Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investment Securities [Abstract]

Investments

	March 31, 2013								December 31, 2012
			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	$	20,098	$	3,889	$	(88)	$	23,899	$	20,233	$	4,201	$	(302)	$	24,132
State and municipal		4,207		553		(112)		4,648		4,084		575		(113)		4,546
Residential mortgage-backed(a)		2,123		184		(90)		2,217		2,198		183		(119)		2,262
Commercial mortgage-backed		2,941		263		(78)		3,126		2,930		259		(95)		3,094
Asset-backed		5,621		36		(55)		5,602		5,784		31		(77)		5,738
Corporate – non-U.S.		2,409		155		(110)		2,454		2,391		150		(126)		2,415
Government – non-U.S.		1,904		131		(3)		2,032		1,617		149		(3)		1,763
U.S. government and
federal agency		3,404		86		0		3,490		3,462		103		0		3,565
Retained interests		74		17		0		91		76		7		0		83
Equity
Available-for-sale		404		122		(10)		516		513		86		(3)		596
Trading		186		0		0		186		245		0		0		245
Total	$	43,371	$	5,436	$	(546)	$	48,261	$	43,533	$	5,744	$	(838)	$	48,439

• Substantially collateralized by U.S. mortgages. Of our totalRMBSportfolio at March 31, 2013, $1,413 million relates to securities issued by government sponsored entities and $804 million relates 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

	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, 2013
Debt
U.S. corporate	$	722	$	(15)		$	414	$	(73)
State and municipal		232		(4)			327		(108)
Residential mortgage-backed		96		(1)			663		(89)
Commercial mortgage-backed		117		(1)			921		(77)
Asset-backed		11		(1)			568		(54)
Corporate – non-U.S.		240		(4)			606		(106)
Government – non-U.S.		554		(1)			38		(2)
U.S. government and federal agency		253		0			0		0
Retained interests		5		0			0		0
Equity		22		(10)			0		0
Total	$	2,252	$	(37)		$	3,537	$	(509)
December 31, 2012
Debt
U.S. corporate	$	434	$	(7)		$	813	$	(295)
State and municipal		146		(2)			326		(111)
Residential mortgage-backed		98		(1)			691		(118)
Commercial mortgage-backed		37		0			979		(95)
Asset-backed		18		(1)			658		(76)
Corporate – non-U.S.		167		(8)			602		(118)
Government – non-U.S.		201		(1)			37		(2)
U.S. government and federal agency		0		0			0		0
Retained interests		3		0			0		0
Equity		26		(3)			0		0
Total	$	1,130	$	(23)		$	4,106	$	(815)

• Includes gross unrealized losses at March 31, 2013 of $(111) million related to securities that had other-than-temporary impairments previously recognized.

Schedule of contractual maturities

(In millions)	Amortized		Estimated
	cost		fair value
Due
Within one year	$	2,957	$	2,972
After one year through five years		5,962		6,212
After five years through ten years		5,271		5,762
After ten years		17,832		21,577

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

	Three months ended March 31,
(In millions)	2013		2012
Gains	$	62	$	38
Losses, including impairments		(278)		(70)
Net	$	(216)	$	(32)