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Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Assets and Liabilities Measured at Fair Value

					Fair Value Measurements for Assets and
			June 30,		Liabilities Measured on a Recurring Basis
			2013		Level 1		Level 2		Level 3

					(Dollars in millions)
Assets:
	Trading securities		$	537	$	224	$	301	$	12
	AFS securities:
		GSE securities		441		―		441		―
		RMBS issued by GSE		20,343		―		20,343		―
		States and political subdivisions		1,888		―		1,888		―
		Non-agency RMBS		285		―		285		―
		Other securities		5		5		―		―
		Covered securities		1,515		―		562		953
	LHFS			2,488		―		2,488		―
	Residential MSRs			892		―		―		892
	Derivative assets:
		Interest rate contracts		1,311		―		1,304		7
		Foreign exchange contracts		4		―		4		―
	Private equity and similar investments			269		―		―		269
		Total assets	$	29,978	$	229	$	27,616	$	2,133

Liabilities:
	Derivative liabilities:
		Interest rate contracts	$	1,334	$	―	$	1,238	$	96
		Foreign exchange contracts		2		―		2		―
	Short-term borrowings			259		―		259		―
		Total liabilities	$	1,595	$	―	$	1,499	$	96

					Fair Value Measurements for Assets and
			December 31,		Liabilities Measured on a Recurring Basis
			2012		Level 1		Level 2		Level 3

					(Dollars in millions)
Assets:
	Trading securities		$	497	$	302	$	194	$	1
	AFS securities:
		GSE securities		290		―		290		―
		RMBS issued by GSE		20,930		―		20,930		―
		States and political subdivisions		2,011		―		2,011		―
		Non-agency RMBS		312		―		312		―
		Other securities		3		2		1		―
		Covered securities		1,591		―		597		994
	LHFS			3,761		―		3,761		―
	Residential MSRs			627		―		―		627
	Derivative assets:
		Interest rate contracts		1,446		―		1,391		55
		Foreign exchange contracts		4		―		4		―
	Private equity and similar investments			323		―		―		323
		Total assets	$	31,795	$	304	$	29,491	$	2,000

Liabilities:
	Derivative liabilities:
		Interest rate contracts	$	1,434	$	―	$	1,433	$	1
		Foreign exchange contracts		3		―		3		―
	Short-term borrowings			98		―		98		―
		Total liabilities	$	1,535	$	―	$	1,534	$	1

Roll Forward of Level 3 Assets and Liabilities

				Fair Value Measurements Using Significant Unobservable Inputs
												Private Equity
						Covered		Residential		Net		and Similar
Three Months Ended June 30, 2013				Trading		Securities		MSRs		Derivatives		Investments

				(Dollars in millions)
Balance at April 1, 2013				$	1	$	996	$	735	$	35	$	330
	Total realized and unrealized gains or losses:
		Included in earnings:
			Interest income		―		8		―		―		―
			Mortgage banking income		―		―		100		30		―
			Other noninterest income		―		―		―		―		6
		Included in unrealized net holding gains (losses) in OCI			―		(15)		―		―		―
	Purchases				11		―		―		―		7
	Issuances				―		―		98		(9)		―
	Sales				―		―		―		―		(70)
	Settlements				―		(36)		(41)		(145)		(4)
Balance at June 30, 2013				$	12	$	953	$	892	$	(89)	$	269

Change in unrealized gains (losses) included in
	earnings for the period, attributable to assets
	and liabilities still held at June 30, 2013			$	―	$	8	$	100	$	(89)	$	5

				Fair Value Measurements Using Significant Unobservable Inputs
												Private Equity
						Covered		Residential		Net		and Similar
Three Months Ended June 30, 2012				Trading		Securities		MSRs		Derivatives		Investments

				(Dollars in millions)
Balance at April 1, 2012				$	1	$	1,023	$	696	$	30	$	281
	Total realized and unrealized gains or losses:
		Included in earnings:
			Interest income		―		14		―		―		―
			Mortgage banking income		―		―		(130)		89		―
			Other noninterest income		―		―		―		―		(1)
		Included in unrealized net holding gains (losses) in OCI			―		(22)		―		―		―
	Purchases				―		―		―		―		28
	Issuances				―		―		50		77		―
	Sales				―		―		―		―		(6)
	Settlements				―		(33)		(38)		(128)		(1)
Balance at June 30, 2012				$	1	$	982	$	578	$	68	$	301

Change in unrealized gains (losses) included in
	earnings for the period, attributable to assets
	and liabilities still held at June 30, 2012			$	―	$	14	$	(130)	$	68	$	(2)

