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Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
The table below presents the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities, other debt securities carried at fair value and HTM debt securities at December 31, 2022 and 2021.
Debt Securities
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
(Dollars in millions)December 31, 2022December 31, 2021
Available-for-sale debt securities
Mortgage-backed securities:
Agency$25,204 $5 $(1,767)$23,442 $45,268 $1,257 $(186)$46,339 
Agency-collateralized mortgage obligations2,452 — (231)2,221 3,331 74 (25)3,380 
Commercial6,894 28 (515)6,407 19,036 647 (79)19,604 
Non-agency residential (1)
461 15 (90)386 591 25 (33)583 
Total mortgage-backed securities35,011 48 (2,603)32,456 68,226 2,003 (323)69,906 
U.S. Treasury and government agencies160,773 18 (1,769)159,022 197,853 1,610 (318)199,145 
Non-U.S. securities13,455 4 (52)13,407 11,933 — — 11,933 
Other taxable securities4,728 1 (84)4,645 2,725 39 (3)2,761 
Tax-exempt securities11,518 19 (279)11,258 15,155 317 (39)15,433 
Total available-for-sale debt securities 225,485 90 (4,787)220,788 295,892 3,969 (683)299,178 
Other debt securities carried at fair value (2)
8,986 376 (156)9,206 8,873 105 (83)8,895 
Total debt securities carried at fair value234,471 466 (4,943)229,994 304,765 4,074 (766)308,073 
Held-to-maturity debt securities
Agency mortgage-backed securities503,233 — (87,319)415,914 553,721 3,855 (10,366)547,210 
U.S. Treasury and government agencies121,597 — (20,259)101,338 111,859 254 (2,395)109,718 
Other taxable securities8,033 — (1,018)7,015 9,011 147 (196)8,962 
Total held-to-maturity debt securities632,863 — (108,596)524,267 674,591 4,256 (12,957)665,890 
Total debt securities (3,4)
$867,334 $466 $(113,539)$754,261 $979,356 $8,330 $(13,723)$973,963 
(1)At December 31, 2022 and 2021, the underlying collateral type included approximately 17 percent and 21 percent prime and 83 percent and 79 percent subprime.
(2)Primarily includes non-U.S. securities used to satisfy certain international regulatory requirements. Any changes in value are reported in market making and similar activities. For detail on the components, see Note 20 – Fair Value Measurements.
(3)Includes securities pledged as collateral of $104.5 billion and $111.9 billion at December 31, 2022 and 2021.
(4)The Corporation held debt securities from FNMA and FHLMC that each exceeded 10 percent of shareholders’ equity, with an amortized cost of $290.5 billion and $176.7 billion, and a fair value of $239.6 billion and $144.6 billion at December 31, 2022, and an amortized cost of $345.3 billion and $205.3 billion, and a fair value of $342.5 billion and $202.4 billion at December 31, 2021.
Gross Realized Gains (Losses) on Sales of Available For Sale Debt The gross realized gains and losses on sales of AFS debt securities for 2022, 2021 and 2020 are presented in the table below.
Gains and Losses on Sales of AFS Debt Securities
(Dollars in millions)202220212020
Gross gains$1,251 $49 $423 
Gross losses(1,219)(27)(12)
   Net gains on sales of AFS debt securities$32 $22 $411 
Income tax expense attributable to realized net gains on sales of AFS debt securities
$8 $5 $103 
Amortized Cost and Fair Value of Corporations Investment
The table below presents the fair value and the associated gross unrealized losses on AFS debt securities and whether these securities have had gross unrealized losses for less than 12 months or for 12 months or longer at December 31, 2022 and 2021.
