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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2019
Fair Value [Abstract]  
Fair Value Measurements - Recurring Basis Summary
Table 49: Fair Value Measurements – Recurring Basis Summary
 
June 30, 2019
 
 
December 31, 2018
 
In millions
Level 1

 
Level 2

 
Level 3

 
Total
Fair Value

 
 
Level 1

 
Level 2

 
Level 3

 
Total
Fair Value

 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans held for sale
 
 
$
695

 
$
2

 
$
697

 
 
 
 
$
493

 
$
2

 
$
495

 
Commercial mortgage loans held for sale
 
 
325

 
73

 
398

 
 
 
 
309

 
87

 
396

 
Securities available for sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
U.S. Treasury and government agencies
$
18,902

 
280

 
 
 
19,182

 
 
$
17,753

 
347

 
 
 
18,100

 
Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Agency
 
 
33,820

 
 
 
33,820

 
 
 
 
28,993

 
 
 
28,993

 
Non-agency
 
 
81

 
1,976

 
2,057

 
 
 
 
83

 
2,128

 
2,211

 
Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Agency
 
 
2,585

 
 
 
2,585

 
 
 
 
2,577

 
 
 
2,577

 
Non-agency
 
 
3,004

 
 
 
3,004

 
 
 
 
2,657

 
 
 
2,657

 
Asset-backed
 
 
5,158

 
261

 
5,419

 
 
 
 
4,698

 
274

 
4,972

 
Other
 
 
3,208

 
80

 
3,288

 
 
 
 
3,795

 
84

 
3,879

 
Total securities available for sale
18,902

 
48,136

 
2,317

 
69,355

 
 
17,753

 
43,150

 
2,486

 
63,389

 
Loans
 
 
496

 
259

 
755

 
 
 
 
510

 
272

 
782

 
Equity investments (a)
675

 
 
 
1,323

 
2,193

 
 
751

 
 
 
1,255

 
2,209

 
Residential mortgage servicing rights
 
 
 
 
997

 
997

 
 
 
 
 
 
1,257

 
1,257

 
Commercial mortgage servicing rights
 
 
 
 
630

 
630

 
 
 
 
 
 
726

 
726

 
Trading securities (b)
853

 
1,705

 
 
 
2,558

 
 
2,137

 
1,777

 
2

 
3,916

 
Financial derivatives (b) (c)
2

 
3,458

 
86

 
3,546

 
 
3

 
2,053

 
25

 
2,081

 
Other assets
322

 
135

 
 
 
457

 
 
291

 
157

 
45

 
493

 
Total assets
$
20,754

 
$
54,950

 
$
5,687

 
$
81,586

 
 
$
20,935


$
48,449


$
6,157


$
75,744

 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Other borrowed funds
$
709

 
$
199

 
$
5

 
$
913

 
 
$
868

 
$
132

 
$
7

 
$
1,007

 
Financial derivatives (c) (d)
5

 
1,776

 
221

 
2,002

 
 
1

 
2,021

 
268

 
2,290

 
Other liabilities
 
 
 
 
78

 
78

 
 
 
 
 
 
58

 
58

 
Total liabilities
$
714

 
$
1,975

 
$
304

 
$
2,993

 
 
$
869

 
$
2,153

 
$
333

 
$
3,355

 
(a)
Certain investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
(b)
Included in Other assets on the Consolidated Balance Sheet.
(c)
Amounts at June 30, 2019 and December 31, 2018 are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and cash collateral held or placed with the same counterparty. See Note 9 Financial Derivatives for additional information related to derivative offsetting.
(d)
Included in Other liabilities on the Consolidated Balance Sheet.
Reconciliation of Level 3 Assets and Liabilities
Table 50: Reconciliation of Level 3 Assets and Liabilities
Three Months Ended June 30, 2019
 
  
Total realized / unrealized
gains or losses for the 
period (a)
  
  
  
  
  
 
  
