Securities (Tables)

9 Months Ended

Sep. 30, 2013

Securities

Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Values of Securities Available for Sale

			Amortized		Gross Unrealized				Fair
September 30, 2013			Cost		Gains		Losses		Value
			(Dollars in millions)
AFS securities:
	GSE securities		$	549	$	—	$	—	$	549
	MBS issued by GSE			18,957		128		369		18,716
	States and political subdivisions			1,892		69		102		1,859
	Non-agency MBS			273		10		5		278
	Other securities			17		—		—		17
	Covered securities			1,033		413		—		1,446
		Total AFS securities	$	22,721	$	620	$	476	$	22,865

			Amortized		Gross Unrealized				Fair
December 31, 2012			Cost		Gains		Losses		Value
			(Dollars in millions)
AFS securities:
	GSE securities		$	290	$	—	$	—	$	290
	MBS issued by GSE			20,482		466		18		20,930
	States and political subdivisions			1,948		153		90		2,011
	Non-agency MBS			307		16		11		312
	Other securities			3		—		—		3
	Covered securities			1,147		444		—		1,591
		Total AFS securities	$	24,177	$	1,079	$	119	$	25,137

Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Values of Securities Held to Maturity

			Amortized		Gross Unrealized				Fair
September 30, 2013			Cost		Gains		Losses		Value
			(Dollars in millions)
HTM securities:
	GSE securities		$	5,382	$	3	$	328	$	5,057
	Mortgage-backed securities issued by GSE			7,668		27		61		7,634
	States and political subdivisions			32		1		1		32
	Other securities			447		11		—		458
		Total HTM securities	$	13,529	$	42	$	390	$	13,181

			Amortized		Gross Unrealized				Fair
December 31, 2012			Cost		Gains		Losses		Value
			(Dollars in millions)
HTM securities:
	GSE securities		$	3,808	$	17	$	1	$	3,824
	Mortgage-backed securities issued by GSE			9,273		238		1		9,510
	States and political subdivisions			34		1		1		34
	Other securities			479		4		3		480
		Total HTM securities	$	13,594	$	260	$	6	$	13,848

Gross Realized Gains and Losses

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
		2013		2012		2013		2012
	(Dollars in millions)
Gross gains	$	―	$	1	$	46	$	1
Gross losses		―		―		―		(4)
Net realized gains (losses)	$	―	$	1	$	46	$	(3)

Schedule of the Changes in Credit Losses on Other-Than-Temporarily Impaired Non-Agency RMBSs where a Portion of Unrealized Loss was Recognized in OCI

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
		2013		2012		2013		2012
	(Dollars in millions)
Balance at beginning of period	$	96	$	113	$	105	$	130
Credit losses on securities with previously recognized OTTI		―		2		―		5
Reductions for securities sold/settled during the period		(3)		(4)		(12)		(24)
Balance at end of period	$	93	$	111	$	93	$	111

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

		AFS				HTM
		Amortized		Fair		Amortized		Fair
September 30, 2013		Cost		Value		Cost		Value
		(Dollars in millions)
Due in one year or less		$	251	$	251	$	―	$	―
Due after one year through five years			432		440		―		―
Due after five years through ten years			572		595		5,213		4,901
Due after ten years			21,466		21,579		8,316		8,280
	Total debt securities	$	22,721	$	22,865	$	13,529	$	13,181

Gross Unrealized Losses and Fair Values of Investments by Investment Category and Length of Time in Unrealized Loss Position

			Less than 12 months				12 months or more				Total
			Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2013			Value		Losses		Value		Losses		Value		Losses
			(Dollars in millions)
AFS securities:
	MBS issued by GSE		$	8,952	$	343	$	436	$	26	$	9,388	$	369
	States and political subdivisions			256		13		412		89		668		102
	Non-agency MBS			46		—		81		5		127		5
		Total	$	9,254	$	356	$	929	$	120	$	10,183	$	476

HTM securities:
	GSE securities		$	4,822	$	328	$	—	$	—	$	4,822	$	328
	MBS issued by GSE			5,984		61		8		—		5,992		61
	States and political subdivisions			20		1		2		—		22		1
		Total	$	10,826	$	390	$	10	$	—	$	10,836	$	390

			Less than 12 months				12 months or more				Total
			Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2012			Value		Losses		Value		Losses		Value		Losses
			(Dollars in millions)
AFS securities:
	MBS issued by GSE		$	2,662	$	18	$	—	$	—	$	2,662	$	18
	States and political subdivisions			52		1		478		89		530		90
	Non-agency MBS			—		—		113		11		113		11
		Total	$	2,714	$	19	$	591	$	100	$	3,305	$	119

HTM securities:
	GSE securities		$	805	$	1	$	—	$	—	$	805	$	1
	MBS issued by GSE			593		1		—		—		593		1
	States and political subdivisions			22		1		—		—		22		1
	Other securities			266		3		—		—		266		3
		Total	$	1,686	$	6	$	—	$	—	$	1,686	$	6