Financial Derivatives (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Total Gross Derivatives

Table 81: Total Gross Derivatives
			March 31, 2016						December 31, 2015
			Notional/		Asset		Liability		Notional/		Asset		Liability
			Contract		Fair		Fair		Contract		Fair		Fair
In millions			Amount		Value (a)		Value (b)		Amount		Value (a)		Value (b)
Derivatives designated as hedging instruments under GAAP		$	51,508	$	1,663	$	301	$	52,074	$	1,159	$	174
Derivatives not designated as hedging instruments under GAAP			316,988		5,267		4,934		295,902		3,782		3,628
Total gross derivatives		$	368,496	$	6,930	$	5,235	$	347,976	$	4,941	$	3,802
(a)	Included in Other assets on our Consolidated Balance Sheet.
(b)	Included in Other liabilities on our Consolidated Balance Sheet.

Derivatives Designated as Hedging Instruments under GAAP

Table 82: Derivatives Designated As Hedging Instruments under GAAP
					March 31, 2016						December 31, 2015
				Notional/		Asset		Liability		Notional/		Asset		Liability
				Contract		Fair		Fair		Contract		Fair		Fair
In millions				Amount		Value (a)		Value (b)		Amount		Value (a)		Value (b)
	Interest rate contracts:
		Fair value hedges:
			Receive-fixed swaps	$	25,928	$	1,064			$	25,756	$	699	$	18
			Pay-fixed swaps (c)		5,934			$	301		5,934		13		153
			Subtotal		31,862		1,064		301		31,690		712		171
		Cash flow hedges:
			Receive-fixed swaps		17,413		534				17,879		412		2
			Forward purchase commitments		1,150		6				1,400		4		1
			Subtotal		18,563		540				19,279		416		3
	Foreign exchange contracts:
		Net investment hedges			1,083		59				1,105		31
Total derivatives designated as hedging instruments				$	51,508	$	1,663	$	301	$	52,074	$	1,159	$	174
(a)		Included in Other assets on our Consolidated Balance Sheet.
(b)		Included in Other liabilities on our Consolidated Balance Sheet.
(c)		Includes zero-coupon swaps.

Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges

Table 83: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges
					Three months ended
					March 31, 2016				March 31, 2015
						Gain (Loss)				Gain (Loss)
				Gain		on Related		Gain		on Related
				(Loss) on		Hedged		(Loss) on		Hedged
				Derivatives		Items		Derivatives		Items
				Recognized		Recognized		Recognized		Recognized
In millions		Hedged Items	Location	in Income		in Income		in Income		in Income
Interest rate contracts		U.S. Treasury and Government Agencies Securities and Other Debt Securities	Investment securities (interest income)
				$	(154)	$	158	$	(52)	$	54
Interest rate contracts		Subordinated debt and Bank notes and senior debt	Borrowed funds
			(interest expense)		407		(432)		157		(172)
Total (a)				$	253	$	(274)	$	105	$	(118)
(a)	The ineffective portion of the change in value of our fair value hedge derivatives resulted in net losses of $21 million for the first three months of 2016 compared with net losses of $13 million for the first three months of 2015.

Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges

Further detail regarding gains (losses) on derivatives and related cash flows is presented in the following table:
Table 84: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b)
			Three months ended
				March 31
In millions				2016		2015
Gains (losses) on derivatives recognized in OCI - (effective portion)			$	265	$	298
Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion)
	Interest income			65		68
	Noninterest income					(9)
Total gains (losses) reclassified from accumulated OCI into income - (effective portion)			$	65	$	59
Net unrealized gains (losses) on cash flow hedge derivatives			$	200	$	239
(a)		All cash flow hedge derivatives are interest rate contracts as of March 31, 2016 and March 31, 2015.
(b)		The amount of cash flow hedge ineffectiveness recognized in income was not material for the periods presented.

