Securities (Tables)

12 Months Ended

Dec. 31, 2013

Securities

Available-for-Sale and Other and Held-to-Maturity Securities

The following table provides the amortized cost, fair value and unrealized gains and losses for the major categories of the available-for-sale and other and held-to-maturity securities portfolios as of December 31:
			2013				2012
			Amortized	Unrealized	Unrealized	Fair	Amortized	Unrealized	Unrealized	Fair
($ in millions)			Cost	Gains	Losses	Value	Cost	Gains	Losses	Value
Available-for-sale and other:
	U.S. Treasury and government agencies	$	26	-	-	26	41	-	-	41
	U.S. Government sponsored agencies		1,523	121	-	1,644	1,730	181	-	1,911
	Obligations of states and political subdivisions		187	5	-	192	203	9	-	212
	Agency mortgage-backed securities(a)		12,294	140	(150)	12,284	8,403	345	(18)	8,730
	Other bonds, notes and debentures		3,514	76	(8)	3,582	3,161	119	(3)	3,277
	Other securities(b)		865	5	(1)	869	1,033	3	-	1,036
Total		$	18,409	347	(159)	18,597	14,571	657	(21)	15,207
Held-to-maturity:
	Obligations of states and political subdivisions	$	207	-	-	207	282	-	-	282
	Other debt securities		1	-	-	1	2	-	-	2
Total		$	208	-	-	208	284	-	-	284

347

Realized Gains and Losses Recognized in Income from Available-for-Sale Securities

The following table presents realized gains and losses that were recognized in income from available-for-sale securities for the years ended December 31:
($ in millions)		2013	2012	2011
Realized gains	$	77	75	75
Realized losses		(102)	(2)	-
OTTI		(74)	(58)	(19)
Net realized (losses) gains(a)	$	(99)	15	56

Excludes net gains on interest-only mortgage-backed securities of $129 for the year ended December 31, 2013.

Amortized Cost and Fair Value of Available-for-Sale and Other and Held-to-Maturity Securities

The expected maturity distribution of the Bancorp’s agency mortgage-backed securities and the contractual maturity distribution of the Bancorp’s available-for-sale and other and held-to-maturity securities as of December 31, 2013 are shown in the following table:
			Available-for-Sale and Other		Held-to-Maturity
($ in millions)			Amortized Cost	Fair Value	Amortized Cost	Fair Value
Debt securities:(a)
	Under 1 year	$	120	123	19	19
	1-5 years		3,703	3,893	170	170
	5-10 years		9,765	9,701	17	17
	Over 10 years		3,956	4,011	2	2
Other securities			865	869	-	-
Total		$	18,409	18,597	208	208

• Actual maturities may differ from contractual maturities when there exists a right to call or prepay obligations with or without call or prepayment penalties.

Fair Value and Gross Unrealized Loss of Securities Available for Sale

The following table provides the fair value and gross unrealized losses on available-for-sale and other securities in an unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31:
		Less than 12 months		12 months or more		Total
			Unrealized		Unrealized		Unrealized
($ in millions)		Fair Value	Losses	Fair Value	Losses	Fair Value	Losses
2013
Agency mortgage-backed securities	$	7,221	(150)	1	-	7,222	(150)
Other bonds, notes and debentures		595	(5)	132	(3)	727	(8)
Other securities		33	(1)	4	-	37	(1)
Total	$	7,849	(156)	137	(3)	7,986	(159)
2012
Agency mortgage-backed securities	$	1,784	(18)	-	-	1,784	(18)
Other bonds, notes and debentures		454	(3)	-	-	454	(3)
Other securities		1	-	-	-	1	-
Total	$	2,239	(21)	-	-	2,239	(21)