SUNTRUST BANKS INC, 10-Q filed on 10/31/2019
Quarterly Report
v3.19.3
Document and Entity Information - $ / shares
 9 Months Ended
Sep. 30, 2019
Oct. 28, 2019
Dec. 31, 2018
Entity Registrant Name SunTrust Banks, Inc.    
Entity Central Index Key 0000750556    
Document Type 10-Q    
Document Quarterly Report true    
Document Transition Report false    
Document Period End Date Sep. 30, 2019    
Entity File Number 001-08918    
Entity Incorporation, State or Country Code GA    
Entity Tax Identification Number 58-1575035    
Entity Address, Address Line One 303 Peachtree Street, N.E.    
Entity Address, City or Town Atlanta    
Entity Address, State or Province GA    
Entity Address, Postal Zip Code 30308    
City Area Code (800)    
Local Phone Number 786-8787    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2019    
Document Fiscal Period Focus Q3    
Amendment Flag false    
Entity Common Stock, Shares Outstanding   444,039,931  
Common Stock, Par or Stated Value Per Share $ 1.00   $ 1.00
NEW YORK STOCK EXCHANGE, INC. [Member]      
Title of 12(b) Security Common Stock    
Trading Symbol STI    
Security Exchange Name NYSE    
Preferred Class A [Member] | NEW YORK STOCK EXCHANGE, INC. [Member]      
Title of 12(b) Security [1] Perpetual Preferred Stock, Series A    
Trading Symbol STI PRA    
Security Exchange Name NYSE    
Preferred Class B [Member] | NEW YORK STOCK EXCHANGE, INC. [Member]      
Title of 12(b) Security [2] Perpetual Preferred Stock, Series B    
Trading Symbol STI/PRI    
Security Exchange Name NYSE    
[1] Depositary Shares, Each Representing a 1/4000th Interest in a Share of Perpetual Preferred Stock, Series A.
[2] 5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities of SunTrust Preferred Capital I (representing interests in shares of Perpetual Preferred Stock, Series B).
v3.19.3
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Interest and Fee Income, Loans and Leases Held-in-portfolio $ 1,708 $ 1,549 $ 5,125 $ 4,424
Interest and fees on loans held for sale 21 22 50 67
Interest and Dividend Income, Securities, Available-for-sale 215 212 659 628
Trading account interest and other 61 51 179 142
Total interest income 2,005 1,834 6,013 5,261
Interest Expense        
Interest Expense, Deposits 293 193 811 484
Interest Expense, Long-term Debt 150 95 425 252
Interest on other borrowings 52 34 188 85
Total interest expense 495 322 1,424 821
Net, interest income 1,510 1,512 4,589 4,440
Provision for Loan, Lease, and Other Losses 132 [1] 61 [2] 412 [3] 121 [4]
Interest Income (Expense), after Provision for Loan Loss 1,378 1,451 4,177 4,319
Noninterest Income        
Service charges on deposit accounts 141 144 417 433
Other charges and fees 90 89 265 264
Card fees 83 75 247 241
Investment Banking Revenue 159 150 431 453
Trading Gain (Loss) 29 42 144 137
Gain (Loss) Related to Litigation Settlement 5 0 210 0
Mortgage Related Income [5] 106 83 294 256
Trust and investment management income 78 80 222 230
Retail investment services 76 74 220 219
Commercial Real Estate Related Income 32 24 106 66
Debt and Equity Securities, Gain (Loss) 4 0 (38) 1
Noninterest Income, Other Operating Income 40 21 135 108
Noninterest Income 843 782 2,653 2,408
Noninterest Expense        
Employee compensation 744 719 2,149 2,141
Other Labor-related Expenses 97 76 344 310
Outside processing and software 241 234 720 667
Charitable contribution to the SunTrust Foundation 0 0 205 0
Net occupancy expense 102 86 305 270
Merger-Related Costs 22 0 75 0
Marketing and Advertising Expense 44 45 131 127
Equipment Expense 36 40 114 124
Federal Deposit Insurance Corporation Premium Expense 17 39 53 118
Operating losses 23 18 60 40
Amortization 21 19 54 51
Other Noninterest Expense 127 108 392 343
Noninterest Expense 1,474 1,384 4,602 4,191
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest 747 849 2,228 2,536
Income Tax Expense (Benefit) 122 95 330 412
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 625 754 1,898 2,124
Net Income (Loss) Attributable to Noncontrolling Interest 2 2 7 7
Net Income (Loss) Attributable to Parent 623 752 1,891 2,117
Preferred Stock Dividends and Other Adjustments 26 26 77 81
Net Income (Loss) Available to Common Stockholders, Basic $ 597 $ 726 $ 1,814 $ 2,036
Earnings Per Share, Diluted $ 1.34 $ 1.56 $ 4.06 $ 4.34
Earnings Per Share, Basic 1.35 1.58 4.09 4.38
Common Stock, Dividends, Per Share, Declared $ 0.56 $ 0.50 $ 1.56 $ 1.30
Weighted Average Number of Shares Outstanding, Diluted 446,962 464,164 446,673 469,006
Weighted Average Number of Shares Outstanding, Basic 443,960 460,252 443,779 464,804
[1] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[2]
Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[3] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[4] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[5] Beginning with the 2018 Form 10-K, the Company began presenting Mortgage production related income and Mortgage servicing related income as a single line item on the Consolidated Statements of Income titled Mortgage-related income. Prior periods have been conformed to this updated presentation for comparability.
v3.19.3
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Statement of Comprehensive Income [Abstract]        
Net Income (Loss) Attributable to Parent $ 623 $ 752 $ 1,891 $ 2,117
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax 166 (178) 960 (726)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 82 (20) 302 (179)
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax 0 0 (1) 0
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax 0 0 0 3
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax 4 3 10 2
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 252 (195) 1,271 (900)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $ 875 $ 557 $ 3,162 $ 1,217
v3.19.3
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Statement of Comprehensive Income [Abstract]        
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax $ 51 $ (55) $ 294 $ (223)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax 25 (6) 93 (55)
Other Comprehensive Income (Loss), Brokered Time Deposits, Tax 0 0 0 0
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Tax 0 0 0 1
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax $ 1 $ 1 $ 4 $ 1
v3.19.3
Consolidated Balance Sheets - USD ($)
shares in Thousands, $ in Millions
Sep. 30, 2019
Dec. 31, 2018
Assets    
Cash and Due from Banks $ 7,844 $ 5,791
Federal Funds Sold and Securities Purchased under Agreements to Resell 1,314 1,679
Interest-bearing Deposits in Banks and Other Financial Institutions 26 25
Cash and cash equivalents 9,184 7,495
Debt Securities, Trading, and Equity Securities, FV-NI [1] 7,104 5,506
Available-for-sale Securities [2] 31,358 31,442
Loans Held for Sale [3] 2,006 1,468
Loans and Leases Receivable, Gross [4] 158,455 151,839
Loans and Leases Receivable, Allowance (1,699) (1,615)
Net loans 156,756 150,224
Property, Plant and Equipment, Net 1,985 2,024
Goodwill 6,331 6,331
Intangible Assets, Net (Excluding Goodwill) 1,648 2,062
Other Assets 10,996 8,991
Total assets 227,368 215,543
Liabilities and Shareholders' Equity    
Noninterest-bearing consumer and commercial deposits 40,360 40,770
Interest-bearing Deposit Liabilities 127,311 121,819
Total deposits 167,671 162,589
Federal Funds Purchased 254 2,141
Securities Sold under Agreements to Repurchase 1,829 1,774
Other Short-term Borrowings 5,061 4,857
Long-term Debt [5] 20,369 15,072
Trading liabilities 1,380 1,604
Other Liabilities 4,315 3,226
Total liabilities 200,879 191,263
Preferred Stock, Value, Outstanding 2,025 2,025
Common Stock, Value, Outstanding 553 553
Additional Paid in Capital 8,989 9,022
Retained earnings 20,664 19,522
Treasury Stock, Value [6] (5,593) (5,422)
Accumulated Other Comprehensive Income (Loss), Net of Tax (149) (1,420)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 26,489 24,280
Liabilities and Equity $ 227,368 $ 215,543
Common Stock, Shares, Outstanding [7] 444,033 446,888
Common shares authorized 750,000 750,000
Preferred Stock, Shares Outstanding 20 20
Preferred Stock, Shares Authorized 50,000 50,000
Treasury shares of common stock 108,750 105,896
Treasury Stock and Other    
Liabilities and Shareholders' Equity    
Treasury Stock, Value $ (5,693)  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [8] (5,593) $ (5,422)
Stockholders' Equity Attributable to Noncontrolling Interest 101 103
Variable Interest Entity, Primary Beneficiary [Member]    
Assets    
Loans and Leases Receivable, Gross 136 153
Liabilities and Shareholders' Equity    
Long-term Debt $ 143 $ 161
Restricted Stock [Member]    
Liabilities and Shareholders' Equity    
Common Stock, Shares, Outstanding 4 7
Trading Assets [Member]    
Liabilities and Shareholders' Equity    
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value $ 1,284 $ 1,442
Available-for-sale Securities [Member]    
Liabilities and Shareholders' Equity    
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value 151 222
Fair Value, Recurring [Member]    
Assets    
Debt Securities, Trading, and Equity Securities, FV-NI 7,104 5,506
Available-for-sale Securities $ 31,358 $ 31,442
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively.
[3] Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018, respectively.
[4] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[5] Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively.
[6] Includes noncontrolling interest of $101 million and $103 million at September 30, 2019 and December 31, 2018, respectively.
[7] Includes restricted shares of 4 thousand and 7 thousand at September 30, 2019 and December 31, 2018, respectively.
[8] At September 30, 2019, includes ($5,693) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.
v3.19.3
Consolidated Balance Sheets (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Sep. 30, 2019
Dec. 31, 2018
Loans Receivable, Fair Value Disclosure $ 124 $ 163
Common stock, par value $ 1.00 $ 1.00
Loans and Leases Receivable, Gross [1] $ 158,455 $ 151,839
Long-term Debt [2] $ 20,369 $ 15,072
Common Stock, Shares, Outstanding [3] 444,033 446,888
Variable Interest Entity, Primary Beneficiary [Member]    
Loans and Leases Receivable, Gross $ 136 $ 153
Long-term Debt 143 161
Treasury Stock and Other    
Stockholders' Equity Attributable to Noncontrolling Interest $ 101 $ 103
Restricted Stock [Member]    
Common Stock, Shares, Outstanding 4 7
Available-for-sale Securities [Member]    
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value $ 151 $ 222
Fair Value, Recurring [Member]    
Debt Securities, Held-to-maturity, Fair Value 0 0
Loans Held-for-sale, Fair Value Disclosure 1,488 1,200
Loans Receivable, Fair Value Disclosure 124 163
Servicing Asset at Fair Value, Amount 1,564  
Other Assets, Fair Value Disclosure 76 95
Long-term Debt, Fair Value 302 289
Brokered Time Deposits [Member] | Fair Value, Recurring [Member]    
Deposits, Fair Value Disclosure $ 552 $ 403
[1] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively.
[3] Includes restricted shares of 4 thousand and 7 thousand at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Consolidated Statements of Shareholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Treasury Stock and Other
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding     471,000        
Total shareholders' equity at Dec. 31, 2017 $ 25,154 $ 2,475 $ 550 $ 9,000 $ 17,540 $ (3,591) [1] $ (820)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [2] (10)       144   (154) [3]
Net Income (Loss) Attributable to Parent 2,117       2,117    
Other Comprehensive Income (Loss), Net of Tax (900)           (900)
Noncontrolling Interest, Period Increase (Decrease) (2)         (2) [1]  
Dividends, Common Stock, Cash (603)       (603)    
Dividends, Preferred Stock, Cash [4] (81)       (81)    
Stock Redeemed or Called During Period, Value (450) (450)          
Treasury Stock, Shares, Acquired     (17,000)        
Treasury Stock, Value, Acquired, Cost Method (1,160)         (1,160) [1]  
Stock Issued During Period, Value, Stock Options Exercised 36         36 [1]  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period     1,000        
Stock Issued During Period, Shares, Other     3,000        
Stock Issued During Period, Value, Other 0   $ 3 (3)      
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures     1,000        
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures 38     4 (6) 40 [1]  
Total shareholders' equity at Sep. 30, 2018 24,139 2,025 $ 553 9,001 19,111 (4,677) [1] (1,874)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding     465,000        
Total shareholders' equity at Jun. 30, 2018 24,316 2,025 $ 552 8,980 18,616 (4,178) [1] (1,679)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income (Loss) Attributable to Parent 752       752    
Other Comprehensive Income (Loss), Net of Tax (195)           (195)
Noncontrolling Interest, Period Increase (Decrease) (2)         (2) [1]  
Dividends, Common Stock, Cash (229)       (229)    
Dividends, Preferred Stock, Cash [4] (26)       (26)    
Treasury Stock, Shares, Acquired     (7,000)        
Treasury Stock, Value, Acquired, Cost Method (500)         (500) [1]  
Stock Issued During Period, Value, Stock Options Exercised 2     (1)   3 [1]  
Stock Issued During Period, Shares, Other     1,000        
Stock Issued During Period, Value, Other 1   $ 1        
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures 20     22 (2)    
Total shareholders' equity at Sep. 30, 2018 $ 24,139 2,025 $ 553 9,001 19,111 (4,677) [1] (1,874)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding     459,000        
Common Stock, Shares, Outstanding 446,888 [5]   447,000        
Total shareholders' equity at Dec. 31, 2018 $ 24,280 2,025 $ 553 9,022 19,522 (5,422) [6] (1,420)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [7] 31       31    
Net Income (Loss) Attributable to Parent 1,891       1,891    
Other Comprehensive Income (Loss), Net of Tax 1,271           1,271
Noncontrolling Interest, Period Increase (Decrease) (2)         (2) [6]  
Dividends, Common Stock, Cash (693)       (693)    
Dividends, Preferred Stock, Cash [8] (77)       (77)    
Treasury Stock, Shares, Acquired     (5,000)        
Treasury Stock, Value, Acquired, Cost Method (250)         (250) [6]  
Stock Issued During Period, Value, Stock Options Exercised 7     (7)   14 [6]  
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures     2,000        
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures 31     (26) (10) 67 [6]  
Total shareholders' equity at Sep. 30, 2019 26,489 2,025 $ 553 8,989 20,664 (5,593) [6] (149)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding     444,000        
Total shareholders' equity at Jun. 30, 2019 25,862 2,025 $ 553 8,965 20,319 (5,599) [6] (401)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income (Loss) Attributable to Parent 623       623    
Other Comprehensive Income (Loss), Net of Tax 252           252
Noncontrolling Interest, Period Increase (Decrease) (2)         (2) [6]  
Dividends, Common Stock, Cash (249)       (249)    
Dividends, Preferred Stock, Cash [8] (26)       (26)    
Stock Issued During Period, Value, Stock Options Exercised 2     (3)   5 [6]  
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures 27     27 (3) 3 [6]  
Total shareholders' equity at Sep. 30, 2019 $ 26,489 $ 2,025 $ 553 $ 8,989 $ 20,664 $ (5,593) [6] $ (149)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding 444,033 [5]   444,000        
[1] At September 30, 2018, includes ($4,777) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest
[2] Related to the Company’s adoption of ASU 2014-09, ASU 2016-01, ASU 2017-12, and ASU 2018-02 on January 1, 2018. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information.
[3]
Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information.
[4] For the three months ended September 30, 2018, dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock.
For the nine months ended September 30, 2018, dividends were $3,044.44 per share for both Series A and B Preferred Stock, $1,468.75 per share for Series E Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $4,285.07 per share for Series H Preferred Stock.
[5] Includes restricted shares of 4 thousand and 7 thousand at September 30, 2019 and December 31, 2018, respectively.
[6] At September 30, 2019, includes ($5,693) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.
[7] Related to the Company’s adoption of ASU 2016-02 on January 1, 2019. See Note 1, “Significant Accounting Policies,” for additional information.
[8] For the three months ended September 30, 2019, dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock.
For the nine months ended September 30, 2019, dividends were $3,044.44 per share for both Series A and B Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $3,843.75 per share for Series H Preferred Stock.
v3.19.3
Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Treasury Stock, Value [1] $ (5,593)   $ (5,593)   $ (5,422)
Common stock dividends, per share $ 0.56 $ 0.50 $ 1.56 $ 1.30  
Treasury Stock and Other          
Treasury Stock, Value $ (5,693) $ (4,777) $ (5,693) $ (4,777)  
Deferred Compensation Equity (1) (1) (1) (1)  
Stockholders' Equity Attributable to Noncontrolling Interest $ 101 $ 101 $ 101 $ 101 $ 103
Series A Preferred Stock [Member]          
Preferred Stock, Dividends, Per Share, Cash Paid $ 1,022.22 $ 1,022.22 $ 3,044.44 $ 3,044.44  
Series B Preferred Stock [Member]          
Preferred Stock, Dividends, Per Share, Cash Paid 1,022.22 1,022.22 3,044.44 3,044.44  
Series E Preferred Stock [Member]          
Preferred Stock, Dividends, Per Share, Cash Paid       1,468.75  
Series F Preferred Stock [Member]          
Preferred Stock, Dividends, Per Share, Cash Paid 1,406.25 1,406.25 4,218.75 4,218.75  
Series G Preferred Stock [Member]          
Preferred Stock, Dividends, Per Share, Cash Paid 1,262.50 1,262.50 3,787.50 3,787.50  
Series H Preferred Stock [Member]          
Preferred Stock, Dividends, Per Share, Cash Paid $ 1,281.25 $ 1,281.25 $ 3,843.75 $ 4,285.07  
[1] Includes noncontrolling interest of $101 million and $103 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 1,898 $ 2,124
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation, Amortization and Accretion, Net 518 535
Payments to Acquire Mortgage Servicing Rights (MSR) (251) (260)
Provisions For Credit Losses And Foreclosed Properties 418 130
Stock Option Compensation And Amortization Of Restricted Stock Compensation 112 118
Debt and Equity Securities, Gain (Loss) 38 (1)
Gain (Loss) on Sale of Loans, Leases, and Other Assets (266) (83)
Net decrease/(increase) in loans held for sale (315) 382
Net decrease/(increase) in Debt Securities, Trading, and Equity Securities, FV-NI (1,598) (818)
Net decrease/(increase) in other assets [1] (382) (1,713)
Net increase/(decrease) in Other Operating Liabilities (166) 478
Net cash provided by (used in) operating activities 6 892
Cash Flows from Investing Activities:    
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale 3,316 2,840
Proceeds from Sale of Available-for-sale Securities 3,690 2,047
Payments to Acquire Available-for-sale Securities (5,824) (5,534)
Proceeds from (payments for) Originations and Purchases of Loans and Leases Held-for-investment [1] 7,957 4,566
Proceeds from Sale of Loans Held-for-investment 866 199
Payments for (Proceeds from) Mortgage Servicing Rights (3) (73)
Payment to Acquire Life Insurance Policy, Investing Activities (1) (201)
Proceeds from Life Insurance Policy 17 8
Proceeds from Insurance Settlement, Investing Activities 210 0
Capital expenditures (261) (170)
Proceeds from Sale of Other Real Estate 88 148
Payments for (Proceeds from) Other Investing Activities 2 1
Net Cash Provided by (Used in) Investing Activities (5,857) (5,301)
Cash Flows from Financing Activities:    
Net (decrease)/increase in total deposits 5,082 (402)
Net increase/(decrease) in funds purchased, securities sold under agreements to repurchase, and other short-term borrowings (1,628) 3,159
Proceeds from Issuance of Long-term Debt 5,992 5,111
Repayment of long-term debt (864) (484)
Payments for Repurchase of Preferred Stock and Preference Stock 0 (450)
Payments for Repurchase of Common Stock (250) (1,160)
Common and preferred dividends paid (747) (664)
Payment, Tax Withholding, Share-based Payment Arrangement (52) (44)
Proceeds from the exercise of stock options 7 36
Net Cash Provided by (Used in) Financing Activities 7,540 5,102
Cash and Cash Equivalents, Period Increase (Decrease) 1,689 693
Cash and cash equivalents 7,495 6,912
Cash and cash equivalents 9,184 7,605
Supplemental Disclosures:    
Transfer of Loans Held-for-sale to Portfolio Loans 17 23
Transfer of Portfolio Loans and Leases to Held-for-sale 812 449
Transfer to Other Real Estate 33 44
Non-cash impact of debt acquired by purchaser in leverage lease sale 163 $ 0
Interest Received from Sales-Type and Direct Financing Leases $ 106  
[1] Pursuant to the Company’s adoption of ASU 2016-02 on January 1, 2019, it began including the interest portion of lessee payments received from sales-type and direct financing leases, which totaled $106 million for the nine months ended September 30, 2019, within operating activities, with the principal portion of lessee payments remaining within investing activities. For periods prior to January 1, 2019, interest payments were not retrospectively reclassified and remain within investing activities. See Note 1, “Significant Accounting Policies,” for additional information.
v3.19.3
Significant Accounting Policies
 9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Basis of Presentation
The unaudited Consolidated Financial Statements included within this report have been prepared in accordance with U.S. GAAP to present interim financial statement information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete, consolidated financial statements. However, in the opinion of management, all adjustments, consisting only of normal recurring adjustments that are necessary for a fair presentation of the results of operations in these financial statements, have been made.
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes; actual results could vary from these estimates. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. Interim Consolidated Financial Statements should be read in conjunction with the Company’s 2018 Annual Report on Form 10-K.
Changes in Significant Accounting Policies
Pursuant to the Company’s adoption of ASC Topic 842 as of January 1, 2019, the Company updated its accounting policy related to leases. See Note 10, “Leases,” for new disclosures and policy information related to the Company’s leases. There were no other significant changes to the Company’s accounting policies from those disclosed in the Company’s 2018 Annual Report on Form 10-K that could have a material effect on the Company's financial statements.
Subsequent Events
The Company evaluated events that occurred between September 30, 2019 and the date the accompanying financial statements were issued, and there were no material events, other than those already discussed in this Form 10-Q, that would require recognition in the Company’s Consolidated Financial Statements or disclosure in the accompanying Notes.

Accounting Pronouncements
The following table summarizes ASUs issued by the FASB that were adopted during the nine months ended September 30, 2019 or not yet adopted as of September 30, 2019, that could have a material effect on the Company’s financial statements:
Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Adopted in 2019
ASU 2016-02, Leases (Topic 842) and subsequent related ASUs
These ASUs create and amend ASC Topic 842, Leases, which supersedes ASC Topic 840, Leases. ASC Topic 842 requires lessees to recognize right-of-use assets and associated liabilities that arise from leases, with the exception of short-term leases. These ASUs do not make significant changes to lessor accounting; however, there were certain improvements made to align lessor accounting with the lessee accounting model and ASC Topic 606, Revenue from Contracts with Customers. Furthermore, there are several new qualitative and quantitative disclosures required for lessees and lessors, including updated guidance around the presentation of certain cash receipts on the Company’s Consolidated Statements of Cash Flows.

January 1, 2019
The Company adopted these ASUs on January 1, 2019, using a modified retrospective transition approach as of the date of adoption, which resulted in the recognition of $1.2 billion and $1.3 billion in right-of-use assets and associated lease liabilities, respectively, arising from operating leases in which the Company is the lessee, on the Company's Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption was based primarily on the present value of unpaid future minimum lease payments, the amount of which was based on the population of leases in effect at the date of adoption. At September 30, 2019, right-of-use assets and lease liabilities recorded on the Company’s Consolidated Balance Sheets totaled $1.1 billion and $1.2 billion, respectively.
 
Upon adoption, the Company also recognized a cumulative effect adjustment of $31 million to increase the beginning balance of retained earnings (as of January 1, 2019) for deferred gains on sale-leaseback transactions that occurred prior to the date of adoption and for other transition provisions. These ASUs did not have a material impact on the timing of expense or income recognition in the Company’s Consolidated Statements of Income.

Furthermore, effective January 1, 2019, the Company prospectively changed its presentation of certain cash receipts related to sales-type and direct financing leases in which it is the lessor on its Consolidated Statements of Cash Flows. Specifically, the Company began including on its Consolidated Statements of Cash Flows the interest portion of lessee payments received from sales-type and direct financing leases within operating activities, with the principal portion remaining within investing activities. For periods prior to the date of adoption, interest payments were not retrospectively reclassified and remain within investing activities. For the three and nine months ended September 30, 2019, the Company included $36 million and $106 million, respectively, of interest payments received from these sales-type and direct financing leases within operating activities on its Consolidated Statements of Cash Flows.

For additional information and required disclosures related to ASC 842, see Note 10, “Leases.”


Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Not Yet Adopted
ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) and subsequent related ASUs
These ASUs create and amend ASC Topic 326, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology with a current expected credit loss methodology for financial instruments measured at amortized cost and other commitments to extend credit. For this purpose, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of voluntary prepayments and considering available information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is deducted from the amortized cost basis of the financial assets to reflect the net amount expected to be collected on the financial assets. Additional quantitative and qualitative disclosures are required upon adoption. The change to the allowance for credit losses at the time of the adoption will be made with a cumulative effect adjustment to retained earnings.

Although the current expected credit loss methodology does not apply to AFS debt securities, these ASUs do require entities to record an allowance when recognizing credit losses for AFS securities, rather than recording a direct write-down of the carrying amount.

January 1, 2020
The Company formed a cross-functional team to oversee the implementation of these ASUs. A detailed implementation plan was developed and progress is substantially complete in regards to the identification and staging of data, development and validation of models, refinement of economic forecasting processes, and documentation of accounting policy decisions. Additionally, a new credit loss forecasting process was implemented in the first half of 2019, resulting in modifications to the Company’s associated internal control environment that will be effective upon adoption of these ASUs. In the first half of 2019, the Company performed testing in which methodologies, processes, and internal controls were evaluated and refined. The Company performed a full parallel run of the new methodology in the third quarter of 2019 and will perform another full parallel run in the fourth quarter of 2019. The parallel runs include execution of internal controls, supporting analytics, reserve estimation, process and procedure documentation, and subject matter expert reviews. The Company continues to refine its processes and methodology based on the results of these exercises.

The Company plans to adopt these ASUs on January 1, 2020, and it continues to evaluate the impact that these ASUs will have on its Consolidated Financial Statements and related disclosures. The Company anticipates that an increase to the allowance for credit losses will be recognized upon adoption to provide for the expected credit losses over the estimated life of the financial assets. The actual magnitude of the increase will depend on existing and forecasted economic conditions and trends in the Company’s portfolio at the time of adoption. The Company is also evaluating the anticipated impact that the Merger will have on its estimated impact of adopting these ASUs on its Consolidated Financial Statements.

ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This ASU amends ASC Topic 350, Intangibles - Goodwill and Other, to simplify the subsequent measurement of goodwill, by eliminating Step 2 from the goodwill impairment test. The amendments require an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. This ASU requires an entity to recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, with the loss limited to the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis.

January 1, 2020

Based on the Company’s most recent qualitative goodwill impairment assessment performed in the third quarter of 2019, there were no reporting units for which it was more-likely-than-not that the carrying amount of a reporting unit exceeded its respective fair value; therefore, this ASU would not currently have an impact on the Company’s Consolidated Financial Statements or related disclosures. However, if subsequent to adoption, the carrying amount of a reporting unit exceeds its respective fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value.
ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

This ASU amends ASC Subtopic 350-40, Intangibles - Goodwill and Other - Internal-Use Software, to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company may apply this ASU either retrospectively, or prospectively to all implementation costs incurred after the date of adoption.

January 1, 2020


The Company’s current accounting policy for capitalizing implementation costs incurred in a hosting arrangement generally aligns with the requirements of this ASU; therefore, the Company's adoption of this ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements or related disclosures.


v3.19.3
Revenue Recognition (Notes)
 9 Months Ended
Sep. 30, 2019
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
NOTE 2 – REVENUE RECOGNITION
The following tables reflect the Company’s noninterest income disaggregated by financial statement line item, business segment, and by the amount of each revenue stream that is in scope and out of scope of ASC Topic 606, Revenue from Contracts with Customers. Refer to Note 1, “Significant Accounting Policies,” and Note 2, “Revenue Recognition,” to
the Company's 2018 Annual Report on Form 10-K, for the Company's accounting policies for recognizing noninterest income, including the nature and timing of such revenue streams. The Company's contracts with customers generally do not contain terms that require significant judgment to determine the amount of revenue to recognize.
 
Three Months Ended September 30, 2019
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$112

 

$29

 

$—

 

$141

Other charges and fees 3
27

 
4

 
59

 
90

Card fees
57

 
24

 
2

 
83

Investment banking income
—

 
97

 
62

 
159

Trading income
—

 
—

 
29

 
29

Mortgage-related income
—

 
—

 
106

 
106

Trust and investment management income
77

 
—

 
1

 
78

Retail investment services 4
76

 
—

 
—

 
76

Insurance settlement
—

 
—

 
5

 
5

Commercial real estate-related income
—

 
—

 
32

 
32

Net securities gains/(losses)
—

 
—

 
4

 
4

Other noninterest income
6

 
—

 
34

 
40

Total noninterest income

$355

 

$154

 

$334

 

$843


1 
Consumer total noninterest income and Wholesale total noninterest income exclude $124 million and $214 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($4) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.

 
Three Months Ended September 30, 2018
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$111

 

$33

 

$—

 

$144

Other charges and fees 3
28

 
3

 
58

 
89

Card fees
49

 
26

 
—

 
75

Investment banking income
—

 
101

 
49

 
150

Trading income
—

 
—

 
42

 
42

Mortgage-related income
—

 
—

 
83

 
83

Trust and investment management income
79

 
—

 
1

 
80

Retail investment services 4
73

 
—

 
1

 
74

Insurance settlement
—

 
—

 
—

 
—

Commercial real estate-related income
—

 
—

 
24

 
24

Net securities gains/(losses)
—

 
—

 
—

 
—

Other noninterest income
5

 
—

 
16

 
21

Total noninterest income

$345

 

$163

 

$274

 

$782

1 
Consumer total noninterest income and Wholesale total noninterest income exclude $99 million and $205 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($30) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.


 
Nine Months Ended September 30, 2019
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$324

 

$93

 

$—

 

$417

Other charges and fees 3
82

 
12

 
171

 
265

Card fees
168

 
75

 
4

 
247

Investment banking income
—

 
261

 
170

 
431

Trading income
—

 
—

 
144

 
144

Mortgage-related income
—

 
—

 
294

 
294

Trust and investment management income
220

 
—

 
2

 
222

Retail investment services 4
218

 
1

 
1

 
220

Insurance settlement
—

 
—

 
210

 
210

Commercial real estate-related income
—

 
—

 
106

 
106

Net securities gains/(losses)
—

 
—

 
(38
)
 
(38
)
Other noninterest income
17

 
—

 
118

 
135

Total noninterest income

$1,029

 

$442

 

$1,182

 

$2,653


1 
Consumer total noninterest income and Wholesale total noninterest income exclude $386 million and $695 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes $101 million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $31 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.

 
Nine Months Ended September 30, 2018
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$330

 

$103

 

$—

 

$433

Other charges and fees 3
85

 
8

 
171

 
264

Card fees
160

 
78

 
3

 
241

Investment banking income
—

 
287

 
166

 
453

Trading income
—

 
—

 
137

 
137

Mortgage-related income
—

 
—

 
256

 
256

Trust and investment management income
228

 
—

 
2

 
230

Retail investment services 4
216

 
2

 
1

 
219

Insurance settlement
—

 
—

 
—

 
—

Commercial real estate-related income
—

 
—

 
66

 
66

Net securities gains/(losses)
—

 
—

 
1

 
1

Other noninterest income
17

 
—

 
91

 
108

Total noninterest income

$1,036

 

$478

 

$894

 

$2,408


1 
Consumer total noninterest income and Wholesale total noninterest income exclude $311 million and $618 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($35) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $38 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
v3.19.3
Federal Funds Sold and Securities Financing Activities
 9 Months Ended
Sep. 30, 2019
Securities Purchased under Agreements to Resell [Abstract]  
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]
NOTE 3 - FEDERAL FUNDS SOLD AND SECURITIES FINANCING ACTIVITIES
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell
Fed Funds sold and securities borrowed or purchased under agreements to resell were as follows:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Fed funds sold

$5

 

$42

Securities borrowed
491

 
394

Securities purchased under agreements to resell
818

 
1,243

Total Fed funds sold and securities borrowed or purchased under agreements to resell

$1,314

 

$1,679


Securities purchased under agreements to resell are primarily collateralized by U.S. government or agency securities and are carried at the amounts at which the securities will be subsequently resold, plus accrued interest. Securities borrowed are primarily collateralized by corporate securities. The Company borrows securities and purchases securities under agreements to resell as part of its securities financing activities. On the acquisition date of these securities, the Company and the
related counterparty agree on the amount of collateral required to secure the principal amount loaned under these arrangements. The Company monitors collateral values daily and calls for additional collateral to be provided as warranted under the respective agreements. At September 30, 2019 and December 31, 2018, the total market value of collateral held was $1.3 billion and $1.6 billion, of which $72 million and $108 million was repledged, respectively.

Securities Sold Under Agreements to Repurchase
Securities sold under agreements to repurchase are accounted for as secured borrowings. The following table presents the Company’s related activity, by collateral type and remaining contractual maturity:
 
September 30, 2019
 
December 31, 2018
(Dollars in millions)
Overnight and Continuous
 
Up to 30 days
 
Total
 
Overnight and Continuous
 
Up to 30 days
 
30-90 days
 
Total
U.S. Treasury securities

$89

 

$—

 

$89

 

$197

 

$7

 

$—

 

$204

Federal agency securities
95

 
9

 
104

 
112

 
10

 
—

 
122

MBS - agency residential
1,031

 
143

 
1,174

 
881

 
35

 
—

 
916

CP
74

 
—

 
74

 
78

 
—

 
—

 
78

Corporate and other debt securities
196

 
192

 
388

 
216

 
158

 
80

 
454

Total securities sold under agreements to repurchase

$1,485

 

$344

 

$1,829

 

$1,484

 

$210

 

$80

 

$1,774



For securities sold under agreements to repurchase, the Company would be obligated to provide additional collateral in the event of a significant decline in fair value of the collateral pledged. This risk is managed by monitoring the liquidity and credit quality of the collateral, as well as the maturity profile of the transactions.

Netting of Securities - Repurchase and Resell Agreements
The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company's derivatives that are subject to enforceable master netting agreements or similar agreements are discussed in Note 16, “Derivative Financial Instruments.”
The following table presents the Company's securities borrowed or purchased under agreements to resell and securities sold under agreements to repurchase that are subject to MRAs. Generally, MRAs require collateral to exceed the asset or liability recognized on the balance sheet. Transactions subject to these agreements are treated as collateralized financings, and those with a single counterparty are permitted to be presented net on the Company's Consolidated Balance Sheets, provided certain criteria are met that permit balance sheet netting. At September 30, 2019 and December 31, 2018, there were no such transactions subject to legally enforceable MRAs that were eligible for balance sheet netting. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs. While these agreements are typically over-collateralized, the amount of collateral presented in this table is limited to the amount of the related recognized asset or liability for each counterparty.
(Dollars in millions)
Gross
Amount
 
Amount
Offset
 
Net Amount
Presented in
Consolidated
Balance Sheets
 
Held/Pledged Financial
Instruments
 
Net
Amount
September 30, 2019
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,309

 

$—

 

$1,309

1 

$1,293

 

$16

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,829

 
—

 
1,829

 
1,829

 
—

 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,637

 

$—

 

$1,637

1 

$1,624

 

$13

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,774

 
—

 
1,774

 
1,774

 
—


1 Excludes $5 million and $42 million of Fed Funds sold that are not subject to a master netting agreement at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Trading Assets and Liabilities and Derivatives [Text Block]
NOTE 4 - TRADING ASSETS AND LIABILITIES AND DERIVATIVE INSTRUMENTS

The fair values of the components of trading assets and liabilities and derivative instruments are presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Trading Assets and Derivative Instruments:
 
 
 
U.S. Treasury securities

$212

 

$262

Federal agency securities
319

 
188

U.S. states and political subdivisions
43

 
54

MBS - agency residential
1,004

 
860

MBS - agency commercial
51

 
—

ABS
7

 
—

Corporate and other debt securities
628

 
700

CP
122

 
190

Equity securities
86

 
73

Derivative instruments 1
1,770

 
639

Trading loans 2
2,862

 
2,540

Total trading assets and derivative instruments

$7,104

 

$5,506

Trading Liabilities and Derivative Instruments:
 
 
 
U.S. Treasury securities

$538

 

$801

MBS - agency
—

 
3

Corporate and other debt securities
539

 
385

Equity securities
20

 
5

Derivative instruments 1
274

 
410

Trading loans
9

 
—

Total trading liabilities and derivative instruments

$1,380

 

$1,604

1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists.
2 Includes loans related to TRS.

Various trading and derivative instruments are used as part of the Company’s overall balance sheet management strategies and to support client requirements executed through the Bank and/or STRH, a broker/dealer subsidiary of the Company. The Company manages the potential market volatility associated with trading instruments by using appropriate risk management strategies. The size, volume, and nature of the trading products and derivative instruments can vary based on economic conditions as well as client-specific and Company-specific asset or liability positions.
Product offerings to clients include debt securities, loans traded in the secondary market, equity securities, derivative contracts, and other similar financial instruments. Other trading-related activities include acting as a market maker for certain debt and equity security transactions, derivative instrument transactions, and foreign exchange transactions. The Company also uses derivatives to manage its interest rate and market risk from non-trading activities. The Company has policies and procedures to manage market risk associated with client trading and non-trading activities, and assumes a limited degree of market risk by managing the size and nature of its exposure. For
valuation assumptions and additional information related to the Company's trading products and derivative instruments, see Note 16, “Derivative Financial Instruments,” in this Form 10-Q as
well as Note 20, “Fair Value Election and Measurement,” to the Consolidated Financial Statements in the Company's 2018 Annual Report on Form 10-K.

Pledged trading assets are presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Pledged trading assets to secure repurchase agreements 1

$1,226

 

$1,418

Pledged trading assets to secure certain derivative agreements
62

 
22

Pledged trading assets to secure other arrangements
40

 
40

1 Repurchase agreements secured by collateral totaled $1.2 billion and $1.4 billion at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Loans
 9 Months Ended
Sep. 30, 2019
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables, Excluding Allowance for Credit Losses [Text Block]
NOTE 6 - LOANS
Composition of Loan Portfolio
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Commercial loans:
 
 
 
C&I 1

$73,374

 

$71,137

CRE
9,491

 
7,265

Commercial construction
2,142

 
2,538

Total commercial LHFI
85,007

 
80,940

Consumer loans:
 
 
 
Residential mortgages - guaranteed
457

 
459

Residential mortgages - nonguaranteed 2
28,810

 
28,836

Residential home equity products
8,696

 
9,468

Residential construction
144

 
184

Guaranteed student
7,146

 
7,229

Other direct
12,431

 
10,615

Indirect
14,060

 
12,419

Credit cards
1,704

 
1,689

Total consumer LHFI
73,448

 
70,899

LHFI

$158,455

 

$151,839

LHFS 3

$2,006

 

$1,468

1 Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018, respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018, respectively.
2 Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018, respectively.
3 Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018, respectively.

LHFI Purchases, Sales, and Transfers
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Non-routine LHFI purchases 1, 2:
Consumer loans

$160

 

$101

 

$418

 

$101

Routine LHFI purchases 2, 3:
 
 
 
 
 
 
Consumer loans
517

 
545

 
1,433

 
1,568

LHFI sales 4, 5:
 
 
 
 
 
 
 
Commercial loans
171

 
14

 
387

 
87

Consumer loans
—

 
—

 
432

 
100

Transfers from:
 
 
 
 
 
 
 
LHFI to LHFS
 
 
 
 
812

 
449

LHFS to LHFI
 
 
 
 
17

 
23

LHFI to OREO
 
 
 
 
33

 
44

1 Purchases are episodic in nature and are conducted based on specific business strategies.
2 Represents UPB of loans purchased.
3 Purchases are routine in nature and are conducted in the normal course of business.
4 Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business.
5 The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019, and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018.

At September 30, 2019 and December 31, 2018, the Company had $33.3 billion and $28.1 billion of net eligible loan collateral pledged to the Federal Reserve discount window to support $24.4 billion and $21.3 billion of available, unused borrowing capacity, respectively.
At September 30, 2019 and December 31, 2018, the Company had $39.8 billion and $39.2 billion of net eligible loan collateral pledged to the FHLB of Atlanta to support $32.5 billion and $31.0 billion of available borrowing capacity, respectively. The available FHLB borrowing capacity at September 30, 2019 was used to support $7.5 billion of advances and $4.2 billion of letters of credit issued on the Company's behalf. At December 31, 2018, the available FHLB borrowing capacity was used to support $5.0 billion of advances and $5.8 billion of letters of credit issued on the Company's behalf.
Credit Quality Evaluation
The Company evaluates the credit quality of its LHFI portfolio by employing a dual internal risk rating system, which assigns both PD and LGD ratings to derive expected losses. Assignment of these ratings are predicated upon numerous factors, including consumer credit risk scores, rating agency information, borrower/guarantor financial capacity, LTV ratios, collateral type, debt service coverage ratios, collection experience, other internal metrics/analyses, and/or qualitative assessments.
For the commercial portfolio, the Company believes that the most appropriate credit quality indicator is an individual loan’s risk assessment expressed according to the broad regulatory agency classifications of Pass or Criticized. The Company conforms to the following regulatory classifications for Criticized assets: Other Assets Especially Mentioned (or Special Mention), Substandard, Doubtful, and Loss. However, for the purposes of disclosure, management believes the most meaningful distinction within the Criticized categories is between Criticized accruing (which includes Special Mention and a portion of Substandard) and Criticized nonaccruing (which includes a portion of Substandard as well as Doubtful and Loss). This distinction identifies those relatively higher risk loans for which there is a basis to believe that the Company will not collect all amounts due under those loan agreements. The Company's risk rating system is more granular, with multiple risk ratings in both the Pass and Criticized categories. Pass ratings reflect relatively low PDs; whereas, Criticized assets have higher PDs. The granularity in Pass ratings assists in establishing pricing, loan structures, approval requirements, reserves, and ongoing credit management requirements. Commercial risk ratings are refreshed at least annually, or more frequently as appropriate, based upon considerations such as market conditions, borrower characteristics, and portfolio trends. Additionally, management routinely reviews portfolio risk ratings, trends, and concentrations to support risk identification and mitigation activities. As reflected in the following risk rating table, the increase in Criticized C&I loans at September 30, 2019 compared to December 31, 2018, was due to certain borrower downgrades that occurred during 2019.
For consumer loans, the Company monitors credit risk based on indicators such as delinquencies and FICO scores. The Company believes that consumer credit risk, as assessed by the industry-wide FICO scoring method, is a relevant credit quality indicator. Borrower-specific FICO scores are obtained at origination as part of the Company’s formal underwriting process, and refreshed FICO scores are obtained by the Company at least quarterly.
For guaranteed loans, the Company monitors the credit quality based primarily on delinquency status, as it is a more
relevant indicator of credit quality due to the government guarantee. At September 30, 2019 and December 31, 2018, 29% and 27%, respectively, of guaranteed residential mortgages were current with respect to payments. At September 30, 2019 and December 31, 2018, 78% and 72%, respectively, of guaranteed student loans were current with respect to payments. The Company's loss exposure on guaranteed residential mortgages and student loans is mitigated by the government guarantee.

LHFI by credit quality indicator are presented in the following tables:
 
Commercial Loans
 
C&I
 
CRE
 
Commercial Construction
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Risk rating:
 
 
 
 
 
 
 
 
 
 
 
Pass

$70,739

 

$69,095

 

$9,410

 

$7,165

 

$2,082

 

$2,459

Criticized accruing
2,285

 
1,885

 
80

 
98

 
60

 
79

Criticized nonaccruing
350

 
157

 
1

 
2

 
—

 
—

Total

$73,374

 

$71,137

 

$9,491

 

$7,265

 

$2,142

 

$2,538



 
 Consumer Loans 1
 
Residential Mortgages -
Nonguaranteed
 
Residential Home Equity Products
 
Residential Construction
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$25,985

 

$25,764

 

$7,406

 

$8,060

 

$116

 

$151

620 - 699
2,219

 
2,367

 
929

 
1,015

 
22

 
27

Below 620 2
606

 
705

 
361

 
393

 
6

 
6

Total

$28,810

 

$28,836

 

$8,696

 

$9,468

 

$144

 

$184


 
Other Direct
 
Indirect
 
Credit Cards
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$10,671

 

$9,296

 

$10,904

 

$9,315

 

$1,145

 

$1,142

620 - 699
1,543

 
1,175

 
2,367

 
2,395

 
423

 
420

Below 620 2
217

 
144

 
789

 
709

 
136

 
127

Total

$12,431

 

$10,615

 

$14,060

 

$12,419

 

$1,704

 

$1,689


1 Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018, respectively, for which there was nominal risk of principal loss due to the government guarantee.
2  For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned.

