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Securities (Tables)
 12 Months Ended
Dec. 31, 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:
December 31, 2020Amortized
Cost
Allowance for Credit Losses(1)
Unrealized
Gains		Unrealized
Losses		Fair
Value
 (in millions)
Securities available-for-sale:
U.S. Treasury$16,087 $— $608 $(47)$16,648 
U.S. Government sponsored enterprises:
Mortgage-backed securities5,986 — 280 (2)6,264 
Collateralized mortgage obligations1,676 — 19 (2)1,693 
Direct agency obligations1,236 — 17 — 1,253 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities6,993 — 152 — 7,145 
Collateralized mortgage obligations2,093 — 22 (11)2,104 
Direct agency obligations296 — 5 — 301 
Asset-backed securities collateralized by:
Home equity28 (1)— — 27 
Other114 — — (10)104 
Foreign debt securities(2)
5,127 — 6 — 5,133 
Total available-for-sale securities$39,636 $(1)$1,109 $(72)$40,672 
Securities held-to-maturity:
U.S. Government sponsored enterprises:
Mortgage-backed securities$1,137 $— $44 $— $1,181 
Collateralized mortgage obligations780 — 53 — 833 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities1,947 — 76 — 2,023 
Collateralized mortgage obligations5,107 — 212 — 5,319 
Obligations of U.S. states and political subdivisions10 — 1 — 11 
Asset-backed securities collateralized by residential mortgages2 (2)2 — 2 
Total held-to-maturity securities$8,983 $(2)$388 $— $9,369 
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 2, "Summary of Significant Accounting Policies and 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 December 31, 2020 classified as to the length of time the losses have existed:
 One Year or LessGreater Than One Year
December 31, 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. Treasury5 $(5)$751 13 $(42)$1,271 
U.S. Government sponsored enterprises15 (3)715 8 (1)46 
U.S. Government agency issued or guaranteed
13 (11)1,482 3 — 8 
Asset-backed securities3 (10)104 2 — — 
Foreign debt securities6 — 766 5 — 241 
Securities available-for-sale42 $(29)$3,818 31 $(43)$1,566 
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 December 31, 2020Investment GradeNon-Investment GradeTotal
 (in millions)
U.S. Government sponsored enterprises$1,917 $— $1,917 
U.S. Government agency issued or guaranteed7,054 — 7,054 
Obligations of U.S. states and political subdivisions
10 — 10 
Asset-backed securities collateralized by residential mortgages2 — 2 
Total securities held-to-maturity $8,983 $— $8,983 
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:
Year Ended December 31,202020192018
 (in millions)
Gross realized gains$174 $148 $54 
Gross realized losses(37)(60)(30)
Net realized gains$137 $88 $24 
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 December 31, 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 December 31, 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$1,026 3.27 %$4,777 1.00 %$6,090 1.39 %$4,194 2.00 %
U.S. Government sponsored enterprises
30 2.78 803 2.12 3,098 2.43 4,967 1.78 
U.S. Government agency issued or guaranteed
— — 97 1.81 1 7.87 9,284 2.02 
Asset-backed securities— — — — 61 4.90 81 3.14 
Foreign debt securities3,796 .24 1,331 .93 — — — — 
Total amortized cost$4,852 .90 %$7,008 1.12 %$9,250 1.76 %$18,526 1.96 %
Total fair value$4,879 $7,161 $9,709 $18,923 
Held-to-maturity:
U.S. Government sponsored enterprises
$110 2.49 %$258 2.72 %$436 2.25 %$1,113 3.25 %
U.S. Government agency issued or guaranteed
— — 9 3.79 13 4.51 7,032 2.57 
Obligations of U.S. states and political subdivisions
1 2.69 6 3.20 3 4.93 — — 
Asset-backed securities— — — — — — 2 5.95 
Total amortized cost$111 2.49 %$273 2.76 %$452 2.34 %$8,147 2.67 %
Total fair value$111 $283 $467 $8,508 
Equity Securities Not Classified as Trading Equity securities that are not classified as trading and are included in other assets consisted of the following:
At December 31,20202019
 (in millions)
Equity securities carried at fair value$284 $283 
Equity securities without readily determinable fair values14 12