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Preferred Stock (Tables)
9 Months Ended
Sep. 30, 2011
Preferred Stock (Tables) [Abstract] 
Detail of Preferred Stock
          
      September 30, 2011 and December 31, 2010
        LiquidationShares
        preferenceauthorized
  per shareand designated
DEP Shares   
Dividend Equalization Preferred Shares$ 10 97,000
Series A    
Non-Cumulative Perpetual    
 Preferred Stock  100,000 25,001
Series B    
Non-Cumulative Perpetual    
 Preferred Stock  100,000 17,501
Series G    
7.25% Class A Preferred Stock  15,000 50,000
Series H   
Floating Class A Preferred Stock  20,000 50,000
Series I    
5.80% Fixed to Floating Class A    
 Preferred Stock  100,000 25,010
Series J    
8.00% Non-Cumulative Perpetual    
 Class A Preferred Stock  1,000 2,300,000
Series K    
7.98% Fixed-to-Floating Non-Cumulative    
 Perpetual Class A Preferred Stock  1,000 3,500,000
Series L   
7.50% Non-Cumulative Perpetual    
 Convertible Class A Preferred Stock  1,000 4,025,000
 Total   10,089,512
          
          

                  
       September 30, 2011 December 31, 2010
       Shares     Shares    
 issued and Carrying  issued and  Carrying 
(in millions, except shares)outstandingPar valuevalueDiscount outstanding Par valuevalueDiscount
DEP Shares           
Dividend Equalization Preferred Shares 96,546$ - - -  96,546$ - - -
Series I (1)           
5.80% Fixed to Floating Class A Preferred Stock 25,010  2,501 2,501 -  -  - - -
Series J (1)           
8.00% Non-Cumulative Perpetual Class A            
 Preferred Stock 2,150,375  2,150 1,995 155  2,150,375  2,150 1,995 155
Series K (1)           
7.98% Fixed-to-Floating Non-Cumulative            
 Perpetual Class A Preferred Stock 3,352,000  3,352 2,876 476  3,352,000  3,352 2,876 476
Series L (1)           
7.50% Non-Cumulative Perpetual            
 Convertible Class A Preferred Stock 3,968,000  3,968 3,200 768  3,968,000  3,968 3,200 768
 Total 9,591,931$ 11,971 10,572 1,399  9,566,921$ 9,470 8,071 1,399
                  

  • Preferred shares qualify as Tier 1 capital.
Detail of Employee Stock Ownership Plan Preferred Stock
                  
       Shares issued and outstanding  Carrying value Adjustable
       Sept. 30,Dec. 31,  Sept. 30,Dec. 31, dividend rate
(in millions, except shares)20112010  2011 2010 MinimumMaximum
ESOP Preferred Stock            
$1,000 liquidation preference per share           
 2011     415,959 - $ 416  -  9.00% 10.00
 2010     262,361 287,161   262  287  9.50  10.50
 2008     99,154 104,854   99  105  10.50  11.50
 2007     79,414 82,994   80  83  10.75  11.75
 2006     56,112 58,632   56  59  10.75  11.75
 2005     39,092 40,892   39  41  9.75  10.75
 2004     25,615 26,815   26  27  8.50  9.50
 2003     12,981 13,591   13  13  8.50  9.50
 2002     3,283 3,443   3  3  10.50  11.50
Total ESOP Preferred Stock (1) 993,971 618,382 $ 994  618    
Unearned ESOP shares (2)   $ (1,071)  (663)    
                  
                  

  • At September 30, 2011, and December 31, 2010, additional paid-in capital included $77 million and $45 million, respectively, related to preferred stock.       
  • We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released.