Investment Securities (Tables)
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12 Months Ended |
Dec. 31, 2011
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Investment Securities Disclosure [Abstract] |
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Investment Securities Summary |
Note 7 Investment Securities | | | | | | | | | | | | | | | | | | Investment Securities Summary | | | | | | | | | | | | | | | | | | | | | | Amortized | Unrealized | | Fair | | In millions | | Cost | Gains | Losses | | Value | | December 31, 2011 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Securities Available for Sale | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | 3,369 | | $ | 348 | | | | | $ | 3,717 | | | Residential mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 26,081 | | | 772 | | $ | (61) | | | 26,792 | | | | Non-agency | | | 6,673 | | | 152 | | | (1,268) | | | 5,557 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 1,101 | | | 39 | | | | | | 1,140 | | | | Non-agency | | | 2,693 | | | 80 | | | (17) | | | 2,756 | | | Asset-backed | | | 3,854 | | | 31 | | | (216) | | | 3,669 | | | State and municipal | | | 1,779 | | | 75 | | | (47) | | | 1,807 | | | Other debt | | | 2,691 | | | 83 | | | (12) | | | 2,762 | | | | Total debt securities | | | 48,241 | | | 1,580 | | | (1,621) | | | 48,200 | | Corporate stocks and other | | | 368 | | | | | | | | | 368 | | | Total securities available for sale | | $ | 48,609 | | $ | 1,580 | | $ | (1,621) | | $ | 48,568 | | Securities Held to Maturity | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | 221 | | $ | 40 | | | | | $ | 261 | | | Residential mortgage-backed (agency) | | | 4,761 | | | 131 | | $ | (1) | | | 4,891 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 1,332 | | | 50 | | | | | | 1,382 | | | | Non-agency | | | 3,467 | | | 108 | | | (2) | | | 3,573 | | | Asset-backed | | | 1,251 | | | 14 | | | (3) | | | 1,262 | | | State and municipal | | | 671 | | | 31 | | | | | | 702 | | | Other debt | | | 363 | | | 16 | | | | | | 379 | | | Total securities held to maturity | | $ | 12,066 | | $ | 390 | | $ | (6) | | $ | 12,450 | | | | | | | | | | | | | | | | | | December 31, 2010 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Securities Available for Sale | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | 5,575 | | $ | 157 | | $ | (22) | | $ | 5,710 | | | Residential mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 31,697 | | | 443 | | | (420) | | | 31,720 | | | | Non-agency | | | 8,193 | | | 230 | | | (1,190) | | | 7,233 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 1,763 | | | 40 | | | (6) | | | 1,797 | | | | Non-agency | | | 1,794 | | | 73 | | | (11) | | | 1,856 | | | Asset-backed | | | 2,780 | | | 40 | | | (238) | | | 2,582 | | | State and municipal | | | 1,999 | | | 30 | | | (72) | | | 1,957 | | | Other debt | | | 3,992 | | | 102 | | | (17) | | | 4,077 | | | | Total debt securities | | | 57,793 | | | 1,115 | | | (1,976) | | | 56,932 | | Corporate stocks and other | | | 378 | | | | | | | | | 378 | | | Total securities available for sale | | $ | 58,171 | | $ | 1,115 | | $ | (1,976) | | $ | 57,310 | | Securities Held to Maturity | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | Commercial mortgage-backed (non-agency) | | $ | 4,316 | | $ | 178 | | $ | (4) | | $ | 4,490 | | | Asset-backed | | | 2,626 | | | 51 | | | (1) | | | 2,676 | | | Other debt | | | 10 | | | 1 | | | | | | 11 | | | Total securities held to maturity | | $ | 6,952 | | $ | 230 | | $ | (5) | | $ | 7,177 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2009 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Securities Available for Sale | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | 