Investment Securities (Tables)
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12 Months Ended |
Dec. 31, 2012
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Investment Securities Disclosure [Abstract] |
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Investment Securities Summary |
Note 8 Investment Securities | | | | | | | | | | | | | | | | | | Table 83: Investment Securities Summary | | | | | | | | | | | | | | | | | | | | | | Amortized | Unrealized | | Fair | | In millions | | Cost | Gains | Losses | | Value | | December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Securities Available for Sale | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | 2,868 | | $ | 245 | | | | | $ | 3,113 | | | Residential mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 25,844 | | | 952 | | $ | (12) | | | 26,784 | | | | Non-agency | | | 6,102 | | | 314 | | | (309) | | | 6,107 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 602 | | | 31 | | | | | | 633 | | | | Non-agency | | | 3,055 | | | 210 | | | (1) | | | 3,264 | | | Asset-backed | | | 5,667 | | | 65 | | | (79) | | | 5,653 | | | State and municipal | | | 2,197 | | | 111 | | | (21) | | | 2,287 | | | Other debt | | | 2,745 | | | 103 | | | (4) | | | 2,844 | | | | Total debt securities | | | 49,080 | | | 2,031 | | | (426) | | | 50,685 | | Corporate stocks and other | | | 367 | | | | | | | | | 367 | | | Total securities available for sale | | $ | 49,447 | | $ | 2,031 | | $ | (426) | | $ | 51,052 | | Securities Held to Maturity | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | US Treasury and government agencies | | $ | 230 | | $ | 47 | | | | | $ | 277 | | | Residential mortgage-backed (agency) | | | 4,380 | | | 202 | | | | | | 4,582 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | Agency | | | 1,287 | | | 87 | | | | | | 1,374 | | | | Non-agency | | | 2,582 | | | 85 | | | | | | 2,667 | | | Asset-backed | | | 858 | | | 5 | | | | | | 863 | | | State and municipal | | | 664 | | | 61 | | | | | | 725 | | | Other debt | | | 353 | | | 19 | | | | | | 372 | | | Total securities held to maturity | | $ | 10,354 | | $ | 506 | | | | | $ | 10,860 | | | | | | | | | | | | | | | | | | 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 | |
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Gross Unrealized Loss and Fair Value of Securities Available for Sale |
Table 84: 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, 2012 | | | | | | | | | | | | | | | | | | | | Debt securities | | | | | | | | | | | | | | | | | | | | | Residential mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | $ | (9) | | $ | 1,128 | | $ | (3) | | $ | 121 | | $ | (12) | | $ | 1,249 | | | | Non-agency | | | (3) | | | 219 | | | (306) | | | 3,185 | | | (309) | | | 3,404 | | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | | | | | | | | | | | | | | | | | Non-agency | | | (1) | | | 60 | | | | | | | | | (1) | | | 60 | | | Asset-backed | | | (1) | | | 370 | | | (78) | | | 625 | | | (79) | | | 995 | | | State and municipal | | | (2) | | | 240 | | | (19) | | | 518 | | | (21) | | | 758 | | | Other debt | | | (2) | | | 61 | | | (2) | | | 15 | | | (4) | | | 76 | | | | | Total | | $ | (18) | | $ | 2,078 | | $ | (408) | | $ | 4,464 | | $ | (426) | | $ | 6,542 | | | | | | | | | | | | | | | | | | | | | | | | | 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 | | | | | | | | | | | | | | | | | | | | | | 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 | |
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Credit Impairment Assessment Assumptions - Non Agency Residential Mortgage-Backed and Asset-Backed Securities |
Table 85: Credit Impairment Assessment Assumptions - Non-Agency Residential Mortgage-Backed and Asset-Backed Securities (a) | | | | | | | | | | | | | | | Weighted- | | December 31, 2012 | 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 | | 0 | - | 51 | % | | 19 | % | | Alt-A | | 2 | - | 61 | | | 33 | | | Option ARM | | 19 | - | 73 | | | 52 | | Loss severity | | | | | | | | | | Prime | | 25 | - | 72 | % | | 46 | % | | Alt-A | | 30 | - | 85 | | | 60 | | | Option ARM | | 40 | - | 70 | | | 60 | | (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 |
Table 86: Summary of OTTI Credit Losses Recognized in Earnings | | | | Year ended December 31 | | | | | | | | In millions | 2012 | 2011 | | Available for sale securities: | | | | | | | | | Non-agency residential mortgage-backed | | $ | (99) | | $ | (130) | | | Asset-backed | | | (11) | | | (21) | | | Other debt | | | (1) | | | (1) | | Total | | $ | (111) | | $ | (152) | |
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Summary of OTTI Noncredit (Losses) Recoveries Recognized in Accumulated Other Comprehensive Income (Loss) |
