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Fair Values of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2013

Fair Values of Assets and Liabilities (Tables) [Abstract]

Fair Value, Measurements from Brokers or Third Party Pricing Services



					Brokers			Third party pricing services
(in millions)					Level 1	Level 2	Level 3	Level 1	Level 2	Level 3

September 30, 2013
Trading assets (excluding derivatives)				$	-	311	6	1,540	918	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	566	5,840	-
	Securities of U.S. states and political subdivisions				-	-	-	-	38,584	63
	Mortgage-backed securities				-	1,491	1	-	149,424	273
	Other debt securities (1)				-	15,476	3,065	-	27,827	70
		Total debt securities			-	16,967	3,066	566	221,675	406
		Total marketable equity securities			-	-	-	8	625	-
			Total securities available for sale		-	16,967	3,066	574	222,300	406
Derivatives (trading and other assets)					-	5	-	-	481	2
Derivatives (liabilities)					-	(18)	-	-	(486)	-
Other liabilities					-	(140)	-	-	(49)	-


December 31, 2012
Trading assets (excluding derivatives)				$	-	406	8	1,314	1,016	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	915	6,231	-
	Securities of U.S. states and political subdivisions				-	-	-	-	35,036	-
	Mortgage-backed securities				-	138	4	-	121,703	292
	Other debt securities (1)				-	1,516	12,465	-	28,314	149
		Total debt securities			-	1,654	12,469	915	191,284	441
		Total marketable equity securities			-	3	-	29	774	-
			Total securities available for sale		-	1,657	12,469	944	192,058	441
Derivatives (trading and other assets)					-	8	-	-	602	-
Derivatives (liabilities)					-	(26)	-	-	(634)	-
Other liabilities					-	(121)	-	-	(104)	-


(1)	Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities.

Assets and Liabilities Recorded at Fair Value on a Recurring Basis



(in millions)							Level 1	Level 2	Level 3		Netting		Total
September 30, 2013
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	8,443	4,319	-		-		12,762
	Securities of U.S. states and political subdivisions						-	2,252	39		-		2,291
	Collateralized loan and other debt obligations (1)						-	217	543		-		760
	Corporate debt securities						-	8,052	36		-		8,088
	Mortgage-backed securities						-	12,623	1		-		12,624
	Asset-backed securities						3	768	100		-		871
	Equity securities						4,521	76	-		-		4,597
		Total trading securities(2)					12,967	28,307	719		-		41,993
	Other trading assets						2,478	2,306	60		-		4,844
			Total trading assets (excluding derivatives)				15,445	30,613	779		-		46,837
Securities of U.S. Treasury and federal agencies							566	5,840	-		-		6,406
Securities of U.S. states and political subdivisions							-	38,650	3,643	(3)	-		42,293
Mortgage-backed securities:
	Federal agencies						-	118,963	-		-		118,963
	Residential						-	13,436	88		-		13,524
	Commercial						-	18,617	188		-		18,805
		Total mortgage-backed securities					-	151,016	276		-		151,292
Corporate debt securities							113	20,851	234		-		21,198
Collateralized loan and other debt obligations(4)							-	14,390	3,386	(3)	-		17,776
Asset-backed securities:
	Auto loans and leases						-	17	5,174	(3)	-		5,191
	Home equity loans						-	831	-		-		831
	Other asset-backed securities						-	6,870	3,211	(3)	-		10,081
		Total asset-backed securities					-	7,718	8,385		-		16,103
Other debt securities							-	751	-		-		751
			Total debt securities				679	239,216	15,924		-		255,819
Marketable equity securities:
	Perpetual preferred securities (5)						536	622	740	(3)	-		1,898
	Other marketable equity securities						1,672	10	-		-		1,682
			Total marketable equity securities				2,208	632	740		-		3,580
				Total securities available for sale			2,887	239,848	16,664		-		259,399
Mortgages held for sale							-	20,776	2,433		-		23,209
Loans held for sale							-	2	-		-		2
Loans							-	246	5,805		-		6,051
Mortgage servicing rights (residential)							-	-	14,501		-		14,501
Derivative assets:
	Interest rate contracts						33	55,363	588		-		55,984
	Commodity contracts						-	3,018	23		-		3,041
	Equity contracts						648	3,580	1,208		-		5,436
	Foreign exchange contracts						30	5,061	5		-		5,096
	Credit contracts						-	819	563		-		1,382
	Other derivative contracts						-	-	-		-		-
		Netting					-	-	-		(54,567)	(6)	(54,567)
			Total derivative assets (7)				711	67,841	2,387		(54,567)		16,372
Other assets							50	4	1,038		-		1,092
					Total assets recorded at fair value	$	19,093	359,330	43,607		(54,567)		367,463
Derivative liabilities:
	Interest rate contracts					$	(47)	(54,933)	(334)		-		(55,314)
	Commodity contracts						-	(2,918)	(19)		-		(2,937)
	Equity contracts						(332)	(4,173)	(1,133)		-		(5,638)
	Foreign exchange contracts						(29)	(4,306)	(1)		-		(4,336)
	Credit contracts						-	(842)	(1,259)		-		(2,101)
	Other derivative contracts						-	-	(24)		-		(24)
		Netting					-	-	-		61,375	(6)	61,375
			Total derivative liabilities (7)				(408)	(67,172)	(2,770)		61,375		(8,975)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(6,284)	(1,934)	-		-		(8,218)
	Securities of U.S. states and political subdivisions						-	(18)	-		-		(18)
	Corporate debt securities						-	(4,556)	-		-		(4,556)
	Equity securities						(1,728)	(25)	-		-		(1,753)
	Other securities						-	(42)	-		-		(42)
		Total short sale liabilities					(8,012)	(6,575)	-		-		(14,587)
Other liabilities							-	-	(41)		-		(41)
					Total liabilities recorded at fair value	$	(8,420)	(73,747)	(2,811)		61,375		(23,603)

Includes collateralized debt obligations of $5 million.
Net gains (losses) from trading activities recognized in the income statement for the nine months ended September 30, 2013 and 2012, include $(215) million and $464 million in net unrealized gains (losses) on trading securities held at September 30, 2013 and 2012, respectively.
Balances consist of securities that are predominantly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity.
Includes collateralized debt obligations of $700 million.
Perpetual preferred securities include ARS and corporate preferred securities. See Note 7 for additional information.
Derivatives are reported net of cash collateral received and paid and, to the extent that the criteria of the accounting guidance covering the offsetting of amounts related to certain contracts are met, positions with the same counterparty are netted as part of a legally enforceable master netting agreement.
Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively.

