Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014 ($ in millions)		Amount		Assets	Liabilities
Qualifying hedging instruments
Fair value hedges:
Interest rate swaps related to long-term debt	$	2,205		399	-
Total fair value hedges				399	-
Cash flow hedges:
Interest rate swaps related to C&I loans		3,150		36	-
Total cash flow hedges				36	-
Total derivatives designated as qualifying hedging instruments				435	-
Derivatives not designated as qualifying hedging instruments
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSRs		4,487		181	-
Forward contracts related to held for sale mortgage loans		999		-	6
Stock warrant associated with Vantiv Holding, LLC		691		415	-
Swap associated with the sale of Visa, Inc. Class B shares		1,092		-	49
Total free-standing derivatives - risk management and other business purposes				596	55
Free-standing derivatives - customer accommodation:
Interest rate contracts for customers		29,558		272	278
Interest rate lock commitments		613		12	-
Commodity contracts		3,558		348	338
Foreign exchange contracts		16,745		417	372
Total free-standing derivatives - customer accommodation				1,049	988
Total derivatives not designated as qualifying hedging instruments				1,645	1,043
Total			$	2,080	1,043

				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

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				2014		2013		2012
Interest rate contracts:
Change in fair value of interest rate swaps hedging long-term debt		Interest on long-term debt	$	120		(279)		(104)
Change in fair value of hedged long-term debt attributable to the risk being hedged		Interest on long-term debt		(126)		276		107

The following table presents the pretax 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)		2014	2013	2012
Amount of pretax net gains (losses) recognized in OCI	$	60	(13)	37
Amount of pretax net gains reclassified from OCI into net income		44	44	83

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				2014		2013		2012
Interest rate contracts:
Forward contracts related to mortgage loans held for sale		Mortgage banking net revenue	$	(18)		24		28
Interest rate contracts related to MSR portfolio		Mortgage banking net revenue		95		(30)		63
Interest rate swaps related to long-term debt		Other noninterest income		-		-		2
Foreign exchange contracts:
Foreign exchange contracts for risk management purposes		Other noninterest income		14		5		-
Equity contracts:
Stock warrant associated with Vantiv Holding, LLC		Other noninterest income		31		206		66
Put option associated with Vantiv Holding, LLC		Other noninterest income		-		-		1
Swap associated with sale of Visa, Inc. Class B shares		Other noninterest income		(38)		(31)		(45)

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)		2014	2013
Pass	$	1,052	1,153
Special mention		59	38
Substandard		2	12
Total	$	1,113	1,203

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		2014	2013	2012
Interest rate contracts:
Interest rate contracts for customers (contract revenue)	Corporate banking revenue	$	19	29	30
Interest rate contracts for customers (credit losses)	Other noninterest expense		(3)	(3)	(2)
Interest rate contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		3	7	6
Interest rate lock commitments	Mortgage banking net revenue		124	58	417
Commodity contracts:
Commodity contracts for customers (contract revenue)	Corporate banking revenue		6	7	7
Commodity contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		(7)	-	2
Foreign exchange contracts:
Foreign exchange contracts - customers (contract revenue)	Corporate banking revenue		72	69	65
Foreign exchange contracts - customers (credit portion of fair value adjustment)	Other noninterest expense		-	(2)	2