
Percent of Total Commercial and Multifamily Real Estate | 99.60% | 99.30% |
Commercial and industrial | 23,131 | 19,660 |
Percentage of Total Commercial and Industrial | 99.20% | 98.80% |
Small-ticket commercial real estate | 952 | 1,196 |
Percent of Total Small-ticket Commercial Real Estate | 100.00% | 100.00% |
Total commercial banking | 44,749 | 38,461 |
Percent of Total Commercial | 99.40% | 99.10% |
Loans [Member] | Noncriticized [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 20,204 | 16,614 |
Percent of Total Commercial and Multifamily Real Estate | 97.40% | 93.70% |
Commercial and industrial | 22,448 | 19,073 |
Percentage of Total Commercial and Industrial | 96.30% | 95.90% |
Small-ticket commercial real estate | 941 | 1,152 |
Percent of Total Small-ticket Commercial Real Estate | 98.90% | 96.30% |
Total commercial banking | 43,593 | 36,839 |
Percent of Total Commercial | 96.90% | 94.90% |
Loans [Member] | Criticized Performing [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 409 | 853 |
Percent of Total Commercial and Multifamily Real Estate | 2.00% | 4.80% |
Commercial and industrial | 590 | 454 |
Percentage of Total Commercial and Industrial | 2.50% | 2.30% |
Small-ticket commercial real estate | 8 | 33 |
Percent of Total Small-ticket Commercial Real Estate | 0.80% | 2.80% |
Total commercial banking | 1,007 | 1,340 |
Percent of Total Commercial | 2.20% | 3.50% |
Loans [Member] | Criticized Nonperforming [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 53 | 138 |
Percent of Total Commercial and Multifamily Real Estate | 0.20% | 0.80% |
Commercial and industrial | 93 | 133 |
Percentage of Total Commercial and Industrial | 0.40% | 0.60% |
Small-ticket commercial real estate | 3 | 11 |
Percent of Total Small-ticket Commercial Real Estate | 0.30% | 0.90% |
Total commercial banking | 149 | 282 |
Percent of Total Commercial | 0.30% | 0.70% |
Loans [Member] | Northeast [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 14,543 | 13,299 |
Percent of Total Commercial and Multifamily Real Estate | 70.10% | 75.00% |
Commercial and industrial | 5,800 | 5,460 |
Percentage of Total Commercial and Industrial | 24.90% | 27.40% |
Small-ticket commercial real estate | 582 | 723 |
Percent of Total Small-ticket Commercial Real Estate | 61.30% | 60.50% |
Total commercial banking | 20,925 | 19,482 |
Percent of Total Commercial | 46.40% | 50.20% |
Loans [Member] | Mid-Atlantic [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 2,130 | 1,398 |
Percent of Total Commercial and Multifamily Real Estate | 10.30% | 7.90% |
Commercial and industrial | 1,432 | 1,149 |
Percentage of Total Commercial and Industrial | 6.10% | 5.80% |
Small-ticket commercial real estate | 33 | 47 |
Percent of Total Small-ticket Commercial Real Estate | 3.40% | 3.90% |
Total commercial banking | 3,595 | 2,594 |
Percent of Total Commercial | 8.00% | 6.70% |
Loans [Member] | South [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 2,539 | 2,055 |
Percent of Total Commercial and Multifamily Real Estate | 12.20% | 11.60% |
Commercial and industrial | 10,940 | 9,182 |
Percentage of Total Commercial and Industrial | 46.90% | 46.20% |
Small-ticket commercial real estate | 58 | 72 |
Percent of Total Small-ticket Commercial Real Estate | 6.00% | 6.00% |
Total commercial banking | 13,537 | 11,309 |
Percent of Total Commercial | 30.10% | 29.10% |
Loans [Member] | Other [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 1,454 | 853 |
Percent of Total Commercial and Multifamily Real Estate | 7.00% | 4.80% |
Commercial and industrial | 4,959 | 3,869 |
Percentage of Total Commercial and Industrial | 21.30% | 19.40% |
Small-ticket commercial real estate | 279 | 354 |
Percent of Total Small-ticket Commercial Real Estate | 29.30% | 29.60% |
Total commercial banking | 6,692 | 5,076 |
Percent of Total Commercial | 14.90% | 13.10% |
Acquired Loans [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 84 | 127 |
Percent of Total Commercial and Multifamily Real Estate | 0.40% | 0.70% |
Commercial and industrial | 178 | 232 |
Percentage of Total Commercial and Industrial | 0.80% | 1.20% |
Small-ticket commercial real estate | 0 | 0 |
Percent of Total Small-ticket Commercial Real Estate | 0.00% | 0.00% |
Total commercial banking | 262 | 359 |
Percent of Total Commercial | 0.60% | 0.90% |
Acquired Loans [Member] | Noncriticized [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 72 | 77 |
Percent of Total Commercial and Multifamily Real Estate | 0.30% | 0.40% |
Commercial and industrial | 158 | 228 |
Percentage of Total Commercial and Industrial | 0.70% | 1.20% |
Small-ticket commercial real estate | 0 | 0 |
Percent of Total Small-ticket Commercial Real Estate | 0.00% | 0.00% |
Total commercial banking | 230 | 305 |
Percent of Total Commercial | 0.50% | 0.80% |
Acquired Loans [Member] | Criticized Performing [Member] | ' | ' |
Commercial Banking Risk Profile [Line Items] | ' | ' |
Commercial and multifamily real estate | 12 | 50 |
Percent of Total Commercial and Multifamily Real Estate | 0.10% | 0.30% |
Commercial and industrial | 20 | 4 |
Percentage of Total Commercial and Industrial | 0.10% | 0.00% |
Small-ticket commercial real estate | 0 | 0 |
Percent of Total Small-ticket Commercial Real Estate | 0.00% | 0.00% |
Total commercial banking | $32 | $54 |
Percent of Total Commercial | 0.10% | 0.10% |
Loans_Individually_Impaired_Lo
Loans - Individually Impaired Loans, Excluding Acquired Loans (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | $1,944 | $1,980 |
Related Allowance | 330 | 426 |
Net Recorded Investment | 1,614 | 1,554 |
Unpaid Principal Balance | 2,402 | 2,346 |
Average Recorded Investment | 2,114 | 1,820 |
Interest Income Recognized | 149 | 133 |
With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 1,424 | 1,571 |
Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 520 | 409 |
Domestic Credit Card [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 609 | 701 |
Related Allowance | 154 | 230 |
Net Recorded Investment | 455 | 471 |
Unpaid Principal Balance | 593 | 678 |
Average Recorded Investment | 647 | 687 |
Interest Income Recognized | 66 | 70 |
Domestic Credit Card [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 609 | 701 |
Domestic Credit Card [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 0 | 0 |
International Credit Card [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 171 | 172 |
Related Allowance | 107 | 101 |
Net Recorded Investment | 64 | 71 |
Unpaid Principal Balance | 164 | 164 |
Average Recorded Investment | 170 | 192 |
Interest Income Recognized | 11 | 11 |
International Credit Card [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 171 | 172 |
International Credit Card [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 0 | 0 |
Credit Card and Installment Loans [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 780 | 873 |
Related Allowance | 261 | 331 |
Net Recorded Investment | 519 | 542 |
Unpaid Principal Balance | 757 | 842 |
Average Recorded Investment | 817 | 879 |
Interest Income Recognized | 77 | 81 |
Credit Card and Installment Loans [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 780 | 873 |
Credit Card and Installment Loans [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 0 | 0 |
Consumer Banking [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 835 | 569 |
Related Allowance | 44 | 40 |
Net Recorded Investment | 791 | 529 |
Unpaid Principal Balance | 1,256 | 891 |
Average Recorded Investment | 845 | 338 |
Interest Income Recognized | 70 | 38 |
Consumer Banking [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 459 | 375 |
Consumer Banking [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 376 | 194 |
Consumer Banking [Member] | Auto [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 355 | 328 |
Related Allowance | 16 | 20 |
Net Recorded Investment | 340 | 308 |
Unpaid Principal Balance | 590 | 606 |
Average Recorded Investment | 335 | 130 |
Interest Income Recognized | 62 | 31 |
Consumer Banking [Member] | Auto [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 169 | 169 |
Consumer Banking [Member] | Auto [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 186 | 159 |
Consumer Banking [Member] | Home Loan [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 394 | 145 |
Related Allowance | 18 | 13 |
Net Recorded Investment | 375 | 132 |
Unpaid Principal Balance | 561 | 167 |
Average Recorded Investment | 418 | 120 |
Interest Income Recognized | 7 | 4 |
Consumer Banking [Member] | Home Loan [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 244 | 145 |
Consumer Banking [Member] | Home Loan [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 150 | 0 |
Consumer Banking [Member] | Retail Banking [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 86 | 96 |
Related Allowance | 10 | 7 |
Net Recorded Investment | 76 | 89 |
Unpaid Principal Balance | 105 | 118 |
Average Recorded Investment | 92 | 88 |
Interest Income Recognized | 1 | 3 |
Consumer Banking [Member] | Retail Banking [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 46 | 61 |
Consumer Banking [Member] | Retail Banking [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 40 | 35 |
Commercial Banking [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 329 | 538 |
Related Allowance | 25 | 55 |
Net Recorded Investment | 304 | 483 |
Unpaid Principal Balance | 389 | 613 |
Average Recorded Investment | 452 | 603 |
Interest Income Recognized | 2 | 14 |
Commercial Banking [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 185 | 323 |
Commercial Banking [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 144 | 215 |
Commercial Banking [Member] | Commercial and Multifamily Real Estate [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 138 | 280 |
Related Allowance | 13 | 32 |
Net Recorded Investment | 125 | 248 |
Unpaid Principal Balance | 162 | 315 |
Average Recorded Investment | 217 | 353 |
Interest Income Recognized | 1 | 8 |
Commercial Banking [Member] | Commercial and Multifamily Real Estate [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 89 | 168 |
Commercial Banking [Member] | Commercial and Multifamily Real Estate [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 49 | 112 |
Commercial Banking [Member] | Commercial and Industrial [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 185 | 244 |
Related Allowance | 12 | 22 |
Net Recorded Investment | 173 | 222 |
Unpaid Principal Balance | 220 | 277 |
Average Recorded Investment | 219 | 227 |
Interest Income Recognized | 1 | 6 |
Commercial Banking [Member] | Commercial and Industrial [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 94 | 152 |
Commercial Banking [Member] | Commercial and Industrial [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 91 | 92 |
Commercial Banking [Member] | Total Commercial Lending [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 323 | 524 |
Related Allowance | 25 | 54 |
Net Recorded Investment | 298 | 470 |
Unpaid Principal Balance | 382 | 592 |
Average Recorded Investment | 436 | 580 |
Interest Income Recognized | 2 | 14 |
Commercial Banking [Member] | Total Commercial Lending [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 183 | 320 |
Commercial Banking [Member] | Total Commercial Lending [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 140 | 204 |
Commercial Banking [Member] | Small-Ticket Commercial Real Estate [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 6 | 14 |
Related Allowance | 0 | 1 |
Net Recorded Investment | 6 | 13 |
Unpaid Principal Balance | 7 | 21 |
Average Recorded Investment | 16 | 23 |
Interest Income Recognized | 0 | 0 |
Commercial Banking [Member] | Small-Ticket Commercial Real Estate [Member] | With an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | 2 | 3 |
Commercial Banking [Member] | Small-Ticket Commercial Real Estate [Member] | Without an Allowance [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Total Recorded Investment | $4 | $11 |
Loans_TDR_Disclosures_in_Progr
Loans - TDR Disclosures in Progress Financial Impact of Modification (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | $1,008 | $1,192 |
Reduced Interest Rate, Percentage of TDR Activity | 61.00% | 69.00% |
Reduced Interest Rate, Average Rate Reduction | 13.73% | 12.56% |
Term Extension, Percentage of TDR Activity | 26.00% | 40.00% |
Term Extension, Average Term Extension (Months) | '18 months | '22 months |
Balance Reduction, Percentage of TDR Activity | 14.00% | 16.00% |
Balance Reduction, Gross Balance Reduction | 113 | 229 |
Domestic Credit Card [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 311 | 353 |
Reduced Interest Rate, Percentage of TDR Activity | 100.00% | 100.00% |
Reduced Interest Rate, Average Rate Reduction | 11.62% | 11.45% |
Term Extension, Percentage of TDR Activity | 0.00% | 0.00% |
Term Extension, Average Term Extension (Months) | '0 months | '0 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
International Credit Card [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 187 | 218 |
Reduced Interest Rate, Percentage of TDR Activity | 100.00% | 100.00% |
Reduced Interest Rate, Average Rate Reduction | 24.95% | 23.71% |
Term Extension, Percentage of TDR Activity | 0.00% | 0.00% |
Term Extension, Average Term Extension (Months) | '0 months | '0 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Credit Card and Installment Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 498 | 571 |
Reduced Interest Rate, Percentage of TDR Activity | 100.00% | 100.00% |
Reduced Interest Rate, Average Rate Reduction | 16.64% | 15.64% |
Term Extension, Percentage of TDR Activity | 0.00% | 0.00% |
Term Extension, Average Term Extension (Months) | '0 months | '0 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Consumer Banking [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 402 | 428 |
Reduced Interest Rate, Percentage of TDR Activity | 27.00% | 50.00% |
Reduced Interest Rate, Average Rate Reduction | 1.72% | 5.90% |
Term Extension, Percentage of TDR Activity | 46.00% | 72.00% |
Term Extension, Average Term Extension (Months) | '21 months | '26 months |
Balance Reduction, Percentage of TDR Activity | 36.00% | 46.00% |
Balance Reduction, Gross Balance Reduction | 113 | 229 |
Consumer Banking [Member] | Auto [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 274 | 338 |
Reduced Interest Rate, Percentage of TDR Activity | 31.00% | 51.00% |
Reduced Interest Rate, Average Rate Reduction | 1.37% | 6.71% |
Term Extension, Percentage of TDR Activity | 55.00% | 69.00% |
Term Extension, Average Term Extension (Months) | '9 months | '8 months |
Balance Reduction, Percentage of TDR Activity | 45.00% | 50.00% |
Balance Reduction, Gross Balance Reduction | 109 | 219 |
Consumer Banking [Member] | Home Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 98 | 62 |
Reduced Interest Rate, Percentage of TDR Activity | 22.00% | 65.00% |
Reduced Interest Rate, Average Rate Reduction | 2.89% | 2.50% |
Term Extension, Percentage of TDR Activity | 20.00% | 75.00% |
Term Extension, Average Term Extension (Months) | '127 months | '128 months |
Balance Reduction, Percentage of TDR Activity | 21.00% | 45.00% |
Balance Reduction, Gross Balance Reduction | 4 | 10 |
Consumer Banking [Member] | Retail Banking [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 30 | 28 |
Reduced Interest Rate, Percentage of TDR Activity | 6.00% | 3.00% |
Reduced Interest Rate, Average Rate Reduction | 3.68% | 2.67% |
Term Extension, Percentage of TDR Activity | 58.00% | 96.00% |
Term Extension, Average Term Extension (Months) | '7 months | '9 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Commercial Banking [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 108 | 193 |
Reduced Interest Rate, Percentage of TDR Activity | 11.00% | 17.00% |
Reduced Interest Rate, Average Rate Reduction | 1.74% | 2.67% |
Term Extension, Percentage of TDR Activity | 72.00% | 88.00% |
Term Extension, Average Term Extension (Months) | '11 months | '14 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Commercial Banking [Member] | Commercial and Multifamily Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 53 | 62 |
Reduced Interest Rate, Percentage of TDR Activity | 23.00% | 38.00% |
Reduced Interest Rate, Average Rate Reduction | 1.74% | 2.18% |
Term Extension, Percentage of TDR Activity | 77.00% | 90.00% |
Term Extension, Average Term Extension (Months) | '16 months | '16 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Commercial Banking [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 47 | 131 |
Reduced Interest Rate, Percentage of TDR Activity | 0.00% | 7.00% |
Reduced Interest Rate, Average Rate Reduction | 0.00% | 3.90% |
Term Extension, Percentage of TDR Activity | 79.00% | 87.00% |
Term Extension, Average Term Extension (Months) | '6 months | '13 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Commercial Banking [Member] | Total Commercial Lending [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 100 | 193 |
Reduced Interest Rate, Percentage of TDR Activity | 12.00% | 17.00% |
Reduced Interest Rate, Average Rate Reduction | 1.74% | 2.67% |
Term Extension, Percentage of TDR Activity | 78.00% | 88.00% |
Term Extension, Average Term Extension (Months) | '11 months | '14 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | 0 | 0 |
Commercial Banking [Member] | Small-Ticket Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total Loans Modified | 8 | 0 |
Reduced Interest Rate, Percentage of TDR Activity | 0.00% | 0.00% |
Reduced Interest Rate, Average Rate Reduction | 0.00% | 0.00% |
Term Extension, Percentage of TDR Activity | 0.00% | 0.00% |
Term Extension, Average Term Extension (Months) | '0 months | '0 months |
Balance Reduction, Percentage of TDR Activity | 0.00% | 0.00% |
Balance Reduction, Gross Balance Reduction | $0 | $0 |
Loans_TDR_Disclosures_in_Progr1
Loans - TDR Disclosures in Progress Financial Impact of Modification (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Receivables [Abstract] | ' | ' |
Percentage of troubled borrowers | 100.00% | 100.00% |
Loans_TDR_Subsequent_Payment_D
Loans - TDR - Subsequent Payment Defaults of Completed TDR Modifications (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 99,273 | 96,370 |
Total Loans | $333 | $336 |
Domestic Credit Card [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 41,859 | 43,103 |
Total Loans | 72 | 85 |
International Credit Card [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 47,688 | 48,663 |
