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Fair Value Disclosures (Tables)
 3 Months Ended
Mar. 31, 2023
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:
March 31, 2023
(Dollars in millions)		TotalLevel 1Level 2Level 3
Netting Adjustments(1)
Assets:    
Trading assets:
U.S. Treasury$120 $— $120 $— $— 
GSE112 — 112 — — 
Agency MBS - residential797 — 797 — — 
States and political subdivisions293 — 293 — — 
Corporate and other debt securities1,118 — 1,118 — — 
Loans1,869 — 1,869 — — 
Other292 260 32 — — 
Total trading assets4,601 260 4,341 — — 
AFS securities: 
U.S. Treasury10,441 — 10,441 — — 
GSE301 — 301 — — 
Agency MBS - residential55,175 — 55,175 — — 
Agency MBS - commercial2,398 — 2,398 — — 
States and political subdivisions425 — 425 — — 
Non-agency MBS3,098 — 3,098 — — 
Other20 — 20 — — 
Total AFS securities71,858 — 71,858 — — 
LHFS at fair value1,911 — 1,911 — — 
Loans and leases17 — — 17 — 
Loan servicing rights at fair value3,303 — — 3,303 — 
Other assets:
Derivative assets692 625 1,816 13 (1,762)
Equity securities857 757 100 — — 
Total assets$83,239 $1,642 $80,026 $3,333 $(1,762)
Liabilities:    
Derivative liabilities$2,589 $394 $3,971 $31 $(1,807)
Securities sold short1,789 113 1,676 — — 
Total liabilities$4,378 $507 $5,647 $31 $(1,807)
December 31, 2022
(Dollars in millions)		TotalLevel 1Level 2Level 3
Netting Adjustments(1)
Assets:    
Trading assets:
U.S. Treasury$137 $— $137 $— $— 
GSE457 — 457 — — 
Agency MBS - residential804 — 804 — — 
Agency MBS - commercial62 — 62 — — 
States and political subdivisions422 — 422 — — 
Corporate and other debt securities761 — 761 — — 
Loans1,960 — 1,960 — — 
Other302 261 41 — — 
Total trading assets4,905 261 4,644 — — 
AFS securities:    
U.S. Treasury10,295 — 10,295 — — 
GSE303 — 303 — — 
Agency MBS - residential55,225 — 55,225 — — 
Agency MBS - commercial2,424 — 2,424 — — 
States and political subdivisions416 — 416 — — 
Non-agency MBS3,117 — 3,117 — — 
Other21 — 21 — — 
Total AFS securities71,801 — 71,801 — — 
LHFS at fair value1,065 — 1,065 — — 
Loans and leases18 — — 18 — 
Loan servicing rights at fair value3,758 — — 3,758 — 
Other assets:    
Derivative assets684 472 1,980 1 (1,769)
Equity securities898 796 102 — — 
Total assets$83,129 $1,529 $79,592 $3,777 $(1,769)
Liabilities:    
Derivative liabilities$2,971 $364 $4,348 $37 $(1,778)
Securities sold short1,551 114 1,437 — — 
Total liabilities$4,522 $478 $5,785 $37 $(1,778)
(1)Refer to “Note 16. 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 March 31, 2023 and 2022
(Dollars in millions)		Loans and LeasesLoan Servicing RightsNet Derivatives
Balance at January 1, 2022$23 $2,633 $(12)
Total realized and unrealized gains (losses):
Included in earnings— 357 (170)
Issuances— 158 17 
Settlements— (135)91 
Transfers out of level 3 and other(2)— — 
Balance at March 31, 2022$21 $3,013 $(74)
Balance at January 1, 2023$18 $3,758 $(36)
Total realized and unrealized gains (losses):
Included in earnings— (5)(2)
Issuances— 48 (2)
Sales— (428)— 
Settlements(1)(70)22 
Balance at March 31, 2023$17 $3,303 $(18)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at March 31, 2023$— $(54)$(5)
Fair Value and UPB of LHFS The following table details the fair value and UPB of certain loans that were elected to be measured at fair value:
 March 31, 2023December 31, 2022
(Dollars in millions)Fair ValueUPBDifferenceFair ValueUPBDifference
Trading loans$1,869 $1,989 $(120)$1,960 $2,101 $(141)
Loans and leases17 19 (2)18 20 (2)
LHFS at fair value1,911 1,883 28 1,065 1,056 9 
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)Mar 31, 2023Dec 31, 2022
Carrying value:
LHFS$127 $271 
Loans and leases434 500 
Other98 120 

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.
Three Months Ended March 31,
(Dollars in millions)20232022
Valuation adjustments:
LHFS$— $(3)
Loans and leases(166)(97)
Other(1)
(44)(29)
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:
March 31, 2023December 31, 2022
(Dollars in millions)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Financial assets:
HTM securitiesLevel 2$56,932 $48,097 $57,713 $47,791 
Loans and leases HFI, net of ALLLLevel 3323,177 312,107 321,596 308,738 
Financial liabilities:  
Time depositsLevel 232,326 32,140 23,474 23,383 
Long-term debtLevel 269,895 65,114 43,203 40,951