7,548 | | $ | 20 | | $ | (48) | | $ | 7,520 | | | Residential mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 24,076 | | | 439 | | | (77) | | | 24,438 | | | | Non-agency | | | 10,419 | | | 236 | | | (2,353) | | | 8,302 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 1,299 | | | 10 | | | (12) | | | 1,297 | | | | Non-agency | | | 4,028 | | | 42 | | | (222) | | | 3,848 | | | Asset-backed | | | 2,019 | | | 30 | | | (381) | | | 1,668 | | | State and municipal | | | 1,346 | | | 58 | | | (54) | | | 1,350 | | | Other debt | | | 1,984 | | | 38 | | | (7) | | | 2,015 | | | | Total debt securities | | | 52,719 | | | 873 | | | (3,154) | | | 50,438 | | Corporate stocks and other | | | 360 | | | | | | | | | 360 | | | Total securities available for sale | | $ | 53,079 | | $ | 873 | | $ | (3,154) | | $ | 50,798 | | Securities Held to Maturity | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | Commercial mortgage-backed (non-agency) | | $ | 2,030 | | $ | 195 | | | | | $ | 2,225 | | | Asset-backed | | | 3,040 | | | 109 | | $ | (13) | | | 3,136 | | | Other debt | | | 159 | | | 1 | | | | | | 160 | | | Total securities held to maturity | | $ | 5,229 | | $ | 305 | | $ | (13) | | $ | 5,521 | |
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Gross Unrealized Loss and Fair Value of Securities Available for Sale |
Gross Unrealized Loss and Fair Value of Securities Available for Sale | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Unrealized loss position less | Unrealized loss position 12 | | | | | | | In millions | than 12 months | months or more | Total | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | | | | | Loss | | Value | | Loss | | Value | | Loss | | Value | | December 31, 2011 | | | | | | | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | | | | | | | Residential mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | $ | (24) | | $ | 2,165 | | $ | (37) | | $ | 408 | | $ | (61) | | $ | 2,573 | | | | Non-agency | | | (26) | | | 273 | | | (1,242) | | | 4,378 | | | (1,268) | | | 4,651 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | | | | | | | | | | | | | | | | | Non-agency | | | (17) | | | 483 | | | | | | | | | (17) | | | 483 | | | Asset-backed | | | (13) | | | 1,355 | | | (203) | | | 764 | | | (216) | | | 2,119 | | | State and municipal | | | (6) | | | 512 | | | (41) | | | 318 | | | (47) | | | 830 | | | Other debt | | | (5) | | | 240 | | | (7) | | | 289 | | | (12) | | | 529 | | | | | Total | | $ | (91) | | $ | 5,028 | | $ | (1,530) | | $ | 6,157 | | $ | (1,621) | | $ | 11,185 | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2010 | | | | | | | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | (22) | | $ | 398 | | | | | | | | $ | (22) | | $ | 398 | | | Residential mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | (406) | | | 17,040 | | $ | (14) | | $ | 186 | | | (420) | | | 17,226 | | | | Non-agency | | | (17) | | | 345 | | | (1,173) | | | 5,707 | | | (1,190) | | | 6,052 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | (6) | | | 344 | | | | | | | | | (6) | | | 344 | | | | Non-agency | | | (8) | | | 184 | | | (3) | | | 84 | | | (11) | | | 268 | | | Asset-backed | | | (5) | | | 441 | | | (233) | | | 776 | | | (238) | | | 1,217 | | | State and municipal | | | (22) | | | 931 | | | (50) | | | 247 | | | (72) | | | 1,178 | | | Other debt | | | (14) | | | 701 | | | (3) | | | 13 | | | (17) | | | 714 | | | | | Total | | $ | (500) | | $ | 20,384 | | $ | (1,476) | | $ | 7,013 | | $ | (1,976) | | $ | 27,397 | |
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Credit Impairment Assessment Assumptions - Non Agency Residential Mortgage-Backed and Asset-Backed Securities |