The LHFI portfolio by payment status is presented in the following tables:

 
September 30, 2019
 
Accruing
 
 
 
 
(Dollars in millions)
Current
 
30-89 Days
Past Due
 
90+ Days
Past Due
 
 Nonaccruing 1
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$72,955

 

$55

 

$14

 

$350

 

$73,374

CRE
9,486

 
3

 
1

 
1

 
9,491

Commercial construction
2,142

 
—

 
—

 
—

 
2,142

Total commercial LHFI
84,583

 
58

 
15

 
351

 
85,007

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
131

 
25

 
301

 
—

3 
457

Residential mortgages - nonguaranteed 2
28,620

 
55

 
10

 
125

 
28,810

Residential home equity products
8,534

 
61

 
1

 
100

 
8,696

Residential construction
135

 
1

 
—

 
8

 
144

Guaranteed student
5,563

 
543

 
1,040

 
—

3 
7,146

Other direct
12,362

 
53

 
5

 
11

 
12,431

Indirect
13,951

 
103

 
1

 
5

 
14,060

Credit cards
1,666

 
18

 
20

 
—

 
1,704

Total consumer LHFI
70,962

 
859

 
1,378

 
249

 
73,448

Total LHFI

$155,545

 

$917

 

$1,393

 

$600

 

$158,455

1 Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
2 Includes $124 million of LHFI measured at fair value, the majority of which were accruing current.
3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. 


 
December 31, 2018
 
Accruing
 
 
 
 
(Dollars in millions)
Current
 
30-89 Days
Past Due
 
90+ Days
Past Due
 
 Nonaccruing 1
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$70,901

 

$64

 

$15

 

$157

 

$71,137

CRE
7,259

 
3

 
1

 
2

 
7,265

Commercial construction
2,538

 
—

 
—

 
—

 
2,538

Total commercial LHFI
80,698

 
67

 
16

 
159

 
80,940

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
125

 
39

 
295

 
—

3 
459

Residential mortgages - nonguaranteed 2
28,552

 
70

 
10

 
204

 
28,836

Residential home equity products
9,268

 
62

 
—

 
138

 
9,468

Residential construction
170

 
3

 
—

 
11

 
184

Guaranteed student
5,236

 
685

 
1,308

 
—

3 
7,229

Other direct
10,559

 
45

 
4

 
7

 
10,615

Indirect
12,286

 
125

 
1

 
7

 
12,419

Credit cards
1,654

 
17

 
18

 
—

 
1,689

Total consumer LHFI
67,850

 
1,046

 
1,636

 
367

 
70,899

Total LHFI

$148,548

 

$1,113

 

$1,652

 

$526

 

$151,839

1 Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
2 Includes $163 million of LHFI measured at fair value, the majority of which were accruing current.
3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government.


Impaired Loans
A loan is considered impaired when it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the agreement. Commercial nonaccrual loans greater than $3 million and certain commercial and consumer LHFI whose terms have been modified in a TDR are individually evaluated for
impairment. Smaller-balance homogeneous LHFI that are collectively evaluated for impairment and LHFI measured at fair value are not included in the following tables. Additionally, the following tables exclude guaranteed student loans and guaranteed residential mortgages for which there was nominal risk of principal loss due to the government guarantee.

 
September 30, 2019
 
December 31, 2018
(Dollars in millions)
Unpaid
Principal
Balance
 
 Carrying 1
Value
 
Related
ALLL
 
Unpaid
Principal
Balance
 
 Carrying 1
Value
 
Related
ALLL
Impaired LHFI with no ALLL recorded:
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
C&I

$48

 

$39

 

$—

 

$132

 

$79

 

$—

CRE
—

 
—

 
—

 
10

 
—

 
—

Total commercial LHFI with no ALLL recorded
48

 
39

 
—

 
142

 
79

 
—

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
354

 
283

 
—

 
501

 
397

 
—

Residential construction
7

 
4

 
—

 
12

 
7

 
—

Total consumer LHFI with no ALLL recorded
361

 
287

 
—

 
513

 
404

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
C&I
311

 
300

 
71

 
81

 
70

 
13

Total commercial LHFI with an ALLL recorded
311

 
300

 
71

 
81

 
70

 
13

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
561

 
561

 
54

 
1,006

 
984

 
96

Residential home equity products
753

 
721

 
41

 
849

 
799

 
44

Residential construction
70

 
68

 
5

 
79

 
76

 
6

Other direct
57

 
57

 
1

 
57

 
57

 
1

Indirect
136

 
135

 
4

 
133

 
133

 
5

Credit cards
12

 
12

 
3

 
30

 
9

 
2

Total consumer LHFI with an ALLL recorded
1,589

 
1,554

 
108

 
2,154

 
2,058

 
154

Total impaired LHFI

$2,309

 

$2,180

 

$179

 

$2,890

 

$2,611

 

$167

1 Carrying value reflects charge-offs that have been recognized plus other amounts that have been applied to adjust the net book balance.


Included in the impaired LHFI carrying values above at September 30, 2019 and December 31, 2018 were $1.8 billion and $2.3 billion, respectively, of accruing TDRs held for investment, of which 97% were current. This reduction was driven by our sale of $465 million of accruing TDRs in the second
quarter of 2019 for a net gain on sale of $44 million. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K, for further information regarding the Company’s loan impairment policy.



 
Three Months Ended September 30
 
Nine Months Ended September 30
 
2019
 
2018
 
2019
 
2018
(Dollars in millions)
Average
Carrying Value
 
 Interest 1
Income
Recognized
 
Average
Carrying Value
 
 Interest 1
Income
Recognized
 
Average
Carrying
Value
 
 Interest 1
Income
Recognized
 
Average
Carrying
Value
 
 Interest 1
Income
Recognized
Impaired LHFI with no ALLL recorded:
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I

$40

 

$—

 

$44

 

$—

 

$41

 

$—

 

$45

 

$1

CRE
—

 
—

 
20

 
—

 
—

 
—

 
20

 
—

Total commercial LHFI with no ALLL recorded
40

 
—

 
64

 
—

 
41

 
—

 
65

 
1

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
284

 
4

 
381

 
4

 
287

 
12

 
386

 
11

Residential construction
4

 
—

 
7

 
—

 
4

 
—

 
7

 
—

Total consumer LHFI with no ALLL recorded
288

 
4

 
388

 
4

 
291

 
12

 
393

 
11

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
303

 
2

 
177

 
—

 
305

 
8

 
176

 
3

CRE
—

 
—

 
21

 
—

 
—

 
—

 
22

 
—

Total commercial LHFI with an ALLL recorded
303

 
2

 
198

 
—

 
305

 
8

 
198

 
3

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
562

 
8

 
1,027

 
13

 
565

 
28

 
1,031

 
39

Residential home equity products
723

 
8

 
824

 
9

 
732

 
25

 
833

 
27

Residential construction
68

 
1

 
80

 
1

 
69

 
3

 
82

 
4

Other direct
58

 
1

 
57

 
1

 
58

 
3

 
58

 
3

Indirect
139

 
2

 
134

 
2

 
147

 
5

 
141

 
5

Credit cards
12

 
—

 
8

 
—

 
11

 
1

 
8

 
1

Total consumer LHFI with an ALLL recorded
1,562

 
20

 
2,130

 
26

 
1,582

 
65

 
2,153

 
79

Total impaired LHFI

$2,193

 

$26

 

$2,780

 

$30

 

$2,219

 

$85

 

$2,809

 

$94

1 Of the interest income recognized during the three and nine months ended September 30, 2019, cash basis interest income was immaterial and $9 million, respectively.
Of the interest income recognized during the three and nine months ended September 30, 2018, cash basis interest income was immaterial.


NPAs are presented in the following table:

(Dollars in millions)
September 30, 2019
 
December 31, 2018
NPAs:
 
 
 
Commercial NPLs:
 
 
 
C&I

$350

 

$157

CRE
1

 
2

Consumer NPLs:
 
 
 
Residential mortgages - nonguaranteed
125

 
204

Residential home equity products
100

 
138

Residential construction
8

 
11

Other direct
11

 
7

Indirect
5

 
7

Total nonaccrual LHFI/NPLs 1
600

 
526

OREO 2
52

 
54

Other repossessed assets
8

 
9

Nonperforming LHFS
1

 
—

Total NPAs

$661

 

$589

1 Nonaccruing restructured LHFI are included in total nonaccrual LHFI/NPLs.
2 Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.



The Company's recorded investment of nonaccruing LHFI secured by residential real estate properties for which formal foreclosure proceedings were in process at September 30, 2019 and December 31, 2018 was $73 million and $93 million, respectively. The Company's recorded investment of accruing LHFI secured by residential real estate properties for which formal foreclosure proceedings were in process at September 30, 2019 and December 31, 2018 was $123 million and $110 million, of which $115 million and $103 million were insured by the FHA or guaranteed by the VA, respectively.
At September 30, 2019, OREO included $50 million of foreclosed residential real estate properties and $1 million of foreclosed commercial real estate properties, with the remaining $1 million related to land.
At December 31, 2018, OREO included $50 million of foreclosed residential real estate properties and $2 million of foreclosed commercial real estate properties, with the remaining $2 million related to land.


Restructured Loans
A TDR is a loan for which the Company has granted an economic concession to a borrower in response to financial difficulty experienced by the borrower, which the Company would not have considered otherwise. When a loan is modified under the terms of a TDR, the Company typically offers the borrower an extension of the loan maturity date and/or a reduction in the original contractual interest rate. In limited situations, the Company may offer to restructure a loan in a manner that
ultimately results in the forgiveness of a contractually specified principal balance.
At both September 30, 2019 and December 31, 2018, the Company had an immaterial amount of commitments to lend additional funds to debtors whose terms have been modified in a TDR. The number and carrying value of loans modified under the terms of a TDR, by type of modification, are presented in the following tables:

 
Three Months Ended September 30, 2019 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
32

 

$—

 

$12

 

$12

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
30

 
2

 
2

 
4

Residential home equity products
54

 
—

 
3

 
3

Other direct
234

 
—

 
3

 
3

Indirect
634

 
—

 
16

 
16

Credit cards
537

 
3

 
—

 
3

Total TDR additions
1,521

 

$5



$36

 

$41

1 Includes loans modified under the terms of a TDR that were charged-off during the period.

 
Nine Months Ended September 30, 2019 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
88

 

$1

 

$17

 

$18

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
88

 
4

 
7

 
11

Residential home equity products
215

 
2

 
13

 
15

Other direct
642

 
—

 
10

 
10

Indirect
1,755

 
—

 
42

 
42

Credit cards
1,531

 
7

 
—

 
7

Total TDR additions
4,319

 

$14

 

$89

 

$103


1 Includes loans modified under the terms of a TDR that were charged-off during the period.

 
Three Months Ended September 30, 2018 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
47

 

$—

 

$16

 

$16

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
48

 
3

 
7

 
10

Residential home equity products
130

 
1

 
11

 
12

Other direct
141

 
—

 
2

 
2

Indirect
559

 
—

 
14

 
14

Credit cards
345

 
1

 
—

 
1

Total TDR additions
1,270

 

$5

 

$50

 

$55

1 Includes loans modified under the terms of a TDR that were charged-off during the period.
 
Nine Months Ended September 30, 2018 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
122

 

$—

 

$75

 

$75

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
267

 
18

 
46

 
64

Residential home equity products
410

 
1

 
34

 
35

Residential construction
4

 
—

 
—

 
—

Other direct
469

 
—

 
6

 
6

Indirect
1,954

 
—

 
46

 
46

Credit cards
1,079

 
4

 
—

 
4

Total TDR additions
4,305

 

$23

 

$207

 

$230

1 Includes loans modified under the terms of a TDR that were charged-off during the period.

TDRs that defaulted during the three and nine months ended September 30, 2019 and 2018, which were first modified within the previous twelve months, were immaterial. The majority of loans that were modified under the terms of a TDR and subsequently became 90 days or more delinquent have remained on nonaccrual status since the time of delinquency.

Concentrations of Credit Risk
The Company does not have a significant concentration of credit risk to any individual client except for the U.S. government and its agencies. However, a geographic concentration arises because the majority of the Company's LHFI portfolio represents borrowers that reside in Florida, Georgia, Virginia, Texas, and Maryland. The Company’s cross-border outstanding loans totaled $1.9 billion and $1.8 billion at September 30, 2019 and December 31, 2018, respectively.
With respect to collateral concentration, the Company's recorded investment in residential real estate secured LHFI totaled $38.1 billion at September 30, 2019 and represented 24% of total LHFI. At December 31, 2018, the Company's recorded investment in residential real estate secured LHFI totaled $38.9 billion and represented 26% of total LHFI. Additionally, at September 30, 2019 and December 31, 2018, the Company had commitments to extend credit on home equity lines of $10.6 billion and $10.3 billion, and had residential mortgage commitments outstanding of $5.7 billion and $2.7 billion, respectively. At both September 30, 2019 and December 31, 2018, 1% of the Company's LHFI secured by residential real estate was insured by the FHA or guaranteed by the VA.
v3.19.3
Securities Available for Sale
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
NOTE 5 – INVESTMENT SECURITIES
Investment Securities Portfolio Composition
 
September 30, 2019
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$3,915

 

$103

 

$—

 

$4,018

Federal agency securities
123

 
1

 
—

 
124

U.S. states and political subdivisions
564

 
9

 
1

 
572

MBS - agency residential
22,069

 
520

 
4

 
22,585

MBS - agency commercial
2,881

 
103

 
1

 
2,983

MBS - non-agency commercial
1,008

 
56

 
—

 
1,064

Corporate and other debt securities
12

 
—

 
—

 
12

Total securities AFS

$30,572

 

$792

 

$6

 

$31,358

 
 
 
 
 
 
 
 
 
 December 31, 2018 
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$4,277

 

$—

 

$66

 

$4,211

Federal agency securities
221

 
2

 
2

 
221

U.S. states and political subdivisions
606

 
4

 
21

 
589

MBS - agency residential
23,161

 
128

 
425

 
22,864

MBS - agency commercial
2,688

 
8

 
69

 
2,627

MBS - non-agency commercial
943

 
—

 
27

 
916

Corporate and other debt securities
14

 
—

 
—

 
14

Total securities AFS

$31,910

 

$142

 

$610

 

$31,442




The following table presents interest on securities AFS:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Taxable interest

$211

 

$207

 

$646

 

$614

Tax-exempt interest
4

 
5

 
13

 
14

Total interest on securities AFS

$215

 

$212

 

$659

 

$628




Investment securities pledged to secure public deposits, repurchase agreements, trusts, certain derivative agreements, and other funds had a fair value of $4.0 billion and $3.3 billion at September 30, 2019 and December 31, 2018, respectively.
The following table presents the amortized cost, fair value, and weighted average yield of the Company's investment securities at September 30, 2019, by remaining contractual maturity, with the exception of MBS, which are based on estimated average life. Receipt of cash flows may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.
 
Distribution of Remaining Maturities
(Dollars in millions)
Due in 1 Year or Less
 
Due After 1 Year through 5 Years
 
Due After 5 Years through 10 Years
 
Due After 10 Years
 
Total
Amortized Cost:
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$632

 

$2,331

 

$952

 

$—

 

$3,915

Federal agency securities
50

 
10

 
6

 
57

 
123

U.S. states and political subdivisions
—

 
90

 
317

 
157

 
564

MBS - agency residential
1,435

 
9,389

 
10,890

 
355

 
22,069

MBS - agency commercial
—

 
835

 
1,683

 
363

 
2,881

MBS - non-agency commercial
—

 
12

 
996

 
—

 
1,008

Corporate and other debt securities
—

 
12

 
—

 
—

 
12

Total securities AFS

$2,117

 

$12,679

 

$14,844

 

$932

 

$30,572

Fair Value:
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$634

 

$2,389

 

$995

 

$—

 

$4,018

Federal agency securities
50

 
10

 
6

 
58

 
124

U.S. states and political subdivisions
—

 
95

 
320

 
157

 
572

MBS - agency residential
1,485

 
9,630

 
11,108

 
362

 
22,585

MBS - agency commercial
—

 
851

 
1,752

 
380

 
2,983

MBS - non-agency commercial
—

 
12

 
1,052

 
—

 
1,064

Corporate and other debt securities
—

 
12

 
—

 
—

 
12

Total securities AFS

$2,169

 

$12,999

 

$15,233

 

$957

 

$31,358

 Weighted average yield 1
3.09
%
 
2.81
%
 
2.93
%
 
3.02
%
 
2.89
%
1 Weighted average yields are based on amortized cost and presented on an FTE basis.


Investment Securities in an Unrealized Loss Position
The Company held certain investment securities where amortized cost exceeded fair value, resulting in unrealized loss positions. Market changes in interest rates and credit spreads may result in temporary unrealized losses as the market prices of securities fluctuate. At September 30, 2019, the Company did not intend to sell these securities nor was it more-likely-than-not
that the Company would be required to sell these securities before their anticipated recovery or maturity. The Company reviewed its portfolio for OTTI in accordance with the accounting policies described in Note 1, "Significant Accounting Policies," to the Company's 2018 Annual Report on Form 10-K.

Investment securities in an unrealized loss position at period end are presented in the following tables:
 
September 30, 2019
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$50

 

$—

 

$—

 

$—

 

$50

 

$—

Federal agency securities
20

 
—

 
—

 
—

 
20

 
—

U.S. states and political subdivisions
119

 
1

 
—

 
—

 
119

 
1

MBS - agency residential
1,089

 
4

 
—

 
—

 
1,089

 
4

MBS - agency commercial
207

 
1

 
—

 
—

 
207

 
1

Corporate and other debt securities
—

 
—

 
6

 
—

 
6

 
—

Total temporarily impaired securities AFS
1,485

 
6


6


—


1,491


6

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
Total OTTI securities AFS
—

 
—

 
—

 
—

 
—

 
—

Total impaired securities AFS

$1,485

 

$6

 

$6

 

$—

 

$1,491

 

$6

1 Unrealized losses less than $0.5 million are presented as zero within the table.
2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.

 
December 31, 2018
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$—

 

$4,177

 

$66

 

$4,177

 

$66

Federal agency securities
—

 
—

 
63

 
2

 
63

 
2

U.S. states and political subdivisions
49

 
1

 
430

 
20

 
479

 
21

MBS - agency residential
1,229

 
5

 
15,384

 
420

 
16,613

 
425

MBS - agency commercial
68

 
—

 
1,986

 
69

 
2,054

 
69

MBS - non-agency commercial
106

 
1

 
773

 
26

 
879

 
27

Corporate and other debt securities
—

 
—

 
9

 
—

 
9

 
—

Total temporarily impaired securities AFS
1,452

 
7

 
22,822

 
603

 
24,274

 
610

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
Total OTTI securities AFS
—

 
—

 
—

 
—

 
—

 
—

Total impaired securities AFS

$1,452

 

$7

 

$22,822

 

$603

 

$24,274

 

$610

1 Unrealized losses less than $0.5 million are presented as zero within the table.
2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.

The Company does not consider the unrealized losses on temporarily impaired securities AFS to be credit-related. These unrealized losses were due primarily to market interest rates
being higher than the securities' stated coupon rates, and therefore, the unrealized losses were recorded in AOCI, net of tax.


Realized Gains and Losses and Other-Than-Temporarily Impaired Securities
Net securities gains or losses are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings. During the nine months ended September 30, 2019, the Company recognized $38 million in net securities losses, driven by the Company's second quarter of 2019 repositioning of a portion of the securities AFS portfolio, which resulted in $42 million of gross realized losses. This repositioning in the second quarter of 2019 was not due to any requirement to sell the securities before their anticipated recovery or maturity.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Gross realized gains

$4

 

$—

 

$4

 

$7

Gross realized losses
—

 
—

 
(42
)
 
(6
)
OTTI credit losses recognized in earnings
—

 
—

 
—

 
—

Net securities gains/(losses)

$4

 

$—

 

($38
)
 

$1



Investment securities in an unrealized loss position are evaluated quarterly for other-than-temporary credit impairment, which is determined using cash flow analyses that take into account security specific collateral and transaction structure. Future expected credit losses are determined using various assumptions, the most significant of which include default rates, prepayment rates, and loss severities. If, based on this analysis, a security is
in an unrealized loss position and the Company does not expect to recover the entire amortized cost basis of the security, the expected cash flows are then discounted at the security’s initial effective interest rate to arrive at a present value amount. Credit losses on the OTTI security are recognized in earnings and reflect the difference between the present value of cash flows expected to be collected and the amortized cost basis of the security. Subsequent credit losses may be recorded on OTTI securities without a corresponding further decline in fair value when there has been a decline in expected cash flows. See Note 1, "Significant Accounting Policies," to the Company's 2018 Annual Report on Form 10-K for additional information regarding the Company's accounting policy on securities AFS and related impairments.
The Company seeks to reduce its exposure on any existing OTTI securities primarily through paydowns. In certain instances, the amount of credit losses recognized in earnings on a debt security exceeds the total unrealized losses on the security, which may result in unrealized gains relating to factors other than credit recorded in AOCI, net of tax.
During the three and nine months ended September 30, 2019 and 2018, there were no credit impairment losses recognized on securities AFS held at the end of the period. The accumulated balance of OTTI credit losses recognized in earnings on securities AFS held at period end was zero at both September 30, 2019 and 2018.
v3.19.3
Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2019
Allowance for Credit Losses [Abstract]  
Allowance for Credit Losses
NOTE 7 - ALLOWANCE FOR CREDIT LOSSES
The allowance for credit losses consists of the ALLL and the unfunded commitments reserve. Activity in the allowance for credit losses by LHFI segment is presented in the following tables:
 
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
(Dollars in millions)
Commercial
 
Consumer
 
Total
 
Commercial
 
Consumer
 
Total
ALLL, beginning of period

$1,202

 

$479

 

$1,681

 

$1,080

 

$535

 

$1,615

Provision for loan losses
42

 
88

 
130

 
208

 
201

 
409

Loan charge-offs
(35
)
 
(104
)
 
(139
)
 
(88
)
 
(289
)
 
(377
)
Loan recoveries
5

 
22

 
27

 
14

 
69

 
83

Other 1
—

 
—

 
—

 
—

 
(31
)
 
(31
)
ALLL, end of period
1,214

 
485

 
1,699

 
1,214

 
485

 
1,699

 
 
 
 
 
 
 
 
 
 
 
 
Unfunded commitments reserve, beginning of period 2
70

 
—

 
70

 
69

 
—

 
69

Provision for unfunded commitments
2

 
—

 
2

 
3

 
—

 
3

Unfunded commitments reserve, end of period 2
72

 
—

 
72

 
72

 
—

 
72

 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses, end of period

$1,286

 

$485

 

$1,771

 

$1,286

 

$485

 

$1,771


1  Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019.
2 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.

 
Three Months Ended September 30, 2018
 
Nine Months Ended September 30, 2018
(Dollars in millions)
Commercial
 
Consumer
 
Total
 
Commercial
 
Consumer
 
Total
ALLL, beginning of period

$1,068

 

$582

 

$1,650

 

$1,101

 

$634

 

$1,735

Provision for loan losses
36

 
25

 
61

 
37

 
91

 
128

Loan charge-offs
(51
)
 
(71
)
 
(122
)
 
(95
)
 
(234
)
 
(329
)
Loan recoveries
9

 
25

 
34

 
19

 
70

 
89

ALLL, end of period
1,062

 
561

 
1,623

 
1,062

 
561

 
1,623

 
 
 
 
 
 
 
 
 
 
 
 
Unfunded commitments reserve, beginning of period 1
72

 
—

 
72

 
79

 
—

 
79

(Benefit)/provision for unfunded commitments
—

 
—

 
—

 
(7
)
 
—

 
(7
)
Unfunded commitments reserve, end of period 1
72

 
—

 
72

 
72

 
—

 
72

 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses, end of period

$1,134

 

$561

 

$1,695

 

$1,134

 

$561

 

$1,695


1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.

As discussed in Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K, the ALLL is composed of both specific allowances for certain nonaccrual loans and TDRs, and general allowances for groups of LHFI with similar risk characteristics. No allowance is required for LHFI
measured at fair value. Additionally, the Company records an immaterial allowance for LHFI products that are insured by federal agencies or guaranteed by GSEs, as there is nominal risk of principal loss.

The Company’s LHFI portfolio and related ALLL are presented in the following tables:
 
September 30, 2019
 
Commercial Loans
 
Consumer Loans
 
Total
(Dollars in millions)
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
LHFI evaluated for impairment:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated

$339

 

$71

 

$1,841

 

$108

 

$2,180

 

$179

Collectively evaluated
84,668

 
1,143

 
71,483

 
377

 
156,151

 
1,520

Total evaluated
85,007

 
1,214

 
73,324

 
485

 
158,331

 
1,699

LHFI measured at fair value
—

 
—

 
124

 
—

 
124

 
—

Total LHFI

$85,007

 

$1,214

 

$73,448

 

$485

 

$158,455

 

$1,699



 
December 31, 2018
 
Commercial Loans
 
Consumer Loans
 
Total
(Dollars in millions)
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
LHFI evaluated for impairment:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated

$149

 

$13

 

$2,462

 

$154

 

$2,611

 

$167

Collectively evaluated
80,791

 
1,067

 
68,274

 
381

 
149,065

 
1,448

Total evaluated
80,940

 
1,080

 
70,736

 
535

 
151,676

 
1,615

LHFI measured at fair value
—

 
—

 
163

 
—

 
163

 
—

Total LHFI

$80,940

 

$1,080

 

$70,899

 

$535

 

$151,839

 

$1,615
v3.19.3
Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
NOTE 8 – GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
The Company conducts a qualitative goodwill assessment at the reporting unit level at least quarterly, or more frequently as events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. The Company performed a qualitative goodwill assessment for the Consumer and Wholesale reporting units in the first, second, and third quarters of 2019, and concluded that a quantitative goodwill impairment test was not necessary for either reporting unit as it was more-likely-than-not that the fair value of both reporting units were greater than their respective
carrying amounts. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information and the Company’s goodwill accounting policy.
There were no changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2019. Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2018 are presented in the following table.
(Dollars in millions)
Consumer
 
Wholesale
 
Total
Balance, January 1, 2018

$4,262

 

$2,069

 

$6,331

Reallocation related to intersegment transfer of business banking clients
128

 
(128
)
 
—

Balance, September 30, 2018

$4,390

 

$1,941

 

$6,331



Other Intangible Assets
Changes in the carrying amount of other intangible assets are presented in the following table:
(Dollars in millions)
Residential MSRs - Fair Value
 
Commercial MSRs - Amortized Cost
 
Other
 
Total
Balance, January 1, 2019

$1,983

 

$66

 

$13

 

$2,062

Amortization 1
—

 
(8
)
 
(1
)
 
(9
)
Servicing rights originated
237

 
14

 
—

 
251

Changes in fair value:
 
 
 
 
 
 


Due to changes in inputs and assumptions 2
(439
)
 
—

 
—

 
(439
)
Other changes in fair value 3
(215
)
 
—

 
—

 
(215
)
Servicing rights sold
(2
)
 
—

 
—

 
(2
)
Balance, September 30, 2019

$1,564

 

$72

 

$12

 

$1,648

 
 
 
 
 
 
 
 
Balance, January 1, 2018

$1,710

 

$65

 

$16

 

$1,791

Amortization 1
—

 
(11
)
 
(2
)
 
(13
)
Servicing rights originated
250

 
10

 
—

 
260

Servicing rights purchased
89

 
—

 
—

 
89

Changes in fair value:
 
 
 
 
 
 


Due to changes in inputs and assumptions 2
198

 
—

 
—

 
198

Other changes in fair value 3
(183
)
 
—

 
—

 
(183
)
Servicing rights sold
(2
)
 
—

 
—

 
(2
)
Balance, September 30, 2018

$2,062

 

$64

 

$14

 

$2,140

1 Does not include expense associated with community development investments. See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
2 Primarily reflects changes in option adjusted spreads and prepayment speed assumptions due to changes in interest rates.
3 Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time.

The gross carrying value and accumulated amortization of other intangible assets are presented in the following table:
 
September 30, 2019
 
December 31, 2018
(Dollars in millions)
Gross Carrying Value
 
Accumulated Amortization
 
Net Carrying Value
 
Gross Carrying Value
 
Accumulated Amortization
 
Net Carrying Value
Amortized other intangible assets 1:
 
 
 
 
 
 
 
 
 
 
 
Commercial MSRs

$109

 

($37
)
 

$72

 

$95

 

($29
)
 

$66

Other
6

 
(6
)
 
—

 
6

 
(5
)
 
1

Unamortized other intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Residential MSRs
1,564

 
—

 
1,564

 
1,983

 
—

 
1,983

Other
12

 
—

 
12

 
12

 
—

 
12

Total other intangible assets

$1,691

 

($43
)
 

$1,648

 

$2,096

 

($34
)
 

$2,062

1 Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized.

Servicing Rights
The Company acquires servicing rights and retains servicing rights for certain of its sales or securitizations of residential mortgages and commercial loans. Servicing rights on residential and commercial mortgages are capitalized by the Company and are classified as Other intangible assets on the Company's Consolidated Balance Sheets.

Residential Mortgage Servicing Rights
Income earned by the Company on its residential MSRs is derived primarily from contractually specified mortgage servicing fees and late fees, net of curtailment costs, and is presented in the following table.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Income from residential MSRs 1

$110

 

$108

 

$331

 

$322

1 Recognized in Mortgage-related income in the Consolidated Statements of Income.

The UPB of residential mortgage loans serviced for third parties is presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
UPB of loans underlying residential MSRs

$135,029

 

$140,801


No MSRs on residential loans were purchased during the nine months ended September 30, 2019. The Company purchased MSRs on residential loans with a UPB of $7.0 billion during the nine months ended September 30, 2018. During the nine months ended September 30, 2019 and 2018, the Company sold MSRs on residential loans, at a price approximating their fair value, with a UPB of $708 million and $781 million, respectively.
The Company measures the fair value of its residential MSRs using a valuation model that calculates the present value of estimated future net servicing income using prepayment projections, spreads, and other assumptions. The Consumer Valuation Committee reviews and approves all significant assumption changes at least annually, drawing upon various market and empirical data sources. Changes to valuation model inputs are reflected in the periods’ results. For additional information regarding the Company’s residential MSR valuation methodology, see Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K.
A summary of the significant unobservable inputs used to estimate the fair value of the Company’s residential MSRs and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date are presented in the following table.
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Fair value of residential MSRs

$1,564

 

$1,983

Prepayment rate assumption (annual)
15
%
 
13
%
Decline in fair value from 10% adverse change

$95

 

$96

Decline in fair value from 20% adverse change
180

 
183

Option adjusted spread (annual)
3
%
 
2
%
Decline in fair value from 10% adverse change

$28

 

$44

Decline in fair value from 20% adverse change
56

 
86

Weighted-average life (in years)
4.4

 
5.5

Weighted-average coupon
4.0
%
 
4.0
%

Residential MSR uncertainties are hypothetical and should be used with caution. Changes in fair value based on variations in assumptions generally cannot be extrapolated because (i) the relationship of the change in an assumption to the change in fair value may not be linear and (ii) changes in one assumption may result in changes in another, which might magnify or counteract the uncertainties. The uncertainties do not reflect the effect of hedging activity undertaken by the Company to offset changes in the fair value of MSRs. See Note 16, “Derivative Financial Instruments,” for further information regarding these hedging activities.
Commercial Mortgage Servicing Rights
Income earned by the Company on its commercial MSRs is derived primarily from contractually specified servicing fees and other ancillary fees. The Company also earns income from subservicing certain third party commercial mortgages for which the Company does not record servicing rights.
The following table presents the Company’s income earned from servicing commercial mortgages.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Income from commercial MSRs 1

$6

 

$5

 

$19

 

$20

Income from subservicing third party commercial mortgages 1
5

 
3

 
13

 
9

1 Recognized in Commercial real estate-related income in the Consolidated Statements of Income.
The UPB of commercial mortgage loans serviced for third parties is presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
UPB of commercial mortgages subserviced for third parties

$32,725

 

$28,140

UPB of loans underlying commercial MSRs
7,391

 
6,399

Total UPB of commercial mortgages serviced for third parties

$40,116

 

$34,539



No commercial MSRs were purchased or sold during the nine months ended September 30, 2019 and 2018.
Commercial MSRs are accounted for at amortized cost and are monitored for impairment on an ongoing basis. The Company calculates the fair value of commercial MSRs based on the present value of estimated future net servicing income, considering prepayment projections and other assumptions. Impairment, if any, is recognized when the carrying value of the servicing asset exceeds the fair value at the measurement date. The amortized cost of the Company’s commercial MSRs was $72 million and $66 million at September 30, 2019 and December 31, 2018, respectively.
A summary of the significant unobservable inputs used to estimate the fair value of the Company’s commercial MSRs and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date, are presented in the following table.
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Fair value of commercial MSRs

$80

 

$77

Discount rate (annual)
12
%
 
12
%
Decline in fair value from 10% adverse change

$3

 

$3

Decline in fair value from 20% adverse change
6

 
6

Prepayment rate assumption (annual)
7
%
 
5
%
Decline in fair value from 10% adverse change

$1

 

$1

Decline in fair value from 20% adverse change
2

 
2

Weighted-average life (in years)
8.6

 
8.1

Float earnings rate (annual)
1.1
%
 
1.1
%

Commercial MSR uncertainties are hypothetical and should be used with caution.
v3.19.3
Other Assets (Notes)
 9 Months Ended
Sep. 30, 2019
Other Assets [Abstract]  
Other Assets Disclosure [Text Block]
NOTE 9 - OTHER ASSETS
The components of other assets are presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Equity securities 1:
 
 
 
Marketable equity securities:
 
 
 
Mutual fund investments

$66

 

$79

Other equity
10

 
16

Nonmarketable equity securities:
 
 
 
Federal Reserve Bank stock
403

 
403

FHLB stock
334

 
227

Other equity
84

 
68

Tax credit investments 2
1,998

 
1,722

Bank-owned life insurance
1,652

 
1,627

Lease assets:
 
 
 
Operating lease right-of-use assets 3
1,110

 
—

Underlying lessor assets
subject to operating leases, net 3
1,090

 
1,205

Build-to-suit lease assets
993

 
735

Accrued income
1,106

 
1,106

Accounts receivable
825

 
602

Pension assets, net
499

 
484

Prepaid expenses
285

 
231

OREO
52

 
54

Other
489

 
432

Total other assets

$10,996

 

$8,991

1 Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4, “Trading Assets and Liabilities and Derivative Instruments,” for more information.
2 See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
3 See Note 10, “Leases,” for additional information.
Equity Securities Not Classified as Trading Assets or Liabilities
Equity securities with readily determinable fair values (marketable) that are not held for trading purposes are recorded at fair value and include mutual fund investments and other publicly traded equity securities.
Equity securities without readily determinable fair values (nonmarketable) that are not held for trading purposes include Federal Reserve Bank of Atlanta and FHLB of Atlanta capital stock, both held at cost, as well as other equity securities that the Company elected to account for under the measurement alternative. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information on the Company’s accounting policy for equity securities.

The following table summarizes net gains/(losses) on equity securities not classified as trading assets:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Net (losses)/gains on marketable equity securities 1

($6
)
 

($4
)
 

($3
)
 

$10

Net gains/(losses) on nonmarketable equity securities:
 
 
 
 
 
 
 
Remeasurement losses and impairment
—

 
—

 
—

 
—

Remeasurement gains 1
16

 
7

 
16

 
30

Less: Net realized gains on sale
—

 
—

 
—

 
—

Total net unrealized gains on non-trading equity securities

$10

 

$3

 

$13

 

$40


1 Recognized in Other noninterest income in the Company’s Consolidated Statements of Income.
Bank-Owned Life Insurance
Bank-owned life insurance consists of life insurance policies held on certain employees for which the Company is the beneficiary. These policies provide the Company an efficient form of funding for retirement and other employee benefits costs.
Build-to-Suit Lease Assets
Build-to-suit lease assets includes assets under construction associated with the Company’s build-to-suit leasing arrangements for clients. A direct financing lease, sales-type lease, or operating lease is created after construction of the build-to-suit lease asset is complete.
Accrued Income
Accrued income consists primarily of interest and other income accrued on the Company’s LHFI. Interest income on loans, except those classified as nonaccrual, is accrued based upon the outstanding principal amounts using the effective yield method. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for information regarding the Company’s accounting policy for loans.
Accounts Receivable
Accounts receivable consists primarily of receivables from brokers, dealers, and customers related to pending loan trades, unsettled trades of securities, loan-related advances, and investment securities income due but not received. Accounts receivable also includes proceeds due from the FHA and the VA on foreclosed real estate related to loans that are insured by the FHA or guaranteed by the VA.
Pension Assets
Pension assets (net) represent the funded status of the Company’s overfunded pension and other postretirement benefits plans, measured as the difference between the fair value of plan assets and the benefit obligation at period end.
v3.19.3
Leases (Notes)
 9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Leases of Lessee and Lessor Disclosure [Text Block]
NOTE 10 - LEASES

The Company adopted ASC Topic 842, Leases, on January 1, 2019 using a modified retrospective transition approach. As permitted by ASC 842, the Company elected not to reassess (i) whether any expired or existing contracts are leases or contain leases, (ii) the lease classification of any expired or existing leases, and (iii) the initial direct costs for existing leases.

Lessee Accounting
The Company's right-of-use assets, lease liabilities, and associated balance sheet classifications are presented in the following table:
(Dollars in millions)
Classification
 
September 30, 2019
Assets:
 
 
 
Operating lease right-of-use assets
Other assets
 

$1,110

Finance lease right-of-use assets
Premises, property, and equipment, net
 
24

Total right-of-use assets
 
 

$1,134

Liabilities:
 
 
 
Operating leases
Other liabilities
 

$1,189

Finance leases
Long-term debt
 
26

Total lease liabilities
 
 

$1,215



The Company leases certain assets, consisting primarily of real estate, and assesses at contract inception whether a contract is, or contains, a lease. A right-of-use asset and lease liability is recorded on the balance sheet for all leases except those with an original lease term of twelve months or less.
The Company's leases typically have lease terms between five years and ten years, with the longest lease term having an expiration date in 2081. Most of these leases include one or more renewal options for five years or less, and certain leases also include lessee termination options. At lease commencement, the Company assesses whether it is reasonably certain to exercise a renewal option, or reasonably certain not to exercise a termination option, by considering various economic factors. Options that are reasonably certain of being exercised are factored into the determination of the lease term, and related payments are included in the calculation of the right-of-use asset and lease liability.
The Company uses its incremental borrowing rate to calculate the present value of lease payments when the interest
rate implicit in a lease is not disclosed. Variable lease payments that are linked to a certain rate or index, such as the CPI, are included in the present value of lease payments and measured using the prevailing rate or index at lease commencement, with changes in the associated rate or index recognized in earnings during the period in which the change occurs. The right-of-use asset and lease liability are not remeasured as a result of any subsequent change in the index or rate unless remeasurement is required for another reason. Variable lease payments that are not linked to a certain rate or index are comprised primarily of operating costs. The Company accounts for each separate lease component of a contract and its associated non-lease components as a single lease component for all of its real estate leases.
At September 30, 2019, the Company had operating leases that had not yet commenced with undiscounted cash flows totaling less than $100 million. Leases that do not commence until a future date generally include executed ground and office space leases where construction is underway and the Company does not control the underlying asset during the construction.


The components of total lease cost and other supplemental lease information are presented in the following tables:
(Dollars in millions)
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Components of total lease cost:
 
 
 
Operating lease cost

$49

 

$152

Finance lease cost:
 
 
 
Amortization of right-of-use assets
1

 
3

Variable lease cost
10

 
27

Less: Sublease income
(1
)
 
(4
)
Total lease cost, net

$59

 

$178



(Dollars in millions)
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Supplemental lease information
 
 
 
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows from operating leases

$47

 

$144

Operating cash flows from finance leases
1

 
1

Financing cash flows from finance leases
3

 
5

 
 
 
 
Lease liabilities arising from obtaining right-of-use assets (subsequent to adoption):
 
 
 
Operating leases
7

 
30

Finance leases
—

 
11



Weighted average remaining lease terms and discount rates are presented in the following table:
(Dollars in millions)
September 30, 2019
Weighted-average remaining lease term (in years):
 
Operating leases
8.0

Finance leases
7.0

Weighted-average discount rate (annual):
 
Operating leases
3.3
%
Finance leases
6.6



The following table presents a maturity analysis of the Company's operating and finance lease liabilities at September 30, 2019:
(Dollars in millions)
Operating Leases
 
Finance Leases
 
Total
Year 1

$185

 

$5

 

$190

Year 2
194

 
5

 
199

Year 3
179

 
5

 
184

Year 4
158

 
5

 
163

Year 5
140

 
3

 
143

Thereafter
518

 
11

 
529

Total lease payments
1,374

 
34

 
1,408

Less: Imputed interest
(185
)
 
(8
)
 
(193
)
Present value of lease liabilities

$1,189

 

$26

 

$1,215



Lessor Accounting
The Company’s two primary lessor businesses are equipment financing and structured real estate. In addition, the Company is the lessor in circumstances where a portion of its corporate owned real estate is leased to other tenants.
Payment terms are typically fixed; however, some agreements contain variable lease payments linked to an index or rate, such as the CPI or LIBOR. In certain agreements, lease payments increase based on a fixed percentage after a set duration of time. Variable lease payments that are based on an index or rate are included in the net lease investment for sales-type or direct financing leases, and are included in lease receivables for operating leases using the prevailing index or rate at lease commencement. The Company has elected to exclude its sales tax collection and remission activity from being reported as lease revenue with an associated expense.
The Company’s leases generally do not contain non-lease components. If a lease does contain non-lease components, the Company has elected not to separate lease and non-lease components for each class of underlying asset in which it is the lessor, when the timing and patterns of revenue recognition for the components are the same, and the lease component, if accounted for separately, would be classified as an operating lease.
Equipment Financing
The Company finances various types of essential-use business equipment, such as transportation and construction equipment, under operating, sales-type, and direct financing leases. Lease terms are generally noncancelable and range between three years and fifteen years. Most lease agreements contain renewal options that range from one month to three years, and are generally reset at the effective fair market value at time of renewal. Certain lease agreements also include an option to purchase the lease asset at least twelve months prior to the end of the lease term.
The Company evaluates various inputs when estimating the amount it expects to derive from the underlying asset following the end of the lease term, including but not limited to, appraisals and inputs from third party sources, and historical portfolio experience. The Company manages residual risk on an individual lease basis, and in certain cases, obtains lessee residual value guarantees or enters into remarketing agreements in the event of lessee default or lease termination. The Company performs a review of residual risk annually and obtains a third party appraisal for the majority of leased assets. At September 30, 2019, the carrying amount of residual assets covered by residual value guarantees was $106 million.
Structured Real Estate
The Company offers structured real estate arrangements, including build-to-suit arrangements, whereby real property is leased to corporate clients under operating, sales-type, and direct financing leases. These leases typically have noncancelable terms that range between fifteen years and twenty years as well as multiple renewal options that can extend a lease up to an additional twenty years. These leases generally do not have termination or purchase options.
When a lease asset is acquired, the amount the Company expects to derive from the underlying asset is estimated using
property appraisal values and assumptions regarding the economic life of the asset. The Company manages residual risk through continuous monitoring of the associated asset and credit quality of the lessee, which may include site visits to view the property and surrounding area. In certain cases, the Company may obtain third party residual value guarantees. In most instances, there are no lessee residual value guarantees. Assets are reviewed at least annually for impairment. At September 30, 2019, the carrying amount of residual assets covered by residual value guarantees was $12 million.


The components of total lease income are presented in the following table:
(Dollars in millions)
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Interest income from sales-type and direct financing leases

$37

 

$111

Lease income relating to operating leases
52

 
157

Lease income relating to variable lease payments not included in the measurement of the lease receivable
1

 
3

Total lease income

$90

 

$271




Components of the Company's net investment in sales-type and direct financing leases are presented in the following table:
(Dollars in millions)
September 30, 2019
Carrying amount of lease receivables

$3,657

Unguaranteed residual assets
149

Net investment in sales-type and direct financing lease assets 1

$3,806


1 Included in LHFS and LHFI on the Company's Consolidated Balance Sheets.


The following table presents a maturity analysis of the Company's sales-type and direct financing lease receivables at September 30, 2019:
(Dollars in millions)
Sales-Type and Direct Financing Leases
Year 1

$876

Year 2
746

Year 3
585

Year 4
411

Year 5
328

Thereafter
1,256

Total lease receivables
4,202

Less: Reconciling items 1
(545
)
Present value of lease receivables

$3,657


1 Primarily comprised of interest and guaranteed residual assets.


The following table presents a maturity analysis of the Company's operating lease payments to be received as of September 30, 2019:
(Dollars in millions)
Operating Leases
Year 1

$191

Year 2
155

Year 3
127

Year 4
95

Year 5
94

Thereafter
225

Total lease payments to be received

$887




Underlying lessor assets subject to operating leases at September 30, 2019 consisted of the following:
(Dollars in millions)
Useful life
(in years)
 
September 30, 2019
Underlying lessor assets subject to operating leases: 1
 
 
 
Real estate 2
15 - 20
 

$116

Equipment
2 - 30
 
1,539

Total underlying lessor assets subject to operating leases
 
 
1,655

Less: Accumulated depreciation
 
 
(565
)
Underlying lessor assets subject to operating leases, net 3
 
 

$1,090


1 Excludes owned assets subject to operating leases that are held and used by the Company and which are included in Premises, property, and equipment, net, on the Company's Consolidated Balance Sheets.
2 Includes certain land parcels subject to operating leases that have indefinite lives.
3 Included in Other Assets on the Company's Consolidated Balance Sheets.


