(a)	Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $136, $478 and $2, respectively, at March 31, 2020, that are carried at cost.


		Amortized		Unrealized		Unrealized			Fair
December 31, 2019 ($ in millions)		Cost		Gains		Losses			Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agency securities	$		74		1		-			75
Obligations of states and political subdivisions securities			18		-		-			18
Mortgage-backed securities:
Agency residential mortgage-backed securities			13,746		388		(19	)		14,115
Agency commercial mortgage-backed securities			15,141		564		(12	)		15,693
Non-agency commercial mortgage-backed securities			3,242		123		-			3,365
Asset-backed securities and other debt securities			2,189		29		(12	)		2,206
Other securities (a)			556		-		-			556
Total available-for-sale debt and other securities	$		34,966		1,105		(43	)		36,028
Held-to-maturity securities:
Obligations of states and political subdivisions securities	$		15		-		-			15
Asset-backed securities and other debt securities			2		-		-			2
Total held-to-maturity securities	$		17		-		-			17

(a)	Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $76, $478 and $2, respectively, at December 31, 2019, that are carried at cost.

The following table provides the fair value of trading debt securities and equity securities as of:


		March 31,		December 31,
($ in millions)		2020		2019
Trading debt securities	$		433		297
Equity securities			459		564

The amounts reported in the preceding tables exclude accrued interest receivables on investment securities of $94 million at March 31, 2020 which are presented as a component of other assets in the Condensed Consolidated Balance Sheets.

The Bancorp uses investment securities as a means of managing interest rate risk, providing collateral for pledging purposes and for liquidity to satisfy regulatory requirements. As part of managing interest rate risk, the Bancorp acquires securities as a component of its MSR

non-qualifying

hedging strategy, with net gains or losses recorded in securities gains, net –

non-qualifying

hedges on MSRs in the Condensed Consolidated Statements of Income.

The following table presents securities (losses) gains recognized in the Condensed Consolidated Statements of Income:


		For the three months ended
		March 31,
($ in millions)		2020			2019
Available-for-sale debt and other securities:
Realized gains	$		1			13
Realized losses			(1	)		(14	)
Net realized losses on available-for sale debt and other securities	$		-			(1	)
Total trading debt securities gains	$		3			3
Total equity securities (losses) gains (a)	$		(24	)		17
Total (losses) gains recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities (b)	$		(21	)		19

(a)	Includes net unrealized losses of $23 and net unrealized gains of $19 for the three months ended March 31, 2020 and 2019, respectively.

(b)

Excludes $2 of net securities losses for the three months ended March 31, 2020 and $3 of securities gains for the three months ended March 31, 2019 included in commercial banking revenue

and wealth and asset management revenue in the Condensed Consolidated Statements of Income related to securities held by FTS to facilitate the timely execution of customer transactions.

Upon adoption of ASU

2016-13

on January 1, 2020, the Bancorp evaluates

available-for-sale

debt and other securities in an unrealized loss position to determine whether all or a portion of the unrealized loss on such securities is a credit loss. If credit losses are identified, they are generally recognized as an allowance for credit losses (a contra account to the amortized cost basis of the securities) with the periodic change in the allowance recognized in earnings. Prior to January 1, 2020, investment securities were evaluated for OTTI with any identified OTTI recognized as a charge to income and a direct reduction of the amortized cost basis of the securities.

At March 31, 2020, the Bancorp completed its evaluation of the

available-for-sale

debt and other securities in an unrealized loss position and did not recognize an allowance for credit losses. During the three months ended March 31, 2019, the Bancorp did not recognize any OTTI on its

available-for-sale

debt and other securities.

At March 31, 2020 and December 31, 2019, investment securities with a fair value of $10.6 billion and $8.1 billion, respectively, were pledged to secure borrowings, public deposits, trust funds, derivative contracts and for other purposes as required or permitted by law.

The expected maturity distribution of the Bancorp’s mortgage-backed securities and the contractual maturity distribution of the remainder of the Bancorp’s

available-for-sale

debt and other securities and

held-to-maturity

investment securities as of March 31, 2020 are shown in the following table:


		Available-for-Sale Debt and Other				Held-to-Maturity
($ in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Debt securities: (a)
Less than 1 year	$		36		37		15		15
1-5 years			13,751		14,523		-		-
5-10 years			15,746		16,868		-		-
Over 10 years			6,279		6,601		2		2
Other securities			616		616		-		-
Total	$		36,428		38,645		17		17

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

The following table provides the fair value and gross unrealized losses on

available-for-sale

debt 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:


		Less than 12 months					12 months or more					Total
				Unrealized					Unrealized					Unrealized
($ in millions)		Fair Value		Losses			Fair Value		Losses			Fair Value		Losses
March 31, 2020
Agency residential mortgage-backed securities	$		581		(16	)		2		-			583		(16	)
Agency commercial mortgage-backed securities			319		(5	)		-		-			319		(5	)
Non-agency commercial mortgage-backed securities			109		(1	)		-		-			109		(1	)
Asset-backed securities and other debt securities			1,466		(73	)		373		(15	)		1,839		(88	)
Total	$		2,475		(95	)		375		(15	)		2,850		(110	)
December 31, 2019
Agency residential mortgage-backed securities	$		2,159		(19	)		4		-			2,163		(19	)
Agency commercial mortgage-backed securities			1,602		(12	)		-		-			1,602		(12	)
Asset-backed securities and other debt securities			367		(3	)		379		(9	)		746		(12	)
Total	$		4,128		(34	)		383		(9	)		4,511		(43	)

At March 31, 2020 and December 31, 2019, $5 million and an immaterial amount of unrealized losses in the

available-for-sale

debt and other securities portfolio were represented by

non-rated

securities, respectively.