Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Classifications and Hedging Relationships

Derivative Classifications and Hedging Relationships
		September 30, 2016								December 31, 2015
	Hedged Item or Transaction	Notional Amount		Fair Value						Notional Amount		Fair Value
				Gain			Loss					Gain			Loss
		(Dollars in millions)
Cash flow hedges:
Interest rate contracts:
Pay fixed swaps	3 mo. LIBOR funding	$	7,250	$	—		$	(414	)	$	9,300	$	—		$	(214	)
Fair value hedges:
Interest rate contracts:
Receive fixed swaps	Long-term debt	12,099		489			(2		)	13,092		329			(1		)
Option trades	Long-term debt	1,600		—			(1		)	—		—			—
Pay fixed swaps	Commercial loans	268		—			(5		)	207		—			(2		)
Pay fixed swaps	Municipal securities	230		—			(114		)	244		—			(94		)
Total		14,197		489			(122		)	13,543		329			(97		)
Not designated as hedges:
Client-related and other risk management:
Interest rate contracts:
Receive fixed swaps		9,890		502			—			8,827		337			(1		)
Pay fixed swaps		10,169		—			(539		)	8,984		1			(363		)
Other swaps		1,144		4			(7		)	1,005		3			(6		)
Other		792		1			(1		)	601		1			(2		)
Forward commitments		7,956		16			(14		)	4,403		5			(4		)
Foreign exchange contracts		567		3			(3		)	513		6			(4		)
Total		30,518		526			(564		)	24,333		353			(380		)
Mortgage banking:
Interest rate contracts:
Interest rate lock commitments		2,821		22			(2		)	1,828		8			(4		)
When issued securities, forward rate agreements and forward commitments		5,054		5			(20		)	2,725		9			(5		)
Other		566		6			—			677		4			—
Total		8,441		33			(22		)	5,230		21			(9		)
MSRs:
Interest rate contracts:
Receive fixed swaps		4,496		134			(1		)	2,343		79			(7		)
Pay fixed swaps		2,252		—			(46		)	2,329		4			(56		)
Option trades		4,080		79			(18		)	7,765		184			(24		)
When issued securities, forward rate agreements and forward commitments		3,165		6			—			2,682		—			(5		)
Other		149		—			—			—		—			—
Total		14,142		219			(65		)	15,119		267			(92		)
Total derivatives not designated as hedges		53,101		778			(651		)	44,682		641			(481		)
Total derivatives		$	74,548	1,267			(1,187		)	$	67,525	970			(792		)
Gross amounts not offset in the Consolidated Balance Sheets:
Amounts subject to master netting arrangements not offset due to policy election				(628		)	628					(391		)	391
Cash collateral (received) posted				(174		)	501					(283		)	368
Net amount				$	465		$	(58	)			$	296		$	(33	)

The Effect of Derivative Instruments on the Consolidated Statements of Income

The Effect of Derivative Instruments on the Consolidated Statements of Income
Three Months Ended September 30, 2016 and 2015
	Effective Portion
	Pre-tax Gain						Pre-tax Gain (Loss)
	(Loss) Recognized						Reclassified from
	in AOCI					Location of Amounts	AOCI into Income
	2016		2015			Reclassified from AOCI into Income	2016			2015
	(Dollars in millions)
Cash flow hedges:
Interest rate contracts	$	38	$	(168	)	Total interest expense	$	3		$	(21	)
							Pre-tax Gain
							(Loss) Recognized
						Location of Amounts	in Income
						Recognized in Income	2016			2015
							(Dollars in millions)
Fair value hedges:
Interest rate contracts						Total interest income	$	(5	)	$	(5	)
Interest rate contracts						Total interest expense	58			69
Total							$	53		$	64
Not designated as hedges:
Client-related and other risk management:
Interest rate contracts						Other noninterest income	$	15		$	3
Foreign exchange contracts						Other noninterest income	(1		)	7
Mortgage banking:
Interest rate contracts						Mortgage banking income	17			(21		)
MSRs:
Interest rate contracts						Mortgage banking income	3			94
Total							$	34		$	83

The Effect of Derivative Instruments on the Consolidated Statements of Income
Nine Months Ended September 30, 2016 and 2015
	Effective Portion
	Pre-tax Gain							Pre-tax Gain (Loss)
	(Loss) Recognized							Reclassified from
	in AOCI						Location of Amounts	AOCI into Income
	2016			2015			Reclassified from AOCI into Income	2016			2015
	(Dollars in millions)
Cash Flow Hedges:
Interest rate contracts	$	(245	)	$	(180	)	Total interest expense	$	(18	)	$	(63	)
								Pre-tax Gain
								(Loss) Recognized
							Location of Amounts	in Income
							Recognized in Income	2016			2015
								(Dollars in millions)
Fair Value Hedges:
Interest rate contracts							Total interest income	$	(13	)	$	(15	)
Interest rate contracts							Total interest expense	177			205
Total								$	164		$	190
Not Designated as Hedges:
Client-related and other risk management:
Interest rate contracts							Other noninterest income	$	23		$	15
Foreign exchange contracts							Other noninterest income	4			16
Mortgage Banking:
Interest rate contracts							Mortgage banking income	(2		)	(1		)
MSRs:
Interest rate contracts							Mortgage banking income	232			56
Total								$	257		$	86

Summary of Cash Flow and Fair Value Hedges

The following table presents information about BB&T's cash flow and fair value hedges:

	September 30, 2016				December 31, 2015
	(Dollars in millions)
Cash flow hedges:
Net unrecognized after-tax loss on active hedges recorded in AOCI	$	(260	)		$	(134	)
Net unrecognized after-tax gain on terminated hedges recorded in AOCI (to be recognized in earnings through 2022)	33				50
Estimated portion of net after-tax gain (loss) on active and terminated hedges to be reclassified from AOCI into earnings during the next 12 months	2				(7		)
Maximum time period over which BB&T has hedged a portion of the variability in future cash flows for forecasted transactions excluding those transactions relating to the payment of variable interest on existing instruments	6			yrs	7			yrs
Fair value hedges:
Unrecognized pre-tax net gain on terminated hedges (to be recognized as interest primarily through 2019)	$	185			$	138
Portion of pre-tax net gain on terminated hedges to be recognized as a change in interest during the next 12 months	60				57

Schedule of Derivative Instruments Summary of Collateral Positions with Counterparties

	September 30, 2016		December 31, 2015
	(Dollars in millions)
Dealer Counterparties:
Cash collateral received from dealer counterparties	$	181	$	283
Derivatives in a net gain position secured by that collateral	174		301
Unsecured positions in a net gain with dealer counterparties after collateral postings	—		18
Cash collateral posted to dealer counterparties	242		156
Derivatives in a net loss position secured by that collateral	262		161
Additional collateral that would have been posted had BB&T's credit ratings dropped below investment grade	25		6
Central Clearing Parties:
Cash collateral, including initial margin, posted to central clearing parties	265		223
Derivatives in a net loss position secured by that collateral	276		227
Securities pledged to central clearing parties	142		207