Depreciation expense on underlying assets subject to operating leases for the three and nine months ended September 30, 2019 totaled $35 million and $106 million, respectively.
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities
 9 Months Ended
Sep. 30, 2019
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract]  
Transfers and Servicing of Financial Assets [Text Block]
NOTE 11 - CERTAIN TRANSFERS OF FINANCIAL ASSETS AND VARIABLE INTEREST ENTITIES
The Company has transferred loans and securities in sale or securitization transactions for which the Company retains certain beneficial interests, servicing rights, and/or recourse. These transfers of financial assets include certain residential mortgage loans, guaranteed student loans, and commercial loans, as discussed in the following section, "Transfers of Financial Assets." Cash receipts on beneficial interests held related to these transfers were immaterial for the three and nine months ended September 30, 2019 and 2018.
When a transfer or other transaction occurs with a VIE, the Company first determines whether it has a VI in the VIE. A VI is typically in the form of securities representing retained interests in transferred assets and, at times, servicing rights, and for commercial mortgage loans sold to Fannie Mae, the loss share guarantee. See Note 15, “Guarantees,” for further discussion of the Company's loss share guarantee. When determining whether to consolidate the VIE, the Company evaluates whether it is a primary beneficiary which has both (i) the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) the obligation to absorb losses, or the right to receive benefits, that could potentially be significant to the VIE.
To determine whether a transfer should be accounted for as a sale or a secured borrowing, the Company evaluates whether: (i) the transferred assets are legally isolated, (ii) the transferee has the right to pledge or exchange the transferred assets, and (iii) the Company has relinquished effective control of the transferred assets. If all three conditions are met, then the transfer is accounted for as a sale.
Except as specifically noted herein, the Company is not required to provide additional financial support to any of the entities to which the Company has transferred financial assets, nor has the Company provided any support it was not otherwise obligated to provide. No events occurred during the nine months ended September 30, 2019 that changed the Company’s previous conclusions regarding whether it is the primary beneficiary of the VIEs described herein. Furthermore, no events occurred during the nine months ended September 30, 2019 that changed the Company’s sale conclusion with regards to previously transferred residential mortgage loans, guaranteed student loans, or commercial loans.
Transfers of Financial Assets
The following discussion summarizes transfers of financial assets to entities for which the Company has retained some level of continuing involvement.
Consumer Loans
Residential Mortgage Loans
The Company typically transfers first lien residential mortgage loans in conjunction with Ginnie Mae, Fannie Mae, and Freddie Mac securitization transactions, whereby the loans are exchanged for cash or securities that are readily redeemable for cash, and servicing rights are retained.
The Company sold residential mortgage loans to Ginnie Mae, Fannie Mae, and Freddie Mac, which resulted in pre-tax net gains of $108 million and $223 million for the three and nine months ended September 30, 2019, and pre-tax net gains of $46 million and $53 million for the three and nine months ended September 30, 2018, respectively. Net gains/losses on the sale of residential mortgage LHFS are recorded at inception of the associated IRLCs and reflect the change in value of the loans resulting from changes in interest rates from the time the Company enters into the related IRLCs with borrowers until the loans are sold, but do not include the results of hedging activities initiated by the Company to mitigate this market risk. See Note 16, "Derivative Financial Instruments," for further discussion of the Company's hedging activities. The Company has made certain representations and warranties with respect to the transfer of these loans. See Note 15, “Guarantees,” for additional information regarding representations and warranties.

Guaranteed Student Loans
The Company has securitized government-guaranteed student loans through a transfer of loans to a securitization entity and retained the residual interest in the entity. The Company concluded that this entity should be consolidated because the Company has (i) the power to direct the activities that most significantly impact the economic performance of the VIE and (ii) the obligation to absorb losses, and the right to receive benefits, that could potentially be significant. At September 30, 2019 and December 31, 2018, the Company’s Consolidated Balance Sheets reflected $147 million and $165 million of assets
held by the securitization entity and $143 million and $161 million of debt issued by the entity, respectively, inclusive of related accrued interest.
To the extent that the securitization entity incurs losses on its assets, the securitization entity has recourse to the guarantor of the underlying loan, which is backed by the Department of Education up to a maximum guarantee of 98%, or in the event of death, disability, or bankruptcy, 100%. When not fully guaranteed, losses reduce the amount of available cash payable to the Company as the owner of the residual interest. To the extent that losses result from a breach of servicing responsibilities, the Company, which functions as the master servicer, may be required to repurchase the defaulted loan(s) at par value. If the breach was caused by the subservicer, the Company would seek reimbursement from the subservicer up to the guaranteed amount. The Company’s maximum exposure to loss related to the securitization entity would arise from a breach of its servicing responsibilities. To date, loss claims filed with the guarantor that have been denied due to servicing errors have either been, or are in the process of being cured, or reimbursement has been provided to the Company by the subservicer, or in limited cases, absorbed by the Company.
Commercial Loans
The Company originates and sells certain commercial mortgage loans to Fannie Mae and Freddie Mac, originates FHA insured loans, and issues and sells Ginnie Mae commercial MBS secured by FHA insured loans. The Company transferred commercial loans to these Agencies and GSEs, which resulted in pre-tax net gains of $9 million and $28 million for the three and nine months ended September 30, 2019, and pre-tax net gains of $8 million and $22 million for the three and nine months ended September 30, 2018, respectively. The loans are exchanged for cash or securities that are readily redeemable for cash, with servicing rights retained. The Company has made certain representations and warranties with respect to the transfer of these loans and has entered into a loss share guarantee related to certain loans transferred to Fannie Mae. See Note 15, “Guarantees,” for additional information regarding the commercial mortgage loan loss share guarantee.

The Company's total managed loans, including the LHFI portfolio and other transferred loans (securitized and unsecuritized), are presented in the following table by portfolio balance and delinquency status (accruing loans 90 days or more past due and all nonaccrual loans) at September 30, 2019 and December 31, 2018, as well as the related net charge-offs for the three and nine months ended September 30, 2019 and 2018.
 
Portfolio Balance
 
Past Due and Nonaccrual
 
Net Charge-offs
 
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
(Dollars in millions)
 
2019
 
2018
 
2019
 
2018
 
LHFI portfolio:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial

$85,007

 

$80,940

 

$366

 

$175

 

$30

 

$42

 

$74

 

$76

 
Consumer
73,448

 
70,899

 
1,627

 
2,003

 
82

 
46

 
220

 
164

 
Total LHFI portfolio
158,455

 
151,839

 
1,993

 
2,178

 
112

 
88

 
294

 
240

 
Managed securitized loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial 1
7,391

 
6,399

 
7

 
—

 
—

 
—

 
—

 
—

 
Consumer
134,515

 
139,809

 
114

 
146

 
—

2 
1

2 
1

2 
5

2 
Total managed securitized loans
141,906

 
146,208

 
121

 
146

 
—

 
1

 
1

 
5

 
Managed unsecuritized loans 3
514

 
1,134

 
61

 
152

 
—

 
—

 
—

 
—

 
Total managed loans

$300,875

 

$299,181

 

$2,175

 

$2,476

 

$112

 

$89

 

$295

 

$245

 

1 Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company.
2 Amounts associated with $212 million and $387 million of managed securitized loans at September 30, 2019 and December 31, 2018, respectively. Net charge-off data is not reported to the Company for the remaining balance of $134.3 billion and $139.4 billion of managed securitized loans at September 30, 2019 and December 31, 2018, respectively.
3 Comprised of unsecuritized loans the Company originated and sold to private investors with servicing rights retained. Net charge-offs on these loans are not presented in the table as the data is not reported to the Company by the private investors that own these related loans.


Other Variable Interest Entities
In addition to exposure to VIEs arising from transfers of financial assets, the Company also has involvement with VIEs from other business activities.
Tax Credit Investments
The following table presents information related to the Company's investments in tax credit VIEs that it does not consolidate:
 
Community Development Investments
 
Renewable Energy Partnerships
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Carrying value of investments 1

$1,943

 

$1,636

 

$55

 

$86

Maximum exposure to loss related to investments 2
2,379

 
2,207

 
241

 
138

1 At September 30, 2019 and December 31, 2018, the carrying value of community development investments excludes $67 million and $68 million of investments in funds that do not qualify for tax credits, respectively.
2 At September 30, 2019 and December 31, 2018, the Company's maximum exposure to loss related to community development investments includes $470 million and $422 million of loans and $593 million and $639 million of unfunded equity commitments, respectively. At September 30, 2019 and December 31, 2018, the Company's maximum exposure to loss related to renewable energy partnerships includes $186 million and $52 million of unfunded equity commitments, respectively.

Community Development Investments
The Company invests in multi-family affordable housing partnership developments and other community development entities as a limited partner and/or a lender. The carrying value of these investments is recorded in Other assets on the Company’s Consolidated Balance Sheets. The Company receives tax credits for its limited partner investments, which are recorded in Provision for income taxes in the Company's Consolidated Statements of Income. Amortization recognized on qualified affordable housing partnerships is recorded in the Provision for income taxes, net of the related tax benefits, in the Company's Consolidated Statements of Income. Amortization recognized on other community development investments is recorded in Amortization in the Company's Consolidated
Statements of Income. The Company has determined that the majority of the related partnerships are VIEs.
The Company has concluded that it is not the primary beneficiary of these investments when it invests as a limited partner and there is a third party general partner. The general partner, or an affiliate of the general partner, often provides guarantees to the limited partner, which protects the Company from construction and operating losses and tax credit allocation deficits. The Company’s maximum exposure to loss would result from the loss of its limited partner investments, net of liabilities, along with loans or interest rate swap exposures related to these investments as well as unfunded equity commitments that the Company is required to fund if certain conditions are met.

The following table presents tax credits and amortization associated with the Company’s investments in community development investments:
 
Tax Credits
 
Amortization
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Qualified affordable housing partnerships

$33

 

$28

 

$98

 

$87

 

$35

 

$29

 

$103

 

$92

Other community development investments
25

 
23

 
64

 
62

 
21

 
19

 
53

 
49




Renewable Energy Partnerships
In the second quarter of 2018, the Company began investing in entities that promote renewable energy sources as a limited partner. The carrying value of these renewable energy partnership investments is recorded in Other assets on the Company’s Consolidated Balance Sheets, and the associated tax credits received for these investments are recorded as a reduction to the carrying value of these investments. The Company has determined that these renewable energy tax credit partnerships are VIEs.
The Company has concluded that it is not the primary beneficiary of these VIEs because it does not have the power to direct the activities that most significantly impact the VIEs' financial performance and therefore, it is not required to consolidate these VIEs. The Company’s maximum exposure to loss related to these investments is comprised of its equity investments in these partnerships and any additional unfunded equity commitments.
Total Return Swaps
At September 30, 2019 and December 31, 2018, the outstanding notional amount of the Company's VIE-facing TRS contracts totaled $2.5 billion and $2.0 billion, and related loans outstanding to VIEs totaled $2.5 billion and $2.0 billion, respectively. These financings were measured at fair value and classified within Trading assets and derivative instruments on the Consolidated Balance Sheets. The Company entered into client-facing TRS contracts of the same outstanding notional amounts. The notional amounts of the TRS contracts with VIEs represent the Company’s maximum exposure to loss, although this exposure has been mitigated via the TRS contracts with clients. For additional information on the Company’s TRS contracts and its involvement with these VIEs, see Note 16, “Derivative Financial Instruments,” as well as Note 12, "Certain Transfers of Financial Assets and Variable Interest Entities," to the Company's 2018 Annual Report on Form 10-K.
v3.19.3
Net Income Per Common Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Net Income/(Loss) Per Share
NOTE 12 – NET INCOME PER COMMON SHARE
Reconciliations of net income to net income available to common shareholders and average basic common shares outstanding to
average diluted common shares outstanding are presented in the following table.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars and shares in millions, except per share data)
2019
 
2018
 
2019
 
2018
Net income

$623

 

$752

 

$1,891

 

$2,117

Less:
 
 
 
 
 
 
 
Preferred stock dividends
(26
)
 
(26
)
 
(77
)
 
(81
)
Net income available to common shareholders

$597

 

$726

 

$1,814

 

$2,036

 
 
 
 
 
 
 
 
Average common shares outstanding - basic
444.0

 
460.3

 
443.8

 
464.8

Add dilutive securities:
 
 
 
 
 
 
 
RSUs
2.6

 
3.0

 
2.4

 
2.8

Common stock warrants, options, and restricted stock
0.4

 
0.9

 
0.5

 
1.4

Average common shares outstanding - diluted
447.0

 
464.2

 
446.7

 
469.0

 
 
 
 
 
 
 
 
Net income per average common share - diluted

$1.34

 

$1.56

 

$4.06

 

$4.34

Net income per average common share - basic
1.35

 
1.58

 
4.09

 
4.38
v3.19.3
Income Taxes
 9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
NOTE 13 - INCOME TAXES
For the three months ended September 30, 2019 and 2018, the provision for income taxes was $122 million and $95 million, representing effective tax rates of 16% and 11%, respectively. For the nine months ended September 30, 2019 and 2018, the provision for income taxes was $330 million and $412 million, representing effective tax rates of 15% and 16%, respectively. The effective tax rates for the nine months ended September 30, 2019 and 2018 were favorably impacted by $56 million and $71 million of net discrete income tax benefits, respectively.
The $56 million net discrete income tax benefit for the nine months ended September 30, 2019 was driven by $33 million of tax benefits related to changes in the liability for unrecognized tax benefits due to the completion of certain income tax authority
examinations and the expiration of statutes of limitation, $12 million of tax benefits related to stock-based compensation, and $11 million of tax benefits related primarily to federal and state income tax true-ups.
The provision for income taxes includes both federal and state income taxes and differs from the provision using statutory rates due primarily to favorable permanent tax items such as interest income from lending to tax-exempt entities, tax credits, and amortization expense related to qualified affordable housing investment costs. The Company calculated the provision for income taxes by applying the estimated annual effective tax rate to year-to-date pre-tax income and adjusting for discrete items that occurred during the period.
v3.19.3
Employee Benefit Plans
 9 Months Ended
Sep. 30, 2019
Defined Contribution Plan Disclosure [Line Items]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
NOTE 14 - EMPLOYEE BENEFIT PLANS
The Company sponsors various compensation and benefit programs to attract and retain talent. Aligned with a pay for performance culture, the Company's plans and programs include short-term incentives, AIP, and various LTI plans. See Note 17, “Employee Benefit Plans,” to the Company's 2018 Annual
Report on Form 10-K for additional information regarding the Company's employee benefit plans.
Stock-based compensation expense recognized in Employee compensation in the Consolidated Statements of Income consisted of the following:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
RSUs

$30

 

$21

 

$84

 

$82

Phantom stock units 1
3

 
10

 
28

 
36

Total stock-based compensation expense

$33

 

$31

 

$112

 

$118

 
 
 
 
 
 
 
 
Stock-based compensation tax benefit 2

$8

 

$8

 

$27

 

$28

1 Phantom stock units are settled in cash. During the three and nine months ended September 30, 2019, the Company paid less than $1 million and $44 million, respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2018, the Company paid $1 million and $76 million, respectively, related to these share-based liabilities.
2 Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income.


Components of net periodic benefit related to the Company's pension and other postretirement benefits plans are presented in the following table and are recognized in Employee benefits in the Consolidated Statements of Income:
 
Pension Benefits 1
 
Other Postretirement Benefits
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Service cost

$1

 

$1

 

$4

 

$4

 

$—

 

$—

 

$—

 

$—

Interest cost
23

 
23

 
70

 
68

 
—

 
—

 
1

 
1

Expected return on plan assets
(36
)
 
(47
)
 
(110
)
 
(140
)
 
(1
)
 
(1
)
 
(4
)
 
(4
)
Amortization of prior service credit
—

 
—

 
—

 
—

 
(1
)
 
(2
)
 
(4
)
 
(5
)
Amortization of actuarial loss
6

 
6

 
18

 
17

 
—

 
—

 
—

 
—

Net periodic benefit

($6
)
 

($17
)
 

($18
)
 

($51
)
 

($2
)
 

($3
)
 

($7
)
 

($8
)
1 Administrative fees are recognized in service cost for each of the periods presented.
v3.19.3
Guarantees
 9 Months Ended
Sep. 30, 2019
Guarantees [Abstract]  
Guarantees
NOTE 15 – GUARANTEES
The Company has undertaken certain guarantee obligations in the ordinary course of business. The issuance of a guarantee imposes an obligation for the Company to stand ready to perform and make future payments should certain triggering events occur. Payments may be in the form of cash, financial instruments, other assets, shares of stock, or through provision of the Company’s services. The following is a discussion of the guarantees that the Company has issued at September 30, 2019. The Company has also entered into certain contracts that are similar to guarantees, but that are accounted for as derivative instruments as discussed in Note 16, “Derivative Financial Instruments.”

Letters of Credit
Letters of credit are conditional commitments issued by the Company, generally to guarantee the performance of a client to a third party in borrowing arrangements, such as CP, bond financing, or similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to clients but may be reduced by selling participations to third parties. The Company issues letters of credit that are classified as financial standby, performance standby, or commercial letters of credit; however, commercial letters of credit are considered guarantees of funding and are not subject to the disclosure requirements of guarantee obligations.
At September 30, 2019 and December 31, 2018, the maximum potential exposure to loss related to the Company’s issued letters of credit was $2.6 billion and $2.9 billion, respectively. The Company’s outstanding letters of credit generally have a term of more than one year. Some standby letters of credit are designed to be drawn upon in the normal course of business and others are drawn upon only in circumstances of dispute or default in the underlying transaction to which the Company is not a party. In all cases, the Company is entitled to reimbursement from the client. If a letter of credit is drawn upon and reimbursement is not provided by the client, the Company may take possession of the collateral securing the letter of credit, where applicable.
The Company monitors its credit exposure under standby letters of credit in the same manner as it monitors other extensions of credit in accordance with its credit policies. Consistent with the methodologies used for all commercial borrowers, an internal assessment of the PD and loss severity in the event of default is performed. The Company’s credit risk management for letters of credit leverages the risk rating process to focus greater visibility on higher risk and higher dollar letters of credit. The allowance associated with letters of credit is a component of the unfunded commitments reserve recorded in Other liabilities on the Consolidated Balance Sheets and is included in the allowance for credit losses as disclosed in Note 7, “Allowance for Credit Losses.” Additionally, unearned fees relating to letters of credit are recorded in Other liabilities on the Consolidated Balance Sheets. The net carrying amount of unearned fees was immaterial at both September 30, 2019 and December 31, 2018.

Loan Sales and Servicing
The Company originates and purchases residential mortgage loans, a portion of which are sold to outside investors in the normal course of business through a combination of whole loan sales to GSEs, Ginnie Mae, and non-agency investors. The Company also originates and sells certain commercial mortgage loans to Fannie Mae and Freddie Mac, originates FHA insured loans, and issues and sells Ginnie Mae commercial MBS secured by FHA insured loans.
When loans are sold, representations and warranties regarding certain attributes of the loans are made to third party purchasers. Subsequent to the sale, if a material underwriting deficiency or documentation defect is discovered, the Company may be obligated to repurchase the loan or to reimburse an investor for losses incurred (make whole requests), if such deficiency or defect cannot be cured by the Company within the specified period following discovery. These representations and warranties may extend through the life of the loan. In addition to representations and warranties related to loan sales, the Company makes representations and warranties that it will service the loans in accordance with investor servicing guidelines and standards, which may include (i) collection and remittance of principal and interest, (ii) administration of escrow for taxes and insurance, (iii) advancing principal, interest, taxes, insurance, and collection expenses on delinquent accounts, and (iv) loss mitigation strategies, including loan modifications and foreclosures.
The following table summarizes the changes in the Company’s reserve for residential mortgage loan repurchases:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Balance, beginning of period

$23

 

$36

 

$26

 

$39

Repurchase (benefit)/provision
(1
)
 
1

 
(4
)
 
(2
)
Charge-offs, net of recoveries
—

 
(1
)
 
—

 
(1
)
Balance, end of period

$22

 

$36

 

$22

 

$36



A significant degree of judgment is used to estimate the mortgage repurchase liability as the estimation process is inherently uncertain and subject to imprecision. The Company believes that its reserve appropriately estimates incurred losses based on its current analysis and assumptions. While the mortgage repurchase reserve includes the estimated cost of settling claims related to required repurchases, the Company’s estimate of losses depends on its assumptions regarding GSE and other counterparty behavior, loan performance, home prices, and other factors. The liability is recorded in Other liabilities on the Consolidated Balance Sheets, and the related repurchase (benefit)/provision is recognized in Mortgage-related income in the Consolidated Statements of Income.
The following table summarizes the carrying value of the Company’s outstanding repurchased residential mortgage loans:
(Dollars in millions)
September 30,
2019
 
December 31, 2018
Outstanding repurchased residential mortgage loans:
Performing LHFI

$135

 

$183

Nonperforming LHFI
9

 
16

Total carrying value of outstanding repurchased residential mortgages

$144

 

$199


Residential mortgage loans sold to Ginnie Mae are insured by the FHA or are guaranteed by the VA. As servicer, the Company may elect to repurchase delinquent loans in accordance with Ginnie Mae guidelines; however, the loans continue to be insured. The Company may also indemnify the FHA and VA for losses related to loans not originated in accordance with their guidelines.
Commercial Mortgage Loan Loss Share Guarantee
In connection with the acquisition of Pillar, the Company assumed a loss share obligation associated with the terms of a master loss sharing agreement with Fannie Mae for multi-family commercial mortgage loans that were sold by Pillar to Fannie Mae under Fannie Mae’s delegated underwriting and servicing program. Upon the acquisition of Pillar, the Company entered into a lender contract amendment with Fannie Mae for multi-family commercial mortgage loans that Pillar sold to Fannie Mae prior to acquisition and that the Company sold to Fannie Mae subsequent to acquisition, whereby the Company bears a risk of loss of up to one-third of the incurred losses resulting from borrower defaults. The breach of any representation or warranty related to a loan sold to Fannie Mae could increase the Company’s level of risk-sharing associated with the loan. The outstanding UPB of loans sold subject to the loss share guarantee was $3.9 billion and $3.5 billion at September 30, 2019 and December 31, 2018, respectively. The maximum potential exposure to loss was $1.2 billion and $1.0 billion at September 30, 2019 and December 31, 2018, respectively. Using probability of default and severity of loss estimates, the Company’s loss share liability was $7 million and $5 million at September 30, 2019 and December 31, 2018, respectively, and is recorded in Other liabilities on the Consolidated Balance Sheets.
Visa
The Company executes credit and debit transactions through Visa and Mastercard. The Company is a defendant, along with Visa and Mastercard (the “Card Associations”), as well as other banks, in one of several antitrust lawsuits challenging the practices of the Card Associations (the “Litigation”). The Company entered into judgment and loss sharing agreements with Visa and certain other banks in order to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the Litigation. Additionally, in connection with Visa’s restructuring in 2007, shares of Visa common stock were issued to its financial institution members and the Company received its proportionate number of shares of Visa Inc. common stock, which were subsequently converted to Class B shares of Visa Inc. upon completion of Visa’s IPO in
2008. A provision of the original Visa By-Laws, which was restated in Visa’s certificate of incorporation, contains a general indemnification provision between a Visa member and Visa that explicitly provides that each member’s indemnification obligation is limited to losses arising from its own conduct and the specifically defined Litigation. While the district court approved a class action settlement of the Litigation in 2012 that settled the claims of both a damages class and an injunctive relief class, the U.S. Court of Appeals for the Second Circuit reversed the district court’s approval of the settlement on June 30, 2016. The U.S. Supreme Court denied plaintiffs’ petition for certiorari on March 27, 2017, and the case returned to the district court for further action. Since being remanded to the district court, plaintiffs have pursued two separate class actions—one class action seeking damages that names, among others, the Company as a defendant, and one class action seeking injunctive relief that does not name the Company as a defendant, but for which the Company could bear some responsibility under the judgment and loss sharing agreement described above. An agreement to resolve the claims was reached and the settlement was preliminarily approved by the district court on January 24, 2019.
Agreements associated with Visa’s IPO have provisions that Visa will fund a litigation escrow account, established for the purpose of funding judgments in, or settlements of, the Litigation. If the escrow account is insufficient to cover the Litigation losses, then Visa will issue additional Class A shares (“loss shares”). The proceeds from the sale of the loss shares would then be deposited in the escrow account. The issuance of the loss shares will cause a dilution of Visa’s Class B shares as a result of an adjustment to lower the conversion factor of the Class B shares to Class A shares. Visa U.S.A.’s members are responsible for any portion of the settlement or loss on the Litigation after the escrow account is depleted and the value of the Class B shares is fully diluted.
In May 2009, the Company sold its 3.2 million Class B shares to the Visa Counterparty and entered into a derivative with the Visa Counterparty. Under the derivative, the Visa Counterparty is compensated by the Company for any decline in the conversion factor as a result of the outcome of the Litigation. Conversely, the Company is compensated by the Visa Counterparty for any increase in the conversion factor. The amount of payments made or received under the derivative is a function of the 3.2 million shares sold to the Visa Counterparty, the change in conversion rate, and Visa’s share price. The Visa Counterparty, as a result of its ownership of the Class B shares, is impacted by dilutive adjustments to the conversion factor of the Class B shares caused by the Litigation losses. Additionally, the Company will make periodic payments based on the notional of the derivative and a fixed rate until the date on which the Litigation is settled. The fair value of the derivative is estimated based on unobservable inputs consisting of management’s estimate of certain litigation scenarios and the timing of the resolution of the Litigation. The fair value of the derivative liability was $8 million and $7 million at September 30, 2019 and December 31, 2018, respectively. The fair value of the derivative is estimated based on the Company’s expectations regarding the resolution of the Litigation. The ultimate impact to the Company could be significantly different based on the Litigation outcome.
v3.19.3
Derivative Financial Instruments
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
NOTE 16 - DERIVATIVE FINANCIAL INSTRUMENTS
The Company enters into various derivative financial instruments, both in a dealer capacity to facilitate client transactions and as an end user as a risk management tool. The Company generally manages the risk associated with these derivatives within the established market risk management and credit risk management frameworks. Derivatives may be used by the Company to hedge various economic or client-related exposures. In such instances, derivative positions are typically monitored using a VAR methodology, with exposures reviewed daily. Derivatives are also used as a risk management tool to hedge the Company’s balance sheet exposure to changes in identified cash flow and fair value risks, either economically or in accordance with hedge accounting provisions. The Company’s Corporate Treasury function is responsible for employing the various hedge strategies to manage these objectives. The Company enters into IRLCs on residential and commercial mortgage loans that are accounted for as freestanding derivatives. Additionally, certain contracts containing embedded derivatives are measured, in their entirety, at fair value. All derivatives, including both freestanding and any embedded derivatives that the Company bifurcates from the host contracts, are measured at fair value in the Consolidated Balance Sheets in Trading assets and derivative instruments and Trading liabilities and derivative instruments. The associated gains and losses are either recognized in AOCI, net of tax, or within the Consolidated Statements of Income, depending upon the use and designation of the derivatives.

Credit and Market Risk Associated with Derivative Instruments
Derivatives expose the Company to risk that the counterparty to the derivative contract does not perform as expected. The Company manages its exposure to counterparty credit risk associated with derivatives by entering into transactions with counterparties with defined exposure limits based on their credit quality and in accordance with established policies and procedures. All counterparties are reviewed regularly as part of the Company’s credit risk management practices and appropriate action is taken to adjust the exposure limits to certain counterparties as necessary. The Company’s derivative transactions are generally governed by ISDA agreements or other legally enforceable industry standard master netting agreements. In certain cases and depending on the nature of the underlying derivative transactions, bilateral collateral agreements are also utilized. Furthermore, the Company and its subsidiaries are subject to OTC derivative clearing requirements, which require certain derivatives to be cleared through central clearing houses, such as LCH and the CME. These clearing houses require the Company to post initial and variation margin to mitigate the risk of non-payment, the latter of which is received or paid daily based on the net asset or liability position of the contracts. Effective January 3, 2017, the CME amended its rulebook to legally characterize variation margin cash payments for cleared OTC derivatives as settlement rather than as collateral. Consistent with the CME's amended requirements, LCH
amended its rulebook effective January 16, 2018, to legally characterize variation margin cash payments for cleared OTC derivatives as settlement rather than as collateral. As a result, in the first quarter of 2018, the Company began reducing the corresponding derivative asset and liability balances for LCH-cleared OTC derivatives to reflect the settlement of those positions via the exchange of variation margin.
When the Company has more than one outstanding derivative transaction with a single counterparty, and there exists a legal right of offset with that counterparty, the Company considers its exposure to the counterparty to be the net fair value of its derivative positions with that counterparty. If the net fair value is positive, then the corresponding asset value also reflects cash collateral held. At September 30, 2019, the economic exposure of these net derivative asset positions was $1.4 billion, reflecting $1.8 billion of net derivative gains, adjusted for cash and other collateral of $374 million that the Company held in relation to these positions. At December 31, 2018, the economic exposure of net derivative asset positions was $541 million, reflecting $891 million of net derivative gains, adjusted for cash and other collateral held of $350 million.
Derivatives also expose the Company to market risk arising from the adverse effects that changes in market factors, such as interest rates, currency rates, equity prices, commodity prices, or implied volatility, may have on the value of the Company's derivatives. The Company manages this risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. The Company measures its market risk exposure using a VAR methodology for derivatives designated as trading instruments. Other tools and risk measures are also used to actively manage risk associated with derivatives including scenario analysis and stress testing.
Derivative instruments are priced using observable market inputs at a mid-market valuation point and take into consideration appropriate valuation adjustments for collateral, market liquidity, and counterparty credit risk. For purposes of determining fair value adjustments to its OTC derivative positions, the Company takes into consideration the credit profile and likelihood of default by counterparties, the CVA, the Company’s own credit risk, the DVA, as well as the Company's net exposure, which considers legally enforceable master netting agreements and collateral along with remaining maturities. In determining the CVA, the expected loss associated with each counterparty is estimated using market-based views of counterparty default probabilities observed in the single-name CDS market, when available and of sufficient liquidity. When single-name CDS market data is not available or not of sufficient liquidity, the probability of default is estimated using a combination of the Company’s internal risk rating system and sector/rating based CDS data. For purposes of estimating the DVA, the Company uses probabilities of default from observable, sector/rating based CDS data. For additional information on the Company’s fair value measurements, see Note 17, “Fair Value Election and Measurement.”

Currently, the industry standard master netting agreements governing the majority of the Company's derivative transactions with counterparties contain bilateral events of default and acceleration provisions related to the creditworthiness of the Bank and the counterparty. Should the Bank or a counterparty default under any of these provisions, the other party would be permitted to close out the transactions on a net basis, at amounts that would approximate the fair values of the derivatives, resulting in a single sum due by one party to the other. The non-defaulting counterparty would have the right to apply any collateral posted under a CSA against the net amount owed by the defaulting counterparty. Additionally, certain of the Company’s derivative liability positions, totaling $1.4 billion and $589 million in fair value at September 30, 2019 and December 31, 2018, respectively, contain provisions conditioned on downgrades of the Bank’s credit rating. These provisions, if triggered, would either give rise to an ATE that permits the counterparties to close-out net and apply collateral or, where a CSA is present, require the Bank to post additional collateral.
At September 30, 2019, the Bank held senior long-term debt credit ratings of Baal/A-/A- from Moody’s, S&P, and Fitch, respectively. At September 30, 2019, ATEs have been triggered for less than $1 million in fair value liabilities. The maximum additional liability that could be triggered from ATEs was approximately $19 million at September 30, 2019. At
September 30, 2019, $1.4 billion in fair value of derivative liabilities were subject to CSAs, against which the Bank has posted $958 million in collateral, primarily in the form of cash. Pursuant to the terms of the CSA, the Bank would not be required to post any additional collateral against these contracts if the Bank were downgraded to Baa2/BBB+. Further downgrades to Baa3/BBB and Ba1/BBB- would require the Bank to post an additional $1 million and $8 million of collateral, respectively. Any downgrades below Ba2/BB+ do not contain predetermined collateral posting levels.
Notional and Fair Value of Derivative Positions
The following table presents the Company’s derivative positions at September 30, 2019 and December 31, 2018. The notional amounts in the table are presented on a gross basis at September 30, 2019 and December 31, 2018. Gross positive and gross negative fair value amounts associated with respective notional amounts are presented without consideration of any netting agreements, including collateral arrangements. Net fair value derivative amounts are adjusted on an aggregate basis, where applicable, to take into consideration the effects of legally enforceable master netting agreements, including any cash collateral received or paid, and are recognized in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Consolidated Balance Sheets.

 
September 30, 2019
 
December 31, 2018
 
 
 
Fair Value
 
 
 
Fair Value
(Dollars in millions)
Notional
Amounts
 
Asset Derivatives
 
Liability Derivatives
 
Notional
Amounts
 
Asset Derivatives
 
Liability Derivatives
Derivative instruments designated in hedging relationships
 
 
 
 
 
 
 
 
 
 
Cash flow hedges: 1
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI

$15,225

 

$—

 

$1

 

$10,500

 

$1

 

$2

Subtotal
15,225

 
—

 
1

 
10,500

 
1

 
2

Fair value hedges: 2
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts hedging fixed rate debt
12,155

 
—

 
—

 
9,550

 
1

 
1

Interest rate contracts hedging brokered time deposits
—

 
—

 
—

 
59

 
—

 
—

Subtotal
12,155

 
—

 
—

 
9,609

 
1

 
1

 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments 3
 
 
 
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
 
 
 
 
Residential MSRs 4
19,300

 
43

 
24

 
28,011

 
54

 
10

LHFS, IRLCs 5
6,688

 
10

 
12

 
4,891

 
18

 
38

LHFI
102

 
—

 
—

 
159

 
—

 
—

Trading activity 6
147,485

 
1,706

 
709

 
127,286

 
771

 
687

Foreign exchange rate contracts hedging loans and trading activity
11,954

 
185

 
182

 
9,824

 
129

 
119

Credit contracts hedging:
 
 
 
 
 
 
 
 
 
 
 
LHFI
918

 
—

 
28

 
830

 
—

 
14

Trading activity 7
5,136

 
38

 
34

 
4,058

 
97

 
95

Equity contracts hedging trading activity 6
36,181

 
1,774

 
1,939

 
34,471

 
1,447

 
1,644

Other contracts:
 
 
 
 
 
 
 
 
 
 
 
IRLCs and other 8
3,763

 
28

 
11

 
1,393

 
20

 
15

Commodity derivatives
2,491

 
94

 
91

 
2,020

 
93

 
91

Subtotal
234,018

 
3,878

 
3,030

 
212,943

 
2,629

 
2,713

 
 
 
 
 
 
 
 
 
 
 
 
Total derivative instruments

$261,398

 

$3,878

 

$3,031

 

$233,052

 

$2,631

 

$2,716

 
 
 
 
 
 
 
 
 
 
 
 
Total gross derivative instruments (before netting)
 
 

$3,878

 

$3,031

 
 
 

$2,631

 

$2,716

Less: Legally enforceable master netting agreements
 
 
(1,750
)
 
(1,750
)
 
 
 
(1,654
)
 
(1,654
)
Less: Cash collateral received/paid
 
 
(358
)
 
(1,007
)
 
 
 
(338
)
 
(652
)
Total derivative instruments (after netting)
 
 

$1,770

 

$274

 
 
 

$639

 

$410


1 
See “Cash Flow Hedging” in this Note for further discussion.
2 
See “Fair Value Hedging” in this Note for further discussion.
3 
See “Economic Hedging Instruments and Trading Activities” in this Note for further discussion.
4 
Notional amounts include $753 million and $921 million related to interest rate futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.
5 
Notional amounts include $53 million and $116 million related to interest rate futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.
6 
Notional amounts include $2.7 billion and $1.2 billion related to interest rate futures at September 30, 2019 and December 31, 2018, and $210 million and $136 million related to equity futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Notional amounts also include amounts related to interest rate swaps hedging fixed rate debt.
7 
Notional amounts include $9 million and $6 million from purchased credit risk participation agreements at September 30, 2019 and December 31, 2018, and $41 million and $33 million from written credit risk participation agreements at September 30, 2019 and December 31, 2018, respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
8 
Notional amounts include $41 million related to the Visa derivative liability at both September 30, 2019 and December 31, 2018. See Note 15, "Guarantees" for additional information.


Netting of Derivative Instruments
The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company's securities borrowed or purchased under agreements to resell, and securities sold under agreements to repurchase, that are subject to enforceable master netting agreements or similar agreements, are discussed in Note 3, “Federal Funds Sold and Securities Financing Activities.” The Company enters into ISDA or other legally enforceable industry standard master netting agreements with derivative counterparties. Under the terms of the master netting agreements, all transactions between the Company and the counterparty constitute a single business relationship such that in the event of default, the nondefaulting party is entitled to set off claims and apply property held by that party in respect of any transaction against obligations owed.
The following tables present total gross derivative instrument assets and liabilities at September 30, 2019 and December 31, 2018, which are adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid when calculating the net amount reported in the Consolidated Balance Sheets. Also included in the tables are financial instrument collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and customer cash collateral held at third party custodians. These amounts are not offset on the Consolidated Balance Sheets but are shown as a reduction to total derivative instrument assets and liabilities to derive net derivative assets and liabilities. These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged.
(Dollars in millions)
Gross
Amount
 
Amount
Offset
 
Net Amount
Presented in
Consolidated
Balance Sheets
 
Held/Pledged
Financial
Instruments
 
Net
Amount
September 30, 2019
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$3,269

 

$1,973

 

$1,296

 

$15

 

$1,281

Derivatives not subject to master netting arrangement or similar arrangement
143

 
—

 
143

 
1

 
142

Exchange traded derivatives
466

 
135

 
331

 
—

 
331

Total derivative instrument assets

$3,878

 

$2,108

 

$1,770

1 

$16

 

$1,754

 
 
 
 
 
 
 
 
 
 
Derivative instrument liabilities:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,787

 

$2,622

 

$165

 

$18

 

$147

Derivatives not subject to master netting arrangement or similar arrangement
109

 
—

 
109

 
13

 
96

Exchange traded derivatives
135

 
135

 
—

 
—

 
—

Total derivative instrument liabilities

$3,031

 

$2,757

 

$274

2 

$31

 

$243

 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,425

 

$1,873

 

$552

 

$12

 

$540

Derivatives not subject to master netting arrangement or similar arrangement
20

 
—

 
20

 
—

 
20

Exchange traded derivatives
186

 
119

 
67

 
—

 
67

Total derivative instrument assets

$2,631

 

$1,992

 

$639

1 

$12

 

$627

 
 
 
 
 
 
 
 
 
 
Derivative instrument liabilities:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,521

 

$2,187

 

$334

 

$14

 

$320

Derivatives not subject to master netting arrangement or similar arrangement
76

 
—

 
76

 
—

 
76

Exchange traded derivatives
119

 
119

 
—

 
—

 
—

Total derivative instrument liabilities

$2,716

 

$2,306

 

$410

2 

$14

 

$396

1 At September 30, 2019, $1.8 billion, net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $639 million, net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
2 At September 30, 2019, $274 million, net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $410 million, net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
Fair Value and Cash Flow Hedging Instruments
Fair Value Hedging
The Company enters into interest rate swap agreements as part of its risk management objectives for hedging exposure to changes in fair value due to changes in interest rates. These hedging arrangements convert certain fixed rate long-term debt and CDs to floating rates. For all designated fair value hedge relationships, changes in the fair value of the hedging instrument attributable to the hedged risk are recognized in the same income statement line as the earnings impact from the hedged item. There were no components of derivative gains or losses excluded in the Company’s assessment of hedge effectiveness related to the fair value hedges.
    
Cash Flow Hedging
The Company utilizes a comprehensive risk management strategy to monitor sensitivity of earnings to movements in interest rates. Specific types of funding and principal amounts hedged are determined based on prevailing market conditions and the shape of the yield curve. In conjunction with this strategy, the Company may employ various interest rate derivatives as risk management tools to hedge interest rate risk from recognized assets and liabilities or from forecasted transactions. The terms and notional amounts of derivatives are determined based on management’s assessment of future interest rates, as well as other factors.
The Company enters into interest rate swaps designated as cash flow hedging instruments to hedge its exposure to contractually specified interest rate risk associated with floating rate loans. For the three and nine months ended September 30, 2019, the amount of pre-tax gain recognized in OCI on derivative instruments was $61 million and $266 million, respectively. For the three and nine months ended September 30, 2018, the amount of pre-tax loss recognized in OCI on derivative instruments was $48 million and $274 million, respectively. At September 30, 2019, the maturities for hedges of floating rate loans ranged from less than one year to seven years, with the weighted average being 3.3 years. At December 31, 2018, the maturities for hedges of floating rate loans ranged from less than one year to five years, with the weighted average being 2.5 years. These hedges have been highly effective in offsetting the designated risks. At September 30, 2019, $158 million of deferred net pre-tax losses on derivative instruments designated as cash flow hedges on floating rate loans recognized in AOCI are expected to be reclassified into net interest income during the next twelve months. The amount to be reclassified into income incorporates the impact from both active and terminated cash flow hedges, including the net interest income earned on the active hedges, assuming no changes in LIBOR. The Company may choose to terminate or de-designate a hedging relationship due to a change in the risk management objective for that specific hedge item, which may arise in conjunction with an overall balance sheet management strategy.
 
The following table presents gains and losses on derivatives in fair value and cash flow hedging relationships by contract type and by income statement line item. The table does not disclose the financial impact of the activities that these derivative instruments are intended to hedge.
 
Net Interest Income
 
 
(Dollars in millions)
Interest and fees on LHFI
 
Interest on Long-term Debt
 
Total
Three Months Ended September 30, 2019
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$1,708

 

($150
)
 

$1,558

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($1
)
 

($1
)
Recognized on derivatives
—

 
43

 
43

Recognized on hedged items
—

 
(47
)
1 
(47
)
Net expense recognized on fair value hedges

$—

 

($5
)
 

($5
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($46
)
2 

$—

 

($46
)
Net expense recognized on cash flow hedges

($46
)
 

$—

 

($46
)
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$5,125

 

($425
)
 

$4,700

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($10
)
 

($10
)
Recognized on derivatives
—

 
267

 
267

Recognized on hedged items
—

 
(282
)
1 
(282
)
Net expense recognized on fair value hedges

$—

 

($25
)
 

($25
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($129
)
2 

$—

 

($129
)
Net expense recognized on cash flow hedges

($129
)
 

$—

 

($129
)
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$1,549

 

($95
)
 

$1,454

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($2
)
 

($2
)
Recognized on derivatives
—

 
(33
)
 
(33
)
Recognized on hedged items
—

 
31

1 
31

Net expense recognized on fair value hedges

$—

 

($4
)
 

($4
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($22
)
2 

$—

 

($22
)
Net expense recognized on cash flow hedges

($22
)
 

$—

 

($22
)
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$4,424

 

($252
)
 

$4,172

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($1
)
 

($1
)
Recognized on derivatives
—

 
(130
)
 
(130
)
Recognized on hedged items
—

 
124

1 
124

Net expense recognized on fair value hedges

$—

 

($7
)
 

($7
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($39
)
2 

$—

 

($39
)
Net expense recognized on cash flow hedges

($39
)
 

$—

 

($39
)
1 Includes amortization from de-designated fair value hedging relationships.
2 These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.
The following table presents the carrying amount of hedged liabilities on the Consolidated Balance Sheets in fair value hedging relationships and the associated cumulative basis adjustment related to the application of hedge accounting:
 
 
 
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Liabilities
(Dollars in millions)
Carrying Amount of Hedged Liabilities
 
Hedged Items Currently Designated
 
Hedged Items No Longer Designated
September 30, 2019
 
 
 
 
 
Long-term debt

$11,295

 

$180

 

($28
)
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
Long-term debt

$8,411

 

($10
)
 

($120
)
Brokered time deposits
29

 
—

 
—



Economic Hedging Instruments and Trading Activities
In addition to designated hedge accounting relationships, the Company also enters into derivatives as an end user to economically hedge risks associated with certain non-derivative and derivative instruments, along with entering into derivatives in a trading capacity with its clients.
The primary risks that the Company economically hedges are interest rate risk, foreign exchange risk, and credit risk. The Company mitigates these risks by entering into offsetting derivatives either on an individual basis or collectively on a macro basis.
The Company utilizes interest rate derivatives as economic hedges related to:
•
Residential MSRs. The Company hedges these instruments with a combination of interest rate derivatives, including forward and option contracts, futures, and forward rate agreements.
•
Residential mortgage IRLCs and LHFS. The Company hedges these instruments using forward and option contracts, futures, and forward rate agreements.
The Company is exposed to volatility and changes in foreign exchange rates associated with certain commercial loans. To hedge against this foreign exchange rate risk, the Company enters into foreign exchange rate contracts that provide for the future receipt and delivery of foreign currency at previously agreed-upon terms.
The Company enters into CDS to hedge credit risk associated with certain loans held within its Wholesale segment. The Company accounts for these contracts as derivatives, and accordingly, recognizes these contracts at fair value, with changes in fair value recognized in Other noninterest income in the Consolidated Statements of Income.
Trading activity primarily includes interest rate swaps, equity derivatives, CDS, futures, options, foreign exchange rate contracts, and commodity derivatives. These derivatives are entered into in a dealer capacity to facilitate client transactions, or are utilized as a risk management tool by the Company as an end user (predominantly in certain macro-hedging strategies).