  
Unrealized
gains / losses
on assets and
liabilities held on
Consolidated
Balance Sheet at
June 30, 2019
(a) (b)
Level 3 Instruments Only
In millions
Fair Value Mar. 31, 2019

Included in
Earnings

Included
in Other
comprehensive
income
 
Purchases

Sales

Issuances

Settlements

Transfers
into
Level 3

 
Transfers
out of
Level 3

Fair
Value June 30, 2019

Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans
held for sale
$
2

 
 
 
$
1

 
 
 
$
1

 
$
(2
)
$
2

 
 
Commercial mortgage
loans held for sale
73

$
1

 
 
 
 
 
$
(1
)
 
 
 
73

$
1

 
Securities available for sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-
backed non-agency
2,042

18

 
$
19

 
 
 
(103
)
 
 
 
1,976

 
 
Asset-backed
266

2

 
4

 
 
 
(11
)
 
 
 
261

 
 
Other
85

 
 
(1
)
2

$
(3
)
 
(3
)
 
 
 
80

 
 
Total securities
available for sale
2,393

20


22

2

(3
)


(117
)





2,317

 
 
Loans
272

2

 
 
13

(8
)
(1
)
(11
)
1

 
(9
)
259

1

 
Equity investments
1,217

4

 
 
150

(48
)
 
 
 
 
 
1,323

3

 
Residential mortgage
servicing rights
1,131

(156
)
 
 
59

 
$
7

(44
)
 
 
 
997

(156
)
 
Commercial mortgage
servicing rights
681

(55
)
 
 
32

 
9

(37
)
 
 
 
630

(55
)
 
Trading securities
2

 
 
 
 
 
 
(2
)
 
 
 


 
 
Financial derivatives
56

48

 
 
(2
)
 
 
(16
)
 
 
 
86

45

 
Other assets
 
 
 
 
 
 
 
 
 
 
 


 
 
Total assets
$
5,827

$
(136
)
 
$
22

$
255

$
(59
)
$
15

$
(228
)
$
2


$
(11
)
$
5,687

$
(161
)
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other borrowed funds
$
6

 
 
 
 
 
$
12

$
(13
)
 
 
 
$
5

 
 
Financial derivatives
230

$
20

 
 
 
$
(1
)
 
(28
)
 
 
 
221

$
19

 
Other liabilities
62

11

 
 
 
2

51

(48
)
 
 
 
78

3

 
Total liabilities
$
298

$
31

 
 
 
$
1

$
63

$
(89
)
 
 
 
$
304

$
22

 
Net gains (losses)
 
$
(167
)
(c) 
 
 
 
 
 
 
 
 
 
$
(183
)
(d) 


Three Months Ended June 30, 2018
 
  
Total realized / unrealized
gains or losses for the 
period (a)
  
  
  
  
  
  
 
  
Unrealized gains/losses on assets and liabilities held on Consolidated Balance Sheet at June 30, 2018
(a) (b)
Level 3 Instruments Only
In millions
Fair Value Mar. 31, 2018

Included in Earnings

Included in Other comprehensive income
 
Purchases

Sales

Issuances

Settlements

Transfers into Level 3

Transfers out of Level 3

 
Fair Value June 30, 2018

Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans
held for sale
$
2

 
 
 
$
1


 
 
$
3

$
(2
)
 
$
4

 
 
Commercial mortgage
loans held for sale
92

$
(1
)
 
 
 



 
 
 
91

$
(1
)
 
Securities available for sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-
backed non-agency
2,545

1

 
$
5

 
 
 
$
(146
)
 
 
 
2,405

 
 
Asset-backed
321

1

 
(1
)
 

 
(13
)
 
 
 
308

 
 
Other
94


 
6

2


 
(11
)
 
 
 
91

 
 
Total securities
available for sale
2,960

2

 
10

2


 
(170
)
 
 
 
2,804

 
 
Loans
302

3

 
 
