Note 4: Investment Securities

Table 4.1 provides the amortized cost and fair value by major categories of available-for-sale securities, which are carried at fair value, and held-to-maturity debt securities, which are carried at amortized cost. The net unrealized gains (losses) for available-for-sale securities are reported on an after-tax basis as a component of cumulative OCI.

Table 4.1: Amortized Cost and Fair Value



(in millions)	Amortized Cost		Gross unrealized gains	Gross unrealized losses		Fair value
September 30, 2016
Available-for-sale securities:
Securities of U.S. Treasury and federal agencies	$	25,968	410	(2	)	26,376
Securities of U.S. states and political subdivisions	56,000		910	(1,544	)	55,366
Mortgage-backed securities:
Federal agencies	132,732		3,020	(60	)	135,692
Residential	7,881		653	(7	)	8,527
Commercial	9,801		126	(67	)	9,860
Total mortgage-backed securities	150,414		3,799	(134	)	154,079
Corporate debt securities	12,506		389	(174	)	12,721
Collateralized loan and other debt obligations (1)	35,201		292	(48	)	35,445
Other (2)	6,278		128	(35	)	6,371
Total debt securities	286,367		5,928	(1,937	)	290,358
Marketable equity securities:
Perpetual preferred securities	529		65	(3	)	591
Other marketable equity securities	222		420	—		642
Total marketable equity securities	751		485	(3	)	1,233
Total available-for-sale securities	287,118		6,413	(1,940	)	291,591
Held-to-maturity securities:
Securities of U.S. Treasury and federal agencies	44,682		2,209	—		46,891
Securities of U.S. states and political subdivisions	2,994		121	(8	)	3,107
Federal agency and other mortgage-backed securities (3)	47,721		969	—		48,690
Collateralized loan obligations	1,406		7	(2	)	1,411
Other (2)	2,438		11	(1	)	2,448
Total held-to-maturity securities	99,241		3,317	(11	)	102,547
Total	$	386,359	9,730	(1,951	)	394,138
December 31, 2015
Available-for-sale securities:
Securities of U.S. Treasury and federal agencies	$	36,374	24	(148	)	36,250
Securities of U.S. states and political subdivisions	49,167		1,325	(502	)	49,990
Mortgage-backed securities:
Federal agencies	103,391		1,983	(828	)	104,546
Residential	7,843		740	(25	)	8,558
Commercial	13,943		230	(85	)	14,088
Total mortgage-backed securities	125,177		2,953	(938	)	127,192
Corporate debt securities	15,548		312	(449	)	15,411
Collateralized loan and other debt obligations (1)	31,210		125	(368	)	30,967
Other (2)	5,842		115	(46	)	5,911
Total debt securities	263,318		4,854	(2,451	)	265,721
Marketable equity securities:
Perpetual preferred securities	819		112	(13	)	918
Other marketable equity securities	239		482	(2	)	719
Total marketable equity securities	1,058		594	(15	)	1,637
Total available-for-sale securities	264,376		5,448	(2,466	)	267,358
Held-to-maturity securities:
Securities of U.S. Treasury and federal agencies	44,660		580	(73	)	45,167
Securities of U.S. states and political subdivisions	2,185		65	—		2,250
Federal agency and other mortgage-backed securities (3)	28,604		131	(314	)	28,421
Collateralized loan obligations	1,405		—	(24	)	1,381
Other (2)	3,343		8	(3	)	3,348
Total held-to-maturity securities	80,197		784	(414	)	80,567
Total	$	344,573	6,232	(2,880	)	347,925


(1)	The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $824 million and $832 million, respectively, at September 30, 2016, and $247 million and $257 million, respectively, at December 31, 2015.

(2)

The “Other” category of available-for-sale securities largely includes asset-backed securities collateralized by credit cards, student loans, home equity loans and automobile leases or loans and cash. Included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by automobile leases or loans and cash with a cost basis and fair value of $1.4 billion each at September 30, 2016, and $1.9 billion each at December 31, 2015. Also included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by dealer floorplan loans with a cost basis and fair value of $1.1 billion each at September 30, 2016, and $1.4 billion each at December 31, 2015.