Total Loans | 138 | 164 |
Credit Card and Installment Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 89,547 | 91,766 |
Total Loans | 210 | 249 |
Consumer Banking [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 9,684 | 4,570 |
Total Loans | 78 | 57 |
Consumer Banking [Member] | Auto [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 9,525 | 4,364 |
Total Loans | 68 | 39 |
Consumer Banking [Member] | Home Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 33 | 99 |
Total Loans | 3 | 7 |
Consumer Banking [Member] | Retail Banking [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 126 | 107 |
Total Loans | 7 | 11 |
Commercial Banking [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 42 | 34 |
Total Loans | 45 | 30 |
Commercial Banking [Member] | Commercial and Multifamily Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 14 | 8 |
Total Loans | 23 | 10 |
Commercial Banking [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 24 | 23 |
Total Loans | 22 | 18 |
Commercial Banking [Member] | Total Commercial Lending [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 38 | 31 |
Total Loans | 45 | 28 |
Commercial Banking [Member] | Small-Ticket Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 4 | 3 |
Total Loans | $0 | $2 |
Loans_Outstanding_Balance_and_
Loans - Outstanding Balance and Carrying Value of Acquired Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Impaired Loans By Type [Line Items] | ' | ' |
Contractual balance | $30,565 | $39,321 |
Carrying value | 28,580 | 37,109 |
Purchased Credit-Impaired Loans [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Contractual balance | 5,016 | 6,195 |
Carrying value | 3,285 | 4,069 |
Non-Impaired Loans [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Contractual balance | 25,549 | 33,126 |
Carrying value | $25,295 | $33,040 |
Loans_Outstanding_Balance_and_1
Loans - Outstanding Balance and Carrying Value of Acquired Loans (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Cumulative impairment recognized | $38 | $57 |
Loans_Changes_in_Accretable_Yi
Loans - Changes in Accretable Yield on Acquired Loans (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loans [Line Items] | ' | ' |
Accretable yield, beginning balance | $6,208 | $1,752 |
Acquired Loans accretable yield | ' | 5,616 |
Accretion recognized in earnings | -1,182 | -1,316 |
Reclassifications from nonaccretable difference for loans with improving cash flows | 1,005 | 860 |
Increases/(Reductions) in accretable yield for non-credit related changes in expected cash flows | 389 | -704 |
Accretable yield, ending balance | 6,420 | 6,208 |
Purchased Credit-Impaired Loans [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Accretable yield, beginning balance | 1,899 | 1,566 |
Acquired Loans accretable yield | ' | 306 |
Accretion recognized in earnings | -427 | -390 |
Reclassifications from nonaccretable difference for loans with improving cash flows | 629 | 448 |
Increases/(Reductions) in accretable yield for non-credit related changes in expected cash flows | 13 | -31 |
Accretable yield, ending balance | 2,114 | 1,899 |
Non-Impaired Loans [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Accretable yield, beginning balance | 4,309 | 186 |
Acquired Loans accretable yield | ' | 5,310 |
Accretion recognized in earnings | -755 | -926 |
Reclassifications from nonaccretable difference for loans with improving cash flows | 376 | 412 |
Increases/(Reductions) in accretable yield for non-credit related changes in expected cash flows | 376 | -673 |
Accretable yield, ending balance | $4,306 | $4,309 |
Loans_Changes_in_Accretable_Yi1
Loans - Changes in Accretable Yield on Acquired Loans (Parenthetical) (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2012 |
Purchased Credit-Impaired Loans [Member] | ' |
Loans [Line Items] | ' |
Reductions of loans | $28 |
Non-Impaired Loans [Member] | ' |
Loans [Line Items] | ' |
Reductions of loans | $44 |
Allowance_for_Loan_and_Lease_L2
Allowance for Loan and Lease Losses - Summary of Changes in Allowance for Loan and Lease Losses (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | $5,156 | ' | ' |
Provision for credit losses | 3,453 | 4,415 | 2,360 |
Balance at end of period | 4,315 | 5,156 | ' |
Credit Card [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 3,979 | 2,847 | ' |
Provision for credit losses | 2,824 | 4,061 | ' |
Charge-offs | -4,542 | -4,159 | ' |
Recoveries | 1,257 | 1,215 | ' |
Net charge-offs | -3,285 | -2,944 | ' |
Other changes | -304 | 15 | ' |
Balance at end of period | 3,214 | 3,979 | ' |
Auto [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 486 | 391 | ' |
Provision for credit losses | 665 | 509 | ' |
Charge-offs | -784 | -631 | ' |
Recoveries | 238 | 217 | ' |
Net charge-offs | -546 | -414 | ' |
Other changes | 1 | 0 | ' |
Balance at end of period | 606 | 486 | ' |
Home Loan [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 113 | 98 | ' |
Provision for credit losses | -14 | 67 | ' |
Charge-offs | -26 | -77 | ' |
Recoveries | 10 | 25 | ' |
Net charge-offs | -16 | -52 | ' |
Other changes | 0 | 0 | ' |
Balance at end of period | 83 | 113 | ' |
Retail Banking [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 112 | 163 | ' |
Provision for credit losses | 5 | 14 | ' |
Charge-offs | -78 | -89 | ' |
Recoveries | 24 | 24 | ' |
Net charge-offs | -54 | -65 | ' |
Other changes | 0 | 0 | ' |
Balance at end of period | 63 | 112 | ' |
Total Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 711 | 652 | ' |
Provision for credit losses | 656 | 590 | ' |
Charge-offs | -888 | -797 | ' |
Recoveries | 272 | 266 | ' |
Net charge-offs | -616 | -531 | ' |
Other changes | 1 | 0 | ' |
Balance at end of period | 752 | 711 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 433 | 715 | ' |
Provision for credit losses | -76 | -240 | ' |
Charge-offs | -49 | -94 | ' |
Recoveries | 35 | 52 | ' |
Net charge-offs | -14 | -42 | ' |
Other changes | -5 | 0 | ' |
Balance at end of period | 338 | 433 | ' |
Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 33 | 36 | ' |
Provision for credit losses | -3 | 35 | ' |
Charge-offs | -26 | -43 | ' |
Recoveries | 7 | 5 | ' |
Net charge-offs | -19 | -38 | ' |
Other changes | 0 | 0 | ' |
Balance at end of period | 11 | 33 | ' |
Total Allowance [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 5,156 | 4,250 | ' |
Provision for credit losses | 3,401 | 4,446 | ' |
Charge-offs | -5,505 | -5,093 | ' |
Recoveries | 1,571 | 1,538 | ' |
Net charge-offs | -3,934 | -3,555 | ' |
Other changes | -308 | 15 | ' |
Balance at end of period | 4,315 | 5,156 | ' |
Unfunded Lending Commitments Reserve [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 35 | 66 | ' |
Provision for credit losses | 52 | -31 | ' |
Charge-offs | 0 | 0 | ' |
Recoveries | 0 | 0 | ' |
Net charge-offs | 0 | 0 | ' |
Other changes | 0 | 0 | ' |
Balance at end of period | 87 | 35 | ' |
Combined Allowance & Unfunded Reserve [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 5,191 | 4,316 | ' |
Provision for credit losses | 3,453 | 4,415 | ' |
Charge-offs | -5,505 | -5,093 | ' |
Recoveries | 1,571 | 1,538 | ' |
Net charge-offs | -3,934 | -3,555 | ' |
Other changes | -308 | 15 | ' |
Balance at end of period | $4,402 | $5,191 | ' |
Allowance_for_Loan_and_Lease_L3
Allowance for Loan and Lease Losses - Summary of Changes in Allowance for Loan and Lease Losses (Parenthetical) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' | ' |
Reduction in allowance attributable to Portfolio Sale | $289 | ' | ' |
Foreign translation and other adjustment | ' | $19 | $15 |
Allowance_for_Loan_and_Lease_L4
Allowance for Loan and Lease Losses - Components of Allowance for Loan and Lease Losses by Impairment Methodology (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | $3,947 | $4,673 | ' |
Asset-specific | 330 | 426 | ' |
Acquired loans | 38 | 57 | ' |
Total allowance for loan and lease losses | 4,315 | 5,156 | ' |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 166,891 | 166,775 | ' |
Asset-specific | 1,758 | 1,980 | ' |
Acquired loans | 28,550 | 37,134 | ' |
Total loans held for investment | 197,199 | 205,889 | 135,892 |
Allowance as a percentage of period-end held-for-investment loans | 2.19% | 2.50% | ' |
Credit Card [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 2,953 | 3,648 | ' |
Asset-specific | 261 | 331 | ' |
Acquired loans | 0 | 0 | ' |
Total allowance for loan and lease losses | 3,214 | 3,979 | 2,847 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 80,462 | 90,594 | ' |
Asset-specific | 780 | 873 | ' |
Acquired loans | 63 | 288 | ' |
Total loans held for investment | 81,305 | 91,755 | ' |
Allowance as a percentage of period-end held-for-investment loans | 3.95% | 4.34% | ' |
Auto [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 590 | 466 | ' |
Asset-specific | 16 | 20 | ' |
Acquired loans | 0 | 0 | ' |
Total allowance for loan and lease losses | 606 | 486 | 391 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 31,683 | 26,778 | ' |
Asset-specific | 169 | 328 | ' |
Acquired loans | 5 | 17 | ' |
Total loans held for investment | 31,857 | 27,123 | ' |
Allowance as a percentage of period-end held-for-investment loans | 1.90% | 1.79% | ' |
Home Loan [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 27 | 47 | ' |
Asset-specific | 18 | 13 | ' |
Acquired loans | 38 | 53 | ' |
Total allowance for loan and lease losses | 83 | 113 | 98 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 6,704 | 7,552 | ' |
Asset-specific | 394 | 145 | ' |
Acquired loans | 28,184 | 36,403 | ' |
Total loans held for investment | 35,282 | 44,100 | ' |
Allowance as a percentage of period-end held-for-investment loans | 0.24% | 0.26% | ' |
Retail Banking [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 53 | 104 | ' |
Asset-specific | 10 | 7 | ' |
Acquired loans | 0 | 1 | ' |
Total allowance for loan and lease losses | 63 | 112 | 163 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 3,501 | 3,774 | ' |
Asset-specific | 86 | 96 | ' |
Acquired loans | 36 | 34 | ' |
Total loans held for investment | 3,623 | 3,904 | ' |
Allowance as a percentage of period-end held-for-investment loans | 1.74% | 2.87% | ' |
Total Consumer [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 670 | 617 | ' |
Asset-specific | 44 | 40 | ' |
Acquired loans | 38 | 54 | ' |
Total allowance for loan and lease losses | 752 | 711 | 652 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 41,888 | 38,104 | ' |
Asset-specific | 649 | 569 | ' |
Acquired loans | 28,225 | 36,454 | ' |
Total loans held for investment | 70,762 | 75,127 | ' |
Allowance as a percentage of period-end held-for-investment loans | 1.06% | 0.95% | ' |
Commercial [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 313 | 376 | ' |
Asset-specific | 25 | 54 | ' |
Acquired loans | 0 | 3 | ' |
Total allowance for loan and lease losses | 338 | 433 | 715 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 44,420 | 37,923 | ' |
Asset-specific | 329 | 538 | ' |
Acquired loans | 262 | 359 | ' |
Total loans held for investment | 45,011 | 38,820 | ' |
Allowance as a percentage of period-end held-for-investment loans | 0.75% | 1.12% | ' |
Other [Member] | ' | ' | ' |
Allowance for loan and lease losses by impairment methodology: | ' | ' | ' |
Collectively evaluated | 11 | 32 | ' |
Asset-specific | 0 | 1 | ' |
Acquired loans | 0 | 0 | ' |
Total allowance for loan and lease losses | 11 | 33 | 36 |
Held-for-investment loans by impairment methodology: | ' | ' | ' |
Collectively evaluated | 121 | 154 | ' |
Asset-specific | 0 | 0 | ' |
Acquired loans | 0 | 33 | ' |
Total loans held for investment | $121 | $187 | ' |
Allowance as a percentage of period-end held-for-investment loans | 9.09% | 17.65% | ' |
Variable_Interest_Entities_and2
Variable Interest Entities and Securitizations - Carrying Amount of Assets and Liabilities of Variable Interest Entities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | $40,812 | $44,674 |
Carrying Amount of Liabilities, Consolidated | 12,770 | 13,633 |
Carrying Amount of Assets, Unconsolidated | 3,432 | 2,809 |
Carrying Amount of Liabilities, Unconsolidated | 476 | 521 |
Maximum Exposure to Loss, Unconsolidated | 3,935 | 3,309 |
Securitization-Related VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 40,422 | 44,298 |
Carrying Amount of Liabilities, Consolidated | 12,671 | 13,545 |
Carrying Amount of Assets, Unconsolidated | 199 | 212 |
Carrying Amount of Liabilities, Unconsolidated | 15 | 17 |
Maximum Exposure to Loss, Unconsolidated | 702 | 712 |
Securitization-Related VIEs [Member] | Credit Card Loan Securitizations [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 40,422 | 44,238 |
Carrying Amount of Liabilities, Consolidated | 12,671 | 13,488 |
Carrying Amount of Assets, Unconsolidated | 0 | 0 |
Carrying Amount of Liabilities, Unconsolidated | 0 | 0 |
Maximum Exposure to Loss, Unconsolidated | 0 | 0 |
Securitization-Related VIEs [Member] | Home Loan Securitizations [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 0 | 41 |
Carrying Amount of Liabilities, Consolidated | 0 | 38 |
Carrying Amount of Assets, Unconsolidated | 199 | 212 |
Carrying Amount of Liabilities, Unconsolidated | 15 | 17 |
Maximum Exposure to Loss, Unconsolidated | 702 | 712 |
Securitization-Related VIEs [Member] | Other Asset Securitizations [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | ' | 19 |
Carrying Amount of Liabilities, Consolidated | ' | 19 |
Carrying Amount of Assets, Unconsolidated | ' | 0 |
Carrying Amount of Liabilities, Unconsolidated | ' | 0 |
Maximum Exposure to Loss, Unconsolidated | ' | 0 |
Other VIEs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 390 | 376 |
Carrying Amount of Liabilities, Consolidated | 99 | 88 |
Carrying Amount of Assets, Unconsolidated | 3,233 | 2,597 |
Carrying Amount of Liabilities, Unconsolidated | 461 | 504 |
Maximum Exposure to Loss, Unconsolidated | 3,233 | 2,597 |
Other VIEs [Member] | Affordable Housing Entities [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 0 | 0 |
Carrying Amount of Liabilities, Consolidated | 0 | 0 |
Carrying Amount of Assets, Unconsolidated | 3,137 | 2,390 |
Carrying Amount of Liabilities, Unconsolidated | 461 | 414 |
Maximum Exposure to Loss, Unconsolidated | 3,137 | 2,390 |
Other VIEs [Member] | Entities that Provide Capital to Low-Income and Rural Communities [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 389 | 375 |
Carrying Amount of Liabilities, Consolidated | 98 | 88 |
Carrying Amount of Assets, Unconsolidated | 1 | 6 |
Carrying Amount of Liabilities, Unconsolidated | 0 | 4 |
Maximum Exposure to Loss, Unconsolidated | 1 | 6 |
Other VIEs [Member] | Other [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Carrying Amount of Assets, Consolidated | 1 | 1 |
Carrying Amount of Liabilities, Consolidated | 1 | 0 |
Carrying Amount of Assets, Unconsolidated | 95 | 201 |
Carrying Amount of Liabilities, Unconsolidated | 0 | 86 |
Maximum Exposure to Loss, Unconsolidated | $95 | $201 |
Variable_Interest_Entities_and3
Variable Interest Entities and Securitizations - External Debt and Receivable Balances of Securitization Programs (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Credit Card [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Securities held by third-party investors | $10,289 | $11,347 |
Receivables in the trust | 39,548 | 43,811 |
Cash balance of spread or reserve accounts | 3 | 0 |
Retained interests | 'Yes | 'Yes |
Servicing retained | 'Yes | 'Yes |
Amortization event | 'No | 'No |
Other Loan [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Securities held by third-party investors | 0 | 13 |
Receivables in the trust | 0 | 19 |
Cash balance of spread or reserve accounts | 0 | 0 |
Retained interests | 'No | 'Yes |
Servicing retained | 'No | 'Yes |
Amortization event | 'No | 'No |
Option Arm [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Securities held by third-party investors | 2,320 | 2,702 |
Receivables in the trust | 2,399 | 2,794 |
Cash balance of spread or reserve accounts | 8 | 8 |
Retained interests | 'Yes | 'Yes |
Servicing retained | 'Yes | 'Yes |
Amortization event | 'No | 'No |
GreenPoint HELOCs [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Securities held by third-party investors | 122 | 158 |
Receivables in the trust | 116 | 151 |
Cash balance of spread or reserve accounts | ' | 0 |
Retained interests | 'Yes | 'Yes |
Servicing retained | 'Yes | 'Yes |
Amortization event | 'No | 'Yes |
GreenPoint Manufactured Housing [Member] | ' | ' |
Variable Interest Entity [Line Items] | ' | ' |
Securities held by third-party investors | 994 | 1,117 |
Receivables in the trust | 1,000 | 1,123 |
Cash balance of spread or reserve accounts | $144 | $164 |
Retained interests | 'Yes | 'Yes |
Servicing retained | 'No | 'No |
Amortization event | 'No | 'No |
Variable_Interest_Entities_and4
Variable Interest Entities and Securitizations - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
GreenPoint Mortgage Home Equity Line of Credits Trust [Member] | GreenPoint Mortgage Home Equity Line of Credits Trust [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | Other VIEs [Member] | |||
Trust | Trust | Affordable Housing Entities [Member] | Affordable Housing Entities [Member] | Entities that Provide Capital to Low-Income and Rural Communities [Member] | Entities that Provide Capital to Low-Income and Rural Communities [Member] | Other [Member] | Other [Member] | Other [Member] | |||||
Royalty Interest in Oil and Gas Properties [Member] | |||||||||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities held by third-party investors | $2,300,000,000 | $2,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of monthly payment | 'A significant increase in 1 month LIBOR (the reference index) could cause significant negative amortization, resulting in significant funding obligation, | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funded HELOCs advances | 29,000,000 | 28,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Removal of asset as a result of deconsolidation | ' | ' | 33,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Removal of liabilities as a result of deconsolidation | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Removal of charge from income statement as a result of deconsolidation | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded commitment on residual interests on trusts | 7,000,000 | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of deconsolidated VIE trust in which entity is primary beneficiary | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit funded amount | 144,000,000 | 164,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of letters of credit funded amount | 43,000,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Residual interest on manufactured housing securitization transactions | 1,000,000,000 | 1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Clean-up calls exposure on manufactured housing securitization transactions | 420,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying Amount of Assets, Unconsolidated | 3,432,000,000 | 2,809,000,000 | ' | ' | 3,233,000,000 | 2,597,000,000 | 3,137,000,000 | 2,390,000,000 | 1,000,000 | 6,000,000 | 95,000,000 | 201,000,000 | ' |
