Income Taxes (Tables)

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

Effective Tax Rates

	2012					2011
	(dollars are in millions)
Three Months Ended June 30,
Tax expense (benefit) at the U.S. federal statutory income tax rate	$	(84	)	(35.0	)%	$	32		35.0	%
Increase (decrease) in rate resulting from:
State and local taxes, net of federal benefit		16		6.5			16		17.8
Adjustment of tax rate used to value deferred taxes		-		-			(8	)	(8.9	)
Valuation allowance on deferred tax assets		-		-			(8	)	(8.9	)
Non-deductible expense accrual related to certain regulatory matters		245		102.0			-		-
Non-deductible goodwill related to sale of branches		106		44.3			-		-
Accrual of tax reserves		21		8.7			-		-
Tax exempt interest income		(3	)	(1.2	)		(2	)	(2.2	)
Low income housing and other tax credits		(25	)	(10.3	)		(21	)	(23.3	)
Impact of foreign operations		29		11.9			7		7.8
Uncertain tax provision		49		20.6			127		141.1
Other		(3	)	(1.3	)		(9	)	(9.5	)
Effective tax rate	$	351		146.2	%	$	134		148.9	%
Six Months Ended June 30,
Tax expense (benefit) at the U.S. federal statutory income tax rate	$	(50	)	(35.0	)%	$	134		35.0	%
Increase (decrease) in rate resulting from:
State and local taxes, net of federal benefit		22		15.2			37		9.7
Adjustment of tax rate used to value deferred taxes		(10	)	(7.2	)		18		4.7
Valuation allowance on deferred tax assets		-		-			(143	)	(37.4	)
Non-deductible expense accrual related to certain regulatory matters		245		171.3			-		-
Non-deductible goodwill related to sale of branches		106		74.3			-		-
Accrual of tax reserves		21		14.7			-		-
Tax exempt interest income		(5	)	(3.4	)		(5	)	(1.3	)
Low income housing and other tax credits		(57	)	(39.7	)		(42	)	(11.0	)
Impact of foreign operations		36		24.8			8		2.1
Uncertain tax provision		65		45.7			127		33.2
Other		(4	)	(2.8	)		(13	)	(3.3	)
Effective tax rate	$	369		257.9	%	$	121		31.7	%