(3)	Predominantly consists of federal agency mortgage-backed securities at September 30, 2016. The entire balance consists of federal agency mortgage-backed securities at December 31, 2015.

Gross Unrealized Losses and Fair Value

Table 4.2 shows the gross unrealized losses and fair value of securities in the investment securities portfolio by length of time that individual securities in each category have been in a continuous loss position. Debt securities on which we have taken credit-related OTTI write-downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the cost basis and not the period of time since the credit-related OTTI write-down.

Table 4.2: Gross Unrealized Losses and Fair Value



	Less than 12 months				12 months or more			Total
(in millions)	Gross unrealized losses			Fair value	Gross unrealized losses		Fair value	Gross unrealized losses		Fair value
September 30, 2016
Available-for-sale securities:
Securities of U.S. Treasury and federal agencies	$	(2	)	2,033	—		—	(2	)	2,033
Securities of U.S. states and political subdivisions	(455		)	21,306	(1,089	)	12,596	(1,544	)	33,902
Mortgage-backed securities:
Federal agencies	(7		)	4,785	(53	)	3,697	(60	)	8,482
Residential	(3		)	379	(4	)	210	(7	)	589
Commercial	(23		)	1,255	(44	)	2,415	(67	)	3,670
Total mortgage-backed securities	(33		)	6,419	(101	)	6,322	(134	)	12,741
Corporate debt securities	(11		)	758	(163	)	1,683	(174	)	2,441
Collateralized loan and other debt obligations	(6		)	754	(42	)	5,256	(48	)	6,010
Other	(7		)	1,107	(28	)	1,304	(35	)	2,411
Total debt securities	(514		)	32,377	(1,423	)	27,161	(1,937	)	59,538
Marketable equity securities:
Perpetual preferred securities	(1		)	5	(2	)	51	(3	)	56
Other marketable equity securities	—			—	—		—	—		—
Total marketable equity securities	(1		)	5	(2	)	51	(3	)	56
Total available-for-sale securities	(515		)	32,382	(1,425	)	27,212	(1,940	)	59,594
Held-to-maturity securities:
Securities of U.S. Treasury and federal agencies	—			—	—		—	—		—
Securities of U.S. states and political subdivisions	(5		)	547	(3	)	252	(8	)	799
Federal agency and other mortgage-backed securities	—			—	—		—	—		—
Collateralized loan obligations	—			—	(2	)	285	(2	)	285
Other	(1		)	739	—		—	(1	)	739
Total held-to-maturity securities	(6		)	1,286	(5	)	537	(11	)	1,823
Total	$	(521	)	33,668	(1,430	)	27,749	(1,951	)	61,417
December 31, 2015
Available-for-sale securities:
Securities of U.S. Treasury and federal agencies	$	(148	)	24,795	—		—	(148	)	24,795
Securities of U.S. states and political subdivisions	(26		)	3,453	(476	)	12,377	(502	)	15,830
Mortgage-backed securities:
Federal agencies	(522		)	36,329	(306	)	9,888	(828	)	46,217
Residential	(20		)	1,276	(5	)	285	(25	)	1,561
Commercial	(32		)	4,476	(53	)	2,363	(85	)	6,839
Total mortgage-backed securities	(574		)	42,081	(364	)	12,536	(938	)	54,617
Corporate debt securities	(244		)	4,941	(205	)	1,057	(449	)	5,998
Collateralized loan and other debt obligations	(276		)	22,214	(92	)	4,844	(368	)	27,058
Other	(33		)	2,768	(13	)	425	(46	)	3,193
Total debt securities	(1,301		)	100,252	(1,150	)	31,239	(2,451	)	131,491
Marketable equity securities:
Perpetual preferred securities	(1		)	24	(12	)	109	(13	)	133
Other marketable equity securities	(2		)	40	—		—	(2	)	40
Total marketable equity securities	(3		)	64	(12	)	109	(15	)	173
Total available-for-sale securities	(1,304		)	100,316	(1,162	)	31,348	(2,466	)	131,664
Held-to-maturity securities:
Securities of U.S. Treasury and federal agencies	(73		)	5,264	—		—	(73	)	5,264
Securities of U.S. states and political subdivisions	—			—	—		—	—		—
Federal agency and other mortgage-backed securities	(314		)	23,115	—		—	(314	)	23,115
Collateralized loan obligations	(20		)	1,148	(4	)	233	(24	)	1,381
Other	(3		)	1,096	—		—	(3	)	1,096
Total held-to-maturity securities	(410		)	30,623	(4	)	233	(414	)	30,856
Total	$	(1,714	)	130,939	(1,166	)	31,581	(2,880	)	162,520

