Securities (Tables)

3 Months Ended

Mar. 31, 2015

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.

	March 31, 2015
in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
States and political subdivisions	$	21	$	1		—	$	22
Collateralized mortgage obligations		11,116		124	$	77		11,163
Other mortgage-backed securities		1,870		32		—		1,902
Other securities		30		3		—		33
Total securities available for sale	$	13,037	$	160	$	77	$	13,120
HELD-TO-MATURITY SECURITIES
Collateralized mortgage obligations	$	4,749	$	26	$	30	$	4,745
Other mortgage-backed securities		234		2		—		236
Other securities		22		—		—		22
Total held-to-maturity securities	$	5,005	$	28	$	30	$	5,003

	December 31, 2014
in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
States and political subdivisions	$	22	$	1		—	$	23
Collateralized mortgage obligations		11,310		96	$	136		11,270
Other mortgage-backed securities		2,004		32		1		2,035
Other securities		29		3		—		32
Total securities available for sale	$	13,365	$	132	$	137	$	13,360
HELD-TO-MATURITY SECURITIES
Collateralized mortgage obligations	$	4,755	$	15	$	57	$	4,713
Other mortgage-backed securities		240		1		—		241
Other securities		20		—		—		20
Total held-to-maturity securities	$	5,015	$	16	$	57	$	4,974

	March 31, 2014
in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
States and political subdivisions	$	37		—		—	$	37
Collateralized mortgage obligations		10,541	$	136	$	208		10,469
Other mortgage-backed securities		1,817		25		10		1,832
Other securities		17		4		—		21
Total securities available for sale	$	12,412	$	165	$	218	$	12,359
HELD-TO-MATURITY SECURITIES
Collateralized mortgage obligations	$	4,806	$	9	$	102	$	4,713
Other securities		20		—		—		20
Total held-to-maturity securities	$	4,826	$	9	$	102	$	4,733

Available for Sale Securities (Unrealized Loss Position)

The following table summarizes our securities that were in an unrealized loss position as of March 31, 2015, December 31, 2014, and March 31, 2014.

	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
March 31, 2015
Securities available for sale:
Collateralized mortgage obligations	$	1,722	$	25	$	2,722	$	52	$	4,444	$	77
Other mortgage-backed securities (a)		39		—		—		—		39		—
Other securities (b)		3		—		2		—		5		—
Held-to-maturity:
Collateralized mortgage obligations		637		8		1,348		22		1,985		30
Other securities (c)		4		—		—		—		4		—
Total temporarily impaired securities	$	2,405	$	33	$	4,072	$	74	$	6,477	$	107
December 31, 2014
Securities available for sale:
Collateralized mortgage obligations	$	3,019	$	52	$	2,932	$	84	$	5,951	$	136
Other mortgage-backed securities		—		—		78		1		78		1
Other securities (b)		4		—		2		—		6		—
Held-to-maturity:
Collateralized mortgage obligations		1,005		11		1,994		46		2,999		57
Total temporarily impaired securities	$	4,028	$	63	$	5,006	$	131	$	9,034	$	194
March 31, 2014
Securities available for sale:
Collateralized mortgage obligations	$	4,401	$	173	$	678	$	35	$	5,079	$	208
Other mortgage-backed securities		1,153		10		—		—		1,153		10
Other securities (b)		—		—		2		—		2		—
Held-to-maturity:
Collateralized mortgage obligations		3,139		92		200		10		3,339		102
Other securities (c)		—		—		—		—		—		—
Total temporarily impaired securities	$	8,693	$	275	$	880	$	45	$	9,573	$	320

(a) Gross unrealized losses totaled less than $1 million for other mortgage-backed securities available sale for the three-month period ended March 31, 2015.

(b) Gross unrealized losses totaled less than $1 million for other securities available sale for the three-month period ended March 31, 2015, the year ended December 31, 2014, and the three-month period ended March 31, 2014.

(c) Gross unrealized losses totaled less than $1 million for other securities held-to-maturity for the three-month periods ended March 31, 2015, and March 31, 2014.

Cumulative Credit Portion of Impairments on Debt Securities

As shown in the following table, we had less than $1 million of impairment losses recognized in earnings for the three months ended March 31, 2015.

Three months ended March 31, 2015
in millions
Balance at December 31, 2014	$	4
Impairment recognized in earnings		—
Balance at March 31, 2015	$	4

Available for Sale Securities Realized Gains and Losses

Realized gains and losses related to securities available for sale were as follows:

Three months ended March 31, 2015
in millions
Realized gains	—
Realized losses	—
Net securities gains (losses)	—

Securities by Maturity

 Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties.

	Securities				Held-to-Maturity
	Available for Sale				Securities
March 31, 2015	Amortized		Fair		Amortized		Fair
in millions	Cost		Value		Cost		Value
Due in one year or less	$	288	$	292	$	9	$	9
Due after one through five years		12,599		12,676		4,504		4,498
Due after five through ten years		147		149		492		496
Due after ten years		3		3		—		—
Total	$	13,037	$	13,120	$	5,005	$	5,003