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Securities Available for Sale (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Securities Portfolio Composition
Securities Portfolio Composition
 
September 30, 2018
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$4,275

 

$—

 

$142

 

$4,133

Federal agency securities
224

 
2

 
3

 
223

U.S. states and political subdivisions
621

 
3

 
22

 
602

MBS - agency residential
23,112

 
111

 
718

 
22,505

MBS - agency commercial
2,713

 
1

 
112

 
2,602

MBS - non-agency commercial
943

 
—

 
38

 
905

Corporate and other debt securities
14

 
—

 
—

 
14

Total securities AFS

$31,902

 

$117

 

$1,035

 

$30,984

 
 
 
 
 
 
 
 
 
 December 31, 2017 1
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$4,361

 

$2

 

$32

 

$4,331

Federal agency securities
257

 
3

 
1

 
259

U.S. states and political subdivisions
618

 
7

 
8

 
617

MBS - agency residential
22,616

 
222

 
134

 
22,704

MBS - agency commercial
2,121

 
3

 
38

 
2,086

MBS - non-agency residential
55

 
4

 
—

 
59

MBS - non-agency commercial
862

 
7

 
3

 
866

ABS
6

 
2

 
—

 
8

Corporate and other debt securities
17

 
—

 
—

 
17

Total securities AFS

$30,913

 

$250

 

$216

 

$30,947

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
Investment Income [Table Text Block]
The following table presents interest on securities AFS:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2018
 
2017
 
2018
 
2017
Taxable interest

$207

 

$187

 

$614

 

$551

Tax-exempt interest
5

 
4

 
14

 
9

Total interest on securities AFS 1

$212

 

$191

 

$628

 

$560


1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life
The following table presents the amortized cost, fair value, and weighted average yield of the Company's investment securities at September 30, 2018, by remaining contractual maturity, with the exception of MBS, which are based on estimated average life. Receipt of cash flows may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.
 
Distribution of Remaining Maturities
(Dollars in millions)
Due in 1 Year or Less
 
Due After 1 Year through 5 Years
 
Due After 5 Years through 10 Years
 
Due After 10 Years
 
Total
Amortized Cost:
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$15

 

$2,695

 

$1,565

 

$—

 

$4,275

Federal agency securities
113

 
28

 
8

 
75

 
224

U.S. states and political subdivisions
3

 
72

 
25

 
521

 
621

MBS - agency residential
1,619

 
6,488

 
14,736

 
269

 
23,112

MBS - agency commercial
1

 
467

 
1,937

 
308

 
2,713

MBS - non-agency commercial
—

 
12

 
931

 
—

 
943

Corporate and other debt securities
—

 
14

 
—

 
—

 
14

Total securities AFS

$1,751

 

$9,776

 

$19,202

 

$1,173

 

$31,902

Fair Value:
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$15

 

$2,615

 

$1,503

 

$—

 

$4,133

Federal agency securities
114

 
28

 
8

 
73

 
223

U.S. states and political subdivisions
3

 
75

 
25

 
499

 
602

MBS - agency residential
1,674

 
6,341

 
14,230

 
260

 
22,505

MBS - agency commercial
1

 
448

 
1,859

 
294

 
2,602

MBS - non-agency commercial
—

 
12

 
893

 
—

 
905

Corporate and other debt securities
—

 
14

 
—

 
—

 
14

Total securities AFS

$1,807

 

$9,533

 

$18,518

 

$1,126

 

$30,984

 Weighted average yield 1
3.22
%
 
2.38
%
 
2.94
%
 
3.12
%
 
2.79
%
1 Weighted average yields are based on amortized cost and presented on an FTE basis.
Securities in a Continuous Unrealized Loss Position
ecurities in an unrealized loss position at period end are presented in the following tables:
 
September 30, 2018
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
Unrealized
Losses 1
 
Fair
Value
 
Unrealized
Losses 1
 
Fair
Value
 
Unrealized
Losses 1
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$2,554

 

$77

 

$1,579

 

$65

 

$4,133

 

$142

Federal agency securities
16

 
—

 
62

 
3

 
78

 
3

U.S. states and political subdivisions
210

 
7

 
280

 
15

 
490

 
22

MBS - agency residential
10,347

 
276

 
8,772

 
442

 
19,119

 
718

MBS - agency commercial
1,029

 
25

 
1,519

 
87

 
2,548

 
112

MBS - non-agency commercial
781

 
30

 
124

 
8

 
905

 
38

Corporate and other debt securities
—

 
—

 
9

 
—

 
9

 
—

Total temporarily impaired securities AFS
14,937

 
415


12,345


620


27,282


1,035

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
Total OTTI securities AFS
—

 
—

 
—

 
—

 
—

 
—

Total impaired securities AFS

$14,937

 

$415

 

$12,345

 

$620

 

$27,282

 

$1,035

1 Unrealized losses less than $0.5 million are presented as zero within the table.
2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.

 
December 31, 2017 1
 
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 AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$1,993

 

$12

 

$841

 

$20

 

$2,834

 

$32

Federal agency securities
23

 
—

 
60

 
1

 
83

 
1

U.S. states and political subdivisions
267

 
3

 
114

 
5

 
381

 
8

MBS - agency residential
8,095

 
38

 
4,708

 
96

 
12,803

 
134

MBS - agency commercial
887

 
9

 
915

 
29

 
1,802

 
38

MBS - non-agency commercial
134

 
1

 
93

 
2

 
227

 
3

ABS
—

 
—

 
4

 
—

 
4

 
—

Corporate and other debt securities
10

 
—

 
—

 
—

 
10

 
—

Total temporarily impaired securities AFS
11,409

 
63

 
6,735

 
153

 
18,144

 
216

OTTI securities AFS 3:
 
 
 
 
 
 
 
 
 
 
 
ABS
—

 
—

 
1

 
—

 
1

 
—

Total OTTI securities AFS
—

 
—

 
1

 
—

 
1

 
—

Total impaired securities AFS

$11,409

 

$63

 

$6,736

 

$153

 

$18,145

 

$216

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
2 Unrealized losses less than $0.5 million are presented as zero within the table.
3 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.
Realized Gain (Loss) on Investments [Table Text Block]
Net securities gains or losses are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2018
 
2017
 
2018
 
2017
Gross realized gains

$—

 

$1

 

$7

 

$2

Gross realized losses
—

 
(1
)
 
(6
)
 
(1
)
OTTI credit losses recognized in earnings
—

 
—

 
—

 
—

Net securities gains

$—

 

$—

 

$1

 

$1