We have assessed each security with gross unrealized losses included in the previous table for credit impairment. As part of that assessment we evaluated and concluded that we do not intend to sell any of the securities and that it is more likely than not that we will not be required to sell prior to recovery of the amortized cost basis. For debt securities, we evaluate, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the securities’ amortized cost basis. For equity securities, we consider numerous factors in determining whether impairment exists, including our intent and ability to hold the securities for a period of time sufficient to recover the cost basis of the securities.

For descriptions of the factors we consider when analyzing securities for impairment, see Note 1 (Summary of Significant Accounting Policies) and Note 5 (Investment Securities) to Financial Statements in our 2015 Form 10-K. There were no material changes to our methodologies for assessing impairment in the first nine months of 2016.

Table 4.3 shows the gross unrealized losses and fair value of debt and perpetual preferred investment securities by those rated investment grade and those rated less than investment grade, according to their lowest credit rating by Standard & Poor’s Rating Services (S&P) or Moody’s Investors Service (Moody’s). Credit ratings express opinions about the credit quality of a security. Securities rated investment grade, that is those rated BBB- or higher by S&P or Baa3 or higher by Moody’s, are generally considered by the rating agencies and market participants to be low credit risk. Conversely, securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade securities. We have also included securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the securities (used for credit risk management purposes) equivalent to the credit rating assigned by major credit agencies. The unrealized losses and fair value of unrated securities categorized as investment grade based on internal credit grades were $63 million and $4.0 billion, respectively, at September 30, 2016, and $17 million and $3.7 billion, respectively, at December 31, 2015. If an internal credit grade was not assigned, we categorized the security as non-investment grade.

Table 4.3: Gross Unrealized Losses and Fair Value by Investment Grade



	Investment grade				Non-investment grade
(in millions)	Gross unrealized losses			Fair value	Gross unrealized losses		Fair value
September 30, 2016
Available-for-sale securities:
Securities of U.S. Treasury and federal agencies	$	(2	)	2,033	—		—
Securities of U.S. states and political subdivisions	(1,509		)	33,572	(35	)	330
Mortgage-backed securities:
Federal agencies	(60		)	8,482	—		—
Residential	(1		)	150	(6	)	439
Commercial	(20		)	3,041	(47	)	629
Total mortgage-backed securities	(81		)	11,673	(53	)	1,068
Corporate debt securities	(78		)	1,417	(96	)	1,024
Collateralized loan and other debt obligations	(48		)	6,010	—		—
Other	(30		)	2,043	(5	)	368
Total debt securities	(1,748		)	56,748	(189	)	2,790
Perpetual preferred securities	(3		)	56	—		—
Total available-for-sale securities	(1,751		)	56,804	(189	)	2,790
Held-to-maturity securities:
Securities of U.S. Treasury and federal agencies	—			—	—		—
Securities of U.S. states and political subdivisions	(8		)	799	—		—
Federal agency and other mortgage-backed securities	—			—	—		—
Collateralized loan obligations	(2		)	285	—		—
Other	(1		)	739	—		—
Total held-to-maturity securities	(11		)	1,823	—		—
Total	$	(1,762	)	58,627	(189	)	2,790
December 31, 2015
Available-for-sale securities:
Securities of U.S. Treasury and federal agencies	$	(148	)	24,795	—		—
Securities of U.S. states and political subdivisions	(464		)	15,470	(38	)	360
Mortgage-backed securities:
Federal agencies	(828		)	46,217	—		—
Residential	(12		)	795	(13	)	766
Commercial	(59		)	6,361	(26	)	478
Total mortgage-backed securities	(899		)	53,373	(39	)	1,244
Corporate debt securities	(140		)	4,167	(309	)	1,831
Collateralized loan and other debt obligations	(368		)	27,058	—		—
Other	(43		)	2,915	(3	)	278
Total debt securities	(2,062		)	127,778	(389	)	3,713
Perpetual preferred securities	(13		)	133	—		—
Total available-for-sale securities	(2,075		)	127,911	(389	)	3,713
Held-to-maturity securities:
Securities of U.S. Treasury and federal agencies	(73		)	5,264	—		—
Securities of U.S. states and political subdivisions	—			—	—		—
Federal agency and other mortgage-backed securities	(314		)	23,115	—		—
Collateralized loan obligations	(24		)	1,381	—		—
Other	(3		)	1,096	—		—
Total held-to-maturity securities	(414		)	30,856	—		—
Total	$	(2,489	)	158,767	(389	)	3,713