18

$
(2
)
 
(25
)
(2
)
(12
)
 
282

(1
)
 
Equity investments
1,129

62

 
 
79

(103
)
 
 
 
 
 
1,167

35

 
Residential mortgage
servicing rights
1,256

40

 
 
38

 
$
10

(47
)
 
 
 
1,297

35

 
Commercial mortgage
servicing rights
723

33

 
 
21

 
6

(35
)
 
 
 
748

33

 
Trading securities
2

 
 
 
 
 
 
 
 
 
 
2

 
 
Financial derivatives
12

17

 
 
1

 
 
(14
)
 
 
 
16

18

 
Other assets
68

(5
)
 
 
 
 
 

 
 
 
63

(5
)
 
Total assets
$
6,546

$
151

 
$
10

$
160

$
(105
)
$
16

$
(291
)
$
1

$
(14
)
 
$
6,474

$
114

 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other borrowed funds
$
9

 
 
 
 
 
$
13

$
(15
)
 
 
 
$
7

 
 
Financial derivatives
437

$
(33
)
 
 
 
$
2

 
(22
)
 
 
 
384

$
(31
)
 
Other liabilities
42

3

 
 

 
29

(27
)
 
 
 
47

3

 
Total liabilities
$
488

$
(30
)
 
 

$
2

$
42

$
(64
)
 
 
 
$
438

$
(28
)
 
Net gains (losses)
 
$
181

(c)
 
 
 
 
 
 
 
 
 
$
142

(d)


Six Months Ended June 30, 2019
 
  
Total realized / unrealized
gains or losses for the 
period (a)
  
  
  
  
  
  
 
  
Unrealized gains / losses on assets and liabilities held on Consolidated Balance Sheet at June 30, 2019 (a) (b)
Level 3 Instruments Only
In millions
Fair
Value
Dec. 31,
2018

Included in
Earnings

Included
in Other
comprehensive
income
 
Purchases

Sales

Issuances

Settlements

Transfers
into
Level 3

Transfers
out of
Level 3

 
Fair Value June 30, 2019

Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans
held for sale
$
2

 
 
 
$
2

$
(1
)
 
 
$
4

$
(5
)
 
$
2

 
 
Commercial mortgage
loans held for sale
87

$
2

 
 
 
 
 
$
(16
)
 
 
 
73

$
2

 
Securities available for sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-
backed non-agency
2,128

36

 
$
21

 
 
 
(209
)
 
 
 
1,976

 
 
Asset-backed
274

2

 
6

 
 
 
(21
)
 
 
 
261

 
 
Other
84

 
 
(1
)
3

(3
)
 
(3
)
 
 
 
80

 
 
Total securities
available for sale
2,486

38

 
26

3

(3
)
 
(233
)
 

 
2,317


 
Loans
272

5

 
 
33

(11
)
(1
)
(25
)
3

(17
)
 
259

2

 
Equity investments
1,255

56

 
 
195

(183
)
 
 
 
 
 
1,323

3

 
Residential mortgage
servicing rights
1,257

(262
)
 
 
65

 
$
14

(77
)
 
 
 
997

(261
)
 
Commercial mortgage
servicing rights
726

(88
)
 
 
51

 
16

(75
)
 
 
 
630

(88
)
 
Trading securities
2

 
 
 
 
 
 
(2
)
 
 
 

 
 
Financial derivatives
25

87

 
 
 
 
 
(26
)
 
 
 
86

(13
)
 
Other assets
45

 
 
 
 
 
 
(45
)
 
 
 

 
 
Total assets
$
6,157

$
(162
)
 
$
26

$
349

$
(198
)
$
29

$
(499
)
$
7

$
(22
)
 
$
5,687

$
(355
)
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other borrowed funds
$
7

 
 
 
 
 
$
26

$
(28
)
 
 
 
$
5

 
 
Financial derivatives
268

$
50

 
 
 
1

 
(98
)
 
 
 
