Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Asset and Liability Management Derivative Positions of Company

The following table summarizes the asset and liability management 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
March 31, 2014
Fair value hedges
Interest rate contracts
Receive fixed/pay floating swaps	$	500	$	17		1.84	$	–	$	–		–
Cash flow hedges
Interest rate contracts
Pay fixed/receive floating swaps		272		17		8.52		5,462		451		2.53
Receive fixed/pay floating swaps		7,000		22		.60		–		–		–
Net investment hedges
Foreign exchange forward contracts		1,082		9		.04		–		–		–
Other economic hedges
Interest rate contracts
Futures and forwards
Buy		2,259		13		.07		1,526		1		.04
Sell		2,345		7		.11		2,119		9		.09
Options
Purchased		3,250		–		.07		–		–		–
Written		2,427		27		.08		6		–		.07
Receive fixed/pay floating swaps		3,375		5		10.23		100		–		10.23
Foreign exchange forward contracts		1,618		3		.01		2,230		8		.03
Equity contracts		68		1		1.38		9		–		1.22
Credit contracts		1,298		4		3.85		2,198		6		3.14
Total	$	25,494	$	125			$	13,650	$	475
December 31, 2013
Fair value hedges
Interest rate contracts
Receive fixed/pay floating swaps	$	500	$	22		2.09	$	–	$	–		–
Cash flow hedges
Interest rate contracts
Pay fixed/receive floating swaps		772		26		6.25		4,288		498		2.46
Receive fixed/pay floating swaps		7,000		26		.84		–		–		–
Net investment hedges
Foreign exchange forward contracts		–		–		–		1,056		4		.04
Other economic hedges
Interest rate contracts
Futures and forwards
Buy		2,310		9		.07		1,025		7		.06
Sell		5,234		58		.08		346		4		.17
Options
Purchased		2,300		–		.07		–		–		–
Written		1,902		17		.07		2		–		.08
Receive fixed/pay floating swaps		–		–		–		3,540		56		10.22
Foreign exchange forward contracts		6,813		24		.02		2,121		4		.02
Equity contracts		79		3		1.62		–		–		–
Credit contracts		1,209		4		4.04		2,352		7		3.08
Total	$	28,119	$	189			$	14,730	$	580

Customer-Related Derivative Positions of Company

The following table summarizes the 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
March 31, 2014
Interest rate contracts
Receive fixed/pay floating swaps	$	13,905	$	622		5.43	$	6,082	$	52		5.01
Pay fixed/receive floating swaps		5,700		61		4.75		14,226		590		5.43
Options
Purchased		3,249		18		4.54		26		–		3.17
Written		26		–		3.17		3,249		18		4.54
Futures
Buy		–		–		–		124		–		.21
Sell		787		–		1.29		421		–		1.13
Foreign exchange rate contracts
Forwards, spots and swaps		12,049		445		.59		11,759		415		.58
Options
Purchased		724		13		.58		–		–		–
Written		–		–		–		724		13		.58
Total	$	36,440	$	1,159			$	36,611	$	1,088
December 31, 2013
Interest rate contracts
Receive fixed/pay floating swaps	$	11,717	$	600		5.11	$	7,291	$	106		5.57
Pay fixed/receive floating swaps		6,746		114		6.03		12,361		560		4.90
Options
Purchased		3,489		33		4.53		–		–		–
Written		–		–		–		3,489		33		4.53
Foreign exchange rate contracts
Forwards, spots and swaps		10,970		457		.59		9,975		427		.62
Options
Purchased		364		11		.53		–		–		–
Written		–		–		–		364		11		.53
Total	$	33,286	$	1,215			$	33,480	$	1,137

Summary of Effective Portion of Gains (Losses) Recognized in Other Comprehensive Income (Loss) and Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings

The table below shows the effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses) reclassified from other comprehensive income (loss) into earnings (net-of-tax) for the three months ended March 31:

	Gains (Losses) Recognized in Other Comprehensive Income (Loss)					Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings
(Dollars in Millions)	2014			2013		2014			2013
Asset and Liability Management Positions
Cash flow hedges
Interest rate contracts (a)	$	(7	)	$	–	$	(30	)	$	(33	)
Net investment hedges
Foreign exchange forward contracts		–			23		–			–

Note: Ineffectiveness on cash flow and net investment hedges was not material for the three months ended March 31, 2014 and 2013.

(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

The table below shows the gains (losses) recognized in earnings for fair value hedges, other economic hedges and the customer-related positions for the three months ended March 31:

(Dollars in Millions)	Location of Gains (Losses) Recognized in Earnings		2014			2013
Asset and Liability Management Positions
Fair value hedges (a)
Interest rate contracts		Other noninterest income	$	(2	)	$	(2	)
Other economic hedges
Interest rate contracts
Futures and forwards		Mortgage banking revenue		(49	)		236
Purchased and written options		Mortgage banking revenue		66			129
Receive fixed/pay floating swaps		Mortgage banking revenue		109			(40	)
Foreign exchange forward contracts		Commercial products revenue		(5	)		8
Credit contracts		Other noninterest income/expense		–			(1	)
Customer-Related Positions
Interest rate contracts
Receive fixed/pay floating swaps		Other noninterest income		134			(96	)
Pay fixed/receive floating swaps		Other noninterest income		(129	)		96
Foreign exchange rate contracts
Forwards, spots and swaps		Commercial products revenue		16			7

(a) Gains (Losses) on items hedged by interest rate contracts included in noninterest income (expense), were $2 million for both the three months ended March 31, 2014 and 2013. The ineffective portion was immaterial for the three months ended March 31, 2014 and 2013.