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Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
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

 
 
 
 
 
 
 
 
 
 
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

 
 
 
 
 
 
 
(a)
Gross unrealized losses totaled less than $1 million for other securities held-to maturity at September 30, 2018, and December 31, 2017.
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

 
 
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