The impacts of derivative instruments used for economic hedging or trading purposes on the Consolidated Statements of Income are presented in the following table:
 
Classification of Gain/(Loss) Recognized in Income on Derivatives
 
Amount of Gain/(Loss) Recognized in Income on Derivatives During the Three Months Ended September 30
 
Amount of Gain/(Loss) Recognized in Income on Derivatives During the Nine Months Ended September 30
(Dollars in millions)
 
2019
 
2018
 
2019
 
2018
Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
 
 
Residential MSRs
Mortgage-related income
 

$166

 

($54
)
 

$436

 

($210
)
LHFS, IRLCs
Mortgage-related income
 
(31
)
 
10

 
(76
)
 
57

LHFI
Other noninterest income
 
(1
)
 
1

 
(4
)
 
3

Trading activity
Trading income
 
1

 
18

 
22

 
48

Foreign exchange rate contracts hedging loans and trading activity
Trading income
 
39

 
9

 
46

 
49

Credit contracts hedging:
 
 
 
 
 
 
 
 
 
LHFI
Other noninterest income
 
(1
)
 
(5
)
 
(16
)
 
(5
)
Trading activity
Trading income
 
7

 
5

 
20

 
16

Equity contracts hedging trading activity
Trading income
 
6

 
6

 
34

 
8

Other contracts:
 
 
 
 
 
 
 
 
 
IRLCs and other
Mortgage-related income;
Commercial real estate-related income
 
58

 
19

 
144

 
39

Commodity derivatives
Trading income
 
1

 
—

 
2

 
—

Total
 
 

$245

 

$9

 

$608

 

$5


Credit Derivative Instruments
As part of the Company's trading businesses, the Company enters into contracts that are, in form or substance, written guarantees; specifically, CDS, risk participations, and TRS. The Company accounts for these contracts as derivatives, and accordingly, records these contracts at fair value, with changes in fair value recognized in Trading income in the Consolidated Statements of Income.
The Company has also entered into TRS contracts on loans. The Company’s TRS business consists of matched trades, such that when the Company pays depreciation on one TRS, it receives the same amount on the matched TRS. To mitigate its credit risk, the Company typically receives initial cash collateral from the counterparty upon entering into the TRS and is entitled to additional collateral if the fair value of the underlying reference assets deteriorates. The following table presents information related to the Company's outstanding TRS contracts.
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Outstanding TRS notional balances

$2,543

 

$2,009

TRS assets at fair value
38

 
97

TRS liabilities at fair value
34

 
94

Cash collateral held for TRS contracts
635

 
601



For additional information on the Company’s TRS contracts, see Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” in this Form 10-Q as well as Note 20, “Fair Value Election and Measurement,” to the Company’s 2018 Annual Report on Form 10-K.
The Company writes risk participations, which are credit derivatives, whereby the Company has guaranteed payment to a dealer counterparty in the event the counterparty experiences a loss on a derivative, such as an interest rate swap, due to a failure to pay by the counterparty’s customer (the “obligor”) on that derivative. The Company manages its payment risk on its risk participations by monitoring the creditworthiness of the obligors, which are all corporations or partnerships, through the normal credit review process that the Company would have performed had it entered into a derivative directly with the obligors. To date, no material losses have been incurred related to the Company’s written risk participations. At September 30, 2019, the remaining terms on these risk participations generally ranged from less than one year to 11 years, with a weighted average term on the maximum estimated exposure of 6.0 years. At December 31, 2018, the remaining terms on these risk participations generally ranged from less than one year to 10 years, with a weighted average term on the maximum estimated exposure of 5.9 years. The Company’s maximum estimated exposure to written risk participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on interest rate curve simulations and assuming 100% default by all obligors on the maximum values, was approximately $281 million and $217 million at September 30, 2019 and December 31, 2018, respectively. The fair values of the written risk participations were immaterial at both September 30, 2019 and December 31, 2018.
v3.19.3
Fair Value Election and Measurement
 9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Fair Value Election and Measurement
NOTE 17 - FAIR VALUE ELECTION AND MEASUREMENT
The Company measures certain assets and liabilities at fair value, which are classified as level 1, 2, or 3 within the fair value hierarchy, as shown below, on the basis of whether the measurement employs observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s own assumptions, taking into account information about market participant assumptions that is readily available.
•
Level 1: Quoted prices for identical instruments in active markets
•
Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets
•
Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable
Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The Company’s recurring fair value measurements are based on either a requirement to measure such assets and liabilities at fair value or on the Company’s election to measure certain financial assets and liabilities at fair value. Assets and liabilities that are required to be measured at fair value on a recurring basis include trading securities, derivative instruments, securities AFS, and certain other equity securities. Assets and liabilities that the Company has elected to measure at fair value on a recurring basis include trading loans, certain LHFS and LHFI, residential MSRs, brokered time deposits, and certain structured notes and fixed rate issuances included in long-term debt.
The Company elects to measure certain assets and liabilities at fair value to better align its financial performance with the economic value of actively traded or hedged assets or liabilities. The use of fair value also enables the Company to mitigate non-economic earnings volatility caused from financial assets and liabilities being measured using different bases of accounting, as well as to more accurately portray the active and dynamic management of the Company’s balance sheet.
The Company uses various valuation techniques and assumptions in estimating fair value. The assumptions used to
estimate the value of an instrument have varying degrees of impact to the overall fair value of an asset or liability. This process involves gathering multiple sources of information, including broker quotes, values provided by pricing services, trading activity in other identical or similar securities, market indices, and pricing matrices. When observable market prices for an asset or liability are not available, the Company employs various modeling techniques, such as discounted cash flow analyses, to estimate fair value. Models used to produce material financial reporting information are validated prior to use and following any material change in methodology. Their performance is monitored at least quarterly, and any material deterioration in model performance is escalated.
The Company has formal processes and controls in place to support the appropriateness of its fair value estimates. For fair values obtained from a third party, or those that include certain trader estimates of fair value, there is an independent price validation function that provides oversight for these estimates. For level 2 instruments and certain level 3 instruments, the validation generally involves evaluating pricing received from two or more third party pricing sources that are widely used by market participants. The Company evaluates this pricing information from both a qualitative and quantitative perspective and determines whether any pricing differences exceed acceptable thresholds. If thresholds are exceeded, the Company assesses differences in valuation approaches used, which may include contacting a pricing service to gain further insight into the valuation of a particular security or class of securities to resolve the pricing variance, which could include an adjustment to the price used for financial reporting purposes.
The Company classifies instruments within level 2 in the fair value hierarchy when it determines that external pricing sources estimated fair value using prices for similar instruments trading in active markets. A wide range of quoted values from pricing sources may imply a reduced level of market activity and indicate that significant adjustments to price indications have been made. In such cases, the Company evaluates whether the asset or liability should be classified as level 3.
Determining whether to classify an instrument as level 3 involves judgment and is based on a variety of subjective factors, including whether a market is inactive. A market is considered inactive if significant decreases in the volume and level of activity for the asset or liability have been observed.

Recurring Fair Value Measurements
The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected. There have been no significant changes in the Company’s valuation techniques or inputs used
in estimating fair value for assets and liabilities measured on a recurring basis from those disclosed in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K.
 
September 30, 2019
 
Fair Value Measurements
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
 
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$212

 

$—

 

$—

 

$—

 

$212

Federal agency securities
—

 
319

 
—

 
—

 
319

U.S. states and political subdivisions
—

 
43

 
—

 
—

 
43

MBS - agency residential
—

 
1,004

 
—

 
—

 
1,004

MBS - agency commercial
—

 
51

 
—

 
—

 
51

ABS
—

 
7

 
—

 
—

 
7

Corporate and other debt securities
—

 
628

 
—

 
—

 
628

CP
—

 
122

 
—

 
—

 
122

Equity securities
86

 
—

 
—

 
—

 
86

Derivative instruments
466

 
3,385

 
27

 
(2,108
)
 
1,770

Trading loans 2
—

 
2,862

 
—

 
—

 
2,862

Total trading assets and derivative instruments
764

 
8,421

 
27

 
(2,108
)
 
7,104

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,018

 
—

 
—

 
—

 
4,018

Federal agency securities
—

 
124

 
—

 
—

 
124

U.S. states and political subdivisions
—

 
572

 
—

 
—

 
572

MBS - agency residential
—

 
22,585

 
—

 
—

 
22,585

MBS - agency commercial
—

 
2,983

 
—

 
—

 
2,983

MBS - non-agency commercial
—

 
1,064

 
—

 
—

 
1,064

Corporate and other debt securities
—

 
12

 
—

 
—

 
12

Total securities AFS
4,018

 
27,340

 
—

 
—

 
31,358


 
 
 
 
 
 
 
 
 
LHFS
—

 
1,488

 
—

 
—

 
1,488

LHFI
—

 
—

 
124

 
—

 
124

Residential MSRs
—

 
—

 
1,564

 
—

 
1,564

Other assets
76

 
—

 
—

 
—

 
76

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
538

 
—

 
—

 
—

 
538

Corporate and other debt securities
—

 
539

 
—

 
—

 
539

Equity securities
20

 
—

 
—

 
—

 
20

Derivative instruments
135

 
2,886

 
10

 
(2,757
)
 
274

Trading loans
—

 
9

 
—

 
—

 
9

Total trading liabilities and derivative instruments
693

 
3,434

 
10

 
(2,757
)
 
1,380

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
552

 
—

 
—

 
552

Long-term debt
—

 
302

 
—

 
—

 
302


1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16, “Derivative Financial Instruments,” for additional information.
2 At September 30, 2019, includes $2.5 billion of loans related to the Company’s TRS business, $70 million of loans related to the Company’s loan sales and trading business held in inventory, and $227 million of loans backed by the SBA held in inventory.


 
December 31, 2018
 
Fair Value Measurements
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
 
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$262

 

$—

 

$—

 

$—

 

$262

Federal agency securities
—

 
188

 
—

 
—

 
188

U.S. states and political subdivisions
—

 
54

 
—

 
—

 
54

MBS - agency residential
—

 
860

 
—

 
—

 
860

Corporate and other debt securities
—

 
700

 
—

 
—

 
700

CP
—

 
190

 
—

 
—

 
190

Equity securities
73

 
—

 
—

 
—

 
73

Derivative instruments
186

 
2,425

 
20

 
(1,992
)
 
639

Trading loans 2
—

 
2,540

 
—

 
—

 
2,540

Total trading assets and derivative instruments
521

 
6,957

 
20

 
(1,992
)
 
5,506

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,211

 
—

 
—

 
—

 
4,211

Federal agency securities
—

 
221

 
—

 
—

 
221

U.S. states and political subdivisions
—

 
589

 
—

 
—

 
589

MBS - agency residential
—

 
22,864

 
—

 
—

 
22,864

MBS - agency commercial
—

 
2,627

 
—

 
—

 
2,627

MBS - non-agency commercial
—

 
916

 
—

 
—

 
916

Corporate and other debt securities
—

 
14

 
—

 
—

 
14

Total securities AFS
4,211

 
27,231

 
—

 
—

 
31,442

 
 
 
 
 
 
 
 
 
 
LHFS
—

 
1,178

 
—

 
—

 
1,178

LHFI
—

 
—

 
163

 
—

 
163

Residential MSRs
—

 
—

 
1,983

 
—

 
1,983

Other assets
95

 
—

 
—

 
—

 
95

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
801

 
—

 
—

 
—

 
801

MBS - agency
—

 
3

 
—

 
—

 
3

Corporate and other debt securities
—

 
385

 
—

 
—

 
385

Equity securities
5

 
—

 
—

 
—

 
5

Derivative instruments
119

 
2,590

 
7

 
(2,306
)
 
410

Total trading liabilities and derivative instruments
925

 
2,978

 
7

 
(2,306
)
 
1,604

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
403

 
—

 
—

 
403

Long-term debt
—

 
289

 
—

 
—

 
289


1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16, “Derivative Financial Instruments,” for additional information.
2 At December 31, 2018, includes $2.0 billion of loans related to the Company’s TRS business, $137 million of loans related to the Company’s loan sales and trading business held in inventory, and $366 million of loans backed by the SBA loans held in inventory, measured at fair value.


The following tables present the difference between fair value and the aggregate UPB for which the FVO has been elected for certain trading loans, LHFS, LHFI, brokered time deposits, and long-term debt instruments.
(Dollars in millions)
Fair Value at
September 30, 2019
 
Aggregate UPB at
September 30, 2019
 
Fair Value
Over/(Under)
Unpaid Principal
Assets:
 
 
 
 
 
Trading loans

$2,862

 

$2,779

 

$83

LHFS:
 
 
 
 
 
Accruing
1,488

 
1,446

 
42

LHFI:
 
 
 
 
 
Accruing
121

 
119

 
2

Nonaccrual
3

 
4

 
(1
)

Liabilities:
 
 
 
 
 
Trading loans
9

 
9

 
—

Brokered time deposits
552

 
539

 
13

Long-term debt
302

 
290

 
12

 
 
 
 
 
 
(Dollars in millions)
Fair Value at
December 31, 2018
 
Aggregate UPB at
December 31, 2018
 

Fair Value
Over/(Under)
Unpaid Principal
Assets:
 
 
 
 
 
Trading loans

$2,540

 

$2,526

 

$14

LHFS:
 
 
 
 
 
Accruing
1,178

 
1,128

 
50

LHFI:
 
 
 
 
 
Accruing
158

 
163

 
(5
)
Nonaccrual
5

 
6

 
(1
)

Liabilities:
 
 
 
 
 
Brokered time deposits
403

 
403

 
—

Long-term debt
289

 
286

 
3


 

The following tables present the changes in fair value of financial instruments for which the FVO has been elected. The tables do not reflect the change in fair value attributable to related economic hedges that the Company uses to mitigate market-related risks associated with the financial instruments. Generally, changes in the fair value of economic hedges are recognized in
Trading income, Mortgage-related income, Commercial real estate-related income, or Other noninterest income as appropriate, and are designed to partially offset the change in fair value of the financial instruments referenced in the tables below. The Company’s economic hedging activities are deployed at both the instrument and portfolio level.

 
Fair Value (Loss)/Gain for the Three Months Ended
September 30, 2019 for Items Measured at Fair Value
Pursuant to Election of the FVO
 
Fair Value Gain/(Loss) for the Nine Months Ended
September 30, 2019 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading Income
 
  Mortgage 1
Related
Income
 
Other Noninterest Income
 
  Total 2
Changes in Fair Values Included in Earnings
 
Trading
Income
 
  Mortgage 1
Related
Income
 
Other
Noninterest
Income
 
  Total 2
Changes in Fair Values Included in Earnings
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading loans 3

($1
)
 

$—

 

$—

 

($1
)
 

$18

 

$—

 

$—

 

$18

LHFS 4
—

 
40

 
—

 
40

 
—

 
80

 
—

 
80

LHFI
—

 
—

 
2

 
2

 
—

 
—

 
5

 
5

Residential MSRs
—

 
(250
)
 
—

 
(250
)
 
—

 
(650
)
 
—

 
(650
)
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brokered time deposits
(3
)
 
—

 
—

 
(3
)
 
(24
)
 
—

 
—

 
(24
)
Long-term debt
(2
)
 
—

 
—

 
(2
)
 
(15
)
 
—

 
—

 
(15
)
1 Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2019, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
2 Changes in fair value for the three and nine months ended September 30, 2019 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.
3 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2019.
4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2019.

 
Fair Value Gain/(Loss) for the Three Months Ended
September 30, 2018 for Items Measured at Fair Value
Pursuant to Election of the FVO
 
Fair Value Gain/(Loss) for the Nine Months Ended
September 30, 2018 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading Income
 
  Mortgage 1
Related
Income
 
Other Noninterest Income
 
  Total 2
Changes in Fair Values Included in Earnings
 
Trading
Income
 
  Mortgage 1
Related
Income
 
Other
Noninterest
Income
 
  Total 2
Changes in Fair Values Included in Earnings
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading loans 3

$3

 

$—

 

$—

 

$3

 

$10

 

$—

 

$—

 

$10

LHFS 4
—

 
5

 
—

 
5

 
—

 
(3
)
 
—

 
(3
)
LHFI
—

 
—

 
(1
)
 
(1
)
 
—

 
—

 
(4
)
 
(4
)
Residential MSRs
—

 
(8
)
 
—

 
(8
)
 
—

 
22

 
—

 
22

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brokered time deposits
(4
)
 
—

 
—

 
(4
)
 
6

 
—

 
—

 
6

Long-term debt
1

 
—

 
—

 
1

 
6

 
—

 
—

 
6

1 Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2018, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
2 Changes in fair value for the three and nine months ended September 30, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.
3 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2018.
4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2018.



The valuation technique and range, including weighted average, of the unobservable inputs associated with the Company’s level 3 assets and liabilities are as follows:
 
 Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)
Fair value
September 30, 2019
 
Valuation Technique
 
Unobservable Input
 
Range
 (Weighted Average) 1
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 2

$17

 
Internal model
 
Pull through rate
 
2-100% (83%)
 
MSR value
 
21-155 bps (102 bps)
LHFI
121

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
62-250 bps (172 bps)
Conditional prepayment rate
7-31 CPR (16 CPR)
Conditional default rate
0-2 CDR (0.5 CDR)
3

Collateral based pricing
Appraised value
NM 3
Residential MSRs
1,564

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-31 CPR (15 CPR)
 
Option adjusted spread
 
1-29% (3%)

1 Unobservable inputs were weighted by the relative fair value of the financial instruments.
2 Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K, for a discussion of valuation assumptions related to the Visa derivative liability.
3 Not meaningful.

 
 Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)
Fair value
December 31, 2018
 
Valuation Technique
 
Unobservable Input
 
Range
(Weighted Average) 1
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 2

$13

 
Internal model
 
Pull through rate
 
41-100% (81%)
 
MSR value
 
11-165 bps (108 bps)
LHFI
158

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
0-250 bps (164 bps)
 
Conditional prepayment rate
 
7-22 CPR (12 CPR)
 
Conditional default rate
 
0-1 CDR (0.6 CDR)
5

 
Collateral based pricing
 
Appraised value
 
NM 3
Residential MSRs
1,983

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-30 CPR (13 CPR)
 
Option adjusted spread
 
0-116% (2%)

1 Unobservable inputs were weighted by the relative fair value of the financial instruments.
2 Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K, for a discussion of valuation assumptions related to the Visa derivative liability.
3 Not meaningful.

The following tables present a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (other than residential MSRs which are disclosed in Note 8, “Goodwill and Other Intangible Assets”). Transfers into and out
of the fair value hierarchy levels are assumed to occur at the end of the period in which the transfer occurred. None of the transfers into or out of level 3 have been the result of using alternative valuation approaches to estimate fair values.
 
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
Balance
July 1,
2019
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2019
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$24

 

$60

1 

$—

 

$—

 

$—

 

($3
)
 

($64
)
2 

$—

 

$—

 

$17

LHFI
127

 
2

3 
—

 
—

 
—

 
(6
)
 
—

 
1

 
—

 
124

(Dollars in millions)
Beginning
Balance
January 1,
2019
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2019
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$13

 

$147

1 

$—

 

$—

 

$—

 

($5
)
 

($138
)
2 

$—

 

$—

 

$17

LHFI
163

 
5

3 
—

 
—

 
—

 
(21
)
 
—

 
2

 
(25
)
 
124


1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage-related income, amount related to commercial IRLCs is recognized in Commercial real estate-related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $23 million in earnings during both the three and nine months ended September 30, 2019, related to changes in unrealized gains on net derivative instruments still held at September 30, 2019.
2 During the three and nine months ended September 30, 2019, the Company transferred $64 million and $138 million, respectively, of net IRLC assets out of level 3 as the associated loans were closed.
3 Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $3 million and $5 million in earnings during the three and nine months ended September 30, 2019, respectively, related to changes in unrealized gains on LHFI still held at September 30, 2019.

 
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
Balance
July 1,
2018
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2018
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$3

 

$18

1 

$—

 

$—

 

$—

 

$8

 

($26
)
2 

$—

 

$—

 

$3

LHFI
177

 
—

3 
—

 
—

 
—

 
(9
)
 
—

 
—

 
—

 
168

(Dollars in millions)
Beginning
Balance
January 1,
2018
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2018
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$—

 

$36

1 

$—

 

$—

 

$—

 

$10

 

($43
)
2 

$—

 

$—

 

$3

Securities AFS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MBS - non-agency residential
59

 
—

 
—

 
—

 
—

 
(2
)
 
—

 
—

 
(57
)
 
—

ABS
8

 
—

 
—

 
—

 
—

 
(1
)
 
—

 
—

 
(7
)
 
—

Corporate and other debt securities
5

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(5
)
 
—

Total securities AFS
72

 
—


—

 
—

 
—

 
(3
)
 
—

 
—

 
(69
)
 
—

LHFI
196

 
(3
)
3 
—

 
—

 
—

 
(26
)
 
—

 
1

 
—

 
168


1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage-related income, amount related to commercial IRLCs is recognized in Commercial real estate-related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $10 million and $7 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2018.
2 During the three and nine months ended September 30, 2018, the Company transferred $26 million and $43 million, respectively, of net IRLC assets out of level 3 as the associated loans were closed.  
3 Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $4 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized losses on LHFI still held at September 30, 2018.
Non-recurring Fair Value Measurements
The following tables present gains and losses recognized on assets still held at period end, and measured at fair value on a non-recurring basis, for the three and nine months ended September 30, 2019 and the year ended December 31, 2018. Adjustments to fair value generally result from the application
of LOCOM, or the measurement alternative, or through write-downs of individual assets. The tables do not reflect changes in fair value attributable to economic hedges the Company may have used to mitigate interest rate risk associated with LHFS.
 
 
 
Fair Value Measurements
 
(Losses)/Gains for the
Three Months Ended September 30, 2019
 
(Losses)/Gains for the
Nine Months Ended
September 30, 2019
(Dollars in millions)
September 30, 2019
 
Level 1
 
Level 2
 
Level 3
 
 
LHFS

$311

 

$—

 

$311

 

$—

 

($14
)
 

($14
)
LHFI
128

 
—

 
—

 
128

 
—

 
—

OREO
22

 
—

 
—

 
22

 
(1
)
 
(3
)
Other assets
74

 
—

 
61

 
13

 
16

 
14

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements
 
(Losses)/Gains for the
Year Ended
December 31, 2018
 
 
(Dollars in millions)
December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
 

LHFS

$47

 

$—

 

$47

 

$—

 

($1
)
 
 
LHFI
63

 
—

 
—

 
63

 
—

 
 
OREO
19

 
—

 
—

 
19

 
(4
)
 
 
Other assets
67

 
—

 
47

 
20

 
24

 
 


Discussed below are the valuation techniques and inputs used in estimating fair values for assets measured at fair value on a non-recurring basis and classified as level 2 and/or 3.
Loans Held for Sale
At September 30, 2019 and December 31, 2018, LHFS classified as level 2 consisted of commercial loans that were valued using market prices and measured at LOCOM. During both the three and nine months ended September 30, 2019, the Company recognized impairment charges of $14 million attributable to changes in the fair value of LHFS. During the year ended December 31, 2018, the Company recognized an immaterial amount of impairment charges attributable to changes in the fair value of LHFS.

Loans Held for Investment
At September 30, 2019 and December 31, 2018, LHFI classified as level 3 consisted primarily of consumer loans discharged in Chapter 7 bankruptcy that had not been reaffirmed by the borrower. Cash proceeds from the sale of the underlying collateral is the expected source of repayment for a majority of these loans. Accordingly, the fair value of these loans is derived from the estimated fair value of the underlying collateral, incorporating market data if available. Due to the lack of market data for similar assets, all of these loans are classified as level 3. There were no gains/(losses) recognized during the three and nine months ended September 30, 2019 or during the year ended December 31, 2018, as the charge-offs related to these loans are a component of the ALLL.

OREO
OREO is measured at the lower of cost or fair value less costs to sell. Level 3 OREO consists primarily of residential homes, commercial properties, and vacant lots and land for which initial valuations are based on property-specific appraisals, broker pricing opinions, or other limited, highly subjective market information. Updated value estimates are received regularly for level 3 OREO.
Other Assets
Other assets consist of equity investments, other repossessed assets, assets under operating leases where the Company is the lessor, branch properties, and land held for sale.
The Company elected the measurement alternative for measuring certain equity securities without readily determinable fair values, which are adjusted based on any observable price changes in orderly transactions. These equity securities are classified as level 2 based on the valuation methodology and associated inputs. During both the three and nine months ended September 30, 2019, the Company recognized remeasurement gains of $16 million on these equity securities. During the year ended December 31, 2018, the Company recognized remeasurement gains of $30 million on these equity securities.
Other repossessed assets include repossessed personal property that is measured at fair value less cost to sell. These assets are classified as level 3 as their fair value is determined based on a variety of subjective, unobservable factors. There were no losses recognized in earnings by the Company on other repossessed assets during the three and nine months ended September 30, 2019 or during the year ended December 31, 2018, as the impairment charges on repossessed personal property were a component of the ALLL.
The Company monitors the fair value of assets under operating leases where the Company is the lessor and recognizes impairment on the leased asset to the extent the carrying value is not recoverable and is greater than its fair value. Fair value is determined using collateral specific pricing digests, external appraisals, broker opinions, recent sales data from industry equipment dealers, and the discounted cash flows derived from the underlying lease agreement. As market data for similar assets and lease arrangements is available and used in the valuation, these assets are considered level 2. During the three and nine months ended September 30, 2019 and the year ended December 31, 2018, the Company recognized an immaterial amount of impairment charges attributable to changes in the fair value of various personal property under operating leases.
Branch properties are classified as level 3, as their fair value is based on property-specific appraisals and broker opinions. No impairment charges were recognized on branch properties during the three months ended September 30, 2019 and an immaterial amount was recognized during the nine months ended September 30, 2019. During the year ended December 31, 2018, the Company recognized impairment charges of $5 million on branch properties.
Land held for sale is recorded at the lesser of carrying value or fair value less cost to sell, and is considered level 3 as its fair value is determined based on property-specific appraisals and broker opinions. No impairment charges were recognized on land held for sale during the three months ended September 30, 2019. During the nine months ended September 30, 2019 and the year ended December 31, 2018, the Company recognized an immaterial amount of impairment charges on land held for sale.

Fair Value of Financial Instruments
The carrying amounts and fair values of the Company’s financial instruments are as follows:
 
 
 
September 30, 2019
 
Fair Value Measurements
(Dollars in millions)
Measurement Category
 
Carrying Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
Amortized cost
 

$9,184

 

$9,184

 

$9,184

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
7,104

 
7,104

 
764

 
6,313

 
27

Securities AFS
Fair value
 
31,358

 
31,358

 
4,018

 
27,340

 
—

LHFS
Amortized cost
 
518

 
525

 
—

 
448

 
77

Fair value
 
1,488

 
1,488

 
—

 
1,488

 
—

LHFI, net
Amortized cost
 
156,632

 
156,222

 
—

 
—

 
156,222

Fair value
 
124

 
124

 
—

 
—

 
124

Other 1
Amortized cost
 
737

 
737

 
—

 
—

 
737

Fair value
 
76

 
76

 
76

 
—

 
—

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Consumer and other time deposits
Amortized cost
 
16,727

 
16,637

 
—

 
16,637

 
—

Brokered time deposits
Amortized cost
 
993

 
964

 
—

 
964

 
—

Fair value
 
552

 
552

 
—

 
552

 
—

Short-term borrowings
Amortized cost
 
7,144

 
7,144

 
—

 
7,144

 
—

Long-term debt
Amortized cost
 
20,067

 
20,257

 
—

 
18,490

 
1,767

Fair value
 
302

 
302

 
—

 
302

 
—

Trading liabilities and derivative instruments
Fair value
 
1,380

 
1,380

 
693

 
677

 
10



 
 
 
December 31, 2018
 
Fair Value Measurements
(Dollars in millions)
Measurement Category
 
Carrying Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
Amortized cost
 

$7,495

 

$7,495

 

$7,495

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
5,506

 
5,506

 
521

 
4,965

 
20

Securities AFS
Fair value
 
31,442

 
31,442

 
4,211

 
27,231

 
—

LHFS
Amortized cost
 
290

 
291

 
—

 
261

 
30

Fair value
 
1,178

 
1,178

 
—

 
1,178

 
—

LHFI, net
Amortized cost
 
150,061

 
148,167

 
—

 
—

 
148,167

Fair value
 
163

 
163

 
—

 
—

 
163

Other 1
Amortized cost
 
630

 
630

 
—

 
—

 
630

Fair value
 
95

 
95

 
95

 
—

 
—

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Consumer and other time deposits
Amortized cost
 
15,355

 
15,106

 
—

 
15,106

 
—

Brokered time deposits
Amortized cost
 
642

 
615

 
—

 
615

 
—

Fair value
 
403

 
403

 
—

 
403

 
—

Short-term borrowings
Amortized cost
 
8,772

 
8,772

 
—

 
8,772

 
—

Long-term debt
Amortized cost
 
14,783

 
14,729

 
—

 
13,024

 
1,705

Fair value
 
289

 
289

 
—

 
289

 
—

Trading liabilities and derivative instruments
Fair value
 
1,604

 
1,604

 
925

 
672

 
7

1 Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values.

At September 30, 2019 and December 31, 2018, the Company had $76.2 billion and $72.0 billion of unfunded commercial loan commitments and letters of credit, respectively, that are not included in the preceding tables. Since no active trading market exists for these instruments, a reasonable estimate of the instruments' fair value is the carrying value of deferred fees plus
the related unfunded commitments reserve, which totaled $76 million and $72 million at September 30, 2019 and December 31, 2018, respectively. The Company does not estimate the fair value of its unfunded consumer lending commitments, which can generally be canceled by providing notice to the borrower.
v3.19.3
Contingencies
 9 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Contingencies
NOTE 18 – CONTINGENCIES
Litigation and Regulatory Matters
In the ordinary course of business, the Company and its subsidiaries are parties to numerous civil claims and lawsuits and subject to regulatory examinations, investigations, and requests for information. Some of these matters involve claims for substantial amounts. The Company’s experience has shown that the damages alleged by plaintiffs or claimants are often overstated, based on unsubstantiated legal theories, unsupported by facts, and/or bear no relation to the ultimate award that a court might grant. Additionally, the outcome of litigation and regulatory matters and the timing of ultimate resolution are inherently difficult to predict. These factors make it difficult for the Company to provide a meaningful estimate of the range of reasonably possible outcomes of claims in the aggregate or by individual claim. However, on a case-by-case basis, reserves are established for those legal claims in which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. The Company's financial statements at September 30, 2019 reflect the Company's current best estimate of probable losses associated with these matters, including costs to comply with various settlement agreements, where applicable. The actual costs of resolving these claims may be substantially higher or lower than the amounts reserved.
For a limited number of legal matters in which the Company is involved, the Company is able to estimate a range of reasonably possible losses in excess of related reserves, if any. Management currently estimates these losses to range from $0 to approximately $160 million. This estimated range of reasonably possible losses represents the estimated possible losses over the life of such legal matters, which may span a currently indeterminable number of years, and is based on information available at September 30, 2019. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those matters for which an estimate is not possible are not included within this estimated range; therefore, this estimated range does not represent the Company’s maximum loss exposure. Based on current knowledge, it is the opinion of management that liabilities arising from legal claims in excess of the amounts currently reserved, if any, will not have a material impact on the Company’s financial condition, results of operations, or cash flows. However, in light of the significant uncertainties involved in these matters and the large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to the Company’s financial condition, results of operations, or cash flows for any given reporting period.
The following is a description of certain litigation and regulatory matters:
Card Association Antitrust Litigation
The Company is a defendant, along with Visa and Mastercard, as well as several other banks, in several antitrust lawsuits challenging their practices. For a discussion regarding the Company’s involvement in this litigation matter, see Note 15, “Guarantees.”

Bickerstaff v. SunTrust Bank
This case was filed in the Fulton County State Court on July 12, 2010, and an amended complaint was filed on August 9, 2010. Plaintiff asserts that all overdraft fees charged to his account which related to debit card and ATM transactions are actually interest charges and therefore subject to the usury laws of Georgia. Plaintiff has brought claims for violations of civil and criminal usury laws, conversion, and money had and received, and purports to bring the action on behalf of all Georgia citizens who incurred such overdraft fees within the four years before the complaint was filed where the overdraft fee resulted in an interest rate being charged in excess of the usury rate. On April 8, 2013, the plaintiff filed a motion for class certification and that motion was denied but the ruling was later reversed and remanded by the Georgia Supreme Court. On October 6, 2017, the trial court granted plaintiff's motion for class certification and the decision was affirmed by the Georgia Court of Appeals on March 6, 2019. The Bank filed a petition with the Georgia Supreme Court on April 15, 2019, asking the court to review the decision.
Mutual Funds ERISA Class Action
On March 11, 2011, the Company and certain officers, directors, and employees of the Company were named in a putative class action alleging that they breached their fiduciary duties under ERISA by offering certain STI Classic Mutual Funds as investment options in the Plan. The plaintiffs purported to represent all current and former Plan participants who held the STI Classic Mutual Funds in their Plan accounts from April 2002 through December 2010 and seek to recover alleged losses these Plan participants supposedly incurred as a result of their investment in the STI Classic Mutual Funds. This action is pending in the U.S. District Court for the Northern District of Georgia, Atlanta Division (the “District Court”). Subsequently, plaintiffs' counsel initiated a substantially similar lawsuit against the Company naming two new plaintiffs. On June 27, 2014, Brown, et al. v. SunTrust Banks, Inc., et al., another putative class action alleging breach of fiduciary duties associated with the inclusion of STI Classic Mutual Funds as investment options in the Plan, was filed in the U.S. District Court for the District of Columbia but then was transferred to the District Court.
After various appeals, the cases were remanded to the District Court. On March 25, 2016, a consolidated amended complaint was filed, consolidating all of these pending actions into one case. The Company filed an answer to the consolidated amended complaint on June 6, 2016. Subsequent to the closing of fact discovery, plaintiffs filed their second amended consolidated complaint on December 19, 2017 which among other things named five new defendants. On January 2, 2018, defendants filed their answer to the second amended consolidated complaint. Defendants' motion for partial summary judgment was filed on January 12, 2018, and on January 16, 2018 the plaintiffs filed for motion for class certification. Defendants' motion for partial summary judgment was granted by the District Court on May 2, 2018, which held that all claims prior to March 11, 2005 have been dismissed as well as dismissing three individual defendants from the action. On June 27, 2018, the District Court granted the plaintiffs' motion for class
certification. On March 29, 2019, the District Court dismissed RidgeWorth Capital Management, Inc. from the lawsuit and on July 16, 2019, the District Court dismissed plaintiffs' claim for successor liability. On October 3, 2019, the District Court granted in part and denied in part defendants' motion for summary judgment on plaintiffs' remaining claims. The surviving claims have been placed on a civil trial calendar for early 2020.
Millennium Lender Claim Trust v. STRH and SunTrust Bank, et al.
In August 2017, the Trustee of the Millennium Lender Claim Trust filed a suit in the New York State Court against STRH, the Bank, and other lenders of the $1.775 B Millennium Health LLC f/k/a Millennium Laboratories LLC (“Millennium”) syndicated loan. The Trustee alleges that the loan was actually a security and that defendants misrepresented or omitted to state material facts in the offering materials and communications provided concerning the legality of Millennium's sales, marketing, and billing practices and the known risks posed by a pending government investigation into the illegality of such practices. The Trustee brings claims for violation of the California Corporate Securities Law, the Massachusetts Uniform Securities Act, the Colorado Securities Act, and the Illinois Securities Law, as well as negligent misrepresentation and seeks rescission of sales of securities as well as unspecified rescissory damages, compensatory damages, punitive damages, interest, and attorneys' fees and costs. The defendants removed the case to the U.S. District Court for the Southern District of New York and Trustee's motion to remand the case back to state court was
denied. The defendants filed a motion to dismiss the claims on April 12, 2019.
SunTrust and BB&T Merger Litigation
Following the Merger announcement, six civil actions were filed challenging, among other things, the adequacy of the disclosures contained in the preliminary proxy statement/prospectus filed by BB&T with the SEC in connection with the proposed transaction. Five of these suits were filed by purported SunTrust stockholders against SunTrust and its Board and assert claims under Sections 14(a) and 20(a) of the Exchange Act challenging the adequacy of the public disclosures made concerning the proposed transaction. One of these five suits also asserts a claim against BB&T under Section 20(a). The sixth suit was filed by a purported BB&T stockholder against BB&T and its board of directors and asserts claims under state law challenging, among other things, the adequacy of the public disclosures made concerning the proposed transaction. Following discussions, SunTrust and BB&T reached agreement with plaintiffs to resolve these actions by making certain supplemental disclosures in the joint proxy statement/prospectus filed with the SEC in connection with the proposed transaction, which became definitive on June 19, 2019. To date, one of the suits filed by purported SunTrust stockholders has been dismissed with prejudice, and the suit filed by a purported BB&T stockholder has been discontinued with prejudice. Plaintiffs in the four remaining suits have similarly agreed to dismiss their actions in their entirety, with prejudice as to the named plaintiffs only and without prejudice to all other members of the putative class.
v3.19.3
Business Segment Reporting
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Business Segment Reporting
NOTE 19 - BUSINESS SEGMENT REPORTING
The Company operates and measures business activity across two segments: Consumer and Wholesale, with functional activities included in Corporate Other. The Company's business segment structure is based on the manner in which financial information is evaluated by management as well as the products and services provided or the type of client served. The following is a description of the segments and their primary businesses at September 30, 2019.

The Consumer segment is made up of three primary businesses:
•
Consumer Banking provides services to individual consumers and business banking clients through an extensive network of traditional and in-store branches, ATMs, online banking (www.suntrust.com), mobile banking, and by telephone (1-800-SUNTRUST). Financial products and services offered to consumers and small business clients include deposits and payments, loans, and various fee-based services. Consumer Banking also serves as an entry point for clients and provides services for other businesses.
•
Consumer Lending Solutions offers an array of lending products to individual consumers and business banking clients via the Company's Consumer Banking and PWM businesses, correspondent channels, the internet (www.suntrust.com and www.lightstream.com), telephone (1-800-SUNTRUST), as well as through various national
offices and partnerships. Products offered include mortgages, home equity lines, personal credit lines and loans, direct auto, indirect auto, student lending, credit cards, and other lending products. Mortgage products are either sold in the secondary market, generally with servicing rights retained, or held in the Company’s LHFI portfolio. Consumer Lending Solutions also services mortgage loans for other investors in addition to loans held in the Company’s LHFI portfolio.
•
PWM provides a full array of wealth management products and professional services to individual consumers and institutional clients, including loans, deposits, brokerage, professional investment advisory, and trust services to clients seeking active management of their financial resources. Institutional clients are served by the Institutional Investment Solutions business. Online and full-service brokerage products are offered to individual clients through STIS. Investment advisory products and services are offered to clients by STAS, an SEC registered investment advisor. PWM also includes GFO Advisory Services, LLC, which provides family office solutions to clients and their families to help them manage and sustain wealth across multiple generations, including family meeting facilitation, consolidated reporting, expense management, specialty asset management, and business transition advice, as well as other wealth management disciplines.
The Wholesale segment is made up of three primary businesses and the Treasury & Payment Solutions product group:
•
CIB delivers comprehensive capital markets solutions, including advisory, capital-raising, and financial risk management, with the goal of serving the needs of both public and private companies in the Wholesale segment and PWM business. Investment Banking and Corporate Banking teams within CIB serve clients across the nation, offering a full suite of traditional banking and investment banking products and services to companies with annual revenues typically greater than $150 million. Investment Banking serves select industry segments including consumer and retail, energy, technology, financial services, healthcare, industrials, and media and communications. Corporate Banking serves clients across diversified industry sectors based on size, complexity, and frequency of capital markets issuance. CIB also includes the Company's Asset Finance Group, which offers a full complement of asset-based financing solutions such as securitizations, asset-based lending, equipment financing, and structured real estate arrangements.
•
Commercial Banking offers an array of traditional banking products, including lending, cash management, and investment banking solutions via CIB, to commercial clients (generally clients with revenues between $5 million and $250 million), including not-for-profit organizations, governmental entities, healthcare and aging services, and auto dealer financing (floor plan inventory financing). Local teams deliver these solutions along with the Company's industry expertise to commercial clients to help them achieve smart growth.
•
Commercial Real Estate provides a range of credit and deposit services as well as fee-based product offerings on a regional delivery basis to privately held developers, operators, and investors in commercial real estate properties through its National Banking Division. Commercial Real Estate also provides multi-family agency lending and servicing, advisory, and commercial mortgage brokerage services via its Agency Lending division. Additionally, Commercial Real Estate offers tailored financing and equity investment solutions for community development and affordable housing projects through STCC, with particular expertise in Low Income Housing Tax Credits and New Market Tax Credits. Real Estate Corporate and Investment Banking targets relationships with REITs and homebuilders, both publicly-traded and privately owned. The Investor Services Group offers loan administration, special servicing, valuation, and advisory services to third party clients.
•
Treasury & Payment Solutions provides business clients in the Wholesale segment with services required to manage their payments and receipts, combined with the ability to manage and optimize their deposits across all aspects of their business. Treasury & Payment Solutions operates all electronic and paper payment types, including card, wire transfer, ACH, check, and cash. It also provides clients the means to manage their accounts electronically online, both domestically and internationally.
Corporate Other includes management of the Company’s investment securities portfolio, long-term debt, end user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and most real estate assets, as well as the Company's functional activities such as marketing, finance, enterprise risk, legal, enterprise information services, and executive management, among others.
Because business segment results are presented based on management accounting practices, the transition to the consolidated results prepared under U.S. GAAP creates certain differences, which are reflected in reconciling items. Business segment reporting conventions are described below.
•
Net interest income-FTE – is reconciled from Net interest income and is grossed-up on an FTE basis to make income from tax-exempt assets comparable to other taxable products. Segment results reflect matched maturity funds transfer pricing, which ascribes credits or charges based on the economic value or cost created by assets and liabilities of each segment. Differences between these credits and charges are captured as reconciling items.
•
Provision for credit losses – represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to each segment's quarterly change in the ALLL and unfunded commitments reserve balances.
•
Noninterest income – includes federal and state tax credits that are grossed-up on a pre-tax equivalent basis, related primarily to certain community development investments.
•
Provision for income taxes-FTE – is calculated using a blended income tax rate for each segment and includes reversals of the tax adjustments and credits described above. The difference between the calculated provision for income taxes at the segment level and the consolidated provision for income taxes is reported as reconciling items.
The segment’s financial performance is comprised of direct financial results and allocations for various corporate functions that provide management an enhanced view of the segment’s financial performance. Internal allocations include the following:
•
Operational costs – expenses are charged to segments based on an activity-based costing process, which also allocates residual expenses to the segments. Generally, recoveries of these costs are reported in Corporate Other.
•
Support and overhead costs – expenses not directly attributable to a specific segment are allocated based on various drivers (number of equivalent employees, number of PCs/laptops, net revenue, etc.). Recoveries for these allocations are reported in Corporate Other.
The application and development of management reporting methodologies is an active process and undergoes periodic enhancements. The implementation of these enhancements to the internal management reporting methodology may materially affect the results disclosed for each segment, with no impact on consolidated results. If significant changes to management reporting methodologies take place, the impact of these changes is quantified and prior period information is revised, when practicable.

 
Three Months Ended September 30, 2019
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$80,414

 

$77,107

 

$91

 

$—

 

$157,612

Average consumer and commercial deposits
114,132

 
45,817

 
2,779

 
(195
)
 
162,533

Average total assets
90,329

 
93,584

 
38,557

 
2,277

 
224,747

Average total liabilities
114,989

 
52,471

 
31,126

 
(65
)
 
198,521

Average total equity
—

 
—

 
—

 
26,226

 
26,226

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$1,068

 

$529

 

($79
)
 

($8
)
 

$1,510

FTE adjustment
—

 
21

 
—

 
1

 
22

Net interest income-FTE 1
1,068

 
550

 
(79
)
 
(7
)
 
1,532

Provision for credit losses 2
77

 
56

 
—

 
(1
)
 
132

Net interest income after provision for credit losses-FTE
991

 
494

 
(79
)
 
(6
)
 
1,400

Total noninterest income
479

 
368

 
34

 
(38
)
 
843

Total noninterest expense
1,025

 
457

 
(5
)
 
(3
)
 
1,474

Income before provision for income taxes-FTE
445

 
405

 
(40
)
 
(41
)
 
769

Provision for income taxes-FTE 3
102

 
96

 
(10
)
 
(44
)
 
144

Net income including income attributable to noncontrolling interest
343

 
309

 
(30
)
 
3

 
625

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$343

 

$309

 

($32
)
 

$3

 

$623


1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.

