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Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2013

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible assets consisted of the following:



	March 31, 2013		December 31, 2012
	(in millions)
Mortgage servicing rights	$	202	$	179
Purchased credit card relationships	58		60
Other	7		8
Total other intangible assets	$	267	$	247

Fair Value of Residential MSRs

Fair value of residential MSRs is calculated using the following critical assumptions:



	March 31, 2013		December 31, 2012
Annualized constant prepayment rate (“CPR”)	18.2	%	22.4	%
Constant discount rate	12.5	%	11.3	%
Weighted average life	3.8		3.4

Residential MSRs Activity

Residential MSRs activity is summarized in the following table:



Three Months Ended March 31,	2013			2012
	(in millions)
Fair value of MSRs:
Beginning balance	$	168		$	220
Additions related to loan sales	6			8
Changes in fair value due to:
Change in valuation inputs or assumptions used in the valuation models	26			16
Realization of cash flows	(10		)	(16		)
Ending balance	$	190		$	228

Residential Mortgage Loans Serviced for Others

Information regarding residential mortgage loans serviced for others, which are not included in the consolidated balance sheet, is summarized in the following table:



	March 31, 2013		December 31, 2012
	(in millions)
Outstanding principal balances at period end	$	31,039	$	32,041
Custodial balances maintained and included in noninterest bearing deposits at period end	$	722	$	810

- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

+ References+ Details