221

$
53

 
Other liabilities
58

20

 
 
 
2

53

(55
)
 
 
 
78

11

 
Total liabilities
$
333

$
70

 
 

$
3

$
79

$
(181
)
 
 
 
$
304

$
64

 
Net gains (losses)
 
$
(232
)
(c) 
 
 
 
 
 
 
 
 
 
$
(419
)
(d) 


Six Months Ended June 30, 2018
 
  
Total realized / unrealized
gains or losses for the 
period (a)
  
  
  
  
  
  
 
  
Unrealized gains/losses on assets and liabilities held on Consolidated Balance Sheet at June 30, 2018 (a) (b)
Level 3 Instruments Only
In millions
Fair
Value
Dec. 31,
2017

Included in
Earnings

Included
in Other
comprehensive
income
 
Purchases

Sales

Issuances

Settlements

Transfers
into
Level 3

Transfers
out of
Level 3

 
Fair Value June 30, 2018

Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans
held for sale
$
3

 
 
 
$
2

$
(1
)
 
 
$
5

$
(5
)
 
$
4

 
 
Commercial mortgage
loans held for sale
107

$
(1
)
 
 
 


$
(15
)
 
 
 
91

$
(1
)
 
Securities available for sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-
backed non-agency
2,661

20

 
$
8

 
 
 
(284
)
 
 
 
2,405


 
Asset-backed
332


 
4

 

 
(28
)
 
 
 
308

 
 
Other
87

5

 
7

4


 
(12
)
 
 
 
91

 
 
Total securities
available for sale
3,080

25


19

4



(324
)



2,804


 
Loans
298

5

 
 
55

(9
)
 
(43
)

(24
)
 
282

1

 
Equity investments
1,036

88

 
 
161

(118
)
 
 
 

 
1,167

60

 
Residential mortgage
servicing rights
1,164

147

 
 
47

 
$
23

(84
)
 
 
 
1,297

140

 
Commercial mortgage
servicing rights
668

81

 
 
44

 
23

(68
)
 
 
 
748

81

 
Trading securities
2

 
 
 
 
 
 
 
 
 
 
2

 
 
Financial derivatives
10

24

 
 
2

 
 
(20
)
 
 
 
16

27

 
Other assets
107

(2
)
 
 
 
 
 
(42
)
 
 
 
63

(2
)
 
Total assets
$
6,475

$
367


$
19

$
315

$
(128
)
$
46

$
(596
)
$
5

$
(29
)

$
6,474

$
306

 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other borrowed funds
$
11

 
 
 
 
 
$
32

$
(36
)
 
 
 
$
7

 
 
Financial derivatives
487

$
(23
)
 
 
 
$
5

 
(85
)
 
 
 
384

$
(26
)
 
Other liabilities
33

5

 
 
$
12

 
34

(37
)
 
 
 
47

5

 
Total liabilities
$
531

$
(18
)



$
12

$
5

$
66

$
(158
)





$
438

$
(21
)
 
Net gains (losses)
 
$
385

(c)
 
 
 
 
 
 
 
 
 
$
327

(d)
(a)
Losses for assets are bracketed while losses for liabilities are not.
(b)
The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period.
(c)
Net gains (losses) realized and unrealized included in earnings related to Level 3 assets and liabilities included amortization and accretion. The amortization and accretion amounts were included in Interest income on the Consolidated Income Statement and the remaining net gains (losses) realized and unrealized were included in Noninterest income on the Consolidated Income Statement.
(d)
Net unrealized gains (losses) related to assets and liabilities held at the end of the reporting period were included in Noninterest income on the Consolidated Income Statement.
Fair Value Measurements - Recurring Quantitative Information
Table 51: Fair Value Measurements – Recurring Quantitative Information

June 30, 2019
Level 3 Instruments Only
Dollars in millions
Fair Value

Valuation Techniques
Unobservable Inputs
Range (Weighted-Average)
Commercial mortgage loans held for sale
$
73