(continued from previous page)


(in millions)							Level 1	Level 2	Level 3		Netting		Total
December 31, 2012
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	5,104	3,774	-		-		8,878
	Securities of U.S. states and political subdivisions						-	1,587	46		-		1,633
	Collateralized loan and other debt obligations (1)						-	-	742		-		742
	Corporate debt securities						-	6,664	52		-		6,716
	Mortgage-backed securities						-	13,380	6		-		13,386
	Asset-backed securities						-	722	138		-		860
	Equity securities						3,481	356	3		-		3,840
		Total trading securities(2)					8,585	26,483	987		-		36,055
	Other trading assets						2,150	887	76		-		3,113
			Total trading assets (excluding derivatives)				10,735	27,370	1,063		-		39,168
Securities of U.S. Treasury and federal agencies							915	6,231	-		-		7,146
Securities of U.S. states and political subdivisions							-	35,045	3,631	(3)	-		38,676
Mortgage-backed securities:
	Federal agencies						-	97,285	-		-		97,285
	Residential						-	15,837	94		-		15,931
	Commercial						-	19,765	203		-		19,968
		Total mortgage-backed securities					-	132,887	297		-		133,184
Corporate debt securities							125	20,934	274		-		21,333
Collateralized loan and other debt obligations (4)							-	-	13,188	(3)	-		13,188
Asset-backed securities:
	Auto loans and leases						-	7	5,921	(3)	-		5,928
	Home equity loans						-	867	51		-		918
	Other asset-backed securities						-	7,828	3,283	(3)	-		11,111
		Total asset-backed securities					-	8,702	9,255		-		17,957
Other debt securities							-	930	-		-		930
			Total debt securities				1,040	204,729	26,645		-		232,414
Marketable equity securities:
	Perpetual preferred securities (5)						629	753	794	(3)	-		2,176
	Other marketable equity securities						554	55	-		-		609
			Total marketable equity securities				1,183	808	794		-		2,785
				Total securities available for sale			2,223	205,537	27,439		-		235,199
Mortgages held for sale							-	39,055	3,250		-		42,305
Loans held for sale							-	6	-		-		6
Loans							-	185	6,021		-		6,206
Mortgage servicing rights (residential)							-	-	11,538		-		11,538
Derivative assets:
	Interest rate contracts						16	70,277	1,058		-		71,351
	Commodity contracts						-	3,386	70		-		3,456
	Equity contracts						432	2,747	604		-		3,783
	Foreign exchange contracts						19	5,481	24		-		5,524
	Credit contracts						-	1,160	650		-		1,810
	Other derivative contracts						-	-	-		-		-
		Netting					-	-	-		(62,108)	(6)	(62,108)
			Total derivative assets (7)				467	83,051	2,406		(62,108)		23,816
Other assets							136	123	162		-		421
					Total assets recorded at fair value	$	13,561	355,327	51,879		(62,108)		358,659
Derivative liabilities:
	Interest rate contracts					$	(52)	(68,244)	(399)		-		(68,695)
	Commodity contracts						-	(3,541)	(49)		-		(3,590)
	Equity contracts						(199)	(3,239)	(726)		-		(4,164)
	Foreign exchange contracts						(23)	(3,553)	(3)		-		(3,579)
	Credit contracts						-	(1,152)	(1,800)		-		(2,952)
	Other derivative contracts						-	-	(78)		-		(78)
		Netting					-	-	-		71,116	(6)	71,116
			Total derivative liabilities (7)				(274)	(79,729)	(3,055)		71,116		(11,942)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(4,225)	(875)	-		-		(5,100)
	Securities of U.S. states and political subdivisions						-	(9)	-		-		(9)
	Corporate debt securities						-	(3,941)	-		-		(3,941)
	Equity securities						(1,233)	(35)	-		-		(1,268)
	Other securities						-	(47)	-		-		(47)
		Total short sale liabilities					(5,458)	(4,907)	-		-		(10,365)
Other liabilities							-	(34)	(49)		-		(83)
					Total liabilities recorded at fair value	$	(5,732)	(84,670)	(3,104)		71,116		(22,390)

Includes collateralized debt obligations of $21 million.
Net gains from trading activities recognized in the income statement include $305 million in net unrealized gains on trading securities we held at December 31, 2012.
Balances consist of securities that are predominantly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity.
Includes collateralized debt obligations of $644 million.
Perpetual preferred securities include ARS and corporate preferred securities. See Note 7 for additional information.
Derivatives are reported net of cash collateral received and paid and, to the extent that the criteria of the accounting guidance covering the offsetting of amounts related to certain contracts are met, positions with the same counterparty are netted as part of a legally enforceable master netting agreement.
Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively.

Fair Value, Transfers Between Fair Value Levels



			Transfers Between Fair Value Levels
			Level 1		Level 2		Level 3 (1)
(in millions)			In	Out	In	Out	In	Out	Total
Quarter ended September 30, 2013
Trading securities		$	-	(1)	15	(14)	15	(15)	-
Securities available for sale			-	-	12	(77)	77	(12)	-
Mortgages held for sale			-	-	177	(77)	77	(177)	-
Loans			-	-	48	-	-	(48)	-
Net derivative assets and liabilities (2)			-	-	(188)	32	(32)	188	-
Short sale liabilities			-	-	-	-	-	-	-
	Total transfers	$	-	(1)	64	(136)	137	(64)	-
Quarter ended September 30, 2012
Trading securities		$	23	-	6	(23)	-	(6)	-
Securities available for sale (3)			-	-	5,417	(16)	16	(5,417)	-
Mortgages held for sale			-	-	79	(127)	127	(79)	-
Loans (4)			-	-	-	(5,851)	5,851	-	-
Net derivative assets and liabilities			-	-	84	-	-	(84)	-
Short sale liabilities			(29)	-	-	29	-	-	-
	Total transfers	$	(6)	-	5,586	(5,988)	5,994	(5,586)	-
Nine months ended September 30, 2013
Trading securities (5)		$	-	(247)	483	(40)	41	(237)	-
Securities available for sale (5)			17	-	10,853	(94)	77	(10,853)	-
Mortgages held for sale			-	-	316	(255)	255	(316)	-
Loans			-	-	154	-	-	(154)	-
Net derivative assets and liabilities			-	-	(139)	32	(32)	139	-
Short sale liabilities			-	-	-	-	-	-	-
	Total transfers	$	17	(247)	11,667	(357)	341	(11,421)	-
Nine months ended September 30, 2012
Trading securities		$	23	-	16	(37)	14	(16)	-
Securities available for sale (3)			-	-	9,453	(73)	73	(9,453)	-
Mortgages held for sale			-	-	229	(298)	298	(229)	-
Loans (4)			-	-	-	(5,851)	5,851	-	-
Net derivative assets and liabilities			-	-	97	8	(8)	(97)	-
Short sale liabilities			(29)	-	-	29	-	-	-
	Total transfers	$	(6)	-	9,795	(6,222)	6,228	(9,795)	-