				Fair Value Measurements Using Significant Unobservable Inputs
												Private
												Equity and
						Covered		Residential		Net		Similar
Six Months Ended June 30, 2013				Trading		Securities		MSRs		Derivatives		Investments

				(Dollars in millions)
Balance at January 1, 2013				$	1	$	994	$	627	$	54	$	323
	Total realized and unrealized gains (losses):
		Included in earnings:
			Interest income		―		18		―		―		―
			Mortgage banking income		―		―		155		65		―
			Other noninterest income		―		―		―		―		11
		Included in unrealized net holding gains (losses) in OCI			―		10		―		―		―
	Purchases				11		―		―		―		30
	Issuances				―		―		192		27		―
	Sales				―		―		―		―		(89)
	Settlements				―		(69)		(82)		(235)		(6)
Balance at June 30, 2013				$	12	$	953	$	892	$	(89)	$	269

Change in unrealized gains (losses) included in earnings for
	the period, attributable to assets and liabilities still held
	at June 30, 2013			$	―	$	18	$	155	$	(89)	$	8

				Fair Value Measurements Using Significant Unobservable Inputs
												Private
												Equity and
						Covered		Residential		Net		Similar
Six Months Ended June 30, 2012				Trading		Securities		MSRs		Derivatives		Investments

				(Dollars in millions)
Balance at January 1, 2012				$	1	$	984	$	563	$	59	$	261
	Total realized and unrealized gains (losses):
		Included in earnings:
			Interest income		―		18		―		―		―
			Mortgage banking income		―		―		(39)		185		―
			Other noninterest income		―		―		―		―		4
		Included in unrealized net holding gains (losses) in OCI			―		40		―		―		―
	Purchases				―		―		―		―		52
	Issuances				―		―		134		138		―
	Sales				―		―		―		―		(18)
	Settlements				―		(60)		(80)		(314)		2
Balance at June 30, 2012				$	1	$	982	$	578	$	68	$	301

Change in unrealized gains (losses) included in earnings for
	the period, attributable to assets and liabilities still held
	at June 30, 2012			$	―	$	18	$	(39)	$	68	$	7

Fair Value and Unpaid Principal Balance of Loans Held for Sale

	June 30, 2013						December 31, 2012
	Fair		Aggregate				Fair		Aggregate
	Value		UPB		Difference		Value		UPB		Difference

	(Dollars in millions)
LHFS reported at fair value	$	2,488	$	2,558	$	(70)	$	3,761	$	3,652	$	109

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

						June 30, 2013		December 31, 2012

						(Dollars in millions)
Assets that are still held (Level 3):
	Impaired loans, excluding covered					$	67	$	137
	Foreclosed real estate, excluding covered						89		107

		Three Months Ended June 30,				Six Months Ended June 30,
		2013		2012		2013		2012

		(Dollars in millions)
Negative valuation adjustments recognized:
	Impaired loans, excluding covered	$	14	$	25	$	35	$	55
	Foreclosed real estate, excluding covered		―		68		2		136

Carrying Amounts and Fair Values of Financial Assets and Liabilities Not Recorded at Fair Value

		Carrying		Total
June 30, 2013		Amount		Fair Value		Level 2		Level 3

		(Dollars in millions)
Financial assets:
	HTM securities	$	13,751	$	13,445	$	13,407	$	38
	Loans and leases, net of ALLL excluding covered loans		111,270		111,207		―		111,207
	Covered loans, net of ALLL		2,623		3,003		―		3,003
	FDIC loss share receivable		299		(19)		―		(19)

Financial liabilities:
	Deposits		131,079		131,297		131,297		―
	Long-term debt		19,362		20,314		20,314		―

		Carrying		Total
December 31, 2012		Amount		Fair Value		Level 2		Level 3

		(Dollars in millions)
Financial assets:
	HTM securities	$	13,594	$	13,848	$	13,810	$	38
	Loans and leases, net of ALLL excluding covered loans		109,419		109,621		―		109,621
	Covered loans, net of ALLL		3,166		3,661		―		3,661
	FDIC loss share receivable		479		149		―		149

Financial liabilities:
	Deposits		133,075		133,377		133,377		―
	Long-term debt		19,114		20,676		20,676		―

Notional or Contractual Amounts and Fair Values of Off Balance-Sheet Financial Instruments

	June 30, 2013				December 31, 2012
	Notional/				Notional/
	Contract				Contract
	Amount		Fair Value		Amount		Fair Value

	(Dollars in millions)
Commitments to extend, originate or purchase credit	$	42,605	$	78	$	41,410	$	74
Residential mortgage loans sold with recourse		886		12		1,019		12
Other loans sold with recourse		5,012		12		4,970		13
Letters of credit and financial guarantees written		5,012		44		5,164		30

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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-Publisher FASB

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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