Fair Value Election and Measurement (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected.

	December 31, 2018
	Fair Value Measurements
(Dollars in millions)	Level 1		Level 2		Level 3		Netting  Adjustments 1			Assets/Liabilities at Fair Value
Assets
Trading assets and derivative instruments:
U.S. Treasury securities		$262		$—		$—		$—			$262
Federal agency securities	—		188		—		—			188
U.S. states and political subdivisions	—		54		—		—			54
MBS - agency	—		860		—		—			860
Corporate and other debt securities	—		700		—		—			700
CP	—		190		—		—			190
Equity securities	73		—		—		—			73
Derivative instruments	186		2,425		20		(1,992		)	639
Trading loans	—		2,540		—		—			2,540
Total trading assets and derivative instruments	521		6,957		20		(1,992		)	5,506
Securities AFS:
U.S. Treasury securities	4,211		—		—		—			4,211
Federal agency securities	—		221		—		—			221
U.S. states and political subdivisions	—		589		—		—			589
MBS - agency residential	—		22,864		—		—			22,864
MBS - agency commercial	—		2,627		—		—			2,627
MBS - non-agency commercial	—		916		—		—			916
Corporate and other debt securities	—		14		—		—			14
Total securities AFS 2	4,211		27,231		—		—			31,442
LHFS	—		1,178		—		—			1,178
LHFI	—		—		163		—			163
Residential MSRs	—		—		1,983		—			1,983
Other assets 2	95		—		—		—			95
Liabilities
Trading liabilities and derivative instruments:
U.S. Treasury securities	801		—		—		—			801
MBS - agency	—		3		—		—			3
Corporate and other debt securities	—		385		—		—			385
Equity securities	5		—		—		—			5
Derivative instruments	119		2,590		7		(2,306		)	410
Total trading liabilities and derivative instruments	925		2,978		7		(2,306		)	1,604
Brokered time deposits	—		403		—		—			403
Long-term debt	—		289		—		—			289

¹ Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 19, “Derivative Financial Instruments,” for additional information.

² 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.

	December 31, 2017
	Fair Value Measurements
(Dollars in millions)	Level 1		Level 2		Level 3		Netting  Adjustments 1			Assets/Liabilities at Fair Value
Assets
Trading assets and derivative instruments:
U.S. Treasury securities		$157		$—		$—		$—			$157
Federal agency securities	—		395		—		—			395
U.S. states and political subdivisions	—		61		—		—			61
MBS - agency	—		700		—		—			700
Corporate and other debt securities	—		655		—		—			655
CP	—		118		—		—			118
Equity securities	56		—		—		—			56
Derivative instruments	395		3,493		16		(3,102		)	802
Trading loans	—		2,149		—		—			2,149
Total trading assets and derivative instruments	608		7,571		16		(3,102		)	5,093
Securities AFS:
U.S. Treasury securities	4,331		—		—		—			4,331
Federal agency securities	—		259		—		—			259
U.S. states and political subdivisions	—		617		—		—			617
MBS - agency residential	—		22,704		—		—			22,704
MBS - agency commercial	—		2,086		—		—			2,086
MBS - non-agency residential	—		—		59		—			59
MBS - non-agency commercial	—		866		—		—			866
ABS	—		—		8		—			8
Corporate and other debt securities	—		12		5		—			17
Total securities AFS 2	4,331		26,544		72		—			30,947
LHFS	—		1,577		—		—			1,577
LHFI	—		—		196		—			196
Residential MSRs	—		—		1,710		—			1,710
Other assets 2	56		—		—		—			56
Liabilities
Trading liabilities and derivative instruments:
U.S. Treasury securities	577		—		—		—			577
Corporate and other debt securities	—		289		—		—			289
Equity securities	9		—		—		—			9
Derivative instruments	183		4,243		16		(4,034		)	408
Total trading liabilities and derivative instruments	769		4,532		16		(4,034		)	1,283
Brokered time deposits	—		236		—		—			236
Long-term debt	—		530		—		—			530

¹ Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 19, “Derivative Financial Instruments,” for additional information.

