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Securities (Tables)
 9 Months Ended
Sep. 30, 2021
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, 2021December 31, 2020
Dollars in millions
Amortized
Cost (a)
Gross Unrealized GainsGross Unrealized Losses
Fair
Value
Amortized
Cost (b)
Gross Unrealized GainsGross Unrealized Losses
Fair
Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury, agencies, and corporations$8,960 — $22 $8,938 $1,000 — — $1,000 
Agency residential collateralized mortgage obligations
16,143 $168 207 16,104 14,001 $297 $25 14,273 
Agency residential mortgage-backed securities5,409 51 52 5,408 2,094 70 — 2,164 
Agency commercial mortgage-backed securities 10,141 253 273 10,121 9,707 432 33 10,106 
Other securities8 15 23 8 5 — 13 
Total securities available for sale $40,661 $487 $554 $40,594 $26,810 $804 $58 $27,556 
HELD-TO-MATURITY SECURITIES
Agency residential collateralized mortgage obligations
$2,485 $69 — $2,554 $3,775 $124 — $3,899 
Agency residential mortgage-backed securities184 7 — 191 271 14 — 285 
Agency commercial mortgage-backed securities2,901 165 — 3,066 3,515 290 — 3,805 
Asset-backed securities (c)
2,837 — — 2,837 19 — — 19 
Other securities16 — — 16 15 — — 15 
Total held-to-maturity securities$8,423 $241 — $8,664 $7,595 $428 $— $8,023 
(a)Amortized cost amounts exclude accrued interest receivable which is recorded within Other Assets on the balance sheet. At September 30, 2021, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $53 million and $15 million, respectively.
(b)Amortized cost amounts exclude accrued interest receivable which is recorded within Other Assets on the balance sheet. At December 31, 2020, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $42 million and $15 million, respectively.
(c)Includes $2.8 billion of securities as of September 30, 2021 related to the purchase of senior notes from a securitization collateralized by sold indirect auto loans.
Schedule of Unrealized Loss on Investments
The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of September 30, 2021, and December 31, 2020.

 Duration of Unrealized Loss Position  
 Less than 12 Months12 Months or LongerTotal
Dollars in millions
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
September 30, 2021
Securities available for sale:
U.S Treasury, agencies, and corporations
$8,938 $22 — — $8,938 $22 
Agency residential collateralized mortgage obligations
7,647 150 $868 $57 8,515 207 
Agency residential mortgage-backed securities
3,619 52 6 — 
(a)
3,625 52 
Agency commercial mortgage-backed securities
4,219 215 1,093 58 5,312 273 
Held-to-maturity securities:
Asset-backed securities
1 — 
(a)
1 — 2 — 
Other securities
8,460 — 
(a)
— — 
(a)
8,460 — 
Total securities in an unrealized loss position$32,884 $439 $1,968 $115 $34,852 $554 
December 31, 2020
Securities available for sale:
Agency residential collateralized mortgage obligations$2,110 $25 — — $2,110 $25 
Agency residential mortgage-backed securities
6 — 
(b)
$5 — 
(b)
11 — 
Agency commercial mortgage-backed securities 2,709 33 — — 2,709 33 
Held-to-maturity securities:
Agency residential collateralized mortgage obligations— — 24 — 
(b)
24 — 
Other securities
5 — 
(b)
— — 5 — 
Total securities in an unrealized loss position$4,830 $58 $29 — $4,859 $58 
(a)At September 30, 2021, gross unrealized losses totaled less than $1 million for asset-backed securities and other securities held-to-maturity with a loss duration of less than 12 months and asset-backed securities held-to-maturity with a loss duration of 12 months or longer. At September 30, 2021, gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration greater than 12 months.
(b)At December 31, 2020, gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration of less than 12 months and less than $1 million for other securities held-to-maturity with a loss duration of less than 12 months. At December 31, 2020, gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration greater than 12 months or longer and less than $1 million for agency residential collateralized mortgage obligations held to maturity with a loss duration greater than 12 months or longer.
Securities by Maturity
The following table shows our securities by remaining maturity. CMOs, other mortgage-backed securities, and asset-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.

September 30, 2021Securities Available for SaleHeld to Maturity Securities
Dollars in millionsAmortized CostFair ValueAmortized CostFair Value
Due in one year or less$230 $247 $93 $95 
Due after one through five years19,818 20,076 6,330 6,452 
Due after five through ten years17,312 17,128 2,000 2,117 
Due after ten years3,301 3,143 — — 
Total$40,661 $40,594 $8,423 $8,664