Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

The following tables reflect the notional amounts and fair values for all derivative instruments included in the Consolidated Balance Sheets as of:

				Fair Value
		Notional		Derivative	Derivative
December 31, 2013 ($ in millions)		Amount		Assets	Liabilities
Qualifying hedging instruments
Fair value hedges:
Interest rate swaps related to long-term debt	$	3,205		292	13
Total fair value hedges				292	13
Cash flow hedges:
Interest rate swaps related to C&I loans		2,200		40	21
Total cash flow hedges				40	21
Total derivatives designated as qualifying hedging instruments				332	34
Derivatives not designated as qualifying hedging instruments
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSRs		4,092		141	14
Forward contracts related to held for sale mortgage loans		1,448		13	1
Stock warrant associated with Vantiv Holding, LLC		664		384	-
Swap associated with the sale of Visa, Inc. Class B shares		947		-	48
Total free-standing derivatives - risk management and other business purposes				538	63
Free-standing derivatives - customer accommodation:
Interest rate contracts for customers		28,112		329	339
Interest rate lock commitments		924		12	1
Commodity contracts		3,300		66	65
Foreign exchange contracts		19,688		276	252
Total free-standing derivatives - customer accommodation				683	657
Total derivatives not designated as qualifying hedging instruments				1,221	720
Total			$	1,553	754

				Fair Value
		Notional		Derivative	Derivative
December 31, 2012 ($ in millions)		Amount		Assets	Liabilities
Qualifying hedging instruments
Fair value hedges:
Interest rate swaps related to long-term debt	$	2,880		558	-
Total fair value hedges				558	-
Cash flow hedges:
Interest rate floors related to C&I loans		1,500		22	-
Interest rate swaps related to C&I loans		1,000		60	-
Interest rate caps related to long-term debt		500		-	-
Interest rate swaps related to long-term debt		250		-	1
Total cash flow hedges				82	1
Total derivatives designated as qualifying hedging instruments				640	1
Derivatives not designated as qualifying hedging instruments
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSRs		10,177		219	-
Forward contracts related to held for sale mortgage loans		5,322		2	14
Stock warrant associated with Vantiv Holding, LLC		416		177	-
Swap associated with the sale of Visa, Inc. Class B shares		644		-	33
Total free-standing derivatives - risk management and other business purposes				398	47
Free-standing derivatives - customer accommodation:
Interest rate contracts for customers		27,354		586	602
Interest rate lock commitments		4,894		60	-
Commodity contracts		3,084		87	82
Foreign exchange contracts		17,297		201	183
Derivative instruments related to equity linked CDs		5		-	-
Total free-standing derivatives - customer accommodation				934	867
Total derivatives not designated as qualifying hedging instruments				1,332	914
Total			$	1,972	915

The following table reflects the change in fair value of interest rate contracts, designated as fair value hedges, as well as the change in fair value of the related hedged items attributable to the risk being hedged, included in the Consolidated Statements of Income:

	Consolidated Statements of Income Caption
For the year ended December 31 ($ in millions)	Consolidated Statements of Income Caption				2013		2012		2011
Interest rate contracts:
Change in fair value of interest rate swaps hedging long-term debt		Interest on long-term debt	$	(279)		(104)		220
Change in fair value of hedged long-term debt attributable to the risk being hedged		Interest on long-term debt		276		107		(227)

The following table presents the net gains (losses) recorded in the Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income relating to derivative instruments designated as cash flow hedges:

For the year ended December 31 ($ in millions)		2013	2012	2011
Amount of net (losses) gains recognized in OCI	$	(13)	37	89
Amount of net gains reclassified from OCI into net income		44	83	69
Amount of ineffectiveness recognized in other noninterest income		-	-	1

The net gains (losses) recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for risk management and other business purposes are summarized in the following table:

	Consolidated Statements of Income Caption
For the year ended December 31 ($ in millions)	Consolidated Statements of Income Caption				2013		2012		2011
Interest rate contracts:
Forward contracts related to mortgage loans held for sale		Mortgage banking net revenue	$	24		28		(128)
Interest rate contracts related to MSR portfolio		Mortgage banking net revenue		(30)		63		345
Interest rate swaps related to long-term debt		Other noninterest income		-		2		7
Foreign exchange contracts:
Foreign exchange contracts for risk management purposes		Other noninterest income		5		-		-
Equity contracts:
Stock warrant associated with Vantiv Holding, LLC		Other noninterest income		206		66		32
Put option associated with Vantiv Holding, LLC		Other noninterest income		-		1		7
Swap associated with sale of Visa, Inc. Class B shares		Other noninterest income		(31)		(45)		(83)

Risk ratings of the notional amount of risk participation agreements under this risk rating system are summarized in the following table:

At December 31 ($ in millions)		2013	2012
Pass	$	1,153	993
Special mention		38	-
Substandard		12	13
Total	$	1,203	1,006

The net gains (losses) recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:

For the year ended December 31	Consolidated Statements of Income Caption
($ in millions)	Consolidated Statements of Income Caption		2013	2012	2011
Interest rate contracts:
Interest rate contracts for customers (contract revenue)	Corporate banking revenue	$	29	30	28
Interest rate contracts for customers (credit losses)	Other noninterest expense		(3)	(2)	(13)
Interest rate contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		7	6	13
Interest rate lock commitments	Mortgage banking net revenue		58	417	206
Commodity contracts:
Commodity contracts for customers (contract revenue)	Corporate banking revenue		7	7	8
Commodity contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		-	2	-
Foreign exchange contracts:
Foreign exchange contracts - customers (contract revenue)	Corporate banking revenue		69	65	47
Foreign exchange contracts - customers (credit portion of fair value adjustment)	Other noninterest expense		(2)	2	1