Contractual Maturities

Table 4.4 shows the remaining contractual maturities and contractual weighted-average yields (taxable-equivalent basis) of available-for-sale debt securities. The remaining contractual principal maturities for MBS do not consider prepayments. Remaining expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature.

Table 4.4: Contractual Maturities



					Remaining contractual maturity
	Total				Within one year				After one year through five years				After five years through ten years				After ten years
(in millions)	amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield
September 30, 2016
Available-for-sale debt securities (1):
Fair value:
Securities of U.S. Treasury and federal agencies	$	26,376	1.44	%	$	110	1.39	%	$	25,217	1.42	%	$	1,049	1.80	%	$	—	—	%
Securities of U.S. states and political subdivisions	55,366		5.76		2,985		1.70		9,305		2.80		2,885		5.06		40,191		6.79
Mortgage-backed securities:
Federal agencies	135,692		3.11		—		—		133		2.95		2,930		3.37		132,629		3.10
Residential	8,527		3.86		—		—		27		5.19		37		4.29		8,463		3.86
Commercial	9,860		4.82		—		—		—		—		31		3.15		9,829		4.82
Total mortgage-backed securities	154,079		3.26		—		—		160		3.33		2,998		3.38		150,921		3.26
Corporate debt securities	12,721		4.78		2,264		3.12		4,210		5.50		4,956		4.77		1,291		5.36
Collateralized loan and other debt obligations	35,445		2.53		1		1.03		361		1.32		16,965		2.48		18,118		2.61
Other	6,371		2.09		57		3.00		916		2.34		1,163		2.02		4,235		2.04
Total available-for-sale debt securities at fair value	$	290,358	3.52	%	$	5,417	2.30	%	$	40,169	2.20	%	$	30,016	3.16	%	$	214,756	3.85	%
December 31, 2015
Available-for-sale debt securities (1):									`
Fair value:
Securities of U.S. Treasury and federal agencies	$	36,250	1.49	%	$	216	0.77	%	$	31,602	1.44	%	$	4,432	1.86	%	$	—	—	%
Securities of U.S. states and political subdivisions	49,990		5.82		1,969		2.09		7,709		2.02		3,010		5.25		37,302		6.85
Mortgage-backed securities:
Federal agencies	104,546		3.29		3		6.55		373		1.58		1,735		3.84		102,435		3.29
Residential	8,558		4.17		—		—		34		5.11		34		6.03		8,490		4.16
Commercial	14,088		5.06		—		—		61		2.79		—		—		14,027		5.07
Total mortgage-backed securities	127,192		3.54		3		6.55		468		1.99		1,769		3.88		124,952		3.55
Corporate debt securities	15,411		4.57		1,960		3.84		6,731		4.47		5,459		4.76		1,261		5.47
Collateralized loan and other debt obligations	30,967		2.08		2		0.33		804		0.90		12,707		2.01		17,454		2.19
Other	5,911		2.05		68		2.47		1,228		2.57		953		1.94		3,662		1.89
Total available-for-sale debt securities at fair value	$	265,721	3.55	%	$	4,218	2.84	%	$	48,542	1.98	%	$	28,330	2.98	%	$	184,631	4.07	%


(1)	Weighted-average yields displayed by maturity bucket are weighted based on fair value and predominantly represent contractual coupon rates without effect for any related hedging derivatives.