Discounted cash flow
Spread over the benchmark curve (a)
530bps - 2,270bps (1,477bps)
Residential mortgage-backed
non-agency securities
1,976

Priced by a third-party vendor using a discounted cash flow pricing model
Constant prepayment rate
1.0% - 36.2% (10.1%)
Constant default rate
0.0% - 15.9% (4.7%)
Loss severity
15.0% - 95.7% (50.0%)
Spread over the benchmark curve (a)
190bps weighted-average
Asset-backed securities
261

Priced by a third-party vendor using a discounted cash flow pricing model
Constant prepayment rate
1.0% - 22.0% (8.1%)
Constant default rate
1.0% - 7.2% (3.5%)
Loss severity
15.0% - 100.0% (60.6%)
Spread over the benchmark curve (a)
190bps weighted-average
Loans
129

Consensus pricing (b)
Cumulative default rate
11.0% - 100.0% (81.2%)
Loss severity
0.0% - 100.0% (16.4%)
Discount rate
5.5% - 8.3% (5.8%)
 
81

Discounted cash flow
Loss severity
8.0% weighted-average
Discount rate
5.0% weighted-average
 
49

Consensus pricing (b)
Credit and Liquidity discount
0.0% - 99.0% (61.9%)
Equity investments
1,323

Multiple of adjusted earnings
Multiple of earnings
5.0x - 19.7x (8.6x)
Residential mortgage servicing rights
997

Discounted cash flow
Constant prepayment rate
0.0% - 65.0% (13.6%)
Spread over the benchmark curve (a)
296bps - 1,428bps (786bps)
Commercial mortgage servicing rights
630

Discounted cash flow
Constant prepayment rate
3.8% - 18.3% (4.9%)
Discount rate
5.6% - 7.9% (7.9%)
Financial derivatives - Swaps related to
sales of certain Visa Class B
common shares
(206
)
Discounted cash flow
Estimated conversion factor of Visa Class B shares into Class A shares
163.0% weighted-average
Estimated annual growth rate of Visa Class A share price
16.0%
Estimated length of litigation resolution date
Q4 2020
Insignificant Level 3 assets, net of
liabilities (c)
70

 
 
 
Total Level 3 assets, net of liabilities (d)
$
5,383

 
 
 
December 31, 2018
Level 3 Instruments Only
Dollars in millions
Fair Value

Valuation Techniques
Unobservable Inputs
Range (Weighted-Average)
Commercial mortgage loans held for sale
$
87

Discounted cash flow
Spread over the benchmark curve (a)
535bps - 1,900bps (1,217bps)
Residential mortgage-backed
non-agency securities
2,128

Priced by a third-party vendor using a discounted cash flow pricing model
Constant prepayment rate
1.0% - 33.0% (11.8%)
Constant default rate
0.0% - 18.8% (5.1%)
Loss severity
10.0% - 100.0% (50.8%)
Spread over the benchmark curve (a)
216bps weighted-average
Asset-backed securities
274

Priced by a third-party vendor using a discounted cash flow pricing model
Constant prepayment rate
1.0% - 19.0% (8.5%)
Constant default rate
1.0% - 18.5% (4.0%)
Loss severity
15.0% - 100.0% (63.8%)
Spread over the benchmark curve (a)
198bps weighted-average
Loans
129

Consensus pricing (b)
Cumulative default rate
11.0% - 100.0% (81.8%)
Loss severity
0.0% - 100.0% (17.2%)
Discount rate
5.5% - 8.3% (5.8%)
 
90

Discounted cash flow
Loss severity
8.0% weighted-average
Discount rate
5.8% weighted-average
 
53

Consensus pricing (b)
Credit and Liquidity discount
0.0% - 99.0% (61.3%)
Equity investments
1,255

Multiple of adjusted earnings
Multiple of earnings
4.5x - 16.0x (8.4x)
Residential mortgage servicing rights
1,257

