Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Positions

	December 31, 2015
	Asset Derivatives					Liability Derivatives
(Dollars in millions)	Notional Amounts		Fair Value			Notional Amounts		Fair Value
Derivative instruments designated in cash flow hedging relationships 1
Interest rate contracts hedging floating rate loans		$14,500		$130			$2,900		$11
Derivative instruments designated in fair value hedging relationships 2
Interest rate contracts hedging fixed rate debt	1,700		14			600		—
Interest rate contracts hedging brokered CDs	30		—			—		—
Total	1,730		14			600		—
Derivative instruments not designated as hedging instruments 3
Interest rate contracts hedging:
MSRs	7,782		198			16,882		98
LHFS, IRLCs 4	4,309		10			2,520		5
LHFI	15		—			40		1
Trading activity 5	67,426		1,983			68,125		1,796
Foreign exchange rate contracts hedging trading activity	3,648		127			3,227		122
Credit contracts hedging:
Loans	—		—			175		2
Trading activity 6	2,232		57			2,385		54
Equity contracts hedging trading activity 5	19,138		1,812			27,154		2,222
Other contracts:
IRLCs and other 7	2,024		21			299		6
Commodities	453		113			448		111
Total	107,027		4,321			121,255		4,417
Total derivative instruments		$123,257		$4,465			$124,755		$4,428
Total gross derivative instruments, before netting				$4,465					$4,428
Less: Legally enforceable master netting agreements			(2,916		)			(2,916		)
Less: Cash collateral received/paid			(397		)			(1,048		)
Total derivative instruments, after netting				$1,152					$464

¹ See “Cash Flow Hedges” in this Note for further discussion.

² See “Fair Value Hedges” in this Note for further discussion.

³ See “Economic Hedging and Trading Activities” in this Note for further discussion.

⁴ Amount includes $518 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.

⁵ Amounts include $12.6 billion and $329 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.

⁶ Asset and liability amounts include $6 million and $9 million of notional amounts from purchased and written credit risk participation agreements, respectively, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.

⁷ Includes $49 million notional amount that is based on the number of VisaClass B shares, 3.2 million, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 16, “Guarantees” for additional information.

	December 31, 2014
	Asset Derivatives					Liability Derivatives
(Dollars in millions)	Notional Amounts		Fair Value			Notional Amounts		Fair Value
Derivative instruments designated in cash flow hedging relationships 1
Interest rate contracts hedging floating rate loans		$18,150		$208			$2,850		$8
Derivative instruments designated in fair value hedging relationships 2
Interest rate contracts hedging fixed rate debt	2,700		30			2,600		1
Interest rate contracts hedging brokered CDs	30		—			—		—
Total	2,730		30			2,600		1
Derivative instruments not designated as hedging instruments 3
Interest rate contracts hedging:
MSRs	5,172		163			8,807		30
LHFS, IRLCs 4	1,840		4			4,923		23
Trading activity 5	61,049		2,405			61,065		2,225
Foreign exchange rate contracts hedging trading activity	2,429		104			2,414		100
Credit contracts hedging:
Loans	—		—			392		5
Trading activity 6	2,282		20			2,452		20
Equity contracts hedging trading activity 5	21,875		2,809			28,128		3,090
Other contracts:
IRLCs and other 7	2,231		25			139		5
Commodities	381		71			374		70
Total	97,259		5,601			108,694		5,568
Total derivative instruments		$118,139		$5,839			$114,144		$5,577
Total gross derivative instruments, before netting				$5,839					$5,577
Less: Legally enforceable master netting agreements			(4,083		)			(4,083		)
Less: Cash collateral received/paid			(449		)			(1,032		)
Total derivative instruments, after netting				$1,307					$462

¹ See “Cash Flow Hedges” in this Note for further discussion.

² See “Fair Value Hedges” in this Note for further discussion.

³ See “Economic Hedging and Trading Activities” in this Note for further discussion.

