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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale
The major components of our AFS investment securities portfolio at March 31, 2022 and December 31, 2021 are as follows:
 March 31, 2022
(Dollars in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Carrying
Value
AFS securities, at fair value:
U.S. Treasury securities$17,152 $6 $(519)$16,639 
U.S. agency debentures162 — (11)151 
Foreign government debt securities59 — — 59 
Residential MBS:
Agency-issued MBS7,471 1 (626)6,846 
Agency-issued CMO—fixed rate911 — (51)860 
Agency-issued CMBS1,532 — (96)1,436 
Total AFS securities$27,287 $7 $(1,303)$25,991 

 December 31, 2021
(Dollars in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Carrying
Value
AFS securities, at fair value:
U.S. Treasury securities$15,799 $121 $(70)$15,850 
U.S. agency debentures200 — (4)196 
Foreign government debt securities61 — — 61 
Residential MBS:
Agency-issued MBS8,786 13 (210)8,589 
Agency-issued CMO—fixed rate988 3 (9)982 
Agency-issued CMBS1,536 27 (20)1,543 
Total AFS securities$27,370 $164 $(313)$27,221 
Activity of Available-for-Sale Securities
The following table summarizes sale activity of AFS securities during the three months ended March 31, 2022 and 2021 as recorded in the line item “Gains on investment securities, net," a component of noninterest income:
 Three months ended March 31,
(Dollars in millions)20222021
Sales proceeds$5,099 $— 
Net realized gains and losses:
Gross realized gains144 — 
Gross realized losses(95)— 
Net realized gains$49 $— 
Summary of Unrealized Losses on Available for Sale Securities The following tables summarize our AFS securities in an unrealized loss position for which an ACL has not been recorded and summarized into categories of less than 12 months, or 12 months or longer, as of March 31, 2022 and December 31, 2021:
 March 31, 2022
 Less than 12 months12 months or longerTotal
(Dollars in millions)Fair Value of
Investments		Unrealized
Losses		Fair Value of
Investments		Unrealized
Losses		Fair Value of
Investments		Unrealized
Losses
AFS securities:
U.S. Treasury securities $13,377 $(515)$46 $(4)$13,423 $(519)
U.S. agency debentures76 (2)74 (9)150 (11)
Residential MBS:
Agency-issued MBS2,548 (193)4,027 (433)6,575 (626)
Agency-issued CMO —fixed rate782 (44)71 (7)853 (51)
Agency-issued CMBS1,254 (70)183 (26)1,437 (96)
Total AFS securities (1)$18,037 $(824)$4,401 $(479)$22,438 $(1,303)
(1)As of March 31, 2022, we identified a total of 627 investments that were in unrealized loss positions with 132 investments in an unrealized loss position for a period of time greater than 12 months. Based on our analysis of the securities in an unrealized loss position as of March 31, 2022, the decline in value is unrelated to credit loss and is related to changes in market interest rates since purchase and therefore changes in value for securities are included in other comprehensive income. Market valuations and credit loss analyses on assets in the AFS securities portfolio are reviewed and monitored on a quarterly basis. As of March 31, 2022, we do not intend to sell any of our securities in an unrealized loss position prior to recovery of our amortized cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our amortized cost basis. None of the investments in our AFS securities portfolio were past due as of March 31, 2022.
 December 31, 2021
 Less than 12 months12 months or longer Total
(Dollars in millions)Fair Value of
Investments		Unrealized
Losses		Fair Value of
Investments		Unrealized
Losses		Fair Value of
Investments		Unrealized
Losses
AFS securities:
U.S. Treasury securities$7,777 $(70)$— $— $7,777 $(70)
U.S. agency debentures196 (4)— — 196 (4)
Residential MBS:
Agency-issued MBS8,280 (210)— — 8,280 (210)
Agency-issued CMO—fixed rate740 (9)— — 740 (9)
Agency-issued CMBS603 (11)163 (9)766 (20)
Total AFS securities (1)$17,596 $(304)$163 $(9)$17,759 $(313)
(1)As of December 31, 2021, we identified a total of 475 investments that were in unrealized loss positions, of which 4 investments are in an unrealized loss position for a period of time greater than 12 months. None of the investments in our AFS securities portfolio were past due as of December 31, 2021.
Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Securities
The following table summarizes the fixed income securities, carried at fair value, classified as AFS as of March 31, 2022 by the remaining contractual principal maturities. For U.S. Treasury securities, U.S. agency debentures and foreign government debt securities, the expected maturity is the actual contractual maturity of the notes. Expected maturities for MBS may differ significantly from their contractual maturities because mortgage borrowers have the right to prepay outstanding loan obligations with or without penalties. MBS classified as AFS typically have original contractual maturities from 10 to 30 years whereas expected average lives of these securities tend to be significantly shorter and vary based upon structure and prepayments in lower interest rate environments.