All transfers in and out of Level 3 are disclosed within the recurring Level 3 rollforward table in this Note.
Consists of net derivative liabilities that were transferred from Level 3 to Level 2 due to increased observable market data. Also includes net derivative liabilities that were transferred from Level 2 to Level 3 in conjunction with a change in our valuation technique from an internal model with significant observable inputs to an internal model with significant unobservable inputs.
Includes $5.2 billion and $9.1 billion of securities of U.S. states and political subdivisions that we transferred from Level 3 to Level 2 in third quarter and first nine months of 2012, respectively, as a result of increased observable market data in the valuation of such instruments. This transfer was done in conjunction with a change in our valuation technique from an internal model based upon unobservable inputs to third party vendor pricing based upon market observable data.
Consists of reverse mortgage loans securitized with GNMA which were accounted for as secured borrowing transactions. We transferred the loans from Level 2 to Level 3 in third quarter 2012 due to decreased market activity and visibility to significant trades of the same or similar products. As a result, we changed our valuation technique from an internal model based on market observable data to an internal discounted cash flow model based on unobservable inputs.
Consists of $202 million of collateralized loan obligations classified as trading assets and $10.6 billion classified as securities available for sale that we transferred from Level 3 to Level 2 in first quarter 2013 as a result of increased observable market data in the valuation of such instruments.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Level 3 Reconciliation



															Net unrealized
									Total net gains		Purchases,				gains (losses)
									(losses) included in		sales,				included in
										Other	issuances				income related
								Balance,		compre-	and	Transfers	Transfers	Balance,	to assets and
							beginning		Net	hensive	settlements,	into	out of	end of	liabilities held
(in millions)								of period	income	income	net (1)	Level 3	Level 3	period	at period end	(2)
Quarter ended September 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	40	-	-	(1)	-	-	39	-
	Collateralized loan and other debt obligations							495	10	-	38	-	-	543	7
	Corporate debt securities							14	2	-	5	15	-	36	1
	Mortgage-backed securities							9	-	-	7	-	(15)	1	-
	Asset-backed securities							109	10	-	(19)	-	-	100	20
	Equity securities							-	-	-	-	-	-	-	-
		Total trading securities						667	22	-	30	15	(15)	719	28
	Other trading assets							63	(3)	-	-	-	-	60	(1)
			Total trading assets
				(excluding derivatives)				730	19	-	30	15	(15)	779	27	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						3,759	3	1	(162)	53	(11)	3,643	-
	Mortgage-backed securities:
		Residential						98	8	(2)	(16)	-	-	88	-
		Commercial						194	(2)	3	(6)	-	(1)	188	(2)
			Total mortgage-backed
				securities				292	6	1	(22)	-	(1)	276	(2)
	Corporate debt securities							243	2	(9)	(2)	-	-	234	-
	Collateralized loan and other debt obligations							3,227	(2)	16	145	-	-	3,386	-
	Asset-backed securities:
		Auto loans and leases						4,872	1	(3)	304	-	-	5,174	-
		Home equity loans						-	-	-	-	-	-	-	-
		Other asset-backed securities						2,948	2	29	208	24	-	3,211	-
			Total asset-backed securities					7,820	3	26	512	24	-	8,385	-
				Total debt securities				15,341	12	35	471	77	(12)	15,924	(2)	(4)
	Marketable equity securities:
		Perpetual preferred securities						788	3	(36)	(15)	-	-	740	-
		Other marketable equity securities						-	-	-	-	-	-	-	-
				Total marketable
					equity securities			788	3	(36)	(15)	-	-	740	-	(5)
					Total securities
						available for sale		16,129	15	(1)	456	77	(12)	16,664	(2)
Mortgages held for sale								2,641	4	-	(112)	77	(177)	2,433	5	(6)
Loans								5,860	(17)	-	10	-	(48)	5,805	(13)	(6)
Mortgage servicing rights								14,185	(638)	-	954	-	-	14,501	(213)	(6)
Net derivative assets and liabilities:
	Interest rate contracts							(561)	224	-	591	-	-	254	220
	Commodity contracts							(12)	(4)	-	(24)	(1)	45	4	10
	Equity contracts							27	(13)	-	(50)	(32)	143	75	(7)
	Foreign exchange contracts							(29)	32	-	-	1	-	4	32
	Credit contracts							(799)	(7)	-	110	-	-	(696)	11
	Other derivative contracts							(36)	13	-	(1)	-	-	(24)	-
		Total derivative contracts						(1,410)	245	-	626	(32)	188	(383)	266	(7)
Other assets								731	52	-	255	-	-	1,038	(2)	(3)
Short sale liabilities								-	-	-	-	-	-	-	-	(3)
Other liabilities (excluding derivatives)								(43)	12	-	(10)	-	-	(41)	1	(6)

See next page for detail.
Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement.



															Net unrealized
									Total net gains		Purchases,				gains (losses)
									(losses) included in		sales,				included in
										Other	issuances				income related
								Balance,		compre-	and	Transfers	Transfers	Balance,	to assets and
							beginning		Net	hensive	settlements,	into	out of	end of	liabilities held
(in millions)								of period	income	income	net (1)	Level 3	Level 3	period	at period end	(2)
Quarter ended September 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	58	2	-	1	-	-	61	-
	Collateralized loan and other debt obligations							1,273	(224)	-	26	-	-	1,075	(246)
	Corporate debt securities							56	-	-	(14)	-	-	42	(2)
	Mortgage-backed securities							93	-	-	(59)	-	10	44	-
	Asset-backed securities							179	18	-	(9)	-	(16)	172	13
	Equity securities							3	-	-	-	-	-	3	-
		Total trading securities						1,662	(204)	-	(55)	-	(6)	1,397	(235)
	Other trading assets							91	(9)	-	-	-	-	82	(7)
			Total trading assets
				(excluding derivatives)				1,753	(213)	-	(55)	-	(6)	1,479	(242)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						9,505	13	(6)	(136)	14	(5,178)	4,212	-
	Mortgage-backed securities:
		Residential						15	-	-	-	-	(13)	2	-
		Commercial						189	(3)	(2)	(5)	-	-	179	(3)
			Total mortgage-backed
				securities				204	(3)	(2)	(5)	-	(13)	181	(3)
	Corporate debt securities							286	14	-	(38)	-	(41)	221	-
	Collateralized loan and other debt obligations							9,147	27	210	841	-	-	10,225	-
	Asset-backed securities:
		Auto loans and leases						6,206	-	(2)	(717)	-	-	5,487	-
		Home equity loans						257	3	(3)	-	2	(162)	97	-
		Other asset-backed securities						3,074	(5)	34	(157)	-	(23)	2,923	(6)
			Total asset-backed securities					9,537	(2)	29	(874)	2	(185)	8,507	(6)
				Total debt securities				28,679	49	231	(212)	16	(5,417)	23,346	(9)	(4)
	Marketable equity securities:
		Perpetual preferred securities						927	14	(4)	(88)	-	-	849	-
		Other marketable equity securities						2	1	-	(3)	-	-	-	-
				Total marketable
					equity securities			929	15	(4)	(91)	-	-	849	-	(5)
					Total securities
						available for sale		29,608	64	227	(303)	16	(5,417)	24,195	(9)
Mortgages held for sale								3,328	38	-	(107)	127	(79)	3,307	37	(6)
Loans								24	59	-	79	5,851	-	6,013	59	(6)
Mortgage servicing rights								12,081	(2,298)	-	1,173	-	-	10,956	(1,427)	(6)
Net derivative assets and liabilities:
	Interest rate contracts							906	2,879	-	(2,392)	-	-	1,393	1,248
	Commodity contracts							4	48	-	(21)	-	(3)	28	21
	Equity contracts							(269)	25	-	133	-	(81)	(192)	1
	Foreign exchange contracts							1	19	-	2	-	-	22	21
	Credit contracts							(1,657)	(15)	-	291	-	-	(1,381)	(2)
	Other derivative contracts							(106)	15	-	-	-	-	(91)	-
		Total derivative contracts						(1,121)	2,971	-	(1,987)	-	(84)	(221)	1,289	(7)
Other assets								225	(10)	-	(22)	-	-	193	(8)	(3)
Short sale liabilities								(9)	-	-	9	-	-	-	-	(3)
Other liabilities (excluding derivatives)								(245)	(17)	-	9	-	-	(253)	-	(6)

See next page for detail.
Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities and other noninterest income in the income statement.



