Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Instruments [Abstract]

Derivative Position of the company

	2011						2010
(Dollars in Millions)	Asset Derivatives			Liability Derivatives			Asset Derivatives			Liability Derivatives
Total fair value of derivative positions	$	1,913		$	2,554		$	1,799		$	2,174
Netting (a)		(294	)		(1,889	)		(280	)		(1,163	)
Total	$	1,619		$	665		$	1,519		$	1,011

Note: The fair value of asset and liability derivatives are included in Other assets and Other liabilities on the Consolidated Balance Sheet, respectively.

(a) Represents netting of derivative asset and liability balances, and related collateral, with the same counterparty subject to master netting agreements. Authoritative accounting guidance permits the netting of derivative receivables and payables when a legally enforceable master netting agreement exists between the Company and a derivative counterparty. A master netting agreement is an agreement between two counterparties who have multiple derivative contracts with each other that provide for the net settlement of contracts through a single payment, in a single currency, in the event of default on or termination of any one contract. At December 31, 2011, the amount of cash and money market investments collateral posted by counterparties that was netted against derivative assets was $88 million and the amount of cash collateral posted by the Company that was netted against derivative liabilities was $1.7 billion. At December 31, 2010, the amount of cash and money market investments collateral posted by counterparties that was netted against derivative assets was $55 million and the amount of cash collateral posted by the Company that was netted against derivative liabilities was $936 million.

Asset and liability management derivative positions of company

	Asset Derivatives						Liability Derivatives
(Dollars in Millions)	Notional Value		Fair Value		Weighted-Average Remaining Maturity In Years		Notional Value		Fair Value		Weighted-Average Remaining Maturity In Years
December 31, 2011
Fair value hedges
Interest rate contracts
Receive fixed/pay floating swaps	$	500	$	27		4.09	$	–	$	–		–
Foreign exchange cross-currency swaps		688		17		5.17		432		23		5.17
Cash flow hedges
Interest rate contracts
Pay fixed/receive floating swaps		–		–		–		4,788		803		4.03
Receive fixed/pay floating swaps		750		–		2.75		6,250		6		2.86
Net investment hedges
Foreign exchange forward contracts		708		4		.08		–		–		–
Other economic hedges
Interest rate contracts
Futures and forwards
Buy		14,270		150		.07		29		–		.12
Sell		231		1		.15		14,415		134		.11
Options
Purchased		1,250		–		.07		–		–		–
Written		4,421		80		.10		11		1		.13
Receive fixed/pay floating swaps		2,625		9		10.21		–		–		–
Foreign exchange forward contracts		261		1		.08		567		5		.09
Equity contracts		54		1		1.05		10		–		.64
Credit contracts		800		7		3.71		1,600		8		3.59
December 31, 2010
Fair value hedges
Interest rate contracts
Receive fixed/pay floating swaps		1,800		72		55.75		–		–		–
Foreign exchange cross-currency swaps		891		70		6.17		445		–		6.17
Cash flow hedges
Interest rate contracts
Pay fixed/receive floating swaps		–		–		–		4,788		688		5.03
Net investment hedges
Foreign exchange forward contracts		512		3		.08		–		–		–
Other economic hedges
Interest rate contracts
Futures and forwards
Buy		2,879		20		.10		6,312		79		.05
Sell		9,082		207		.07		6,002		51		.09
Options
Purchased		1,600		–		.06		–		–		–
Written		6,321		23		.07		1,348		9		.07
Receive fixed/pay floating swaps		2,250		3		10.22		–		–		–
Foreign exchange forward contracts		158		1		.09		694		6		.09
Equity contracts		61		3		1.60		–		–		–
Credit contracts		650		2		3.22		1,183		7		2.71

