Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Summary of Preferred Stock

The following schedule summarizes key aspects of our preferred stock:

					Shares at December 31, 2021
(Dollar amounts in millions)	Carrying value at December 31,				Authorized	Outstanding		Dividends payable	Earliest redemption date	Rate following earliest redemption date	Dividends payable after rate change
	2021		2020		(thousands)	(thousands)	Rate
										(when applicable)
Series A	$	67	$	67	140,000	66,139	> of 4.0% or 3mL+0.52%	Qtrly Mar, Jun, Sep, Dec	Dec 15, 2011
Series G	138		138		200,000	138,391	6.3%	Qtrly Mar, Jun, Sep, Dec	Mar 15, 2023	annual float-ing rate = 3mL+4.24%
Series H	—		126		—	—	5.75%	Qtrly Mar, Jun, Sep, Dec	Jun 15, 2019
Series I	99		99		300,893	98,555	5.8%	Semi-annually Jun, Dec	Jun 15, 2023	annual float-ing rate = 3mL+3.8%	Qtrly Mar, Jun, Sep, Dec
Series J	136		136		195,152	136,368	7.2%	Semi-annually Mar, Sep	Sep 15, 2023	annual float-ing rate = 3mL+4.44%	Qtrly Mar, Jun, Sep, Dec
Total	$	440	$	566

Schedule of Changes in Accumulated Other Comprehensive Income

Changes in AOCI by component are as follows:

(In millions)	Net unrealized gains (losses) on investment securities		Net unrealized gains (losses) on derivatives and other		Pension and post-retirement		Total
2021
Balance at December 31, 2020	$	258	$	69	$	(2)	$	325
Other comprehensive loss before reclassifications, net of tax	(336)		(23)		—		(359)
Amounts reclassified from AOCI, net of tax	—		(46)		—		(46)
Other comprehensive loss	(336)		(69)		—		(405)
Balance at December 31, 2021	$	(78)	$	—	$	(2)	$	(80)
Income tax benefit included in other comprehensive loss	$	(109)	$	(22)	$	—	$	(131)
2020
Balance at December 31, 2019	$	29	$	28	$	(14)	$	43
Other comprehensive income (loss) before reclassifications, net of tax	229		77		(9)		297
Amounts reclassified from AOCI, net of tax	—		(36)		21		(15)
Other comprehensive income	229		41		12		282
Balance at December 31, 2020	$	258	$	69	$	(2)	$	325
Income tax expense included in other comprehensive income	$	74	$	13	$	4	$	91

Schedule of Reclassification out of Accumulated Other Comprehensive Income

							Statement of Income (SI)
(In millions)	Amounts reclassified from AOCI 1
Details about AOCI components	2021		2020		2019			Affected line item
Net unrealized gains (losses) on derivative instruments	$	61	$	47	$	(4)	SI	Interest and fees on loans
Income tax expense (benefit)	15		11		(1)
	$	46	$	36	$	(3)
Amortization of net actuarial loss 2	$	—	$	(28)	$	(2)	SI	Other noninterest expense
Income tax benefit	—		(7)		(1)
	$	—	$	(21)	$	(1)

1 Positive reclassification amounts indicate increases to earnings in the statement of income.

2 There was no amortization of net actuarial loss in 2021 due to the termination of pension plan in 2020.