Variable interests entity maximum exposure to loss | ' | ' | ' | ' | ' | ' | 3,100,000,000 | ' | ' | ' | ' | ' | 93,000,000 |
Balance of affordable housing entities assets and liabilities unconsolidated | 9,900,000,000 | 7,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
VIEs consolidated assets | 40,812,000,000 | 44,674,000,000 | ' | ' | 390,000,000 | 376,000,000 | 0 | 0 | 389,000,000 | 375,000,000 | 1,000,000 | 1,000,000 | ' |
Carrying amount of other VIE assets and liabilities | 204,000,000 | 255,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying amount of assets, unconsolidated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $93,000,000 | $114,000,000 | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Goodwill | $13,978 | $13,904 | $13,592 |
Total other intangible assets | 1,845 | 2,571 | ' |
Total goodwill and other intangible assets | 15,827 | 16,475 | ' |
MSRs | ' | ' | ' |
Total MSRs | 205 | 55 | ' |
Purchased Credit Card Relationship Intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total other intangible assets | 1,341 | 1,864 | ' |
Core Deposit Intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total other intangible assets | 331 | 496 | ' |
Other [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total other intangible assets | 173 | 211 | ' |
Consumer MSRs [Member] | ' | ' | ' |
MSRs | ' | ' | ' |
Consumer MSRs | 73 | 55 | ' |
Commercial MSRs [Member] | ' | ' | ' |
MSRs | ' | ' | ' |
Commercial MSRs | $132 | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Mortgage_Servicing_Rights | Purchased Credit Card Relationship Intangibles [Member] | Purchased Credit Card Relationship Intangibles [Member] | Commercial MSRs [Member] | 2012 U.S. Card Acquisition [Member] | ||
Purchased Credit Card Relationship Intangibles [Member] | ||||||
Held for Sale [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Net carrying value of intangibles | $1,845,000,000 | $2,571,000,000 | $1,341,000,000 | $1,864,000,000 | ' | $89,000,000 |
Indefinite lived assets | 4,000,000 | ' | ' | ' | ' | ' |
Amortization expense recorded | ' | ' | ' | ' | 3,000,000 | ' |
MSRs impaired | 0 | ' | ' | ' | ' | ' |
Valuation allowance recorded | $0 | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Reserve for Impairment of Intangible Assets [Member] | Reserve for Impairment of Intangible Assets [Member] | All Other Segments [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment | $0 | $0 | ' | ' | ' | ' | ' | ' |
Cash flow value discount rates, low end of range | 8.00% | ' | ' | ' | ' | ' | ' | ' |
Cash flow value discount rates, high end of range | 12.50% | ' | ' | ' | ' | ' | ' | ' |
Carrying value of reporting unit | ' | ' | 33,600,000,000 | ' | ' | ' | ' | ' |
Total equity of the company | 41,744,000,000 | 40,499,000,000 | 41,800,000,000 | 29,666,000,000 | 26,541,000,000 | ' | ' | ' |
Capital allocated to other operations | 8,200,000,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of equity reserved for future capital needs | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Valuation allowance recorded | ' | ' | ' | ' | ' | $0 | $0 | ' |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Goodwill Attributable to Each Business Segments (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | $13,904 | $13,592 |
Acquisitions | 73 | 304 |
Other adjustments | 1 | 8 |
Goodwill, Ending Balance | 13,978 | 13,904 |
Credit Card [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 5,003 | 4,691 |
Acquisitions | 0 | 304 |
Other adjustments | 2 | 8 |
Goodwill, Ending Balance | 5,005 | 5,003 |
Consumer Banking [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 4,583 | 4,583 |
Acquisitions | 3 | 0 |
Other adjustments | -1 | 0 |
Goodwill, Ending Balance | 4,585 | 4,583 |
Commercial Banking [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 4,318 | 4,318 |
Acquisitions | 70 | 0 |
Other adjustments | 0 | 0 |
Goodwill, Ending Balance | $4,388 | $4,318 |
Goodwill_and_Other_Intangible_6
Goodwill and Other Intangible Assets - Intangible Assets Subject to Amortization (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount of Assets | $4,208 | $4,367 |
Accumulated Amortization | -2,363 | -1,796 |
Net Carrying Amount | 1,845 | 2,571 |
Remaining Amortization Period, in years | '6 years 9 months 18 days | '7 years 7 months 6 days |
Purchased Credit Card Relationship Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount of Assets | 2,125 | 2,242 |
Accumulated Amortization | -784 | -378 |
Net Carrying Amount | 1,341 | 1,864 |
Remaining Amortization Period, in years | '6 years 10 months 24 days | '7 years 9 months 18 days |
Core Deposit Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount of Assets | 1,771 | 1,771 |
Accumulated Amortization | -1,440 | -1,275 |
Net Carrying Amount | 331 | 496 |
Remaining Amortization Period, in years | '4 years 8 months 12 days | '5 years 7 months 6 days |
Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount of Assets | 312 | 354 |
Accumulated Amortization | -139 | -143 |
Net Carrying Amount | $173 | $211 |
Remaining Amortization Period, in years | '10 years 2 months 12 days | '10 years 3 months 18 days |
Goodwill_and_Other_Intangible_7
Goodwill and Other Intangible Assets - Intangible Assets Subject to Amortization (Parenthetical) (Detail) (Purchased Credit Card Relationship Intangibles [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Purchased Credit Card Relationship Intangibles [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Accumulated amortization reduced | $104 |
Goodwill_and_Other_Intangible_8
Goodwill and Other Intangible Assets - Actual and Estimated Future Amortization Expense (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Actual for the year ended December 31, | ' | ' | ' |
Actual amortization expense | $671 | $609 | $222 |
Estimated future amounts for the year ended December 31, | ' | ' | ' |
2014 | 532 | ' | ' |
2015 | 430 | ' | ' |
2016 | 333 | ' | ' |
2017 | 239 | ' | ' |
2018 | 154 | ' | ' |
Thereafter | 157 | ' | ' |
Net Carrying Amount | $1,845 | $2,571 | ' |
Premises_Equipment_Lease_Commi2
Premises, Equipment & Lease Commitments - Components of Premises and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property Plant And Equipment [Abstract] | ' | ' |
Land | $569 | $580 |
Buildings and improvements | 2,388 | 2,341 |
Furniture and equipment | 1,874 | 1,589 |
Computer software | 1,632 | 1,563 |
In progress | 720 | 420 |
Total premises and equipment, Gross | 7,183 | 6,493 |
Less: Accumulated depreciation and amortization | -3,344 | -2,906 |
Total premises and equipment, net | $3,839 | $3,587 |
Premises_Equipment_Lease_Commi3
Premises, Equipment & Lease Commitments - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and amortization expense from continuing operations | $571 | $468 | $317 |
Total rent expenses from continuing operations | 245 | 216 | 180 |
Minimum sublease rental income due in future years | $32 | ' | ' |
Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Lease commitments expiration date | 31-Oct-56 | ' | ' |
Premises_Equipment_Lease_Commi4
Premises, Equipment & Lease Commitments - Future Minimum Rental Commitments (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Property Plant And Equipment [Abstract] | ' |
2014 | $245 |
2015 | 227 |
2016 | 213 |
2017 | 194 |
2018 | 171 |
Thereafter | 752 |
Total | $1,802 |
Deposits_and_Borrowings_Additi
Deposits and Borrowings - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Y | ||||
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Interest-bearing deposits | ' | ' | $181,880,000,000 | $190,018,000,000 |
Large denomination time deposits of $100,000 or more | ' | ' | 4,000,000,000 | 4,500,000,000 |
Securitization debt obligations decreased | ' | ' | 1,100,000,000 | ' |
Securitized debt obligations | ' | ' | 10,300,000,000 | 11,400,000,000 |
Decrease in scheduled debt pay downs within our credit card securitization trusts | ' | ' | 2,200,000,000 | ' |
Securitized debt obligations amount decrease due to maturities and repurchases | ' | ' | 3,300,000,000 | ' |
Number of years after filing that shelf registration statement expires | ' | ' | 3 | ' |
Senior and subordinated notes outstanding | ' | ' | 13,134,000,000 | 12,686,000,000 |
Fair value hedging losses | ' | ' | 8,000,000 | 857,000,000 |
Senior notes debt due | ' | ' | 400,000,000 | ' |
Cash paid on exchange of subordinate note | 88,000,000 | 209,000,000 | ' | ' |
Outstanding junior subordinated debentures | ' | 3,650,000,000 | ' | ' |
Loss on extinguishment of debt | ' | 65,000,000 | ' | ' |
Investment in FHLB stock | ' | ' | 774,000,000 | 1,300,000,000 |
Advances from Federal Home Loan Banks | ' | ' | 16,300,000,000 | 20,900,000,000 |
Sum of investment in Federal Reserve stock used as security with Federal Reserve | ' | ' | 1,200,000,000 | 1,200,000,000 |
Floating-Rate [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Senior notes debt due | ' | ' | 380,000,000 | ' |
Debt notes due | ' | ' | 1-Jan-16 | ' |
Fixed-Debt Rate Due [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Senior notes debt due | ' | ' | 1,200,000,000 | ' |
Debt notes due | ' | ' | 1-Jan-18 | ' |
Subordinated Notes Due 2019 [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Debt notes due | ' | 1-Jan-19 | ' | ' |
Subordinated notes due exchanged | ' | 1,200,000,000 | ' | ' |
Subordinated notes due | ' | 8.80% | ' | ' |
Subordinated Notes Due 2023 [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Debt notes due | ' | 1-Jan-23 | ' | ' |
Subordinated notes due exchanged | ' | 1,400,000,000 | ' | ' |
Subordinated notes due | ' | 3.38% | ' | ' |
Senior Notes Due 2017 [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Debt notes due | 1-Jan-17 | ' | ' | ' |
Subordinated notes due exchanged | 763,000,000 | ' | ' | ' |
Subordinated notes due | 6.75% | ' | ' | ' |
Senior Notes Due 2023 [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Debt notes due | 1-Jan-23 | ' | ' | ' |
Subordinated notes due exchanged | 839,000,000 | ' | ' | ' |
Subordinated notes due | 3.50% | ' | ' | ' |
Senior Notes [Member] | ' | ' | ' | ' |
Deposits And Borrowings [Line Items] | ' | ' | ' | ' |
Proceeds from issuance of senior unsecured debt | ' | ' | $2,000,000,000 | ' |
Deposits_and_Borrowings_Schedu
Deposits and Borrowings - Schedule of Deposits, Short-Term Borrowings and Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Securitized Debt Obligations [Member] | Securitized Debt Obligations [Member] | Fixed Unsecured Senior Debt [Member] | Fixed Unsecured Senior Debt [Member] | Floating Unsecured Senior Debt [Member] | Floating Unsecured Senior Debt [Member] | Total Unsecured Senior Debt [Member] | Total Unsecured Senior Debt [Member] | Fixed Unsecured Subordinated Debt [Member] | Fixed Unsecured Subordinated Debt [Member] | Total Senior and Subordinated Notes [Member] | Total Senior and Subordinated Notes [Member] | Fixed Junior Subordinated Debt [Member] | Fixed Junior Subordinated Debt [Member] | FHLB Advances [Member] | FHLB Advances [Member] | |||
Deposits: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-interest bearing deposits | $22,643 | $22,467 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest-bearing deposits | 181,880 | 190,018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total deposits | 204,523 | 212,485 | 128,226 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FHLB advances | 15,300 | 19,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,016 | 1,037 |
Total short-term borrowings | 16,215 | 21,148 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securitized debt obligations | 10,300 | 11,400 | ' | 10,289 | 11,398 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured debt | ' | ' | ' | ' | ' | 9,612 | 8,623 | 852 | 500 | ' | ' | 2,670 | 3,563 | ' | ' | ' | ' | ' | ' |
Total unsecured senior debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,464 | 9,123 | ' | ' | ' | ' | ' | ' | ' | ' |
Total senior and subordinated notes | 13,134 | 12,686 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,134 | 12,686 | ' | ' | ' | ' |
Other long-term borrowings: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed junior subordinated debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 3,641 | ' | ' |
FHLB advances | 15,300 | 19,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,016 | 1,037 |
Total long-term debt | 24,439 | 28,762 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total short-term borrowings and long-term debt | $40,654 | $49,910 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity Date, Start date | ' | ' | ' | 1-Jan-14 | ' | 1-Jan-14 | ' | 1-Jan-14 | ' | ' | ' | 1-Jan-14 | ' | ' | ' | ' | ' | 1-Jan-14 | ' |
Maturity Date, End date | ' | ' | ' | 1-Jan-25 | ' | 1-Jan-23 | ' | 1-Jan-16 | ' | ' | ' | 1-Jan-23 | ' | ' | ' | ' | ' | 1-Jan-23 | ' |
Interest Rate, Minimum | ' | ' | ' | 0.21% | ' | 1.00% | ' | 0.70% | ' | ' | ' | 3.38% | ' | ' | ' | ' | ' | 0.31% | ' |
Interest Rate, Maximum | ' | ' | ' | 6.40% | ' | 7.38% | ' | 1.39% | ' | ' | ' | 8.80% | ' | ' | ' | ' | ' | 6.88% | ' |
Weighted Average Interest Rate | ' | ' | ' | 1.57% | ' | 3.61% | ' | 0.96% | ' | 3.26% | ' | 4.98% | ' | ' | ' | ' | ' | 0.73% | ' |
Deposits_and_Borrowings_Schedu1
Deposits and Borrowings - Schedule of Maturity Profile of Borrowings and Debt (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Debt And Deposits Maturities [Line Items] | ' |
2014 | $28,849 |
2015 | 5,761 |
2016 | 6,536 |
2017 | 4,208 |
2018 | 1,854 |
Thereafter | 3,779 |
Total | 50,987 |
Interest-Bearing Time Deposits [Member] | ' |
Debt And Deposits Maturities [Line Items] | ' |
2014 | 6,348 |
2015 | 2,591 |
2016 | 392 |
2017 | 212 |
2018 | 667 |
Thereafter | 123 |
Total | 10,333 |
Securitized Debt Obligations [Member] | ' |
Debt And Deposits Maturities [Line Items] | ' |
2014 | 2,958 |
2015 | 501 |
2016 | 3,521 |
2017 | 3,095 |
2018 | 0 |
Thereafter | 214 |
Total | 10,289 |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase [Member] | ' |
Debt And Deposits Maturities [Line Items] | ' |
2014 | 915 |
2015 | 0 |
2016 | 0 |
2017 | 0 |
2018 | 0 |
Thereafter | 0 |
Total | 915 |
Senior and Subordinated Notes [Member] | ' |
Debt And Deposits Maturities [Line Items] | ' |
2014 | 2,385 |
2015 | 2,649 |
2016 | 2,604 |
2017 | 882 |
2018 | 1,176 |
Thereafter | 3,438 |
Total | 13,134 |
Other Borrowings [Member] | ' |
Debt And Deposits Maturities [Line Items] | ' |
2014 | 16,243 |
2015 | 20 |
2016 | 19 |
2017 | 19 |
2018 | 11 |
Thereafter | 4 |
Total | $16,316 |
Deposits_and_Borrowings_Schedu2
Deposits and Borrowings - Schedule of Components of Interest Expense (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Short-term borrowings: | ' | ' | ' |
Federal funds purchased and securities loaned or sold under agreements to repurchase | $1 | $2 | $4 |
FHLB advances | 28 | 18 | 2 |
Total short-term borrowings | 29 | 20 | 6 |
Long-term debt: | ' | ' | ' |
Securitized debt obligations | 183 | 271 | 422 |
Unsecured senior debt | 234 | 226 | 181 |
Unsecured subordinated debt | 81 | 119 | 119 |
Total senior and subordinated notes | 315 | 345 | 300 |
Junior subordinated debt | 1 | 315 | 310 |
FHLB advances | 7 | 11 | 12 |
Other | 16 | 10 | 9 |
Total long-term debt | 522 | 952 | 1,053 |
Total short-term borrowings and long-term debt | $551 | $972 | $1,059 |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | ' | ' |
Gain (net after-tax) recorded in AOCI related to derivatives designated as cash flow hedges expected to be reclassified to earnings over the next 12 months | $71 | ' |
Maximum length of time over which forecasted transactions were hedged, years | '5 years | ' |
Fair value, derivative liabilities | 710 | 400 |
Independent margin | 58 | 67 |
Cash collateral from derivatives counterparties | 397 | 922 |
Securities received from derivatives counterparties, ability to repledge | 53 | 238 |
Cumulative counterparty credit risk valuation adjustment | 7 | 9 |
Cumulative credit risk valuation adjustment related to our credit quality | 6 | 1 |
Credit-Risk-Related Contingency Features and Collateral [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Fair value, derivative liabilities | ' | 7 |
Collateral posted for derivative instruments | 371 | 109 |
Maximum [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Contingent collateral required upon credit rating falling below investment grade | 1 | 4 |
Maximum [Member] | Credit-Risk-Related Contingency Features and Collateral [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Fair value, derivative liabilities | $1 | ' |
Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Higher remaining maturity range | '2019 | ' |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities - Notional and Fair Value of Derivative Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | $63,424 | $57,812 |
Derivatives at Fair Value - Assets | 959 | 1,848 |
Derivatives at Fair Value - Liabilities | 710 | 400 |
Derivatives Designated as Accounting Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 33,326 | 34,139 |
Derivatives at Fair Value - Assets | 338 | 1,154 |
Derivatives at Fair Value - Liabilities | 425 | 54 |
Derivatives Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 28,520 | 28,927 |
Derivatives at Fair Value - Assets | 289 | 1,136 |
Derivatives at Fair Value - Liabilities | 372 | 14 |
Derivatives Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | Fair Value Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 15,695 | 15,902 |
Derivatives at Fair Value - Assets | 289 | 1,020 |
Derivatives at Fair Value - Liabilities | 223 | 0 |
Derivatives Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 12,825 | 13,025 |
Derivatives at Fair Value - Assets | 0 | 116 |
Derivatives at Fair Value - Liabilities | 149 | 14 |
