Acquisition, Divestiture and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2011

Acquisition, Divestitures and Discontinued Operation (Tables) [Abstract]

Components of Income (Loss) from Discontinued Operations, Net of Taxes, of Education Lending Business

Year ended December 31, in millions	2011		2010		2009
Net interest income	$	138	$	157	$	95
Provision for loan and lease losses		113		79		126
Net interest income (expense) after provision for loan and lease losses		25		78		(31)
Noninterest income		(55)		(66)		23
Noninterest expense		39		48		59
Income (loss) before income taxes		(69)		(36)		(67)
Income taxes		(26)		(14)		(25)
Income (loss) from discontinued operations, net of taxes (a)	$	(43)	$	(22)	$	(42)

(a) Includes after-tax charges of $50 million for 2011, $58 million for 2010, and $59 million for 2009, determined by applying a matched funds transfer pricing methodology to the liabilities assumed necessary to support the discontinued operations.

Components of Assets and Liabilities of Education Lending Business

December 31, in millions	2011		2010
Trust loans at fair value	$	2,726	$	3,125
Portfolio loans at fair value		76		—
Loans, net of unearned income of ($2) and $1		3,010		3,326
Less: Allowance for loan and lease losses		104		114
Net loans		5,708		6,337
Loans held for sale		—		15
Trust accrued income and other assets at fair value		121		169
Total assets	$	5,829	$	6,521
Trust accrued expense and other liabilities at fair value	$	28	$	31
Trust securities at fair value		2,522		2,966
Total liabilities	$	2,550	$	2,997

Assumptions used to measure fair value of assets and liabilities

December 31, 2011 dollars in millions
Weighted-average life (years)	1.4 - 5.9
PREPAYMENT SPEED ASSUMPTIONS (ANNUAL RATE)	4.00 - 26.00	%
EXPECTED CREDIT LOSSES	2.00 - 80.00	%
LOAN DISCOUNT RATES (ANNUAL RATE)	2.57 - 10.59	%
SECURITY DISCOUNT RATES (ANNUAL RATE)	2.28 - 9.60	%
EXPECTED DEFAULTS (STATIC RATE)	3.75 - 40.00	%

Consolidated trusts' assets and liabilities at fair value and contractual values

December 31, 2011 in millions	Contractual Amount		Fair Value
ASSETS
Portfolio loans	$	73	$	76
Trust loans		2,908		2,726
Trust other assets		34		34
LIABILITIES
Trust securities	$	2,980	$	2,522
Trust other liabilities		28		28

Assets and liabilities at fair value on a recurring basis

December 31, 2011 in millions	Level 1		Level 2		Level 3		Total
ASSETS MEASURED ON A RECURRING BASIS
Portfolio loans		—		—	$	76	$	76
Trust loans		—		—		2,726		2,726
Trust other assets		—		—		34		34
Total assets on a recurring basis at fair value		—		—	$	2,836	$	2,836
LIABILITIES MEASURED ON A RECURRING BASIS
Trust securities		—		—	$	2,522	$	2,522
Trust other liabilities		—		—		28		28
Total liabilities on a recurring basis at fair value		—		—	$	2,550	$	2,550

Change in the fair values of the Level 3 consolidated education loan securitization trusts and the portfolio loans

in millions	Portfolio Student Loans			Trust Student Loans			Trust Other Assets			Trust Securities			Trust Other Liabilities
Balance at January 1, 2011		—		$	3,125		$	45		$	2,966		$	31
Gains (losses) recognized in earnings (a)	$	3			26			—			81			—
Purchases		75			—			—			—			—
Sales		—			(75	)		—			—			—
Issuances		—			—			—			—			—
Settlements		(2	)		(350	)		(11	)		(525	)		(3	)
Balance at December 30, 2011	$	76		$	2,726		$	34		$	2,522		$	28

Components of Income (Loss) from Discontinued Operations, Net of Taxes, of Austin Capital Management

Year ended December 31, in millions	2011		2010		2009
Noninterest income	$	1	$	5	$	26
Intangible assets impairment		—		—		27
Other noninterest expense		2		6		8
Income (loss) before income taxes		(1)		(1)		(9)
Income taxes		—		—		(3)
Income (loss) from discontinued operations, net of taxes	$	(1)	$	(1)	$	(6)

Components of Assets and Liabilities of Austin Capital Management

December 31, in millions	2011		2010
Cash and due from banks	$	31	$	33
Total assets	$	31	$	33
Accrued expense and other liabilities		—	$	1
Total liabilities		—	$	1

Combined Results of Discontinued Operations

Year ended December 31, in millions	2011		2010		2009
Net interest income	$	138	$	157	$	95
Provision for loan and lease losses		113		79		126
Net interest income (expense) after provision for loan and lease losses		25		78		(31)
Noninterest income		(54)		(61)		49
Intangible assets impairment		—		—		27
Noninterest expense		41		54		67
Income (loss) before income taxes		(70)		(37)		(76)
Income taxes		(26)		(14)		(28)
Income (loss) from discontinued operations, net of taxes (a)	$	(44)	$	(23)	$	(48)

(a) Includes after-tax charges of $50 million for 2011, $58 million for 2010, and $59 million for 2009, determined by applying a matched funds transfer pricing methodology to the liabilities assumed necessary to support the discontinued operations.

Combined Assets and Liabilities of Discontinued Operations

December 31, in millions	2011		2010
Cash and due from banks	$	31	$	33
Trust loans at fair value		2,726		3,125
Portfolio loans at fair value		76		—
Loans, net of unearned income of ($2) and $1		3,010		3,326
Less: Allowance for loan and lease losses		104		114
Net loans		5,708		6,337
Loans held for sale		—		15
Trust accrued income and other assets at fair value		121		169
Total assets	$	5,860	$	6,554
Trust accrued expense and other liabilities at fair value	$	28	$	31
Accrued expense and other liabilities		—		1
Trust securities at fair value		2,522		2,966
Total liabilities	$	2,550	$	2,998