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Variable Interest Entities and Securitizations (Tables)
12 Months Ended
Dec. 31, 2017
Variable Interest Entities and Securitization [Abstract]  
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