Credit Impairment Assessment Assumptions – Non-Agency Residential Mortgage-Backed and Asset-Backed Securities (a) | | | | | | | | | | | | | | | Weighted- | | December 31, 2011 | Range | | average (b) | | Long-term prepayment rate (annual CPR) | | | | | | | | | | Prime | | 7 | - | 20 | % | | 14 | % | | Alt-A | | 5 | - | 12 | | | 6 | | | Option ARM | | 3 | - | 6 | | | 3 | | Remaining collateral expected to default | | | | | | | | | | Prime | | 1 | - | 49 | % | | 19 | % | | Alt-A | | 1 | - | 59 | | | 34 | | | Option ARM | | 16 | - | 81 | | | 61 | | Loss severity | | | | | | | | | | Prime | | 5 | - | 70 | % | | 46 | % | | Alt-A | | 18 | - | 82 | | | 57 | | | Option ARM | | 41 | - | 69 | | | 58 | | (a) | | Collateralized by first and second-lien non-agency residential mortgage loans. | (b) | | Calculated by weighting the relevant assumption for each individual security by the current outstanding cost basis of the security. |
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Summary of OTTI Credit Losses Recognized in Earnings |
Summary of OTTI Credit Losses Recognized in Earnings | | | | Year ended December 31 | | | | | | | | In millions | 2011 | 2010 | | Available for sale securities: | | | | | | | | | Non-agency residential mortgage-backed | | $ | (130) | | $ | (242) | | | Non-agency commercial mortgage-backed | | | | | | (5) | | | Asset-backed | | | (21) | | | (78) | | | Other debt | | | (1) | | | | | Total | | $ | (152) | | $ | (325) | |
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Summary of OTTI Noncredit Losses Recognized in Accumulated Other Comprehensive Loss |
Summary of OTTI Noncredit Losses Included in Accumulated Other Comprehensive Loss | | | | | | | | | | | | | | | | In millions | | 2011 | | 2010 | | | Total | | $ | (268) | | $ | (283) | | |
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Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings |
Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings | | | | | | | | | | | | | | | | | | | | | | | | | | | | Non-agency | | Non-agency | | | | | | | | | | | | | | | | residential | | commercial | | | | | | | | | | | | | | In millions | mortgage-backed | | mortgage-backed | | Asset-backed | | Other debt | | Total | | December 31, 2009 (a) | | $ | (479) | | | | $ | (6) | | | | $ | (145) | | | | $ | (12) | | | $ | (642) | | Loss where impairment was not previously recognized | | | (44) | | | | | (3) | | | | | (17) | | | | | | | | | (64) | | Additional loss where credit impairment was previously recognized | | | (198) | | | | | (2) | | | | | (61) | | | | | | | | | (261) | | Reduction due to credit impaired securities sold | | | 12 | | | | | | | | | | | | | | | | | | | 12 | | December 31, 2010 | | | (709) | | | | | (11) | | | | | (223) | | | | | (12) | | | | (955) | | Loss where impairment was not previously recognized | | | (18) | | | | | | | | | | (3) | | | | | (1) | | | | (22) | | Additional loss where credit impairment was previously recognized | | | (112) | | | | | | | | | | (18) | | | | | | | | | (130) | | Reduction due to credit impaired securities sold | | | 11 | | | | | 5 | | | | | | | | | | | | | | 16 | | December 31, 2011 | | $ | (828) | | | | $ | (6) | | | | $ | (244) | | | | $ | (13) | | | $ | (1,091) | | (a) | Excludes OTTI credit losses related to equity securities totaling $4 million. | |
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Gains (Losses) on Sales Of Securities Available for Sale |
Gains (Losses) on Sales of Securities Available for Sale | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross | | Gross | | Net | | Tax | | In millions | | Proceeds | | Gains | | Losses | | Gains | | Expense | | For the year ended December 31 | | | | | | | | | | | | | | | | | 2011 | | $ | 21,039 | | $ | 406 | | $ | 157 | | $ | 249 | | $ | 87 | | 2010 | | | 23,783 | | | 490 | | | 64 | | | 426 | | | 149 | | 2009 | | | 18,901 | | | 570 | | | 20 | | | 550 | | | 192 | |
