XML 50 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Investments (Tables)
 9 Months Ended
Sep. 30, 2020
Investments [Abstract]  
Summary Of Investment Securities
September 30, 2020
(In millions)Amortized
cost		Gross unrealized gainsGross unrealized lossesEstimated
fair value
Held-to-maturity
Municipal securities$592 $4 $— $596 
Available-for-sale
U.S. Treasury securities195 4 — 199 
U.S. Government agencies and corporations:
Agency securities1,058 37 2 1,093 
Agency guaranteed mortgage-backed securities10,461 280 5 10,736 
Small Business Administration loan-backed securities1,277 1 39 1,239 
Municipal securities1,254 66 — 1,320 
Other debt securities75 — — 75 
Total available-for-sale debt securities14,320 388 46 14,662 
Total investment securities$14,912 $392 $46 $15,258 

December 31, 2019
(In millions)Amortized
cost		Gross unrealized gainsGross unrealized lossesEstimated
fair value
Held-to-maturity
Municipal securities$592 $5 $— $597 
Available-for-sale
U.S. Treasury securities25 — — 25 
U.S. Government agencies and corporations:
Agency securities1,301 5 4 1,302 
Agency guaranteed mortgage-backed securities9,518 83 42 9,559 
Small Business Administration loan-backed securities1,535 1 41 1,495 
Municipal securities1,282 37 — 1,319 
Other debt securities25 — — 25 
Total available-for-sale debt securities13,686 126 87 13,725 
Total investment securities$14,278 $131 $87 $14,322 
Contractual Maturities Debt Securities
September 30, 2020
Total debt investment securitiesDue in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years
(Dollar amounts in millions)Amortized costAvg yieldAmortized costAvg yieldAmortized costAvg yieldAmortized costAvg yieldAmortized costAvg yield
Held-to-maturity
Municipal securities 1
$592 3.55 %$158 2.80 %$198 3.69 %$129 3.70 %$107 4.20 %
Available-for-sale
U.S. Treasury securities195 0.99 50 0.14 — — — — 145 1.28 
U.S. Government agencies and corporations:
Agency securities1,058 2.37 — — 151 1.01 392 2.57 515 2.62 
Agency guaranteed mortgage-backed securities10,461 2.05 1 4.40 284 1.49 774 1.79 9,402 2.09 
Small Business Administration loan-backed securities1,277 1.46 — — 33 1.27 146 1.50 1,098 1.46 
Municipal securities 1
1,254 2.51 89 1.78 595 2.34 448 2.77 122 2.97 
Other debt securities75 2.22 — — — — 60 2.03 15 3.00 
Total available-for-sale debt securities14,320 2.05 140 1.21 1,063 1.89 1,820 2.18 11,297 2.05 
Total investment securities$14,912 2.11 %$298 2.05 %$1,261 2.17 %$1,949 2.28 %$11,404 2.07 %
1 The yields on tax-exempt securities are calculated on a tax-equivalent basis.
Summary Of Amount Of Gross Unrealized Losses For Debt Securities And Estimated Fair Value
The following is a summary of the amount of gross unrealized losses for debt securities and the estimated fair value by length of time the securities have been in an unrealized loss position:
September 30, 2020
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Held-to-maturity
Municipal securities$— $55 $— $16 $— $71 
Available-for-sale
U.S. Government agencies and corporations:
Agency securities1 68 1 63 2 131 
Agency guaranteed mortgage-backed securities3 704 2 201 5 905 
Small Business Administration loan-backed securities— 19 39 1,141 39 1,160 
Municipal securities— 54 — — — 54 
Other— 50 — — — 50 
Total available-for-sale4 895 42 1,405 46 2,300 
Total investment securities$4 $950 $42 $1,421 $46 $2,371 
December 31, 2019
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Held-to-maturity
Municipal securities$— $73 $— $45 $— $118 
Available-for-sale
U.S. Government agencies and corporations:
Agency securities2 222 2 359 4 581 
Agency guaranteed mortgage-backed securities4 1,173 38 3,215 42 4,388 
Small Business Administration loan-backed securities1 172 40 1,215 41 1,387 
Municipal securities— 50 — 5 — 55 
Other— — — — — — 
Total available-for-sale7 1,617 80 4,794 87 6,411 
Total investment securities$7 $1,690 $80 $4,839 $87 $6,529 
Debt Securities, Held-to-maturity The amortized cost basis of HTM securities categorized by year of issuance is summarized as follows:
September 30, 2020
Amortized cost basis by year of issuance
(In millions)20202019201820172016PriorTotal Securities
Held-to-maturity$116 $18 $1 $34 $183 $240 $592 
Gains And Losses, Including OTTI, Recognized In Statement Of Income
The following summarizes gains and losses that were recognized in the statement of income:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In millions)Gross gainsGross lossesGross gainsGross lossesGross gainsGross lossesGross gainsGross losses
Other noninterest-bearing investments$5 $1 $2 $— $13 $18 $7 $7 
Net gains (losses) 1
$4 $2 $(5)$— 
1 Net gains (losses) were recognized in securities gains (losses), net in the statement of income.
Interest Income By Security Type
Interest income by security type is as follows:
Three Months Ended September 30,
20202019
(In millions)TaxableNontaxableTotalTaxableNontaxableTotal
Investment securities:
Held-to-maturity$2 $3 $5 $3 $3 $6 
Available-for-sale61 6 67 74 7 81 
Trading— 2 2 — 1 1 
Total securities$63 $11 $74 $77 $11 $88 

Nine Months Ended September 30,
20202019
(In millions)TaxableNontaxableTotalTaxableNontaxableTotal
Investment securities:
Held-to-maturity$7 $8 $15 $7 $11 $18 
Available-for-sale196 19 215 238 19 257 
Trading— 5 5 — 4 4 
Total$203 $32 $235 $245 $34 $279