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Derivative Instruments and Other Financial Instruments Used For Hedging (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts, Balance Sheet Location and Fair Value Amounts of Derivative Instruments
The table below presents the notional amounts and fair value amounts of the Company's derivative instruments reported on the consolidated balance sheets, segregated between derivative instruments designated and qualifying as hedging instruments and derivative instruments not designated as hedging instruments as of September 30, 2020 and December 31, 2019. Asset and liability values are presented gross, excluding the impact of legally enforceable master netting and credit support annex agreements. The fair value of asset and liability derivatives designated and qualifying as hedging instruments and derivatives designated as other risk management are included in other assets and other liabilities, respectively. The fair value of asset and liability trading derivatives are included in trading account assets and trading account liabilities, respectively.
 
 
September 30, 2020
 
December 31, 2019
 
 
 
 
Fair Value
 
 
 
Fair Value
(Dollars in millions)
 
Notional Amount
 
Asset Derivatives
 
Liability Derivatives
 
Notional Amount
 
Asset Derivatives
 
Liability Derivatives
Derivative instruments
 
 
 
 
 
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
9,509

 
$
—

 
$
1

 
$
13,319

 
$
—

 
$
—

Not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Trading:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
213,698

 
2,151

 
756

 
214,805

 
981

 
446

Commodity contracts
 
4

 
—

 
—

 
9

 
—

 
—

Foreign exchange contracts
 
16,842

 
372

 
157

 
11,219

 
230

 
64

Equity contracts
 
148

 
6

 
7

 
72

 
8

 
8

Other contracts
 
57

 
—

 
—

 
72

 
—

 
—

Total trading
 
230,749

 
2,529

 
920

 
226,177

 
1,219

 
518

Other risk management
 
1,721

 
16

 
8

 
1,948

 
14

 
5

Total derivative instruments
 
$
241,979

 
$
2,545

 
$
929

 
$
241,444

 
$
1,233

 
$
523
Amount and Location of Gains and Losses for Derivatives Designated as Cash Flow Hedges
The following table presents the amount and location of the net gains and losses recorded in the Company’s consolidated statements of income and changes in stockholders' equity for derivative instruments designated as cash flow hedges for the three and nine months ended September 30, 2020 and 2019.
 
 
Gains (Losses) Recognized in OCI
 
 
 
Gains (Losses) Reclassified from AOCI into Income
 
 
For the Three Months Ended September 30,
 
 
 
For the Three Months Ended September 30,
(Dollars in millions)
 
2020
 
2019
 
Location
 
2020
 
2019
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 

 
Interest income
 
$
20

 
$
(27
)
Interest rate contracts
 
$
—

 
$
41

 
Interest expense
 
—

 
—

Total
 
$
—

 
$
41

 
 
 
$
20

 
$
(27
)
 
 
Gains (Losses) Recognized in OCI
 
 
 
Gains (Losses) Reclassified from AOCI into Income
 
 
For the Nine Months Ended September 30,
 
 
 
For the Nine Months Ended September 30,
(Dollars in millions)
 
2020
 
2019
 
Location
 
2020
 
2019
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 

 
Interest income
 
$
9

 
$
(67
)
Interest rate contracts
 
$
477

 
$
110

 
Interest expense
 
—

 
—

Total
 
$
477

 
$
110

 
 
 
$
9

 
$
(67
)
Gain or (Loss) Recognized in Income on Derivative Instruments
The following table presents the amount of the net gains and losses for derivative instruments classified as trading reported in the consolidated statements of income under the heading trading account activities for the three and nine months ended September 30, 2020 and 2019.
 
 
Gains (Losses) Recognized in
Income on Trading Derivatives
 
Gains (Losses) Recognized in
Income on Trading Derivatives
 
 
For the Three Months Ended
 
For the Nine Months Ended
(Dollars in millions)
 
September 30, 2020
 
September 30, 2019
 
September 30, 2020
 
September 30, 2019
Trading derivatives
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
19

 
$
(28
)
 
$
(64
)
 
$
(112
)
Equity contracts
 
(1
)
 
(6
)
 
2

 
1

Foreign exchange contracts
 
13

 
14

 
45

 
38

Total
 
$
31

 
$
(20
)
 
$
(17
)
 
$
(73
)