Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following:

	September 30, 2013		December 31, 2012
	(in millions)
Mortgage servicing rights:
Residential	$	224	$	168
Commercial	11		11
Total mortgage servicing rights	$	235	$	179
Purchased credit card relationships	55		60
Favorable lease agreements	5		8
Total intangible assets	$	295	$	247

Fair Value of Residential MSRs

The following table summarizes the critical assumptions used to calculate the fair value of residential MSRs:

	September 30, 2013		December 31, 2012
Annualized constant prepayment rate (“CPR”)	12.5	%	22.4	%
Constant discount rate	12.8	%	11.3	%
Weighted average life	5.0		3.4

Residential MSRs Activity

The following table summarizes residential MSRs activity:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
	(in millions)
Fair value of MSRs:
Beginning balance	$	225		$	187		$	168		$	220
Additions related to loan sales	3			6			14			20
Changes in fair value due to:
Change in valuation model inputs or assumptions	4			(5		)	73			(20		)
Customer payments	(8		)	(15		)	(31		)	(47		)
Ending balance	$	224		$	173		$	224		$	173

Residential Mortgage Loans Serviced for Others

The following table summarizes information regarding residential mortgage loans serviced for others, which are not included in the consolidated balance sheet:

	September 30, 2013		December 31, 2012
	(in millions)
Outstanding principal balances at period end	$	28,211	$	32,041
Custodial balances maintained and included in noninterest bearing deposits at period end	$	—	$	810