Total AFS Debt Securities in a Continuous Unrealized Loss Position
Less than Twelve MonthsTwelve Months or LongerTotal
Fair
Value		Gross
 Unrealized
 Losses		Fair
Value		Gross
 Unrealized
 Losses		Fair
Value		Gross
 Unrealized
 Losses
(Dollars in millions)December 31, 2022
Continuously unrealized loss-positioned AFS debt securities
Mortgage-backed securities:   
Agency$18,759 $(1,118)$4,437 $(649)$23,196 $(1,767)
Agency-collateralized mortgage obligations1,165 (96)1,022 (135)2,187 (231)
Commercial3,273 (150)2,258 (365)5,531 (515)
Non-agency residential264 (65)97 (25)361 (90)
Total mortgage-backed securities23,461 (1,429)7,814 (1,174)31,275 (2,603)
U.S. Treasury and government agencies36,730 (308)118,636 (1,461)155,366 (1,769)
Non-U.S. securities9,399 (34)756 (18)10,155 (52)
Other taxable securities2,036 (16)1,580 (68)3,616 (84)
Tax-exempt securities607 (28)2,849 (251)3,456 (279)
Total AFS debt securities in a continuous
   unrealized loss position		$72,233 $(1,815)$131,635 $(2,972)$203,868 $(4,787)
December 31, 2021
Continuously unrealized loss-positioned AFS debt securities
Mortgage-backed securities:
Agency$11,733 $(166)$815 $(20)$12,548 $(186)
Agency-collateralized mortgage obligations1,427 (22)122 (3)1,549 (25)
Commercial3,451 (41)776 (38)4,227 (79)
Non-agency residential241 (13)174 (20)415 (33)
Total mortgage-backed securities16,852 (242)1,887 (81)18,739 (323)
U.S. Treasury and government agencies103,307 (272)4,850 (46)108,157 (318)
Other taxable securities— — 82 (3)82 (3)
Tax-exempt securities502 (16)109 (23)611 (39)
Total AFS debt securities in a continuous
   unrealized loss position		$120,661 $(530)$6,928 $(153)$127,589 $(683)
Expected Maturity Distribution
The remaining contractual maturity distribution and yields of the Corporation’s debt securities carried at fair value and HTM debt securities at December 31, 2022 are summarized in the table below. Actual duration and yields may differ as prepayments on the loans underlying the MBS or other ABS are passed through to the Corporation.
Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities
Due in One
Year or Less		Due after One Year
through Five Years		Due after Five Years
through Ten Years		Due after
Ten Years		Total
(Dollars in millions)Amount
Yield (1)
Amount
Yield (1)
Amount
Yield (1)
Amount
Yield (1)
Amount
Yield (1)
Amortized cost of debt securities carried at fair value          
Mortgage-backed securities:          
Agency$— — %$3 5.67 %$56 4.39 %$25,145 3.37 %$25,204 3.37 %
Agency-collateralized mortgage obligations— — 10 2.60 — — 2,442 2.89 2,452 2.89 
Commercial22 2.09 670 3.07 4,591 2.03 1,624 2.31 6,907 2.20 
Non-agency residential— — — — — — 825 9.54 825 9.54 
Total mortgage-backed securities22 2.09 683 3.08 4,647 2.06 30,036 3.44 35,388 3.25 
U.S. Treasury and government agencies3,306 1.59 79,618 1.68 78,378 1.64 32 3.38 161,334 1.66 
Non-U.S. securities17,499 2.41 3,002 4.58 723 3.93 279 6.87 21,503 2.82 
Other taxable securities2,034 4.77 2,102 4.85 455 3.46 137 3.35 4,728 4.64 
Tax-exempt securities890 3.36 4,765 3.55 2,022 3.73 3,841 3.88 11,518 3.68 
Total amortized cost of debt securities carried at fair value
$23,751 2.53 $90,170 1.96 $86,225 1.74 $34,325 3.52 $234,471 2.16 
Amortized cost of HTM debt securities
Agency mortgage-backed securities$— — %$— — %$14 2.64 %$503,219 2.13 %$503,233 2.13 %
U.S. Treasury and government agencies— — 4,544 1.80 117,053 1.37 — — 121,597 1.39 
Other taxable securities38 9.06 1,251 2.23 313 3.00 6,431 2.45 8,033 2.47 
Total amortized cost of HTM debt securities$38 9.06 $5,795 1.89 $117,380 1.37 $509,650 2.13 $632,863 1.99 
Debt securities carried at fair value          
Mortgage-backed securities:          
Agency$—  $3  $56  $23,383  $23,442  
Agency-collateralized mortgage obligations—  10  —  2,211  2,221  
Commercial22  650  4,342  1,404  6,418  
Non-agency residential—  2  —  751  753  
Total mortgage-backed securities22 665 4,398 27,749 32,834 
U.S. Treasury and government agencies3,312 79,013 77,228 30 159,583 
Non-U.S. securities17,709  2,960  723  279  21,671  
Other taxable securities2,028  2,085  413  122  4,648  
Tax-exempt securities887  4,729  1,997  3,645  11,258  
Total debt securities carried at fair value$23,958  $89,452  $84,759  $31,825  $229,994  
Fair value of HTM debt securities
Agency mortgage-backed securities$— $— $13 $415,901 $415,914 
U.S. Treasury and government agencies— 4,164 97,174 — 101,338 
Other taxable securities38 1,170 295 5,512 7,015 
Total fair value of HTM debt securities$38 $5,334 $97,482 $421,413 $524,267 
(1)The weighted-average yield is computed based on a constant effective interest rate over the contractual life of each security. The average yield considers the contractual coupon and the amortization of premiums and accretion of discounts, excluding the effect of related hedging derivatives.