Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Intangible Assets

Intangible assets consisted of the following:

	September 30, 2012		December 31, 2011
	(in millions)
Mortgage servicing rights	$	181	$	227
Purchased credit card relationships		62		-
Other		10		15
Total other intangible assets, net	$	253	$	242

Fair Value of Residential MSRs

Fair value of residential MSRs is calculated using the following critical assumptions:

	September 30, 2012			December 31, 2011
Annualized constant prepayment rate (“CPR”)		23.2	%		21.4	%
Constant discount rate		10.8	%		11.3	%
Weighted average life		3.2 years			3.4 years

Residential MSRs Activity

Residential MSRs activity is summarized in the following table:

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2012			2011			2012			2011
	(in millions)
Fair value of MSRs:
Beginning balance	$	187		$	363		$	220		$	394
Additions related to loan sales		6			7			20			32
Changes in fair value due to:
Change in valuation inputs or assumptions used in the valuation models		(5	)		(110	)		(20	)		(132	)
Realization of cash flows		(15	)		(23	)		(47	)		(57	)
Ending balance	$	173		$	237		$	173		$	237

Residential Mortgage Loans Serviced for Others

Information regarding residential mortgage loans serviced for others, which are not included in the consolidated balance sheet, is summarized in the following table:

	September 30, 2012		December 31, 2011
	(in millions)
Outstanding principal balances at period end	$	33,584	$	37,839
Custodial balances maintained and included in noninterest bearing deposits at period end	$	838	$	838