															Net unrealized
									Total net gains		Purchases,				gains (losses)
									(losses) included in		sales,				included in
										Other	issuances				income related
								Balance,		compre-	and	Transfers	Transfers	Balance,	to assets and
							beginning		Net	hensive	settlements,	into	out of	end of	liabilities held
(in millions)								of period	income	income	net (1)	Level 3	Level 3	period	at period end	(2)
Nine months ended September 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	46	2	-	(9)	-	-	39	(1)
	Collateralized loan and other debt obligations							742	74	-	(71)	-	(202)	543	(6)
	Corporate debt securities							52	4	-	(36)	16	-	36	2
	Mortgage-backed securities							6	1	-	9	-	(15)	1	-
	Asset-backed securities							138	12	-	(55)	25	(20)	100	11
	Equity securities							3	-	-	(3)	-	-	-	-
		Total trading securities						987	93	-	(165)	41	(237)	719	6
	Other trading assets							76	(16)	-	-	-	-	60	(5)
			Total trading assets
				(excluding derivatives)				1,063	77	-	(165)	41	(237)	779	1	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						3,631	7	(66)	194	53	(176)	3,643	-
	Mortgage-backed securities:
		Residential						94	5	9	(19)	-	(1)	88	-
		Commercial						203	(9)	20	(14)	-	(12)	188	(5)
			Total mortgage-backed
				securities				297	(4)	29	(33)	-	(13)	276	(5)
	Corporate debt securities							274	6	(18)	(25)	-	(3)	234	-
	Collateralized loan and other debt obligations							13,188	(6)	107	710	-	(10,613)	3,386	-
	Asset-backed securities:
		Auto loans and leases						5,921	1	(28)	(720)	-	-	5,174	-
		Home equity loans						51	3	(1)	(5)	-	(48)	-	-
		Other asset-backed securities						3,283	26	29	(151)	24	-	3,211	(7)
			Total asset-backed securities					9,255	30	-	(876)	24	(48)	8,385	(7)
				Total debt securities				26,645	33	52	(30)	77	(10,853)	15,924	(12)	(4)
	Marketable equity securities:
		Perpetual preferred securities						794	6	(13)	(47)	-	-	740	-
		Other marketable equity securities						-	-	-	-	-	-	-	-
				Total marketable
					equity securities			794	6	(13)	(47)	-	-	740	-	(5)
					Total securities
						available for sale		27,439	39	39	(77)	77	(10,853)	16,664	(12)
Mortgages held for sale								3,250	31	-	(787)	255	(316)	2,433	(51)	(6)
Loans								6,021	(171)	-	109	-	(154)	5,805	(147)	(6)
Mortgage servicing rights								11,538	598	-	2,365	-	-	14,501	2,415	(6)
Net derivative assets and liabilities:
	Interest rate contracts							659	(759)	-	354	-	-	254	104
	Commodity contracts							21	3	-	(55)	(1)	36	4	1
	Equity contracts							(122)	(42)	-	168	(32)	103	75	(26)
	Foreign exchange contracts							21	(22)	-	4	1	-	4	(14)
	Credit contracts							(1,150)	(20)	-	474	-	-	(696)	28
	Other derivative contracts							(78)	54	-	-	-	-	(24)	-
		Total derivative contracts						(649)	(786)	-	945	(32)	139	(383)	93	(7)
Other assets								162	88	-	788	-	-	1,038	(5)	(3)
Short sale liabilities								-	-	-	-	-	-	-	-	(3)
Other liabilities (excluding derivatives)								(49)	18	-	(10)	-	-	(41)	5	(6)

See next page for detail.
Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement.



															Net unrealized
									Total net gains		Purchases,				gains (losses)
									(losses) included in		sales,				included in
										Other	issuances				income related
								Balance,		compre-	and	Transfers	Transfers	Balance,	to assets and
							beginning		Net	hensive	settlements,	into	out of	end of	liabilities held
(in millions)								of period	income	income	net (1)	Level 3	Level 3	period	at period end	(2)
Nine months ended September 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	53	2	-	6	-	-	61	(1)
	Collateralized loan and other debt obligations							1,582	(206)	-	(301)	-	-	1,075	(261)
	Corporate debt securities							97	(2)	-	(53)	-	-	42	(4)
	Mortgage-backed securities							108	3	-	(67)	-	-	44	(2)
	Asset-backed securities							190	46	-	(62)	14	(16)	172	35
	Equity securities							4	1	-	(2)	-	-	3	-
		Total trading securities						2,034	(156)	-	(479)	14	(16)	1,397	(233)
	Other trading assets							115	(33)	-	-	-	-	82	(18)
			Total trading assets
				(excluding derivatives)				2,149	(189)	-	(479)	14	(16)	1,479	(251)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						11,516	8	188	1,565	14	(9,079)	4,212	-
	Mortgage-backed securities:
		Residential						61	11	11	(35)	28	(74)	2	(1)
		Commercial						232	(17)	19	(55)	-	-	179	(1)
			Total mortgage-backed
				securities				293	(6)	30	(90)	28	(74)	181	(2)
	Corporate debt securities							295	17	(5)	(46)	1	(41)	221	-
	Collateralized loan and other debt obligations							8,599	112	387	1,127	-	-	10,225	-
	Asset-backed securities:
		Auto loans and leases						6,641	3	5	(1,162)	-	-	5,487	-
		Home equity loans						282	14	11	(3)	29	(236)	97	(4)
		Other asset-backed securities						2,863	(28)	96	14	1	(23)	2,923	(26)
			Total asset-backed securities					9,786	(11)	112	(1,151)	30	(259)	8,507	(30)
				Total debt securities				30,489	120	712	1,405	73	(9,453)	23,346	(32)	(4)
	Marketable equity securities:
		Perpetual preferred securities						1,344	85	(28)	(552)	-	-	849	-
		Other marketable equity securities						23	2	(15)	(10)	-	-	-	-
				Total marketable
					equity securities			1,367	87	(43)	(562)	-	-	849	-	(5)
					Total securities
						available for sale		31,856	207	669	843	73	(9,453)	24,195	(32)
Mortgages held for sale								3,410	4	-	(176)	298	(229)	3,307	16	(6)
Loans								23	59	-	80	5,851	-	6,013	59	(6)
Mortgage servicing rights								12,603	(5,442)	-	3,795	-	-	10,956	(3,216)	(6)
Net derivative assets and liabilities:
	Interest rate contracts							609	6,565	-	(5,781)	-	-	1,393	1,292
	Commodity contracts							-	71	-	(32)	(8)	(3)	28	36
	Equity contracts							(75)	(19)	-	(4)	-	(94)	(192)	(18)
	Foreign exchange contracts							(7)	21	-	8	-	-	22	29
	Credit contracts							(1,998)	96	-	521	-	-	(1,381)	37
	Other derivative contracts							(117)	26	-	-	-	-	(91)	-
		Total derivative contracts						(1,588)	6,760	-	(5,288)	(8)	(97)	(221)	1,376	(7)
Other assets								244	(6)	-	(45)	-	-	193	(11)	(3)
Short sale liabilities								-	-	-	-	-	-	-	-	(3)
Other liabilities (excluding derivatives)								(44)	(19)	-	(190)	-	-	(253)	-	(6)