² 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.

Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance

The following tables present the difference between fair value and the aggregate UPB for which the FVO has been elected for certain trading loans, LHFS, LHFI, brokered time deposits, and long-term debt instruments.

(Dollars in millions)	Fair Value at December 31, 2018		Aggregate UPB at December 31, 2018		Fair Value Over/(Under) Unpaid Principal
Assets:
Trading loans		$2,540		$2,526		$14
LHFS:
Accruing	1,178		1,128		50
LHFI:
Accruing	158		163		(5		)
Nonaccrual	5		6		(1		)
Liabilities:
Brokered time deposits	403		403		—
Long-term debt	289		286		3
(Dollars in millions)	Fair Value at December 31, 2017		Aggregate UPB at December 31, 2017		Fair Value Over/(Under) Unpaid Principal
Assets:
Trading loans		$2,149		$2,111		$38
LHFS:
Accruing	1,576		1,533		43
Past due 90 days or more	1		1		—
LHFI:
Accruing	192		198		(6		)
Nonaccrual	4		6		(2		)
Liabilities:
Brokered time deposits	236		233		3
Long-term debt	530		517		13

Fair Value Gains/(Losses) for Items Measured at Fair Value Option [Table Text Block]

	Fair Value Gain/(Loss) for the Year Ended December 31, 2018 for Items Measured at Fair Value Pursuant to Election of the FVO
(Dollars in millions)	Trading Income		Mortgage Related Income 1			Other Noninterest Income		Total Changes in Fair Values Included in  Earnings 2
Assets:
Trading loans		$14		$—			$—		$14
LHFS	—		7			—		7
LHFI	—		—			1		1
Residential MSRs	—		(141		)	—		(141		)
Liabilities:
Brokered time deposits	13		—			—		13
Long-term debt	10		—			—		10

¹ Income related to LHFS does not include income from IRLCs. For the year ended December 31, 2018, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.

² Changes in fair value for the year ended December 31, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.

	Fair Value Gain/(Loss) for the Year Ended December 31, 2017 for Items Measured at Fair Value Pursuant to Election of the FVO
(Dollars in millions)	Trading Income		Mortgage Related Income 1			Other Noninterest Income		Total Changes in Fair Values Included in Earnings 2
Assets:
Trading loans		$21		$—			$—		$21
LHFS	—		61			—		61
Residential MSRs	—		(243		)	—		(243		)
Liabilities:
Long-term debt	21		—			—		21

¹ Income related to LHFS does not include income from IRLCs. For the year ended December 31, 2017, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.

² Changes in fair value for the year ended December 31, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.

	Fair Value Gain/(Loss) for the Year Ended December 31, 2016 for Items Measured at Fair Value Pursuant to Election of the FVO
(Dollars in millions)	Trading Income		Mortgage Related Income 1			Other Noninterest Income		Total Changes in Fair Values Included in Earnings 2
Assets:
Trading loans		$15		$—			$—		$15
LHFS	—		75			—		75
Residential MSRs	—		(242		)	—		(242		)
Liabilities:
Brokered time deposits	4		—			—		4
Long-term debt	27		—			—		27

¹ Income related to LHFS does not include income from IRLCs. For the year ended December 31, 2016, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.

² Changes in fair value for the year ended December 31, 2016 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.

Fair Value Level 3 Significant Unobservable Input Assumptions [Table Text Block]

The valuation technique and range, including weighted average, of the unobservable inputs associated with the Company's level 3 assets and liabilities are as follows:

	Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)	Fair value December 31, 2018		Valuation Technique	Unobservable Input	Range  (Weighted Average) 1
Assets
Trading assets and derivative instruments:
Derivative instruments, net 2		$13	Internal model	Pull through rate	41-100% (81%)
				MSR value	11-165 bps (108 bps)
LHFI	158		Monte Carlo/Discounted cash flow	Option adjusted spread	0-250 bps (164 bps)
				Conditional prepayment rate	7-22 CPR (12 CPR)
				Conditional default rate	0-1 CDR (0.6 CDR)
	5		Collateral based pricing	Appraised value	NM 3
Residential MSRs	1,983		Monte Carlo/Discounted cash flow	Conditional prepayment rate	6-30 CPR (13 CPR)
				Option adjusted spread	0-116% (2%)

¹ Unobservable inputs were weighted by the relative fair value of the financial instruments.

² Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in this Note for a discussion of valuation assumptions related to the Visa derivative liability.

³ Not meaningful.

	Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)	Fair value December 31, 2017		Valuation Technique	Unobservable Input 1	Range (Weighted Average) 2
Assets
Trading assets and derivative instruments:
Derivative instruments, net 3		$—	Internal model	Pull through rate	41-100% (81%)
				MSR value	41-190 bps (113 bps)
Securities AFS:
MBS - non-agency residential	59		Third party pricing	N/A
ABS	8		Third party pricing	N/A
Corporate and other debt securities	5		Cost	N/A
LHFI	192		Monte Carlo/Discounted cash flow	Option adjusted spread	62-784 bps (215 bps)
				Conditional prepayment rate	2-34 CPR (11 CPR)
				Conditional default rate	0-5 CDR (0.7 CDR)
	4		Collateral based pricing	Appraised value	NM 4
Residential MSRs	1,710		Monte Carlo/Discounted cash flow	Conditional prepayment rate	6-30 CPR (13 CPR)
				Option adjusted spread	1-125% (4%)

¹ For certain assets and liabilities where the Company utilizes third party pricing, the unobservable inputs and their ranges are not reasonably available, and therefore, have been noted as not applicable (“N/A”).

² Unobservable inputs were weighted by the relative fair value of the financial instruments.

³ Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in this Note for a discussion of valuation assumptions related to the Visa derivative liability.

⁴ Not meaningful.

Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs

	Fair Value Measurements Using Significant Unobservable Inputs
(Dollars in millions)	Beginning Balance January 1, 2018		Included in Earnings			OCI		Purchases		Sales		Settlements			Transfers to/from Other Balance Sheet Line Items			Transfers into Level 3		Transfers out of Level 3			Fair Value December 31, 2018
Assets
Trading assets:
Derivative instruments, net		$—		$65	1		$—		$—		$—		$11			($63	)		$—		$—			$13
Securities AFS:
MBS - non-agency residential	59		—			—		—		—		(2		)	—			—		(57		)	—
ABS	8		—			—		—		—		(1		)	—			—		(7		)	—
Corporate and other debt securities	5		—			—		—		—		—			—			—		(5		)	—
Total securities AFS	72		—			—		—		—		(3		)	—			—		(69		)	—
LHFI	196		1		2	—		—		—		(36		)	—			2		—			163

¹ Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage related income, amount related to commercial IRLCs is recognized in Commercial real estate related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $18 million in earnings during the year ended December 31, 2018, related to changes in unrealized gains on net derivative instruments still held at December 31, 2018.

² Amounts are generally included in Mortgage related income; however, the mark on certain fair value loans is included in Other noninterest income. Included less than $1 million in earnings during the year ended December 31, 2018, related to changes in unrealized losses on LHFI still held at December 31, 2018.

	Fair Value Measurements Using Significant Unobservable Inputs
(Dollars in millions)	Beginning Balance January 1, 2017		Included in Earnings				OCI			Purchases		Sales			Settlements			Transfers to/from Other Balance Sheet Line Items			Transfers into Level 3		Transfers out of Level 3			Fair Value December 31, 2017
Assets
Trading assets:
Derivative instruments, net		$6		$185		1		$—			$—		$—			$—			($191	)		$—		$—			$—
Securities AFS:
U.S. states and political subdivisions	4		—				—			—		—			(4		)	—			—		—			—
MBS - non-agency residential	74		(1		)	2	1		3	—		—			(15		)	—			—		—			59
ABS	10		—				1		3	—		—			(3		)	—			—		—			8
Corporate and other debt securities	5		—				—			—		—			—			—			—		—			5
Total securities AFS	93		(1		)	2	2		3	—		—			(22		)	—			—		—			72
Residential LHFS	12		—				—			—		(25		)	(1		)	(4		)	26		(8		)	—
LHFI	222		—			4	—			—		—			(34		)	3			5		—			196

¹ Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage related income, amount related to commercial IRLCs is recognized in Commercial real estate related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $12 million in earnings during the year ended December 31, 2017, related to changes in unrealized gains on net derivative instruments still held at December 31, 2017.

