Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Investment Securities [Abstract]

Investments

	June 30, 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	$	19,924	$	2,662	$	(182)	$	22,404	$	20,233	$	4,201	$	(302)	$	24,132
State and municipal		4,195		296		(175)		4,316		4,084		575		(113)		4,546
Residential mortgage-backed(a)		2,034		150		(68)		2,116		2,198		183		(119)		2,262
Commercial mortgage-backed		2,905		191		(101)		2,995		2,930		259		(95)		3,094
Asset-backed		6,069		12		(94)		5,987		5,784		31		(77)		5,738
Corporate – non-U.S.		2,083		108		(99)		2,092		2,391		150		(126)		2,415
Government – non-U.S.		2,198		98		(8)		2,288		1,617		149		(3)		1,763
U.S. government and
federal agency		886		69		0		955		3,462		103		0		3,565
Retained interests		70		23		0		93		76		7		0		83
Equity
Available-for-sale		240		54		(17)		277		513		86		(3)		596
Trading		138		0		0		138		245		0		0		245
Total	$	40,742	$	3,663	$	(744)	$	43,661	$	43,533	$	5,744	$	(838)	$	48,439

• Substantially collateralized by U.S. mortgages. Of our totalRMBSportfolio at June 30, 2013, $1,346 million relates to securities issued by government-sponsored entities and $770 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)
June 30, 2013
Debt
U.S. corporate	$	1,907	$	(119)		$	365	$	(63)
State and municipal		962		(66)			295		(109)
Residential mortgage-backed		258		(10)			541		(58)
Commercial mortgage-backed		363		(28)			829		(73)
Asset-backed		5,203		(47)			422		(47)
Corporate – non-U.S.		81		(1)			621		(98)
Government – non-U.S.		1,316		(6)			38		(2)
U.S. government and federal agency		262		0			0		0
Retained interests		7		0			0		0
Equity		35		(17)			0		0
Total	$	10,394	$	(294)		$	3,111	$	(450)
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 June 30, 2013 of $(145) 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	$	2,675	$	2,689
After one year through five years		3,424		3,630
After five years through ten years		5,346		5,604
After ten years		17,841		20,132

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

	Three months ended June 30,				Six months ended June 30,
(In millions)	2013		2012		2013		2012
Gains	$	123	$	21	$	185	$	59
Losses, including impairments		(139)		(34)		(417)		(104)
Net	$	(16)	$	(13)	$	(232)	$	(45)