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Available-for-Sale and Held-to-Maturity Securities (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Investments Securities
The amortized cost and fair value of available-for-sale and held-to-maturity securities at June 30, 2017 and December 31, 2016 are shown in the following tables (dollars in millions):
 
Amortized
Cost
 
Gross
Unrealized /
Unrecognized
Gains
 
Gross
Unrealized /
Unrecognized
Losses
 
Fair Value
June 30, 2017:
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
17,542

 
$
60

 
$
(222
)
 
$
17,380

Agency debentures
969

 
33

 
(14
)
 
988

U.S. Treasuries
453

 
6

 
(8
)
 
451

Agency debt securities
34

 
—

 
(1
)
 
33

Municipal bonds
31

 
—

 
—

 
31

Total debt securities
19,029

 
99

 
(245
)
 
18,883

Publicly traded equity securities(1)
7

 
—

 
—

 
7

Total available-for-sale securities
$
19,036

 
$
99

 
$
(245
)
 
$
18,890

Held-to-maturity securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
18,426

 
$
168

 
$
(115
)
 
$
18,479

Agency debentures
291

 
1

 
(1
)
 
291

Agency debt securities
2,778

 
30

 
(20
)
 
2,788

Other non-agency debt securities
7

 
—

 
—

 
7

Total held-to-maturity securities
$
21,502

 
$
199

 
$
(136
)
 
$
21,565

 
 
 
 
 
 
 
 
December 31, 2016:

 
 
 
 
 

Available-for-sale securities:
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
12,946

 
$
24

 
$
(336
)
 
$
12,634

Agency debentures
791

 
18

 
(21
)
 
788

U.S. Treasuries
452

 
—

 
(45
)
 
407

Agency debt securities
25

 
—

 
(1
)
 
24

Municipal bonds
32

 
—

 
—

 
32

Total debt securities
14,246

 
42

 
(403
)
 
13,885

Publicly traded equity securities(1)
7

 
—

 
—

 
7

Total available-for-sale securities
$
14,253

 
$
42

 
$
(403
)
 
$
13,892

Held-to-maturity securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
12,868

 
$
123

 
$
(152
)
 
$
12,839

Agency debentures
29

 
—

 
—

 
29

Agency debt securities
2,854

 
26

 
(32
)
 
2,848

Total held-to-maturity securities
$
15,751

 
$
149

 
$
(184
)
 
$
15,716


(1)
Consists of investments in a mutual fund related to the Community Reinvestment Act.
Investments Classified by Contractual Maturity Date
The contractual maturities of all available-for-sale and held-to-maturity debt securities at June 30, 2017 are shown in the following table (dollars in millions): 
 
Amortized Cost
 
Fair Value
Available-for-sale debt securities:
 
 
 
Due within one year
$
4

 
$
4

Due within one to five years
57

 
56

Due within five to ten years
7,221

 
7,149

Due after ten years
11,747

 
11,674

Total available-for-sale debt securities
$
19,029

 
$
18,883

Held-to-maturity debt securities:
 
 
 
Due within one year
$
209

 
$
210

Due within one to five years
1,786

 
1,829

Due within five to ten years
5,060

 
5,083

Due after ten years
14,447

 
14,443

Total held-to-maturity debt securities
$
21,502

 
$
21,565
Schedule of Unrealized Loss on Investments
The following tables show the fair value and unrealized or unrecognized losses on available-for-sale and held-to-maturity securities, aggregated by investment category, and the length of time that individual securities have been in a continuous unrealized or unrecognized loss position at June 30, 2017 and December 31, 2016 (dollars in millions):
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized /
Unrecognized
Losses
 
Fair Value
 
Unrealized /
Unrecognized
Losses
 
Fair Value
 
Unrealized /
Unrecognized
Losses
June 30, 2017:
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
8,277

 
$
(173
)
 
$
1,813

 
$
(49
)
 
$
10,090

 
$
(222
)
Agency debentures
374

 
(14
)
 
—

 
—

 
374

 
(14
)
U.S. Treasuries
290

 
(8
)
 
—

 
—

 
290

 
(8
)
Agency debt securities
33

 
(1
)
 
—

 
—

 
33

 
(1
)
Municipal bonds
12

 
—

 
—

 
—

 
12

 
—

Publicly traded equity securities
7

 
—

 
—

 
—

 
7

 
—

Total temporarily impaired available-for-sale securities
$
8,993

 
$
(196
)
 
$
1,813

 
$
(49
)
 
$
10,806

 
$
(245
)
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
6,910

 
$
(88
)
 
$
1,148

 
$
(27
)
 
$
8,058

 
$
(115
)
Agency debentures
161

 
(1
)
 
—

 
—

 
161

 
(1
)
Agency debt securities
1,483

 
(20
)
 
17

 
—

 
1,500

 
(20
)
Total temporarily impaired held-to-maturity securities
$
8,554

 
$
(109
)
 
$
1,165

 
$
(27
)
 
$
9,719

 
$
(136
)
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016:

 

 

 

 

 

Available-for-sale securities:
 
 
 
 
 
 
 
 


 


Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
9,281

 
$
(279
)
 
$
1,620

 
$
(57
)
 
$
10,901

 
$
(336
)
Agency debentures
454

 
(21
)
 
—

 
—

 
454

 
(21
)
U.S. Treasuries
407

 
(45
)
 
—

 
—

 
407

 
(45
)
Agency debt securities
24

 
(1
)
 
—

 
—

 
24

 
(1
)
Municipal bonds
13

 
—

 
—

 
—

 
13

 
—

Publicly traded equity securities
7

 
—

 
—

 
—

 
7

 
—

Total temporarily impaired available-for-sale securities
$
10,186

 
$
(346
)
 
$
1,620

 
$
(57
)
 
$
11,806

 
$
(403
)
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities
$
5,929

 
$
(123
)
 
$
1,272

 
$
(29
)
 
$
7,201

 
$
(152
)
Agency debentures
18

 
—

 
—

 
—

 
18

 
—

Agency debt securities
1,739

 
(32
)
 
18

 
—

 
1,757

 
(32
)
Total temporarily impaired held-to-maturity securities
$
7,686

 
$
(155
)
 
$
1,290

 
$
(29
)
 
$
8,976

 
$
(184
)
Gains on Securities and Other, Net
The following table shows the components of the gains on securities and other, net line item on the consolidated statement of income for the three and six months ended June 30, 2017 and 2016 (dollars in millions):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Gains on available-for-sale securities
$
10

 
$
14

 
$
18

 
$
29

Hedge ineffectiveness
(2
)
 
(2
)
 
(3
)
 
(4
)
Equity method investment income (loss) and other
(1
)
 
(2
)
 
2

 
(5
)
Gains on securities and other, net
$
7

 
$
10

 
$
17

 
$
20