⁴ Amount includes $791 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.

⁵ Amounts include $10.3 billion and $563 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.

⁶ Asset and liability amounts both include $4 million of notional amounts from purchased and written interest rate swap risk participation agreements, respectively, whose notional is calculated as the notional of the interest rate swap participated adjusted by the relevant RWA conversion factor.

⁷ Includes $49 million notional amount that is based on the number of VisaClass B shares, 3.2 million, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 16, “Guarantees” for additional information.

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Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

	Year Ended December 31, 2015
(Dollars in millions)	Amount of  Pre-tax Gain Recognized in OCI on Derivatives (Effective Portion)		Amount of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)		Classification of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)
Derivative instruments in cash flow hedging relationships:
Interest rate contracts hedging floating rate loans 1		$246		$169	Interest and fees on loans

¹ During the year endedDecember 31, 2015, the Company also reclassified $92 million of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.

	Year Ended December 31, 2015
(Dollars in millions)	Amount of Loss on Derivatives Recognized in Income			Amount of Gain on Related Hedged Items Recognized in Income		Amount of Loss Recognized in Income on Hedges (Ineffective Portion)
Derivative instruments in fair value hedging relationships:
Interest rate contracts hedging fixed rate debt 1		($2	)		$1		($1	)
Interest rate contracts hedging brokered CDs 1	—			—		—
Total		($2	)		$1		($1	)

¹ Amounts are recognized in trading income in the Consolidated Statements of Income.

(Dollars in millions)	Classification of Gain/(Loss) Recognized in Income on Derivatives	Amount of Gain/(Loss) Recognized in Income on Derivatives During the Year Ended December 31, 2015
Derivative instruments not designated as hedging instruments:
Interest rate contracts hedging:
MSRs	Mortgage servicing related income		$19
LHFS, IRLCs	Mortgage production related income	(45		)
LHFI	Other noninterest income	(1		)
Trading activity	Trading income	61
Foreign exchange rate contracts hedging trading activity	Trading income	93
Credit contracts hedging:
Loans	Other noninterest income	(1		)
Trading activity	Trading income	23
Equity contracts hedging trading activity	Trading income	4
Other contracts:
IRLCs	Mortgage production related income	156
Commodities	Trading income	2
Total			$311

	Year Ended December 31, 2014
(Dollars in millions)	Amount of  Pre-tax Gain Recognized in OCI on Derivatives (Effective Portion)		Amount of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)		Classification of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)
Derivative instruments in cash flow hedging relationships:
Interest rate contracts hedging floating rate loans 1		$99		$290	Interest and fees on loans

¹ During the year endedDecember 31, 2014, the Company also reclassified $97 million of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.

	Year Ended December 31, 2014
(Dollars in millions)	Amount of Gain on Derivatives Recognized in Income		Amount of Loss on Related Hedged Items Recognized in Income			Amount of Gain Recognized in Income on Hedges (Ineffective Portion)
Derivative instruments in fair value hedging relationships:
Interest rate contracts hedging fixed rate debt 1		$8		($7	)		$1
Interest rate contracts hedging brokered CDs 1	—		—			—
Total		$8		($7	)		$1

¹ Amounts are recognized in trading income in the Consolidated Statements of Income.

(Dollars in millions)	Classification of Gain/(Loss) Recognized in Income on Derivatives	Amount of Gain/(Loss) Recognized in Income on Derivatives During the Year Ended December 31, 2014
Derivative instruments not designated as hedging instruments:
Interest rate contracts hedging:
MSRs	Mortgage servicing related income		$257
LHFS, IRLCs	Mortgage production related income	(149		)
Trading activity	Trading income	49
Foreign exchange rate contracts hedging trading activity	Trading income	69
Credit contracts hedging:
Loans	Other noninterest income	(1		)
Trading activity	Trading income	17
Equity contracts hedging trading activity	Trading income	4
Other contracts - IRLCs	Mortgage production related income	261
Total			$507