 
Three Months Ended September 30, 2018
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$75,234

 

$70,669

 

$93

 

($1
)
 

$145,995

Average consumer and commercial deposits
111,950

 
44,702

 
3,264

 
(568
)
 
159,348

Average total assets
85,933

 
84,909

 
35,647

 
906

 
207,395

Average total liabilities
112,898

 
51,215

 
19,531

 
(524
)
 
183,120

Average total equity
—

 
—

 
—

 
24,275

 
24,275

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$1,056

 

$539

 

($46
)
 

($37
)
 

$1,512

FTE adjustment
—

 
22

 
1

 
(1
)
 
22

Net interest income-FTE 1
1,056

 
561

 
(45
)
 
(38
)
 
1,534

Provision for credit losses 2
36

 
24

 
—

 
1

 
61

Net interest income after provision for credit losses-FTE
1,020

 
537

 
(45
)
 
(39
)
 
1,473

Total noninterest income
444

 
368

 
16

 
(46
)
 
782

Total noninterest expense
991

 
432

 
(35
)
 
(4
)
 
1,384

Income before provision for income taxes-FTE
473

 
473

 
6

 
(81
)
 
871

Provision for income taxes-FTE 3
108

 
112

 
(51
)
 
(52
)
 
117

Net income including income attributable to noncontrolling interest
365

 
361

 
57

 
(29
)
 
754

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$365

 

$361

 

$55

 

($29
)
 

$752


1 
Presented on a matched maturity funds transfer price basis for the segments.
2 
Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 
Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.


 
Nine Months Ended September 30, 2019
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$79,473

 

$76,481

 

$90

 

$—

 

$156,044

Average consumer and commercial deposits
113,067

 
44,777

 
3,224

 
(289
)
 
160,779

Average total assets
89,026

 
92,046

 
38,189

 
1,758

 
221,019

Average total liabilities
113,979

 
51,441

 
30,465

 
(173
)
 
195,712

Average total equity
—

 
—

 
—

 
25,307

 
25,307

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$3,222

 

$1,607

 

($222
)
 

($18
)
 

$4,589

FTE adjustment
—

 
65

 
1

 
—

 
66

Net interest income-FTE 1
3,222

 
1,672

 
(221
)
 
(18
)
 
4,655

Provision for credit losses 2
204

 
208

 
—

 
—

 
412

Net interest income after provision for credit losses-FTE
3,018

 
1,464

 
(221
)
 
(18
)
 
4,243

Total noninterest income
1,415

 
1,137

 
230

 
(129
)
 
2,653

Total noninterest expense
3,029

 
1,382

 
207

 
(16
)
 
4,602

Income before provision for income taxes-FTE
1,404

 
1,219

 
(198
)
 
(131
)
 
2,294

Provision for income taxes-FTE 3
321

 
289

 
(81
)
 
(133
)
 
396

Net income including income attributable to noncontrolling interest
1,083

 
930

 
(117
)
 
2

 
1,898

Less: Net income attributable to noncontrolling interest
—

 
—

 
7

 
—

 
7

Net income

$1,083

 

$930

 

($124
)
 

$2

 

$1,891

1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.

 
Nine Months Ended September 30, 2018
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$74,907

 

$69,375

 

$89

 

($3
)
 

$144,368

Average consumer and commercial deposits
111,008

 
45,247

 
3,234

 
(330
)
 
159,159

Average total assets
84,909

 
83,193

 
35,585

 
1,683

 
205,370

Average total liabilities
111,909

 
51,375

 
18,065

 
(303
)
 
181,046

Average total equity
—

 
—

 
—

 
24,324

 
24,324

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$3,087

 

$1,580

 

($111
)
 

($116
)
 

$4,440

FTE adjustment
—

 
63

 
2

 
—

 
65

Net interest income-FTE 1
3,087

 
1,643

 
(109
)
 
(116
)
 
4,505

Provision for credit losses 2
102

 
19

 
—

 
—

 
121

Net interest income after provision for credit losses-FTE
2,985

 
1,624

 
(109
)
 
(116
)
 
4,384

Total noninterest income
1,347

 
1,096

 
81

 
(116
)
 
2,408

Total noninterest expense
2,984

 
1,307

 
(83
)
 
(17
)
 
4,191

Income before provision for income taxes-FTE
1,348

 
1,413

 
55

 
(215
)
 
2,601

Provision for income taxes-FTE 3
305

 
334

 
(23
)
 
(139
)
 
477

Net income including income attributable to noncontrolling interest
1,043

 
1,079

 
78

 
(76
)
 
2,124

Less: Net income attributable to noncontrolling interest
—

 
—

 
7

 
—

 
7

Net income

$1,043

 

$1,079

 

$71

 

($76
)
 

$2,117

1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
v3.19.3
Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2019
Accumulated Other Comprehensive Income
NOTE 20 - ACCUMULATED OTHER COMPREHENSIVE LOSS
Changes in the components of AOCI, net of tax, are presented in the following table:
(Dollars in millions)
Securities AFS
 
Derivative Instruments
 
Brokered Time Deposits
 
Long-Term Debt
 
Employee Benefit Plans
 
Total
Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

$437

 

($148
)
 

$—

 

($1
)
 

($689
)
 

($401
)
Net unrealized gains arising during the period
169

 
47

 
—

 
—

 
—

 
216

Amounts reclassified to net income
(3
)
 
35

 
—

 
—

 
4

 
36

Other comprehensive income, net of tax
166

 
82

 
—

 
—

 
4

 
252

Balance, end of period

$603

 

($66
)
 

$—

 

($1
)
 

($685
)
 

($149
)
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($519
)
 

($459
)
 

($1
)
 

($2
)
 

($698
)
 

($1,679
)
Net unrealized losses arising during the period
(178
)
 
(37
)
 
—

 
—

 
—

 
(215
)
Amounts reclassified to net income
—

 
17

 
—

 
—

 
3

 
20

Other comprehensive (loss)/income, net of tax
(178
)
 
(20
)
 
—

 
—

 
3

 
(195
)
Balance, end of period

($697
)
 

($479
)
 

($1
)
 

($2
)
 

($695
)
 

($1,874
)
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($357
)
 

($368
)
 

$1

 

($1
)
 

($695
)
 

($1,420
)
Net unrealized gains/(losses) arising during the period
931

 
203

 
(1
)
 
—

 
—

 
1,133

Amounts reclassified to net income
29

 
99

 
—

 
—

 
10

 
138

Other comprehensive income/(loss), net of tax
960

 
302

 
(1
)
 
—

 
10

 
1,271

Balance, end of period

$603

 

($66
)
 

$—

 

($1
)
 

($685
)
 

($149
)
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($1
)
 

($244
)
 

($1
)
 

($4
)
 

($570
)


($820
)
Cumulative effect adjustment related to ASU adoption 1
30

 
(56
)
 
—

 
(1
)
 
(127
)
 
(154
)
Net unrealized (losses)/gains arising during the period
(725
)
 
(209
)
 
—

 
3

 
(7
)
 
(938
)
Amounts reclassified to net income
(1
)
 
30

 
—

 
—

 
9

 
38

Other comprehensive (loss)/income, net of tax
(726
)
 
(179
)
 
—

 
3

 
2

 
(900
)
Balance, end of period

($697
)
 

($479
)
 

($1
)
 

($2
)
 

($695
)
 

($1,874
)

1 
Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information.

Reclassifications from AOCI to Net income, and the related tax effects, are presented in the following table:
(Dollars in millions)
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
Impacted Line Item in the Consolidated Statements of Income
Details About AOCI Components
 
2019
 
2018
 
2019
 
2018
 
Securities AFS:
 
 
 
 
 
 
 
 
 
 
Net realized (gains)/losses on securities AFS
 

($4
)
 

$—

 

$38

 

($1
)
 
Net securities gains/(losses)
Tax effect
 
1

 
—

 
(9
)
 
—

 
Provision for income taxes
 
 
(3
)
 
—

 
29

 
(1
)
 
 
Derivative Instruments:
 
 
 
 
 
 
 
 
 
 
Net realized losses on cash flow hedges
 
46

 
22

 
129

 
39

 
Interest and fees on loans held for investment
Tax effect
 
(11
)
 
(5
)
 
(30
)
 
(9
)
 
Provision for income taxes
 
 
35

 
17

 
99

 
30

 
 
Employee Benefit Plans:
 
 
 
 
 
 
 
 
 
 
Amortization of prior service credit
 
(1
)
 
(2
)
 
(4
)
 
(5
)
 
Employee benefits
Amortization of actuarial loss
 
6

 
6

 
18

 
17

 
Employee benefits
 
 
5

 
4

 
14

 
12

 
 
Tax effect
 
(1
)
 
(1
)
 
(4
)
 
(3
)
 
Provision for income taxes
 
 
4

 
3

 
10

 
9

 
 
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications from AOCI to net income
 

$36

 

$20

 

$138

 

$38

 
 
v3.19.3
Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Accounting Policies Recently Adopted and Pending Accounting Pronouncements

Accounting Pronouncements
The following table summarizes ASUs issued by the FASB that were adopted during the nine months ended September 30, 2019 or not yet adopted as of September 30, 2019, that could have a material effect on the Company’s financial statements:
Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Adopted in 2019
ASU 2016-02, Leases (Topic 842) and subsequent related ASUs
These ASUs create and amend ASC Topic 842, Leases, which supersedes ASC Topic 840, Leases. ASC Topic 842 requires lessees to recognize right-of-use assets and associated liabilities that arise from leases, with the exception of short-term leases. These ASUs do not make significant changes to lessor accounting; however, there were certain improvements made to align lessor accounting with the lessee accounting model and ASC Topic 606, Revenue from Contracts with Customers. Furthermore, there are several new qualitative and quantitative disclosures required for lessees and lessors, including updated guidance around the presentation of certain cash receipts on the Company’s Consolidated Statements of Cash Flows.

January 1, 2019
The Company adopted these ASUs on January 1, 2019, using a modified retrospective transition approach as of the date of adoption, which resulted in the recognition of $1.2 billion and $1.3 billion in right-of-use assets and associated lease liabilities, respectively, arising from operating leases in which the Company is the lessee, on the Company's Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption was based primarily on the present value of unpaid future minimum lease payments, the amount of which was based on the population of leases in effect at the date of adoption. At September 30, 2019, right-of-use assets and lease liabilities recorded on the Company’s Consolidated Balance Sheets totaled $1.1 billion and $1.2 billion, respectively.
 
Upon adoption, the Company also recognized a cumulative effect adjustment of $31 million to increase the beginning balance of retained earnings (as of January 1, 2019) for deferred gains on sale-leaseback transactions that occurred prior to the date of adoption and for other transition provisions. These ASUs did not have a material impact on the timing of expense or income recognition in the Company’s Consolidated Statements of Income.

Furthermore, effective January 1, 2019, the Company prospectively changed its presentation of certain cash receipts related to sales-type and direct financing leases in which it is the lessor on its Consolidated Statements of Cash Flows. Specifically, the Company began including on its Consolidated Statements of Cash Flows the interest portion of lessee payments received from sales-type and direct financing leases within operating activities, with the principal portion remaining within investing activities. For periods prior to the date of adoption, interest payments were not retrospectively reclassified and remain within investing activities. For the three and nine months ended September 30, 2019, the Company included $36 million and $106 million, respectively, of interest payments received from these sales-type and direct financing leases within operating activities on its Consolidated Statements of Cash Flows.

For additional information and required disclosures related to ASC 842, see Note 10, “Leases.”


Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Not Yet Adopted
ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) and subsequent related ASUs
These ASUs create and amend ASC Topic 326, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology with a current expected credit loss methodology for financial instruments measured at amortized cost and other commitments to extend credit. For this purpose, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of voluntary prepayments and considering available information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is deducted from the amortized cost basis of the financial assets to reflect the net amount expected to be collected on the financial assets. Additional quantitative and qualitative disclosures are required upon adoption. The change to the allowance for credit losses at the time of the adoption will be made with a cumulative effect adjustment to retained earnings.

Although the current expected credit loss methodology does not apply to AFS debt securities, these ASUs do require entities to record an allowance when recognizing credit losses for AFS securities, rather than recording a direct write-down of the carrying amount.

January 1, 2020
The Company formed a cross-functional team to oversee the implementation of these ASUs. A detailed implementation plan was developed and progress is substantially complete in regards to the identification and staging of data, development and validation of models, refinement of economic forecasting processes, and documentation of accounting policy decisions. Additionally, a new credit loss forecasting process was implemented in the first half of 2019, resulting in modifications to the Company’s associated internal control environment that will be effective upon adoption of these ASUs. In the first half of 2019, the Company performed testing in which methodologies, processes, and internal controls were evaluated and refined. The Company performed a full parallel run of the new methodology in the third quarter of 2019 and will perform another full parallel run in the fourth quarter of 2019. The parallel runs include execution of internal controls, supporting analytics, reserve estimation, process and procedure documentation, and subject matter expert reviews. The Company continues to refine its processes and methodology based on the results of these exercises.

The Company plans to adopt these ASUs on January 1, 2020, and it continues to evaluate the impact that these ASUs will have on its Consolidated Financial Statements and related disclosures. The Company anticipates that an increase to the allowance for credit losses will be recognized upon adoption to provide for the expected credit losses over the estimated life of the financial assets. The actual magnitude of the increase will depend on existing and forecasted economic conditions and trends in the Company’s portfolio at the time of adoption. The Company is also evaluating the anticipated impact that the Merger will have on its estimated impact of adopting these ASUs on its Consolidated Financial Statements.

ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This ASU amends ASC Topic 350, Intangibles - Goodwill and Other, to simplify the subsequent measurement of goodwill, by eliminating Step 2 from the goodwill impairment test. The amendments require an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. This ASU requires an entity to recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, with the loss limited to the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis.

January 1, 2020

Based on the Company’s most recent qualitative goodwill impairment assessment performed in the third quarter of 2019, there were no reporting units for which it was more-likely-than-not that the carrying amount of a reporting unit exceeded its respective fair value; therefore, this ASU would not currently have an impact on the Company’s Consolidated Financial Statements or related disclosures. However, if subsequent to adoption, the carrying amount of a reporting unit exceeds its respective fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value.
ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

This ASU amends ASC Subtopic 350-40, Intangibles - Goodwill and Other - Internal-Use Software, to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company may apply this ASU either retrospectively, or prospectively to all implementation costs incurred after the date of adoption.

January 1, 2020


The Company’s current accounting policy for capitalizing implementation costs incurred in a hosting arrangement generally aligns with the requirements of this ASU; therefore, the Company's adoption of this ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements or related disclosures.


v3.19.3
Schedule of Disaggregation of Revenue (Tables)
 9 Months Ended
Sep. 30, 2019
Disaggregation of Revenue [Line Items]  
Disaggregation of Revenue [Table Text Block]
The following tables reflect the Company’s noninterest income disaggregated by financial statement line item, business segment, and by the amount of each revenue stream that is in scope and out of scope of ASC Topic 606, Revenue from Contracts with Customers. Refer to Note 1, “Significant Accounting Policies,” and Note 2, “Revenue Recognition,” to
the Company's 2018 Annual Report on Form 10-K, for the Company's accounting policies for recognizing noninterest income, including the nature and timing of such revenue streams. The Company's contracts with customers generally do not contain terms that require significant judgment to determine the amount of revenue to recognize.
 
Three Months Ended September 30, 2019
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$112

 

$29

 

$—

 

$141

Other charges and fees 3
27

 
4

 
59

 
90

Card fees
57

 
24

 
2

 
83

Investment banking income
—

 
97

 
62

 
159

Trading income
—

 
—

 
29

 
29

Mortgage-related income
—

 
—

 
106

 
106

Trust and investment management income
77

 
—

 
1

 
78

Retail investment services 4
76

 
—

 
—

 
76

Insurance settlement
—

 
—

 
5

 
5

Commercial real estate-related income
—

 
—

 
32

 
32

Net securities gains/(losses)
—

 
—

 
4

 
4

Other noninterest income
6

 
—

 
34

 
40

Total noninterest income

$355

 

$154

 

$334

 

$843


1 
Consumer total noninterest income and Wholesale total noninterest income exclude $124 million and $214 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($4) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.

 
Three Months Ended September 30, 2018
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$111

 

$33

 

$—

 

$144

Other charges and fees 3
28

 
3

 
58

 
89

Card fees
49

 
26

 
—

 
75

Investment banking income
—

 
101

 
49

 
150

Trading income
—

 
—

 
42

 
42

Mortgage-related income
—

 
—

 
83

 
83

Trust and investment management income
79

 
—

 
1

 
80

Retail investment services 4
73

 
—

 
1

 
74

Insurance settlement
—

 
—

 
—

 
—

Commercial real estate-related income
—

 
—

 
24

 
24

Net securities gains/(losses)
—

 
—

 
—

 
—

Other noninterest income
5

 
—

 
16

 
21

Total noninterest income

$345

 

$163

 

$274

 

$782

1 
Consumer total noninterest income and Wholesale total noninterest income exclude $99 million and $205 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($30) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.


 
Nine Months Ended September 30, 2019
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$324

 

$93

 

$—

 

$417

Other charges and fees 3
82

 
12

 
171

 
265

Card fees
168

 
75

 
4

 
247

Investment banking income
—

 
261

 
170

 
431

Trading income
—

 
—

 
144

 
144

Mortgage-related income
—

 
—

 
294

 
294

Trust and investment management income
220

 
—

 
2

 
222

Retail investment services 4
218

 
1

 
1

 
220

Insurance settlement
—

 
—

 
210

 
210

Commercial real estate-related income
—

 
—

 
106

 
106

Net securities gains/(losses)
—

 
—

 
(38
)
 
(38
)
Other noninterest income
17

 
—

 
118

 
135

Total noninterest income

$1,029

 

$442

 

$1,182

 

$2,653


1 
Consumer total noninterest income and Wholesale total noninterest income exclude $386 million and $695 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes $101 million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $31 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.

 
Nine Months Ended September 30, 2018
(Dollars in millions)
 Consumer 1
 
 Wholesale 1
 
  Out of Scope 1, 2
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$330

 

$103

 

$—

 

$433

Other charges and fees 3
85

 
8

 
171

 
264

Card fees
160

 
78

 
3

 
241

Investment banking income
—

 
287

 
166

 
453

Trading income
—

 
—

 
137

 
137

Mortgage-related income
—

 
—

 
256

 
256

Trust and investment management income
228

 
—

 
2

 
230

Retail investment services 4
216

 
2

 
1

 
219

Insurance settlement
—

 
—

 
—

 
—

Commercial real estate-related income
—

 
—

 
66

 
66

Net securities gains/(losses)
—

 
—

 
1

 
1

Other noninterest income
17

 
—

 
91

 
108

Total noninterest income

$1,036

 

$478

 

$894

 

$2,408


1 
Consumer total noninterest income and Wholesale total noninterest income exclude $311 million and $618 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($35) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
2 
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
3 
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
4 
The Company recognized $38 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods
v3.19.3
Federal Funds Sold and Securities Financing Activities (Tables)
 9 Months Ended
Sep. 30, 2019
Securities Purchased under Agreements to Resell [Abstract]  
Schedule of Resale Agreements [Table Text Block]
Fed Funds sold and securities borrowed or purchased under agreements to resell were as follows:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Fed funds sold

$5

 

$42

Securities borrowed
491

 
394

Securities purchased under agreements to resell
818

 
1,243

Total Fed funds sold and securities borrowed or purchased under agreements to resell

$1,314

 

$1,679
Securities sold under agreements to repurchase remaining contractual maturity [Table Text Block]
Securities sold under agreements to repurchase are accounted for as secured borrowings. The following table presents the Company’s related activity, by collateral type and remaining contractual maturity:
 
September 30, 2019
 
December 31, 2018
(Dollars in millions)
Overnight and Continuous
 
Up to 30 days
 
Total
 
Overnight and Continuous
 
Up to 30 days
 
30-90 days
 
Total
U.S. Treasury securities

$89

 

$—

 

$89

 

$197

 

$7

 

$—

 

$204

Federal agency securities
95

 
9

 
104

 
112

 
10

 
—

 
122

MBS - agency residential
1,031

 
143

 
1,174

 
881

 
35

 
—

 
916

CP
74

 
—

 
74

 
78

 
—

 
—

 
78

Corporate and other debt securities
196

 
192

 
388

 
216

 
158

 
80

 
454

Total securities sold under agreements to repurchase

$1,485

 

$344

 

$1,829

 

$1,484

 

$210

 

$80

 

$1,774
Netting of Financial Instruments - Repurchase Agreements [Table Text Block]
The following table presents the Company's securities borrowed or purchased under agreements to resell and securities sold under agreements to repurchase that are subject to MRAs. Generally, MRAs require collateral to exceed the asset or liability recognized on the balance sheet. Transactions subject to these agreements are treated as collateralized financings, and those with a single counterparty are permitted to be presented net on the Company's Consolidated Balance Sheets, provided certain criteria are met that permit balance sheet netting. At September 30, 2019 and December 31, 2018, there were no such transactions subject to legally enforceable MRAs that were eligible for balance sheet netting. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs. While these agreements are typically over-collateralized, the amount of collateral presented in this table is limited to the amount of the related recognized asset or liability for each counterparty.
(Dollars in millions)
Gross
Amount
 
Amount
Offset
 
Net Amount
Presented in
Consolidated
Balance Sheets
 
Held/Pledged Financial
Instruments
 
Net
Amount
September 30, 2019
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,309

 

$—

 

$1,309

1 

$1,293

 

$16

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,829

 
—

 
1,829

 
1,829

 
—

 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,637

 

$—

 

$1,637

1 

$1,624

 

$13

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,774

 
—

 
1,774

 
1,774

 
—


1 Excludes $5 million and $42 million of Fed Funds sold that are not subject to a master netting agreement at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives (Tables)
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]
The fair values of the components of trading assets and liabilities and derivative instruments are presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Trading Assets and Derivative Instruments:
 
 
 
U.S. Treasury securities

$212

 

$262

Federal agency securities
319

 
188

U.S. states and political subdivisions
43

 
54

MBS - agency residential
1,004

 
860

MBS - agency commercial
51

 
—

ABS
7

 
—

Corporate and other debt securities
628

 
700

CP
122

 
190

Equity securities
86

 
73

Derivative instruments 1
1,770

 
639

Trading loans 2
2,862

 
2,540

Total trading assets and derivative instruments

$7,104

 

$5,506

Trading Liabilities and Derivative Instruments:
 
 
 
U.S. Treasury securities

$538

 

$801

MBS - agency
—

 
3

Corporate and other debt securities
539

 
385

Equity securities
20

 
5

Derivative instruments 1
274

 
410

Trading loans
9

 
—

Total trading liabilities and derivative instruments

$1,380

 

$1,604

1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists.
2 Includes loans related to TRS.
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

Pledged trading assets are presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Pledged trading assets to secure repurchase agreements 1

$1,226

 

$1,418

Pledged trading assets to secure certain derivative agreements
62

 
22

Pledged trading assets to secure other arrangements
40

 
40

1 Repurchase agreements secured by collateral totaled $1.2 billion and $1.4 billion at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Loans (Tables)
 9 Months Ended
Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Composition of Loan Portfolio
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Commercial loans:
 
 
 
C&I 1

$73,374

 

$71,137

CRE
9,491

 
7,265

Commercial construction
2,142

 
2,538

Total commercial LHFI
85,007

 
80,940

Consumer loans:
 
 
 
Residential mortgages - guaranteed
457

 
459

Residential mortgages - nonguaranteed 2
28,810

 
28,836

Residential home equity products
8,696

 
9,468

Residential construction
144

 
184

Guaranteed student
7,146

 
7,229

Other direct
12,431

 
10,615

Indirect
14,060

 
12,419

Credit cards
1,704

 
1,689

Total consumer LHFI
73,448

 
70,899

LHFI

$158,455

 

$151,839

LHFS 3

$2,006

 

$1,468

1 Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018, respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018, respectively.
2 Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018, respectively.
3 Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018, respectively.
Loan Purchases, sales, and transfers [Table Text Block]
LHFI Purchases, Sales, and Transfers
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Non-routine LHFI purchases 1, 2:
Consumer loans

$160

 

$101

 

$418

 

$101

Routine LHFI purchases 2, 3:
 
 
 
 
 
 
Consumer loans
517

 
545

 
1,433

 
1,568

LHFI sales 4, 5:
 
 
 
 
 
 
 
Commercial loans
171

 
14

 
387

 
87

Consumer loans
—

 
—

 
432

 
100

Transfers from:
 
 
 
 
 
 
 
LHFI to LHFS
 
 
 
 
812

 
449

LHFS to LHFI
 
 
 
 
17

 
23

LHFI to OREO
 
 
 
 
33

 
44

1 Purchases are episodic in nature and are conducted based on specific business strategies.
2 Represents UPB of loans purchased.
3 Purchases are routine in nature and are conducted in the normal course of business.
4 Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business.
5 The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019, and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018.
LHFI by Credit Quality Indicator

LHFI by credit quality indicator are presented in the following tables:
 
Commercial Loans
 
C&I
 
CRE
 
Commercial Construction
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Risk rating:
 
 
 
 
 
 
 
 
 
 
 
Pass

$70,739

 

$69,095

 

$9,410

 

$7,165

 

$2,082

 

$2,459

Criticized accruing
2,285

 
1,885

 
80

 
98

 
60

 
79

Criticized nonaccruing
350

 
157

 
1

 
2

 
—

 
—

Total

$73,374

 

$71,137

 

$9,491

 

$7,265

 

$2,142

 

$2,538



 
 Consumer Loans 1
 
Residential Mortgages -
Nonguaranteed
 
Residential Home Equity Products
 
Residential Construction
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$25,985

 

$25,764

 

$7,406

 

$8,060

 

$116

 

$151

620 - 699
2,219

 
2,367

 
929

 
1,015

 
22

 
27

Below 620 2
606

 
705

 
361

 
393

 
6

 
6

Total

$28,810

 

$28,836

 

$8,696

 

$9,468

 

$144

 

$184


 
Other Direct
 
Indirect
 
Credit Cards
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$10,671

 

$9,296

 

$10,904

 

$9,315

 

$1,145

 

$1,142

620 - 699
1,543

 
1,175

 
2,367

 
2,395

 
423

 
420

Below 620 2
217

 
144

 
789

 
709

 
136

 
127

Total

$12,431

 

$10,615

 

$14,060

 

$12,419

 

$1,704

 

$1,689


1 Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018, respectively, for which there was nominal risk of principal loss due to the government guarantee.
2  For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned.
Payment Status for the LHFI Portfolio

The LHFI portfolio by payment status is presented in the following tables:

 
September 30, 2019
 
Accruing
 
 
 
 
(Dollars in millions)
Current
 
30-89 Days
Past Due
 
90+ Days
Past Due
 
 Nonaccruing 1
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$72,955

 

$55

 

$14

 

$350

 

$73,374

CRE
9,486

 
3

 
1

 
1

 
9,491

Commercial construction
2,142

 
—

 
—

 
—

 
2,142

Total commercial LHFI
84,583

 
58

 
15

 
351

 
85,007

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
131

 
25

 
301

 
—

3 
457

Residential mortgages - nonguaranteed 2
28,620

 
55

 
10

 
125

 
28,810

Residential home equity products
8,534

 
61

 
1

 
100

 
8,696

Residential construction
135

 
1

 
—

 
8

 
144

Guaranteed student
5,563

 
543

 
1,040

 
—

3 
7,146

Other direct
12,362

 
53

 
5

 
11

 
12,431

Indirect
13,951

 
103

 
1

 
5

 
14,060

Credit cards
1,666

 
18

 
20

 
—

 
1,704

Total consumer LHFI
70,962

 
859

 
1,378

 
249

 
73,448

Total LHFI

$155,545

 

$917

 

$1,393

 

$600

 

$158,455

1 Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
2 Includes $124 million of LHFI measured at fair value, the majority of which were accruing current.
3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. 


 
December 31, 2018
 
Accruing
 
 
 
 
(Dollars in millions)
Current
 
30-89 Days
Past Due
 
90+ Days
Past Due
 
 Nonaccruing 1
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$70,901

 

$64

 

$15

 

$157

 

$71,137

CRE
7,259

 
3

 
1

 
2

 
7,265

Commercial construction
2,538

 
—

 
—

 
—

 
2,538

Total commercial LHFI
80,698

 
67

 
16

 
159

 
80,940

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
125

 
39

 
295

 
—

3 
459

Residential mortgages - nonguaranteed 2
28,552

 
70

 
10

 
204

 
28,836

Residential home equity products
9,268

 
62

 
—

 
138

 
9,468

Residential construction
170

 
3

 
—

 
11

 
184

Guaranteed student
5,236

 
685

 
1,308

 
—

3 
7,229

Other direct
10,559

 
45

 
4

 
7

 
10,615

Indirect
12,286

 
125

 
1

 
7

 
12,419

Credit cards
1,654

 
17

 
18

 
—

 
1,689

Total consumer LHFI
67,850

 
1,046

 
1,636

 
367

 
70,899

Total LHFI

$148,548

 

$1,113

 

$1,652

 

$526

 

$151,839

1 Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
2 Includes $163 million of LHFI measured at fair value, the majority of which were accruing current.
3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government.
LHFI Considered Impaired

 
September 30, 2019
 
December 31, 2018
(Dollars in millions)
Unpaid
Principal
Balance
 
 Carrying 1
Value
 
Related
ALLL
 
Unpaid
Principal
Balance
 
 Carrying 1
Value
 
Related
ALLL
Impaired LHFI with no ALLL recorded:
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
C&I

$48

 

$39

 

$—

 

$132

 

$79

 

$—

CRE
—

 
—

 
—

 
10

 
—

 
—

Total commercial LHFI with no ALLL recorded
48

 
39

 
—

 
142

 
79

 
—

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
354

 
283

 
—

 
501

 
397

 
—

Residential construction
7

 
4

 
—

 
12

 
7

 
—

Total consumer LHFI with no ALLL recorded
361

 
287

 
—

 
513

 
404

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
C&I
311

 
300

 
71

 
81

 
70

 
13

Total commercial LHFI with an ALLL recorded
311

 
300

 
71

 
81

 
70

 
13

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
561

 
561

 
54

 
1,006

 
984

 
96

Residential home equity products
753

 
721

 
41

 
849

 
799

 
44

Residential construction
70

 
68

 
5

 
79

 
76

 
6

Other direct
57

 
57

 
1

 
57

 
57

 
1

Indirect
136

 
135

 
4

 
133

 
133

 
5

Credit cards
12

 
12

 
3

 
30

 
9

 
2

Total consumer LHFI with an ALLL recorded
1,589

 
1,554

 
108

 
2,154

 
2,058

 
154

Total impaired LHFI

$2,309

 

$2,180

 

$179

 

$2,890

 

$2,611

 

$167

1 Carrying value reflects charge-offs that have been recognized plus other amounts that have been applied to adjust the net book balance.


Included in the impaired LHFI carrying values above at September 30, 2019 and December 31, 2018 were $1.8 billion and $2.3 billion, respectively, of accruing TDRs held for investment, of which 97% were current. This reduction was driven by our sale of $465 million of accruing TDRs in the second
quarter of 2019 for a net gain on sale of $44 million. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K, for further information regarding the Company’s loan impairment policy.



 
Three Months Ended September 30
 
Nine Months Ended September 30
 
2019
 
2018
 
2019
 
2018
(Dollars in millions)
Average
Carrying Value
 
 Interest 1
Income
Recognized
 
Average
Carrying Value
 
 Interest 1
Income
Recognized
 
Average
Carrying
Value
 
 Interest 1
Income
Recognized
 
Average
Carrying
Value
 
 Interest 1
Income
Recognized
Impaired LHFI with no ALLL recorded:
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I

$40

 

$—

 

$44

 

$—

 

$41

 

$—

 

$45

 

$1

CRE
—

 
—

 
20

 
—

 
—

 
—

 
20

 
—

Total commercial LHFI with no ALLL recorded
40

 
—

 
64

 
—

 
41

 
—

 
65

 
1

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
284

 
4

 
381

 
4

 
287

 
12

 
386

 
11

Residential construction
4

 
—

 
7

 
—

 
4

 
—

 
7

 
—

Total consumer LHFI with no ALLL recorded
288

 
4

 
388

 
4

 
291

 
12

 
393

 
11

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C&I
303

 
2

 
177

 
—

 
305

 
8

 
176

 
3

CRE
—

 
—

 
21

 
—

 
—

 
—

 
22

 
—

Total commercial LHFI with an ALLL recorded
303

 
2

 
198

 
—

 
305

 
8

 
198

 
3

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
562

 
8

 
1,027

 
13

 
565

 
28

 
1,031

 
39

Residential home equity products
723

 
8

 
824

 
9

 
732

 
25

 
833

 
27

Residential construction
68

 
1

 
80

 
1

 
69

 
3

 
82

 
4

Other direct
58

 
1

 
57

 
1

 
58

 
3

 
58

 
3

Indirect
139

 
2

 
134

 
2

 
147

 
5

 
141

 
5

Credit cards
12

 
—

 
8

 
—

 
11

 
1

 
8

 
1

Total consumer LHFI with an ALLL recorded
1,562

 
20

 
2,130

 
26

 
1,582

 
65

 
2,153

 
79

Total impaired LHFI

$2,193

 

$26

 

$2,780

 

$30

 

$2,219

 

$85

 

$2,809

 

$94

1 Of the interest income recognized during the three and nine months ended September 30, 2019, cash basis interest income was immaterial and $9 million, respectively.
Of the interest income recognized during the three and nine months ended September 30, 2018, cash basis interest income was immaterial.

Nonperforming Assets

NPAs are presented in the following table:

(Dollars in millions)
September 30, 2019
 
December 31, 2018
NPAs:
 
 
 
Commercial NPLs:
 
 
 
C&I

$350

 

$157

CRE
1

 
2

Consumer NPLs:
 
 
 
Residential mortgages - nonguaranteed
125

 
204

Residential home equity products
100

 
138

Residential construction
8

 
11

Other direct
11

 
7

Indirect
5

 
7

Total nonaccrual LHFI/NPLs 1
600

 
526

OREO 2
52

 
54

Other repossessed assets
8

 
9

Nonperforming LHFS
1

 
—

Total NPAs

$661

 

$589

1 Nonaccruing restructured LHFI are included in total nonaccrual LHFI/NPLs.
2 Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.
TDR Modifications

 
Three Months Ended September 30, 2019 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
32

 

$—

 

$12

 

$12

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
30

 
2

 
2

 
4

Residential home equity products
54

 
—

 
3

 
3

Other direct
234

 
—

 
3

 
3

Indirect
634

 
—

 
16

 
16

Credit cards
537

 
3

 
—

 
3

Total TDR additions
1,521

 

$5



$36

 

$41

1 Includes loans modified under the terms of a TDR that were charged-off during the period.

 
Nine Months Ended September 30, 2019 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
88

 

$1

 

$17

 

$18

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
88

 
4

 
7

 
11

Residential home equity products
215

 
2

 
13

 
15

Other direct
642

 
—

 
10

 
10

Indirect
1,755

 
—

 
42

 
42

Credit cards
1,531

 
7

 
—

 
7

Total TDR additions
4,319

 

$14

 

$89

 

$103


1 Includes loans modified under the terms of a TDR that were charged-off during the period.

 
Three Months Ended September 30, 2018 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
47

 

$—

 

$16

 

$16

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
48

 
3

 
7

 
10

Residential home equity products
130

 
1

 
11

 
12

Other direct
141

 
—

 
2

 
2

Indirect
559

 
—

 
14

 
14

Credit cards
345

 
1

 
—

 
1

Total TDR additions
1,270

 

$5

 

$50

 

$55

1 Includes loans modified under the terms of a TDR that were charged-off during the period.
 
Nine Months Ended September 30, 2018 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
122

 

$—

 

$75

 

$75

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
267

 
18

 
46

 
64

Residential home equity products
410

 
1

 
34

 
35

Residential construction
4

 
—

 
—

 
—

Other direct
469

 
—

 
6

 
6

Indirect
1,954

 
—

 
46

 
46

Credit cards
1,079

 
4

 
—

 
4

Total TDR additions
4,305

 

$23

 

$207

 

$230

1 Includes loans modified under the terms of a TDR that were charged-off during the period.
v3.19.3
Securities Available for Sale (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Securities Portfolio Composition
Investment Securities Portfolio Composition
 
September 30, 2019
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$3,915

 

$103

 

$—

 

$4,018

Federal agency securities
123

 
1

 
—

 
124

U.S. states and political subdivisions
564

 
9

 
1

 
572

MBS - agency residential
22,069

 
520

 
4

 
22,585

MBS - agency commercial
2,881

 
103

 
1

 
2,983

MBS - non-agency commercial
1,008

 
56

 
—

 
1,064

Corporate and other debt securities
12

 
—

 
—

 
12

Total securities AFS

$30,572

 

$792

 

$6

 

$31,358

 
 
 
 
 
 
 
 
 
 December 31, 2018 
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
Securities AFS:
 
 
 
 
 
 
 
U.S. Treasury securities

$4,277

 

$—

 

$66

 

$4,211

Federal agency securities
221

 
2

 
2

 
221

U.S. states and political subdivisions
606

 
4

 
21

 
589

MBS - agency residential
23,161

 
128

 
425

 
22,864

MBS - agency commercial
2,688

 
8

 
69

 
2,627

MBS - non-agency commercial
943

 
—

 
27

 
916

Corporate and other debt securities
14

 
—

 
—

 
14

Total securities AFS

$31,910

 

$142

 

$610

 

$31,442
Investment Income [Table Text Block]
The following table presents interest on securities AFS:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Taxable interest

$211

 

$207

 

$646

 

$614

Tax-exempt interest
4

 
5

 
13

 
14

Total interest on securities AFS

$215

 

$212

 

$659

 

$628
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life
The following table presents the amortized cost, fair value, and weighted average yield of the Company's investment securities at September 30, 2019, by remaining contractual maturity, with the exception of MBS, which are based on estimated average life. Receipt of cash flows may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.
 
Distribution of Remaining Maturities
(Dollars in millions)
Due in 1 Year or Less
 
Due After 1 Year through 5 Years
 
Due After 5 Years through 10 Years
 
Due After 10 Years
 
Total
Amortized Cost:
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$632

 

$2,331

 

$952

 

$—

 

$3,915

Federal agency securities
50

 
10

 
6

 
57

 
123

U.S. states and political subdivisions
—

 
90

 
317

 
157

 
564

MBS - agency residential
1,435

 
9,389

 
10,890

 
355

 
22,069

MBS - agency commercial
—

 
835

 
1,683

 
363

 
2,881

MBS - non-agency commercial
—

 
12

 
996

 
—

 
1,008

Corporate and other debt securities
—

 
12

 
—

 
—

 
12

Total securities AFS

$2,117

 

$12,679

 

$14,844

 

$932

 

$30,572

Fair Value:
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$634

 

$2,389

 

$995

 

$—

 

$4,018

Federal agency securities
50

 
10

 
6

 
58

 
124

U.S. states and political subdivisions
—

 
95

 
320

 
157

 
572

MBS - agency residential
1,485

 
9,630

 
11,108

 
362

 
22,585

MBS - agency commercial
—

 
851

 
1,752

 
380

 
2,983

MBS - non-agency commercial
—

 
12

 
1,052

 
—

 
1,064

Corporate and other debt securities
—

 
12

 
—

 
—

 
12

Total securities AFS

$2,169

 

$12,999

 

$15,233

 

$957

 

$31,358

 Weighted average yield 1
3.09
%
 
2.81
%
 
2.93
%
 
3.02
%
 
2.89
%
1 Weighted average yields are based on amortized cost and presented on an FTE basis.
Securities in a Continuous Unrealized Loss Position

Investment securities in an unrealized loss position at period end are presented in the following tables:
 
September 30, 2019
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$50

 

$—

 

$—

 

$—

 

$50

 

$—

Federal agency securities
20

 
—

 
—

 
—

 
20

 
—

U.S. states and political subdivisions
119

 
1

 
—

 
—

 
119

 
1

MBS - agency residential
1,089

 
4

 
—

 
—

 
1,089

 
4

MBS - agency commercial
207

 
1

 
—

 
—

 
207

 
1

Corporate and other debt securities
—

 
—

 
6

 
—

 
6

 
—

Total temporarily impaired securities AFS
1,485

 
6


6


—


1,491


6

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
Total OTTI securities AFS
—

 
—

 
—

 
—

 
—

 
—

Total impaired securities AFS

$1,485

 

$6

 

$6

 

$—

 

$1,491

 

$6

1 Unrealized losses less than $0.5 million are presented as zero within the table.
2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.

 
December 31, 2018
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
 
Fair
Value
 
 Unrealized 1
Losses
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$—

 

$4,177

 

$66

 

$4,177

 

$66

Federal agency securities
—

 
—

 
63

 
2

 
63

 
2

U.S. states and political subdivisions
49

 
1

 
430

 
20

 
479

 
21

MBS - agency residential
1,229

 
5

 
15,384

 
420

 
16,613

 
425

MBS - agency commercial
68

 
—

 
1,986

 
69

 
2,054

 
69

MBS - non-agency commercial
106

 
1

 
773

 
26

 
879

 
27

Corporate and other debt securities
—

 
—

 
9

 
—

 
9

 
—

Total temporarily impaired securities AFS
1,452

 
7

 
22,822

 
603

 
24,274

 
610

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
Total OTTI securities AFS
—

 
—

 
—

 
—

 
—

 
—

Total impaired securities AFS

$1,452

 

$7

 

$22,822

 

$603

 

$24,274

 

$610

1 Unrealized losses less than $0.5 million are presented as zero within the table.
2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.
Realized Gain (Loss) on Investments [Table Text Block]
Net securities gains or losses are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings. During the nine months ended September 30, 2019, the Company recognized $38 million in net securities losses, driven by the Company's second quarter of 2019 repositioning of a portion of the securities AFS portfolio, which resulted in $42 million of gross realized losses. This repositioning in the second quarter of 2019 was not due to any requirement to sell the securities before their anticipated recovery or maturity.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Gross realized gains

$4

 

$—

 

$4

 

$7

Gross realized losses
—

 
—

 
(42
)
 
(6
)
OTTI credit losses recognized in earnings
—

 
—

 
—

 
—

Net securities gains/(losses)

$4

 

$—

 

($38
)
 

$1
v3.19.3
Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2019
Allowance for Credit Losses [Abstract]  
Activity in the Allowance for Credit Losses
The allowance for credit losses consists of the ALLL and the unfunded commitments reserve. Activity in the allowance for credit losses by LHFI segment is presented in the following tables:
 
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
(Dollars in millions)
Commercial
 
Consumer
 
Total
 
Commercial
 
Consumer
 
Total
ALLL, beginning of period

$1,202

 

$479

 

$1,681

 

$1,080

 

$535

 

$1,615

Provision for loan losses
42

 
88

 
130

 
208

 
201

 
409

Loan charge-offs
(35
)
 
(104
)
 
(139
)
 
(88
)
 
(289
)
 
(377
)
Loan recoveries
5

 
22

 
27

 
14

 
69

 
83

Other 1
—

 
—

 
—

 
—

 
(31
)
 
(31
)
ALLL, end of period
1,214

 
485

 
1,699

 
1,214

 
485

 
1,699

 
 
 
 
 
 
 
 
 
 
 
 
Unfunded commitments reserve, beginning of period 2
70

 
—

 
70

 
69

 
—

 
69

Provision for unfunded commitments
2

 
—

 
2

 
3

 
—

 
3

Unfunded commitments reserve, end of period 2
72

 
—

 
72

 
72

 
—

 
72

 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses, end of period

$1,286

 

$485

 

$1,771

 

$1,286

 

$485

 

$1,771


1  Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019.
2 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.

