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Income Taxes - Net Deferred Tax Position (Detail) - USD ($)
$ in Millions
Dec. 31, 2015
Dec. 31, 2014
Deferred Tax Assets:    
Credit loss reserves $ 144 $ 881
Receivables held for sale 541 0
Federal and state unused tax benefit carryforwards 1,719 1,335
Market value adjustment related to derivatives and long-term debt carried at fair value 275 449
Interests in Real Estate Mortgage Investment Conduits [1] 345 326
Accrued expenses not currently deductible 480 191
Other 235 280
Total deferred tax assets 3,739 3,462
Valuation allowance (707) (878)
Total deferred tax assets net of valuation allowance 3,032 2,584
Deferred Tax Liabilities:    
Fee income 54 74
Other 55 66
Total deferred tax liabilities 109 140
Net deferred tax assets $ 2,923 $ 2,444
[1] Real Estate Mortgage Investment Conduits ("REMIC") are investment vehicles that hold commercial and residential mortgages in trust and issue securities representing an undivided interest in these mortgages. We hold portfolios of noneconomic residual interests in a number of REMICs through one of our subsidiaries. This item represents the tax basis in such interests which has accumulated as a result of tax rules requiring the recognition of income related to such noneconomic residuals.