Discounted cash flow
Constant prepayment rate
0.0% - 54.5% (8.7%)
Spread over the benchmark curve (a)
492bps - 1,455bps (806bps)
Commercial mortgage servicing rights
726

Discounted cash flow
Constant prepayment rate
4.6% - 14.7% (5.7%)
Discount rate
6.9% - 8.5% (8.4%)
Financial derivatives - Swaps related to
sales of certain Visa Class B
common shares
(210
)
Discounted cash flow
Estimated conversion factor of Visa Class B shares into Class A shares
163.0% weighted-average
Estimated annual growth rate of Visa Class A share price
16.0%
Estimated length of litigation
resolution date
Q4 2020
Insignificant Level 3 assets, net of
liabilities (c)
35

 
 
 
Total Level 3 assets, net of liabilities (d)
$
5,824

 
 
 
(a)
The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest rate risks, such as credit and liquidity risks.
(b)
Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices.
(c)
Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, trading securities, other securities, residential mortgage loans held for sale, other assets, other borrowed funds and other liabilities.
(d)
Consisted of total Level 3 assets of $5.7 billion and total Level 3 liabilities of $.3 billion as of June 30, 2019 and $6.1 billion and $.3 billion as of December 31, 2018, respectively.
Fair Value Measurements - Nonrecurring
Table 52: Fair Value Measurements – Nonrecurring (a) (b) (c)
 
Fair Value
 
Gains (Losses)
Three months ended
 
Gains (Losses)
Six months ended
 
In millions
June 30
2019

 
December 31
2018

 
June 30
2019

 
June 30
2018

 
June 30
2019

 
June 30
2018

 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
Nonaccrual loans
$
160

 
$
128

 
$
(34
)
 
$
(15
)
 
$
(44
)
 
$
(33
)
 
OREO and foreclosed assets
36

 
59

 
(2
)
 
(3
)
 
(4
)
 
(2
)
 
Long-lived assets
6

 
11

 
(4
)
 
(6
)
 
(4
)
 
(6
)
 
Total assets
$
202

 
$
198

 
$
(40
)
 
$
(24
)
 
$
(52
)
 
$
(41
)
 
(a)
All Level 3 for the periods presented.
(b)
Valuation techniques applied were fair value of property or collateral.
(c)
Unobservable inputs used were appraised value/sales price, broker opinions or projected income/required improvement costs. Additional quantitative information was not meaningful for the periods presented.
Fair Value Option - Fair Value and Principal Balances
Table 53: Fair Value Option – Fair Value and Principal Balances
 
June 30, 2019
 
December 31, 2018
 
In millions
Fair Value

 
Aggregate Unpaid
Principal Balance

 
Difference

 
Fair Value

 
Aggregate Unpaid
Principal Balance

 
Difference

 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans held for sale
 
 
 
 
 
 
 
 
 
 
 
 
Performing loans
$
690

 
$
666

 
$
24

 
$
489

 
$
472

 
$
17

 
Accruing loans 90 days or more past due
2

 
2

 


 
2

 
2

 


 
Nonaccrual loans
5

 
6

 
(1
)
 
4

 
4

 

 
Total
$
697

 
$
674

 
$
23

 
$
495

 
$
478

 
$
17

 
Commercial mortgage loans held for sale (a)
 
 
 
 
 
 
 
 
 
 
 
 
Performing loans
$
397

 
$
409

 
$
(12
)
 
$
396

 
$
411

 
$
(15
)
 
Nonaccrual loans
1

 
2

 
(1
)
 

 

 

 
Total
$
398

 
$
411

 
$
(13
)
 
$
396

 
$
411

 
$
(15
)
 
Residential mortgage loans
 
 
 
 
 
 
 
 
 
 
 
 
Performing loans
$
307

 
$
324

 
$
(17
)
 
$
279

 
$
298

 
$
(19
)
 
