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Securities Available for Sale (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Securities Portfolio Composition Securities Portfolio Composition
 
December 31, 2018
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$4,277

 

$—

 

$66

 

$4,211

Federal agency securities
221

 
2

 
2

 
221

U.S. states and political subdivisions
606

 
4

 
21

 
589

MBS - agency residential
23,161

 
128

 
425

 
22,864

MBS - agency commercial
2,688

 
8

 
69

 
2,627

MBS - non-agency commercial
943

 
—

 
27

 
916

Corporate and other debt securities
14

 
—

 
—

 
14

Total securities AFS

$31,910

 

$142

 

$610

 

$31,442

 
 
 
 
 
 
 
 
 
 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 AFS to Other assets on the Consolidated Balance Sheets. Prior periods have been revised to conform to the current presentation for comparability. See Note 11, "Other Assets," for additional information.
Investment Income [Table Text Block] The following table presents interest on securities AFS:
 
Year Ended December 31
(Dollars in millions)
2018
 
2017
 
2016
Taxable interest

$830

 

$743

 

$630

Tax-exempt interest
19

 
13

 
6

Total interest on securities AFS 1

$849

 

$756

 

$636


1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities AFS 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 December 31, 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

$315

 

$2,646

 

$1,316

 

$—

 

$4,277

Federal agency securities
112

 
29

 
8

 
72

 
221

U.S. states and political subdivisions
2

 
81

 
15

 
508

 
606

MBS - agency residential
1,558

 
3,684

 
15,962

 
1,957

 
23,161

MBS - agency commercial
1

 
495

 
1,885

 
307

 
2,688

MBS - non-agency commercial
—

 
12

 
931

 
—

 
943

Corporate and other debt securities
—

 
14

 
—

 
—

 
14

Total securities AFS

$1,988

 

$6,961

 

$20,117

 

$2,844

 

$31,910

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

$312

 

$2,603

 

$1,296

 

$—

 

$4,211

Federal agency securities
113

 
29

 
8

 
71

 
221

U.S. states and political subdivisions
2

 
84

 
16

 
487

 
589

MBS - agency residential
1,607

 
3,655

 
15,682

 
1,920

 
22,864

MBS - agency commercial
1

 
483

 
1,845

 
298

 
2,627

MBS - non-agency commercial
—

 
12

 
904

 
—

 
916

Corporate and other debt securities
—

 
14

 
—

 
—

 
14

Total securities AFS

$2,035

 

$6,880

 

$19,751

 

$2,776

 

$31,442

 Weighted average yield 1
3.05
%
 
2.25
%
 
2.98
%
 
3.11
%
 
2.84
%
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:
 
December 31, 2018
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$—

 

$4,177

 

$66

 

$4,177

 

$66

Federal agency securities
—

 
—

 
63

 
2

 
63

 
2

U.S. states and political subdivisions
49

 
1

 
430

 
20

 
479

 
21

MBS - agency residential
1,229

 
5

 
15,384

 
420

 
16,613

 
425

MBS - agency commercial
68

 
—

 
1,986

 
69

 
2,054

 
69

MBS - non-agency commercial
106

 
1

 
773

 
26

 
879

 
27

Corporate and other debt securities
—

 
—

 
9

 
—

 
9

 
—

Total temporarily impaired securities AFS
1,452

 
7


22,822


603


24,274


610

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
Total OTTI securities AFS
—

 
—

 
—

 
—

 
—

 
—

Total impaired securities AFS

$1,452

 

$7

 

$22,822

 

$603

 

$24,274

 

$610

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 2
Losses
 
Fair
Value
 
 Unrealized 2
Losses
 
Fair
Value
 
 Unrealized 2
Losses
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 AFS to Other assets on the Consolidated Balance Sheets. Prior periods have been revised to conform to the current presentation 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.
 
Year Ended December 31
(Dollars in millions)
2018
 
2017
 
2016
Gross realized gains

$9

 

$3

 

$4

Gross realized losses
(8
)
 
(110
)
 
—

OTTI credit losses recognized in earnings
—

 
(1
)
 
—

Net securities gains/(losses)

$1

 

($108
)
 

$4