Derivatives Not Designated as Hedging Instruments under GAAP

Further detail regarding the notional amounts and fair values related to derivatives not designated in hedge relationships is presented in the following table:
Table 85: Derivatives Not Designated As Hedging Instruments under GAAP
					March 31, 2016						December 31, 2015
In millions				Notional / Contract Amount		Asset Fair Value (a)		Liability Fair Value (b)		Notional / Contract Amount		Asset Fair Value (a)		Liability Fair Value (b)
Derivatives used for residential mortgage banking activities:
Residential mortgage servicing
	Interest rate contracts:
		Swaps		$	36,925	$	1,225	$	793	$	37,505	$	758	$	416
		Swaptions			1,103		39		23		650		27		14
		Futures (c)			20,626						17,653
		Futures options			18,000		2		3		6,000				1
		Mortgage-backed securities commitments			4,280		12		5		3,920		4		8
			Subtotal		80,934		1,278		824		65,728		789		439
Loan sales
	Interest rate contracts:
		Futures (c)			10						20
		Bond options			200						200		2
		Mortgage-backed securities commitments			5,113		8		14		6,363		16		8
		Residential mortgage loan commitments			1,950		22				1,580		16
			Subtotal		7,273		30		14		8,163		34		8
			Subtotal	$	88,207	$	1,308	$	838	$	73,891	$	823	$	447
Derivatives used for commercial mortgage banking activities:
	Interest rate contracts:
		Swaps		$	4,186	$	129	$	68	$	3,945	$	77	$	46
		Swaptions									439
		Futures (c)			15,450						18,454
		Commercial mortgage loan commitments			1,380		14		8		1,176		11		6
			Subtotal		21,016		143		76		24,014		88		52
	Credit contracts				58						77
			Subtotal	$	21,074	$	143	$	76	$	24,091	$	88	$	52
Derivatives used for customer-related activities:
	Interest rate contracts:
		Swaps		$	163,175	$	3,445	$	3,424	$	157,041	$	2,507	$	2,433
		Caps/floors - Sold			5,277				7		5,337				11
		Caps/floors - Purchased			6,617		19				6,383		18
		Swaptions			4,963		144		11		4,363		86		13
		Futures (c)			1,632						1,673
		Mortgage-backed securities commitments			3,457		11		10		1,910		5		2
			Subtotal		185,121		3,619		3,452		176,707		2,616		2,459
	Foreign exchange contracts				11,261		178		157		10,888		194		198
	Credit contracts				5,775		3		6		5,026		2		4
			Subtotal	$	202,157	$	3,800	$	3,615	$	192,621	$	2,812	$	2,661
Derivatives used for other risk management activities:
	Foreign exchange contracts			$	2,995	$	16	$	88	$	2,742	$	59	$	6
	Other contracts (d)				2,555				317		2,557				462
			Subtotal		5,550		16		405		5,299		59		468
Total derivatives not designated as hedging instruments				$	316,988	$	5,267	$	4,934	$	295,902	$	3,782	$	3,628
(a)		Included in Other assets on our Consolidated Balance Sheet.
(b)		Included in Other liabilities on our Consolidated Balance Sheet.
(c)		Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet.
(d)		Includes PNC's obligation to fund a portion of certain BlackRock LTIP programs and the swaps entered into in connection with sales of a portion of Visa Class B common shares.

Gains (Losses) on Derivatives Not Designated as Hedging Instruments under GAAP

Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table:
Table 86: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP
				Three months ended
				March 31
In millions				2016		2015
Derivatives used for residential mortgage banking activities:
Residential mortgage servicing
	Interest rate contracts		$	195	$	98
Loan sales
	Interest rate contracts			(7)		21
		Gains (losses) included in residential mortgage banking activities (a)	$	188	$	119
Derivatives used for commercial mortgage banking activities:
	Interest rate contracts (b) (c)		$	53	$	30
	Credit contracts (c)					(1)
		Gains (losses) from commercial mortgage banking activities	$	53	$	29
Derivatives used for customer-related activities:
	Interest rate contracts		$	(4)	$	4
	Foreign exchange contracts			29		1
		Gains (losses) from customer-related activities (c)	$	25	$	5
Derivatives used for other risk management activities:
	Interest rate contracts
	Foreign exchange contracts		$	(95)	$	183
	Other contracts (d)			(4)		(7)
		Gains (losses) from other risk management activities (c)	$	(99)	$	176
Total gains (losses) from derivatives not designated as hedging instruments			$	167	$	329
(a)		Included in Residential mortgage noninterest income.
(b)		Included in Corporate services noninterest income.
(c)		Included in Other noninterest income.
(d)		Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares.

Derivative Assets And Liabilities Offsetting

Table 87: Derivative Assets and Liabilities Offsetting
						Amounts							Securities Collateral
						Offset on the							Held/(Pledged)
						Consolidated Balance Sheet							Under Master
March 31, 2016				Gross		Fair Value		Cash		Net			Netting		Net
In millions				Fair Value		Offset Amount		Collateral		Fair Value			Agreements		Amounts
Derivative assets
	Interest rate contracts:
		Cleared	$	1,844	$	1,651	$	152	$	41				$	41
		Exchange-traded		2						2					2
		Over-the-counter		4,828		2,010		481		2,337		$	296		2,041
	Foreign exchange contracts			253		112		12		129			1		128
	Credit contracts			3		1		1		1					1
		Total derivative assets	$	6,930	$	3,774	$	646	$	2,510	(a)	$	297	$	2,213
Derivative liabilities
	Interest rate contracts:
		Cleared	$	1,923	$	1,651	$	243	$	29				$	29
		Exchange-traded		3						3					3
		Over-the-counter		2,741		1,996		663		82					82
	Foreign exchange contracts			245		123		35		87					87
	Credit contracts			6		4		2
	Other contracts			317						317					317
		Total derivative liabilities	$	5,235	$	3,774	$	943	$	518	(b)			$	518
December 31, 2015
In millions
Derivative assets
	Interest rate contracts:
		Cleared	$	1,003	$	779	$	195	$	29				$	29
		Over-the-counter		3,652		1,645		342		1,665		$	178		1,487
	Foreign exchange contracts			284		129		13		142			2		140
	Credit contracts			2		1		1
		Total derivative assets	$	4,941	$	2,554	$	551	$	1,836	(a)	$	180	$	1,656
Derivative liabilities
	Interest rate contracts:
		Cleared	$	855	$	779	$	57	$	19				$	19
		Exchange-traded		1						1					1
		Over-the-counter		2,276		1,687		530		59					59
	Foreign exchange contracts			204		85		20		99					99
	Credit contracts			4		3		1
	Other contracts			462						462					462
		Total derivative liabilities	$	3,802	$	2,554	$	608	$	640	(b)			$	640
(a)		Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet.
(b)		Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet.