Securities (Tables)
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9 Months Ended |
Sep. 30, 2018 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Details of Securities |
The amortized cost, unrealized gains and losses, and approximate fair value of our securities available for sale and held-to-maturity securities are presented in the following tables. Gross unrealized gains and losses represent the difference between the amortized cost and the fair value of securities on the balance sheet as of the dates indicated. Accordingly, the amount of these gains and losses may change in the future as market conditions change. | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2018 | | December 31, 2017 | in millions | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | SECURITIES AVAILABLE FOR SALE | | | | | | | | | | U.S. Treasury, agencies, and corporations | $ | 150 |
| — |
| $ | 5 |
| $ | 145 |
| | $ | 159 |
| — |
| $ | 2 |
| $ | 157 |
| States and political subdivisions | 7 |
| — |
| — |
| 7 |
| | 9 |
| — |
| — |
| 9 |
| Agency residential collateralized mortgage obligations | 14,804 |
| $ | 4 |
| 616 |
| 14,192 |
| | 14,985 |
| $ | 10 |
| 335 |
| 14,660 |
| Agency residential mortgage-backed securities | 1,708 |
| 2 |
| 49 |
| 1,661 |
| | 1,456 |
| 3 |
| 20 |
| 1,439 |
| Agency commercial mortgage-backed securities | 2,439 |
| — |
| 123 |
| 2,316 |
| | 1,920 |
| — |
| 66 |
| 1,854 |
| Other securities | 17 |
| 3 |
| — |
| 20 |
| | 17 |
| 3 |
| — |
| 20 |
| Total securities available for sale | $ | 19,125 |
| $ | 9 |
| $ | 793 |
| $ | 18,341 |
| | $ | 18,546 |
| $ | 16 |
| $ | 423 |
| $ | 18,139 |
| HELD-TO-MATURITY SECURITIES | | | | | | | | | | Agency residential collateralized mortgage obligations | $ | 7,330 |
| — |
| $ | 400 |
| $ | 6,930 |
| | $ | 8,055 |
| — |
| $ | 224 |
| $ | 7,831 |
| Agency residential mortgage-backed securities | 508 |
| — |
| 22 |
| 486 |
| | 574 |
| $ | 1 |
| 4 |
| 571 |
| Agency commercial mortgage-backed securities | 4,019 |
| — |
| 186 |
| 3,833 |
| | 3,186 |
| 6 |
| 44 |
| 3,148 |
| Other securities | 12 |
| — |
| — |
| 12 |
| | 15 |
| — |
| — |
| 15 |
| Total held-to-maturity securities | $ | 11,869 |
| $ | — |
| $ | 608 |
| $ | 11,261 |
| | $ | 11,830 |
| $ | 7 |
| $ | 272 |
| $ | 11,565 |
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| Schedule of Unrealized Loss on Investments |
The following table summarizes our securities that were in an unrealized loss position as of September 30, 2018, and December 31, 2017. | | | | | | | | | | | | | | | | | | | | | Duration of Unrealized Loss Position | | | | Less than 12 Months | 12 Months or Longer | Total | in millions | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | September 30, 2018 | | | | | | | Securities available for sale: | | | | | | | U.S Treasury, agencies, and corporations | — |
| — |
| $ | 145 |
| $ | 5 |
| $ | 145 |
| $ | 5 |
| Agency residential collateralized mortgage obligations | $ | 3,121 |
| 54 |
| 10,062 |
| 562 |
| 13,183 |
| 616 |
| Agency residential mortgage-backed securities | 409 |
| 3 |
| 1,089 |
| 46 |
| 1,498 |
| 49 |
| Agency commercial mortgage-backed securities | 558 |
| 2 |
| 1,758 |
| 121 |
| 2,316 |
| 123 |
| Held-to-maturity securities: | | | | | | | Agency residential collateralized mortgage obligations | 1,275 |
| 44 |
| 5,655 |
| 356 |
| 6,930 |
| 400 |
| Agency residential mortgage-backed securities | 153 |
| 6 |
| 333 |
| 16 |
| 486 |
| 22 |
| Agency commercial mortgage-backed securities | 2,629 |
| 98 |
| 1,205 |
| 88 |
| 3,834 |
| 186 |
| Other securities (a) | 2 |
| — |
| — |
| — |
| 2 |
| — |
| Total temporarily impaired securities | $ | 8,147 |
| $ | 207 |
| $ | 20,247 |
| $ | 1,194 |
| $ | 28,394 |
| $ | 1,401 |
| December 31, 2017 | | | | | | | Securities available for sale: | | | | | | | U.S. Treasury, agencies, and corporations | $ | 41 |
| — |
| $ | 116 |
| 2 |
| $ | 157 |
| $ | 2 |
| Agency residential collateralized mortgage obligations | 6,153 |
| $ | 74 |
| 7,270 |
| $ | 261 |
| 13,423 |
| 335 |
| Agency residential mortgage-backed securities | 666 |
| 7 |
| 702 |
| 13 |
| 1,368 |
| 20 |
| Agency commercial mortgage-backed securities | 205 |
| 4 |
| 1,649 |
| 62 |
| 1,854 |
| 66 |
| Held-to-maturity securities: | | | | | | | Agency residential collateralized mortgage obligations | 2,201 |
| 27 |
| 5,599 |
| 197 |
| 7,800 |
| 224 |
| Agency residential mortgage-backed securities | 252 |
| 1 |
| 206 |
| 3 |
| 458 |
| 4 |
| Agency commercial mortgage-backed securities | 1,470 |
| 12 |
| 495 |
| 32 |
| 1,965 |
| 44 |
| Other securities (a) | 3 |
| — |
| 4 |
| — |
| 7 |
| — |
| Total temporarily impaired securities | $ | 10,991 |
| $ | 125 |
| $ | 16,041 |
| $ | 570 |
| $ | 27,032 |
| $ | 695 |
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| | (a) | Gross unrealized losses totaled less than $1 million for other securities held-to maturity at September 30, 2018, and December 31, 2017. |
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| Cumulative Credit Portion of Impairments on Debt Securities |
As shown in the following table, we did not have any impairment losses recognized in earnings for the nine months ended September 30, 2018. | | | | | Nine months ended September 30, 2018 | | in millions | | Balance at December 31, 2017 | $ | 4 |
| Impairment recognized in earnings | — |
| Balance at September 30, 2018 | $ | 4 |
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| Securities by Maturity |
The following table shows our securities by remaining maturity. CMOs and other mortgage-backed securities in the available for sale portfolio and held-to-maturity portfolio are presented based on their expected average lives. The remaining securities, in both the available-for-sale and held-to-maturity portfolios, are presented based on their remaining contractual maturity. Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties. | | | | | | | | | | | | | | | Securities Available for Sale | Held to Maturity Securities | September 30, 2018 | Amortized Cost | Fair Value | Amortized Cost | Fair Value | in millions | Due in one year or less | $ | 93 |
| $ | 93 |
| $ | 31 |
| $ | 30 |
| Due after one through five years | 12,365 |
| 11,846 |
| 6,181 |
| 5,910 |
| Due after five through ten years | 6,655 |
| 6,390 |
| 5,657 |
| 5,321 |
| Due after ten years | 12 |
| 12 |
| — |
| — |
| Total | $ | 19,125 |
| $ | 18,341 |
| $ | 11,869 |
| $ | 11,261 |
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