Carrying Amount of Assets and Liabilities of Variable Interest Entities |
The tables below present a summary of certain VIEs in which we had continuing involvement or held a variable interest, aggregated based on VIEs with similar characteristics as of December 31, 2017 and 2016. We separately present information for consolidated and unconsolidated VIEs. Table 6.1: Carrying Amount of Consolidated and Unconsolidated VIEs | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | Consolidated | | Unconsolidated | (Dollars in millions) | | Carrying Amount of Assets | | Carrying Amount of Liabilities | | Carrying Amount of Assets | | Carrying Amount of Liabilities | | Maximum Exposure to Loss | Securitization-Related VIEs: | | | | | | | | | | | Credit card loan securitizations(1) | | $ | 34,976 |
| | $ | 20,651 |
| | $ | 0 |
| | $ | 0 |
| | $ | 0 |
| Home loan securitizations | | 0 |
| | 0 |
| | 455 |
| | 390 |
| | 1,057 |
| Total securitization-related VIEs | | 34,976 |
| | 20,651 |
| | 455 |
| | 390 |
| | 1,057 |
| Other VIEs:(2) | | | | | | | | | | | Affordable housing entities | | 226 |
| | 10 |
| | 4,175 |
| | 1,284 |
| | 4,175 |
| Entities that provide capital to low-income and rural communities | | 1,498 |
| | 129 |
| | 0 |
| | 0 |
| | 0 |
| Other | | 0 |
| | 0 |
| | 318 |
| | 0 |
| | 318 |
| Total other VIEs | | 1,724 |
| | 139 |
| | 4,493 |
| | 1,284 |
| | 4,493 |
| Total VIEs | | $ | 36,700 |
| | $ | 20,790 |
| | $ | 4,948 |
| | $ | 1,674 |
| | $ | 5,550 |
|
| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | | Consolidated | | Unconsolidated | (Dollars in millions) | | Carrying Amount of Assets | | Carrying Amount of Liabilities | | Carrying Amount of Assets | | Carrying Amount of Liabilities | | Maximum Exposure to Loss | Securitization-Related VIEs: | | | | | | | | | | | Credit card loan securitizations(1) | | $ | 33,550 |
| | $ | 19,662 |
| | $ | 0 |
| | $ | 0 |
| | $ | 0 |
| Home loan securitizations | | 0 |
| | 0 |
| | 201 |
| | 27 |
| | 1,276 |
| Total securitization-related VIEs | | 33,550 |
| | 19,662 |
| | 201 |
| | 27 |
| | 1,276 |
| Other VIEs:(2) | | | | | | | | | | | Affordable housing entities | | 174 |
| | 9 |
| | 3,862 |
| | 1,093 |
| | 3,862 |
| Entities that provide capital to low-income and rural communities | | 927 |
| | 127 |
| | 0 |
| | 0 |
| | 0 |
| Other | | 0 |
| | 0 |
| | 187 |
| | 0 |
| | 187 |
| Total other VIEs | | 1,101 |
| | 136 |
| | 4,049 |
| | 1,093 |
| | 4,049 |
| Total VIEs | | $ | 34,651 |
| | $ | 19,798 |
| | $ | 4,250 |
| | $ | 1,120 |
| | $ | 5,325 |
|
__________ | | (1) | Represents the carrying amount of assets and liabilities owned by the VIE, which includes the seller’s interest and repurchased notes held by other related parties. |
| | (2) | In certain investment structures, we consolidate a VIE which in turn holds as its primary asset an investment in an unconsolidated VIE. In these instances, we disclose the carrying amount of assets and liabilities on our consolidated balance sheets in the unconsolidated VIEs to avoid duplicating our exposure, as the unconsolidated VIEs are generally the operating entities generating the exposure. The carrying amount of assets and liabilities included in the unconsolidated VIE columns above related to these investment structures were $2.2 billion of assets and $901 million of liabilities as of December 31, 2017 and $1.9 billion of assets and $618 million of liabilities as of December 31, 2016. |
|
External Debt and Receivable Balances of Securitization Programs |
The table below presents our continuing involvement in certain securitization-related VIEs as of December 31, 2017 and 2016. Table 6.2: Continuing Involvement in Securitization-Related VIEs | | | | | | | | | | | | | | | | | | | | | | Mortgage | (Dollars in millions) | | Credit Card | | Option- ARM | | GreenPoint HELOCs | | GreenPoint Manufactured Housing | December 31, 2017: | | | | | | | | | Securities held by third-party investors | | $ | 20,010 |
| | $ | 1,224 |
| | $ | 42 |
| | $ | 508 |
| Receivables in the trust | | 35,667 |
| | 1,266 |
| | 35 |
| | 511 |
| Cash balance of spread or reserve accounts | | 0 |
| | 8 |
| | N/A |
| | 116 |
| Retained interests | | Yes |
| | Yes |
| | Yes |
| | Yes |
| Servicing retained | | Yes |
| | Yes |
| | No |
| | No |
| December 31, 2016: | | | | | | | | | Securities held by third-party investors | | $ | 18,826 |
| | $ | 1,499 |
| | $ | 56 |
| | $ | 697 |
| Receivables in the trust | | 31,762 |
| | 1,549 |
| | 50 |
| | 702 |
| Cash balance of spread or reserve accounts | | 0 |
| | 8 |
| | N/A |
| | 130 |
| Retained interests | | Yes |
| | Yes |
| | Yes |
| | Yes |
| Servicing retained | | Yes |
| | Yes |
| | No |
| | No |
|
|