Derivatives Designated as Accounting Hedges [Member] | Foreign Exchange Contracts [Member] | Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 4,806 | 5,212 |
Derivatives at Fair Value - Assets | 49 | 18 |
Derivatives at Fair Value - Liabilities | 53 | 40 |
Derivatives Not Designated as Accounting Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 30,098 | 23,673 |
Derivatives at Fair Value - Assets | 621 | 694 |
Derivatives at Fair Value - Liabilities | 285 | 346 |
Derivatives Not Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 27,582 | 21,600 |
Derivatives at Fair Value - Assets | 434 | 536 |
Derivatives at Fair Value - Liabilities | 233 | 297 |
Derivatives Not Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | MSRs [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 353 | 147 |
Derivatives at Fair Value - Assets | 0 | 12 |
Derivatives at Fair Value - Liabilities | 7 | 2 |
Derivatives Not Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | Customer Accommodation [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 25,365 | 18,900 |
Derivatives at Fair Value - Assets | 405 | 479 |
Derivatives at Fair Value - Liabilities | 209 | 273 |
Derivatives Not Designated as Accounting Hedges [Member] | Interest Rate Contracts [Member] | Other Interest Rate Exposures [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 1,864 | 2,553 |
Derivatives at Fair Value - Assets | 29 | 45 |
Derivatives at Fair Value - Liabilities | 17 | 22 |
Derivatives Not Designated as Accounting Hedges [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 1,422 | 1,372 |
Derivatives at Fair Value - Assets | 184 | 158 |
Derivatives at Fair Value - Liabilities | 37 | 46 |
Derivatives Not Designated as Accounting Hedges [Member] | Other Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional or Contractual Amount | 1,094 | 701 |
Derivatives at Fair Value - Assets | 3 | 0 |
Derivatives at Fair Value - Liabilities | $15 | $3 |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities - Summary of Derivative Transactions and Repurchase Agreements Subject to Legally Enforceable Master Netting Arrangements (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | $959 | $1,848 |
Gross Amounts Offset in the Consolidated Balance Sheet | 0 | 0 |
Net Amounts of Assets Presented in the Consolidated Balance Sheet | 959 | 1,848 |
Net Exposure | 247 | 468 |
Gross Amounts of Recognized Liabilities | 1,617 | 1,635 |
Gross Amounts Offset in the Consolidated Balance Sheet | 0 | 0 |
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet | 1,617 | 1,635 |
Net Exposure | 77 | 82 |
Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 959 | 1,848 |
Gross Amounts Offset in the Consolidated Balance Sheet | 0 | 0 |
Net Amounts of Assets Presented in the Consolidated Balance Sheet | 959 | 1,848 |
Net Exposure | 247 | 468 |
Gross Amounts of Recognized Liabilities | 710 | 400 |
Gross Amounts Offset in the Consolidated Balance Sheet | 0 | 0 |
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet | 710 | 400 |
Net Exposure | 77 | 82 |
Repurchase Agreements [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts of Recognized Liabilities | 907 | 1,235 |
Gross Amounts Offset in the Consolidated Balance Sheet | 0 | 0 |
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet | 907 | 1,235 |
Net Exposure | 0 | 0 |
Financial Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -262 | -220 |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -262 | -220 |
Financial Instruments [Member] | Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -262 | -220 |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -262 | -220 |
Financial Instruments [Member] | Repurchase Agreements [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts Not Offset in the Consolidated Balance Sheet | 0 | 0 |
Collateral Received [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -450 | -1,160 |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -1,278 | -1,333 |
Collateral Received [Member] | Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -450 | -1,160 |
Gross Amounts Not Offset in the Consolidated Balance Sheet | -371 | -98 |
Collateral Received [Member] | Repurchase Agreements [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gross Amounts Not Offset in the Consolidated Balance Sheet | ($907) | ($1,235) |
Derivative_Instruments_and_Hed5
Derivative Instruments and Hedging Activities - Net Gains (Losses) Recognized in Earnings Related to Derivatives in Fair Value Hedging Relationships and Free-Standing Derivatives (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | $3 | ($36) | ($197) |
Net derivative gains (losses) recognized in earnings | -40 | -72 | -182 |
Derivatives Designated as Accounting Hedges [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in earnings on derivatives | -550 | 1 | 348 |
Gains (losses) recognized in earnings on hedged items | 507 | -37 | -333 |
Net fair value hedge ineffectiveness gains (losses) | -43 | -36 | 15 |
Net derivative gains (losses) recognized in earnings | 30 | 20 | -18 |
Derivatives Not Designated as Accounting Hedges [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | 28 | -17 | -248 |
Derivatives Not Designated as Accounting Hedges [Member] | MSRs [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | -12 | 4 | 4 |
Derivatives Not Designated as Accounting Hedges [Member] | Customer Accommodation [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | 49 | 39 | 23 |
Derivatives Not Designated as Accounting Hedges [Member] | Other Interest Rate Exposures [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | -9 | -60 | -275 |
Derivatives Not Designated as Accounting Hedges [Member] | Foreign Exchange Contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | -5 | -15 | 30 |
Derivatives Not Designated as Accounting Hedges [Member] | Other Contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) on derivatives not designated as accounting hedges | ($20) | ($4) | $21 |
Derivative_Instruments_and_Hed6
Derivative Instruments and Hedging Activities - Net Gains (Losses) Related to Derivatives Designated as Cash Flow Hedges and Net Investment Hedges (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flow hedges: | ' | ' | ' |
Interest rate contracts | ($103) | $116 | $32 |
Foreign exchange contracts | -21 | -23 | -20 |
Total | -124 | 93 | 12 |
Net Investment Hedges: | ' | ' | ' |
Foreign exchange contracts | 0 | 0 | -2 |
Net derivative gains (losses) recognized in AOCI | -124 | 93 | 10 |
Gains (losses) reclassified from AOCI into earnings: | ' | ' | ' |
Interest rate contracts | 53 | 42 | 3 |
Foreign exchange contracts | -22 | -22 | -21 |
Total | 31 | 20 | -18 |
Gains (losses) recognized in earnings due to in effectiveness: | ' | ' | ' |
Interest rate contracts | -1 | 0 | 0 |
Net derivative gains (losses) recognized in earnings | -40 | -72 | -182 |
Derivatives Designated as Accounting Hedges [Member] | ' | ' | ' |
Gains (losses) recognized in earnings due to in effectiveness: | ' | ' | ' |
Net derivative gains (losses) recognized in earnings | $30 | $20 | ($18) |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Equity [Abstract] | ' | ' |
Deferred tax, AOCI | $544 | $443 |
Stockholders_Equity_Change_in_
Stockholders' Equity - Change in AOCI Gain (Loss) by Component (Net of Tax) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI beginning balance | $739 | $169 | $248 |
Other comprehensive income (loss) before reclassifications | -1,632 | ' | ' |
Net realized (gains) losses reclassified from AOCI into earnings | 21 | ' | ' |
Net other comprehensive income (loss) | -1,611 | 570 | -79 |
AOCI ending balance | -872 | 739 | 169 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Securities Available for Sale [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI beginning balance | 703 | 304 | 382 |
Other comprehensive income (loss) before reclassifications | -619 | ' | ' |
Net realized (gains) losses reclassified from AOCI into earnings | 22 | ' | ' |
Net other comprehensive income (loss) | -597 | 399 | -78 |
AOCI ending balance | 106 | 703 | 304 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Securities Held-to-Maturity [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI beginning balance | 0 | 0 | 0 |
Other comprehensive income (loss) before reclassifications | -915 | ' | ' |
Net realized (gains) losses reclassified from AOCI into earnings | 18 | ' | ' |
Net other comprehensive income (loss) | -897 | 0 | 0 |
AOCI ending balance | -897 | 0 | 0 |
Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI beginning balance | 45 | -26 | -52 |
Other comprehensive income (loss) before reclassifications | -124 | ' | ' |
Net realized (gains) losses reclassified from AOCI into earnings | -31 | ' | ' |
Net other comprehensive income (loss) | -155 | 71 | 26 |
AOCI ending balance | -110 | 45 | -26 |
Foreign Currency Translation Adjustments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI beginning balance | 32 | -49 | -36 |
Other comprehensive income (loss) before reclassifications | 8 | ' | ' |
Net realized (gains) losses reclassified from AOCI into earnings | 0 | ' | ' |
Net other comprehensive income (loss) | 8 | 81 | -13 |
AOCI ending balance | 40 | 32 | -49 |
Other [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI beginning balance | -41 | -60 | -46 |
Other comprehensive income (loss) before reclassifications | 18 | ' | ' |
Net realized (gains) losses reclassified from AOCI into earnings | 12 | ' | ' |
Net other comprehensive income (loss) | 30 | 19 | -14 |
AOCI ending balance | ($11) | ($41) | ($60) |
Stockholders_Equity_Reclassifi
Stockholders' Equity - Reclassification from AOCI (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Total reclassifications | ($21) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Securities Available for Sale [Member] | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Available for sale securities, before tax | -34 |
Income tax benefit/provision | -12 |
Available for sale securities, net of tax | -22 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Securities Held-to-Maturity [Member] | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Other - Non-interest income | -29 |
Income tax benefit/provision | -11 |
Held to maturity securities, net of tax | -18 |
Cash Flow Hedges [Member] | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Cash flow hedges | 51 |
Income tax benefit/provision | 20 |
Derivatives reclassification into AOCI, Net of Tax | 31 |
Cash Flow Hedges [Member] | Interest Rate Contracts [Member] | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Cash flow hedges | 86 |
Cash Flow Hedges [Member] | Foreign Exchange Contracts [Member] | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Cash flow hedges | -35 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' |
Other | -13 |
Income tax benefit/provision | -1 |
Net income | ($12) |
Stockholders_Equity_Components
Stockholders' Equity - Components of Other Comprehensive Income Loss and Related Tax Impact (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Net unrealized gains (losses) on securities available for sale, Before Tax | ($961) | $673 | ($119) |
Net unrealized gains (losses) on securities transfered to held to maturity, Before Tax | -1,435 | 0 | 0 |
Net unrealized gains (losses) on cash flow hedges, Before Tax | -250 | 120 | 44 |
Foreign currency translation adjustments, Before Tax | 8 | 81 | -13 |
Other, Before Tax | 49 | -1 | -21 |
Other comprehensive income (loss), Before Tax | -2,589 | 873 | -109 |
Net unrealized gains (losses) on securities available for sale, Tax Provision (Benefit) | -364 | 256 | -41 |
Net unrealized gains (losses) on securities transfered to held to maturity, Tax Provision (Benefit) | -538 | 0 | 0 |
Net unrealized gains (losses) on cash flow hedges, Tax Provision (Benefit) | -95 | 47 | 18 |
Foreign currency translation adjustments, Tax Provision (Benefit) | 0 | 0 | 0 |
Other, Tax Provision (Benefit) | 19 | 0 | -7 |
Other comprehensive income (loss), Tax Provision (Benefit) | -978 | 303 | -30 |
Net unrealized gains (losses) on securities available for sale, After Tax | -597 | 417 | -78 |
Net unrealized gains (losses) on securities transfered to held to maturity, After Tax | -897 | 0 | 0 |
Net unrealized gains (losses) on cash flow hedges, After Tax | -155 | 73 | 26 |
Foreign currency translation adjustments, After Tax | 8 | 81 | -13 |
Other, After Tax | 30 | -1 | -14 |
Other comprehensive income (loss), net of tax | ($1,611) | $570 | ($79) |
Regulatory_and_Capital_Adequac2
Regulatory and Capital Adequacy - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Minimum Tier 1 leverage capital ration for banks that meet certain specified criteria | 3.00% | ' |
Basis points higher than the minimum capital standard for well capitalized | 2.00% | ' |
Federal Reserve's minimum cash reserve requirements | 1,500,000,000 | ' |
Capital One Financial Corp [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital, Minimum Capital Adequacy | 8.00% | 8.00% |
Tier 1 leverage, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Well Capitalized | 6.00% | 6.00% |
Total risk-based capital, Well Capitalized | 10.00% | 10.00% |
Capital One Bank (USA) N.A. [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital, Minimum Capital Adequacy | 8.00% | 8.00% |
Tier 1 leverage, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Well Capitalized | 6.00% | 6.00% |
Total risk-based capital, Well Capitalized | 10.00% | 10.00% |
Tier 1 leverage, Well Capitalized | 5.00% | 5.00% |
Funds available for dividend payments to parent | 2,300,000,000 | ' |
Capital One, N.A. [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital, Minimum Capital Adequacy | 8.00% | 8.00% |
Tier 1 leverage, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Well Capitalized | 6.00% | 6.00% |
Total risk-based capital, Well Capitalized | 10.00% | 10.00% |
Tier 1 leverage, Well Capitalized | 5.00% | 5.00% |
Funds available for dividend payments to parent | 127,000,000 | ' |
Regulatory_and_Capital_Adequac3
Regulatory and Capital Adequacy - Schedule of Comparison of Capital Ratios (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Capital One Financial Corp [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 common capital, Capital Ratio | 12.23% | 10.96% |
Tier 1 risk-based capital, Capital Ratio | 12.61% | 11.34% |
Tier 1 risk-based capital, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Well Capitalized | 6.00% | 6.00% |
Total risk-based capital, Capital Ratio | 14.73% | 13.56% |
Total risk-based capital, Minimum Capital Adequacy | 8.00% | 8.00% |
Total risk-based capital, Well Capitalized | 10.00% | 10.00% |
Tier 1 leverage, Capital Ratio | 10.10% | 8.66% |
Tier 1 leverage, Minimum Capital Adequacy | 4.00% | 4.00% |
Capital One Bank (USA) N.A. [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 risk-based capital, Capital Ratio | 11.52% | 11.32% |
Tier 1 risk-based capital, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Well Capitalized | 6.00% | 6.00% |
Total risk-based capital, Capital Ratio | 14.95% | 14.74% |
Total risk-based capital, Minimum Capital Adequacy | 8.00% | 8.00% |
Total risk-based capital, Well Capitalized | 10.00% | 10.00% |
Tier 1 leverage, Capital Ratio | 10.26% | 10.43% |
Tier 1 leverage, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 leverage, Well Capitalized | 5.00% | 5.00% |
Capital One, N.A. [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 risk-based capital, Capital Ratio | 12.73% | 13.59% |
Tier 1 risk-based capital, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 risk-based capital, Well Capitalized | 6.00% | 6.00% |
Total risk-based capital, Capital Ratio | 13.82% | 14.85% |
Total risk-based capital, Minimum Capital Adequacy | 8.00% | 8.00% |
Total risk-based capital, Well Capitalized | 10.00% | 10.00% |
Tier 1 leverage, Capital Ratio | 9.00% | 9.15% |
Tier 1 leverage, Minimum Capital Adequacy | 4.00% | 4.00% |
Tier 1 leverage, Well Capitalized | 5.00% | 5.00% |
Earnings_Per_Common_Share_Sche
Earnings Per Common Share - Schedule of Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic earnings per share | ' | ' | ' |
Income from continuing operations, net of tax | $4,392 | $3,734 | $3,253 |
Loss from discontinued operations, net of tax | -233 | -217 | -106 |
Net income | 4,159 | 3,517 | 3,147 |
Dividends and undistributed earnings allocated to participating securities | -17 | -15 | -26 |
Preferred stock dividends | -53 | -15 | 0 |
Net income available to common stockholders | 4,089 | 3,487 | 3,121 |
Net income from continuing operations | $7.45 | $6.60 | $7.08 |
Loss from discontinued operations | ($0.40) | ($0.39) | ($0.23) |
Net income per share | $7.05 | $6.21 | $6.85 |
Total weighted-average basic shares outstanding | 579.7 | 561.1 | 455.5 |
Diluted earnings per share | ' | ' | ' |
Net income available to common stockholders | $4,089 | $3,487 | $3,121 |
Net income from continuing operations | $7.35 | $6.54 | $7.03 |
Loss from discontinued operations | ($0.39) | ($0.38) | ($0.23) |
Net income per share | $6.96 | $6.16 | $6.80 |
Stock options, warrants, contingently issuable shares, and other | 7.9 | 5.4 | 3.6 |
Total weighted-average diluted shares outstanding | 587.6 | 566.5 | 459.1 |
Earnings_Per_Common_Share_Sche1
Earnings Per Common Share - Schedule of Computation of Basic and Diluted Earnings Per Common Share (Parenthetical) (Detail) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Anti-dilutive awards or options excluded from the computation of diluted earnings per share (in shares) | 5 | 7 | 30 |
Other_NonInterest_Expense_Sche
Other Non-Interest Expense - Schedule of Components of Other Non-Interest Expense (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components Of Other Operating Cost And Expense Line Items | ' | ' | ' |
Other non-interest expense | $2,153 | $2,386 | $1,801 |
Collections [Member] | ' | ' | ' |
Components Of Other Operating Cost And Expense Line Items | ' | ' | ' |
Other non-interest expense | 470 | 544 | 563 |
Fraud Losses [Member] | ' | ' | ' |
Components Of Other Operating Cost And Expense Line Items | ' | ' | ' |
Other non-interest expense | 218 | 190 | 122 |
Bankcard, Regulatory, and Other Fee Assessments [Member] | ' | ' | ' |
Components Of Other Operating Cost And Expense Line Items | ' | ' | ' |
Other non-interest expense | 562 | 525 | 394 |
Other [Member] | ' | ' | ' |
Components Of Other Operating Cost And Expense Line Items | ' | ' | ' |