Customer-related derivative positions of the company

	Asset Derivatives						Liability Derivatives
(Dollars in Millions)	Notional Value		Fair Value		Weighted- Average Remaining Maturity In Years		Notional Value		Fair Value		Weighted- Average Remaining Maturity In Years
December 31, 2011
Interest rate contracts
Receive fixed/pay floating swaps	$	16,230	$	1,216		4.98	$	523	$	1		2.52
Pay fixed/receive floating swaps		99		–		1.81		16,206		1,182		5.10
Options
Purchased		2,660		26		6.11		–		–		–
Written		–		–		–		2,660		26		6.11
Foreign exchange rate contracts
Forwards, spots and swaps (a)		7,982		369		.54		8,578		360		.49
Options
Purchased		127		5		.41		–		–		–
Written		–		–		–		127		5		.41
December 31, 2010
Interest rate contracts
Receive fixed/pay floating swaps		15,730		956		4.64		1,294		21		6.01
Pay fixed/receive floating swaps		1,315		24		6.12		15,769		922		4.68
Options
Purchased		2,024		13		1.98		115		12		.36
Written		472		12		.26		1,667		13		2.35
Foreign exchange rate contracts
Forwards, spots and swaps (a)		7,772		384		.74		7,694		360		.75
Options
Purchased		224		6		.40		–		–		–
Written		–		–		–		224		6		.40

(a) Reflects the net of long and short positions.

Summary of effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses) reclassified from other comprehensive income (Loss) into earnings

	Gains (Losses) Recognized in Other Comprehensive Income (Loss)									Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings
(Dollars in Millions)	2011			2010			2009			2011			2010			2009
Asset and Liability Management Positions
Cash flow hedges
Interest rate contracts (a)	$	(213	)	$	(235	)	$	114		$	(138	)	$	(148	)	$	(209	)
Net investment hedges
Foreign exchange forward contracts		34			(25	)		(44	)		–			–			–

Note: Ineffectiveness on cash flow and net investment hedges was not material for the years ended December 31, 2011, 2010 and 2009.

(a) Gains (Losses) reclassified from other comprehensive income (loss) into interest income on loans and interest expense on long-term debt.

Summary of gains (losses) recognized in earnings for fair value hedges, other economic hedges and customer-related positions

	Location of Gains (Losses) Recognized in Earnings	Gains (Losses) Recognized in Earnings
(Dollars in Millions)		2011			2010			2009
Asset and Liability Management Positions
Fair value hedges (a)
Interest rate contracts	Other noninterest income	$	(36	)	$	(31	)	$	(27	)
Foreign exchange cross-currency swaps	Other noninterest income		(69	)		(193	)		115
Other economic hedges
Interest rate contracts
Futures and forwards	Mortgage banking revenue		23			831			184
Purchased and written options	Mortgage banking revenue		456			425			300
Receive fixed/pay floating swaps	Mortgage banking revenue		518			–			–
Pay fixed/receive floating swaps	Mortgage banking revenue		1			–			–
Foreign exchange forward contracts	Commercial products revenue		(81	)		(16	)		(46	)
Equity contracts	Compensation expense		1			1			(22	)
Credit contracts	Other noninterest income/expense		–			(6	)		29
Customer-Related Positions
Interest rate contracts
Receive fixed/pay floating swaps	Other noninterest income		302			201			(658	)
Pay fixed/receive floating swaps	Other noninterest income		(317	)		(196	)		696
Purchased and written options	Other noninterest income		–			1			(1	)
Foreign exchange rate contracts
Forwards, spots and swaps	Commercial products revenue		53			49			49
Purchased and written options	Commercial products revenue		–			1			1

(a) Gains (Losses) on items hedged by interest rate contracts and foreign exchange forward contracts, included in noninterest income (expense), were $29 million and $72 million for the year ended December 31, 2011, respectively, $35 million and $193 million for the year ended December 31, 2010, respectively, and $25 million and $(114) million for the year ended December 31, 2009, respectively. The ineffective portion was immaterial for the years ended December 31, 2011, 2010 and 2009.