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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities Available for Sale and Securities Held to Maturity
The amortized cost, gross unrealized gains and losses, and fair value of the Company’s investment securities are as follows:
September 30, 2020Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale securities    
U.S. agency mortgage-backed securities$251,323 $7,223 $280 $258,266 
Asset-backed securities (1)
19,320 177 176 19,321 
Corporate debt securities (2)
13,192 388 — 13,580 
U.S. Treasury securities7,871 31 — 7,902 
U.S. state and municipal securities1,548 142 — 1,690 
Non-agency commercial mortgage-backed securities1,214 52 — 1,266 
Certificates of deposit500 1 — 501 
Foreign government agency securities1,209 2 1 1,210 
Other22 — — 22 
Total available for sale securities$296,199 $8,016 $457 $303,758 
December 31, 2019
Available for sale securities
U.S. agency mortgage-backed securities$45,964 $312 $121 $46,155 
Corporate debt securities (2)
5,427 57 — 5,484 
Asset-backed securities (1)
4,970 30 13 4,987 
U.S. Treasury securities3,387 3 6 3,384 
Certificates of deposit1,000 4 — 1,004 
Commercial paper (2,3)
394 1 — 395 
Non-agency commercial mortgage-backed securities13 — — 13 
Total available for sale securities$61,155 $407 $140 $61,422 
Held to maturity securities
U.S. agency mortgage-backed securities$109,325 $1,521 $280 $110,566 
Asset-backed securities (1)
17,806 50 85 17,771 
Corporate debt securities (2)
4,661 57 — 4,718 
U.S. state and municipal securities1,301 103 — 1,404 
Non-agency commercial mortgage-backed securities1,119 22 — 1,141 
U.S. Treasury securities223 5 — 228 
Certificates of deposit200 — — 200 
Foreign government agency securities50 — — 50 
Other21 — — 21 
Total held to maturity securities$134,706 $1,758 $365 $136,099 
(1) Approximately 49% and 43% of asset-backed securities held as of September 30, 2020 and December 31, 2019, respectively, were Federal Family Education Loan Program Asset-Backed Securities. Asset-backed securities collateralized by credit card receivables represented approximately 37% and 42% of the asset-backed securities held as of September 30, 2020 and December 31, 2019, respectively.
(2) As of September 30, 2020 approximately 47% of the total AFS, and as of December 31, 2019 approximately 32%, of the total AFS and HTM investments in corporate debt securities and commercial paper were issued by institutions in the financial services industry.
(3) Included in cash and cash equivalents on the condensed consolidated balance sheets, but excluded from this table is $2.5 billion of AFS commercial paper as of December 31, 2019 (none as of September 30, 2020). These holdings have maturities of three months or less and an aggregate market value equal to amortized cost.
Securities with Unrealized Losses, Aggregated by Category and Period of Continuous Unrealized Loss
Securities with unrealized losses, aggregated by category and period of continuous unrealized loss, are as follows:
Less than 12 months12 months or longerTotal
September 30, 2020Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Available for sale securities      
Asset-backed securities$4,053 $83 $3,993 $93 $8,046 $176 
U.S. agency mortgage-backed securities41,247 266 5,852 14 47,099 280 
Foreign government agency securities658 1 — — 658 1 
Total$45,958 $350 $9,845 $107 $55,803 $457 
Securities with Unrealized Losses, Aggregated by Category and Period of Continuous Unrealized Loss
December 31, 2019    
Available for sale securities       
U.S. agency mortgage-backed securities$16,023 $94 $6,592 $27 $22,615 $121 
Asset-backed securities960 6 298 7 1,258 13 
U.S. Treasury securities510 — 1,243 6 1,753 6 
Total$17,493 $100 $8,133 $40 $25,626 $140 
Held to maturity securities      
U.S. agency mortgage-backed securities$16,183 $100 $18,910 $180 $35,093 $280 
Asset-backed securities7,507 63 2,898 22 10,405 85 
Total$23,690 $163 $21,808 $202 $45,498 $365 
Total securities with unrealized losses$41,183 $263 $29,941 $242 $71,124 $505 
Maturities of Securities Available for Sale and Securities Held to Maturity
The maturities of AFS securities are as follows:
September 30, 2020Within
1 year		After 1 year
through
5 years		After 5 years
through
10 years		After
10 years		Total
Available for sale securities     
U.S. agency mortgage-backed securities$1,437 $21,995 $60,619 $174,215 $258,266 
Asset-backed securities10 6,402 4,469 8,440 19,321 
Corporate debt securities4,262 7,000 2,318 — 13,580 
U.S. Treasury securities7,559 343 — — 7,902 
U.S. state and municipal securities— 104 765 821 1,690 
Non-agency commercial mortgage-backed securities — — — 1,266 1,266 
Certificates of deposit501 — — — 501 
Foreign government agency securities125 1,085 — — 1,210 
Other— — — 22 22 
Total fair value$13,894 $36,929 $68,171 $184,764 $303,758 
Total amortized cost$13,820 $35,591 $65,043 $181,745 $296,199 
Proceeds and Gross Realized Gains And Losses from Sales of Securities Available for Sale
Proceeds and gross realized gains and losses from sales of AFS securities are as follows:
Three Months Ended
September 30,		Nine Months Ended September 30,
2020201920202019
Proceeds$2,825 $5,436 $2,895 $21,710 
Gross realized gains4 5 4 15 
Gross realized losses1 4 1 10