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Derivative And Credit-Related Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments
The following table presents the composition of the Corporation’s derivative instruments held or issued for risk management purposes or in connection with customer-initiated and other activities at March 31, 2021 and December 31, 2020.
 March 31, 2021December 31, 2020
  Fair Value Fair Value
(in millions)Notional/
Contract
Amount (a)		Gross Derivative AssetsGross Derivative LiabilitiesNotional/
Contract
Amount (a)		Gross Derivative AssetsGross Derivative Liabilities
Risk management purposes
Derivatives designated as hedging instruments
Interest rate contracts:
Swaps - fair value - receive fixed/pay floating
$2,650 $— $— $2,650 $— $— 
Swaps - cash flow - receive fixed/pay floating
5,550 — — 5,550 — — 
Derivatives used as economic hedges
Foreign exchange contracts:
Spot, forwards and swaps390 1 1 442 1 4 
Total risk management purposes8,590 1 1 8,642 1 4 
Customer-initiated and other activities
Interest rate contracts:
Caps and floors written909 — 2 869 — — 
Caps and floors purchased909 2 — 869 — — 
Swaps 19,693 338 63 19,783 531 61 
Total interest rate contracts21,511 340 65 21,521 531 61 
Energy contracts:
Caps and floors written665 1 60 503 1 33 
Caps and floors purchased665 60 1 503 33 1 
Swaps2,873 208 204 2,115 117 115 
Total energy contracts4,203 269 265 3,121 151 149 
Foreign exchange contracts:
Spot, forwards, options and swaps1,429 11 9 1,901 17 15 
Total customer-initiated and other activities27,143 620 339 26,543 699 225 
Total gross derivatives$35,733 $621 $340 $35,185 $700 $229 
Amounts offset in the Consolidated Balance Sheets:
Netting adjustment - Offsetting derivative assets/liabilities
(59)(59)(83)(83)
Netting adjustment - Cash collateral received/posted
(2)(227)(17)(48)
Net derivatives included in the Consolidated Balance Sheets (b)
560 54 600 98 
Amounts not offset in the Consolidated Balance Sheets:
Marketable securities pledged under bilateral collateral agreements
— (26)— (42)
Net derivatives after deducting amounts not offset in the Consolidated Balance Sheets
$560 $28 $600 $56 
(a)Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the Consolidated Balance Sheets.
(b)Net derivative assets are included in accrued income and other assets and net derivative liabilities are included in accrued expenses and other liabilities on the Consolidated Balance Sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and credit risk of the Corporation. The fair value of net derivative assets included credit valuation adjustments for counterparty credit risk of $16 million and $27 million at March 31, 2021 and December 31, 2020, respectively.
Schedule of the Effects of Fair Value Hedging on the Consolidated Statements of Comprehensive Income
The following table details the effects of fair value hedging on the Consolidated Statements of Comprehensive Income.
Interest on Medium- and Long-Term Debt
 Three Months Ended March 31,
(in millions)20212020
Total interest on medium- and long-term debt (a)$9 $40 
Fair value hedging relationships:
Interest rate contracts:
Hedged items25 30 
Derivatives designated as hedging instruments(17)(6)
(a) Includes the effects of hedging.
Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Cash Flow Swaps The following table summarizes the expected weighted average remaining maturity of the notional amount of risk management interest rate swaps, the carrying amount of the related hedged items and the weighted average interest rates associated with amounts expected to be received or paid on interest rate swap agreements as of March 31, 2021 and December 31, 2020.
Cash flow swaps - receive fixed/pay floating rate on variable-rate loans
(dollar amounts in millions)March 31, 2021December 31, 2020
Derivative notional amount$5,550 $5,550 
Weighted average:
   Remaining maturity (in years)2.0 2.3 
   Receive rate1.87 %1.87 %
   Pay rate (a)0.12 0.15 
(a)Variable rates paid on receive fixed swaps designated as cash flow hedges are based on one-month LIBOR rates in effect at March 31, 2021 and December 31, 2020.
Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Interest Rate Swaps
Fair value swaps - receive fixed/pay floating rate on medium- and long-term debt
(dollar amounts in millions)March 31, 2021December 31, 2020
Derivative notional amount$2,650 $2,650 
Carrying value of hedged items (a)2,852 2,928 
Weighted average:
   Remaining maturity (in years)4.4 4.6 
   Receive rate3.68 %3.68 %
   Pay rate (b)1.10 1.16 
(a)Included $202 million and $279 million of cumulative hedging adjustments at March 31, 2021 and December 31, 2020, respectively, which included $5 million and $6 million, respectively, of hedging adjustment on a discontinued hedging relationship.
(b)Variable rates paid on receive fixed swaps designated as fair value hedges are based on one- and six-month LIBOR rates in effect at March 31, 2021 and December 31, 2020.
Schedule Of Net Gains Recognized In Income On Customer-Initiated Derivatives The net gains recognized in income on customer-initiated derivative instruments, net of the impact of offsetting positions included in derivative income, were as follows:
Three Months Ended March 31,
(in millions)20212020
Interest rate contracts$15 $8 
Energy contracts4 1 
Foreign exchange contracts11 11 
Total derivative income$30 $20 
Schedule Of Financial Instruments With Off-Balance Sheet Credit Risk The Corporation’s credit risk associated with these instruments is represented by the contractual amounts indicated in the following table.
(in millions)March 31, 2021December 31, 2020
Unused commitments to extend credit:
Commercial and other$24,598 $23,443 
Bankcard, revolving check credit and home equity loan commitments3,322 3,297 
Total unused commitments to extend credit$27,920 $26,740 
Standby letters of credit$3,278 $3,273 
Commercial letters of credit40 30 
Summary Of Criticized Letters Of Credit The following table presents a summary of criticized standby and commercial letters of credit at March 31, 2021 and December 31, 2020. The Corporation's criticized list is generally consistent with the Special Mention, Substandard and
Doubtful categories defined by regulatory authorities. The Corporation manages credit risk through underwriting, periodically reviewing and approving its credit exposures using Board committee approved credit policies and guidelines.
(dollar amounts in millions)March 31, 2021December 31, 2020
Total criticized standby and commercial letters of credit$54 $73 
As a percentage of total outstanding standby and commercial letters of credit1.6 %2.2 %