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Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis The following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:
June 30, 2021
(Dollars in millions)		TotalLevel 1Level 2Level 3Netting Adjustments (1)
Assets:    
Trading assets:
U.S. Treasury$1,827 $— $1,827 $— $— 
GSE213 — 213 — — 
Agency MBS - residential865 — 865 — — 
Agency MBS - commercial30 — 30 — — 
States and political subdivisions36 — 36 — — 
Corporate and other debt securities941 — 941 — — 
Loans1,748 — 1,748 — — 
Other285 247 38 — — 
Total trading assets5,945 247 5,698 — — 
AFS securities: 
U.S. Treasury9,688 — 9,688 — — 
GSE1,901 — 1,901 — — 
Agency MBS - residential124,097 — 124,097 — — 
Agency MBS - commercial3,183 — 3,183 — — 
States and political subdivisions472 — 472 — — 
Non-agency MBS507 — 507 — — 
Other31 — 31 — — 
Total AFS securities139,879 — 139,879 — — 
LHFS at fair value2,816 — 2,816 — — 
MSRs at fair value2,231 — — 2,231 — 
Other assets:
Derivative assets3,188 824 4,022 56 (1,714)
Equity securities912 848 64 — — 
Total assets$154,971 $1,919 $152,479 $2,287 $(1,714)
Liabilities:    
Derivative liabilities$574 $351 $3,199 $18 $(2,994)
Securities sold short1,213 20 1,193 — — 
Total liabilities$1,787 $371 $4,392 $18 $(2,994)
December 31, 2020
(Dollars in millions)		TotalLevel 1Level 2Level 3Netting Adjustments (1)
Assets:    
Trading assets:
U.S. Treasury$793 $— $793 $— $— 
GSE164 — 164 — — 
Agency MBS - residential599 — 599 — — 
Agency MBS - commercial21 — 21 — — 
States and political subdivisions34 — 34 — — 
Corporate and other debt securities545 — 545 — — 
Loans1,586 — 1,586 — — 
Other130 123 7 — — 
Total trading assets3,872 123 3,749 — — 
AFS securities:    
U.S. Treasury1,746 — 1,746 — — 
GSE1,917 — 1,917 — — 
Agency MBS - residential113,541 — 113,541 — — 
Agency MBS - commercial3,057 — 3,057 — — 
States and political subdivisions493 — 493 — — 
Other34 — 34 — — 
Total AFS securities120,788 — 120,788 — — 
LHFS at fair value4,955 — 4,955 — — 
MSRs at fair value2,023 — — 2,023 — 
Other assets:    
Derivative assets3,837 752 4,903 186 (2,004)
Equity securities1,054 996 58 — — 
Total assets$136,529 $1,871 $134,453 $2,209 $(2,004)
Liabilities:    
Derivative liabilities$555 $386 $3,263 $14 $(3,108)
Securities sold short1,115 3 1,112 — — 
Total liabilities$1,670 $389 $4,375 $14 $(3,108)
(1)Refer to “Note 15. Derivative Financial Instruments” for additional discussion on netting adjustments.
Rollforward of Level 3 Assets and Liabilities Activity for Level 3 assets and liabilities is summarized below:
Three Months Ended June 30, 2021 and 2020
(Dollars in millions)		Non-agency MBSMSRsNet DerivativesPrivate Equity Investments
Balance at April 1, 2020$298 $2,150 $143 $448 
Total realized and unrealized gains (losses):
Included in earnings303 (36)126 — 
Included in unrealized net holding gains (losses) in OCI(114)— — — 
Issuances— 144 271 — 
Sales(481)— — — 
Settlements(6)(181)(337)— 
Transfers out of level 3 and other— — — (448)
Balance at June 30, 2020$— $2,077 $203 $— 
Balance at April 1, 2021$— $2,365 $(10)$— 
Total realized and unrealized gains (losses):
Included in earnings— (192)81 — 
Purchases— 20 — — 
Issuances— 227 81 — 
Settlements— (189)(114)— 
Balance at June 30, 2021$— $2,231 $38 $— 
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2021$— $(174)$44 $— 
Six Months Ended June 30, 2021 and 2020
(Dollars in millions)		Non-agency MBSMSRsNet DerivativesPrivate Equity Investments
Balance at January 1, 2020$368 $2,618 $19 $440 
Total realized and unrealized gains (losses):   
Included in earnings306 (562)237 2 
Included in unrealized net holding gains (losses) in OCI(178)— — — 
Purchases— — — 27 
Issuances— 331 426 — 
Sales(481)— — — 
Settlements(15)(310)(479)(21)
Transfers out of level 3 and other— — — (448)
Balance at June 30, 2020$— $2,077 $203 $— 
Balance at January 1, 2021$— $2,023 $172 $— 
Total realized and unrealized gains (losses):
Included in earnings— 182 (83)— 
Purchases— 52 — — 
Issuances— 387 177 — 
Settlements— (413)(228)— 
Balance at June 30, 2021$— $2,231 $38 $— 
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2021$— $182 $44 $— 
Primary income statement location of realized gains (losses) included in earnings
Securities gains (losses)Residential mortgage income and Commercial real estate related incomeResidential mortgage income and Commercial real estate related incomeOther income
Fair Value and UPB of LHFS The following table details the fair value and UPB of LHFS that were elected to be measured at fair value. Trading loans, included in other trading assets, were also elected to be measured at fair value.
 June 30, 2021December 31, 2020
(Dollars in millions)Fair ValueUPBDifferenceFair ValueUPBDifference
Trading loans$1,748 $1,732 $16 $1,586 $1,619 $(33)
LHFS at fair value2,816 2,719 97 4,955 4,736 219 
Assets Measured at Fair Value on a Nonrecurring Basis
The following table provides information about certain assets measured at fair value on a nonrecurring basis still held as of period end. The carrying values represent end of period values, which approximate the fair value measurements that occurred on the various measurement dates throughout the period. These assets are considered to be Level 3 assets.
(Dollars in millions)Jun 30, 2021Dec 31, 2020
Carrying value:
LHFS$166 $979 
Loans and leases130 142 
Other119 92 

The following table provides information about valuation adjustments for certain assets measured at fair value on a nonrecurring basis. The valuation adjustments represent the amounts recorded during the period regardless of whether the asset is still held at period end.
Six Months Ended June 30,
(Dollars in millions)		20212020
Valuation adjustments:
LHFS$(26)$(55)
Loans and leases(32)(27)
Other(127)(133)
Carrying Amounts and Fair Value of Financial Assets and Liabilities Not Recorded at Fair Value Financial assets and liabilities not recorded at fair value are summarized below:
June 30, 2021December 31, 2020
(Dollars in millions)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Financial assets:    
Loans and leases HFI, net of ALLLLevel 3$281,364 $283,130 $293,899 $295,461 
Financial liabilities:  
Time depositsLevel 217,545 17,651 21,941 22,095 
Long-term debtLevel 237,969 38,682 39,597 40,864