Other non-interest expense | $903 | $1,127 | $722 |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans - Summary of Common Shares Reserved and Available for Future Issuance for the Stock-Based Compensation Plan (Detail) (Amended and Restated 2004 Stock Incentive Plan [Member]) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Amended and Restated 2004 Stock Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares Reserved under plans | 40,000 | ' | ' |
Shares Available for Issuance | 8,590 | 10,897 | 13,286 |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense from award | $240 | $202 | $189 |
Recognized tax benefit from stock-based compensation arrangements | 91 | 77 | 66 |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percentage of vesting right for awards per year | '33 1/3 | ' | ' |
Maximum contractual term (Years) | '10 years | ' | ' |
Weighted-average fair value of options granted | $13.42 | $12.25 | $13.17 |
Total intrinsic value of stock options exercised | 47 | 36 | 23 |
Unrecognized compensation expense related to unvested awards | 3 | ' | ' |
Weighted average period of recognition of unrecognized compensation costs (Years) | '8 months 12 days | ' | ' |
Stock Options [Member] | First Anniversary [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period (in years) | '1 year | ' | ' |
Stock Options [Member] | Third Anniversary [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period (in years) | '3 years | ' | ' |
Restricted Stock Awards and Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percentage of vesting right for awards per year | '33 1/3 | ' | ' |
Unrecognized compensation expense related to unvested awards | 54 | ' | ' |
Weighted average period of recognition of unrecognized compensation costs (Years) | '1 year 6 months | ' | ' |
Weighted-average grant date fair value, granted | $58.90 | $46.89 | $47.36 |
Total fair value of awards vested | 62 | 107 | 95 |
Restricted Stock Awards and Units [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period (in years) | '1 year | ' | ' |
Performance Share Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period (in years) | '3 years | ' | ' |
Unrecognized compensation expense related to unvested awards | 13 | ' | ' |
Weighted average period of recognition of unrecognized compensation costs (Years) | '1 year 6 months | ' | ' |
Weighted-average grant date fair value, granted | $52.05 | $39.07 | $52.10 |
Total fair value of awards vested | 10 | 21 | 22 |
Percentage of target award opportunities, minimum | 0.00% | 0.00% | 0.00% |
Percentage of target award opportunities, maximum | 150.00% | 200.00% | 200.00% |
Performance Shares [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percentage of vesting right for awards per year | '33 1/3 | ' | ' |
Award vesting period (in years) | '3 years | ' | ' |
Unrecognized compensation expense related to unvested awards | 17 | ' | ' |
Weighted average period of recognition of unrecognized compensation costs (Years) | '10 months 24 days | ' | ' |
Weighted-average grant date fair value, granted | $56.32 | $45.91 | ' |
Total fair value of awards vested | 16 | ' | ' |
Performance Shares [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Performance share awards that will vest each year | 50.00% | ' | ' |
Performance Shares [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Performance share awards that will vest each year | 100.00% | ' | ' |
Cash Equity Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percentage of vesting right for awards per year | '33 1/3 | ' | ' |
Unrecognized compensation expense related to unvested awards | 59 | ' | ' |
Weighted average period of recognition of unrecognized compensation costs (Years) | '1 year 4 months 24 days | ' | ' |
Number of common stock trading days required under vesting condition | '20 days | ' | ' |
Award vesting period | 'Some cash-settled restricted stock units cliff vest in December of the year of grant. | ' | ' |
Cash payments to settle awards | 74 | 88 | 81 |
Cash Equity Units [Member] | Third Anniversary [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period (in years) | '3 years | ' | ' |
Associate Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense from award | $11 | $8 | $6 |
Maximum percentage of monthly base pay eligible for the purchase plan | 15.00% | ' | ' |
Minimum percentage of monthly base pay required for the purchase plan | 1.00% | ' | ' |
Percentage of current market price at which purchase plan shares are bought | 85.00% | ' | ' |
Additional shares authorized | ' | 10,000,000 | ' |
Shares Reserved under plans | 18,000,000 | 18,000,000 | 8,000,000 |
Shares available for grant under plans (in shares) | 9,400,000 | 10,700,000 | ' |
Dividend Reinvestment and Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares available for grant under plans (in shares) | 7,400,000 | 7,400,000 | ' |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans - Summary of Stock Options Activity (Detail) (USD $) | 12 Months Ended |
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Shares Subject to Options, Outstanding, at beginning of period | 14,259 |
Shares Subject to Options, Granted | 680 |
Shares Subject to Options, Exercised | 2,305 |
Shares Subject to Options, Forfeited | 349 |
Shares Subject to Options, Expired | 34 |
Shares Subject to Options, Outstanding, at end of period | 12,251 |
Shares Subject to Options, Exercisable, at end of period | 10,096 |
Weighted- Average Exercise Price, Outstanding, at beginning of period | $56.14 |
Weighted- Average Exercise Price, Granted | $56.32 |
Weighted- Average Exercise Price, Exercised | $45.68 |
Weighted- Average Exercise Price, Forfeited | $80.03 |
Weighted- Average Exercise Price, Expired | $65.07 |
Weighted- Average Exercise Price, Outstanding, at end of period | $57.41 |
Weighted- Average Exercise Price, Exercisable, at end of period | $58.98 |
Weighted- Average Remaining Contractual Term, Outstanding, at end of period, years | '4 years 3 months 18 days |
Weighted- Average Remaining Contractual Term, Exercisable, at end of period, years | '3 years 7 months 6 days |
Aggregate Intrinsic Value, Outstanding, at end of period | $258 |
Aggregate Intrinsic Value, Exercisable, at end of period | $200 |
StockBased_Compensation_Plans_4
Stock-Based Compensation Plans - Summary of Stock Options Cash Flow Impact (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Cash received for options exercised | $105 | $66 | $38 |
Tax benefit realized for options exercised | $18 | $14 | $8 |
StockBased_Compensation_Plans_5
Stock-Based Compensation Plans - Weighted Average Assumptions Used to Value Stock Options Granted (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Dividend yield | 2.29% | 1.70% | 2.34% |
Volatility | 32.00% | 35.00% | 36.00% |
Risk-free interest rate | 1.07% | 0.74% | 2.04% |
Expected option lives | '5 years 7 months 6 days | '5 years | '5 years |
StockBased_Compensation_Plans_6
Stock-Based Compensation Plans - Summary of Activity for Restricted Stock Awards and Units (Detail) (Restricted Stock Awards and Units [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Restricted Stock Awards and Units [Member] | ' |
Stock Based Compensation Activity [Line Items] | ' |
Shares, Unvested, at beginning of period | 2,409 |
Shares, Granted | 1,045 |
Shares, Vested | 1,084 |
Shares, Forfeited | 182 |
Shares, Unvested, at end of period | 2,188 |
Weighted Average Grant Date Fair Value, Unvested, at beginning of period | $46.09 |
Weighted Average Grant Date Fair Value, Granted | $58.90 |
Weighted Average Grant Date Fair Value, Vested | $43.62 |
Weighted Average Grant Date Fair Value, Forfeited | $50.41 |
Weighted Average Grant Date Fair Value, Unvested, at end of period | $53.07 |
StockBased_Compensation_Plans_7
Stock-Based Compensation Plans - Summary of Activity for Performance Share Units (Detail) (Performance Share Units [Member], USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Performance Share Units [Member] | ' | ' | ' |
Stock Based Compensation Activity [Line Items] | ' | ' | ' |
Shares, Unvested, at beginning of period | 646 | ' | ' |
Shares, Granted | 422 | ' | ' |
Shares, Vested | 180 | ' | ' |
Shares, Forfeited | 24 | ' | ' |
Shares, Unvested, at end of period | 864 | 646 | ' |
Weighted Average Grant Date Fair Value, Unvested, at beginning of period | $45.05 | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $52.05 | $39.07 | $52.10 |
Weighted Average Grant Date Fair Value, Vested | $36.55 | ' | ' |
Weighted Average Grant Date Fair Value, Forfeited | $46.26 | ' | ' |
Weighted Average Grant Date Fair Value, Unvested, at end of period | $50.21 | $45.05 | ' |
StockBased_Compensation_Plans_8
Stock-Based Compensation Plans - Summary of Activity for Performance Share Awards (Detail) (Performance Shares [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Performance Shares [Member] | ' |
Stock Based Compensation Activity [Line Items] | ' |
Shares, Unvested, at beginning of period | 770 |
Shares, Granted | 686 |
Shares, Vested | 276 |
Shares, Forfeited | 41 |
Shares, Unvested, at end of period | 1,139 |
Weighted Average Grant Date Fair Value, Unvested, at beginning of period | $45.93 |
Weighted Average Grant Date Fair Value, Granted | $56.32 |
Weighted Average Grant Date Fair Value, Vested | $46.36 |
Weighted Average Grant Date Fair Value, Forfeited | $52.07 |
Weighted Average Grant Date Fair Value, Unvested, at end of period | $51.87 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Employer contributions into the Associate Savings Plan | $206 | $167 | $151 |
Domestic Equity [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Asset allocation targets | 39.00% | ' | ' |
Asset allocation targets, minimum | 34.00% | ' | ' |
Asset allocation targets, maximum | 44.00% | ' | ' |
International Equity [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Asset allocation targets | 16.00% | ' | ' |
Asset allocation targets, minimum | 11.00% | ' | ' |
Asset allocation targets, maximum | 21.00% | ' | ' |
Fixed Income Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Asset allocation targets | 45.00% | ' | ' |
Asset allocation targets, minimum | 35.00% | ' | ' |
Asset allocation targets, maximum | 55.00% | ' | ' |
Defined Pension Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Contributions expected to be made to pension plans | 1 | ' | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Contributions are expected to be made | $2 | ' | ' |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans - Schedule of Changes in Benefit Obligation and Plan Assets (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets as of end of year | $237 | $231 |
Defined Pension Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 1 | 1 |
Interest cost | 7 | 8 |
Net actuarial loss (gain) | 52 | 76 |
Over (under) funded status as of end of year | 45 | 17 |
Defined Pension Benefits [Member] | Benefit Obligation [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Benefit obligation as of beginning of year | 207 | 198 |
Service cost | 1 | 1 |
Interest cost | 7 | 8 |
Plan amendments | 0 | 0 |
Benefits paid | -17 | -18 |
Net actuarial loss (gain) | -13 | 18 |
Benefit obligation as of end of year | 185 | 207 |
Defined Pension Benefits [Member] | Plan Assets [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets as of beginning of year | 224 | 214 |
Actual return on plan assets | 22 | 27 |
Employer contributions | 1 | 1 |
Benefits paid | -17 | -18 |
Fair value of plan assets as of end of year | 230 | 224 |
Other Postretirement Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 0 | 0 |
Interest cost | 2 | 3 |
Net actuarial loss (gain) | -14 | -2 |
Over (under) funded status as of end of year | -46 | -60 |
Other Postretirement Benefits [Member] | Benefit Obligation [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Benefit obligation as of beginning of year | 67 | 67 |
Service cost | 0 | 0 |
Interest cost | 2 | 3 |
Plan amendments | 0 | 3 |
Benefits paid | -4 | -4 |
Net actuarial loss (gain) | -12 | -2 |
Benefit obligation as of end of year | 53 | 67 |
Other Postretirement Benefits [Member] | Plan Assets [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets as of beginning of year | 7 | 7 |
Actual return on plan assets | 1 | 1 |
Employer contributions | 3 | 3 |
Benefits paid | -4 | -4 |
Fair value of plan assets as of end of year | $7 | $7 |
Employee_Benefit_Plans_Schedul1
Employee Benefit Plans - Schedule of Amount Recognized in Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Pension Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Other assets | $56 | $30 |
Other liabilities | -11 | -13 |
Net amount recognized as of end of year | 45 | 17 |
Accumulated benefit obligation at end of year | 185 | 207 |
Other Postretirement Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Other assets | 0 | 0 |
Other liabilities | -46 | -60 |
Net amount recognized as of end of year | -46 | -60 |
Accumulated benefit obligation at end of year | $0 | $0 |
Employee_Benefit_Plans_Compone
Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Pension Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | $1 | $1 |
Interest cost | 7 | 8 |
Expected return on plan assets | -14 | -13 |
Amortization of transition obligation, prior service credit, and net actuarial loss (gain) | 2 | 2 |
Net periodic benefit gain | -4 | -2 |
Other Postretirement Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 0 | 0 |
Interest cost | 2 | 3 |
Expected return on plan assets | 0 | -1 |
Amortization of transition obligation, prior service credit, and net actuarial loss (gain) | -3 | -3 |
Net periodic benefit gain | ($1) | ($1) |
Employee_Benefit_Plans_Schedul2
Employee Benefit Plans - Schedule of Changes Recognized in Other Comprehensive Income (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Pension Benefits [Member] | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment [Line Items] | ' | ' |
Net actuarial gain (loss) | $22 | ($4) |
Prior service cost | 0 | 0 |
Reclassification adjustments for amounts recognized in net periodic benefit cost | 2 | 2 |
Total gain (loss) recognized in other comprehensive income | 24 | -2 |
Other Postretirement Benefits [Member] | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment [Line Items] | ' | ' |
Net actuarial gain (loss) | 13 | 2 |
Prior service cost | 0 | -3 |
Reclassification adjustments for amounts recognized in net periodic benefit cost | -3 | -3 |
Total gain (loss) recognized in other comprehensive income | $10 | ($4) |
Employee_Benefit_Plans_Schedul3
Employee Benefit Plans - Schedule of Pre-Tax Amounts Recognized in Accumulated Other Comprehensive Income (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Pension Benefits [Member] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Prior service credit | $0 | $0 |
Net actuarial gain (loss) | -52 | -76 |
Accumulated other comprehensive (loss) income | -52 | -76 |
Other Postretirement Benefits [Member] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Prior service credit | -1 | 2 |
Net actuarial gain (loss) | 14 | 2 |
Accumulated other comprehensive (loss) income | $13 | $4 |
Employee_Benefit_Plans_Schedul4
Employee Benefit Plans - Schedule of Pre-Tax Amounts in Accumulated Other Comprehensive Income That are Expected to be Recognized of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Defined Pension Benefits [Member] | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Prior service credit | $0 |
Net actuarial gain (loss) | -1 |
Net gain (loss) | -1 |
Other Postretirement Benefits [Member] | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Prior service credit | 1 |
Net actuarial gain (loss) | 2 |
Net gain (loss) | $3 |
Employee_Benefit_Plans_Schedul5
Employee Benefit Plans - Schedule of Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Cost (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Pension Benefits [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Line Items] | ' | ' |
Assumptions for benefit obligations at measurement date, Discount rate | 4.60% | 3.70% |
Assumptions for periodic benefit cost for the year ended, Discount rate | 3.70% | 4.50% |
Assumptions for periodic benefit cost for the year ended, Expected long-term rate of return on plan assets | 6.50% | 6.50% |
Other Postretirement Benefits [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Line Items] | ' | ' |
Assumptions for benefit obligations at measurement date, Discount rate | 4.60% | 3.70% |
Assumptions for periodic benefit cost for the year ended, Discount rate | 3.70% | 4.50% |
Assumptions for periodic benefit cost for the year ended, Expected long-term rate of return on plan assets | 6.50% | 6.50% |
Assumptions for year-end valuations, Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.50% | 4.50% |
Assumptions for year-end valuations, Year the rate reaches the ultimate trend rate | '2028 | '2028 |
Other Postretirement Benefits [Member] | Pre-age 65 [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Line Items] | ' | ' |
Age 65 | 7.50% | 7.70% |
Other Postretirement Benefits [Member] | Post-age 65 [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Line Items] | ' | ' |
Age 65 | 7.70% | 8.00% |
Employee_Benefit_Plans_Schedul6
Employee Benefit Plans - Schedule of Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Effect of one percentage point increase on accumulated postretirement benefit obligation | $6 | $7 |
Effect of one percentage point decrease on accumulated postretirement benefit obligation | -5 | -6 |
Effect of one percentage point increase on service and interest cost components | 0 | -1 |
Effect of one percentage point decrease on service and interest cost components | $0 | $0 |
Employee_Benefit_Plans_Schedul7
Employee Benefit Plans - Schedule of Allocations of Plan Assets (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Common collective trusts | 63.00% | 59.00% |
Money market fund | 0.00% | 1.00% |
Corporate bonds (S&P rating of A or higher) | 6.00% | 6.00% |
Corporate bonds (S&P rating of lower than A) | 10.00% | 11.00% |
Government securities | 14.00% | 17.00% |
Mortgage backed securities | 6.00% | 6.00% |
Municipal bonds | 1.00% | 0.00% |
Total | 100.00% | 100.00% |
Employee_Benefit_Plans_Schedul8
Employee Benefit Plans - Schedule of Fair Value of Plan Assets Measured on a Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | $237 | $231 |
Common Collective Trusts [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 150 | 136 |
Money Market Fund [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 1 |
