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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Available-for-Sale and Held-to-Maturity
The amortized cost, gross unrealized holding gains and losses, and fair value of held-to-maturity and available-for-sale investment securities were as follows:
 
    March 31, 2023      December 31, 2022  
(Dollars in Millions)   Amortized
Cost		      Unrealized
Gains		      Unrealized
Losses		     Fair Value      Amortized
Cost		      Unrealized
Gains		      Unrealized
Losses		     Fair Value  
Held-to-maturity
                                                                     
U.S. Treasury and agencies
   $ 1,344      $ —      $ (37 )    $ 1,307      $ 1,344      $ —      $ (51 )    $ 1,293  
Mortgage-backed securities
                                                                     
Residential agency
     85,419        23        (9,589 )      75,853        85,693        2        (10,810 )      74,885  
Commercial agency
     1,699        18        (1 )      1,716        1,703        1        (8 )      1,696  
Total held-to-maturity
   $ 88,462      $ 41      $ (9,627 )    $ 78,876      $ 88,740      $ 3      $ (10,869 )    $ 77,874  
Available-for-sale
                                                                     
U.S. Treasury and agencies
   $ 20,421      $ 3      $ (2,370 )    $ 18,054      $ 24,801      $ 1      $ (2,769 )    $ 22,033  
Mortgage-backed securities
                                                                     
Residential agency
     28,467        7        (2,329 )      26,145        32,060        8        (2,797 )      29,271  
Commercial
                                                                     
Agency
     8,727        —        (1,427 )      7,300        8,736        —        (1,591 )      7,145  
Non-agency
     7        —        —       7        7        —        —       7  
Asset-backed securities
     3,836        4        (33 )      3,807        4,356        5        (38 )      4,323  
Obligations of state and political subdivisions
     11,234        16        (1,076 )      10,174        11,484        12        (1,371 )      10,125  
Other
     4        —        —       4        6        —        —       6  
Total available-for-sale
   $ 72,696      $ 30      $ (7,235 )    $ 65,491      $ 81,450      $ 26      $ (8,566 )    $ 72,910  
Amount of Interest Income from Taxable and Non-Taxable Investment Securities
The following table provides information about the amount of interest income from taxable and non-taxable investment securities:
 
    Three Months Ended
March 31		  
(Dollars in Millions)           2023              2022  
Taxable
   $ 994      $ 646  
Non-taxable
     80        71  
Total interest income from investment securities
   $ 1,074      $ 717  
Amount of Gross Gains and Losses Realized through Sales of Available-for-Sale Investment Securities
The following table provides information about the amount of gross gains and losses realized through the sales of available-for-sale investment securities:
 
    Three Months Ended
March 31		  
(Dollars in Millions)           2023             2022  
Realized gains
   $ 60     $ 242  
Realized losses
     (92 )      (224 ) 
Net realized gains (losses)
   $ (32 )    $ 18  
Income tax on net realized gains (losses)
   $ (8 )    $ 4  
Gross Unrealized Losses and Fair Value of Company's Investment Securities The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale investment securities with unrealized losses, aggregated by investment category and length of time the individual investment securities have been in continuous unrealized loss positions, at March 31, 2023:
 
    Less Than 12 Months      12 Months or Greater      Total  
(Dollars in Millions)  
Fair
Value
      Unrealized
Losses		     
Fair
Value
      Unrealized
Losses		     
Fair
Value
      Unrealized
Losses		  
U.S. Treasury and agencies
   $ 359      $ (11 )     $ 17,134      $ (2,359 )     $ 17,493      $ (2,370 ) 
Mortgage-backed securities
                                                     
Residential agency
     6,121        (252 )       19,435        (2,077 )       25,556        (2,329 ) 
Commercial
                                                     
Agency
     —        —        7,300        (1,427 )       7,300        (1,427 ) 
Non-agency
     7        —        —        —        7        —  
Asset-backed securities
     3,140        (33 )       —        —        3,140        (33 ) 
Obligations of state and political subdivisions
     4,550        (126 )       4,198        (950 )       8,748        (1,076 ) 
Other
     —        —        4        —        4        —  
Total investment securities
   $ 14,177      $ (422 )     $ 48,071      $ (6,813 )     $ 62,248      $ (7,235 ) 
Investment Securities
The following table provides information about the amortized cost, fair value and yield by maturity date of the investment securities outstanding at March 31, 2023:
 