² Included $1 million in earnings during year ended December 31, 2017, related to changes in unrealized losses on securities AFS still held at December 31, 2017.

³ Amounts recognized in OCI are included in change in net unrealized gains on securities AFS, net of tax.

⁴ Amounts are generally included in Mortgage related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $1 million in earnings during the year ended December 31, 2017, related to changes in unrealized losses on LHFI still held at December 31, 2017.

Change in Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis

			Fair Value Measurements						(Losses)/Gains for the Year Ended December 31, 2018
(Dollars in millions)	December 31, 2018		Level 1		Level 2		Level 3
LHFS		$47		$—		$47		$—		($1	)
LHFI	63		—		—		63		—
OREO	19		—		—		19		(4		)
Other assets	67		—		47		20		24
			Fair Value Measurements						Losses for the Year Ended December 31, 2017
(Dollars in millions)	December 31, 2017		Level 1		Level 2		Level 3
LHFS		$13		$—		$13		$—		$—
LHFI	49		—		—		49		—
OREO	24		—		1		23		(4		)
Other assets	53		—		4		49		(43		)

Carrying Amounts and Fair Values of the Company's Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments are as follows:

		December 31, 2018				Fair Value Measurements
(Dollars in millions)	Measurement Category	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	Amortized cost		$7,495		$7,495		$7,495		$—		$—
Trading assets and derivative instruments	Fair value	5,506		5,506		521		4,965		20
Securities AFS	Fair value	31,442		31,442		4,211		27,231		—
LHFS	Amortized cost	290		291		—		261		30
	Fair value	1,178		1,178		—		1,178		—
LHFI, net	Amortized cost	150,061		148,167		—		—		148,167
	Fair value	163		163		—		—		163
Other 1	Amortized cost	630		630		—		—		630
	Fair value	95		95		95		—		—
Financial liabilities:
Consumer and other time deposits	Amortized cost	15,355		15,106		—		15,106		—
Brokered time deposits	Amortized cost	642		615		—		615		—
	Fair value	403		403		—		403		—
Short-term borrowings	Amortized cost	8,772		8,772		—		8,772		—
Long-term debt	Amortized cost	14,783		14,729		—		13,024		1,705
	Fair value	289		289		—		289		—
Trading liabilities and derivative instruments	Fair value	1,604		1,604		925		672		7

¹ Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values.

		December 31, 2017				Fair Value Measurements
(Dollars in millions)	Measurement Category	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	Amortized cost		$6,912		$6,912		$6,912		$—		$—
Trading assets and derivative instruments	Fair value	5,093		5,093		608		4,469		16
Securities AFS	Fair value	30,947		30,947		4,331		26,544		72
LHFS	Amortized cost	713		716		—		662		54
	Fair value	1,577		1,577		—		1,577		—
LHFI, net	Amortized cost	141,250		141,379		—		—		141,379
	Fair value	196		196		—		—		196
Other 1	Amortized cost	418		418		—		—		418
	Fair value	56		56		56		—		—
Financial liabilities:
Consumer and other time deposits	Amortized cost	12,076		11,906		—		11,906		—
Brokered time deposits	Amortized cost	749		725		—		725		—
	Fair value	236		236		—		236		—
Short-term borrowings	Amortized cost	4,781		4,781		—		4,781		—
Long-term debt	Amortized cost	9,255		9,362		—		8,304		1,058
	Fair value	530		530		—		530		—
Trading liabilities and derivative instruments	Fair value	1,283		1,283		769		498		16

¹ Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values.