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Contractual Maturity of Debt Securities |
Contractual Maturity of Debt Securities | | | | | | | | | | | | | | | | | | | | | | | December 31, 2011 | | | | After 1 Year | | After 5 Years | | After 10 | | | | | Dollars in millions | | 1 Year or Less | | through 5 Years | | through 10 Years | | Years | | Total | | Securities Available for Sale | | | | | | | | | | | | | | | | | | | | | US Treasury and government agencies | | | | | | $ | 2,134 | | | $ | 835 | | | $ | 400 | | | $ | 3,369 | | Residential mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | | 29 | | | | 840 | | | | 25,212 | | | | 26,081 | | | Non-agency | | | | | | | | | | | 28 | | | | 6,645 | | | | 6,673 | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | | 740 | | | | 361 | | | | | | | | 1,101 | | | Non-agency | | $ | 27 | | | | 183 | | | | 49 | | | | 2,434 | | | | 2,693 | | Asset-backed | | | 68 | | | | 772 | | | | 627 | | | | 2,387 | | | | 3,854 | | State and municipal | | | 17 | | | | 68 | | | | 293 | | | | 1,401 | | | | 1,779 | | Other debt | | | 292 | | | | 1,322 | | | | 601 | | | | 476 | | | | 2,691 | | | Total debt securities available for sale | | $ | 404 | | | $ | 5,248 | | | $ | 3,634 | | | $ | 38,955 | | | $ | 48,241 | | Fair value | | $ | 407 | | | $ | 5,401 | | | $ | 3,860 | | | $ | 38,532 | | | $ | 48,200 | | Weighted-average yield, GAAP basis | | | 2.62 | % | | | 2.83 | % | | | 3.35 | % | | | 3.69 | % | | | 3.56 | % | Securities Held to Maturity | | | | | | | | | | | | | | | | | | | | | US Treasury and government agencies | | | | | | | | | | | | | | $ | 221 | | | $ | 221 | | Residential mortgage-backed (agency) | | | | | | | | | | | | | | | 4,761 | | | | 4,761 | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | $ | 162 | | | $ | 1,164 | | | | 6 | | | | 1,332 | | | Non-agency | | | | | | | 89 | | | | | | | | 3,378 | | | | 3,467 | | Asset-backed | | $ | 7 | | | | 794 | | | | 98 | | | | 352 | | | | 1,251 | | State and municipal | | | 8 | | | | 46 | | | | 127 | | | | 490 | | | | 671 | | Other debt | | | | | | | 2 | | | | 361 | | | | | | | | 363 | | Total debt securities held to maturity | | $ | 15 | | | $ | 1,093 | | | $ | 1,750 | | | $ | 9,208 | | | $ | 12,066 | | Fair value | | $ | 15 | | | $ | 1,109 | | | $ | 1,820 | | | $ | 9,506 | | | $ | 12,450 | | Weighted-average yield, GAAP basis | | | 2.86 | % | | | 2.49 | % | | | 3.29 | % | | | 4.44 | % | | | 4.09 | % |
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Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities |
Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities | | | | | | December 31 | | 2011 | Agency residential mortgage-backed securities | | 3.3 | years | Non-agency residential mortgage-backed securities | | 4.7 | years | Agency commercial mortgage-backed securities | | 5.4 | years | Non-agency commercial mortgage-backed securities | | 2.6 | years | Asset-backed securities | | 3.2 | years |
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Fair Value of Securities Pledged and Accepted as Collateral |
Fair Value of Securities Pledged and Accepted as Collateral | | | | | | | | | | | | | | | | | | | | December 31 | | December 31 | | In millions | | 2011 | | 2010 | | Pledged to others | | | $ | 20,109 | | | $ | 27,985 | | Accepted from others: | | | | | | | | | | | Permitted by contract or custom to sell or repledge | | | | 1,796 | | | | 3,529 | | | Permitted amount repledged to others | | | | 892 | | | | 1,971 | |
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