Table 4.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity.

Table 4.5: Amortized Cost by Contractual Maturity



					Remaining contractual maturity
	Total				Within one year				After one year through five years				After five years through ten years				After ten years
(in millions)	amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield
September 30, 2016
Held-to-maturity securities (1):
Amortized cost:
Securities of U.S. Treasury and federal agencies	$	44,682	2.12	%	$	—	—	%	$	24,638	2.08	%	$	20,044	2.16	%	$	—	—	%
Securities of U.S. states and political subdivisions	2,994		5.86		—		—		—		—		203		7.25		2,791		5.76
Federal agency and other mortgage-backed securities	47,721		3.24		—		—		—		—		—		—		47,721		3.24
Collateralized loan obligations	1,406		2.42		—		—		—		—		1,406		2.42		—		—
Other	2,438		1.69		—		—		1,790		1.69		648		1.68		—		—
Total held-to-maturity debt securities at amortized cost	$	99,241	2.76	%	$	—	—	%	$	26,428	2.05	%	$	22,301	2.21	%	$	50,512	3.38	%
December 31, 2015
Held-to-maturity securities (1):
Amortized cost:
Securities of U.S. Treasury and federal agencies	$	44,660	2.12	%	$	—	—	%	$	1,276	1.75	%	$	43,384	2.13	%	$	—	—	%
Securities of U.S. states and political subdivisions	2,185		5.97		—		—		—		—		104		7.49		2,081		5.89
Federal agency and other mortgage-backed securities	28,604		3.47		—		—		—		—		—		—		28,604		3.47
Collateralized loan obligations	1,405		2.03		—		—		—		—		—		—		1,405		2.03
Other	3,343		1.68		—		—		2,351		1.74		992		1.53		—		—
Total held-to-maturity debt securities at amortized cost	$	80,197	2.69	%	$	—	—	%	$	3,627	1.74	%	$	44,480	2.13	%	$	32,090	3.57	%


(1)	Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates.

Table 4.6 shows the fair value of held-to-maturity debt securities by contractual maturity.

Table 4.6: Fair Value by Contractual Maturity



			Remaining contractual maturity
	Total		Within one year	After one year through five years	After five years through ten years	After ten years
(in millions)	amount		Amount	Amount	Amount	Amount
September 30, 2016
Held-to-maturity securities:
Fair value:
Securities of U.S. Treasury and federal agencies	$	46,891	—	25,782	21,109	—
Securities of U.S. states and political subdivisions	3,107		—	—	213	2,894
Federal agency and other mortgage-backed securities	48,690		—	—	—	48,690
Collateralized loan obligations	1,411		—	—	1,411	—
Other	2,448		—	1,795	653	—
Total held-to-maturity debt securities at fair value	$	102,547	—	27,577	23,386	51,584
December 31, 2015
Held-to-maturity securities:
Fair value:
Securities of U.S. Treasury and federal agencies	$	45,167	—	1,298	43,869	—
Securities of U.S. states and political subdivisions	2,250		—	—	105	2,145
Federal agency and other mortgage-backed securities	28,421		—	—	—	28,421
Collateralized loan obligations	1,381		—	—	—	1,381
Other	3,348		—	2,353	995	—
Total held-to-maturity debt securities at fair value	$	80,567	—	3,651	44,969	31,947

Realized Gains and Losses

Table 4.7 shows the gross realized gains and losses on sales and OTTI write-downs related to the available-for-sale securities portfolio, which includes marketable equity securities, as well as net realized gains and losses on nonmarketable equity investments (see Note 6 (Other Assets)).

Table 4.7: Realized Gains and Losses



	Quarter ended Sep 30,					Nine months ended Sep 30,
(in millions)	2016			2015		2016		2015
Gross realized gains	$	266		530		1,215		1,133
Gross realized losses	(23		)	(21	)	(67	)	(57	)
OTTI write-downs	(52		)	(74	)	(147	)	(125	)
Net realized gains from available-for-sale securities	191			435		1,001		951
Net realized gains from nonmarketable equity investments	55			632		369		1,462
Net realized gains from debt securities and equity investments	$	246		1,067		1,370		2,413

Other-Than-Temporary Impairment

Table 4.8 shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities, marketable equity securities and nonmarketable equity investments. There were no OTTI write-downs on held-to-maturity securities during the first nine months of 2016 and 2015.

