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Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2012
Intangible Assets and Goodwill [Abstract]  
Schedule of Intangible Assets and Goodwill
                 
    

June 30,

2012

   

December 31,

2011

 
    (in millions)  

Mortgage servicing rights

  $ 194     $ 227  

Purchased credit card relationships

    63       -  

Other

    11       15  
   

 

 

   

 

 

 

Total other intangible assets, net

  $ 268     $ 242  
   

 

 

   

 

 

 
Fair value of residential MSRs
                 
    

June 30,

2012

   

December 31,

2011

 

Annualized constant prepayment rate (“CPR”)

    23.0     21.4

Constant discount rate

    11.2     11.3

Weighted average life

    3.2 years       3.4 years  
Residential MSRs activity
                                 
      Three Months Ended  
June 30,
      Six Months Ended  
June 30,
 
     2012     2011     2012     2011  
    (in millions)  

Fair value of MSRs:

                               

Beginning balance

  $ 228     $ 396     $ 220     $ 394  

Additions related to loan sales

    6       9       14       25  

Changes in fair value due to:

                               

Change in valuation inputs or assumptions used in the valuation models

    (31     (27     (15     (22

Realization of cash flows

    (16     (15     (32     (34
   

 

 

   

 

 

   

 

 

   

 

 

 

Ending balance

  $ 187     $ 363     $ 187     $ 363  
   

 

 

   

 

 

   

 

 

   

 

 

 
Residential mortgage loans serviced for others
                 
    

June 30,

2012

   

December 31,

2011

 
    (in millions)  

Outstanding principal balances at period end

  $ 35,095     $ 37,839  
   

 

 

   

 

 

 

Custodial balances maintained and included in noninterest bearing deposits at period end

  $ 827     $ 838