 March 31, 2022
(Dollars in millions)TotalOne Year
or Less		After One
Year to
Five Years		After Five
Years to
Ten Years		After
Ten Years
U.S. Treasury securities$16,639 $25 $16,614 $— $— 
U.S. agency debentures151 41 35 75 — 
Foreign government debt securities59 59 — — — 
Residential MBS:
Agency-issued MBS6,846 — — — 6,846 
Agency-issued CMO—fixed rate860 — — — 860 
Agency-issued CMBS1,436 — 105 1,331 — 
Total$25,991 $125 $16,754 $1,406 $7,706 
The following table summarizes the remaining contractual principal maturities on fixed income investment securities classified as HTM as of March 31, 2022. For U.S. agency debentures, the expected maturity is the actual contractual maturity of the notes. Expected remaining maturities for certain U.S. agency debentures may occur earlier than their contractual maturities because the note issuers have the right to call outstanding amounts ahead of their contractual maturity. Expected maturities for MBS may differ significantly from their contractual maturities because mortgage borrowers have the right to prepay outstanding loan obligations with or without penalties. MBS classified as HTM typically have original contractual maturities from 10 to 30 years whereas expected average lives of these securities tend to be significantly shorter and vary based upon structure and prepayments in lower interest rate environments; however, we expect to collect substantially all of the recorded investment on these securities.
 March 31, 2022
 TotalOne Year
or Less		After One Year to
Five Years		After Five Years to
Ten Years		After
Ten Years
(Dollars in millions)Net Carry ValueFair Value Net Carry ValueFair Value Net Carry ValueFair Value Net Carry ValueFair Value Amortized CostFair Value
U.S. agency debentures$536 $512 $4 $4 $109 $106 $423 $402 $— $— 
Residential MBS:
Agency-issued MBS63,517 59,080 — — 6 6 1,181 1,161 62,330 57,913 
Agency-issued CMO—fixed rate11,231 10,431 — — 31 31 266 259 10,934 10,141 
Agency-issued CMO—variable rate93 93 — — — — — — 93 93 
Agency-issued CMBS15,141 14,118 32 32 178 170 970 904 13,961 13,012 
Municipal bonds and notes7,483 6,776 37 37 187 186 1,231 1,190 6,028 5,363 
Corporate bonds706 657 — — 52 49 654 608 — — 
Total$98,707 $91,667 $73 $73 $563 $548 $4,725 $4,524 $93,346 $86,522 
Held-to-maturity Securities
The components of our HTM investment securities portfolio at March 31, 2022 and December 31, 2021 are as follows:
 March 31, 2022
(Dollars in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair ValueACL
HTM securities, at cost:
U.S. agency debentures (1)$536 $— $(24)$512 $— 
Residential MBS:
Agency-issued MBS63,517 7 (4,444)59,080 — 
Agency-issued CMO—fixed rate11,231 — (800)10,431 — 
Agency-issued CMO—variable rate93 — — 93 — 
Agency-issued CMBS15,141 7 (1,030)14,118 — 
Municipal bonds and notes7,484 34 (742)6,776 1 
Corporate bonds711 — (54)657 5 
Total HTM securities$98,713 $48 $(7,094)$91,667 $6 
(1)    Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States.
 December 31, 2021
(Dollars in millions)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair ValueACL
HTM securities, at amortized cost:
U.S. agency debentures (1)$609 $8 $(2)$615 $— 
Residential MBS:
Agency-issued MBS64,439 124 (887)63,676 — 
Agency-issued CMO—fixed rate10,226 9 (145)10,090 — 
Agency-issued CMO—variable rate100 1 — 101 — 
Agency-issued CMBS14,959 39 (277)14,721 — 
Municipal bonds and notes7,157 185 (27)7,315 1 
       Corporate bonds712 2 (5)709 6 
Total HTM securities$98,202 $368 $(1,343)$97,227 $7 
(1)    Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States.
Debt Securities, Held-to-maturity, Credit Quality Indicator On a quarterly basis, management monitors the credit quality for HTM securities through the use of standard credit ratings. The following table summarizes our amortized cost of HTM securities aggregated by credit quality indicator at March 31, 2022 and December 31, 2021:
(Dollars in millions)March 31, 2022December 31, 2021
Municipal bonds and notes:
Aaa$4,141 $3,774 
Aa11,991 2,031 
Aa21,153 1,154 
Aa3172 172 
A127 26 
Total municipal bonds and notes$7,484 $7,157 
Corporate bonds:
Aaa$39 $39 
Aa242 42 
Aa3105 105 
A1283 251 
A2231 264 
A311 11 
Total corporate bonds$711 $712 
Schedule of Nonmarketable and Other Securities
The major components of our non-marketable and other equity securities portfolio at March 31, 2022 and December 31, 2021 are as follows:
(Dollars in millions)March 31, 2022December 31, 2021
Non-marketable and other equity securities:
Non-marketable securities (fair value accounting):
Consolidated venture capital and private equity fund investments (1)$196 $130 
Unconsolidated venture capital and private equity fund investments (2)210 208 
Other investments without a readily determinable fair value (3)169 164 
Other equity securities in public companies (fair value accounting) (4)55 117 
Non-marketable securities (equity method accounting) (5):
Venture capital and private equity fund investments721 671 
Debt funds5 5 
Other investments292 294 
Investments in qualified affordable housing projects, net (6)957 954 
Total non-marketable and other equity securities$2,605 $2,543 
(1)The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at March 31, 2022 and December 31, 2021 (fair value accounting):
 March 31, 2022December 31, 2021
(Dollars in millions)AmountOwnership %AmountOwnership %
Strategic Investors Fund, LP$3 12.6 %$2 12.6 %
Capital Preferred Return Fund, LP 61 20.0 61 20.0 
Growth Partners, LP 65 33.0 67 33.0 
Redwood Evergreen Fund, LP67 100.0 — — 
Total consolidated venture capital and private equity fund investments$196 $130 
(2)The carrying value represents investments in 150 funds (primarily venture capital funds) at both March 31, 2022 and December 31, 2021, where our ownership interest is typically less than 5% of the voting interests of each such fund and in which we do not have the ability to exercise significant influence over the partnerships operating activities and financial policies. We carry our unconsolidated venture capital and private equity fund investments at fair value based on the fund investments' net asset values per share as obtained from the general partners of the investments. For each fund investment, we adjust the net asset value per share for differences between our measurement date and the date of the fund investment’s net asset value by using the most recently available financial information from the investee general partner, for example December 31st for our March 31st consolidated financial statements, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period.