 
Three Months Ended September 30, 2018
 
Nine Months Ended September 30, 2018
(Dollars in millions)
Commercial
 
Consumer
 
Total
 
Commercial
 
Consumer
 
Total
ALLL, beginning of period

$1,068

 

$582

 

$1,650

 

$1,101

 

$634

 

$1,735

Provision for loan losses
36

 
25

 
61

 
37

 
91

 
128

Loan charge-offs
(51
)
 
(71
)
 
(122
)
 
(95
)
 
(234
)
 
(329
)
Loan recoveries
9

 
25

 
34

 
19

 
70

 
89

ALLL, end of period
1,062

 
561

 
1,623

 
1,062

 
561

 
1,623

 
 
 
 
 
 
 
 
 
 
 
 
Unfunded commitments reserve, beginning of period 1
72

 
—

 
72

 
79

 
—

 
79

(Benefit)/provision for unfunded commitments
—

 
—

 
—

 
(7
)
 
—

 
(7
)
Unfunded commitments reserve, end of period 1
72

 
—

 
72

 
72

 
—

 
72

 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses, end of period

$1,134

 

$561

 

$1,695

 

$1,134

 

$561

 

$1,695


1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses
The Company’s LHFI portfolio and related ALLL are presented in the following tables:
 
September 30, 2019
 
Commercial Loans
 
Consumer Loans
 
Total
(Dollars in millions)
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
LHFI evaluated for impairment:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated

$339

 

$71

 

$1,841

 

$108

 

$2,180

 

$179

Collectively evaluated
84,668

 
1,143

 
71,483

 
377

 
156,151

 
1,520

Total evaluated
85,007

 
1,214

 
73,324

 
485

 
158,331

 
1,699

LHFI measured at fair value
—

 
—

 
124

 
—

 
124

 
—

Total LHFI

$85,007

 

$1,214

 

$73,448

 

$485

 

$158,455

 

$1,699



 
December 31, 2018
 
Commercial Loans
 
Consumer Loans
 
Total
(Dollars in millions)
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
 
Carrying
Value
 
Related
ALLL
LHFI evaluated for impairment:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated

$149

 

$13

 

$2,462

 

$154

 

$2,611

 

$167

Collectively evaluated
80,791

 
1,067

 
68,274

 
381

 
149,065

 
1,448

Total evaluated
80,940

 
1,080

 
70,736

 
535

 
151,676

 
1,615

LHFI measured at fair value
—

 
—

 
163

 
—

 
163

 
—

Total LHFI

$80,940

 

$1,080

 

$70,899

 

$535

 

$151,839

 

$1,615
v3.19.3
Goodwill and Other Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block] Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2018 are presented in the following table.
(Dollars in millions)
Consumer
 
Wholesale
 
Total
Balance, January 1, 2018

$4,262

 

$2,069

 

$6,331

Reallocation related to intersegment transfer of business banking clients
128

 
(128
)
 
—

Balance, September 30, 2018

$4,390

 

$1,941

 

$6,331
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block]
Changes in the carrying amount of other intangible assets are presented in the following table:
(Dollars in millions)
Residential MSRs - Fair Value
 
Commercial MSRs - Amortized Cost
 
Other
 
Total
Balance, January 1, 2019

$1,983

 

$66

 

$13

 

$2,062

Amortization 1
—

 
(8
)
 
(1
)
 
(9
)
Servicing rights originated
237

 
14

 
—

 
251

Changes in fair value:
 
 
 
 
 
 


Due to changes in inputs and assumptions 2
(439
)
 
—

 
—

 
(439
)
Other changes in fair value 3
(215
)
 
—

 
—

 
(215
)
Servicing rights sold
(2
)
 
—

 
—

 
(2
)
Balance, September 30, 2019

$1,564

 

$72

 

$12

 

$1,648

 
 
 
 
 
 
 
 
Balance, January 1, 2018

$1,710

 

$65

 

$16

 

$1,791

Amortization 1
—

 
(11
)
 
(2
)
 
(13
)
Servicing rights originated
250

 
10

 
—

 
260

Servicing rights purchased
89

 
—

 
—

 
89

Changes in fair value:
 
 
 
 
 
 


Due to changes in inputs and assumptions 2
198

 
—

 
—

 
198

Other changes in fair value 3
(183
)
 
—

 
—

 
(183
)
Servicing rights sold
(2
)
 
—

 
—

 
(2
)
Balance, September 30, 2018

$2,062

 

$64

 

$14

 

$2,140

1 Does not include expense associated with community development investments. See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
2 Primarily reflects changes in option adjusted spreads and prepayment speed assumptions due to changes in interest rates.
3 Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time.
Schedule of intangible assets [Table Text Block]
The gross carrying value and accumulated amortization of other intangible assets are presented in the following table:
 
September 30, 2019
 
December 31, 2018
(Dollars in millions)
Gross Carrying Value
 
Accumulated Amortization
 
Net Carrying Value
 
Gross Carrying Value
 
Accumulated Amortization
 
Net Carrying Value
Amortized other intangible assets 1:
 
 
 
 
 
 
 
 
 
 
 
Commercial MSRs

$109

 

($37
)
 

$72

 

$95

 

($29
)
 

$66

Other
6

 
(6
)
 
—

 
6

 
(5
)
 
1

Unamortized other intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Residential MSRs
1,564

 
—

 
1,564

 
1,983

 
—

 
1,983

Other
12

 
—

 
12

 
12

 
—

 
12

Total other intangible assets

$1,691

 

($43
)
 

$1,648

 

$2,096

 

($34
)
 

$2,062

1 Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized.
Schedule of fees from residential mortgage servicing rights [Table Text Block]
Income earned by the Company on its residential MSRs is derived primarily from contractually specified mortgage servicing fees and late fees, net of curtailment costs, and is presented in the following table.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Income from residential MSRs 1

$110

 

$108

 

$331

 

$322

1 Recognized in Mortgage-related income in the Consolidated Statements of Income.
Schedule of Principal Amount Outstanding of Residential Loans Serviced [Table Text Block]
The UPB of residential mortgage loans serviced for third parties is presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
UPB of loans underlying residential MSRs

$135,029

 

$140,801
Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs
A summary of the significant unobservable inputs used to estimate the fair value of the Company’s residential MSRs and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date are presented in the following table.
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Fair value of residential MSRs

$1,564

 

$1,983

Prepayment rate assumption (annual)
15
%
 
13
%
Decline in fair value from 10% adverse change

$95

 

$96

Decline in fair value from 20% adverse change
180

 
183

Option adjusted spread (annual)
3
%
 
2
%
Decline in fair value from 10% adverse change

$28

 

$44

Decline in fair value from 20% adverse change
56

 
86

Weighted-average life (in years)
4.4

 
5.5

Weighted-average coupon
4.0
%
 
4.0
%
Schedule of fees from commercial mortgage servicing rights [Table Text Block]
The following table presents the Company’s income earned from servicing commercial mortgages.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Income from commercial MSRs 1

$6

 

$5

 

$19

 

$20

Income from subservicing third party commercial mortgages 1
5

 
3

 
13

 
9

1 Recognized in Commercial real estate-related income in the Consolidated Statements of Income.
Schedule of Principal Amount Outstanding of Commercial Loans Serviced [Table Text Block]
The UPB of commercial mortgage loans serviced for third parties is presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
UPB of commercial mortgages subserviced for third parties

$32,725

 

$28,140

UPB of loans underlying commercial MSRs
7,391

 
6,399

Total UPB of commercial mortgages serviced for third parties

$40,116

 

$34,539
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
A summary of the significant unobservable inputs used to estimate the fair value of the Company’s commercial MSRs and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date, are presented in the following table.
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Fair value of commercial MSRs

$80

 

$77

Discount rate (annual)
12
%
 
12
%
Decline in fair value from 10% adverse change

$3

 

$3

Decline in fair value from 20% adverse change
6

 
6

Prepayment rate assumption (annual)
7
%
 
5
%
Decline in fair value from 10% adverse change

$1

 

$1

Decline in fair value from 20% adverse change
2

 
2

Weighted-average life (in years)
8.6

 
8.1

Float earnings rate (annual)
1.1
%
 
1.1
%
v3.19.3
Other Assets (Tables)
 9 Months Ended
Sep. 30, 2019
Other Assets [Abstract]  
Schedule of Other Assets [Table Text Block]
The components of other assets are presented in the following table:
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Equity securities 1:
 
 
 
Marketable equity securities:
 
 
 
Mutual fund investments

$66

 

$79

Other equity
10

 
16

Nonmarketable equity securities:
 
 
 
Federal Reserve Bank stock
403

 
403

FHLB stock
334

 
227

Other equity
84

 
68

Tax credit investments 2
1,998

 
1,722

Bank-owned life insurance
1,652

 
1,627

Lease assets:
 
 
 
Operating lease right-of-use assets 3
1,110

 
—

Underlying lessor assets
subject to operating leases, net 3
1,090

 
1,205

Build-to-suit lease assets
993

 
735

Accrued income
1,106

 
1,106

Accounts receivable
825

 
602

Pension assets, net
499

 
484

Prepaid expenses
285

 
231

OREO
52

 
54

Other
489

 
432

Total other assets

$10,996

 

$8,991

1 Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4, “Trading Assets and Liabilities and Derivative Instruments,” for more information.
2 See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
3 See Note 10, “Leases,” for additional information.
Schedule of Gains/(Losses) from Equity Securities [Table Text Block]
The following table summarizes net gains/(losses) on equity securities not classified as trading assets:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Net (losses)/gains on marketable equity securities 1

($6
)
 

($4
)
 

($3
)
 

$10

Net gains/(losses) on nonmarketable equity securities:
 
 
 
 
 
 
 
Remeasurement losses and impairment
—

 
—

 
—

 
—

Remeasurement gains 1
16

 
7

 
16

 
30

Less: Net realized gains on sale
—

 
—

 
—

 
—

Total net unrealized gains on non-trading equity securities

$10

 

$3

 

$13

 

$40


1 Recognized in Other noninterest income in the Company’s Consolidated Statements of Income.
v3.19.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Classification of Right of Use Assets [Table Text Block]
The Company's right-of-use assets, lease liabilities, and associated balance sheet classifications are presented in the following table:
(Dollars in millions)
Classification
 
September 30, 2019
Assets:
 
 
 
Operating lease right-of-use assets
Other assets
 

$1,110

Finance lease right-of-use assets
Premises, property, and equipment, net
 
24

Total right-of-use assets
 
 

$1,134

Liabilities:
 
 
 
Operating leases
Other liabilities
 

$1,189

Finance leases
Long-term debt
 
26

Total lease liabilities
 
 

$1,215
Lease, Cost [Table Text Block]


The components of total lease cost and other supplemental lease information are presented in the following tables:
(Dollars in millions)
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Components of total lease cost:
 
 
 
Operating lease cost

$49

 

$152

Finance lease cost:
 
 
 
Amortization of right-of-use assets
1

 
3

Variable lease cost
10

 
27

Less: Sublease income
(1
)
 
(4
)
Total lease cost, net

$59

 

$178
Lease, Supplemental Information Disclosures [Table Text Block]
(Dollars in millions)
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Supplemental lease information
 
 
 
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows from operating leases

$47

 

$144

Operating cash flows from finance leases
1

 
1

Financing cash flows from finance leases
3

 
5

 
 
 
 
Lease liabilities arising from obtaining right-of-use assets (subsequent to adoption):
 
 
 
Operating leases
7

 
30

Finance leases
—

 
11
Lessee, Lease, Description [Table Text Block]
Weighted average remaining lease terms and discount rates are presented in the following table:
(Dollars in millions)
September 30, 2019
Weighted-average remaining lease term (in years):
 
Operating leases
8.0

Finance leases
7.0

Weighted-average discount rate (annual):
 
Operating leases
3.3
%
Finance leases
6.6
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The following table presents a maturity analysis of the Company's operating and finance lease liabilities at September 30, 2019:
(Dollars in millions)
Operating Leases
 
Finance Leases
 
Total
Year 1

$185

 

$5

 

$190

Year 2
194

 
5

 
199

Year 3
179

 
5

 
184

Year 4
158

 
5

 
163

Year 5
140

 
3

 
143

Thereafter
518

 
11

 
529

Total lease payments
1,374

 
34

 
1,408

Less: Imputed interest
(185
)
 
(8
)
 
(193
)
Present value of lease liabilities

$1,189

 

$26

 

$1,215
Lessor, Income [Table Text Block]


The components of total lease income are presented in the following table:
(Dollars in millions)
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Interest income from sales-type and direct financing leases

$37

 

$111

Lease income relating to operating leases
52

 
157

Lease income relating to variable lease payments not included in the measurement of the lease receivable
1

 
3

Total lease income

$90

 

$271
Lessor, Net investment in Lease [Table Text Block]
Components of the Company's net investment in sales-type and direct financing leases are presented in the following table:
(Dollars in millions)
September 30, 2019
Carrying amount of lease receivables

$3,657

Unguaranteed residual assets
149

Net investment in sales-type and direct financing lease assets 1

$3,806
Lessor, Lease Maturity [Table Text Block]
The following table presents a maturity analysis of the Company's sales-type and direct financing lease receivables at September 30, 2019:
(Dollars in millions)
Sales-Type and Direct Financing Leases
Year 1

$876

Year 2
746

Year 3
585

Year 4
411

Year 5
328

Thereafter
1,256

Total lease receivables
4,202

Less: Reconciling items 1
(545
)
Present value of lease receivables

$3,657
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]
The following table presents a maturity analysis of the Company's operating lease payments to be received as of September 30, 2019:
(Dollars in millions)
Operating Leases
Year 1

$191

Year 2
155

Year 3
127

Year 4
95

Year 5
94

Thereafter
225

Total lease payments to be received

$887
Schedule of Property Subject to or Available for Operating Lease [Table Text Block]
Underlying lessor assets subject to operating leases at September 30, 2019 consisted of the following:
(Dollars in millions)
Useful life
(in years)
 
September 30, 2019
Underlying lessor assets subject to operating leases: 1
 
 
 
Real estate 2
15 - 20
 

$116

Equipment
2 - 30
 
1,539

Total underlying lessor assets subject to operating leases
 
 
1,655

Less: Accumulated depreciation
 
 
(565
)
Underlying lessor assets subject to operating leases, net 3
 
 

$1,090
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities (Tables)
 9 Months Ended
Sep. 30, 2019
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract]  
Community Development Tax Credits and Amortization [Table Text Block]
The following table presents tax credits and amortization associated with the Company’s investments in community development investments:
 
Tax Credits
 
Amortization
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Qualified affordable housing partnerships

$33

 

$28

 

$98

 

$87

 

$35

 

$29

 

$103

 

$92

Other community development investments
25

 
23

 
64

 
62

 
21

 
19

 
53

 
49
Quantitative Information about Transferred Financial Assets that have been Derecognized and Other Financial Assets Managed Together [Table Text Block]
The Company's total managed loans, including the LHFI portfolio and other transferred loans (securitized and unsecuritized), are presented in the following table by portfolio balance and delinquency status (accruing loans 90 days or more past due and all nonaccrual loans) at September 30, 2019 and December 31, 2018, as well as the related net charge-offs for the three and nine months ended September 30, 2019 and 2018.
 
Portfolio Balance
 
Past Due and Nonaccrual
 
Net Charge-offs
 
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
(Dollars in millions)
 
2019
 
2018
 
2019
 
2018
 
LHFI portfolio:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial

$85,007

 

$80,940

 

$366

 

$175

 

$30

 

$42

 

$74

 

$76

 
Consumer
73,448

 
70,899

 
1,627

 
2,003

 
82

 
46

 
220

 
164

 
Total LHFI portfolio
158,455

 
151,839

 
1,993

 
2,178

 
112

 
88

 
294

 
240

 
Managed securitized loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial 1
7,391

 
6,399

 
7

 
—

 
—

 
—

 
—

 
—

 
Consumer
134,515

 
139,809

 
114

 
146

 
—

2 
1

2 
1

2 
5

2 
Total managed securitized loans
141,906

 
146,208

 
121

 
146

 
—

 
1

 
1

 
5

 
Managed unsecuritized loans 3
514

 
1,134

 
61

 
152

 
—

 
—

 
—

 
—

 
Total managed loans

$300,875

 

$299,181

 

$2,175

 

$2,476

 

$112

 

$89

 

$295

 

$245

 

1 Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company.
2 Amounts associated with $212 million and $387 million of managed securitized loans at September 30, 2019 and December 31, 2018, respectively. Net charge-off data is not reported to the Company for the remaining balance of $134.3 billion and $139.4 billion of managed securitized loans at September 30, 2019 and December 31, 2018, respectively.
3 Comprised of unsecuritized loans the Company originated and sold to private investors with servicing rights retained. Net charge-offs on these loans are not presented in the table as the data is not reported to the Company by the private investors that own these related loans.
Tax Credit Variable Interest Entities [Table Text Block]
The following table presents information related to the Company's investments in tax credit VIEs that it does not consolidate:
 
Community Development Investments
 
Renewable Energy Partnerships
(Dollars in millions)
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
Carrying value of investments 1

$1,943

 

$1,636

 

$55

 

$86

Maximum exposure to loss related to investments 2
2,379

 
2,207

 
241

 
138

1 At September 30, 2019 and December 31, 2018, the carrying value of community development investments excludes $67 million and $68 million of investments in funds that do not qualify for tax credits, respectively.
2 At September 30, 2019 and December 31, 2018, the Company's maximum exposure to loss related to community development investments includes $470 million and $422 million of loans and $593 million and $639 million of unfunded equity commitments, respectively. At September 30, 2019 and December 31, 2018, the Company's maximum exposure to loss related to renewable energy partnerships includes $186 million and $52 million of unfunded equity commitments, respectively.
v3.19.3
Net Income Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Reconciliation of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders
Reconciliations of net income to net income available to common shareholders and average basic common shares outstanding to
average diluted common shares outstanding are presented in the following table.
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars and shares in millions, except per share data)
2019
 
2018
 
2019
 
2018
Net income

$623

 

$752

 

$1,891

 

$2,117

Less:
 
 
 
 
 
 
 
Preferred stock dividends
(26
)
 
(26
)
 
(77
)
 
(81
)
Net income available to common shareholders

$597

 

$726

 

$1,814

 

$2,036

 
 
 
 
 
 
 
 
Average common shares outstanding - basic
444.0

 
460.3

 
443.8

 
464.8

Add dilutive securities:
 
 
 
 
 
 
 
RSUs
2.6

 
3.0

 
2.4

 
2.8

Common stock warrants, options, and restricted stock
0.4

 
0.9

 
0.5

 
1.4

Average common shares outstanding - diluted
447.0

 
464.2

 
446.7

 
469.0

 
 
 
 
 
 
 
 
Net income per average common share - diluted

$1.34

 

$1.56

 

$4.06

 

$4.34

Net income per average common share - basic
1.35

 
1.58

 
4.09

 
4.38
v3.19.3
Employee Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2019
Employee Benefit Plans [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]
Stock-based compensation expense recognized in Employee compensation in the Consolidated Statements of Income consisted of the following:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
RSUs

$30

 

$21

 

$84

 

$82

Phantom stock units 1
3

 
10

 
28

 
36

Total stock-based compensation expense

$33

 

$31

 

$112

 

$118

 
 
 
 
 
 
 
 
Stock-based compensation tax benefit 2

$8

 

$8

 

$27

 

$28

1 Phantom stock units are settled in cash. During the three and nine months ended September 30, 2019, the Company paid less than $1 million and $44 million, respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2018, the Company paid $1 million and $76 million, respectively, related to these share-based liabilities.
2 Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income.
Schedule of Net Benefit Costs [Table Text Block]
Components of net periodic benefit related to the Company's pension and other postretirement benefits plans are presented in the following table and are recognized in Employee benefits in the Consolidated Statements of Income:
 
Pension Benefits 1
 
Other Postretirement Benefits
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Service cost

$1

 

$1

 

$4

 

$4

 

$—

 

$—

 

$—

 

$—

Interest cost
23

 
23

 
70

 
68

 
—

 
—

 
1

 
1

Expected return on plan assets
(36
)
 
(47
)
 
(110
)
 
(140
)
 
(1
)
 
(1
)
 
(4
)
 
(4
)
Amortization of prior service credit
—

 
—

 
—

 
—

 
(1
)
 
(2
)
 
(4
)
 
(5
)
Amortization of actuarial loss
6

 
6

 
18

 
17

 
—

 
—

 
—

 
—

Net periodic benefit

($6
)
 

($17
)
 

($18
)
 

($51
)
 

($2
)
 

($3
)
 

($7
)
 

($8
)
1 Administrative fees are recognized in service cost for each of the periods presented.
v3.19.3
Guarantees (Tables)
 9 Months Ended
Sep. 30, 2019
Guarantees [Abstract]  
Mortgage Loan Repurchase Losses [Table Text Block]
The following table summarizes the changes in the Company’s reserve for residential mortgage loan repurchases:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Balance, beginning of period

$23

 

$36

 

$26

 

$39

Repurchase (benefit)/provision
(1
)
 
1

 
(4
)
 
(2
)
Charge-offs, net of recoveries
—

 
(1
)
 
—

 
(1
)
Balance, end of period

$22

 

$36

 

$22

 

$36
Repurchased Mortgage Loan [Table Text Block]
The following table summarizes the carrying value of the Company’s outstanding repurchased residential mortgage loans:
(Dollars in millions)
September 30,
2019
 
December 31, 2018
Outstanding repurchased residential mortgage loans:
Performing LHFI

$135

 

$183

Nonperforming LHFI
9

 
16

Total carrying value of outstanding repurchased residential mortgages

$144

 

$199
v3.19.3
Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments [Table Text Block]
The following table presents the Company’s derivative positions at September 30, 2019 and December 31, 2018. The notional amounts in the table are presented on a gross basis at September 30, 2019 and December 31, 2018. Gross positive and gross negative fair value amounts associated with respective notional amounts are presented without consideration of any netting agreements, including collateral arrangements. Net fair value derivative amounts are adjusted on an aggregate basis, where applicable, to take into consideration the effects of legally enforceable master netting agreements, including any cash collateral received or paid, and are recognized in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Consolidated Balance Sheets.

 
September 30, 2019
 
December 31, 2018
 
 
 
Fair Value
 
 
 
Fair Value
(Dollars in millions)
Notional
Amounts
 
Asset Derivatives
 
Liability Derivatives
 
Notional
Amounts
 
Asset Derivatives
 
Liability Derivatives
Derivative instruments designated in hedging relationships
 
 
 
 
 
 
 
 
 
 
Cash flow hedges: 1
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI

$15,225

 

$—

 

$1

 

$10,500

 

$1

 

$2

Subtotal
15,225

 
—

 
1

 
10,500

 
1

 
2

Fair value hedges: 2
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts hedging fixed rate debt
12,155

 
—

 
—

 
9,550

 
1

 
1

Interest rate contracts hedging brokered time deposits
—

 
—

 
—

 
59

 
—

 
—

Subtotal
12,155

 
—

 
—

 
9,609

 
1

 
1

 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments 3
 
 
 
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
 
 
 
 
Residential MSRs 4
19,300

 
43

 
24

 
28,011

 
54

 
10

LHFS, IRLCs 5
6,688

 
10

 
12

 
4,891

 
18

 
38

LHFI
102

 
—

 
—

 
159

 
—

 
—

Trading activity 6
147,485

 
1,706

 
709

 
127,286

 
771

 
687

Foreign exchange rate contracts hedging loans and trading activity
11,954

 
185

 
182

 
9,824

 
129

 
119

Credit contracts hedging:
 
 
 
 
 
 
 
 
 
 
 
LHFI
918

 
—

 
28

 
830

 
—

 
14

Trading activity 7
5,136

 
38

 
34

 
4,058

 
97

 
95

Equity contracts hedging trading activity 6
36,181

 
1,774

 
1,939

 
34,471

 
1,447

 
1,644

Other contracts:
 
 
 
 
 
 
 
 
 
 
 
IRLCs and other 8
3,763

 
28

 
11

 
1,393

 
20

 
15

Commodity derivatives
2,491

 
94

 
91

 
2,020

 
93

 
91

Subtotal
234,018

 
3,878

 
3,030

 
212,943

 
2,629

 
2,713

 
 
 
 
 
 
 
 
 
 
 
 
Total derivative instruments

$261,398

 

$3,878

 

$3,031

 

$233,052

 

$2,631

 

$2,716

 
 
 
 
 
 
 
 
 
 
 
 
Total gross derivative instruments (before netting)
 
 

$3,878

 

$3,031

 
 
 

$2,631

 

$2,716

Less: Legally enforceable master netting agreements
 
 
(1,750
)
 
(1,750
)
 
 
 
(1,654
)
 
(1,654
)
Less: Cash collateral received/paid
 
 
(358
)
 
(1,007
)
 
 
 
(338
)
 
(652
)
Total derivative instruments (after netting)
 
 

$1,770

 

$274

 
 
 

$639

 

$410


1 
See “Cash Flow Hedging” in this Note for further discussion.
2 
See “Fair Value Hedging” in this Note for further discussion.
3 
See “Economic Hedging Instruments and Trading Activities” in this Note for further discussion.
4 
Notional amounts include $753 million and $921 million related to interest rate futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.
5 
Notional amounts include $53 million and $116 million related to interest rate futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.
6 
Notional amounts include $2.7 billion and $1.2 billion related to interest rate futures at September 30, 2019 and December 31, 2018, and $210 million and $136 million related to equity futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Notional amounts also include amounts related to interest rate swaps hedging fixed rate debt.
7 
Notional amounts include $9 million and $6 million from purchased credit risk participation agreements at September 30, 2019 and December 31, 2018, and $41 million and $33 million from written credit risk participation agreements at September 30, 2019 and December 31, 2018, respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
8 
Notional amounts include $41 million related to the Visa derivative liability at both September 30, 2019 and December 31, 2018. See Note 15, "Guarantees" for additional information.
Netting of Financial Instruments - Derivatives [Table Text Block]
The following tables present total gross derivative instrument assets and liabilities at September 30, 2019 and December 31, 2018, which are adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid when calculating the net amount reported in the Consolidated Balance Sheets. Also included in the tables are financial instrument collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and customer cash collateral held at third party custodians. These amounts are not offset on the Consolidated Balance Sheets but are shown as a reduction to total derivative instrument assets and liabilities to derive net derivative assets and liabilities. These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged.
(Dollars in millions)
Gross
Amount
 
Amount
Offset
 
Net Amount
Presented in
Consolidated
Balance Sheets
 
Held/Pledged
Financial
Instruments
 
Net
Amount
September 30, 2019
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$3,269

 

$1,973

 

$1,296

 

$15

 

$1,281

Derivatives not subject to master netting arrangement or similar arrangement
143

 
—

 
143

 
1

 
142

Exchange traded derivatives
466

 
135

 
331

 
—

 
331

Total derivative instrument assets

$3,878

 

$2,108

 

$1,770

1 

$16

 

$1,754

 
 
 
 
 
 
 
 
 
 
Derivative instrument liabilities:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,787

 

$2,622

 

$165

 

$18

 

$147

Derivatives not subject to master netting arrangement or similar arrangement
109

 
—

 
109

 
13

 
96

Exchange traded derivatives
135

 
135

 
—

 
—

 
—

Total derivative instrument liabilities

$3,031

 

$2,757

 

$274

2 

$31

 

$243

 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,425

 

$1,873

 

$552

 

$12

 

$540

Derivatives not subject to master netting arrangement or similar arrangement
20

 
—

 
20

 
—

 
20

Exchange traded derivatives
186

 
119

 
67

 
—

 
67

Total derivative instrument assets

$2,631

 

$1,992

 

$639

1 

$12

 

$627

 
 
 
 
 
 
 
 
 
 
Derivative instrument liabilities:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,521

 

$2,187

 

$334

 

$14

 

$320

Derivatives not subject to master netting arrangement or similar arrangement
76

 
—

 
76

 
—

 
76

Exchange traded derivatives
119

 
119

 
—

 
—

 
—

Total derivative instrument liabilities

$2,716

 

$2,306

 

$410

2 

$14

 

$396

1 At September 30, 2019, $1.8 billion, net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $639 million, net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
2 At September 30, 2019, $274 million, net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $410 million, net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table presents gains and losses on derivatives in fair value and cash flow hedging relationships by contract type and by income statement line item. The table does not disclose the financial impact of the activities that these derivative instruments are intended to hedge.
 
Net Interest Income
 
 
(Dollars in millions)
Interest and fees on LHFI
 
Interest on Long-term Debt
 
Total
Three Months Ended September 30, 2019
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$1,708

 

($150
)
 

$1,558

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($1
)
 

($1
)
Recognized on derivatives
—

 
43

 
43

Recognized on hedged items
—

 
(47
)
1 
(47
)
Net expense recognized on fair value hedges

$—

 

($5
)
 

($5
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($46
)
2 

$—

 

($46
)
Net expense recognized on cash flow hedges

($46
)
 

$—

 

($46
)
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$5,125

 

($425
)
 

$4,700

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($10
)
 

($10
)
Recognized on derivatives
—

 
267

 
267

Recognized on hedged items
—

 
(282
)
1 
(282
)
Net expense recognized on fair value hedges

$—

 

($25
)
 

($25
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($129
)
2 

$—

 

($129
)
Net expense recognized on cash flow hedges

($129
)
 

$—

 

($129
)
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$1,549

 

($95
)
 

$1,454

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($2
)
 

($2
)
Recognized on derivatives
—

 
(33
)
 
(33
)
Recognized on hedged items
—

 
31

1 
31

Net expense recognized on fair value hedges

$—

 

($4
)
 

($4
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($22
)
2 

$—

 

($22
)
Net expense recognized on cash flow hedges

($22
)
 

$—

 

($22
)
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$4,424

 

($252
)
 

$4,172

 
 
 
 
 
 
(Loss)/gain on fair value hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amounts related to interest settlements on derivatives

$—

 

($1
)
 

($1
)
Recognized on derivatives
—

 
(130
)
 
(130
)
Recognized on hedged items
—

 
124

1 
124

Net expense recognized on fair value hedges

$—

 

($7
)
 

($7
)
 
 
 
 
 
 
Loss on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
Amount of pre-tax loss reclassified from AOCI into income

($39
)
2 

$—

 

($39
)
Net expense recognized on cash flow hedges

($39
)
 

$—

 

($39
)
1 Includes amortization from de-designated fair value hedging relationships.
2 These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.
Hedged Items in Fair Value Hedging Relationships [Table Text Block]
The following table presents the carrying amount of hedged liabilities on the Consolidated Balance Sheets in fair value hedging relationships and the associated cumulative basis adjustment related to the application of hedge accounting:
 
 
 
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Liabilities
(Dollars in millions)
Carrying Amount of Hedged Liabilities
 
Hedged Items Currently Designated
 
Hedged Items No Longer Designated
September 30, 2019
 
 
 
 
 
Long-term debt

$11,295

 

$180

 

($28
)
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
Long-term debt

$8,411

 

($10
)
 

($120
)
Brokered time deposits
29

 
—

 
—
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Table Text Block]

The impacts of derivative instruments used for economic hedging or trading purposes on the Consolidated Statements of Income are presented in the following table:
 
Classification of Gain/(Loss) Recognized in Income on Derivatives
 
Amount of Gain/(Loss) Recognized in Income on Derivatives During the Three Months Ended September 30
 
Amount of Gain/(Loss) Recognized in Income on Derivatives During the Nine Months Ended September 30
(Dollars in millions)
 
2019
 
2018
 
2019
 
2018
Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
 
 
Residential MSRs
Mortgage-related income
 

$166

 

($54
)
 

$436

 

($210
)
LHFS, IRLCs
Mortgage-related income
 
(31
)
 
10

 
(76
)
 
57

LHFI
Other noninterest income
 
(1
)
 
1

 
(4
)
 
3

Trading activity
Trading income
 
1

 
18

 
22

 
48

Foreign exchange rate contracts hedging loans and trading activity
Trading income
 
39

 
9

 
46

 
49

Credit contracts hedging:
 
 
 
 
 
 
 
 
 
LHFI
Other noninterest income
 
(1
)
 
(5
)
 
(16
)
 
(5
)
Trading activity
Trading income
 
7

 
5

 
20

 
16

Equity contracts hedging trading activity
Trading income
 
6

 
6

 
34

 
8

Other contracts:
 
 
 
 
 
 
 
 
 
IRLCs and other
Mortgage-related income;
Commercial real estate-related income
 
58

 
19

 
144

 
39

Commodity derivatives
Trading income
 
1

 
—

 
2

 
—

Total
 
 

$245

 

$9

 

$608

 

$5
Credit Derivative Instruments - TRS Contracts [Table Text Block] The following table presents information related to the Company's outstanding TRS contracts.
(Dollars in millions)
September 30, 2019
 
December 31, 2018
Outstanding TRS notional balances

$2,543

 

$2,009

TRS assets at fair value
38

 
97

TRS liabilities at fair value
34

 
94

Cash collateral held for TRS contracts
635

 
601
v3.19.3
Fair Value Election and Measurement (Tables)
 9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected. There have been no significant changes in the Company’s valuation techniques or inputs used
in estimating fair value for assets and liabilities measured on a recurring basis from those disclosed in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K.
 
September 30, 2019
 
Fair Value Measurements
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
 
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$212

 

$—

 

$—

 

$—

 

$212

Federal agency securities
—

 
319

 
—

 
—

 
319

U.S. states and political subdivisions
—

 
43

 
—

 
—

 
43

MBS - agency residential
—

 
1,004

 
—

 
—

 
1,004

MBS - agency commercial
—

 
51

 
—

 
—

 
51

ABS
—

 
7

 
—

 
—

 
7

Corporate and other debt securities
—

 
628

 
—

 
—

 
628

CP
—

 
122

 
—

 
—

 
122

Equity securities
86

 
—

 
—

 
—

 
86

Derivative instruments
466

 
3,385

 
27

 
(2,108
)
 
1,770

Trading loans 2
—

 
2,862

 
—

 
—

 
2,862

Total trading assets and derivative instruments
764

 
8,421

 
27

 
(2,108
)
 
7,104

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,018

 
—

 
—

 
—

 
4,018

Federal agency securities
—

 
124

 
—

 
—

 
124

U.S. states and political subdivisions
—

 
572

 
—

 
—

 
572

MBS - agency residential
—

 
22,585

 
—

 
—

 
22,585

MBS - agency commercial
—

 
2,983

 
—

 
—

 
2,983

MBS - non-agency commercial
—

 
1,064

 
—

 
—

 
1,064

Corporate and other debt securities
—

 
12

 
—

 
—

 
12

Total securities AFS
4,018

 
27,340

 
—

 
—

 
31,358


 
 
 
 
 
 
 
 
 
LHFS
—

 
1,488

 
—

 
—

 
1,488

LHFI
—

 
—

 
124

 
—

 
124

Residential MSRs
—

 
—

 
1,564

 
—

 
1,564

Other assets
76

 
—

 
—

 
—

 
76

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
538

 
—

 
—

 
—

 
538

Corporate and other debt securities
—

 
539

 
—

 
—

 
539

Equity securities
20

 
—

 
—

 
—

 
20

Derivative instruments
135

 
2,886

 
10

 
(2,757
)
 
274

Trading loans
—

 
9

 
—

 
—

 
9

Total trading liabilities and derivative instruments
693

 
3,434

 
10

 
(2,757
)
 
1,380

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
552

 
—

 
—

 
552

Long-term debt
—

 
302

 
—

 
—

 
302


1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16, “Derivative Financial Instruments,” for additional information.
2 At September 30, 2019, includes $2.5 billion of loans related to the Company’s TRS business, $70 million of loans related to the Company’s loan sales and trading business held in inventory, and $227 million of loans backed by the SBA held in inventory.


 
December 31, 2018
 
Fair Value Measurements
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
 
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$262

 

$—

 

$—

 

$—

 

$262

Federal agency securities
—

 
188

 
—

 
—

 
188

U.S. states and political subdivisions
—

 
54

 
—

 
—

 
54

MBS - agency residential
—

 
860

 
—

 
—

 
860

Corporate and other debt securities
—

 
700

 
—

 
—

 
700

CP
—

 
190

 
—

 
—

 
190

Equity securities
73

 
—

 
—

 
—

 
73

Derivative instruments
186

 
2,425

 
20

 
(1,992
)
 
639

Trading loans 2
—

 
2,540

 
—

 
—

 
2,540

Total trading assets and derivative instruments
521

 
6,957

 
20

 
(1,992
)
 
5,506

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,211

 
—

 
—

 
—

 
4,211

Federal agency securities
—

 
221

 
—

 
—

 
221

U.S. states and political subdivisions
—

 
589

 
—

 
—

 
589

MBS - agency residential
—

 
22,864

 
—

 
—

 
22,864

MBS - agency commercial
—

 
2,627

 
—

 
—

 
2,627

MBS - non-agency commercial
—

 
916

 
—

 
—

 
916

Corporate and other debt securities
—

 
14

 
—

 
—

 
14

Total securities AFS
4,211

 
27,231

 
—

 
—

 
31,442

 
 
 
 
 
 
 
 
 
 
LHFS
—

 
1,178

 
—

 
—

 
1,178

LHFI
—

 
—

 
163

 
—

 
163

Residential MSRs
—

 
—

 
1,983

 
—

 
1,983

Other assets
95

 
—

 
—

 
—

 
95

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
801

 
—

 
—

 
—

 
801

MBS - agency
—

 
3

 
—

 
—

 
3

Corporate and other debt securities
—

 
385

 
—

 
—

 
385

Equity securities
5

 
—

 
—

 
—

 
5

Derivative instruments
119

 
2,590

 
7

 
(2,306
)
 
410

Total trading liabilities and derivative instruments
925

 
2,978

 
7

 
(2,306
)
 
1,604

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
403

 
—

 
—

 
403

Long-term debt
—

 
289

 
—

 
—

 
289


1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16, “Derivative Financial Instruments,” for additional information.
2 At December 31, 2018, includes $2.0 billion of loans related to the Company’s TRS business, $137 million of loans related to the Company’s loan sales and trading business held in inventory, and $366 million of loans backed by the SBA loans held in inventory, measured at fair value.
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance

The following tables present the difference between fair value and the aggregate UPB for which the FVO has been elected for certain trading loans, LHFS, LHFI, brokered time deposits, and long-term debt instruments.
(Dollars in millions)
Fair Value at
September 30, 2019
 
Aggregate UPB at
September 30, 2019
 
Fair Value
Over/(Under)
Unpaid Principal
Assets:
 
 
 
 
 
Trading loans

$2,862

 

$2,779

 

$83

LHFS:
 
 
 
 
 
Accruing
1,488

 
1,446

 
42

LHFI:
 
 
 
 
 
Accruing
121

 
119

 
2

Nonaccrual
3

 
4

 
(1
)

Liabilities:
 
 
 
 
 
Trading loans
9

 
9

 
—

Brokered time deposits
552

 
539

 
13

Long-term debt
302

 
290

 
12

 
 
 
 
 
 
(Dollars in millions)
Fair Value at
December 31, 2018
 
Aggregate UPB at
December 31, 2018
 

Fair Value
Over/(Under)
Unpaid Principal
Assets:
 
 
 
 
 
Trading loans

$2,540

 

$2,526

 

$14

LHFS:
 
 
 
 
 
Accruing
1,178

 
1,128

 
50

LHFI:
 
 
 
 
 
Accruing
158

 
163

 
(5
)
Nonaccrual
5

 
6

 
(1
)

Liabilities:
 
 
 
 
 
Brokered time deposits
403

 
403

 
—

Long-term debt
289

 
286

 
3
Fair Value Gains/(Losses) for Items Measured at Fair Value Option [Table Text Block]

 
Fair Value (Loss)/Gain for the Three Months Ended
September 30, 2019 for Items Measured at Fair Value
Pursuant to Election of the FVO
 
Fair Value Gain/(Loss) for the Nine Months Ended
September 30, 2019 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading Income
 
  Mortgage 1
Related
Income
 
Other Noninterest Income
 
  Total 2
Changes in Fair Values Included in Earnings
 
Trading
Income
 
  Mortgage 1
Related
Income
 
Other
Noninterest
Income
 
  Total 2
Changes in Fair Values Included in Earnings
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading loans 3

($1
)
 

$—

 

$—

 

($1
)
 

$18

 

$—

 

$—

 

$18

LHFS 4
—

 
40

 
—

 
40

 
—

 
80

 
—

 
80

LHFI
—

 
—

 
2

 
2

 
—

 
—

 
5

 
5

Residential MSRs
—

 
(250
)
 
—

 
(250
)
 
—

 
(650
)
 
—

 
(650
)
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brokered time deposits
(3
)
 
—

 
—

 
(3
)
 
(24
)
 
—

 
—

 
(24
)
Long-term debt
(2
)
 
—

 
—

 
(2
)
 
(15
)
 
—

 
—

 
(15
)
1 Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2019, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
2 Changes in fair value for the three and nine months ended September 30, 2019 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.
3 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2019.
4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2019.

 
Fair Value Gain/(Loss) for the Three Months Ended
September 30, 2018 for Items Measured at Fair Value
Pursuant to Election of the FVO
 
Fair Value Gain/(Loss) for the Nine Months Ended
September 30, 2018 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading Income
 
  Mortgage 1
Related
Income
 
Other Noninterest Income
 
  Total 2
Changes in Fair Values Included in Earnings
 
Trading
Income
 
  Mortgage 1
Related
Income
 
Other
Noninterest
Income
 
  Total 2
Changes in Fair Values Included in Earnings
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading loans 3

$3

 

$—

 

$—

 

$3

 

$10

 

$—

 

$—

 

$10

LHFS 4
—

 
5

 
—

 
5

 
—

 
(3
)
 
—

 
(3
)
LHFI
—

 
—

 
(1
)
 
(1
)
 
—

 
—

 
(4
)
 
(4
)
Residential MSRs
—

 
(8
)
 
—

 
(8
)
 
—

 
22

 
—

 
22

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brokered time deposits
(4
)
 
—

 
—

 
(4
)
 
6

 
—

 
—

 
6

Long-term debt
1

 
—

 
—

 
1

 
6

 
—

 
—

 
6

1 Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2018, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
2 Changes in fair value for the three and nine months ended September 30, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.
3 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2018.
4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2018.
Fair Value Level 3 Significant Unobservable Input Assumptions [Table Text Block]

The valuation technique and range, including weighted average, of the unobservable inputs associated with the Company’s level 3 assets and liabilities are as follows:
 
 Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)
Fair value
September 30, 2019
 
Valuation Technique
 
Unobservable Input
 
Range
 (Weighted Average) 1
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 2

$17

 
Internal model
 
Pull through rate
 
2-100% (83%)
 
MSR value
 
21-155 bps (102 bps)
LHFI
121

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
62-250 bps (172 bps)
Conditional prepayment rate
7-31 CPR (16 CPR)
Conditional default rate
0-2 CDR (0.5 CDR)
3

Collateral based pricing
Appraised value
NM 3
Residential MSRs
1,564

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-31 CPR (15 CPR)
 
Option adjusted spread
 
1-29% (3%)

1 Unobservable inputs were weighted by the relative fair value of the financial instruments.
2 Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K, for a discussion of valuation assumptions related to the Visa derivative liability.
3 Not meaningful.

 
 Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)
Fair value
December 31, 2018
 
Valuation Technique
 
Unobservable Input
 
Range
(Weighted Average) 1
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 2

$13

 
Internal model
 
Pull through rate
 
41-100% (81%)
 
MSR value
 
11-165 bps (108 bps)
LHFI
158

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
0-250 bps (164 bps)
 
Conditional prepayment rate
 
7-22 CPR (12 CPR)
 
Conditional default rate
 
0-1 CDR (0.6 CDR)
5

 
Collateral based pricing
 
Appraised value
 
NM 3
Residential MSRs
1,983

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-30 CPR (13 CPR)
 
Option adjusted spread
 
0-116% (2%)

1 Unobservable inputs were weighted by the relative fair value of the financial instruments.
2 Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K, for a discussion of valuation assumptions related to the Visa derivative liability.
3 Not meaningful.
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs
The following tables present a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (other than residential MSRs which are disclosed in Note 8, “Goodwill and Other Intangible Assets”). Transfers into and out
of the fair value hierarchy levels are assumed to occur at the end of the period in which the transfer occurred. None of the transfers into or out of level 3 have been the result of using alternative valuation approaches to estimate fair values.
 
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
Balance
July 1,
2019
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2019
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$24

 

$60

1 

$—

 

$—

 

$—

 

($3
)
 

($64
)
2 

$—

 

$—

 

$17

LHFI
127

 
2

3 
—

 
—

 
—

 
(6
)
 
—

 
1

 
—

 
124

(Dollars in millions)
Beginning
Balance
January 1,
2019
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2019
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$13

 

$147

1 

$—

 

$—

 

$—

 

($5
)
 

($138
)
2 

$—

 

$—

 

$17

LHFI
163

 
5

3 
—

 
—

 
—

 
(21
)
 
—

 
2

 
(25
)
 
124


1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage-related income, amount related to commercial IRLCs is recognized in Commercial real estate-related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $23 million in earnings during both the three and nine months ended September 30, 2019, related to changes in unrealized gains on net derivative instruments still held at September 30, 2019.
2 During the three and nine months ended September 30, 2019, the Company transferred $64 million and $138 million, respectively, of net IRLC assets out of level 3 as the associated loans were closed.
3 Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $3 million and $5 million in earnings during the three and nine months ended September 30, 2019, respectively, related to changes in unrealized gains on LHFI still held at September 30, 2019.

 
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
Balance
July 1,
2018
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2018
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$3

 

$18

1 

$—

 

$—

 

$—

 

$8

 

($26
)
2 

$—

 

$—

 

$3

LHFI
177

 
—

3 
—

 
—

 
—

 
(9
)
 
—

 
—

 
—

 
168

(Dollars in millions)
Beginning
Balance
January 1,
2018
 
Included
in
Earnings
 
OCI
 
Purchases
 
Sales
 
Settlements
 
Transfers to/from Other Balance Sheet Line Items
 
Transfers
into
Level 3
 
Transfers
out of
Level 3
 
Fair Value
September 30,
2018
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$—

 

$36

1 

$—

 

$—

 

$—

 

$10

 

($43
)
2 

$—

 

$—

 

$3

Securities AFS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MBS - non-agency residential
59

 
—

 
—

 
—

 
—

 
(2
)
 
—

 
—

 
(57
)
 
—

ABS
8

 
—

 
—

 
—

 
—

 
(1
)
 
—

 
—

 
(7
)
 
—

Corporate and other debt securities
5

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(5
)
 
—

Total securities AFS
72

 
—


—

 
—

 
—

 
(3
)
 
—

 
—

 
(69
)
 
—

LHFI
196

 
(3
)
3 
—

 
—

 
—

 
(26
)
 
—

 
1

 
—

 
168


1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage-related income, amount related to commercial IRLCs is recognized in Commercial real estate-related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $10 million and $7 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2018.
2 During the three and nine months ended September 30, 2018, the Company transferred $26 million and $43 million, respectively, of net IRLC assets out of level 3 as the associated loans were closed.  
3 Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $4 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized losses on LHFI still held at September 30, 2018.
Change in Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis
The following tables present gains and losses recognized on assets still held at period end, and measured at fair value on a non-recurring basis, for the three and nine months ended September 30, 2019 and the year ended December 31, 2018. Adjustments to fair value generally result from the application
of LOCOM, or the measurement alternative, or through write-downs of individual assets. The tables do not reflect changes in fair value attributable to economic hedges the Company may have used to mitigate interest rate risk associated with LHFS.
 
