Securities Available for Sale (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investment Securities Portfolio Composition



	March 31, 2019
(Dollars in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Securities AFS:
U.S. Treasury securities		$4,279		$4		$24		$4,259
Federal agency securities	143		1		2		142
U.S. states and political subdivisions	594		6		7		593
MBS - agency residential	23,149		207		146		23,210
MBS - agency commercial	2,641		20		37		2,624
MBS - non-agency commercial	1,009		7		4		1,012
Corporate and other debt securities	13		—		—		13
Total securities AFS		$31,828		$245		$220		$31,853

	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

Investment Income [Table Text Block]

The following table presents interest on securities AFS:



	Three Months Ended March 31
(Dollars in millions)	2019		2018
Taxable interest		$217		$201
Tax-exempt interest	4		5
Total interest on securities AFS		$221		$206

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 March 31, 2019, 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		$649			$2,312			$1,318			$—			$4,279
Federal agency securities	39			33			4			67			143
U.S. states and political subdivisions	1			91			44			458			594
MBS - agency residential	1,494			3,800			17,081			774			23,149
MBS - agency commercial	—			646			1,672			323			2,641
MBS - non-agency commercial	—			12			976			21			1,009
Corporate and other debt securities	—			13			—			—			13
Total securities AFS		$2,183			$6,907			$21,095			$1,643			$31,828
Fair Value:
Securities AFS:
U.S. Treasury securities		$645			$2,295			$1,319			$—			$4,259
Federal agency securities	39			33			4			66			142
U.S. states and political subdivisions	1			95			45			452			593
MBS - agency residential	1,544			3,809			17,086			771			23,210
MBS - agency commercial	—			639			1,669			316			2,624
MBS - non-agency commercial	—			12			979			21			1,012
Corporate and other debt securities	—			13			—			—			13
Total securities AFS		$2,229			$6,896			$21,102			$1,626			$31,853
Weighted average yield ¹	2.78		%	2.36		%	3.01		%	3.08		%	2.86		%

¹Weighted average yields are based on amortized cost and presented on an FTE basis.

Securities in a Continuous Unrealized Loss Position

Investment securities in an unrealized loss position at period end are presented in the following tables:



	March 31, 2019
	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		$—		$—		$2,646		$24		$2,646		$24
Federal agency securities	5		—		61		2		66		2
U.S. states and political subdivisions	—		—		433		7		433		7
MBS - agency residential	1		—		13,125		146		13,126		146
MBS - agency commercial	19		—		1,723		37		1,742		37
MBS - non-agency commercial	21		—		370		4		391		4
Corporate and other debt securities	—		—		7		—		7		—
Total temporarily impaired securities AFS	46		—		18,365		220		18,411		220
OTTI securities AFS ²:
Total OTTI securities AFS	—		—		—		—		—		—
Total impaired securities AFS		$46		$—		$18,365		$220		$18,411		$220

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, 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

¹Unrealized 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.