(Dollars in Millions)   Amortized
Cost		     
Fair
Value
      Weighted-
Average
Maturity in
Years		      Weighted-
Average
Yield (e)		  
Held-to-maturity
                                   
U.S. Treasury and Agencies
                                   
Maturing in one year or less
   $ —      $ —        —        — % 
Maturing after one year through five years
     1,344        1,307        3.0        2.85  
Maturing after five years through ten years
     —        —        —        —  
Maturing after ten years
     —        —        —        —  
Total
   $ 1,344      $ 1,307        3.0        2.85 % 
Mortgage-Backed Securities (a)
                                   
Maturing in one year or less
   $ 22      $ 21        .8        5.09 % 
Maturing after one year through five years
     1,531        1,536        2.7        4.58  
Maturing after five years through ten years
     79,376        70,881        9.0        2.20  
Maturing after ten years
     6,189        5,131        10.2        1.93  
Total
   $ 87,118      $ 77,569        9.0        2.23 % 
Total held-to-maturity (b)
   $ 88,462      $ 78,876        8.9        2.24 % 
Available-for-sale
                                   
U.S. Treasury and Agencies
                                   
Maturing in one year or less
   $ 261      $ 261        .2        4.75 % 
Maturing after one year through five years
     4,452        4,114        3.9        1.70  
Maturing after five years through ten years
     13,339        11,829        7.0        1.93  
Maturing after ten years
     2,369        1,850        11.2        2.00  
Total
   $ 20,421      $ 18,054        6.7        1.92 % 
Mortgage-Backed Securities (a)
                                   
Maturing in one year or less
   $ 71      $ 70        .8        2.44 % 
Maturing after one year through five years
     9,603        9,020        3.1        2.44  
Maturing after five years through ten years
     26,252        23,248        7.5        2.94  
Maturing after ten years
     1,275        1,114        11.1        3.55  
Total
   $ 37,201      $ 33,452        6.5        2.83 % 
Asset-Backed Securities
                                   
Maturing in one year or less
   $ 3,054      $ 3,021        .4        4.25 % 
Maturing after one year through five years
     506        509        3.2        6.94  
Maturing after five years through ten years
     276        277        5.7        5.77  
Maturing after ten years
     —        —        —        —  
Total
   $ 3,836      $ 3,807        1.2        4.72 % 
Obligations of State and Political
                                   
Subdivisions (c) (d)
                                   
Maturing in one year or less
   $ 152      $ 153        .3        5.12 % 
Maturing after one year through five years
     3,579        3,550        3.7        4.51  
Maturing after five years through ten years
     1,556        1,488        7.8        3.89  
Maturing after ten years
     5,947        4,983        16.2        3.21  
Total
   $ 11,234      $ 10,174        10.8        3.74 % 
Other
                                   
Maturing in one year or less
   $ —      $ —        —        — % 
Maturing after one year through five years
     4        4        2.2        1.89  
Maturing after five years through ten years
     —        —        —        —  
Maturing after ten years
     —        —        —        —  
Total
   $ 4      $ 4        2.2        1.89 % 
Total available-for-sale (b)
   $ 72,696      $ 65,491        7.0        2.82 % 
 
(a)
Information related to asset and mortgage-backed securities included above is presented based upon weighted-average maturities that take into account anticipated future prepayments.
(b)
The weighted-average maturity of total held-to-maturity investment securities was 9.2 years at December 31, 2022, with a corresponding weighted-average yield of 2.18 percent. The weighted-average maturity of total available-for-sale investment securities was 7.4 years at December 31, 2022, with a corresponding weighted-average yield of 2.94 percent.
(c)
Information related to obligations of state and political subdivisions is presented based upon yield to first optional call date if the security is purchased at a premium, and yield to maturity if the security is purchased at par or a discount.
(d)
Maturity calculations for obligations of state and political subdivisions are based on the first optional call date for securities with a fair value above par and the contractual maturity date for securities with a fair value equal to or below par.
(e)
Weighted-average yields for obligations of state and political subdivisions are presented on a fully-taxable equivalent basis based on a federal income tax rate of 21 percent. Yields on investment securities are computed based on amortized cost balances, excluding any premiums or discounts recorded related to the transfer of investment securities at fair value from available-for-sale to held-to-maturity.