Investment Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

	March 31, 2015								December 31, 2014
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
(In millions)	cost		gains		losses		fair value		cost		gains		losses		fair value

Debt
U.S. corporate	$	20,015	$	4,322	$	(52)	$	24,285	$	19,889	$	3,967	$	(69)	$	23,787
State and municipal		4,967		667		(50)		5,584		5,181		624		(56)		5,749
Residential mortgage-backed(a)		1,129		100		(4)		1,225		1,578		153		(6)		1,725
Commercial mortgage-backed		2,421		181		(5)		2,597		2,903		170		(10)		3,063
Asset-backed		301		11		(17)		295		8,084		9		(175)		7,918
Corporate – non-U.S.		914		137		(1)		1,050		1,021		115		(1)		1,135
Government – non-U.S.		1,287		182		(1)		1,468		1,646		152		(2)		1,796
U.S. government and federal agency		5,029		86		-		5,115		1,957		56		-		2,013
Retained interests		16		1		-		17		16		1		-		17
Equity
Available-for-sale		144		55		(1)		198		197		58		(1)		254
Trading		19		-		-		19		21		-		-		21
Total	$	36,242	$	5,742	$	(131)	$	41,853	$	42,493	$	5,305	$	(320)	$	47,478

(a) Substantially collateralized by U.S. mortgages. At March 31, 2015, $1,191 million related to securities issued by government-sponsored entities and $34 million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions.

Schedule of investments, by type and length in continuous loss position

ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF AVAILABLE-FOR-SALE INVESTMENT SECURITIES

	In loss position for
	Less than 12 months					12 months or more
			Gross					Gross
	Estimated		unrealized			Estimated		unrealized
(In millions)	fair value		losses		(a)	fair value		losses		(a)

March 31, 2015
Debt
U.S. corporate	$	820	$	(22)		$	295	$	(30)
State and municipal		206		(2)			203		(48)
Residential mortgage-backed		127		(1)			97		(3)
Commercial mortgage-backed		101		-			26		(5)
Asset-backed		58		-			77		(17)
Corporate – non-U.S.		27		(1)			2		-
Government – non-U.S.		403		(1)			-		-
U.S. government and federal agency		1,497		-			1		-
Equity		11		(1)			-		-
Total	$	3,250	$	(28)		$	701	$	(103)	(b)

December 31, 2014
Debt
U.S. corporate	$	554	$	(16)		$	836	$	(53)
State and municipal		81		(1)			348		(55)
Residential mortgage-backed		30		-			159		(6)
Commercial mortgage-backed		165		(1)			204		(9)
Asset-backed		7,493		(158)			77		(17)
Corporate – non-U.S.		42		(1)			3		-
Government – non-U.S.		677		(2)			14		-
U.S. government and federal agency		705		-			1		-
Retained interests		-		-			-		-
Equity		14		(1)			-		-
Total	$	9,761	$	(180)		$	1,642	$	(140)

(a) Included gross unrealized losses related to securities that had other-than-temporary impairments previously recognized of an insignificant amount at March 31, 2015.

(b) The majority relate to debt securities held to support obligations to holders of GICs and more than 70% are debt securities that were considered to be investment-grade by the major rating agencies at March 31, 2015.

Pre Tax Other Than Temporary Impairments On Investment Securities [Table Text Block]

PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES

	Three months ended March 31
(In millions)	2015		2014

Total pre-tax, OTTI recognized	$	3	$	10
Pre-tax, OTTI recognized in AOCI		-		(4)
Pre-tax, OTTI recognized in earnings(a)	$	3	$	6

(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of an insignificant amount and $1 million in the three months ended March 31, 2015 and 2014, respectively.

Changes in Cumulative Cerdit Loss Impairments Recognized on Debt Securities Still Held

CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD

	Three months ended March 31
(In millions)	2015		2014

Cumulative credit loss impairments recognized, beginning of period	$	557	$	853
Credit loss impairments recognized on securities not previously impaired		-		-
Incremental credit loss impairments recognized on securities previously impaired		-		1
Less credit loss impairments previously recognized on securities sold
during the period or that we intend to sell		4		51
Cumulative credit loss impairments recognized, end of period	$	553	$	803

Schedule of contractual maturities

CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES)

	Amortized		Estimated
(In millions)	cost		fair value

Due
Within one year	$	4,719	$	4,732
After one year through five years		3,694		3,955
After five years through ten years		5,146		5,634
After ten years		18,653		23,181

Supplemental gross realized gains losses on available-for-sale investment securities

GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES

	Three months ended March 31
(In millions)	2015		2014

Gains	$	97	$	13
Losses, including impairments		(14)		(7)
Net	$	83	$	6

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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