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Securities (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Value of the Securities Available-for-Sale and Held-to-Maturity
Our securities available-for-sale and securities held-to-maturity portfolios consisted of the following:
September 30, 2020Amortized
Cost
Allowance for Credit Losses(1)
Unrealized
Gains		Unrealized
Losses		Fair
Value
 (in millions)
Securities available-for-sale:
U.S. Treasury$16,729 $— $688 $(65)$17,352 
U.S. Government sponsored enterprises:
Mortgage-backed securities5,318 — 292 (1)5,609 
Collateralized mortgage obligations1,014 — 16 (8)1,022 
Direct agency obligations1,376 — 15 — 1,391 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities8,143 — 175 (2)8,316 
Collateralized mortgage obligations2,318 — 31 (5)2,344 
Direct agency obligations305 — 3 (1)307 
Asset-backed securities collateralized by:
Home equity29 (2)— — 27 
Other115 — — (15)100 
Foreign debt securities(2)
4,854 — 6 — 4,860 
Total available-for-sale securities$40,201 $(2)$1,226 $(97)$41,328 
Securities held-to-maturity:
U.S. Government sponsored enterprises:
Mortgage-backed securities$1,293 $— $49 $— $1,342 
Collateralized mortgage obligations902 — 59 (1)960 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities2,267 — 71 — 2,338 
Collateralized mortgage obligations5,752 — 240 — 5,992 
Obligations of U.S. states and political subdivisions10 (1)1 — 10 
Asset-backed securities collateralized by residential mortgages2 (1)1 — 2 
Total held-to-maturity securities$10,226 $(2)$421 $(1)$10,644 
December 31, 2019Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
 (in millions)
Securities available-for-sale:
U.S. Treasury$16,219 $128 $(269)$16,078 
U.S. Government sponsored enterprises:
Mortgage-backed securities3,358 57 (13)3,402 
Collateralized mortgage obligations345 3 (1)347 
Direct agency obligations1,382 21 — 1,403 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities10,009 29 (41)9,997 
Collateralized mortgage obligations741 10 (4)747 
Direct agency obligations254 6 — 260 
Asset-backed securities collateralized by:
Home equity34 — (2)32 
Other108 3 — 111 
Foreign debt securities(2)
3,282 4 — 3,286 
Total available-for-sale securities$35,732 $261 $(330)$35,663 
Securities held-to-maturity:
U.S. Government sponsored enterprises:
Mortgage-backed securities$1,632 $22 $(1)$1,653 
Collateralized mortgage obligations1,418 40 (4)1,454 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities3,004 17 — 3,021 
Collateralized mortgage obligations7,227 85 (22)7,290 
Obligations of U.S. states and political subdivisions10 1 — 11 
Asset-backed securities collateralized by residential mortgages2 — — 2 
Total held-to-maturity securities$13,293 $165 $(27)$13,431 
(1)As discussed in Note 21, "New Accounting Pronouncements," beginning January 1, 2020, an allowance for credit losses is recognized for debt securities while, prior to January 1, 2020, debt securities were assessed for other-than-temporary impairment. At December 31, 2019, we did not consider any of our debt securities to be other-than-temporarily impaired.
(2)Foreign debt securities represent public sector entity, bank or corporate debt.
