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Securities Available for Sale (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]



	September 30, 2014
(Dollars in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury securities		$1,007		$6		$2		$1,011
Federal agency securities	986		15		31		970
U.S. states and political subdivisions	228		9		—		237
MBS - agency	22,508		501		198		22,811
MBS - private	129		3		—		132
ABS	19		2		—		21
Corporate and other debt securities	38		3		—		41
Other equity securities ¹	937		2		—		939
Total securities AFS		$25,852		$541		$231		$26,162

	December 31, 2013
(Dollars in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury securities		$1,334		$6		$47		$1,293
Federal agency securities	1,028		13		57		984
U.S. states and political subdivisions	232		7		2		237
MBS - agency	18,915		421		425		18,911
MBS - private	155		1		2		154
ABS	78		2		1		79
Corporate and other debt securities	39		3		—		42
Other equity securities ¹	841		1		—		842
Total securities AFS		$22,622		$454		$534		$22,542

¹At September 30, 2014, other equity securities comprised the following: $421 million in FHLB of Atlanta stock, $402 million in Federal Reserve Bank stock, $109 million in mutual fund investments, and $7 million of other. At December 31, 2013, other equity securities comprised the following: $336 million in FHLB of Atlanta stock, $402 million in Federal Reserve Bank stock, $103 million in mutual fund investments, and $1 million of other.

Investment Income [Table Text Block]



	Three Months Ended September 30				Nine Months Ended September 30
(Dollars in millions)	2014		2013		2014		2013
Taxable interest		$142		$132		$421		$397
Tax-exempt interest	2		3		8		8
Dividends	9		8		27		24
Total interest and dividends		$153		$143		$456		$429

Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life



	Distribution of Maturities
(Dollars in millions)	1 Year or Less			1-5 Years			5-10 Years			After 10 Years			Total
Amortized Cost:
U.S. Treasury securities		$—			$1,007			$—			$—			$1,007
Federal agency securities	75			239			531			141			986
U.S. states and political subdivisions	60			44			101			23			228
MBS - agency	2,349			9,020			6,919			4,220			22,508
MBS - private	5			124			—			—			129
ABS	14			3			2			—			19
Corporate and other debt securities	5			33			—			—			38
Total debt securities		$2,508			$10,470			$7,553			$4,384			$24,915
Fair Value:
U.S. Treasury securities		$—			$1,011			$—			$—			$1,011
Federal agency securities	75			250			506			139			970
U.S. states and political subdivisions	60			47			105			25			237
MBS - agency	2,490			9,203			6,956			4,162			22,811
MBS - private	5			127			—			—			132
ABS	14			5			2			—			21
Corporate and other debt securities	5			36			—			—			41
Total debt securities		$2,649			$10,679			$7,569			$4,326			$25,223
Weighted average yield ¹	2.47		%	2.46		%	2.89		%	3.09		%	2.70		%

¹Average yields are based on amortized cost and presented on a FTE basis.

Securities in a Continuous Unrealized Loss Position



	September 30, 2014
	Less than twelve months				Twelve months or longer				Total
(Dollars in millions)	Fair Value		Unrealized Losses ²		Fair Value		Unrealized Losses ²		Fair Value		Unrealized Losses ²
Temporarily impaired securities:
U.S. Treasury securities		$385		$2		$—		$—		$385		$2
Federal agency securities	8		—		615		31		623		31
MBS - agency	4,259		14		5,804		184		10,063		198
ABS	—		—		14		—		14		—
Total temporarily impaired securities		$4,652		$16		$6,433		$215		$11,085		$231



	December 31, 2013
	Less than twelve months				Twelve months or longer				Total
(Dollars in millions)	Fair Value		Unrealized Losses ²		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Temporarily impaired securities:
U.S. Treasury securities		$1,036		$47		$—		$—		$1,036		$47
Federal agency securities	398		29		264		28		662		57
U.S. states and political subdivisions	12		—		20		2		32		2
MBS - agency	9,173		358		618		67		9,791		425
ABS	—		—		13		1		13		1
Total temporarily impaired securities	10,619		434		915		98		11,534		532
OTTI securities ¹:
MBS - private	105		2		—		—		105		2
Total OTTI securities	105		2		—		—		105		2
Total impaired securities		$10,724		$436		$915		$98		$11,639		$534

¹Includes OTTI securities for which credit losses have been recorded in earnings in current or prior periods.

²Securities with unrealized losses less than $0.5 million are shown as zero.

Gross Realized Gains and Losses on Sales and OTTI on Securities AFS



	Three Months Ended September 30					Nine Months Ended September 30
(Dollars in millions)	2014			2013		2014			2013
Gross realized gains		$3			$—		$3			$4
Gross realized losses	(12		)	—		(13		)	(1		)
OTTI losses recognized in earnings	—			—		(1		)	(1		)
Net securities (losses)/gains		($9	)		$—		($11	)		$2

Other Than Temporary Impairment Losses On Investment Securities [Table Text Block]




	Nine Months Ended September 30
(Dollars in millions)	2014		2013
OTTI ¹		$—		$—
Portion of gains recognized in OCI (before taxes)	1		1
Net impairment losses recognized in earnings		$1		$1

¹The initial OTTI amount represents the excess of the amortized cost over the fair value of AFS debt securities. For subsequent impairments of the same security, amount includes additional declines in the fair value subsequent to the previously recorded OTTI, if applicable, until such time the security is no longer in an unrealized loss position.

Rollforward of Credit Losses Recognized in Earnings Related to Securities



	Three Months Ended September 30					Nine Months Ended September 30
(Dollars in millions)	2014		2013			2014			2013
Balance, beginning of period		$25		$32			$25			$31
Additions:
OTTI credit losses on previously impaired securities	—		—			1			1
Reductions:
Increases in expected cash flows recognized over the remaining life of the securities	—		(1		)	(1		)	(1		)
Balance, end of period		$25		$31			$25			$31

Measurement Of Investment Credit Losses Assumptions [Table Text Block]



	2014 ¹	2013
Default rate	2%	2 - 9%
Prepayment rate	16%	7 - 21%
Loss severity	46%	46 - 74%

¹ During the nine months ended September 30, 2014, all OTTI recognized in earnings related to one private MBS security.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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