(3)These investments include direct equity investments in private companies. The carrying value is based on the price at which the investment was acquired plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. We consider a range of factors when adjusting the fair value of these investments, including, but not limited to, the term and nature of the investment, local market conditions, values for comparable securities, current and projected operating performance, exit strategies, financing transactions subsequent to the acquisition of the investment and a discount for certain investments that have lock-up restrictions or other features that indicate a discount to fair value is warranted.
The following table shows the changes to the carrying amount of other investments without a readily determinable fair value for the three months ended March 31, 2022:
(Dollars in millions)Three months ended March 31, 2022Cumulative Adjustments
Measurement alternative:
Carrying value at March 31, 2022$169 
Carrying value adjustments:
Impairment$— $1 
Upward changes for observable prices— 72 
Downward changes for observable prices— (11)
(4)Investments classified as other equity securities (fair value accounting) represent shares held in public companies as a result of exercising public equity warrant assets and direct equity investments in public companies held by our consolidated funds. Changes in equity securities measured at fair value are recognized through net income.
(5)The following table shows the carrying value and our ownership percentage of each investment at March 31, 2022 and December 31, 2021 (equity method accounting):
 March 31, 2022December 31, 2021
(Dollars in millions)AmountOwnership %AmountOwnership %
Venture capital and private equity fund investments:
Strategic Investors Fund II, LP $3 8.6 %$3 8.6 %
Strategic Investors Fund III, LP 22 5.9 25 5.9 
Strategic Investors Fund IV, LP 34 5.0 36 5.0 
Strategic Investors Fund V funds90 Various87 Various
CP II, LP (i)2 5.1 2 5.1 
Other venture capital and private equity fund investments570 Various518 Various
 Total venture capital and private equity fund investments$721 $671 
Debt funds:
Gold Hill Capital 2008, LP (ii)$4 15.5 %$4 15.5 %
Other debt funds1 Various1 Various
Total debt funds$5 $5 
Other investments:
SPD Silicon Valley Bank Co., Ltd.$156 50.0 %$154 50.0 %
Other investments136 Various140 Various
Total other investments$292 $294 
(i)Our ownership includes direct ownership interest of 1.3 percent and indirect ownership interest of 3.8 percent through our investments in Strategic Investors Fund II, LP.
(ii)Our ownership includes direct ownership interest of 11.5 percent and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent.
(6)The following table presents the balances of our investments in qualified affordable housing projects and related unfunded commitments included as a component of “Other liabilities” on our consolidated balance sheets at March 31, 2022 and December 31, 2021:
(Dollars in millions)March 31, 2022December 31, 2021
Investments in qualified affordable housing projects, net$957 $954 
Other liabilities 469 482 
The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2022 and 2021:
Three months ended March 31,
(Dollars in millions)20222021
Tax credits and other tax benefits recognized$27 $28 
Amortization expense included in provision for income taxes (i)19 16 
(i)All investments are amortized using the proportional amortization method and amortization expense is included in the provision for income taxes.
Gain Loss On Investment Securities
The following table presents the net gains and losses on non-marketable and other equity securities for the three months ended March 31, 2022 and 2021 as recorded in the line item “Gains on investment securities, net," a component of noninterest income:
 Three months ended March 31,
(Dollars in millions)20222021
Net gains (losses) on non-marketable and other equity securities:
Non-marketable securities (fair value accounting):
Consolidated venture capital and private equity fund investments$3 $17 
Unconsolidated venture capital and private equity fund investments 3 13 
Other investments without a readily determinable fair value 1 14 
Other equity securities in public companies (fair value accounting)(32)78 
Non-marketable securities (equity method accounting):
Venture capital and private equity fund investments59 45 
Other investments2 — 
Total net gains on non-marketable and other equity securities $36 $167 
Less: realized net gains (losses) on sales of non-marketable and other equity securities(19)70 
Net gains on non-marketable and other equity securities still held$55 $97