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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis:
TABLE 19.1
(in millions)Level 1Level 2Level 3Total
September 30, 2022
Assets Measured at Fair Value
Debt securities available for sale
U.S. Treasury$256 $— $— $256 
U.S. government agencies— 117 — 117 
U.S. government-sponsored entities— 261 — 261 
Residential mortgage-backed securities:
Agency mortgage-backed securities— 1,280 — 1,280 
Agency collateralized mortgage obligations— 1,022 — 1,022 
Commercial mortgage-backed securities— 407 — 407 
States of the U.S. and political subdivisions (municipals)— 29 — 29 
Other debt securities— 19 1 20 
Total debt securities available for sale256 3,135 1 3,392 
Loans held for sale— 117 — 117 
Derivative financial instruments
Trading— 84 — 84 
Not for trading— 3 — 3 
Total derivative financial instruments— 87 — 87 
Total assets measured at fair value on a recurring basis$256 $3,339 $1 $3,596 
Liabilities Measured at Fair Value
Derivative financial instruments
Trading$— $419 $— $419 
Not for trading— 1 19 20 
Total derivative financial instruments— 420 19 439 
Total liabilities measured at fair value on a recurring basis$— $420 $19 $439 
(in millions)Level 1Level 2Level 3Total
December 31, 2021
Assets Measured at Fair Value
Debt securities available for sale
U.S. Treasury$204 $— $— $204 
U.S. government agencies— 155 — 155 
U.S. government-sponsored entities— 192 — 192 
Residential mortgage-backed securities:
Agency mortgage-backed securities— 1,357 — 1,357 
Agency collateralized mortgage obligations— 1,186 — 1,186 
Commercial mortgage-backed securities— 297 — 297 
States of the U.S. and political subdivisions (municipals)— 33 — 33 
Other debt securities— 2 — 2 
Total debt securities available for sale204 3,222 — 3,426 
Loans held for sale— 269 — 269 
Derivative financial instruments
Trading— 174 — 174 
Not for trading— 2 9 11 
Total derivative financial instruments— 176 9 185 
Total assets measured at fair value on a recurring basis$204 $3,667 $9 $3,880 
Liabilities Measured at Fair Value
Derivative financial instruments
Trading$— $44 $— $44 
Not for trading— 1 — 1 
Total derivative financial instruments— 45 — 45 
Total liabilities measured at fair value on a recurring basis$— $45 $— $45 
Additional Information about Assets Measured at Fair Value on Recurring Basis
The following table presents additional information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value:
TABLE 19.2
(in millions)Other
Debt
Securities		Interest
Rate
Lock
Commitments		Total
Nine Months Ended September 30, 2022
Balance at beginning of period$— $9 $9 
Purchases, issuances, sales and settlements:
Purchases2 — 2 
Issuances— — — 
Settlements(1)(9)(10)
Balance at end of period$1 $— $1 
Year Ended December 31, 2021
Balance at beginning of period$— $24 $24 
Purchases, issuances, sales and settlements:
Issuances— 9 9 
Settlements— (24)(24)
Balance at end of period$— $9 $9 
Additional Information about Assets Measured at Fair Value on Non-Recurring Basis For assets measured at fair value on a non-recurring basis still held at the Balance Sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios:
TABLE 19.3
(in millions)Level 1Level 2Level 3Total
September 30, 2022
Collateral dependent loans$— $— $17 $17 
Other assets - MSRs— — — — 
Other assets - SBA servicing asset— — 2 2 
Other real estate owned— — 3 3 
December 31, 2021
Collateral dependent loans$— $— $20 $20 
Other assets - MSRs— — 10 10 
Other assets - SBA servicing asset— — 3 3 
Other real estate owned— — 2 2 
Fair Values of Financial Instruments
The fair values of our financial instruments are as follows:
TABLE 19.4
  Fair Value Measurements
(in millions)Carrying
Amount		Fair
 Value		Level 1Level 2Level 3
September 30, 2022
Financial Assets
Cash and cash equivalents$2,276 $2,276 $2,276 $— $— 
Debt securities available for sale3,392 3,392 256 3,135 1 
Debt securities held to maturity3,820 3,349 — 3,349 — 
Net loans and leases, including loans held for sale28,544 26,768 — 117 26,651 
Loan servicing rights54 72 — — 72 
Derivative assets87 87 — 87 — 
Accrued interest receivable101 101 101 — — 
Financial Liabilities
Deposits33,893 33,804 30,994 2,810 — 
Short-term borrowings1,395 1,386 1,386 — — 
Long-term borrowings1,059 1,034 — — 1,034 
Derivative liabilities439 439 — 420 19 
Accrued interest payable14 14 14 — — 
December 31, 2021
Financial Assets
Cash and cash equivalents$3,493 $3,493 $3,493 $— $— 
Debt securities available for sale3,426 3,426 204 3,222 — 
Debt securities held to maturity3,463 3,506 — 3,506 — 
Net loans and leases, including loans held for sale24,919 24,518 — 269 24,249 
Loan servicing rights47 49 — — 49 
Derivative assets185 185 — 176 9 
Accrued interest receivable76 76 76 — — 
Financial Liabilities
Deposits31,726 31,725 28,867 2,858 — 
Short-term borrowings1,536 1,536 1,536 — — 
Long-term borrowings682 704 — — 704 
Derivative liabilities45 45 — 45 — 
Accrued interest payable10 10 10 — —