Securities (Tables)

9 Months Ended

Sep. 30, 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.

	September 30, 2015
in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
States and political subdivisions	$	14	$	1		—	$	15
Collateralized mortgage obligations		11,938		127	$	62		12,003
Other mortgage-backed securities		2,309		22		1		2,330
Other securities		27		1		—		28
Total securities available for sale	$	14,288	$	151	$	63	$	14,376
HELD-TO-MATURITY SECURITIES
Collateralized mortgage obligations	$	4,299	$	24		23	$	4,300
Other mortgage-backed securities		617		3		—		620
Other securities		20		—		—		20
Total held-to-maturity securities	$	4,936	$	27	$	23	$	4,940
	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
	September 30, 2014
in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
States and political subdivisions	$	26	$	1		—	$	27
Collateralized mortgage obligations		10,096		109	$	196		10,009
Other mortgage-backed securities		2,156		24		3		2,177
Other securities		28		4		—		32
Total securities available for sale	$	12,306	$	138	$	199	$	12,245
HELD-TO-MATURITY SECURITIES
Collateralized mortgage obligations	$	4,977	$	10	$	96	$	4,891
Other securities		20		—		—		20
Total held-to-maturity securities	$	4,997	$	10	$	96	$	4,911

Available for Sale Securities (Unrealized Loss Position)

The following table summarizes our securities that were in an unrealized loss position as of September 30, 2015, December 31, 2014, and September 30, 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
September 30, 2015
Securities available for sale:
Collateralized mortgage obligations	$	770	$	3	$	3,348	$	59	$	4,118	$	62
Other mortgage-backed securities		420		1		—		—		420		1
Other securities (a)		2		—		3		—		5		—
Held-to-maturity:
Collateralized mortgage obligations		214		1		1,355		22		1,569		23
Other mortgage-backed securities		110		—		—		—		110		—
Other securities (b)		4		—		—		—		4		—
Total temporarily impaired securities	$	1,520	$	5	$	4,706	$	81	$	6,226	$	86
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 (a)		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
September 30, 2014
Securities available for sale:
Collateralized mortgage obligations	$	605	$	7	$	4,379	$	189	$	4,984	$	196
Other mortgage-backed securities		811		1		81		2		892		3
Other securities (a)		1		—		2		—		3		—
Held-to-maturity:
Collateralized mortgage obligations		1,288		13		2,342		83		3,630		96
Total temporarily impaired securities	$	2,705	$	21	$	6,804	$	274	$	9,509	$	295

(a) Gross unrealized losses totaled less than $1 million for other securities available for sale as of September 30, 2015, December 31, 2014, and September 30, 2014.

(b) Gross unrealized losses totaled less than $1 million for other securities held-to-maturity as of September 30, 2015.

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 three months ended September 30, 2015.

Three months ended September 30, 2015
in millions
Balance at June 30, 2015	$	4
Impairment recognized in earnings		—
Balance at September 30, 2015	$	4

Available for Sale Securities Realized Gains and Losses

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

Nine months ended September 30, 2015
in millions
Realized gains		—
Realized losses	$	1
Net securities gains (losses)	$	(1	)

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 Available for Sale				Held-to-Maturity Securities
September 30, 2015 in millions	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	297	$	302	$	9	$	9
Due after one through five years		12,659		12,735		4,310		4,311
Due after five through ten years		1,329		1,336		617		620
Due after ten years		3		3		—		—
Total	$	14,288	$	14,376	$	4,936	$	4,940