Corporate Bonds (S&P Rating of A or Higher) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 15 | 14 |
Corporate Bonds (S&P Rating of Lower Than A) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 24 | 26 |
Government Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 33 | 39 |
Mortgage-Backed Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 14 | 14 |
Municipal Bonds [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 1 | 1 |
Level 1 [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Common Collective Trusts [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Money Market Fund [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Corporate Bonds (S&P Rating of A or Higher) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Corporate Bonds (S&P Rating of Lower Than A) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Government Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 1 [Member] | Municipal Bonds [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 2 [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 237 | 231 |
Level 2 [Member] | Common Collective Trusts [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 150 | 136 |
Level 2 [Member] | Money Market Fund [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 1 |
Level 2 [Member] | Corporate Bonds (S&P Rating of A or Higher) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 15 | 14 |
Level 2 [Member] | Corporate Bonds (S&P Rating of Lower Than A) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 24 | 26 |
Level 2 [Member] | Government Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 33 | 39 |
Level 2 [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 14 | 14 |
Level 2 [Member] | Municipal Bonds [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 1 | 1 |
Level 3 [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Common Collective Trusts [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Money Market Fund [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Corporate Bonds (S&P Rating of A or Higher) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Corporate Bonds (S&P Rating of Lower Than A) [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Government Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | 0 | 0 |
Level 3 [Member] | Municipal Bonds [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Line Items] | ' | ' |
Assets at Fair Value | $0 | $0 |
Employee_Benefit_Plans_Schedul9
Employee Benefit Plans - Schedule of Expected Future Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Defined Pension Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $12 |
2015 | 12 |
2016 | 12 |
2017 | 11 |
2018 | 11 |
2019 - 2023 | 56 |
Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | 2 |
2015 | 4 |
2016 | 4 |
2017 | 4 |
2018 | 4 |
2019 - 2023 | $17 |
Income_Taxes_Schedule_of_Signi
Income Taxes - Schedule of Significant Components of Provision for Income Taxes Attributable to Continuing Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current income tax provision, Federal taxes | $1,360 | $1,401 | $721 |
Current income tax provision, State taxes | 194 | 154 | 89 |
Current income tax provision, International taxes | 115 | 44 | 33 |
Total current provision (benefit) | 1,669 | 1,599 | 843 |
Deferred income tax provision, Federal taxes | 305 | -232 | 594 |
Deferred income tax provision, State taxes | 47 | -84 | -88 |
Deferred income tax provision, International taxes | 4 | 18 | -15 |
Total deferred provision (benefit) | 356 | -298 | 491 |
Total income tax provision | $2,025 | $1,301 | $1,334 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Line Items] | ' | ' | ' |
Pre-tax earnings from foreign operations | $459,000,000 | $296,000,000 | $28,000,000 |
Income tax benefits allocated directly to reduce goodwill from acquisitions | 1,000,000 | 620,000,000 | 3,000,000 |
Reduction in income tax expense due to resolution of certain tax issues and audits for prior years | 3,000,000 | 7,000,000 | 50,000,000 |
Increase in valuation allowance to adjust tax benefit of certain state deferred tax assets and net operating loss carryforwards | 16,000,000 | ' | ' |
Accrued interest and penalties expense (benefit) related to income taxes included in income tax expense | -13,000,000 | 3,000,000 | -39,000,000 |
Income taxes and foreign withholding taxes have not been provided | 1,300,000,000 | ' | ' |
U.S. income taxes of previously acquired thrift bad debt reserves | 287,000,000 | ' | ' |
Income taxes, amount | 109,000,000 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 252,000,000 | ' | ' |
Net operating loss carryforwards, expiration year, beginning | '2018 | ' | ' |
Net operating loss carryforwards, expiration year, ending | '2032 | ' | ' |
Maximum operating loss that can be utilized against future income | 317,000,000 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 144,000,000 | ' | ' |
Net operating loss carryforwards, expiration year, beginning | '2014 | ' | ' |
Net operating loss carryforwards, expiration year, ending | '2033 | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Tax credit carryforward | 16,000,000 | ' | ' |
Tax credit carryforward, expiration year | 31-Dec-19 | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Aggregate amount of tax refund | $155,000,000 | ' | ' |
Income tax examination, years | '2009 and 2010 | ' | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes - Schedule of Income Tax Provision (Benefit) Reported in Stockholders' Equity (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Foreign currency translation gains (losses) | $5 | $3 | ($1) |
Net unrealized gains (losses) on securities available for sale | -364 | 256 | -41 |
Net unrealized gains (losses) on securities transfered to held to maturity | -538 | 0 | 0 |
Net unrealized gains (losses) on cash flow hedge instruments | -95 | 47 | 18 |
Employee stock plans | -10 | 15 | -19 |
Other | 19 | 0 | -7 |
Total income tax provision (benefit) | ($983) | $321 | ($50) |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income tax at U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal benefit | 2.10% | 1.90% | 1.40% |
Resolution of federal income tax issues and audits | 0.00% | -0.20% | -1.10% |
Low-income housing, New Markets, and other tax credits | -4.70% | -5.00% | -4.30% |
Other foreign tax differences, net | -0.60% | -0.70% | -0.10% |
Nontaxable bargain purchase gain | 0.00% | -4.10% | 0.00% |
Other, net | -0.20% | -1.10% | -1.80% |
Income tax effective tax rate | 31.60% | 25.80% | 29.10% |
Income_Taxes_Schedule_of_Signi1
Income Taxes - Schedule of Significant Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for loan and lease losses | $1,583 | $1,876 |
Security and loan valuations | 1,296 | 502 |
Rewards programs | 855 | 755 |
Representation and warranty reserve | 444 | 343 |
Deferred compensation and employee benefits | 304 | 350 |
Net operating loss and tax credit carryforwards | 248 | 362 |
Net unrealized losses on derivatives | 167 | 77 |
Unearned income | 87 | 116 |
Other assets | 259 | 293 |
Other foreign deferred taxes | 7 | 22 |
Subtotal | 5,250 | 4,696 |
Valuation allowance | -139 | -123 |
Total deferred tax assets | 5,111 | 4,573 |
Deferred tax liabilities: | ' | ' |
Original issue discount | 893 | 958 |
Fixed assets and leases | 173 | 184 |
Goodwill and other intangibles | 10 | 237 |
Other liabilities | 369 | 256 |
Total deferred tax liabilities | 1,445 | 1,635 |
Net deferred tax assets | $3,666 | $2,938 |
Income_Taxes_Schedule_of_Defer
Income Taxes - Schedule of Deferred Tax Liability for Original Issue Discount (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
OID-late fees | $1,024 | $1,225 |
OID-all other | 1,402 | 1,377 |
Gross original issue discount | 2,426 | 2,602 |
Net deferred tax liability | $893 | $958 |
Income_Taxes_Schedule_of_Recon
Income Taxes - Schedule of Reconciliation of Change in Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Gross Unrecognized Tax Benefits [Member] | ' | ' |
Income Tax Contingency [Line Items] | ' | ' |
Beginning balance | $208 | $213 |
Additions for tax positions related to the current year | ' | 0 |
Additions for tax positions related to prior years | 15 | 51 |
Reductions for tax positions related to prior years due to IRS and other settlements | -109 | -56 |
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 |
Other reductions for tax positions related to prior years | 0 | 0 |
Ending balance | 114 | 208 |
Portion of balance at December 31, that, if recognized, would impact the effective income tax rate | 78 | ' |
Accrued Interest and Penalties [Member] | ' | ' |
Income Tax Contingency [Line Items] | ' | ' |
Beginning balance | 54 | 60 |
Additions for tax positions related to the current year | ' | 0 |
Additions for tax positions related to prior years | 7 | 9 |
Reductions for tax positions related to prior years due to IRS and other settlements | -22 | -15 |
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 |
Other reductions for tax positions related to prior years | 0 | 0 |
Ending balance | 39 | 54 |
Portion of balance at December 31, that, if recognized, would impact the effective income tax rate | 25 | ' |
Gross Tax, Interest and Penalties [Member] | ' | ' |
Income Tax Contingency [Line Items] | ' | ' |
Beginning balance | 262 | 273 |
Additions for tax positions related to the current year | ' | 0 |
Additions for tax positions related to prior years | 22 | 60 |
Reductions for tax positions related to prior years due to IRS and other settlements | -131 | -71 |
Additions for tax positions related to acquired entities in prior years, offset to goodwill | 0 | 0 |
Other reductions for tax positions related to prior years | 0 | 0 |
Ending balance | 153 | 262 |
Portion of balance at December 31, that, if recognized, would impact the effective income tax rate | $103 | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Securities available for sale | ' | ' |
Securities available for sale | $41,800 | $63,979 |
Other assets | ' | ' |
Consumer MSRs | 205 | 55 |
Derivative assets | 959 | 1,848 |
Retained interests in securitizations | 199 | 204 |
Total assets | 43,031 | 66,086 |
Other liabilities: | ' | ' |
Derivative liabilities | 710 | 400 |
Total liabilities | 710 | 400 |
Consumer Banking [Member] | ' | ' |
Other assets | ' | ' |
Consumer MSRs | 73 | 55 |
U.S. Treasury Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 833 | 1,552 |
U.S. Agency Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 1 | 302 |
Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 1,234 | 1,012 |
RMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 25,079 | 43,873 |
CMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 6,006 | 7,629 |
Other ABS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 7,136 | 8,458 |
Other Securities [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 1,511 | 1,153 |
Level 1 [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 960 | 1,697 |
Other assets | ' | ' |
Derivative assets | 3 | 1 |
Retained interests in securitizations | 0 | 0 |
Total assets | 963 | 1,698 |
Other liabilities: | ' | ' |
Derivative liabilities | 4 | 1 |
Total liabilities | 4 | 1 |
Level 1 [Member] | Consumer Banking [Member] | ' | ' |
Other assets | ' | ' |
Consumer MSRs | 0 | 0 |
Level 1 [Member] | U.S. Treasury Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 833 | 1,552 |
Level 1 [Member] | U.S. Agency Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 1 [Member] | Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 1 [Member] | RMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 1 [Member] | CMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 1 [Member] | Other ABS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 1 [Member] | Other Securities [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 127 | 145 |
Level 2 [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 37,510 | 59,593 |
Other assets | ' | ' |
Derivative assets | 906 | 1,757 |
Retained interests in securitizations | 0 | 0 |
Total assets | 38,420 | 61,350 |
Other liabilities: | ' | ' |
Derivative liabilities | 668 | 361 |
Total liabilities | 668 | 361 |
Level 2 [Member] | Consumer Banking [Member] | ' | ' |
Other assets | ' | ' |
Consumer MSRs | 4 | 0 |
Level 2 [Member] | U.S. Treasury Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 2 [Member] | U.S. Agency Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 1 | 302 |
Level 2 [Member] | Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 307 | 362 |
Level 2 [Member] | RMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 23,775 | 42,538 |
Level 2 [Member] | CMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 5,267 | 7,042 |
Level 2 [Member] | Other ABS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 6,793 | 8,356 |
Level 2 [Member] | Other Securities [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 1,367 | 993 |
Level 3 [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 3,330 | 2,689 |
Other assets | ' | ' |
Derivative assets | 50 | 90 |
Retained interests in securitizations | 199 | 204 |
Total assets | 3,648 | 3,038 |
Other liabilities: | ' | ' |
Derivative liabilities | 38 | 38 |
Total liabilities | 38 | 38 |
Level 3 [Member] | Consumer Banking [Member] | ' | ' |
Other assets | ' | ' |
Consumer MSRs | 69 | 55 |
Level 3 [Member] | U.S. Treasury Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 3 [Member] | U.S. Agency Debt Obligations [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 0 | 0 |
Level 3 [Member] | Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 927 | 650 |
Level 3 [Member] | RMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 1,304 | 1,335 |
Level 3 [Member] | CMBS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 739 | 587 |
Level 3 [Member] | Other ABS [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | 343 | 102 |
Level 3 [Member] | Other Securities [Member] | ' | ' |
Securities available for sale | ' | ' |
Securities available for sale | $17 | $15 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Cumulative credit risk valuation adjustment related to derivative positions | $1 | $9 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Schedule of Level 3 Inputs Reconciliation for Assets and Liabilities (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Corporate Debt Securities Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | $650 | $0 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 0 | 0 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | -39 | 6 |
Purchases | 272 | 276 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | -67 | -8 |
Transfers Into Level 3 | 156 | 376 |
Transfers Out of Level 3 | -45 | 0 |
Ending balance | 927 | 650 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 0 |
RMBS [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 1,335 | 195 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | -16 | -10 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 203 | 157 |
Purchases | 287 | 2,549 |
Sales | 0 | -640 |
Issuances | 0 | 0 |
Settlements | -239 | -280 |
Transfers Into Level 3 | 794 | 630 |
Transfers Out of Level 3 | -1,060 | -1,266 |
Ending balance | 1,304 | 1,335 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | -20 | -10 |
CMBS [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 587 | 274 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 0 | 5 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | -57 | 20 |
Purchases | 1,085 | 1,102 |
Sales | -10 | -76 |
Issuances | 0 | 0 |
Settlements | 11 | -30 |
Transfers Into Level 3 | 284 | 70 |
Transfers Out of Level 3 | -1,161 | -778 |
Ending balance | 739 | 587 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 5 |
Other ABS [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 102 | 32 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | -1 | 0 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 14 | 23 |
Purchases | 279 | 384 |
Sales | -56 | 0 |
Issuances | 0 | 0 |
Settlements | -2 | -4 |
Transfers Into Level 3 | 103 | 261 |
Transfers Out of Level 3 | -96 | -594 |
Ending balance | 343 | 102 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | -1 | 0 |
Other Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 15 | 12 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 0 | 0 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 0 | 0 |
Purchases | 32 | 0 |
Sales | -23 | 0 |
Issuances | 0 | 0 |
Settlements | -7 | -5 |
Transfers Into Level 3 | 1 | 17 |
Transfers Out of Level 3 | -1 | -9 |
Ending balance | 17 | 15 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 0 | 0 |
Securities Available for Sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 2,689 | 513 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | -17 | -5 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 121 | 206 |
Purchases | 1,955 | 4,311 |
Sales | -89 | -716 |
Issuances | 0 | 0 |
Settlements | -304 | -327 |
Transfers Into Level 3 | 1,338 | 1,354 |
Transfers Out of Level 3 | -2,363 | -2,647 |
Ending balance | 3,330 | 2,689 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | -21 | -5 |
Consumer MSRs [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 55 | 93 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 34 | -39 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 0 | 0 |
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 13 | 11 |
Settlements | -7 | -10 |
Transfers Into Level 3 | 0 | 0 |
Transfers Out of Level 3 | -26 | 0 |
Ending balance | 69 | 55 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | 18 | -39 |
Derivative Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 90 | 103 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | -22 | 58 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 0 | 0 |
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 10 | 13 |
Settlements | -19 | -88 |
Transfers Into Level 3 | 0 | 13 |
Transfers Out of Level 3 | -9 | -9 |
Ending balance | 50 | 90 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | -22 | 58 |
Retained Interest in Securitizations [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 204 | 145 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | -5 | 59 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 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 | 199 | 204 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | -5 | 59 |
Derivative Liabilities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 38 | 279 |
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income | 14 | 12 |