Accruing loans 90 days or more past due
275

 
284

 
(9
)
 
321

 
329

 
(8
)
 
Nonaccrual loans
173

 
277

 
(104
)
 
182

 
292

 
(110
)
 
Total
$
755

 
$
885

 
$
(130
)
 
$
782

 
$
919

 
$
(137
)
 
Other assets
$
135

 
$
129

 
$
6

 
$
156

 
$
176

 
$
(20
)
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Other borrowed funds
$
54

 
$
55

 
$
(1
)
 
$
64

 
$
65

 
$
(1
)
 
(a)
There were no accruing loans 90 days or more past due within this category at June 30, 2019 or December 31, 2018.
Fair Value Option - Changes in Fair Value
Table 54: Fair Value Option – Changes in Fair Value (a)
 
Gains (Losses)
 
Gains (Losses)
 
 
Three months ended
 
Six months ended
 
 
June 30

 
June 30

 
June 30

 
June 30

 
In millions
2019

 
2018

 
2019

 
2018

 
Assets
 
 
 
 
 
 
 
 
Residential mortgage loans held for sale
$
20

 
$
8

 
$
34

 
$
12

 
Commercial mortgage loans held for sale
$
18

 
$
11

 
$
23

 
$
25

 
Residential mortgage loans
$
5

 
$
7

 
$
9

 
$
10

 
Other assets
$
12

 
$
(21
)
 
$
21

 
$
(10
)
 
(a)
The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts.
Additional Fair Value Information Related to Other Financial Instruments
Table 55: Additional Fair Value Information Related to Other Financial Instruments
 
Carrying

 
Fair Value
 
In millions
Amount

 
Total

 
Level 1

 
Level 2

 
Level 3

 
June 30, 2019
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
$
5,416

 
$
5,416

 
$
5,416

 
 
 
 
 
Interest-earning deposits with banks
18,362

 
18,362

 
 
 
$
18,362

 
 
 
Securities held to maturity
18,948

 
19,199

 
820

 
18,217

 
$
162

 
Net loans (excludes leases)
226,330

 
229,686

 
 
 
 
 
229,686

 
Other assets
6,720

 
6,720

 
 
 
6,719

 
1

 
Total assets
$
275,776

 
$
279,383

 
$
6,236

 
$
43,298

 
$
229,849

 
Liabilities
 
 
 
 
 
 
 
 
 
 
Time deposits
$
19,718

 
$
19,497

 
 
 
$
19,497

 
 
 
Borrowed funds
68,112

 
68,612

 
 
 
66,730

 
$
1,882

 
Unfunded loan commitments and letters of credit
291

 
291

 
 
 
 
 
291

 
Other liabilities
432

 
432

 
 
 
432

 
 
 
Total liabilities
$
88,553

 
$
88,832

 
 
 
$
86,659

 
$
2,173

 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
$
5,608

 
$
5,608

 
$
5,608

 
 
 
 
 
Interest-earning deposits with banks
10,893

 
10,893

 
 
 
$
10,893

 
 
 
Securities held to maturity
19,312

 
19,019

 
763

 
18,112

 
$
144

 
Net loans (excludes leases)
215,525

 
216,492

 
 
 
 
 
216,492

 
Other assets
11,065

 
11,065

 
 
 
11,060

 
5

 
Total assets
$
262,403

 
$
263,077

 
$
6,371

 
$
40,065

 
$
216,641

 
Liabilities
 
 
 
 
 
 
 
 
 
 
Time deposits
$
18,507

 
$
18,246

 
 
 
$
18,246

 
 
 
Borrowed funds
56,412

 
56,657

 
 
 
54,872

 
$
1,785

 
Unfunded loan commitments and letters of credit
285

 
285

 
 
 
 
 
285

 
Other liabilities
393

 
393

 
 
 
393

 
 
 
Total liabilities
$
75,597

 
$
75,581

 

 
$
73,511

 
$
2,070