 
 
Fair Value Measurements
 
(Losses)/Gains for the
Three Months Ended September 30, 2019
 
(Losses)/Gains for the
Nine Months Ended
September 30, 2019
(Dollars in millions)
September 30, 2019
 
Level 1
 
Level 2
 
Level 3
 
 
LHFS

$311

 

$—

 

$311

 

$—

 

($14
)
 

($14
)
LHFI
128

 
—

 
—

 
128

 
—

 
—

OREO
22

 
—

 
—

 
22

 
(1
)
 
(3
)
Other assets
74

 
—

 
61

 
13

 
16

 
14

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements
 
(Losses)/Gains for the
Year Ended
December 31, 2018
 
 
(Dollars in millions)
December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
 

LHFS

$47

 

$—

 

$47

 

$—

 

($1
)
 
 
LHFI
63

 
—

 
—

 
63

 
—

 
 
OREO
19

 
—

 
—

 
19

 
(4
)
 
 
Other assets
67

 
—

 
47

 
20

 
24

 
 
Carrying Amounts and Fair Values of the Company's Financial Instruments
The carrying amounts and fair values of the Company’s financial instruments are as follows:
 
 
 
September 30, 2019
 
Fair Value Measurements
(Dollars in millions)
Measurement Category
 
Carrying Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
Amortized cost
 

$9,184

 

$9,184

 

$9,184

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
7,104

 
7,104

 
764

 
6,313

 
27

Securities AFS
Fair value
 
31,358

 
31,358

 
4,018

 
27,340

 
—

LHFS
Amortized cost
 
518

 
525

 
—

 
448

 
77

Fair value
 
1,488

 
1,488

 
—

 
1,488

 
—

LHFI, net
Amortized cost
 
156,632

 
156,222

 
—

 
—

 
156,222

Fair value
 
124

 
124

 
—

 
—

 
124

Other 1
Amortized cost
 
737

 
737

 
—

 
—

 
737

Fair value
 
76

 
76

 
76

 
—

 
—

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Consumer and other time deposits
Amortized cost
 
16,727

 
16,637

 
—

 
16,637

 
—

Brokered time deposits
Amortized cost
 
993

 
964

 
—

 
964

 
—

Fair value
 
552

 
552

 
—

 
552

 
—

Short-term borrowings
Amortized cost
 
7,144

 
7,144

 
—

 
7,144

 
—

Long-term debt
Amortized cost
 
20,067

 
20,257

 
—

 
18,490

 
1,767

Fair value
 
302

 
302

 
—

 
302

 
—

Trading liabilities and derivative instruments
Fair value
 
1,380

 
1,380

 
693

 
677

 
10



 
 
 
December 31, 2018
 
Fair Value Measurements
(Dollars in millions)
Measurement Category
 
Carrying Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
Amortized cost
 

$7,495

 

$7,495

 

$7,495

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
5,506

 
5,506

 
521

 
4,965

 
20

Securities AFS
Fair value
 
31,442

 
31,442

 
4,211

 
27,231

 
—

LHFS
Amortized cost
 
290

 
291

 
—

 
261

 
30

Fair value
 
1,178

 
1,178

 
—

 
1,178

 
—

LHFI, net
Amortized cost
 
150,061

 
148,167

 
—

 
—

 
148,167

Fair value
 
163

 
163

 
—

 
—

 
163

Other 1
Amortized cost
 
630

 
630

 
—

 
—

 
630

Fair value
 
95

 
95

 
95

 
—

 
—

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Consumer and other time deposits
Amortized cost
 
15,355

 
15,106

 
—

 
15,106

 
—

Brokered time deposits
Amortized cost
 
642

 
615

 
—

 
615

 
—

Fair value
 
403

 
403

 
—

 
403

 
—

Short-term borrowings
Amortized cost
 
8,772

 
8,772

 
—

 
8,772

 
—

Long-term debt
Amortized cost
 
14,783

 
14,729

 
—

 
13,024

 
1,705

Fair value
 
289

 
289

 
—

 
289

 
—

Trading liabilities and derivative instruments
Fair value
 
1,604

 
1,604

 
925

 
672

 
7

1 Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values.
v3.19.3
Business Segment Reporting Business Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Business Segment Reporting [Table Text Block]

 
Three Months Ended September 30, 2019
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$80,414

 

$77,107

 

$91

 

$—

 

$157,612

Average consumer and commercial deposits
114,132

 
45,817

 
2,779

 
(195
)
 
162,533

Average total assets
90,329

 
93,584

 
38,557

 
2,277

 
224,747

Average total liabilities
114,989

 
52,471

 
31,126

 
(65
)
 
198,521

Average total equity
—

 
—

 
—

 
26,226

 
26,226

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$1,068

 

$529

 

($79
)
 

($8
)
 

$1,510

FTE adjustment
—

 
21

 
—

 
1

 
22

Net interest income-FTE 1
1,068

 
550

 
(79
)
 
(7
)
 
1,532

Provision for credit losses 2
77

 
56

 
—

 
(1
)
 
132

Net interest income after provision for credit losses-FTE
991

 
494

 
(79
)
 
(6
)
 
1,400

Total noninterest income
479

 
368

 
34

 
(38
)
 
843

Total noninterest expense
1,025

 
457

 
(5
)
 
(3
)
 
1,474

Income before provision for income taxes-FTE
445

 
405

 
(40
)
 
(41
)
 
769

Provision for income taxes-FTE 3
102

 
96

 
(10
)
 
(44
)
 
144

Net income including income attributable to noncontrolling interest
343

 
309

 
(30
)
 
3

 
625

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$343

 

$309

 

($32
)
 

$3

 

$623


1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.

 
Three Months Ended September 30, 2018
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$75,234

 

$70,669

 

$93

 

($1
)
 

$145,995

Average consumer and commercial deposits
111,950

 
44,702

 
3,264

 
(568
)
 
159,348

Average total assets
85,933

 
84,909

 
35,647

 
906

 
207,395

Average total liabilities
112,898

 
51,215

 
19,531

 
(524
)
 
183,120

Average total equity
—

 
—

 
—

 
24,275

 
24,275

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$1,056

 

$539

 

($46
)
 

($37
)
 

$1,512

FTE adjustment
—

 
22

 
1

 
(1
)
 
22

Net interest income-FTE 1
1,056

 
561

 
(45
)
 
(38
)
 
1,534

Provision for credit losses 2
36

 
24

 
—

 
1

 
61

Net interest income after provision for credit losses-FTE
1,020

 
537

 
(45
)
 
(39
)
 
1,473

Total noninterest income
444

 
368

 
16

 
(46
)
 
782

Total noninterest expense
991

 
432

 
(35
)
 
(4
)
 
1,384

Income before provision for income taxes-FTE
473

 
473

 
6

 
(81
)
 
871

Provision for income taxes-FTE 3
108

 
112

 
(51
)
 
(52
)
 
117

Net income including income attributable to noncontrolling interest
365

 
361

 
57

 
(29
)
 
754

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$365

 

$361

 

$55

 

($29
)
 

$752


1 
Presented on a matched maturity funds transfer price basis for the segments.
2 
Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 
Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.


 
Nine Months Ended September 30, 2019
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$79,473

 

$76,481

 

$90

 

$—

 

$156,044

Average consumer and commercial deposits
113,067

 
44,777

 
3,224

 
(289
)
 
160,779

Average total assets
89,026

 
92,046

 
38,189

 
1,758

 
221,019

Average total liabilities
113,979

 
51,441

 
30,465

 
(173
)
 
195,712

Average total equity
—

 
—

 
—

 
25,307

 
25,307

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$3,222

 

$1,607

 

($222
)
 

($18
)
 

$4,589

FTE adjustment
—

 
65

 
1

 
—

 
66

Net interest income-FTE 1
3,222

 
1,672

 
(221
)
 
(18
)
 
4,655

Provision for credit losses 2
204

 
208

 
—

 
—

 
412

Net interest income after provision for credit losses-FTE
3,018

 
1,464

 
(221
)
 
(18
)
 
4,243

Total noninterest income
1,415

 
1,137

 
230

 
(129
)
 
2,653

Total noninterest expense
3,029

 
1,382

 
207

 
(16
)
 
4,602

Income before provision for income taxes-FTE
1,404

 
1,219

 
(198
)
 
(131
)
 
2,294

Provision for income taxes-FTE 3
321

 
289

 
(81
)
 
(133
)
 
396

Net income including income attributable to noncontrolling interest
1,083

 
930

 
(117
)
 
2

 
1,898

Less: Net income attributable to noncontrolling interest
—

 
—

 
7

 
—

 
7

Net income

$1,083

 

$930

 

($124
)
 

$2

 

$1,891

1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.

 
Nine Months Ended September 30, 2018
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$74,907

 

$69,375

 

$89

 

($3
)
 

$144,368

Average consumer and commercial deposits
111,008

 
45,247

 
3,234

 
(330
)
 
159,159

Average total assets
84,909

 
83,193

 
35,585

 
1,683

 
205,370

Average total liabilities
111,909

 
51,375

 
18,065

 
(303
)
 
181,046

Average total equity
—

 
—

 
—

 
24,324

 
24,324

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$3,087

 

$1,580

 

($111
)
 

($116
)
 

$4,440

FTE adjustment
—

 
63

 
2

 
—

 
65

Net interest income-FTE 1
3,087

 
1,643

 
(109
)
 
(116
)
 
4,505

Provision for credit losses 2
102

 
19

 
—

 
—

 
121

Net interest income after provision for credit losses-FTE
2,985

 
1,624

 
(109
)
 
(116
)
 
4,384

Total noninterest income
1,347

 
1,096

 
81

 
(116
)
 
2,408

Total noninterest expense
2,984

 
1,307

 
(83
)
 
(17
)
 
4,191

Income before provision for income taxes-FTE
1,348

 
1,413

 
55

 
(215
)
 
2,601

Provision for income taxes-FTE 3
305

 
334

 
(23
)
 
(139
)
 
477

Net income including income attributable to noncontrolling interest
1,043

 
1,079

 
78

 
(76
)
 
2,124

Less: Net income attributable to noncontrolling interest
—

 
—

 
7

 
—

 
7

Net income

$1,043

 

$1,079

 

$71

 

($76
)
 

$2,117

1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
v3.19.3
Accumulated Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2019
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Changes in the components of AOCI, net of tax, are presented in the following table:
(Dollars in millions)
Securities AFS
 
Derivative Instruments
 
Brokered Time Deposits
 
Long-Term Debt
 
Employee Benefit Plans
 
Total
Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

$437

 

($148
)
 

$—

 

($1
)
 

($689
)
 

($401
)
Net unrealized gains arising during the period
169

 
47

 
—

 
—

 
—

 
216

Amounts reclassified to net income
(3
)
 
35

 
—

 
—

 
4

 
36

Other comprehensive income, net of tax
166

 
82

 
—

 
—

 
4

 
252

Balance, end of period

$603

 

($66
)
 

$—

 

($1
)
 

($685
)
 

($149
)
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($519
)
 

($459
)
 

($1
)
 

($2
)
 

($698
)
 

($1,679
)
Net unrealized losses arising during the period
(178
)
 
(37
)
 
—

 
—

 
—

 
(215
)
Amounts reclassified to net income
—

 
17

 
—

 
—

 
3

 
20

Other comprehensive (loss)/income, net of tax
(178
)
 
(20
)
 
—

 
—

 
3

 
(195
)
Balance, end of period

($697
)
 

($479
)
 

($1
)
 

($2
)
 

($695
)
 

($1,874
)
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($357
)
 

($368
)
 

$1

 

($1
)
 

($695
)
 

($1,420
)
Net unrealized gains/(losses) arising during the period
931

 
203

 
(1
)
 
—

 
—

 
1,133

Amounts reclassified to net income
29

 
99

 
—

 
—

 
10

 
138

Other comprehensive income/(loss), net of tax
960

 
302

 
(1
)
 
—

 
10

 
1,271

Balance, end of period

$603

 

($66
)
 

$—

 

($1
)
 

($685
)
 

($149
)
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($1
)
 

($244
)
 

($1
)
 

($4
)
 

($570
)


($820
)
Cumulative effect adjustment related to ASU adoption 1
30

 
(56
)
 
—

 
(1
)
 
(127
)
 
(154
)
Net unrealized (losses)/gains arising during the period
(725
)
 
(209
)
 
—

 
3

 
(7
)
 
(938
)
Amounts reclassified to net income
(1
)
 
30

 
—

 
—

 
9

 
38

Other comprehensive (loss)/income, net of tax
(726
)
 
(179
)
 
—

 
3

 
2

 
(900
)
Balance, end of period

($697
)
 

($479
)
 

($1
)
 

($2
)
 

($695
)
 

($1,874
)

1 
Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information.
Schedule of Reclassifications from AOCI [Table Text Block]
Reclassifications from AOCI to Net income, and the related tax effects, are presented in the following table:
(Dollars in millions)
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
Impacted Line Item in the Consolidated Statements of Income
Details About AOCI Components
 
2019
 
2018
 
2019
 
2018
 
Securities AFS:
 
 
 
 
 
 
 
 
 
 
Net realized (gains)/losses on securities AFS
 

($4
)
 

$—

 

$38

 

($1
)
 
Net securities gains/(losses)
Tax effect
 
1

 
—

 
(9
)
 
—

 
Provision for income taxes
 
 
(3
)
 
—

 
29

 
(1
)
 
 
Derivative Instruments:
 
 
 
 
 
 
 
 
 
 
Net realized losses on cash flow hedges
 
46

 
22

 
129

 
39

 
Interest and fees on loans held for investment
Tax effect
 
(11
)
 
(5
)
 
(30
)
 
(9
)
 
Provision for income taxes
 
 
35

 
17

 
99

 
30

 
 
Employee Benefit Plans:
 
 
 
 
 
 
 
 
 
 
Amortization of prior service credit
 
(1
)
 
(2
)
 
(4
)
 
(5
)
 
Employee benefits
Amortization of actuarial loss
 
6

 
6

 
18

 
17

 
Employee benefits
 
 
5

 
4

 
14

 
12

 
 
Tax effect
 
(1
)
 
(1
)
 
(4
)
 
(3
)
 
Provision for income taxes
 
 
4

 
3

 
10

 
9

 
 
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications from AOCI to net income
 

$36

 

$20

 

$138

 

$38

 
 
v3.19.3
Significant Accounting Policies Significant Accounting Policies Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Jan. 01, 2019
Significant Accounting Policies [Line Items]      
Operating and Finance Lease Liabilities $ 1,215 $ 1,215  
Operating and Finance Lease, Right-of-Use Asset 1,134 1,134  
Interest Received from Sales-Type and Direct Financing Leases $ 36 $ 106  
Adoption of ASU 2016-02 [Member]      
Significant Accounting Policies [Line Items]      
Sale Leaseback Transaction, Deferred Gain, Gross     $ 31
Operating and Finance Lease Liabilities     1,300
Operating and Finance Lease, Right-of-Use Asset     $ 1,200
v3.19.3
Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax $ (843) $ (782) $ (2,653) $ (2,408)
Contract with Customer, Performance Obligation Satisfied in Previous Period 12 12 $ 31 38
Document Period End Date     Sep. 30, 2019  
In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (154) [1] (163) [2] $ (442) [3] (478) [4]
In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (355) [1] (345) [2] (1,029) [3] (1,036) [4]
Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (334) [1],[5] (274) [2],[6] (1,182) [3],[7] (894) [4],[8]
Out of Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue Recognition, Including Assessed Tax       618
Revenue from Contract with Customer, Including Assessed Tax (214) (205) (695)  
Out of Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue Recognition, Including Assessed Tax       311
Revenue from Contract with Customer, Including Assessed Tax (124) (99) (386)  
Out of Scope of ASC 606 [Member] | Corporate Other [Member]        
Disaggregation of Revenue [Line Items]        
Revenue Recognition, Including Assessed Tax       (35)
Revenue from Contract with Customer, Including Assessed Tax 4 30 (101)  
Deposit Account [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (141) (144) (417) (433)
Deposit Account [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (29) [1] (33) [2] (93) [3] (103) [4]
Deposit Account [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (112) [1] (111) [2] (324) [3] (330) [4]
Deposit Account [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1],[5] 0 [2],[6] 0 [3],[7] 0 [4],[8]
Financial Service, Other [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (90) [9] (89) [10] (265) [11] (264) [12]
Financial Service, Other [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (4) [1],[9] (3) [2],[10] (12) [3],[11] (8) [4],[12]
Financial Service, Other [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (27) [1],[9] (28) [2],[10] (82) [3],[11] (85) [4],[12]
Financial Service, Other [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (59) [1],[5],[9] (58) [2],[6],[10] (171) [3],[7],[11] (171) [4],[8],[12]
Credit and Debit Card [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (83) (75) (247) (241)
Credit and Debit Card [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (24) [1] (26) [2] (75) [3] (78) [4]
Credit and Debit Card [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (57) [1] (49) [2] (168) [3] (160) [4]
Credit and Debit Card [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (2) [1],[5] 0 [2],[6] (4) [3],[7] (3) [4],[8]
Investment Banking [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (159) (150) (431) (453)
Investment Banking [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (97) [1] (101) [2] (261) [3] (287) [4]
Investment Banking [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Investment Banking [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (62) [1],[5] (49) [2],[6] (170) [3],[7] (166) [4],[8]
Trading [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (29) (42) (144) (137)
Trading [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Trading [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Trading [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (29) [1],[5] (42) [2],[6] (144) [3],[7] (137) [4],[8]
Insurance Settlement [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (5) 0 (210) 0
Insurance Settlement [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Insurance Settlement [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Insurance Settlement [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (5) [1],[5] 0 [2],[6] (210) [3],[7] 0 [4],[8]
Mortgage Banking [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (106) (83) (294) (256)
Mortgage Banking [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Mortgage Banking [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Mortgage Banking [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (106) [1],[5] (83) [2],[6] (294) [3],[7] (256) [4],[8]
Fiduciary and Trust [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (78) (80) (222) (230)
Fiduciary and Trust [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Fiduciary and Trust [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (77) [1] (79) [2] (220) [3] (228) [4]
Fiduciary and Trust [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (1) [1],[5] (1) [2],[6] (2) [3],[7] (2) [4],[8]
Investment Advisory, Management and Administrative Service [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (76) [13] (74) [14] (220) [15] (219) [16]
Investment Advisory, Management and Administrative Service [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1],[13] 0 [2],[14] (1) [3],[15] (2) [4],[16]
Investment Advisory, Management and Administrative Service [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (76) [1],[13] (73) [2],[14] (218) [3],[15] (216) [4],[16]
Investment Advisory, Management and Administrative Service [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1],[5],[13] (1) [2],[6],[14] (1) [3],[7],[15] (1) [4],[8],[16]
Commercial Real Estate [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (32) (24) (106) (66)
Commercial Real Estate [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Commercial Real Estate [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Commercial Real Estate [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (32) [1],[5] (24) [2],[6] (106) [3],[7] (66) [4],[8]
Net Securities Gains/(Losses) [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 4 0 (38) (1)
Net Securities Gains/(Losses) [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Net Securities Gains/(Losses) [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Net Securities Gains/(Losses) [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 4 [1],[5] 0 [2],[6] (38) [3],[7] (1) [4],[8]
Other Income [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (40) (21) (135) (108)
Other Income [Member] | In Scope of ASC 606 [Member] | Wholesale [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 [1] 0 [2] 0 [3] 0 [4]
Other Income [Member] | In Scope of ASC 606 [Member] | Consumer [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax (6) [1] (5) [2] (17) [3] (17) [4]
Other Income [Member] | Out of Scope of ASC 606 [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax $ (34) [1],[5] $ (16) [2],[6] $ (118) [3],[7] $ (91) [4],[8]
[1]
Consumer total noninterest income and Wholesale total noninterest income exclude $124 million and $214 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($4) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
[2]
Consumer total noninterest income and Wholesale total noninterest income exclude $99 million and $205 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($30) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
[3]
Consumer total noninterest income and Wholesale total noninterest income exclude $386 million and $695 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes $101 million of Corporate Other noninterest income that is not subject to ASC Topic 606.
[4]
Consumer total noninterest income and Wholesale total noninterest income exclude $311 million and $618 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($35) million of Corporate Other noninterest income that is not subject to ASC Topic 606.
[5]
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
[6]
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
[7]
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
[8]
The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
[9]
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[10]
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[11]
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[12]
The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[13]
The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[14]
The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[15]
The Company recognized $31 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
[16]
The Company recognized $38 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods.
v3.19.3
Federal Funds Sold and Securities Financing Activities - Additional Information (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Securities Purchased under Agreements to Resell [Abstract]    
Fair Value of Securities Received as Collateral that Can be Resold or Repledged $ 1,300 $ 1,600
Fair Value of Securities Received as Collateral that Have Been Resold or Repledged $ 72 $ 108
v3.19.3
Schedule of Resale Agreements (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Securities Purchased under Agreements to Resell [Abstract]    
Federal Funds Sold $ 5 $ 42
Securities Borrowed 491 394
Securities Purchased under Agreements to Resell 818 1,243
Federal Funds Sold and Securities Purchased under Agreements to Resell $ 1,314 $ 1,679
v3.19.3
Federal Funds Sold and Securities Financing Activities Securities Sold Under Agreements to Repurchase (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase $ 1,829 $ 1,774
US Treasury Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 89 204
US Government Agencies Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 104 122
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 1,174 916
Commercial Paper [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 74 78
Corporate Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 388 454
Maturity Overnight [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 1,485 1,484
Maturity Overnight [Member] | US Treasury Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 89 197
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 95 112
Maturity Overnight [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 1,031 881
Maturity Overnight [Member] | Commercial Paper [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 74 78
Maturity Overnight [Member] | Corporate Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 196 216
Maturity up to 30 days [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 344 210
Maturity up to 30 days [Member] | US Treasury Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 0 7
Maturity up to 30 days [Member] | US Government Agencies Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 9 10
Maturity up to 30 days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 143 35
Maturity up to 30 days [Member] | Commercial Paper [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 0 0
Maturity up to 30 days [Member] | Corporate Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase $ 192 158
Maturity 30 to 90 Days [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase   80
Maturity 30 to 90 Days [Member] | US Treasury Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase   0
Maturity 30 to 90 Days [Member] | US Government Agencies Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase   0
Maturity 30 to 90 Days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase   0
Maturity 30 to 90 Days [Member] | Commercial Paper [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase   0
Maturity 30 to 90 Days [Member] | Corporate Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase   $ 80
v3.19.3
Federal Funds Sold and Securities Financing Activities Netting of Financial Instruments - Repurchase Agreements (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]    
Document Period End Date Sep. 30, 2019  
Carrying Value of Securities Purchased under Agreements to Resell and Deposits Paid for Securities Borrowed $ 1,309 $ 1,637
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure [1] 1,309 1,637
Securities Purchased under Agreements to Resell, Fair Value of Collateral 1,293 1,624
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement 16 13
Securities Borrowed or Purchased Under Agreements to Resell, Amount Not Offset Against Collateral 0 0
Securities Sold under Agreements to Repurchase, Gross 1,829 1,774
Securities Sold under Agreements to Repurchase 1,829 1,774
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities 1,829 1,774
Securities Sold under Agreements to Repurchase, Not Subject to Master Netting Arrangement 0 0
Securities Sold Under Agreements to Repurchase, Amount Not Offset Against Collateral 0 0
Federal Funds Sold $ 5 $ 42
[1] Excludes $5 million and $42 million of Fed Funds sold that are not subject to a master netting agreement at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Trading Securities (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI [1] $ 7,104 $ 5,506
Trading liabilities 1,380 1,604
US Treasury Securities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 212 262
Trading liabilities 538 801
US Government Agencies Debt Securities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 319 188
US States and Political Subdivisions Debt Securities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 43 54
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Trading liabilities 0 3
Corporate Debt Securities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 628 700
Trading liabilities 539 385
Commercial Paper [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 122 190
Equity Securities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 86 73
Trading liabilities 20 5
Derivative Financial Instruments, Assets [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI [2] 1,770 639
Loans [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI [3] 2,862 2,540
Derivative Financial Instruments, Liabilities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Trading liabilities [2] 274 410
Trading Loans [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 2,862 2,540
Trading liabilities 9 0
Fair Value, Recurring [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 7,104 5,506
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI   860
Fair Value, Recurring [Member] | Asset-backed Securities [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 7 0
Fair Value, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 51 0
Fair Value, Recurring [Member] | Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Debt and Equity Securities, FV-NI [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI $ 1,004 $ 860
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
[2] Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists.
[3] Includes loans related to TRS.
v3.19.3
Schedule of Financial Instruments Owned and Pledged as Collateral (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Amount of Repurchase Agreements Secured by Trading Assets $ 1,200 $ 1,400
Repurchase Agreements [Member]    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Security Owned and Pledged as Collateral, Fair Value [1] 1,226 1,418
Derivative [Member]    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Security Owned and Pledged as Collateral, Fair Value 62 22
Equity Trading [Member]    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Security Owned and Pledged as Collateral, Fair Value $ 40 $ 40
[1] Repurchase agreements secured by collateral totaled $1.2 billion and $1.4 billion at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Loans - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans and Leases Receivable, Gain (Loss) on Sales, Net $ 45   $ 47    
Long-term Debt [1] 20,369   20,369   $ 15,072
Other Short-term Borrowings 5,061   5,061   4,857
Loans held for investment [2] 158,455   158,455   151,839
Finance Leases Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held for investment $ 4,000   $ 4,000   $ 4,100
Federal National Mortgage Association (FNMA) Insured Loans [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Percentage of Loan Portfolio Current 29.00%   29.00%   27.00%
Loans held for investment $ 457   $ 457   $ 459
Government Guarantee Percent 1.00%   1.00%   1.00%
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Percentage of Loan Portfolio Current 78.00%   78.00%   72.00%
Loans held for investment $ 7,146   $ 7,146   $ 7,229
Consumer Indirect [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held for investment 14,060   14,060   12,419
Residential Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held for investment $ 38,100   $ 38,100   $ 38,900
Percentage of Loans Held for Investment 24.00%   24.00%   26.00%
Commercial Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held for investment $ 85,007   $ 85,007   $ 80,940
Geographic Distribution, Foreign [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held for investment 1,900   1,900   1,800
Home Equity Line of Credit [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held for investment [3] 8,696   8,696   9,468
Minimum [Member] | Commercial Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans And Leases Receivable Individually Evaluated For Impairment 3   3   3
Home Equity Line of Credit [Member] | Credit Concentration Risk [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Unused Commitments to Extend Credit 10,600   10,600   10,300
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Unused Commitments to Extend Credit 5,700   5,700   2,700
Federal Home Loan Bank Advances [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Long-term Debt 7,500   7,500   $ 5,000
Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Sale [4],[5] 0 $ 0 432 $ 100  
Commercial Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Sale [4],[5] 171 14 387 87  
Non-recurring loan purchase [Member] | Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Purchase [6],[7] 160 101 418 101  
Recurring loan purchase [Member] | Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Purchase [7],[8] $ 517 $ 545 $ 1,433 $ 1,568  
[1] Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[3] Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018, respectively, for which there was nominal risk of principal loss due to the government guarantee.
[4] Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business.
[5] The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019, and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018.
[6] Purchases are episodic in nature and are conducted based on specific business strategies.
[7] Represents UPB of loans purchased.
[8] Purchases are routine in nature and are conducted in the normal course of business.
v3.19.3
Securities Available for Sale (Detail) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]    
Document Period End Date Sep. 30, 2019  
Amortized Cost $ 30,572 $ 31,910
Unrealized Gains 792 142
Unrealized Losses 6 610
Available-for-sale Securities [1] 31,358 31,442
US Treasury Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 3,915 4,277
Unrealized Gains 103 0
Unrealized Losses 0 66
Available-for-sale Securities 4,018 4,211
US Government Agencies Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 123 221
Unrealized Gains 1 2
Unrealized Losses 0 2
Available-for-sale Securities 124 221
US States and Political Subdivisions Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 564 606
Unrealized Gains 9 4
Unrealized Losses 1 21
Available-for-sale Securities 572 589
Other Debt Obligations [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 12 14
Unrealized Gains 0 0
Unrealized Losses 0 0
Available-for-sale Securities 12 14
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 2,881 2,688
Unrealized Gains 103 8
Unrealized Losses 1 69
Available-for-sale Securities 2,983 2,627
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 1,008 943
Unrealized Gains 56 0
Unrealized Losses 0 27
Available-for-sale Securities 1,064 916
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 22,069 23,161
Unrealized Gains 520 128
Unrealized Losses 4 425
Available-for-sale Securities $ 22,585 $ 22,864
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Composition of the Company's Loan Portfolio (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Other Real Estate [1] $ 52 $ 54
Loans held for investment [2] 158,455 151,839
Loans Held for Sale [3] 2,006 1,468
Finance Leases Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 4,000 4,100
Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [4] 73,374 71,137
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 9,491 7,265
Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 2,142 2,538
Commercial Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Other Real Estate 1 2
Loans held for investment 85,007 80,940
Federal National Mortgage Association (FNMA) Insured Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 457 459
Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [5],[7] 28,810 [6] 28,836 [8]
Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [7] 8,696 9,468
Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [7] 144 184
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 7,146 7,229
Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 12,431 10,615
Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 14,060 12,419
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,704 1,689
Consumer Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment $ 73,448 $ 70,899
[1] Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[3] Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018, respectively.
[4] Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018, respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018, respectively.
[5] Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018, respectively.
[6] Includes $124 million of LHFI measured at fair value, the majority of which were accruing current.
[7] Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018, respectively, for which there was nominal risk of principal loss due to the government guarantee.
[8] Includes $163 million of LHFI measured at fair value, the majority of which were accruing current.
v3.19.3
Securities Available for Sale (Addition Information) (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]          
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held $ 0   $ 0   $ 0
Debt and Equity Securities, Gain (Loss) 4 $ 0 (38) $ 1  
Debt Securities, Available-for-sale, Restricted 4,000   4,000   3,300
Available-for-sale Securities [1] 31,358   31,358   31,442
Federal Home Loan Bank (FHLB) of Atlanta stock (par value) [2] 334   334   227
Federal Reserve Bank Stock [2] 403   403   403
Mutual Fund Investments [2] 66   66   79
Fair Value, Inputs, Level 3 [Member]          
Debt Securities, Available-for-sale [Line Items]          
Available-for-sale Securities 0   0   0
Fair Value, Recurring [Member]          
Debt Securities, Available-for-sale [Line Items]          
Available-for-sale Securities 31,358   31,358   31,442
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Debt Securities, Available-for-sale [Line Items]          
Available-for-sale Securities $ 0   $ 0   $ 0
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively.
[2] Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4, “Trading Assets and Liabilities and Derivative Instruments,” for more information.
v3.19.3
Composition of the Company's Loan Portfolio (Additional Information) (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Other Real Estate [1] $ 52   $ 52   $ 54
Letters of Credit Outstanding, Amount 4,200   4,200   5,800
Loans and Leases Receivable, Gross [2] 158,455   158,455   151,839
Loans Receivable, Fair Value Disclosure 124   124   163
Loans and Leases Receivable, Gain (Loss) on Sales, Net 45   47    
Transfer of Portfolio Loans and Leases to Held-for-sale     812 $ 449  
Transfer of Loans Held-for-sale to Portfolio Loans     17 23  
Transfer to Other Real Estate     33 44  
Consumer Indirect [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans and Leases Receivable, Gross 14,060   14,060   12,419
Finance Leases Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans and Leases Receivable, Gross 4,000   4,000   4,100
Installment Loans [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans and Leases Receivable, Gross 817   817   796
Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans and Leases Receivable, Gross 73,448   73,448   70,899
Commercial Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Other Real Estate 1   1   2
Loans and Leases Receivable, Gross 85,007   85,007   80,940
Loans Receivable, Fair Value Disclosure $ 0   $ 0   $ 0
Federal National Mortgage Association (FNMA) Insured Loans [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Percentage of Loan Portfolio Current 29.00%   29.00%   27.00%
Loans and Leases Receivable, Gross $ 457   $ 457   $ 459
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Percentage of Loan Portfolio Current 78.00%   78.00%   72.00%
Loans and Leases Receivable, Gross $ 7,146   $ 7,146   $ 7,229
Credit Concentration Risk [Member] | Home Equity Line of Credit [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Unused Commitments to Extend Credit 10,600   10,600   10,300
Commercial Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Sale [3],[4] 171 $ 14 387 87  
Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Sale [3],[4] 0 0 432 100  
Federal Reserve Bank Advances [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans Pledged as Collateral 33,300   33,300   28,100
Line of Credit Facility, Remaining Borrowing Capacity 24,400   24,400   21,300
Federal Home Loan Bank Advances [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans Pledged as Collateral 39,800   39,800   39,200
Line of Credit Facility, Remaining Borrowing Capacity 32,500   32,500   $ 31,000
Non-recurring loan purchase [Member] | Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Purchase [5],[6] 160 101 418 101  
Recurring loan purchase [Member] | Consumer Portfolio Segment [Member]          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing Receivable, Purchase [6],[7] $ 517 $ 545 $ 1,433 $ 1,568  
[1] Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[3] Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business.
[4] The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019, and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018.
[5] Purchases are episodic in nature and are conducted based on specific business strategies.
[6] Represents UPB of loans purchased.
[7] Purchases are routine in nature and are conducted in the normal course of business.
v3.19.3
Interest and dividends on SAFS (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Debt Securities, Available-for-sale [Line Items]        
Interest Income, Securities, Taxable $ 211 $ 207 $ 646 $ 614
Interest Income, Securities, Tax Exempt 4 5 13 14
Interest and Dividend Income, Securities, Available-for-sale $ 215 $ 212 $ 659 $ 628
v3.19.3
LHFI by Credit Quality Indicator (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [1] $ 158,455 $ 151,839
Financing Receivable, Nonaccrual [2] 600 [3] 526 [4]
Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [5] 73,374 71,137
Financing Receivable, Nonaccrual 350 [3] 157 [4]
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 9,491 7,265
Financing Receivable, Nonaccrual 1 [3] 2 [4]
Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 2,142 2,538
Financing Receivable, Nonaccrual 0 [3] 0 [4]
Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6],[8] 28,810 [7] 28,836 [9]
Financing Receivable, Nonaccrual 125 [3],[7] 204 [4],[9]
Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 8,696 9,468
Financing Receivable, Nonaccrual 100 [3] 138 [4]
Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 144 184
Financing Receivable, Nonaccrual 8 [3] 11 [4]
Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 12,431 10,615
Financing Receivable, Nonaccrual 11 [3] 7 [4]
Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 14,060 12,419
Financing Receivable, Nonaccrual 5 [3] 7 [4]
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,704 1,689
Financing Receivable, Nonaccrual 0 [3] 0 [4]
Pass | Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 70,739 69,095
Pass | Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 9,410 7,165
Pass | Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 2,082 2,459
Criticized Accruing | Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 2,285 1,885
Criticized Accruing | Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 80 98
Criticized Accruing | Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 60 79
FICO Score 700 and Above [Member] | Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 25,985 25,764
FICO Score 700 and Above [Member] | Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 7,406 8,060
FICO Score 700 and Above [Member] | Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 116 151
FICO Score 700 and Above [Member] | Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 10,671 9,296
FICO Score 700 and Above [Member] | Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 10,904 9,315
FICO Score 700 and Above [Member] | Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,145 1,142
FICO Score Between 620 and 699 | Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 2,219 2,367
FICO Score Between 620 and 699 | Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 929 1,015
FICO Score Between 620 and 699 | Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8] 22 27
FICO Score Between 620 and 699 | Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,543 1,175
FICO Score Between 620 and 699 | Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 2,367 2,395
FICO Score Between 620 and 699 | Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 423 420
FICO Score Below 620 | Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8],[10] 606 705
FICO Score Below 620 | Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8],[10] 361 393
FICO Score Below 620 | Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [8],[10] 6 6
FICO Score Below 620 | Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [10] 217 144
FICO Score Below 620 | Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [10] 789 709
FICO Score Below 620 | Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [10] $ 136 $ 127
[1] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[2] Nonaccruing restructured LHFI are included in total nonaccrual LHFI/NPLs.
[3] Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
[4] Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
[5] Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018, respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018, respectively.
[6] Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018, respectively.
[7] Includes $124 million of LHFI measured at fair value, the majority of which were accruing current.
[8] Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018, respectively, for which there was nominal risk of principal loss due to the government guarantee.
[9] Includes $163 million of LHFI measured at fair value, the majority of which were accruing current.
[10] For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned.
v3.19.3
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life (Detail)
$ in Millions
Sep. 30, 2019
USD ($)
Distribution of Maturities: Amortized Cost, 1 Year or Less $ 2,117
Distribution of Maturities: Amortized Cost, 1-5 Years 12,679
Distribution of Maturities: Amortized Cost, 5-10 Years 14,844
Distribution of Maturities: Amortized Cost, After 10 Years 932
Distribution of Maturities: Amortized Cost, Total 30,572
Distribution of Maturities: Fair Value, 1 Year or Less 2,169
Distribution of Maturities: Fair Value, 1-5 Years 12,999
Distribution of Maturities: Fair Value, 5-10 Years 15,233
Distribution of Maturities: Fair Value, After 10 Years 957
Distribution of Maturities: Fair Value, Total $ 31,358
Available For Sale Securities Debt Maturities, Yield, One Year Or Less 3.09% [1]
Available For Sale Securities Debt Maturities, Yield, After One Through Five Years 2.81% [1]
Available For Sale Securities Debt Maturities, Yield, After Five Through Ten Years 2.93% [1]
Available For Sale Securities Debt Maturities, Yield, After Ten Years 3.02% [1]
Available For Sale Securities Debt Maturities, Yield 2.89% [1]
US Treasury Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less $ 632
Distribution of Maturities: Amortized Cost, 1-5 Years 2,331
Distribution of Maturities: Amortized Cost, 5-10 Years 952
Distribution of Maturities: Amortized Cost, After 10 Years 0
Distribution of Maturities: Amortized Cost, Total 3,915
Distribution of Maturities: Fair Value, 1 Year or Less 634
Distribution of Maturities: Fair Value, 1-5 Years 2,389
Distribution of Maturities: Fair Value, 5-10 Years 995
Distribution of Maturities: Fair Value, After 10 Years 0
Distribution of Maturities: Fair Value, Total 4,018
US Government Agencies Debt Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 50
Distribution of Maturities: Amortized Cost, 1-5 Years 10
Distribution of Maturities: Amortized Cost, 5-10 Years 6
Distribution of Maturities: Amortized Cost, After 10 Years 57
Distribution of Maturities: Amortized Cost, Total 123
Distribution of Maturities: Fair Value, 1 Year or Less 50
Distribution of Maturities: Fair Value, 1-5 Years 10
Distribution of Maturities: Fair Value, 5-10 Years 6
Distribution of Maturities: Fair Value, After 10 Years 58
Distribution of Maturities: Fair Value, Total 124
US States and Political Subdivisions Debt Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 0
Distribution of Maturities: Amortized Cost, 1-5 Years 90
Distribution of Maturities: Amortized Cost, 5-10 Years 317
Distribution of Maturities: Amortized Cost, After 10 Years 157
Distribution of Maturities: Amortized Cost, Total 564
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 95
Distribution of Maturities: Fair Value, 5-10 Years 320
Distribution of Maturities: Fair Value, After 10 Years 157
Distribution of Maturities: Fair Value, Total 572
Other Debt Obligations [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 0
Distribution of Maturities: Amortized Cost, 1-5 Years 12
Distribution of Maturities: Amortized Cost, 5-10 Years 0
Distribution of Maturities: Amortized Cost, After 10 Years 0
Distribution of Maturities: Amortized Cost, Total 12
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 12
Distribution of Maturities: Fair Value, 5-10 Years 0
Distribution of Maturities: Fair Value, After 10 Years 0
Distribution of Maturities: Fair Value, Total 12
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 1,435
Distribution of Maturities: Amortized Cost, 1-5 Years 9,389
Distribution of Maturities: Amortized Cost, 5-10 Years 10,890
Distribution of Maturities: Amortized Cost, After 10 Years 355
Distribution of Maturities: Amortized Cost, Total 22,069
Distribution of Maturities: Fair Value, 1 Year or Less 1,485
Distribution of Maturities: Fair Value, 1-5 Years 9,630
Distribution of Maturities: Fair Value, 5-10 Years 11,108
Distribution of Maturities: Fair Value, After 10 Years 362
Distribution of Maturities: Fair Value, Total 22,585
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 0
Distribution of Maturities: Amortized Cost, 1-5 Years 835
Distribution of Maturities: Amortized Cost, 5-10 Years 1,683
Distribution of Maturities: Amortized Cost, After 10 Years 363
Distribution of Maturities: Amortized Cost, Total 2,881
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 851
Distribution of Maturities: Fair Value, 5-10 Years 1,752
Distribution of Maturities: Fair Value, After 10 Years 380
Distribution of Maturities: Fair Value, Total 2,983
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 0
Distribution of Maturities: Amortized Cost, 1-5 Years 12
Distribution of Maturities: Amortized Cost, 5-10 Years 996
Distribution of Maturities: Amortized Cost, After 10 Years 0
Distribution of Maturities: Amortized Cost, Total 1,008
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 12
Distribution of Maturities: Fair Value, 5-10 Years 1,052
Distribution of Maturities: Fair Value, After 10 Years 0
Distribution of Maturities: Fair Value, Total $ 1,064
[1] Weighted average yields are based on amortized cost and presented on an FTE basis.
v3.19.3
LHFI by Credit Quality Indicator (Additional Information) (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and Leases Receivable, Gain (Loss) on Sales, Net $ 45 $ 47  
Loans and Leases Receivable, Gross [1] 158,455 158,455 $ 151,839
Commercial Portfolio Segment [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and Leases Receivable, Gross 85,007 85,007 80,940
Federal National Mortgage Association (FNMA) Insured Loans [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and Leases Receivable, Gross 457 457 459
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and Leases Receivable, Gross $ 7,146 7,146 $ 7,229
Real Estate Loan [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and Leases Receivable, Gain (Loss) on Sales, Net   $ 44  
[1] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Payment Status for the LHFI Portfolio (Detail) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Document Period End Date Sep. 30, 2019  
Accruing Current $ 155,545 $ 148,548
Accruing 30-89 Days Past Due 917 1,113
Accruing 90+ Days Past Due 1,393 1,652
Financing Receivable, Nonaccrual [1] 600 [2] 526 [3]
Total [4] 158,455 151,839
Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 72,955 70,901
Accruing 30-89 Days Past Due 55 64
Accruing 90+ Days Past Due 14 15
Financing Receivable, Nonaccrual 350 [2] 157 [3]
Total [5] 73,374 71,137
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 9,486 7,259
Accruing 30-89 Days Past Due 3 3
Accruing 90+ Days Past Due 1 1
Financing Receivable, Nonaccrual 1 [2] 2 [3]
Total 9,491 7,265
Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 2,142 2,538
Accruing 30-89 Days Past Due 0 0
Accruing 90+ Days Past Due 0 0
Financing Receivable, Nonaccrual 0 [2] 0 [3]
Total 2,142 2,538
Commercial Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 84,583 80,698
Accruing 30-89 Days Past Due 58 67
Accruing 90+ Days Past Due 15 16
Financing Receivable, Nonaccrual 351 [2] 159 [3]
Total 85,007 80,940
Federal National Mortgage Association (FNMA) Insured Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 131 125
Accruing 30-89 Days Past Due 25 39
Accruing 90+ Days Past Due 301 295
Financing Receivable, Nonaccrual 0 [2],[6] 0 [3],[7]
Total 457 459
Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 28,620 [8] 28,552 [9]
Accruing 30-89 Days Past Due 55 [8] 70 [9]
Accruing 90+ Days Past Due 10 [8] 10 [9]
Financing Receivable, Nonaccrual 125 [2],[8] 204 [3],[9]
Total [10],[11] 28,810 [8] 28,836 [9]
Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 8,534 9,268
Accruing 30-89 Days Past Due 61 62
Accruing 90+ Days Past Due 1 0
Financing Receivable, Nonaccrual 100 [2] 138 [3]
Total [11] 8,696 9,468
Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 135 170
Accruing 30-89 Days Past Due 1 3
Accruing 90+ Days Past Due 0 0
Financing Receivable, Nonaccrual 8 [2] 11 [3]
Total [11] 144 184
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 5,563 5,236
Accruing 30-89 Days Past Due 543 685
Accruing 90+ Days Past Due 1,040 1,308
Financing Receivable, Nonaccrual 0 [2],[6] 0 [3],[7]
Total 7,146 7,229
Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 12,362 10,559
Accruing 30-89 Days Past Due 53 45
Accruing 90+ Days Past Due 5 4
Financing Receivable, Nonaccrual 11 [2] 7 [3]
Total 12,431 10,615
Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 13,951 12,286
Accruing 30-89 Days Past Due 103 125
Accruing 90+ Days Past Due 1 1
Financing Receivable, Nonaccrual 5 [2] 7 [3]
Total 14,060 12,419
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 1,666 1,654
Accruing 30-89 Days Past Due 18 17
Accruing 90+ Days Past Due 20 18
Financing Receivable, Nonaccrual 0 [2] 0 [3]
Total 1,704 1,689
Consumer Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 70,962 67,850
Accruing 30-89 Days Past Due 859 1,046
Accruing 90+ Days Past Due 1,378 1,636
Financing Receivable, Nonaccrual 249 [2] 367 [3]
Total $ 73,448 $ 70,899
[1] Nonaccruing restructured LHFI are included in total nonaccrual LHFI/NPLs.
[2] Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
[3] Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
[4] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[5] Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018, respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018, respectively.
[6] Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. 
[7] Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government.
[8] Includes $124 million of LHFI measured at fair value, the majority of which were accruing current.
[9] Includes $163 million of LHFI measured at fair value, the majority of which were accruing current.
[10] Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018, respectively.
[11] Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018, respectively, for which there was nominal risk of principal loss due to the government guarantee.
v3.19.3
Securities with Unrealized Losses (Detail) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Investments, Unrealized Loss Position [Line Items]    
Document Period End Date Sep. 30, 2019  
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value $ 1,485 $ 1,452
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 6 [1] 7 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 6 22,822
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 603 [2]
Total, Fair Value 1,491 24,274
Total, Unrealized Losses 6 [1] 610 [2]
Other Than Temporarily Impaired Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 0 [3] 0 [4]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 [1],[3] 0 [2],[4]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 [3] 0 [4]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1],[3] 0 [2],[4]
Total, Fair Value 0 [3] 0 [4]
Total, Unrealized Losses 0 [1],[3] 0 [2],[4]
Temporarily Impaired Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 1,485 1,452
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 6 [1] 7 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 6 22,822
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 603 [2]
Total, Fair Value 1,491 24,274
Total, Unrealized Losses 6 [1] 610 [2]
Temporarily Impaired Securities [Member] | US Treasury Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 50 0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 [1] 0 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 4,177
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 66 [2]
Total, Fair Value 50 4,177
Total, Unrealized Losses 0 [1] 66 [2]
Temporarily Impaired Securities [Member] | US Government Agencies Debt Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 20 0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 [1] 0 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 63
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 2 [2]
Total, Fair Value 20 63
Total, Unrealized Losses 0 [1] 2 [2]
Temporarily Impaired Securities [Member] | US States and Political Subdivisions Debt Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 119 49
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 1 [1] 1 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 430
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 20 [2]
Total, Fair Value 119 479
Total, Unrealized Losses 1 [1] 21 [2]
Temporarily Impaired Securities [Member] | Other Debt Obligations [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 0 0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 [1] 0 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 6 9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 0 [2]
Total, Fair Value 6 9
Total, Unrealized Losses 0 [1] 0 [2]
Temporarily Impaired Securities [Member] | Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 207 68
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 1 [1] 0 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 1,986
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 69 [2]
Total, Fair Value 207 2,054
Total, Unrealized Losses 1 [1] 69 [2]
Temporarily Impaired Securities [Member] | Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value   106
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss [2]   1
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value   773
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss [2]   26
Total, Fair Value   879
Total, Unrealized Losses [2]   27
Temporarily Impaired Securities [Member] | Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 1,089 1,229
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 4 [1] 5 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 15,384
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 [1] 420 [2]
Total, Fair Value 1,089 16,613
Total, Unrealized Losses $ 4 [1] $ 425 [2]
[1] Unrealized losses less than $0.5 million are presented as zero within the table.
[2] Unrealized losses less than $0.5 million are presented as zero within the table.
[3] OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.
[4] OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.
v3.19.3
Gross Realized Gains and Losses on Sales and OTTI on Securities Available for Sale (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Available-for-sale Securities, Gross Realized Gains $ 4 $ 0 $ 4 $ 7
Available-for-sale Securities, Gross Realized Losses 0 0 (42) (6)
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) 0 0 0 0
Debt and Equity Securities, Gain (Loss) $ 4 $ 0 $ (38) $ 1
v3.19.3
Payment Status for the LHFI Portfolio (Additional Information) (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Financing Receivable, Impaired [Line Items]    
Loans Receivable, Fair Value Disclosure $ 124 $ 163
Nonaccruing 90 Plus Days Past Due $ 306 $ 306
v3.19.3
LHFI Considered Impaired (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, Unpaid Principal Balance $ 2,309   $ 2,309   $ 2,890
Impaired Financing Receivable, Recorded Investment [1] 2,180   2,180   2,611
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 179   179   167
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 2,193 $ 2,780 2,219 $ 2,809  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 26 30 85 94  
Commercial and Industrial [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 48   48   132
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 39   39   79
Impaired Financing Receivable, Unpaid Principal Balance 311   311   81
Impaired Financing Receivable, Recorded Investment [1] 300   300   70
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 71   71   13
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 40 44 41 45  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 0 0 1  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 303 177 305 176  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 2 0 8 3  
Commercial Real Estate [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 0   0   10
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 0   0   0
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 0 20 0 20  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 0 0 0  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 0 21 0 22  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 0 0 0 0  
Commercial Portfolio Segment [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 48   48   142
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 39   39   79
Impaired Financing Receivable, Unpaid Principal Balance 311   311   81
Impaired Financing Receivable, Recorded Investment [1] 300   300   70
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 71   71   13
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 40 64 41 65  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 0 0 1  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 303 198 305 198  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 2 0 8 3  
Residential Nonguaranteed [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 354   354   501
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 283   283   397
Impaired Financing Receivable, Unpaid Principal Balance 561   561   1,006
Impaired Financing Receivable, Recorded Investment [1] 561   561   984
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 54   54   96
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 284 381 287 386  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 4 4 12 11  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 562 1,027 565 1,031  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 8 13 28 39  
Home Equity Line of Credit [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, Unpaid Principal Balance 753   753   849
Impaired Financing Receivable, Recorded Investment [1] 721   721   799
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 41   41   44
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 723 824 732 833  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 8 9 25 27  
Residential Construction [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 7   7   12
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 4   4   7
Impaired Financing Receivable, Unpaid Principal Balance 70   70   79
Impaired Financing Receivable, Recorded Investment [1] 68   68   76
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 5   5   6
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 4 7 4 7  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 0 0 0  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 68 80 69 82  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 1 1 3 4  
Consumer Other Direct [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, Unpaid Principal Balance 57   57   57
Impaired Financing Receivable, Recorded Investment [1] 57   57   57
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 1   1   1
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 58 57 58 58  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 1 1 3 3  
Consumer Indirect [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, Unpaid Principal Balance 136   136   133
Impaired Financing Receivable, Recorded Investment [1] 135   135   133
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 4   4   5
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 139 134 147 141  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 2 2 5 5  
Credit Card Receivable [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, Unpaid Principal Balance 12   12   30
Impaired Financing Receivable, Recorded Investment [1] 12   12   9
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 3   3   2
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 12 8 11 8  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 0 0 1 1  
Consumer Portfolio Segment [Member]          
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 361   361   513
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 287   287   404
Impaired Financing Receivable, Unpaid Principal Balance 1,589   1,589   2,154
Impaired Financing Receivable, Recorded Investment [1] 1,554   1,554   2,058
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 108   108   $ 154
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 288 388 291 393  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 4 4 12 11  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 1,562 2,130 1,582 2,153  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] $ 20 $ 26 $ 65 $ 79  
[1] Carrying value reflects charge-offs that have been recognized plus other amounts that have been applied to adjust the net book balance.
[2] Of the interest income recognized during the three and nine months ended September 30, 2019, cash basis interest income was immaterial and $9 million, respectively.
Of the interest income recognized during the three and nine months ended September 30, 2018, cash basis interest income was immaterial.