Total Gains or (Losses) (Realized/Unrealized), Included in Other Comprehensive Income | 0 | 0 |
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 14 | 33 |
Settlements | -28 | -274 |
Transfers Into Level 3 | 1 | -8 |
Transfers Out of Level 3 | -1 | -4 |
Ending balance | 38 | 38 |
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held | $14 | $12 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | $43,031 | $66,086 |
Consumer MSRs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 69 | 55 |
Consumer MSRs [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Servicing cost | 81.39 | 81 |
Consumer MSRs [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Servicing cost | 393.52 | 864 |
Consumer MSRs [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Servicing cost | 89.32 | 302 |
Retained Interest in Securitizations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 199 | 204 |
Retained Interest in Securitizations [Member] | Minimum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Life of receivables (months) | '34 months | '29 months |
Constant prepayment rate | 1.91% | 1.25% |
Discount rate | 4.54% | 2.90% |
Default rate | 1.79% | ' |
Loss severity | 14.71% | ' |
Retained Interest in Securitizations [Member] | Maximum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Life of receivables (months) | '101 months | '243 months |
Constant prepayment rate | 7.24% | 22.21% |
Discount rate | 13.57% | 13.57% |
Default rate | 7.07% | ' |
Loss severity | 88.69% | ' |
RMBS [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 1,304 | 1,335 |
RMBS [Member] | Minimum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 0.00% | 0.00% |
Constant prepayment rate | 0.00% | 0.00% |
Default rate | 0.00% | 0.00% |
Loss severity | 0.00% | 4.00% |
RMBS [Member] | Maximum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 23.00% | 24.00% |
Constant prepayment rate | 21.00% | 26.00% |
Default rate | 18.00% | 21.00% |
Loss severity | 95.00% | 75.00% |
RMBS [Member] | Weighted Average [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 5.00% | 5.00% |
Constant prepayment rate | 5.00% | 6.00% |
Default rate | 8.00% | 9.00% |
Loss severity | 49.00% | 52.00% |
CMBS [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 739 | 587 |
CMBS [Member] | Minimum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 1.00% | 1.00% |
Constant prepayment rate | 0.00% | 0.00% |
CMBS [Member] | Maximum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 4.00% | 3.00% |
Constant prepayment rate | 20.00% | 15.00% |
CMBS [Member] | Weighted Average [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 2.00% | 2.00% |
Constant prepayment rate | 3.00% | 11.00% |
Other ABS [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 343 | 102 |
Other ABS [Member] | Minimum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 1.00% | 1.00% |
Constant prepayment rate | 1.00% | 0.00% |
Default rate | 1.00% | 1.00% |
Loss severity | 44.00% | 46.00% |
Other ABS [Member] | Maximum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 8.00% | 24.00% |
Constant prepayment rate | 6.00% | 5.00% |
Default rate | 19.00% | 28.00% |
Loss severity | 80.00% | 88.00% |
Other ABS [Member] | Weighted Average [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 3.00% | 4.00% |
Constant prepayment rate | 2.00% | 2.00% |
Default rate | 12.00% | 15.00% |
Loss severity | 69.00% | 72.00% |
U.S. Government Guaranteed Debt and Other Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 944 | 665 |
U.S. Government Guaranteed Debt and Other Securities [Member] | Minimum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 0.00% | 1.00% |
U.S. Government Guaranteed Debt and Other Securities [Member] | Maximum [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 3.00% | 4.00% |
U.S. Government Guaranteed Debt and Other Securities [Member] | Weighted Average [Member] | Discounted Cash Flows (3rd Party Pricing) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Yield | 2.00% | 2.00% |
Consumer MSRs [Member] | Minimum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total prepayment rate | 9.03% | 11.77% |
Discount rate | 9.94% | 9.95% |
Consumer MSRs [Member] | Maximum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total prepayment rate | 32.05% | 32.99% |
Discount rate | 17.07% | 37.88% |
Consumer MSRs [Member] | Weighted Average [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total prepayment rate | 14.47% | 19.37% |
Discount rate | 10.58% | 12.66% |
Derivative Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets | 50 | 90 |
Derivative Assets [Member] | Minimum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Swap rate | 2.99% | 1.82% |
Derivative Assets [Member] | Maximum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Swap rate | 3.70% | 2.58% |
Derivative Assets [Member] | Weighted Average [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Swap rate | 3.57% | 2.46% |
Derivative Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Liabilities | $38 | $38 |
Derivative Liabilities [Member] | Minimum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Swap rate | 3.01% | 1.82% |
Derivative Liabilities [Member] | Maximum [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Swap rate | 3.67% | 2.55% |
Derivative Liabilities [Member] | Weighted Average [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Swap rate | 3.57% | 2.42% |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other assets | $16,614 | $17,325 |
Level 3 [Member] | Foreclosed Property [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other assets | 113 | 204 |
Level 3 [Member] | Repossessed Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other assets | $160 | $109 |
Fair_Value_of_Financial_Instru7
Fair Value of Financial Instruments - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | ($1) | $0 |
Loans held for investment | -28 | -50 |
Other assets | -23 | -31 |
Total | -52 | -81 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 0 | 0 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 219 | 201 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 0 | 0 |
Assets at Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 145 | 201 |
Loans held for investment | 84 | 162 |
Other assets | 64 | 109 |
Total | 293 | 472 |
Assets at Fair Value [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 0 | 0 |
Loans held for investment | 0 | 0 |
Other assets | 0 | 0 |
Total | 0 | 0 |
Assets at Fair Value [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 145 | 201 |
Loans held for investment | 0 | 0 |
Other assets | 0 | 0 |
Total | 145 | 201 |
Assets at Fair Value [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 0 | 0 |
Loans held for investment | 84 | 162 |
Other assets | 64 | 109 |
Total | $148 | $271 |
Loans Held for Investment [Member] | Non-Recoverable Rate [Member] | Appraisal Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Range, Weighted Average | 13.00% | 13.00% |
Minimum [Member] | Loans Held for Investment [Member] | Non-Recoverable Rate [Member] | Appraisal Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Range, Weighted Average | 0.00% | 0.00% |
Maximum [Member] | Loans Held for Investment [Member] | Non-Recoverable Rate [Member] | Appraisal Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Range, Weighted Average | 42.00% | 100.00% |
Fair_Value_of_Financial_Instru8
Fair Value of Financial Instruments - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Foreclosed property | $42 | $50 |
Long-lived assets held for sale | $22 | $59 |
Fair_Value_of_Financial_Instru9
Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial assets: | ' | ' |
Securities available for sale | $41,800 | $63,979 |
Securities held to maturity | 19,185 | 9 |
Derivative assets | 959 | 1,848 |
Retained interests in securitizations | 199 | 204 |
Financial liabilities: | ' | ' |
Derivative liabilities | 710 | 400 |
Carrying Amount [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 6,291 | 11,058 |
Restricted cash for securitization investors | 874 | 428 |
Securities available for sale | 41,800 | 63,979 |
Securities held to maturity | 19,132 | 9 |
Net loans held for investment | 192,884 | 200,733 |
Loans held for sale | 218 | 201 |
Interest receivable | 1,418 | 1,694 |
Consumer and commercial MSRs | 205 | 55 |
Derivative assets | 959 | 1,848 |
Retained interests in securitizations | 199 | 204 |
Financial liabilities: | ' | ' |
Non-interest bearing deposits | 22,643 | 22,467 |
Interest-bearing deposits | 181,880 | 190,018 |
Securitized debt obligations | 10,289 | 11,398 |
Senior and subordinated notes | 13,134 | 12,686 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 |
Other borrowings | 16,316 | 24,578 |
Interest payable | 307 | 450 |
Derivative liabilities | 710 | 400 |
Other liabilities | 18 | 4 |
Estimated Fair Value [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 6,291 | 11,058 |
Restricted cash for securitization investors | 874 | 428 |
Securities available for sale | 41,800 | 63,979 |
Securities held to maturity | 19,185 | 9 |
Net loans held for investment | 198,138 | 205,000 |
Loans held for sale | 219 | 201 |
Interest receivable | 1,418 | 1,694 |
Consumer and commercial MSRs | 209 | 55 |
Derivative assets | 959 | 1,848 |
Retained interests in securitizations | 199 | 204 |
Financial liabilities: | ' | ' |
Non-interest bearing deposits | 22,643 | 22,467 |
Interest-bearing deposits | 175,516 | 189,423 |
Securitized debt obligations | 11,081 | 11,590 |
Senior and subordinated notes | 13,715 | 13,312 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 |
Other borrowings | 16,324 | 24,616 |
Interest payable | 307 | 450 |
Derivative liabilities | 710 | 400 |
Other liabilities | 18 | 4 |
Level 1 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 6,291 | 11,058 |
Restricted cash for securitization investors | 874 | 428 |
Securities available for sale | 960 | 1,697 |
Securities held to maturity | 0 | 0 |
Net loans held for investment | 0 | 0 |
Loans held for sale | 0 | 0 |
Interest receivable | 0 | 0 |
Consumer and commercial MSRs | 0 | 0 |
Derivative assets | 3 | 1 |
Retained interests in securitizations | 0 | 0 |
Financial liabilities: | ' | ' |
Non-interest bearing deposits | 22,643 | 22,467 |
Interest-bearing deposits | 0 | 0 |
Securitized debt obligations | 0 | 0 |
Senior and subordinated notes | 0 | 0 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 915 | 1,248 |
Other borrowings | 0 | 346 |
Interest payable | 0 | 0 |
Derivative liabilities | 4 | 1 |
Other liabilities | 0 | 0 |
Level 2 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 0 | 0 |
Restricted cash for securitization investors | 0 | 0 |
Securities available for sale | 37,510 | 59,593 |
Securities held to maturity | 18,895 | 9 |
Net loans held for investment | 0 | 0 |
Loans held for sale | 219 | 201 |
Interest receivable | 1,418 | 1,694 |
Consumer and commercial MSRs | 4 | 0 |
Derivative assets | 906 | 1,757 |
Retained interests in securitizations | 0 | 0 |
Financial liabilities: | ' | ' |
Non-interest bearing deposits | 0 | 0 |
Interest-bearing deposits | 14,346 | 22,216 |
Securitized debt obligations | 10,835 | 11,252 |
Senior and subordinated notes | 13,715 | 13,312 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 0 | 0 |
Other borrowings | 16,324 | 24,215 |
Interest payable | 307 | 450 |
Derivative liabilities | 668 | 361 |
Other liabilities | 0 | 0 |
Level 3 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 0 | 0 |
Restricted cash for securitization investors | 0 | 0 |
Securities available for sale | 3,330 | 2,689 |
Securities held to maturity | 290 | 0 |
Net loans held for investment | 198,138 | 205,000 |
Loans held for sale | 0 | 0 |
Interest receivable | 0 | 0 |
Consumer and commercial MSRs | 205 | 55 |
Derivative assets | 50 | 90 |
Retained interests in securitizations | 199 | 204 |
Financial liabilities: | ' | ' |
Non-interest bearing deposits | 0 | 0 |
Interest-bearing deposits | 161,170 | 167,207 |
Securitized debt obligations | 246 | 338 |
Senior and subordinated notes | 0 | 0 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 55 |
Interest payable | 0 | 0 |
Derivative liabilities | 38 | 38 |
Other liabilities | $18 | $4 |
Business_Segments_Additional_i
Business Segments - Additional information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Product_Category | Product_Category | Product_Category | |
Segment | |||
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of operating segments | 3 | ' | ' |
Number of product categories within commercial banking business | 3 | 3 | 4 |
Commercial Banking [Member] | Minimum [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net revenue | 10 | ' | ' |
Commercial Banking [Member] | Maximum [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total net revenue | 1,000 | ' | ' |
Business_Segments_Schedule_of_
Business Segments - Schedule of Business Segments (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | $18,106 | $16,589 | $12,741 |
Non-interest income | 4,278 | 4,807 | 3,538 |
Total net revenue | 22,384 | 21,396 | 16,279 |
Provision for credit losses | 3,453 | 4,415 | 2,360 |
PCCR intangible amortization | 434 | 350 | 21 |
Core deposit intangible amortization | 165 | 193 | 172 |
Total PCCR and core deposit intangible amortization | 599 | 543 | 193 |
Other non-interest expense | 11,915 | 11,403 | 9,139 |
Total non-interest expense | 12,514 | 11,946 | 9,332 |
Income from continuing operations before income taxes | 6,417 | 5,035 | 4,587 |
Income tax provision (benefit) | 2,025 | 1,301 | 1,334 |
Income (loss) from continuing operations, net of tax | 4,392 | 3,734 | 3,253 |
Period-end total loans held for investment | 197,199 | 205,889 | 135,892 |
Period-end total customer deposits | 204,523 | 212,485 | 128,226 |
Credit Card [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 10,967 | 10,182 | 7,822 |
Non-interest income | 3,320 | 3,078 | 2,609 |
Total net revenue | 14,287 | 13,260 | 10,431 |
Provision for credit losses | 2,824 | 4,061 | 1,870 |
PCCR intangible amortization | 434 | 350 | 21 |
Core deposit intangible amortization | 0 | 0 | 0 |
Total PCCR and core deposit intangible amortization | 434 | 350 | 21 |
Other non-interest expense | 7,005 | 6,504 | 5,014 |
Total non-interest expense | 7,439 | 6,854 | 5,035 |
Income from continuing operations before income taxes | 4,024 | 2,345 | 3,526 |
Income tax provision (benefit) | 1,409 | 815 | 1,249 |
Income (loss) from continuing operations, net of tax | 2,615 | 1,530 | 2,277 |
Period-end total loans held for investment | 81,305 | 91,755 | 65,075 |
Period-end total customer deposits | 0 | 0 | 0 |
Consumer Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 5,905 | 5,788 | 4,236 |
Non-interest income | 749 | 782 | 720 |
Total net revenue | 6,654 | 6,570 | 4,956 |
Provision for credit losses | 656 | 589 | 452 |
PCCR intangible amortization | 0 | 0 | 0 |
Core deposit intangible amortization | 138 | 159 | 132 |
Total PCCR and core deposit intangible amortization | 138 | 159 | 132 |
Other non-interest expense | 3,607 | 3,712 | 3,112 |
Total non-interest expense | 3,745 | 3,871 | 3,244 |
Income from continuing operations before income taxes | 2,253 | 2,110 | 1,260 |
Income tax provision (benefit) | 802 | 747 | 451 |
Income (loss) from continuing operations, net of tax | 1,451 | 1,363 | 809 |
Period-end total loans held for investment | 70,762 | 75,127 | 36,315 |
Period-end total customer deposits | 167,652 | 172,396 | 88,540 |
Commercial Banking [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | 1,895 | 1,740 | 1,596 |
Non-interest income | 395 | 340 | 283 |
Total net revenue | 2,290 | 2,080 | 1,879 |
Provision for credit losses | -24 | -270 | 31 |
PCCR intangible amortization | 0 | 0 | 0 |
Core deposit intangible amortization | 27 | 34 | 40 |
Total PCCR and core deposit intangible amortization | 27 | 34 | 40 |
Other non-interest expense | 1,092 | 1,025 | 885 |
Total non-interest expense | 1,119 | 1,059 | 925 |
Income from continuing operations before income taxes | 1,195 | 1,291 | 923 |
Income tax provision (benefit) | 426 | 456 | 328 |
Income (loss) from continuing operations, net of tax | 769 | 835 | 595 |
Period-end total loans held for investment | 45,011 | 38,820 | 34,327 |
Period-end total customer deposits | 30,567 | 29,866 | 26,683 |
Other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net interest income | -661 | -1,121 | -913 |
Non-interest income | -186 | 607 | -74 |
Total net revenue | -847 | -514 | -987 |
Provision for credit losses | -3 | 35 | 7 |
PCCR intangible amortization | 0 | 0 | 0 |
Core deposit intangible amortization | 0 | 0 | 0 |
Total PCCR and core deposit intangible amortization | 0 | 0 | 0 |
Other non-interest expense | 211 | 162 | 128 |
Total non-interest expense | 211 | 162 | 128 |
Income from continuing operations before income taxes | -1,055 | -711 | -1,122 |
Income tax provision (benefit) | -612 | -717 | -694 |
Income (loss) from continuing operations, net of tax | -443 | 6 | -428 |
Period-end total loans held for investment | 121 | 187 | 175 |
Period-end total customer deposits | $6,304 | $10,223 | $13,003 |
Commitments_Contingencies_Guar2
Commitments, Contingencies, Guarantees, and Others - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Subsidiary | Minimum [Member] | Maximum [Member] | DBSP Litigation [Member] | RMBS Trusts [Member] | LXS Trusts Litigation [Member] | U.S. Bank Litigation [Member] | GSE's [Member] | GSE's [Member] | GSE's [Member] | Uninsured Securitizations and Other [Member] | Uninsured Securitizations and Other [Member] | Uninsured Securitizations and Other [Member] | Inactive Insured Securitizations [Member] | Private Investors [Member] | Insured Securitizations [Member] | Insured Securitizations [Member] | Insured Securitizations [Member] | Active Insured Securitizations [Member] | ||||
Contracts | ||||||||||||||||||||||
MortgageLoan | ||||||||||||||||||||||
Plaintiff | ||||||||||||||||||||||