See next page for detail.
Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities and other noninterest income in the income statement.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Level 3 Reconciliation Detail




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Quarter ended September 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	2	(3)	-	-	(1)
	Collateralized loan and other debt obligations							172	(135)	-	1	38
	Corporate debt securities							5	-	-	-	5
	Mortgage-backed securities							425	(418)	-	-	7
	Asset-backed securities							2	(9)	-	(12)	(19)
	Equity securities							-	-	-	-	-
		Total trading securities						606	(565)	-	(11)	30
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				606	(565)	-	(11)	30
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						-	(1)	21	(182)	(162)
	Mortgage-backed securities:
		Residential						-	(16)	-	-	(16)
		Commercial						-	1	-	(7)	(6)
			Total mortgage-backed
				securities				-	(15)	-	(7)	(22)
	Corporate debt securities							-	-	-	(2)	(2)
	Collateralized loan and other debt obligations							216	-	-	(71)	145
	Asset-backed securities:
		Auto loans and leases						750	-	509	(955)	304
		Home equity loans						-	-	-	-	-
		Other asset-backed securities						496	-	173	(461)	208
			Total asset-backed securities					1,246	-	682	(1,416)	512
				Total debt securities				1,462	(16)	703	(1,678)	471
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(15)	(15)
		Other marketable equity securities						-	-	-	-	-
				Total marketable
					equity securities			-	-	-	(15)	(15)
					Total securities
						available for sale		1,462	(16)	703	(1,693)	456
Mortgages held for sale								55	-	-	(167)	(112)
Loans								1	-	112	(103)	10
Mortgage servicing rights								-	1	953	-	954
Net derivative assets and liabilities:
	Interest rate contracts							-	(9)	-	600	591
	Commodity contracts							(2)	2	-	(24)	(24)
	Equity contracts							(269)	130	-	89	(50)
	Foreign exchange contracts							-	-	-	-	-
	Credit contracts							-	(3)	-	113	110
	Other derivative contracts							-	-	-	(1)	(1)
		Total derivative contracts						(271)	120	-	777	626
Other assets								263	(1)	-	(7)	255
Short sale liabilities								-	-	-	-	-
Other liabilities (excluding derivatives)								-	-	-	(10)	(10)




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Quarter ended September 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	5	(4)	-	-	1
	Collateralized loan and other debt obligations							271	(245)	-	-	26
	Corporate debt securities							-	(14)	-	-	(14)
	Mortgage-backed securities							-	(59)	-	-	(59)
	Asset-backed securities							6	(3)	-	(12)	(9)
	Equity securities							-	-	-	-	-
		Total trading securities						282	(325)	-	(12)	(55)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				282	(325)	-	(12)	(55)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						199	(35)	65	(365)	(136)
	Mortgage-backed securities:
		Residential						-	-	-	-	-
		Commercial						-	-	-	(5)	(5)
			Total mortgage-backed
				securities				-	-	-	(5)	(5)
	Corporate debt securities							-	(37)	-	(1)	(38)
	Collateralized loan and other debt obligations							1,188	-	-	(347)	841
	Asset-backed securities:
		Auto loans and leases						-	-	180	(897)	(717)
		Home equity loans						-	-	-	-	-
		Other asset-backed securities						94	(38)	270	(483)	(157)
			Total asset-backed securities					94	(38)	450	(1,380)	(874)
				Total debt securities				1,481	(110)	515	(2,098)	(212)
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(88)	(88)
		Other marketable equity securities						-	(3)	-	-	(3)
				Total marketable
					equity securities			-	(3)	-	(88)	(91)
					Total securities
						available for sale		1,481	(113)	515	(2,186)	(303)
Mortgages held for sale								100	-	-	(207)	(107)
Loans								-	-	129	(50)	79
Mortgage servicing rights								-	-	1,173	-	1,173
Net derivative assets and liabilities:
	Interest rate contracts							28	(22)	-	(2,398)	(2,392)
	Commodity contracts							22	(8)	-	(35)	(21)
	Equity contracts							13	49	1	70	133
	Foreign exchange contracts							-	-	-	2	2
	Credit contracts							-	-	-	291	291
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						63	19	1	(2,070)	(1,987)
Other assets								-	(5)	-	(17)	(22)
Short sale liabilities								9	-	-	-	9
Other liabilities (excluding derivatives)								(2)	1	(8)	18	9




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Nine months ended September 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	125	(134)	-	-	(9)
	Collateralized loan and other debt obligations							691	(760)	-	(2)	(71)
	Corporate debt securities							71	(107)	-	-	(36)
	Mortgage-backed securities							429	(420)	-	-	9
	Asset-backed securities							14	(36)	-	(33)	(55)
	Equity securities							-	(3)	-	-	(3)
		Total trading securities						1,330	(1,460)	-	(35)	(165)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				1,330	(1,460)	-	(35)	(165)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						-	(68)	726	(464)	194
	Mortgage-backed securities:
		Residential						-	(16)	-	(3)	(19)
		Commercial						-	-	-	(14)	(14)
			Total mortgage-backed
				securities				-	(16)	-	(17)	(33)
	Corporate debt securities							-	-	-	(25)	(25)
	Collateralized loan and other debt obligations							989	(14)	-	(265)	710
	Asset-backed securities:
		Auto loans and leases						1,102	-	813	(2,635)	(720)
		Home equity loans						-	(5)	-	-	(5)
		Other asset-backed securities						1,018	(36)	781	(1,914)	(151)
			Total asset-backed securities					2,120	(41)	1,594	(4,549)	(876)
				Total debt securities				3,109	(139)	2,320	(5,320)	(30)
	Marketable equity securities:
		Perpetual preferred securities						-	(20)	-	(27)	(47)
		Other marketable equity securities						-	-	-	-	-
				Total marketable
					equity securities			-	(20)	-	(27)	(47)
					Total securities
						available for sale		3,109	(159)	2,320	(5,347)	(77)
Mortgages held for sale								258	(572)	-	(473)	(787)
Loans								23	-	344	(258)	109
Mortgage servicing rights								-	(583)	2,948	-	2,365
Net derivative assets and liabilities:
	Interest rate contracts							-	-	-	354	354
	Commodity contracts							-	-	-	(55)	(55)
	Equity contracts							-	(79)	-	247	168
	Foreign exchange contracts							-	-	-	4	4
	Credit contracts							5	(4)	-	473	474
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						5	(83)	-	1,023	945
Other assets								820	(2)	-	(30)	788
Short sale liabilities								8	(8)	-	-	-
Other liabilities (excluding derivatives)								-	-	(4)	(6)	(10)




