Netting Arrangements for Certain Financial Instruments and Securities Financing Activities (Tables)

9 Months Ended

Sep. 30, 2015

Text Block [Abstract]

Summary of Maturities by Category of Collateral Pledged for Repurchase Agreements and Securities Loaned Transactions

The following table summarizes the maturities by category of collateral pledged for repurchase agreements and securities loaned transactions at September 30, 2015:

(Dollars in Millions)	Overnight and Continuous		Less Than 30 Days		Total
Repurchase Agreements
U.S. Treasury and agencies	$	43	$	10	$	53
Residential agency mortgage-backed securities		661		410		1,071
Total repurchase agreements		704		420		1,124
Securities Loaned
Corporate debt securities		17		–		17
Total securities loaned		17		–		17
Gross amount of recognized liabilities for repurchase agreements and securities loaned	$	721	$	420	$	1,141

Information on Company's Accounting Netting Adjustments and Items Not Offset in Consolidated Balance Sheet Assets But Available for Offset in Event of Default

The following tables provide information on the Company’s netting adjustments, and items not offset on the Consolidated Balance Sheet but available for offset in the event of default:

	Gross Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet (a)			Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
(Dollars in Millions)								Financial Instruments (b)			Collateral Received (c)
September 30, 2015
Derivative assets (d)	$	2,174	$	(932	)	$	1,242	$	(115	)	$	–		$	1,127
Reverse repurchase agreements		133		–			133		(42	)		(91	)		–
Securities borrowed		717		–			717		–			(696	)		21
Total	$	3,024	$	(932	)	$	2,092	$	(157	)	$	(787	)	$	1,148
December 31, 2014
Derivative assets (d)	$	1,847	$	(870	)	$	977	$	(58	)	$	–		$	919
Reverse repurchase agreements		40		–			40		(40	)		–			–
Securities borrowed		638		–			638		–			(620	)		18
Total	$	2,525	$	(870	)	$	1,655	$	(98	)	$	(620	)	$	937

(a) Includes $246 million and $258 million of cash collateral related payables that were netted against derivative assets at September 30, 2015 and December 31, 2014, respectively.

(b) For derivative assets this includes any derivative liability fair values that could be offset in the event of counterparty default; for reverse repurchase agreements this includes any repurchase agreement payables that could be offset in the event of counterparty default; for securities borrowed this includes any securities loaned payables that could be offset in the event of counterparty default.

(c) Includes the fair value of securities received by the Company from the counterparty. These securities are not included on the Consolidated Balance Sheet unless the counterparty defaults.

(d) Excludes $556 million and $221 million of derivative assets centrally cleared or otherwise not subject to netting arrangements at September 30, 2015 and December 31, 2014, respectively.

Information on Company's Accounting Netting Adjustments and Items Not Offset in Consolidated Balance Sheet Liabilities But Available for Offset in Event of Default

	Gross Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet (a)			Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
(Dollars in Millions)								Financial Instruments (b)			Collateral Pledged (c)
September 30, 2015
Derivative liabilities (d)	$	2,111	$	(1,445	)	$	666	$	(115	)	$	–		$	551
Repurchase agreements		1,124		–			1,124		(42	)		(1,082	)		–
Securities loaned		17		–			17		–			(17	)		–
Total	$	3,252	$	(1,445	)	$	1,807	$	(157	)	$	(1,099	)	$	551
December 31, 2014
Derivative liabilities (d)	$	1,847	$	(1,317	)	$	530	$	(58	)	$	–		$	472
Repurchase agreements		948		–			948		(40	)		(908	)		–
Securities loaned		47		–			47		–			(46	)		1
Total	$	2,842	$	(1,317	)	$	1,525	$	(98	)	$	(954	)	$	473

(a) Includes $758 million and $705 million of cash collateral related receivables that were netted against derivative liabilities at September 30, 2015 and December 31, 2014, respectively.

(b) For derivative liabilities this includes any derivative asset fair values that could be offset in the event of counterparty default; for repurchase agreements this includes any reverse repurchase agreement receivables that could be offset in the event of counterparty default; for securities loaned this includes any securities borrowed receivables that could be offset in the event of counterparty default.

(c) Includes the fair value of securities pledged by the Company to the counterparty. These securities are included on the Consolidated Balance Sheet unless the Company defaults.

(d) Excludes $711 million and $342 million of derivative liabilities centrally cleared or otherwise not subject to netting arrangements at September 30, 2015 and December 31, 2014, respectively.