	Year Ended December 31, 2013
(Dollars in millions)	Amount of  Pre-tax (Loss)/Gain Recognized in OCI on Derivatives (Effective Portion)			Amount of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)		Classification of Pre-tax (Loss)/Gain Reclassified from AOCI into Income (Effective Portion)
Derivative instruments in cash flow hedging relationships:
Interest rate contracts hedging forecasted debt		($2	)		$—	Interest on long-term debt
Interest rate contracts hedging floating rate loans 1	18			327		Interest and fees on loans
Total		$16			$327

¹ During the year endedDecember 31, 2013, the Company also reclassified $90 million pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been previously terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.

	Year Ended December 31, 2013
(Dollars in millions)	Amount of Loss on Derivatives Recognized in Income			Amount of Gain on Related Hedged Items Recognized in Income		Amount of Loss Recognized in Income on Hedges (Ineffective Portion)
Derivative instruments in fair value hedging relationships:
Interest rate contracts hedging fixed rate debt 1		($36	)		$33		($3	)

¹ Amounts are recognized in trading income in the Consolidated Statements of Income.

(Dollars in millions)	Classification of (Loss)/Gain Recognized in Income on Derivatives	Amount of (Loss)/Gain Recognized in Income on Derivatives During the Year Ended December 31, 2013
Derivative instruments not designated as hedging instruments:
Interest rate contracts hedging:
MSRs	Mortgage servicing related income		($284	)
LHFS, IRLCs	Mortgage production related income	289
Trading activity	Trading income	61
Foreign exchange rate contracts hedging trading activity	Trading income	24
Credit contracts hedging:
Loans	Other noninterest income	(4		)
Trading activity	Trading income	21
Equity contracts hedging trading activity	Trading income	(15		)
Other contracts - IRLCs	Mortgage production related income	98
Total			$190

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Netting of financial instruments - derivatives [Table Text Block]

(Dollars in millions)	Gross Amount		Amount Offset		Net Amount Presented in Consolidated Balance Sheets			Held/Pledged Financial Instruments		Net Amount
December 31, 2015
Derivative instrument assets:
Derivatives subject to master netting arrangement or similar arrangement		$4,184		$3,156		$1,028			$66		$962
Derivatives not subject to master netting arrangement or similar arrangement	21		—		21			—		21
Exchange traded derivatives	260		157		103			—		103
Total derivative instrument assets		$4,465		$3,313		$1,152	1		$66		$1,086
Derivative instrument liabilities:
Derivatives subject to master netting arrangement or similar arrangement		$4,162		$3,807		$355			$19		$336
Derivatives not subject to master netting arrangement or similar arrangement	105		—		105			—		105
Exchange traded derivatives	161		157		4			—		4
Total derivative instrument liabilities		$4,428		$3,964		$464	2		$19		$445
December 31, 2014
Derivative instrument assets:
Derivatives subject to master netting arrangement or similar arrangement		$5,127		$4,095		$1,032			$63		$969
Derivatives not subject to master netting arrangement or similar arrangement	25		—		25			—		25
Exchange traded derivatives	687		437		250			—		250
Total derivative instrument assets		$5,839		$4,532		$1,307	1		$63		$1,244
Derivative instrument liabilities:
Derivatives subject to master netting arrangement or similar arrangement		$5,001		$4,678		$323			$12		$311
Derivatives not subject to master netting arrangement or similar arrangement	133		—		133			—		133
Exchange traded derivatives	443		437		6			—		6
Total derivative instrument liabilities		$5,577		$5,115		$462	2		$12		$450

¹ At December 31, 2015, $1.2 billion, net of $397 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $1.3 billion, net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets.

² At December 31, 2015, $464 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $462 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.

[1] Amounts are recognized in trading income in the Consolidated Statements of Income.

[2] During the year ended December 31, 2014, the Company also reclassified $97 million of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.