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Nine months ended September 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	73	(67)	-	-	6
	Collateralized loan and other debt obligations							642	(943)	-	-	(301)
	Corporate debt securities							151	(204)	-	-	(53)
	Mortgage-backed securities							44	(111)	-	-	(67)
	Asset-backed securities							104	(130)	-	(36)	(62)
	Equity securities							1	(3)	-	-	(2)
		Total trading securities						1,015	(1,458)	-	(36)	(479)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				1,015	(1,458)	-	(36)	(479)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						1,759	(37)	965	(1,122)	1,565
	Mortgage-backed securities:
		Residential						1	(34)	-	(2)	(35)
		Commercial						10	-	-	(65)	(55)
			Total mortgage-backed
				securities				11	(34)	-	(67)	(90)
	Corporate debt securities							-	(37)	-	(9)	(46)
	Collateralized loan and other debt obligations							2,403	(185)	-	(1,091)	1,127
	Asset-backed securities:
		Auto loans and leases						2,040	-	490	(3,692)	(1,162)
		Home equity loans						-	(2)	-	(1)	(3)
		Other asset-backed securities						996	(132)	1,030	(1,880)	14
			Total asset-backed securities					3,036	(134)	1,520	(5,573)	(1,151)
				Total debt securities				7,209	(427)	2,485	(7,862)	1,405
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(552)	(552)
		Other marketable equity securities						-	(8)	-	(2)	(10)
				Total marketable
					equity securities			-	(8)	-	(554)	(562)
					Total securities
						available for sale		7,209	(435)	2,485	(8,416)	843
Mortgages held for sale								355	-	-	(531)	(176)
Loans								2	-	129	(51)	80
Mortgage servicing rights								-	(293)	4,088	-	3,795
Net derivative assets and liabilities:
	Interest rate contracts							28	(22)	-	(5,787)	(5,781)
	Commodity contracts							22	(8)	-	(46)	(32)
	Equity contracts							117	(133)	1	11	(4)
	Foreign exchange contracts							-	-	-	8	8
	Credit contracts							(5)	2	-	524	521
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						162	(161)	1	(5,290)	(5,288)
Other assets								17	(5)	-	(57)	(45)
Short sale liabilities								9	(9)	-	-	-
Other liabilities (excluding derivatives)								(3)	11	(216)	18	(190)

Fair Value, Assets and Liabilities Measured on Recurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs



				Fair Value				Significant	Range of				Weighted
($ in millions, except cost to service amounts)				Level 3			Valuation Technique(s)	Unobservable Input	Inputs			Average (1)
September 30, 2013
Trading and available for sale securities:
	Securities of U.S. states and
	political subdivisions:
		Government, healthcare and
			other revenue bonds	$	3,117		Discounted cash flow	Discount rate	0.4	-	6.1	%	1.4
					63		Vendor priced
		Auction rate securities and other municipal bonds			502		Discounted cash flow	Discount rate	0.4	-	11.8		4.4
								Weighted average life	1.8	-	6.6	yrs	4.7
	Collateralized loan and other debt obligations (2)				904		Market comparable pricing	Comparability adjustment	(18.0)	-	21.7	%	2.5
					3,025		Vendor priced
	Asset-backed securities:
		Auto loans and leases			5,174		Discounted cash flow	Default rate	1.9	-	8.5		3.1
								Discount rate	0.5	-	2.0		0.8
								Loss severity	50.0	-	66.0		52.9
								Prepayment rate	0.6	-	1.4		0.8
		Other asset-backed securities:
			Dealer floor plan		1,782		Discounted cash flow	Discount rate	0.7	-	1.6		0.9
			Diversified payment rights (3)		654		Discounted cash flow	Discount rate	1.8	-	3.2		2.4
			Other commercial and consumer		782	(4)	Discounted cash flow	Discount rate	0.1	-	21.1		2.8
								Weighted average life	0.8	-	6.9	yrs	2.5
					93		Vendor priced
	Marketable equity securities: perpetual
	preferred				740	(5)	Discounted cash flow	Discount rate	4.8	-	7.9	%	7.0
								Weighted average life	1.0	-	15.0	yrs	12.1
Mortgages held for sale (residential)					2,433		Discounted cash flow	Default rate	0.6	-	14.4	%	3.0
								Discount rate	3.6	-	7.9		5.5
								Loss severity	1.3	-	33.3		21.6
								Prepayment rate	2.0	-	9.7		5.5
Loans					5,805	(6)	Discounted cash flow	Discount rate	2.4	-	3.6		3.1
								Prepayment rate	3.1	-	39.3		12.2
								Utilization rate	0.0	-	2.0		0.8
Mortgage servicing rights (residential)					14,501		Discounted cash flow	Cost to service per loan (7)	$ 87	-	826		198
								Discount rate	5.6	-	11.1	%	7.6
								Prepayment rate (8)	6.8	-	20.0		11.7
Net derivative assets and (liabilities):
	Interest rate contracts				35		Discounted cash flow	Default rate	0.2	-	15.5		5.0
								Loss severity	40.9	-	50.0		50.0
								Prepayment rate	11.0	-	15.6		15.6
	Interest rate contracts: derivative loan
		commitments			219	(9)	Discounted cash flow	Fall-out factor	1.0	-	99.0		27.6
								Initial-value servicing	(6.8)	-	82.8	bps	41.5
	Equity contracts				199		Discounted cash flow	Conversion factor	(20.2)	-	0.0	%	(17.6)
								Weighted average life	0.5	-	3.5	yrs	1.6
					(124)		Option model	Correlation factor	0.0	-	88.0	%	75.7
								Volatility factor	10.9	-	68.2		23.2
	Credit contracts				(700)		Market comparable pricing	Comparability adjustment	(30.7)	-	34.5		0.4
					4		Option model	Credit spread	0.1	-	15.2		1.1
								Loss severity	16.5	-	87.5		43.9

Other assets: nonmarketable equity investments					911		Market comparable pricing	Comparability adjustment	(30.0)	-	(4.0)		(24.8)

Insignificant Level 3 assets,
	net of liabilities				677	(10)
		Total level 3 assets, net of liabilities		$	40,796	(11)

Weighted averages are calculated using outstanding unpaid principal balance for cash instruments such as loans and securities, and notional amounts for derivative instruments.
Includes $705 million of collateralized debt obligations.
Securities backed by specified sources of current and future receivables generated from foreign originators.
Consists primarily of investments in asset-backed securities that are revolving in nature, in which the timing of advances and repayments of principal are uncertain.
Consists of auction rate preferred equity securities with no maturity date that are callable by the issuer.
Consists predominantly of reverse mortgage loans securitized with GNMA which were accounted for as secured borrowing transactions.
The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $87 - $339.
Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior.
Total derivative loan commitments were a net asset of $222 million, of which $219 million were classified as level 3 at September 30, 2013.
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 corporate debt securities, mortgage-backed securities, asset-backed securities backed by home equity loans, other marketable equity securities, other liabilities and certain net derivative assets and liabilities, such as commodity contracts, foreign exchange contracts and other derivative contracts.
Consists of total Level 3 assets of $43.6 billion and total Level 3 liabilities of $2.8 billion, before netting of derivative balances.