Table 87: Summary of OTTI Noncredit (Losses) Recoveries Included in Accumulated Other Comprehensive Income (Loss) | | | | | | | | | | | | | | | | In millions | | 2012 | | 2011 | | | Total | | $ | 32 | | $ | (268) | | |
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Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings |
Table 88: 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, 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) | | Loss where impairment was not previously recognized | | | (9) | | | | | | | | | | | | | | | (1) | | | | (10) | | Additional loss where credit impairment was previously recognized | | | (90) | | | | | | | | | | (11) | | | | | | | | | (101) | | Reduction due to credit impaired securities sold | | | 1 | | | | | | | | | | | | | | | | | | | 1 | | December 31, 2012 | | $ | (926) | | | | $ | (6) | | | | $ | (255) | | | | $ | (14) | | | $ | (1,201) | |
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Gains (Losses) on Sales Of Securities Available for Sale |
Table 89: 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 | | | | | | | | | | | | | | | | | 2012 | | $ | 9,441 | | $ | 214 | | $ | (10) | | $ | 204 | | $ | 71 | | 2011 | | | 21,039 | | | 406 | | | (157) | | | 249 | | | 87 | | 2010 | | | 23,783 | | | 490 | | | (64) | | | 426 | | | 149 | |
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Contractual Maturity of Debt Securities |
Table 90: Contractual Maturity of Debt Securities | | | | | | | | | | | | | | | | | | | | | | | December 31, 2012 | | | | 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 | | | $ | 1,096 | | | $ | 1,321 | | | $ | 449 | | | $ | 2,868 | | Residential mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | | 22 | | | | 488 | | | | 25,334 | | | | 25,844 | | | Non-agency | | | | | | | 2 | | | | 17 | | | | 6,083 | | | | 6,102 | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | 1 | | | | 550 | | | | 51 | | | | | | | | 602 | | | Non-agency | | | | | | | 174 | | | | 106 | | | | 2,775 | | | | 3,055 | | Asset-backed | | | | | | | 1,063 | | | | 1,511 | | | | 3,093 | | | | 5,667 | | State and municipal | | | 24 | | | | 51 | | | | 447 | | | | 1,675 | | | | 2,197 | | Other debt | | | 390 | | | | 1,389 | | | | 575 | | | | 391 | | | | 2,745 | | | Total debt securities available for sale | | $ | 417 | | | $ | 4,347 | | | $ | 4,516 | | | $ | 39,800 | | | $ | 49,080 | | Fair value | | $ | 420 | | | $ | 4,490 | | | $ | 4,729 | | | $ | 41,046 | | | $ | 50,685 | | Weighted-average yield, GAAP basis | | | 2.83 | % | | | 2.57 | % | | | 2.44 | % | | | 3.37 | % | | | 3.21 | % | Securities Held to Maturity | | | | | | | | | | | | | | | | | | | | | US Treasury and government agencies | | | | | | | | | | | | | | $ | 230 | | | $ | 230 | | Residential mortgage-backed (agency) | | | | | | | | | | | | | | | 4,380 | | | | 4,380 | | Commercial mortgage-backed | | | | | | | | | | | | | | | | | | | | | | Agency | | | | | | $ | 318 | | | $ | 964 | | | | 5 | | | | 1,287 | | | Non-agency | | $ | 1 | | | | 53 | | | | | | | | 2,528 | | | | 2,582 | | Asset-backed | | | | | | | 124 | | | | 64 | | | | 670 | | | | 858 | | State and municipal | | | 25 | | | | 25 | | | | 279 | | | | 335 | | | | 664 | | Other debt | | | | | | | 1 | | | | 352 | | | | | | | | 353 | | Total debt securities held to maturity | | $ | 26 | | | $ | 521 | | | $ | 1,659 | | | $ | 8,148 | | | $ | 10,354 | | Fair value | | $ | 26 | | | $ | 538 | | | $ | 1,777 | | | $ | 8,519 | | | $ | 10,860 | | Weighted-average yield, GAAP basis | | | 1.73 | % | | | 3.39 | % | | | 3.44 | % | | | 4.03 | % | | | 3.90 | % |
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Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities |
Table 91: Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities | | | | | | December 31 | | 2012 | Agency residential mortgage-backed securities | | 3.3 | years | Non-agency residential mortgage-backed securities | | 5.4 | years | Agency commercial mortgage-backed securities | | 4.7 | years | Non-agency commercial mortgage-backed securities | | 2.6 | years | Asset-backed securities | | 4.1 | years |
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Fair Value of Securities Pledged and Accepted as Collateral |
Table 92: Fair Value of Securities Pledged and Accepted as Collateral | | | | | | | | | | | | | | | | | | | | December 31 | | December 31 | | In millions | | 2012 | | 2011 | | Pledged to others | | | $ | 25,648 | | | $ | 20,109 | | Accepted from others: | | | | | | | | | | | Permitted by contract or custom to sell or repledge | | | | 1,015 | | | | 1,796 | | | Permitted amount repledged to others | | | | 685 | | | | 892 | |
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