Table 4.8: OTTI Write-downs



	Quarter ended Sep 30,			Nine months ended Sep 30,
(in millions)	2016		2015	2016	2015
OTTI write-downs included in earnings
Debt securities:
Securities of U.S. states and political subdivisions	$	30	2	40	18
Mortgage-backed securities:
Residential	4		9	28	43
Commercial	10		3	11	3
Corporate debt securities	7		59	57	59
Other debt securities	—		—	6	—
Total debt securities	51		73	142	123
Equity securities:
Marketable equity securities:
Other marketable equity securities	1		1	5	2
Total marketable equity securities	1		1	5	2
Total investment securities (1)	52		74	147	125
Nonmarketable equity investments (1)	84		66	317	183
Total OTTI write-downs included in earnings (1)	$	136	140	464	308

(1)

The quarter ended September 30, 2016, includes $32 million in OTTI write-downs of oil and gas investments, of which $6 million related to investment securities and $26 million related to nonmarketable equity investments. Oil and gas related OTTI for the first nine months of 2016 totaled $185 million, of which $57 million related to investment securities and $128 million related to nonmarketable equity investments.

Other-Than-Temporarily Impaired Debt Securities

Table 4.9 shows the detail of OTTI write-downs on available-for-sale debt securities included in earnings and the related changes in OCI for the same securities.

Table 4.9: OTTI Write-downs Included in Earnings



	Quarter ended Sep 30,					Nine months ended Sep 30,
(in millions)	2016			2015		2016		2015
OTTI on debt securities
Recorded as part of gross realized losses:
Credit-related OTTI	$	21		70		102		109
Intent-to-sell OTTI	30			3		40		14
Total recorded as part of gross realized losses	51			73		142		123
Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1):
Securities of U.S. states and political subdivisions	—			—		—		(1	)
Residential mortgage-backed securities	(4		)	(6	)	1		(37	)
Commercial mortgage-backed securities	(11		)	2		(9	)	(13	)
Corporate debt securities	—			1		(13	)	1
Other debt securities	—			—		2		—
Total changes to OCI for non-credit-related OTTI	(15		)	(3	)	(19	)	(50	)
Total OTTI losses recorded on debt securities	$	36		70		123		73


(1)	Represents amounts recorded to OCI for impairment, due to factors other than credit, on debt securities that have also had credit-related OTTI write-downs during the period. Increases represent initial or subsequent non-credit-related OTTI on debt securities. Decreases represent partial to full reversal of impairment due to recoveries in the fair value of securities due to non-credit factors.

Table 4.10 presents a rollforward of the OTTI credit loss that has been recognized in earnings as a write-down of available-for-sale debt securities we still own (referred to as "credit-impaired" debt securities) and do not intend to sell. Recognized credit loss represents the difference between the present value of expected future cash flows discounted using the security’s current effective interest rate and the amortized cost basis of the security prior to considering credit loss.

Table 4.10: Rollforward of OTTI Credit Loss



	Quarter ended Sep 30,					Nine months ended Sep 30,
(in millions)	2016			2015		2016		2015
Credit loss recognized, beginning of period	$	1,080		993		1,092		1,025
Additions:
For securities with initial credit impairments	16			64		54		64
For securities with previous credit impairments	5			6		48		45
Total additions	21			70		102		109
Reductions:
For securities sold, matured, or intended/required to be sold	(22		)	(23	)	(111	)	(89	)
For recoveries of previous credit impairments (1)	(2		)	(1	)	(6	)	(6	)
Total reductions	(24		)	(24	)	(117	)	(95	)
Credit loss recognized, end of period	$	1,077		1,039		1,077		1,039


(1)	Recoveries of previous credit impairments result from increases in expected cash flows subsequent to credit loss recognition. Such recoveries are reflected prospectively as interest yield adjustments using the effective interest method.