				Fair Value				Significant	Range of				Weighted
($ in millions, except cost to service amounts)				Level 3			Valuation Technique(s)	Unobservable Input	Inputs				Average (1)
December 31, 2012
Trading and available for sale securities:
	Securities of U.S. states and
	political subdivisions:
		Government, healthcare and
			other revenue bonds	$	3,081		Discounted cash flow	Discount rate	0.5	-	4.8	%	1.8

		Auction rate securities and other municipal bonds			596		Discounted cash flow	Discount rate	2.0	-	12.9		4.4
								Weighted average life	3.0	-	7.5	yrs	3.4
	Collateralized loan and other debt obligations(2)				1,423		Market comparable pricing	Comparability adjustment	(22.5)	-	24.7	%	3.5
					12,507		Vendor priced
	Asset-backed securities:
		Auto loans and leases			5,921		Discounted cash flow	Default rate	2.1	-	9.7		3.2
								Discount rate	0.6	-	1.6		1.0
								Loss severity	50.0	-	66.6		51.8
								Prepayment rate	0.6	-	0.9		0.7
		Other asset-backed securities:
			Dealer floor plan		1,030		Discounted cash flow	Discount rate	0.5	-	2.2		1.9
			Diversified payment rights (3)		639		Discounted cash flow	Discount rate	1.0	-	2.9		1.8
			Other commercial and consumer		1,665	(4)	Discounted cash flow	Discount rate	0.6	-	6.8		2.7
								Weighted average life	1.0	-	7.5	yrs	2.9
					87		Vendor priced
	Marketable equity securities: perpetual
		preferred			794	(5)	Discounted cash flow	Discount rate	4.3	-	9.3	%	6.3
								Weighted average life	1.0	-	7.0	yrs	5.3
Mortgages held for sale (residential)					3,250		Discounted cash flow	Default rate	0.6	-	14.8	%	5.5
								Discount rate	3.4	-	7.5		5.4
								Loss severity	1.3	-	35.3		26.4
								Prepayment rate	1.0	-	11.0		6.2
Loans					6,021	(6)	Discounted cash flow	Discount rate	2.4	-	2.8		2.6
								Prepayment rate	1.6	-	44.4		11.6
								Utilization rate	0.0	-	2.0		0.8
Mortgage servicing rights (residential)					11,538		Discounted cash flow	Cost to service per loan (7)	$ 90	-	854		219
								Discount rate	6.7	-	10.9	%	7.4
								Prepayment rate (8)	7.3	-	23.7		15.7
Net derivative assets and (liabilities):
	Interest rate contracts				162		Discounted cash flow	Default rate	0.0	-	20.0		5.4
								Loss severity	45.8	-	83.2		51.6
								Prepayment rate	7.4	-	15.6		14.9
	Interest rate contracts: derivative loan
		commitments			497		Discounted cash flow	Fall-out factor	1.0	-	99.0		22.9
								Initial-value servicing	(13.7)	-	137.2	bps	85.6
	Equity contracts				(122)		Option model	Correlation factor	(43.6)	-	94.5	%	50.3
								Volatility factor	3.0	-	68.9		26.5
	Credit contracts				(1,157)		Market comparable pricing	Comparability adjustment	(34.4)	-	30.5		0.1
					8		Option model	Credit spread	0.1	-	14.0		2.0
								Loss severity	16.5	-	87.5		52.3

Insignificant Level 3 assets,
	net of liabilities				835	(9)
		Total level 3 assets, net of liabilities		$	48,775	(10)

Weighted averages are calculated using outstanding unpaid principal balance for cash instruments such as loans and securities, and notional amounts for derivative instruments.
Includes $665 million of collateralized debt obligations.
Securities backed by specified sources of current and future receivables generated from foreign originators.
Consists primarily of investments in asset-backed securities that are revolving in nature, in which the timing of advances and repayments of principal are uncertain.
Consists of auction rate preferred equity securities with no maturity date that are callable by the issuer.
Consists predominantly of reverse mortgage loans securitized with GNMA which were accounted for as secured borrowing transactions.
The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $90 - $437.
Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior.
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 corporate debt securities, mortgage-backed securities, asset-backed securities backed by home equity loans, other marketable equity securities, other assets, other liabilities and certain net derivative assets and liabilities, such as commodity contracts, foreign exchange contracts and other derivative contracts.
Consists of total Level 3 assets of $51.9 billion and total Level 3 liabilities of $3.1 billion, before netting of derivative balances.

Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis



				September 30, 2013				December 31, 2012
(in millions)				Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Mortgages held for sale (LOCOM) (1)			$	-	721	922	1,643	-	1,509	1,045	2,554
Loans held for sale				-	39	-	39	-	4	-	4
Loans:
	Commercial			-	430	7	437	-	1,507	-	1,507
	Consumer			-	3,517	7	3,524	-	5,889	4	5,893
		Total loans (2)		-	3,947	14	3,961	-	7,396	4	7,400
Other assets (3)				-	402	115	517	-	989	144	1,133

Predominantly real estate 1-4 family first mortgage loans.
Represents carrying value of loans for which adjustments are based on the appraised value of the collateral.
Includes the fair value of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets.

Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis



				Nine months ended Sept. 30,
(in millions)					2013	2012
Mortgages held for sale (LOCOM)				$	(13)	45
Loans held for sale					(1)	1
Loans:
	Commercial				(156)	(788)
	Consumer(1)				(1,803)	(2,813)
		Total loans			(1,959)	(3,601)
Other assets (2)					(191)	(320)
			Total	$	(2,164)	(3,875)

Represents write-downs of loans based on the appraised value of the collateral.
Includes the losses on foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs



			Fair Value			Significant		Range				Weighted
($ in millions)			Level 3		Valuation Technique(s) (1)	Unobservable Inputs (1)		of inputs				Average (2)
September 30, 2013
Residential mortgages held for sale
	(LOCOM)	$	922	(3)	Discounted cash flow	Default rate	(4)	1.2	-	5.6	%	2.7	%
						Discount rate		4.3	-	12.1		11.1
						Loss severity		1.9	-	47.5		5.2
						Prepayment rate	(5)	2.0	-	100.0		67.1
Insignificant level 3 assets			129
	Total		1,051

December 31, 2012
Residential mortgages held for sale		$	1,045	(3)	Discounted cash flow	Default rate	(4)	2.9	-	21.2	%	7.9	%
	(LOCOM)					Discount rate		4.1	-	11.9		10.9
						Loss severity		2.0	-	45.0		6.0
						Prepayment rate	(5)	1.0	-	100.0		66.7
Insignificant level 3 assets			148
	Total		1,193

Refer to the narrative following the recurring quantitative Level 3 table of this Note for a definition of the valuation technique(s) and significant unobservable inputs.
Weighted averages are calculated using outstanding unpaid principal balance of the loans.
Consists of approximately $853 million and $942 million government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitization, at September 30, 2013 and December 31, 2012, respectively and $69 million and $103 million of other mortgage loans which are not government insured/guaranteed at September 30, 2013 and December 31, 2012, respectively.
Applies only to non-government insured/guaranteed loans.
Includes the impact on prepayment rate of expected defaults for the government insured/guaranteed loans, which impacts the frequency and timing of early resolution of loans.