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of existing contingent arrangement | ' | ' | $165,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liability for contingent payments related to arrangements | 0 | 165,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum credit exposure | 16,000,000 | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded liability | 15,000,000 | 17,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual amounts of standby letters of credit and commercial letters of credit | 2,000,000,000 | 1,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of outstanding letters of credit | 4,000,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial guarantees expiration year | ' | ' | ' | ' | '2013 | '2025 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair amount of the loss sharing agreement | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional collateral or recourse provisions | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment protection insurance reserve | 139,000,000 | 220,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of subsidiaries acquired that originated residential mortgage loans | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original principal balance of mortgage loans originated and sold to non-affiliates by subsidiaries between 2005 and 2008 | 111,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000,000 | ' | ' | 80,000,000,000 | ' | ' | 4,000,000,000 | ' | 20,000,000,000 | ' | ' | ' |
Percentage of original principal balance covered by bond insurance | 48.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans sold 2005 to 2008 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000,000 |
Original principal balance of mortgage loans originated and sold by subsidiaries between 2005 and 2008 into unknown current ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Original principal balance of mortgage loans originated and sold by subsidiaries between 2005 and 2008 into Uninsured Securitizations | 48,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original principal balance of mortgage loans originated and sold by subsidiaries between 2005 and 2008 to private investors | 22,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,000,000,000 | ' | ' | ' | ' |
Original principal balance of mortgage loans originated and sold by subsidiaries between 2005 and 2008 to various known and unknown investors | 10,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unpaid principal balance | 26,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Active loan losses | 20,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum number of days past due for delinquent loan status | '90 Days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original principal balance of mortgage loans lacking information about the current holders or underlying credit performance | 6,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Open repurchase requests | 2,825,000,000 | 2,419,000,000 | ' | 2,091,000,000 | ' | ' | ' | ' | ' | ' | 89,000,000 | 59,000,000 | 176,000,000 | 1,122,000,000 | 781,000,000 | 672,000,000 | ' | ' | 1,614,000,000 | 1,579,000,000 | 1,243,000,000 | ' |
Original principal balance of mortgage loans originated and sold by subsidiaries between 2005 and 2008 into Active Insured Securitizations | 16,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserve liability | 1,172,000,000 | 899,000,000 | ' | 943,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefit for mortgage representation and warranty losses | 309,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net realized losses | 36,000,000 | 393,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
High end of range of estimated reasonably possible future losses from representation and warranty claims | 2,600,000,000 | 2,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated reasonably possible future losses | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments by defendants to the individual plaintiffs | 6,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis points of certain interchange transactions | 0.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interchange transactions period | 'Eight months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in Visa-related indemnification liabilities | 91,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of indemnification guarantee to Visa | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of mortgage loans in disputed portfolio | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate original principal balance | ' | ' | ' | ' | ' | ' | 353,000,000 | 3,400,000,000 | 915,000,000 | 1,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of contracts pursuant to GreenPoint sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of securities issued by trust | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alleged value equivalent to principal balance of six securitizations | $5,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statute of limitations | 'In January 2014, the court granted GreenPoint's motion to dismiss based on the statute of limitations, ruling that New York's six-year statute of limitations began running no later than the time of the mortgage securitization. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_Contingencies_Guar3
Commitments, Contingencies, Guarantees, and Others - Schedule of Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Billions, unless otherwise specified | ||
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Unpaid Principal Balance | $26 | $32 |
2005 to 2008 Year [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 111 | ' |
2008 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 4 | ' |
2007 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 21 | ' |
2006 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 41 | ' |
2005 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 45 | ' |
GSE's [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Unpaid Principal Balance | 3 | 4 |
GSE's [Member] | 2005 to 2008 Year [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 11 | ' |
GSE's [Member] | 2008 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 1 | ' |
GSE's [Member] | 2007 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 4 | ' |
GSE's [Member] | 2006 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 3 | ' |
GSE's [Member] | 2005 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 3 | ' |
Insured Securitizations [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Unpaid Principal Balance | 5 | 5 |
Insured Securitizations [Member] | 2005 to 2008 Year [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 20 | ' |
Insured Securitizations [Member] | 2008 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 0 | ' |
Insured Securitizations [Member] | 2007 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 2 | ' |
Insured Securitizations [Member] | 2006 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 8 | ' |
Insured Securitizations [Member] | 2005 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 10 | ' |
Uninsured Securitizations and Other [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Unpaid Principal Balance | 18 | 23 |
Uninsured Securitizations and Other [Member] | 2005 to 2008 Year [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 80 | ' |
Uninsured Securitizations and Other [Member] | 2008 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 3 | ' |
Uninsured Securitizations and Other [Member] | 2007 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 15 | ' |
Uninsured Securitizations and Other [Member] | 2006 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | 30 | ' |
Uninsured Securitizations and Other [Member] | 2005 [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Original Unpaid Principal Balance | $32 | ' |
Commitments_Contingencies_Guar4
Commitments, Contingencies, Guarantees, and Others - Schedule of Open Claims in Pipeline (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Open claims, beginning balance | $2,419 | $2,091 |
Gross new demands received | 634 | 846 |
Loans repurchased/made whole | -81 | -374 |
Demands rescinded | -147 | -145 |
Reclassifications | ' | 1 |
Open claims, ending balance | 2,825 | 2,419 |
GSE's [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Open claims, beginning balance | 59 | 176 |
Gross new demands received | 203 | 189 |
Loans repurchased/made whole | -49 | -233 |
Demands rescinded | -124 | -75 |
Reclassifications | ' | 2 |
Open claims, ending balance | 89 | 59 |
Insured Securitizations [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Open claims, beginning balance | 1,579 | 1,243 |
Gross new demands received | 40 | 366 |
Loans repurchased/made whole | -5 | -3 |
Demands rescinded | 0 | -30 |
Reclassifications | ' | 3 |
Open claims, ending balance | 1,614 | 1,579 |
Uninsured Securitizations and Other [Member] | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' |
Open claims, beginning balance | 781 | 672 |
Gross new demands received | 391 | 291 |
Loans repurchased/made whole | -27 | -138 |
Demands rescinded | -23 | -40 |
Reclassifications | ' | -4 |
Open claims, ending balance | $1,122 | $781 |
Commitments_Contingencies_Guar5
Commitments, Contingencies, Guarantees, and Others - Schedule of Open Claims in Pipeline (Parenthetical) (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Commitments And Contingencies Disclosure [Abstract] | ' |
Impact of reclassification | $1 |
Commitments_Contingencies_Guar6
Commitments, Contingencies, Guarantees, and Others - Schedule of Changes in Representation and Warranty Reserves (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Representation and warranty repurchase reserve, beginning of period | $899 | $943 |
Provision for mortgage representation and warranty losses | 309 | 349 |
Net realized losses | -36 | -393 |
Representation and warranty repurchase reserve, end of period | $1,172 | $899 |
Commitments_Contingencies_Guar7
Commitments, Contingencies, Guarantees, and Others - Schedule of Changes in Representation and Warranty Reserves (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Provision for mortgage representation and warranty losses recognized as a component of non-interest income, loss | $24 | ($42) |
Provision for mortgage representation and warranty recognized as a component of discontinued operations | $333 | $307 |
Commitments_Contingencies_Guar8
Commitments, Contingencies, Guarantees, and Others - Schedule of Allocation of Representation and Warranty Reserves (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' |
Reserve liability | $1,172,000,000 | $899,000,000 | $943,000,000 |
GSEs and Active Insured Securitizations [Member] | ' | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' |
Reserve liability | 965,000,000 | 817,000,000 | ' |
Inactive Insured Securitizations and Others [Member] | ' | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' |
Reserve liability | 207,000,000 | 82,000,000 | ' |
2005 to 2008 Year [Member] | ' | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' |
Loans sold 2005 to 2008 | 111,000,000,000 | ' | ' |
2005 to 2008 Year [Member] | GSEs and Active Insured Securitizations [Member] | ' | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' |
Loans sold 2005 to 2008 | 27,000,000,000 | ' | ' |
2005 to 2008 Year [Member] | Inactive Insured Securitizations and Others [Member] | ' | ' | ' |
Commitments, Contingencies And Guarantees [Line Items] | ' | ' | ' |
Loans sold 2005 to 2008 | $84,000,000,000 | ' | ' |
Capital_One_Financial_Corporat2
Capital One Financial Corporation (Parent Company Only) - Parent Company Only Financial Statements - Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | |||||
Assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | $6,291 | ' | $11,058 | $5,838 | $5,249 |
Securities available for sale | 41,800 | ' | 63,979 | ' | ' |
Other | 16,614 | ' | 17,325 | ' | ' |
Total assets | 297,048 | ' | 312,918 | ' | ' |
Liabilities: | ' | ' | ' | ' | ' |
Other borrowings | 16,316 | ' | 24,578 | ' | ' |
Other | 9,820 | ' | 9,574 | ' | ' |
Total liabilities | 255,304 | ' | 272,419 | ' | ' |
Stockholders' equity: | ' | ' | ' | ' | ' |
Preferred stock | 0 | ' | 0 | ' | ' |
Common stock | 6 | ' | 6 | ' | ' |
Additional paid-in-capital, net | 26,526 | ' | 26,188 | ' | ' |
Retained earnings | 20,404 | ' | 16,853 | ' | ' |
Accumulated other comprehensive income | -872 | ' | 739 | 169 | 248 |
Less: Treasury stock, at cost | -4,320 | ' | -3,287 | ' | ' |
Total Stockholders' equity | 41,744 | 41,800 | 40,499 | 29,666 | 26,541 |
Total liabilities and stockholders' equity | 297,048 | ' | 312,918 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 7,185 | ' | 7,342 | 9,351 | 5,482 |
Investment in subsidiaries | 43,430 | ' | 46,605 | ' | ' |
Loans to subsidiaries | 1,487 | ' | 1,335 | ' | ' |
Securities available for sale | 807 | ' | 464 | ' | ' |
Other | 976 | ' | 1,432 | ' | ' |
Total assets | 53,885 | ' | 57,178 | ' | ' |
Liabilities: | ' | ' | ' | ' | ' |
Senior and subordinated notes | 9,458 | ' | 10,116 | ' | ' |
Other borrowings | 1,545 | ' | 5,036 | ' | ' |
Other | 1,138 | ' | 1,527 | ' | ' |
Total liabilities | 12,141 | ' | 16,679 | ' | ' |
Stockholders' equity: | ' | ' | ' | ' | ' |
Preferred stock | 0 | ' | 0 | ' | ' |
Common stock | 6 | ' | 6 | ' | ' |
Additional paid-in-capital, net | 26,526 | ' | 26,188 | ' | ' |
Retained earnings | 20,404 | ' | 16,853 | ' | ' |
Accumulated other comprehensive income | -872 | ' | 739 | ' | ' |
Less: Treasury stock, at cost | -4,320 | ' | -3,287 | ' | ' |
Total Stockholders' equity | 41,744 | ' | 40,499 | ' | ' |
Total liabilities and stockholders' equity | $53,885 | ' | $57,178 | ' | ' |
Capital_One_Financial_Corporat3
Capital One Financial Corporation (Parent Company Only) - Parent Company Only Financial Statements - Statements of Income (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Interest expense | $1,792 | $2,375 | $2,246 |
Non-interest income | 4,278 | 4,807 | 3,538 |
Non-interest expense | 12,514 | 11,946 | 9,332 |
Income from continuing operations before income taxes | 6,417 | 5,035 | 4,587 |
Income tax (benefit) | 2,025 | 1,301 | 1,334 |
Income from continuing operations, net of tax | 4,392 | 3,734 | 3,253 |
Loss from discontinued operations, net of tax | -233 | -217 | -106 |
Net income | 4,159 | 3,517 | 3,147 |
Dividends and undistributed earnings allocated to participating securities | -17 | -15 | -26 |
Preferred stock dividends | -53 | -15 | 0 |
Net income available to common stockholders | 4,089 | 3,487 | 3,121 |
Parent Company [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Interest from temporary investments | 94 | 47 | 26 |
Interest expense | 250 | 574 | 515 |
Dividends, principally from bank subsidiaries | 5,950 | 0 | 1,950 |
Non-interest income | 33 | 697 | 29 |
Non-interest expense | 196 | 173 | 361 |
Income from continuing operations before income taxes | 5,631 | -3 | 1,129 |
Income tax (benefit) | -66 | -168 | -247 |
Equity in undistributed earnings of subsidiaries | -1,305 | 3,569 | 1,877 |
Income from continuing operations, net of tax | 4,392 | 3,734 | 3,253 |
Loss from discontinued operations, net of tax | -233 | -217 | -106 |
Net income | 4,159 | 3,517 | 3,147 |
Dividends and undistributed earnings allocated to participating securities | -17 | -15 | -26 |
Preferred stock dividends | -53 | -15 | 0 |
Net income available to common stockholders | $4,089 | $3,487 | $3,121 |
Capital_One_Financial_Corporat4
Capital One Financial Corporation (Parent Company Only) - Parent Company Only Financial Statements - Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities: | ' | ' | ' |
Net income | $4,159 | $3,517 | $3,147 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Dividends (undistributed earnings) from subsidiaries: Discontinued operations | 233 | 217 | 106 |
Stock plan compensation expense. | 240 | 199 | 189 |
Decrease (increase) in other assets | -245 | -1,033 | -126 |
Increase (decrease) in other liabilities. | 239 | 798 | 1,403 |
Net cash provided by operating activities | 9,984 | 9,524 | 7,455 |
Investing activities: | ' | ' | ' |
Purchase of securities available for sale | -16,062 | -29,257 | -16,060 |
Proceeds from issuance of common stock for acquisition | 0 | -2,638 | 0 |
Net cash used in investing activities | 3,721 | -18,814 | -11,174 |
Financing activities: | ' | ' | ' |
Issuance of senior notes | 2,063 | 2,248 | 2,992 |
Maturities of senior notes | -777 | -632 | -855 |
Dividends paid-common stock | -555 | -111 | -91 |
Dividends paid-preferred stock | -53 | -15 | 0 |
Purchases of treasury stock | -1,033 | -43 | -42 |
Net proceeds from issuances of common stock | 81 | 3,233 | 40 |
Net proceeds from issuances of preferred stock | 0 | 853 | 0 |
Proceeds from stock-based payment activities | 114 | 80 | 57 |
Net cash provided by (used in) financing activities | -18,472 | 14,510 | 4,308 |
(Decrease) increase in cash and cash equivalents | -4,767 | 5,220 | 589 |
Cash and cash equivalents at beginning of the period | 11,058 | 5,838 | 5,249 |
Cash and cash equivalents at end of the period | 6,291 | 11,058 | 5,838 |
Parent Company [Member] | ' | ' | ' |
Operating activities: | ' | ' | ' |
Net income | 4,159 | 3,517 | 3,147 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Dividends (undistributed earnings) from subsidiaries: Continuing operations | 1,305 | -3,569 | -1,877 |
Dividends (undistributed earnings) from subsidiaries: Discontinued operations | 233 | 217 | 106 |
Accretion | -57 | -24 | -2 |
Stock plan compensation expense. | 143 | 112 | 92 |
Decrease (increase) in other assets | -818 | 1 | -65 |
Increase (decrease) in other liabilities. | -388 | -34 | 18 |
Net cash provided by operating activities | 4,577 | 220 | 1,419 |
Investing activities: | ' | ' | ' |
(Increase) decrease in investment in subsidiaries | 787 | -9,709 | -46 |
Proceeds from maturities of securities available for sale | 46 | 24 | 0 |
Purchase of securities available for sale | -287 | -351 | -54 |
(Increase) decrease in loans to subsidiaries | -153 | -997 | -1 |
Proceeds from issuance of common stock for acquisition | 0 | 2,638 | 0 |
Net cash used in investing activities | 393 | -8,395 | -101 |
Financing activities: | ' | ' | ' |
(Decrease) increase in borrowings from subsidiaries | -3,490 | 555 | 450 |
Issuance of senior notes | 849 | 2,246 | 2,992 |
Maturities of senior notes | -1,040 | -632 | -855 |
Dividends paid-common stock | -555 | -111 | -91 |
Dividends paid-preferred stock | -53 | -15 | 0 |
Purchases of treasury stock | -1,033 | -43 | -42 |
Net proceeds from issuances of common stock | 81 | 3,233 | 40 |
Net proceeds from issuances of preferred stock | 0 | 853 | 0 |
Proceeds from stock-based payment activities | 114 | 80 | 57 |
Net cash provided by (used in) financing activities | -5,127 | 6,166 | 2,551 |
(Decrease) increase in cash and cash equivalents | -157 | -2,009 | 3,869 |
Cash and cash equivalents at beginning of the period | 7,342 | 9,351 | 5,482 |
Cash and cash equivalents at end of the period | $7,185 | $7,342 | $9,351 |