Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Financial Instruments

Notional Amounts and Fair Values for All Derivative Instruments Included in the Consolidated Balance Sheets

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, 2015 ($ in millions)		Amount		Assets	Liabilities
Qualifying Hedging Instruments
Fair value hedges:
Interest rate swaps related to long-term debt	$	2,705		372	2
Total fair value hedges				372	2
Cash flow hedges:
Interest rate swaps related to C&I loans		5,475		39	-
Total cash flow hedges				39	-
Total derivatives designated as qualifying hedging instruments				411	2
Derivatives Not Designated as Qualifying Hedging Instruments
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSRs		11,657		239	9
Forward contracts related to held for sale residential mortgage loans		1,330		3	1
Stock warrant associated with Vantiv Holding, LLC		369		262	-
Swap associated with the sale of Visa, Inc. Class B shares		1,292		-	61
Total free-standing derivatives - risk management and other business purposes				504	71
Free-standing derivatives - customer accommodation:
Interest rate contracts for customers		29,889		242	249
Interest rate lock commitments		721		15	-
Commodity contracts		2,464		294	276
Foreign exchange contracts		16,243		386	340
Total free-standing derivatives - customer accommodation				937	865
Total derivatives not designated as qualifying hedging instruments				1,441	936
Total			$	1,852	938

				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 residential 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		16,475		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

Net Gains (Losses) Recognized in the Income Statement Related to Derivatives in Fair Value Hedging Relationships

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 years ended December 31 ($ in millions)					2015		2014		2013
Interest rate contracts:
Change in fair value of interest rate swaps hedging long-term debt		Interest on long-term debt	$	(29)		120		(279)
Change in fair value of hedged long-term debt attributable to the risk being hedged		Interest on long-term debt		25		(126)		276

Net Gains (Losses) Relating to Derivative Instruments Designated as Cash Flow Hedges

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 years ended December 31 ($ in millions)		2015	2014	2013
Amount of pretax net gains (losses) recognized in OCI	$	74	60	(13)
Amount of pretax net gains reclassified from OCI into net income		75	44	44

Schedule of Price Risk Derivatives

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 years ended December 31 ($ in millions)					2015		2014		2013
Interest rate contracts:
Forward contracts related to residential mortgage loans held for sale		Mortgage banking net revenue	$	8		(18)		24
Interest rate contracts related to MSR portfolio		Mortgage banking net revenue		90		95		(30)
Foreign exchange contracts:
Foreign exchange contracts for risk management purposes		Other noninterest income		23		14		5
Equity contracts:
Stock warrant associated with Vantiv Holding, LLC		Other noninterest income		325	(a)	31		206
Swap associated with sale of Visa, Inc. Class B shares		Other noninterest income		(37)		(38)		(31)

• The Bancorp recognized a net gain of $89 million on both the sale and exercise of the warrant during the fourth quarter of 2015.

Risk Ratings of the Notional Amount of Risk Participation Agreements

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)		2015	2014
Pass	$	1,650	1,052
Special mention		7	59
Substandard		7	2
Total	$	1,664	1,113

Net Gains (Losses) Recognized in the Income Statement Related to Free-Standing Derivative Instruments Used For Customer Accomodation

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:
	Consolidated Statements of Income Caption
For the years ended December 31 ($ in millions)			2015	2014	2013
Interest rate contracts:
Interest rate contracts for customers (contract revenue)	Corporate banking revenue	$	23	19	29
Interest rate contracts for customers (credit losses)	Other noninterest expense		(1)	(3)	(3)
Interest rate contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		1	3	7
Interest rate lock commitments	Mortgage banking net revenue		111	124	58
Commodity contracts:
Commodity contracts for customers (contract revenue)	Corporate banking revenue		5	6	7
Commodity contracts for customers (credit losses)	Other noninterest expense		(2)	-	-
Commodity contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		6	(7)	-
Foreign exchange contracts:
Foreign exchange contracts for customers (contract revenue)	Corporate banking revenue		70	72	69
Foreign exchange contracts for customers (credit portion of fair value adjustment)	Other noninterest expense		-	-	(2)

Offsetting Derivative Financial Instruments

	Gross Amount		Gross Amounts Not Offset in the
	Recognized in the		Consolidated Balance Sheets
As of December 31, 2015 ($ in millions)	Consolidated Balance Sheets(a)		Derivatives	Collateral(b)	Net Amount
Assets
Derivatives	$	1,575	(512)	(627)		436
Total assets		1,575	(512)	(627)		436
Liabilities
Derivatives		938	(512)	(173)		253
Total liabilities	$	938	(512)	(173)		253

• Amount does not include thestock warrant associated with Vantiv Holding, LLC andIRLCs because these instruments are not subject to master netting or similar arrangements.
• Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Consolidated Balance Sheets were excluded from this table.

	Gross Amount		Gross Amounts Not Offset in the
	Recognized in the		Consolidated Balance Sheets
As of December 31, 2014 ($ in millions)	Consolidated Balance Sheets(a)		Derivatives	Collateral(b)	Net Amount
Assets
Derivatives	$	1,653	(440)	(684)		529
Total assets		1,653	(440)	(684)		529
Liabilities
Derivatives		1,043	(440)	(293)		310
Total liabilities	$	1,043	(440)	(293)		310

• Amount does not include thestock warrant associated with Vantiv Holding, LLC andIRLCs because these instruments are not subject to master netting or similar arrangements.
• Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Consolidated Balance Sheets were excluded from this table.