Fair Value Investments in Entites that Calculate Net Asset Value Per Share



						Redemption
			Fair	Unfunded	Redemption	notice
(in millions)			value	commitments	frequency	period
September 30, 2013
Offshore funds		$	391	-	Daily - Quarterly	1 - 180 days
Funds of funds			-	-	N/A	N/A
Hedge funds			3	-	Monthly - Semi Annually	5 - 95 days
Private equity funds			740	170	N/A	N/A
Venture capital funds			77	16	N/A	N/A
	Total	$	1,211	186
December 31, 2012
Offshore funds		$	379	-	Daily - Annually	1 - 180 days
Funds of funds			1	-	Quarterly	90 days
Hedge funds			2	-	Daily - Annually	5 - 95 days
Private equity funds			807	195	N/A	N/A
Venture capital funds			82	21	N/A	N/A
	Total	$	1,271	216

N/A - Not applicable

Fair Value Option, Carrying Amount



			September 30, 2013				December 31, 2012
					Fair value				Fair value
					carrying				carrying
					amount				amount
					less				less
		Fair value		Aggregate	aggregate		Fair value	Aggregate	aggregate
			carrying	unpaid	unpaid		carrying	unpaid	unpaid
(in millions)			amount	principal	principal		amount	principal	principal
Mortgages held for sale:
	Total loans	$	23,209	22,836	373	(1)	42,305	41,183	1,122	(1)
	Nonaccrual loans		264	460	(196)		309	655	(346)
	Loans 90 days or more past due and still accruing		36	43	(7)		49	64	(15)
Loans held for sale:
	Total loans		2	9	(7)		6	10	(4)
	Nonaccrual loans		2	9	(7)		2	6	(4)
Loans:
	Total loans		6,051	5,689	362		6,206	5,669	537
	Nonaccrual loans		141	142	(1)		89	89	-
	Loans 90 days or more past due and still accruing		18	17	1		-	-	-
Other assets (2)			911	n/a	n/a		-	n/a	n/a
Long-term debt			-	(199)	199	(3)	(1)	(1,157)	1,156	(3)

The difference between fair value carrying amount and aggregate unpaid principal includes changes in fair value recorded at and subsequent to funding, gains and losses on the related loan commitment prior to funding, and premiums on acquired loans.
Consists of nonmarketable equity investments carried at fair value. See Note 6 for more information.
Represents collateralized, non-recourse debt securities issued by certain of our consolidated securitization VIEs that are held by third party investors. To the extent cash flows from the underlying collateral are not sufficient to pay the unpaid principal amount of the debt, those third party investors absorb losses.

Fair Value Option, Gains and Losses



		2013				2012
				Net gains			Net gains
		Mortgage		(losses)		Mortgage	(losses)
		banking		from	Other	banking	from	Other
		noninterest		trading	noninterest	noninterest	trading	noninterest
(in millions)			income	activities	income	income	activities	income
Quarter ended September 30,
Mortgages held for sale		$	771	-	-	2,594	-	-
Loans held for sale			-	-	-	-	-	4
Loans			-	-	(21)	-	-	54
Other assets			-	-	54	-	-	-
Long-term debt			-	-	-	-	-	(19)
Other interests held (1)			-	(4)	-	-	(12)	18

Nine months ended September 30,
Mortgages held for sale		$	1,805	-	-	6,915	-	1
Loans held for sale			-	-	-	-	-	23
Loans			-	-	(175)	-	-	81
Other assets			-	-	93	-	-	-
Long-term debt			-	-	-	-	-	(23)
Other interests held (1)			-	(17)	6	-	(36)	33


(1)	Consists of retained interests in securitization and changes in fair value of letters of credit.

Fair Value Option, Instrument Specific Credit Risk



			Quarter ended Sept. 30,			Nine months ended Sept. 30,
(in millions)				2013	2012	2013	2012
Gains (losses) attributable to instrument-specific credit risk:
	Mortgages held for sale		$	1	(8)	126	(99)
	Loans held for sale			-	4	-	23
		Total	$	1	(4)	126	(76)

Fair Value, Estimated for Financial Instruments Not Carried at Fair Value



					Estimated fair value
(in millions)				Carrying amount	Level 1	Level 2	Level 3	Total
September 30, 2013

Financial assets
	Cash and due from banks (1)		$	18,928	18,928	-	-	18,928
	Federal funds sold, securities purchased under resale
		agreements and other short-term investments (1)		182,036	5,327	176,709	-	182,036
	Mortgages held for sale (2)			2,186	-	1,267	922	2,189
	Loans held for sale (2)			202	-	182	24	206
	Loans, net (3)			779,525	-	56,776	728,612	785,388
	Nonmarketable equity investments (cost method)			7,201	-	-	8,700	8,700
Financial liabilities
	Deposits			1,041,871	-	996,869	45,421	1,042,290
	Short-term borrowings (1)			53,851	-	53,851	-	53,851
	Long-term debt (4)			151,201	-	142,862	10,678	153,540
December 31, 2012

Financial assets
	Cash and due from banks (1)		$	21,860	21,860	-	-	21,860
	Federal funds sold, securities purchased under resale
		agreements and other short-term investments (1)		137,313	5,046	132,267	-	137,313
	Mortgages held for sale (2)			4,844	-	3,808	1,045	4,853
	Loans held for sale (2)			104	-	83	29	112
	Loans, net (3)			763,968	-	56,237	716,114	772,351
	Nonmarketable equity investments (cost method)			6,799	-	2	8,229	8,231
Financial liabilities
	Deposits			1,002,835	-	946,922	57,020	1,003,942
	Short-term borrowings (1)			57,175	-	57,175	-	57,175
	Long-term debt (4)			127,366	-	119,220	11,063	130,283

Amounts consist of financial instruments in which carrying value approximates fair value.
Balance reflects MHFS and LHFS, as applicable, other than those MHFS and LHFS for which election of the fair value option was made.
Loans exclude balances for which the fair value option was elected and also exclude lease financing with a carrying amount of $11.7 billion and $12.4 billion at September 30, 2013 and December 31, 2012, respectively.
The carrying amount and fair value exclude balances for which the fair value option was elected and obligations under capital leases of $11 million and $12 million at September 30, 2013 and December 31, 2012, respectively.