Gross Unrealized Losses and Related Fair Value The following table summarizes gross unrealized losses and related fair values for securities available-for-sale by major security type at September 30, 2020 classified as to the length of time the losses have existed:
 One Year or LessGreater Than One Year
September 30, 2020Number
of
Securities		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment		Number
of
Securities		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment
 (dollars are in millions)
Securities available-for-sale:
U.S. Treasury— $— $— 17 $(65)$1,837 
U.S. Government sponsored enterprises12 (8)1,031 10 (1)48 
U.S. Government agency issued or guaranteed
19 (8)1,854 2 — 7 
Asset-backed securities3 (15)100 2 — — 
Foreign debt securities9 — 1,550 5 — 241 
Securities available-for-sale43 $(31)$4,535 36 $(66)$2,133 
The following table summarizes gross unrealized losses and related fair values at December 31, 2019 classified as to the length of time the losses have existed:
 One Year or LessGreater Than One Year
December 31, 2019Number
of
Securities		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment		Number
of
Securities		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment
 (dollars are in millions)
Securities available-for-sale:
U.S. Treasury22 $(61)$4,034 28 $(208)$4,962 
U.S. Government sponsored enterprises18 (8)772 83 (6)672 
U.S. Government agency issued or guaranteed
27 (4)1,961 50 (41)2,508 
Asset-backed securities— — — 5 (2)33 
Foreign debt securities11 — 1,238 5 — 292 
Securities available-for-sale78 $(73)$8,005 171 $(257)$8,467 
Securities held-to-maturity:
U.S. Government sponsored enterprises15 $— $63 76 $(5)$522 
U.S. Government agency issued or guaranteed
46 (3)887 274 (19)1,705 
Obligations of U.S. states and political subdivisions
1 — — 1 — — 
Securities held-to-maturity62 $(3)$950 351 $(24)$2,227 
Credit risk Profile of Held-to-Maturity Securities The following table shows the credit risk profile of our securities held-to-maturity portfolio:
At September 30, 2020Investment GradeNon-Investment GradeTotal
 (in millions)
U.S. Government sponsored enterprises$2,195 $— $2,195 
U.S. Government agency issued or guaranteed8,019 — 8,019 
Obligations of U.S. states and political subdivisions
10 — 10 
Asset-backed securities collateralized by residential mortgages2 — 2 
Total securities held-to-maturity $10,226 $— $10,226 
Realized Gains and Losses on Investment Securities Transactions Attributable to Available-for-Sale Securities The following table summarizes realized gains and losses on investment securities transactions attributable to available-for-sale securities:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
 (in millions)
Gross realized gains$53 $64 $140 $107 
Gross realized losses(1)(18)(29)(31)
Net realized gains$52 $46 $111 $76 
Distribution of Maturities of Debt Securities with the Approximate Yield of the Portfolio The table below also reflects the distribution of maturities of debt securities held at September 30, 2020, together with the approximate yield of the portfolio. The yields shown are calculated by dividing annualized interest income, including the accretion of discounts and the amortization of premiums, by the amortized cost of securities outstanding at September 30, 2020.
 Within
One Year		After One
But Within
Five Years		After Five
But Within
Ten Years		After Ten
Years
AmountYieldAmountYieldAmountYieldAmountYield
 (dollars are in millions)
Available-for-sale:
U.S. Treasury$1,123 .44 %$3,824 1.75 %$6,546 1.40 %$5,236 1.87 %
U.S. Government sponsored enterprises
30 4.48 762 1.77 3,244 2.45 3,672 1.94 
U.S. Government agency issued or guaranteed
— — 98 1.82 1 7.87 10,667 2.19 
Asset-backed securities— — — — 62 4.83 82 3.11 
Foreign debt securities3,203 .29 1,651 .95 — — — — 
Total amortized cost$4,356 .35 %$6,335 1.55 %$9,853 1.77 %$19,657 2.06 %
Total fair value$4,362 $6,478 $10,425 $20,063 
Held-to-maturity:
U.S. Government sponsored enterprises
$59 2.72 %$360 2.64 %$481 2.25 %$1,295 3.16 %
U.S. Government agency issued or guaranteed
— — 11 3.97 14 4.67 7,994 2.60 
Obligations of U.S. states and political subdivisions
— — 6 3.59 4 4.49 — — 
Asset-backed securities— — — — — — 2 7.01 
Total amortized cost$59 2.72 %$377 2.70 %$499 2.34 %$9,291 2.68 %
Total fair value$59 $390 $514 $9,681 
Equity Securities Not Classified as Trading Equity securities that are not classified as trading and are included in other assets consisted of the following:
September 30, 2020December 31, 2019
 (in millions)
Equity securities carried at fair value$283 $283 
Equity securities without readily determinable fair values14 12