v3.19.3
LHFI Considered Impaired (Additional Information) (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Financing Receivable, Impaired [Line Items]          
Impaired Financing Receivable, Interest Income, Cash Basis Method     $ 9    
Loans and Leases Receivable, Gross [1] $ 158,455   158,455   $ 151,839
Transfer of Loans Held-for-sale to Portfolio Loans     17 $ 23  
Financing Receivable, Troubled Debt Restructuring, Postmodification 41 [2] $ 55 [3] 103 [4] 230 [5]  
Accrual Loans [Member]          
Financing Receivable, Impaired [Line Items]          
Financing Receivable, Troubled Debt Restructuring $ 1,800   $ 1,800   $ 2,300
Percentage Of Accruing Troubled Debt Restructurings, Current 97.00%   97.00%   97.00%
Real Estate Loan [Member]          
Financing Receivable, Impaired [Line Items]          
Financing Receivable, Sale     $ 465    
Commercial Portfolio Segment [Member]          
Financing Receivable, Impaired [Line Items]          
Loans and Leases Receivable, Gross $ 85,007   85,007   $ 80,940
Consumer Other Direct [Member]          
Financing Receivable, Impaired [Line Items]          
Loans and Leases Receivable, Gross 12,431   12,431   $ 10,615
Financing Receivable, Troubled Debt Restructuring, Postmodification 3 [2] 2 [3] 10 [4] 6 [5]  
Consumer Portfolio Segment [Member]          
Financing Receivable, Impaired [Line Items]          
Financing Receivable, Sale [6],[7] $ 0 $ 0 $ 432 $ 100  
[1] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes loans modified under the terms of a TDR that were charged-off during the period.
[3] Includes loans modified under the terms of a TDR that were charged-off during the period.
[4] Includes loans modified under the terms of a TDR that were charged-off during the period.
[5] Includes loans modified under the terms of a TDR that were charged-off during the period.
[6] Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business.
[7] The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019, and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018.
v3.19.3
Rollforward of Credit Losses Recognized in Earnings Related to Securities (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]    
Available-for-sale Securities [1] $ 31,358 $ 31,442
Ending balance $ 0 $ 0
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Nonperforming Assets (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Financing Receivable, Nonaccrual [1] $ 600 [2] $ 526 [3]
OREO [4] 52 54
Other repossessed assets 8 9
Total nonperforming assets 661 589
Commercial and Industrial [Member]    
Financing Receivable, Nonaccrual 350 [2] 157 [3]
Commercial Real Estate [Member]    
Financing Receivable, Nonaccrual 1 [2] 2 [3]
Commercial Construction [Member]    
Financing Receivable, Nonaccrual 0 [2] 0 [3]
Residential Nonguaranteed [Member]    
Financing Receivable, Nonaccrual 125 [2],[5] 204 [3],[6]
Home Equity Line of Credit [Member]    
Financing Receivable, Nonaccrual 100 [2] 138 [3]
Residential Construction [Member]    
Financing Receivable, Nonaccrual 8 [2] 11 [3]
Consumer Other Direct [Member]    
Financing Receivable, Nonaccrual 11 [2] 7 [3]
Consumer Indirect [Member]    
Financing Receivable, Nonaccrual $ 5 [2] $ 7 [3]
[1] Nonaccruing restructured LHFI are included in total nonaccrual LHFI/NPLs.
[2] Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
[3] Includes nonaccruing LHFI past due 90 days or more of $306 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI.
[4] Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.
[5] Includes $124 million of LHFI measured at fair value, the majority of which were accruing current.
[6] Includes $163 million of LHFI measured at fair value, the majority of which were accruing current.
v3.19.3
Nonperforming Assets (Additional Information) (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Other Real Estate [1] $ 52 $ 54
Accrual Loans [Member]    
Mortgage Loans in Process of Foreclosure, Amount 123 110
Proceeds due from FHA or VA [Member]    
Mortgage Loans in Process of Foreclosure, Amount 115 103
Other Real Estate 43 50
Nonaccrual loans [Member]    
Mortgage Loans in Process of Foreclosure, Amount 73 93
Residential Portfolio Segment [Member]    
Other Real Estate 50 50
Commercial Portfolio Segment [Member]    
Other Real Estate 1 2
Land and Land Improvements [Member]    
Other Real Estate $ 1 $ 2
[1] Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Loans TDR Modifications (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
USD ($)
contracts
 [1]
Sep. 30, 2018
USD ($)
contracts
 [2]
Sep. 30, 2019
USD ($)
contracts
 [3]
Sep. 30, 2018
USD ($)
contracts
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 1,521 1,270 4,319 4,305 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 5 $ 5 $ 14 $ 23 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 36 50 89 207 [4]
Financing Receivable, Amount Restructured During Period $ 41 $ 55 $ 103 $ 230 [4]
Residential Construction [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts [4]       4
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted [4]       $ 0
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted [4]       0
Financing Receivable, Amount Restructured During Period [4]       $ 0
Credit Card [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 537 345 1,531 1,079 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 3 $ 1 $ 7 $ 4 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 0 0 0 0 [4]
Financing Receivable, Amount Restructured During Period $ 3 $ 1 $ 7 $ 4 [4]
Commercial and Industrial [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 32 47 88 122 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 0 $ 1 $ 0 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 12 16 17 75 [4]
Financing Receivable, Amount Restructured During Period $ 12 $ 16 $ 18 $ 75 [4]
Residential Nonguaranteed [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 30 48 88 267 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 2 $ 3 $ 4 $ 18 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 2 7 7 46 [4]
Financing Receivable, Amount Restructured During Period $ 4 $ 10 $ 11 $ 64 [4]
Home Equity Line of Credit [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 54 130 215 410 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 1 $ 2 $ 1 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 3 11 13 34 [4]
Financing Receivable, Amount Restructured During Period $ 3 $ 12 $ 15 $ 35 [4]
Consumer Other Direct [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 234 141 642 469 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 0 $ 0 $ 0 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 3 2 10 6 [4]
Financing Receivable, Amount Restructured During Period $ 3 $ 2 $ 10 $ 6 [4]
Consumer Indirect [Member]        
Financing Receivable, Troubled Debt Restructuring [Line Items]        
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 634 559 1,755 1,954 [4]
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 0 $ 0 $ 0 [4]
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 16 14 42 46 [4]
Financing Receivable, Amount Restructured During Period $ 16 $ 14 $ 42 $ 46 [4]
[1] Includes loans modified under the terms of a TDR that were charged-off during the period.
[2] Includes loans modified under the terms of a TDR that were charged-off during the period.
[3] Includes loans modified under the terms of a TDR that were charged-off during the period.
[4] Includes loans modified under the terms of a TDR that were charged-off during the period.
v3.19.3
Loans Mortgages With Potential Concentration of Credit Risk (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross [1] $ 158,455 $ 151,839
Geographic Distribution, Foreign [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross 1,900 1,800
Residential Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross $ 38,100 $ 38,900
Percentage of Loans Held for Investment 24.00% 26.00%
Federal National Mortgage Association (FNMA) Insured Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross $ 457 $ 459
Government Guarantee Percent 1.00% 1.00%
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unused Commitments to Extend Credit $ 5,700 $ 2,700
[1] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Activity in the Allowance for Credit Losses (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Dec. 31, 2017
Components:                
Allowance for credit losses $ 1,771 $ 1,695 $ 1,771 $ 1,695        
Provision for loan losses 130 61 409 128        
Provision for Other Credit Losses 2 [1] 0 [2] 3 [1] (7) [2]        
Allowance for Loan and Lease Losses, Write-offs (139) (122) (377) (329)        
Loan recoveries 27 34 83 89        
Allowance for Loan and Lease Losses, Adjustments, Other 0   (31) [3]          
Loans and Leases Receivable, Allowance 1,699 1,623 1,699 1,623 $ 1,681 $ 1,615 $ 1,650 $ 1,735
Unfunded commitments reserve 72 [1] 72 [2] 72 [1] 72 [2] 70 [1] 69 [1] 72 [2] 79 [2]
Commercial Portfolio Segment [Member]                
Components:                
Allowance for credit losses 1,286 1,134 1,286 1,134        
Provision for loan losses 42 36 208 37        
Provision for Other Credit Losses 2 [1] 0 [2] 3 [1] (7) [2]        
Allowance for Loan and Lease Losses, Write-offs (35) (51) (88) (95)        
Loan recoveries 5 9 14 19        
Allowance for Loan and Lease Losses, Adjustments, Other 0   0          
Loans and Leases Receivable, Allowance 1,214 1,062 1,214 1,062 1,202 1,080 1,068 1,101
Unfunded commitments reserve 72 [1] 72 [2] 72 [1] 72 [2] 70 [1] 69 [1] 72 [2] 79 [2]
Consumer Portfolio Segment [Member]                
Components:                
Allowance for credit losses 485 561 485 561        
Provision for loan losses 88 25 201 91        
Allowance for Loan and Lease Losses, Write-offs (104) (71) (289) (234)        
Loan recoveries 22 25 69 70        
Allowance for Loan and Lease Losses, Adjustments, Other 0   (31) [3]          
Loans and Leases Receivable, Allowance $ 485 $ 561 $ 485 $ 561 $ 479 $ 535 $ 582 $ 634
[1] The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.
[2] The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets
[3] Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019.
v3.19.3
Activity in the ALLL by segment (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Dec. 31, 2017
Allowance for Loan and Lease Losses [Roll Forward]                
Provision for loan losses $ 130 $ 61 $ 409 $ 128        
Allowance for Loan and Lease Losses, Write-offs (139) (122) (377) (329)        
Loan recoveries 27 34 83 89        
Allowance for Loan and Lease Losses, Adjustments, Other 0   (31) [1]          
Loans and Leases Receivable, Allowance 1,699 1,623 1,699 1,623 $ 1,681 $ 1,615 $ 1,650 $ 1,735
Unfunded commitments reserve 72 [2] 72 [3] 72 [2] 72 [3] 70 [2] 69 [2] 72 [3] 79 [3]
Provision for Other Credit Losses 2 [2] 0 [3] 3 [2] (7) [3]        
Financing Receivable, Allowance for Credit Loss 1,771 1,695 1,771 1,695        
Commercial Portfolio Segment [Member]                
Allowance for Loan and Lease Losses [Roll Forward]                
Provision for loan losses 42 36 208 37        
Allowance for Loan and Lease Losses, Write-offs (35) (51) (88) (95)        
Loan recoveries 5 9 14 19        
Allowance for Loan and Lease Losses, Adjustments, Other 0   0          
Loans and Leases Receivable, Allowance 1,214 1,062 1,214 1,062 1,202 1,080 1,068 1,101
Unfunded commitments reserve 72 [2] 72 [3] 72 [2] 72 [3] 70 [2] 69 [2] 72 [3] 79 [3]
Provision for Other Credit Losses 2 [2] 0 [3] 3 [2] (7) [3]        
Financing Receivable, Allowance for Credit Loss 1,286 1,134 1,286 1,134        
Consumer Portfolio Segment [Member]                
Allowance for Loan and Lease Losses [Roll Forward]                
Provision for loan losses 88 25 201 91        
Allowance for Loan and Lease Losses, Write-offs (104) (71) (289) (234)        
Loan recoveries 22 25 69 70        
Allowance for Loan and Lease Losses, Adjustments, Other 0   (31) [1]          
Loans and Leases Receivable, Allowance 485 561 485 561 $ 479 $ 535 $ 582 $ 634
Financing Receivable, Allowance for Credit Loss $ 485 $ 561 $ 485 $ 561        
[1] Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019.
[2] The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.
[3] The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets
v3.19.3
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Jun. 30, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Dec. 31, 2017
Individually evaluated $ 2,180   $ 2,611      
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 179   167      
Collectively evaluated 156,151   149,065      
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment 1,520   1,448      
Total evaluated 158,331   151,676      
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans 1,699   1,615      
Loans Receivable, Fair Value Disclosure 124   163      
Total [1] 158,455   151,839      
Loans and Leases Receivable, Allowance 1,699 $ 1,681 1,615 $ 1,623 $ 1,650 $ 1,735
Commercial Portfolio Segment [Member]            
Individually evaluated 339   149      
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 71   13      
Collectively evaluated 84,668   80,791      
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment 1,143   1,067      
Total evaluated 85,007   80,940      
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans 1,214   1,080      
Loans Receivable, Fair Value Disclosure 0   0      
Total 85,007   80,940      
Loans and Leases Receivable, Allowance 1,214 1,202 1,080 1,062 1,068 1,101
Residential Portfolio Segment [Member]            
Total 38,100   38,900      
Consumer Portfolio Segment [Member]            
Individually evaluated 1,841   2,462      
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 108   154      
Collectively evaluated 71,483   68,274      
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment 377   381      
Total evaluated 73,324   70,736      
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans 485   535      
Total 73,448   70,899      
Loans and Leases Receivable, Allowance $ 485 $ 479 $ 535 $ 561 $ 582 $ 634
[1] Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement $ 300,875   $ 300,875   $ 299,181
Mortgage Servicing Rights, Fair Value [Member]          
Fees and Commissions, Mortgage Banking and Servicing [1] 110 $ 108 331 $ 322  
Principal Amount Outstanding of Loans Serviced For Third Parties 135,029   135,029   140,801
Unpaid Principal Balance of Outstanding Underlying MSRs Purchased     0 7,000  
Principal Amount Sold on Loans Serviced for Third Parties     708 781  
Asset-backed Securities, Securitized Loans and Receivables [Member]          
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 141,906   141,906   146,208
Commercial Mortgage Servicing Rights [Member]          
Fees and Commissions, Mortgage Banking and Servicing [2] 6 5 19 20  
Principal Amount Outstanding of Loans Serviced 40,116   40,116   34,539
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 7,391   7,391   6,399
Servicing Asset at Amortized Cost 72   72   66
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member]          
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 134,515   134,515   139,809
Pillar Financial [Member]          
Fees and Commissions, Mortgage Banking and Servicing [2] 5 $ 3 13 $ 9  
Principal Amount Outstanding of Loans Serviced For Third Parties $ 32,725   $ 32,725   $ 28,140
[1] Recognized in Mortgage-related income in the Consolidated Statements of Income.
[2] Recognized in Commercial real estate-related income in the Consolidated Statements of Income.
v3.19.3
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2019
Dec. 31, 2018
Dec. 31, 2017
Goodwill [Line Items]        
Goodwill $ 6,331 $ 6,331 $ 6,331 $ 6,331
Goodwill, Transfers 0      
Consumer [Member]        
Goodwill [Line Items]        
Goodwill 4,390     4,262
Goodwill, Transfers 128      
Wholesale [Member]        
Goodwill [Line Items]        
Goodwill 1,941     $ 2,069
Goodwill, Transfers $ (128)      
v3.19.3
Goodwill and Other Intangible Assets - Changes in the Carrying Amounts of Other Intangible Assets (Detail) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Document Period End Date Sep. 30, 2019      
Intangible Assets, Net (Excluding Goodwill) $ 1,648 $ 2,140 $ 2,062 $ 1,791
Amortization [1] (9) (13)    
Origination of Mortgage Servicing Rights (MSRs) 251 260    
Servicing Assets at Fair Value, Purchased   89    
Due to changes in inputs or assumptions [2] (439) 198    
Servicing Asset at Fair Value, Other Changes in Fair Value [3] (215) (183)    
Servicing Asset at Fair Value, Disposals (2) (2)    
Finite-Lived Intangible Assets, Accumulated Amortization (43)   (34)  
Intangible Assets, Gross (Excluding Goodwill) 1,691   2,096  
Mortgage Servicing Rights, Fair Value [Member]        
Amortization [1] 0 0    
Origination of Mortgage Servicing Rights (MSRs) 237 250    
Servicing Assets at Fair Value, Purchased   89    
Due to changes in inputs or assumptions [2] (439) 198    
Servicing Asset at Fair Value, Other Changes in Fair Value [3] (215) (183)    
Servicing Asset at Fair Value, Disposals (2) (2)    
Servicing Asset at Fair Value, Amount 1,564 2,062 1,983 1,710
Other Intangible Assets [Member]        
Intangible Assets, Net (Excluding Goodwill) 12 14 13 16
Amortization [1] (1) (2)    
Origination of Mortgage Servicing Rights (MSRs) 0 0    
Servicing Assets at Fair Value, Purchased   0    
Due to changes in inputs or assumptions [2] 0 0    
Servicing Asset at Fair Value, Other Changes in Fair Value [3] 0 0    
Servicing Asset at Fair Value, Disposals 0 0    
Finite-Lived Intangible Assets, Gross [4] 6   6  
Finite-Lived Intangible Assets, Accumulated Amortization [4] (6)   (5)  
Finite-Lived Intangible Assets, Net [4] 0   1  
Indefinite-lived Intangible Assets (Excluding Goodwill) 12   12  
Commercial Mortgage Servicing Rights [Member]        
Intangible Assets, Net (Excluding Goodwill) 72 64 66 $ 65
Amortization [1] (8) (11)    
Origination of Mortgage Servicing Rights (MSRs) 14 10    
Servicing Assets at Fair Value, Purchased   0    
Due to changes in inputs or assumptions [2] 0 0    
Servicing Asset at Fair Value, Other Changes in Fair Value [3] 0 0    
Servicing Asset at Fair Value, Disposals 0 $ 0    
Finite-Lived Intangible Assets, Gross [4] 109   95  
Finite-Lived Intangible Assets, Accumulated Amortization [4] (37)   (29)  
Finite-Lived Intangible Assets, Net [4] 72   66  
Fair Value, Recurring [Member]        
Servicing Asset at Fair Value, Amount $ 1,564      
Fair Value, Recurring [Member] | Mortgage Servicing Rights, Fair Value [Member]        
Servicing Asset at Fair Value, Amount     $ 1,983  
[1] Does not include expense associated with community development investments. See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
[2] Primarily reflects changes in option adjusted spreads and prepayment speed assumptions due to changes in interest rates.
[3] Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time.
[4] Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized.
v3.19.3
Goodwill and Other Intangible Assets - Summary of the Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs (Detail) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Document Period End Date Sep. 30, 2019  
Commercial Mortgage Servicing Rights [Member]    
Servicing Asset at Fair Value, Amount $ 80 $ 77
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate 12.00% 12.00%
Decline in fair value from 10% adverse change $ 3 $ 3
Decline in fair value from 20% adverse change $ 6 $ 6
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed 7.00% 5.00%
Decline in fair value from 10% adverse change $ 1 $ 1
Decline in fair value from 20% adverse change $ 2 $ 2
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life 8 years 7 months 6 days 8 years 1 month 6 days
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions used to Estimate Fair Value, Float Earnings Rate 1.10% 1.10%
Mortgage Servicing Rights, Fair Value [Member]    
Servicing Asset at Fair Value, Amount $ 1,564 $ 1,983
Discount rate (annual) 3.00% 2.00%
Decline in fair value from 10% adverse change $ 28 $ 44
Decline in fair value from 20% adverse change $ 56 $ 86
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed 15.00% 13.00%
Decline in fair value from 10% adverse change $ 95 $ 96
Decline in fair value from 20% adverse change $ 180 $ 183
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life 4 years 4 months 24 days 5 years 6 months
Weighted-average coupon 4.00% 4.00%
v3.19.3
Other Assets, Components of Other Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Mutual Fund Investments [1] $ 66 $ 79
Equity Securities, FV-NI [1] 10 16
Federal Reserve Bank Stock [1] 403 403
Federal Home Loan Bank Stock [1] 334 227
Equity Securities without Readily Determinable Fair Value, Amount [1] 84 68
Net Investment in Lease [2] 3,806  
Operating Lease, Right-of-Use Asset [3] 1,110 0
Property Subject to or Available for Operating Lease, Net [3] 1,090 [4],[5] 1,205
Build-to-Suit Lease Assets 993 735
Bank Owned Life Insurance 1,652 1,627
Accrued Investment Income Receivable 1,106 1,106
Receivables from Customers 825 602
Defined Benefit Plan, Funded (Unfunded) Status of Plan 499 484
Prepaid Expense 285 231
Other Real Estate [6] 52 54
Other Assets, Miscellaneous 489 432
Other Assets 10,996 8,991
Tax Credit Investments [Member]    
Other Assets [7] $ 1,998 $ 1,722
[1] Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4, “Trading Assets and Liabilities and Derivative Instruments,” for more information.
[2] Included in LHFS and LHFI on the Company's Consolidated Balance Sheets.
[3] See Note 10, “Leases,” for additional information.
[4] Excludes owned assets subject to operating leases that are held and used by the Company and which are included in Premises, property, and equipment, net, on the Company's Consolidated Balance Sheets.
[5] Included in Other Assets on the Company's Consolidated Balance Sheets.
[6] Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $43 million and $50 million at September 30, 2019 and December 31, 2018, respectively.
[7] See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information
v3.19.3
Other Assets Other Assets, Summary of Net Gains/(Losses) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Equity Securities, FV-NI, Gain (Loss) [1] $ (6) $ (4) $ (3) $ 10
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount 0 0 0 0
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount [1] 16 7 16 30
Equity Securities, FV-NI, Realized Gain (Loss) 0 0 0 0
Equity Securities [Member]        
Unrealized Gain (Loss) on Securities $ 10 $ 3 $ 13 $ 40
[1] Recognized in Other noninterest income in the Company’s Consolidated Statements of Income.
v3.19.3
Leases Lease, Classification (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Lessee, Lease, Description [Line Items]    
Operating Lease, Right-of-Use Asset [1] $ 1,110 $ 0
Finance Lease, Right-of-Use Asset 24  
Operating and Finance Lease, Right-of-Use Asset 1,134  
Operating Lease, Liability 1,189  
Finance Lease, Liability 26  
Operating and Finance Lease Liabilities $ 1,215  
Minimum [Member]    
Lessee, Lease, Description [Line Items]    
Lessee, Operating Lease, Term of Contract 5 years  
Maximum [Member]    
Lessee, Lease, Description [Line Items]    
Lessee, Operating Lease, Term of Contract 10 years  
[1] See Note 10, “Leases,” for additional information.
v3.19.3
Leases Lease, Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Lease, Cost [Abstract]    
Operating Lease, Cost $ 49 $ 152
Finance Lease, Right-of-Use Asset, Amortization 1 3
Variable Lease, Cost 10 27
Sublease Income (1) (4)
Lease, Cost $ 59 $ 178
v3.19.3
Leases Lease, Supplemental Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Operating Lease, Payments $ 47 $ 144
Finance Lease, Interest Payment on Liability 1 1
Finance Lease, Principal Payments 3 5
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 7 30
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability $ 0 $ 11
v3.19.3
Leases Lease, Description (Details)
$ in Millions
Sep. 30, 2019
USD ($)
Lessee, Lease, Description [Line Items]  
Lessee, Leases Not yet Commenced, Estimate $ 100
Operating Lease, Weighted Average Remaining Lease Term 8 years
Finance Lease, Weighted Average Remaining Lease Term 7 years
Operating Lease, Weighted Average Discount Rate, Percent 3.30%
Finance Lease, Weighted Average Discount Rate, Percent 6.60%
Minimum [Member]  
Lessee, Lease, Description [Line Items]  
Lessee, Operating Lease, Term of Contract 5 years
Maximum [Member]  
Lessee, Lease, Description [Line Items]  
Lessee, Operating Lease, Term of Contract 10 years
v3.19.3
Leases Lease, Operating and Finance Lease Maturity (Details)
$ in Millions
Sep. 30, 2019
USD ($)
Operating and Finance Lease Maturity [Abstract]  
Lessee, Operating Lease, Liability, Payments, Due Next Rolling Twelve Months $ 185
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two 194
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three 179
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four 158
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five 140
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five 518
Lessee, Operating Lease, Liability, Payments, Due 1,374
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (185)
Operating Lease, Liability 1,189
Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months 5
Finance Lease, Liability, Payments, Due in Rolling Year Two 5
Finance Lease, Liability, Payments, Due in Rolling Year Three 5
Finance Lease, Liability, Payments, Due in Rolling Year Four 5
Finance Lease, Liability, Payments, Due in Rolling Year Five 3
Finance Lease, Liability, Payments, Due in Rolling after Year Five 11
Finance Lease, Liability, Payment, Due 34
Finance Lease, Liability, Undiscounted Excess Amount (8)
Finance Lease, Liability 26
Operating and Finance Lease, Liability, Payments Due in Next Rolling Twelve Months 190
Operating and Finance Lease, Liability, Payments Due in Rolling Year Two 199
Operating and Finance Lease, Liability, Payments Due in Rolling Year Three 184
Operating and Finance Lease, Liability, Payments Due in Rolling Year Four 163
Operating and Finance Lease, Liability, Payments Due in Rolling Year Five 143
Operating and Finance Lease, Liability, Payments Due in Rolling After Year Five 529
Operating and Finance Lease, Liability, Payments, Due 1,408
Operating and Finance Lease, Liability, Undiscounted Excess Amount (193)
Operating and Finance Lease Liabilities $ 1,215
v3.19.3
Leases Lessor, Classification (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2019
USD ($)
Equipment Financing [Member]  
Lessor, Lease, Description [Line Items]  
Residual Value of Leased Asset $ 106
Equipment Financing [Member] | Minimum [Member]  
Lessor, Lease, Description [Line Items]  
Lessor, Lease, Term of Contract 3 years
Lessor, Lease, Renewal Term 1 month
Equipment Financing [Member] | Maximum [Member]  
Lessor, Lease, Description [Line Items]  
Lessor, Lease, Term of Contract 15 years
Lessor, Lease, Renewal Term 3 years
Structured Real Estate [Member]  
Lessor, Lease, Description [Line Items]  
Residual Value of Leased Asset $ 12
Structured Real Estate [Member] | Minimum [Member]  
Lessor, Lease, Description [Line Items]  
Lessor, Lease, Term of Contract 15 years
Structured Real Estate [Member] | Maximum [Member]  
Lessor, Lease, Description [Line Items]  
Lessor, Lease, Term of Contract 20 years
Lessor, Lease, Renewal Term 20 years
v3.19.3
Leases Lessor, Income (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Lessor, Income [Abstract]    
Sales-type and Direct Financing Leases, Interest Income $ 37 $ 111
Operating Lease, Lease Income, Lease Payments 52 157
Variable Lease, Income 1 3
Lease Income $ 90 $ 271
v3.19.3
Leases Lessor, Net Investment in Lease (Details)
$ in Millions
Sep. 30, 2019
USD ($)
Lessor, Net Investment in Lease [Abstract]  
Sales-type and Direct Financing Leases, Lease Receivable $ 3,657
Sales Type and Direct Finance Lease, Unguaranteed Residual Asset 149
Net Investment in Lease $ 3,806 [1]
[1] Included in LHFS and LHFI on the Company's Consolidated Balance Sheets.
v3.19.3
Leases Lessor, Lease Maturity (Details)
$ in Millions
Sep. 30, 2019
USD ($)
Lessor, Lease Maturity [Abstract]  
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Next Rolling Twelve Months $ 876
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Two 746
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Three 585
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Rolling Year Four 411
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Five 328
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, after Rolling Year Five 1,256
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received 4,202
Lease Receivable Reconciling Items 545 [1]
Sales-type and Direct Financing Leases, Lease Receivable 3,657
Lessor, Operating Lease, Payments to be Received, Next Rolling Twelve Months 191
Lessor, Operating Lease, Payments to be Received, Rolling Year Two 155
Lessor, Operating Lease, Payments to be Received, Rolling Year Three 127
Lessor, Operating Lease, Payments to be Received, Rolling Year Four 95
Lessor, Operating Lease, Payments to be Received, Rolling Year Five 94
Lessor, Operating Lease, Payments to be Received, Thereafter 225
Lessor, Operating Lease, Payments to be Received $ 887
[1] Primarily comprised of interest and guaranteed residual assets.
v3.19.3
Leases Lessor, Underlying Assets Subject Operaing Leases (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Dec. 31, 2018
Property Subject to or Available for Operating Lease [Line Items]      
Property Subject to or Available for Operating Lease, Gross [1] $ 1,655 $ 1,655  
Property Subject to or Available for Operating Lease, Accumulated Depreciation [1] (565) (565)  
Property Subject to or Available for Operating Lease, Net [2] 1,090 [1],[3] 1,090 [1],[3] $ 1,205
Land and Building [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Property Subject to or Available for Operating Lease, Gross [1],[4] 116 116  
Equipment [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Property Subject to or Available for Operating Lease, Gross [1] 1,539 1,539  
Property Subject to Operating Lease [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Depreciation $ 35 $ 106  
Land and Building [Member] | Property Subject to Operating Lease [Member] | Minimum [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Property, Plant and Equipment, Useful Life   15 years  
Land and Building [Member] | Property Subject to Operating Lease [Member] | Maximum [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Property, Plant and Equipment, Useful Life   20 years  
Equipment [Member] | Property Subject to Operating Lease [Member] | Minimum [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Property, Plant and Equipment, Useful Life   2 years  
Equipment [Member] | Property Subject to Operating Lease [Member] | Maximum [Member]      
Property Subject to or Available for Operating Lease [Line Items]      
Property, Plant and Equipment, Useful Life   30 years  
[1] Excludes owned assets subject to operating leases that are held and used by the Company and which are included in Premises, property, and equipment, net, on the Company's Consolidated Balance Sheets.
[2] See Note 10, “Leases,” for additional information.
[3] Included in Other Assets on the Company's Consolidated Balance Sheets.
[4] Includes certain land parcels subject to operating leases that have indefinite lives.
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Loans and Leases Receivable, Gain (Loss) on Sales, Net $ 45   $ 47    
Loans and Leases Receivable, Net Amount 156,756   156,756   $ 150,224
Total liabilities 200,879   200,879   191,263
Long-term Debt [1] 20,369   20,369   15,072
Debt Securities, Trading, and Equity Securities, FV-NI [2] 7,104   7,104   5,506
Amortization of Intangible Assets [3]     9 $ 13  
Variable Interest Entity, Not Primary Beneficiary [Member]          
Investment Tax Credit 25 $ 23 64 62  
Amortization of Intangible Assets 21 19 53 49  
Variable Interest Entity, Primary Beneficiary [Member]          
Long-term Debt 143   143   161
Residential Mortgage [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]          
Loans and Leases Receivable, Gain (Loss) on Sales, Net 108 46 223 53  
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]          
Loans and Leases Receivable, Gain (Loss) on Sales, Net 9 $ 8 28 $ 22  
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member]          
Loans and Leases Receivable, Net Amount 147   147   165
Long-term Debt $ 143   $ 143   $ 161
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member]          
Government Guarantee Percent 98.00%   98.00%   98.00%
Total Return Swap [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]          
Derivative Asset, Notional Amount $ 2,500   $ 2,500   $ 2,000
Debt Securities, Trading, and Equity Securities, FV-NI $ 2,500   $ 2,500   $ 2,000
Death, Disability, Bankruptcy [Member] | Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member]          
Government Guarantee Percent 100.00%   100.00%    
[1] Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
[3] Does not include expense associated with community development investments. See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
v3.19.3
Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement $ 300,875   $ 300,875   $ 299,181
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 2,175   2,175   2,476
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 112 $ 89 295 $ 245  
Commercial Portfolio Segment [Member]          
Principal Amount Outstanding of Loans Held-in-portfolio 85,007   85,007   80,940
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 366   366   175
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 30 42 74 76  
Consumer Portfolio Segment [Member]          
Principal Amount Outstanding of Loans Held-in-portfolio 73,448   73,448   70,899
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 1,627   1,627   2,003
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 82 46 220 164  
Loans and Finance Receivables [Member]          
Principal Amount Outstanding of Loans Held-in-portfolio 158,455   158,455   151,839
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 1,993   1,993   2,178
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 112 88 294 240  
Asset-backed Securities, Securitized Loans and Receivables [Member]          
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 141,906   141,906   146,208
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 121   121   146
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 0 1 1 5  
Loans [Member]          
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement [1] 514   514   1,134
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement [1] 61   61   152
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 0 0 0 0  
Commercial Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member]          
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement [2] 7,391   7,391   6,399
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement [2] 7   7   0
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 0 0 0 0  
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member]          
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 134,515   134,515   139,809
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 114   114   $ 146
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement [3] $ 0 $ 1 $ 1 $ 5  
[1] Comprised of unsecuritized loans the Company originated and sold to private investors with servicing rights retained. Net charge-offs on these loans are not presented in the table as the data is not reported to the Company by the private investors that own these related loans.
[2] Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company.
[3] Amounts associated with $212 million and $387 million of managed securitized loans at September 30, 2019 and December 31, 2018, respectively. Net charge-off data is not reported to the Company for the remaining balance of $134.3 billion and $139.4 billion of managed securitized loans at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Additional Information) (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement $ 300,875 $ 299,181
Asset-backed Securities, Securitized Loans and Receivables [Member]    
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 141,906 146,208
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member]    
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 134,515 139,809
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | STI Sponsored Securitizations [Member]    
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 212 387
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | Managed Securitized Loans [Member]    
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 134,300 139,400
Commercial Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member]    
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement [1] $ 7,391 $ 6,399
[1] Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company.
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities Tax Credit Variable Interest Entities (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Other Assets $ 10,996 $ 8,991
Community Development Investments [Member]    
Other Assets [1] 1,943 1,636
Community Development Investments [Member] | Limited Partner [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]    
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount [2] 2,379 2,207
Renewable Energy Program [Member]    
Other Assets 55 86
Renewable Energy Program [Member] | Limited Partner [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]    
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount [2] $ 241 $ 138
[1] At September 30, 2019 and December 31, 2018, the carrying value of community development investments excludes $67 million and $68 million of investments in funds that do not qualify for tax credits, respectively.
[2] At September 30, 2019 and December 31, 2018, the Company's maximum exposure to loss related to community development investments includes $470 million and $422 million of loans and $593 million and $639 million of unfunded equity commitments, respectively. At September 30, 2019 and December 31, 2018, the Company's maximum exposure to loss related to renewable energy partnerships includes $186 million and $52 million of unfunded equity commitments, respectively.
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities Tax Credit Variable Interest Entities (Additional Information) (Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Limited Partner [Member] - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Community Development Investments [Member]    
Portion of Other Assets Not Qualified for Tax Credits $ (67) $ (68)
Loans Issued by the Company to the Limited Partnerships 470 422
Unfunded Equity Commitment 593 639
Renewable Energy Program [Member]    
Unfunded Equity Commitment $ 186 $ 52
v3.19.3
Certain Transfers of Financial Assets and Variable Interest Entities Community Development Tax Credits and Amortization (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Affordable Housing Tax Credits and Other Tax Benefits, Amount $ 33 $ 28 $ 98 $ 87
Amortization Method Qualified Affordable Housing Project Investments, Amortization 35 29 103 92
Amortization of Intangible Assets [1]     9 13
Variable Interest Entity, Not Primary Beneficiary [Member]        
Investment Tax Credit 25 23 64 62
Amortization of Intangible Assets $ 21 $ 19 $ 53 $ 49
[1] Does not include expense associated with community development investments. See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.
v3.19.3
Reconciliation of Net Income to Net Income Available to Common Shareholders (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net Income (Loss) Attributable to Parent $ 623 $ 752 $ 1,891 $ 2,117
Dividends, Preferred Stock, Cash (26) [1] (26) [2] (77) [1] (81) [2]
Net Income (Loss) Available to Common Stockholders, Basic $ 597 $ 726 $ 1,814 $ 2,036
Weighted Average Number of Shares Outstanding, Basic 443,960 460,252 443,779 464,804
Weighted Average Number of Shares Outstanding, Diluted 446,962 464,164 446,673 469,006
Earnings Per Share, Diluted $ 1.34 $ 1.56 $ 4.06 $ 4.34
Earnings Per Share, Basic $ 1.35 $ 1.58 $ 4.09 $ 4.38
Restricted Stock Units (RSUs) [Member]        
Dilutive securities 2,600 3,000 2,400 2,800
Warrants, options, and restricted stock [Member]        
Dilutive securities 400 900 500 1,400
[1] For the three months ended September 30, 2019, dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock.
For the nine months ended September 30, 2019, dividends were $3,044.44 per share for both Series A and B Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $3,843.75 per share for Series H Preferred Stock.
[2] For the three months ended September 30, 2018, dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock.
For the nine months ended September 30, 2018, dividends were $3,044.44 per share for both Series A and B Preferred Stock, $1,468.75 per share for Series E Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $4,285.07 per share for Series H Preferred Stock.
v3.19.3
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Tax Expense (Benefit) $ 122 $ 95 $ 330 $ 412
Effective Income Tax Rate Reconciliation, Percent 16.00% 11.00% 15.00% 16.00%
Other Tax Expense (Benefit)     $ (56) $ (71)
Tax benefit related to changes in the liability for UTB     33  
Excess Tax Benefit from Share-based Compensation, Financing Activities     12  
Tax benefit related to state income tax true-ups     $ 11  
v3.19.3
Stock-Based Compensation Expense Recognized in Noninterest Expense (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Restricted Stock Unit Expense $ 30 $ 21 $ 84 $ 82
Performance Stock Units Expense [1] 3 10 28 36
Share-based Payment Arrangement, Noncash Expense 33 31 112 118
Share-based Payment Arrangement, Expense, Tax Benefit [2] $ 8 $ 8 $ 27 $ 28
[1] Phantom stock units are settled in cash. During the three and nine months ended September 30, 2019, the Company paid less than $1 million and $44 million, respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2018, the Company paid $1 million and $76 million, respectively, related to these share-based liabilities.
[2] Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income.
v3.19.3
Employee Benefit Plans Stock-Based Compensation Expense Recognized in Noninterest Expense (Additional Information) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Performance Stock Units, Cash Distributions $ 1 $ 1 $ 44 $ 76
v3.19.3
Components of Net Periodic Benefit Cost (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Pension Plan [Member]        
Defined Benefit Plan, Service Cost [1] $ 1 $ 1 $ 4 $ 4
Defined Benefit Plan, Interest Cost 23 23 70 68
Defined Benefit Plan, Expected Return (Loss) on Plan Assets (36) (47) (110) (140)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) 0 0 0 0
Defined Benefit Plan, Amortization of Gain (Loss) 6 6 18 17
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) (6) (17) (18) (51)
Other Postretirement Benefits Plan [Member]        
Defined Benefit Plan, Service Cost 0 0 0 0
Defined Benefit Plan, Interest Cost 0 0 1 1
Defined Benefit Plan, Expected Return (Loss) on Plan Assets (1) (1) (4) (4)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) (1) (2) (4) (5)
Defined Benefit Plan, Amortization of Gain (Loss) 0 0 0 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ (2) $ (3) $ (7) $ (8)
[1] Administrative fees are recognized in service cost for each of the periods presented.
v3.19.3
Guarantees - Additional Information (Details) - USD ($)
shares in Millions, $ in Millions
 1 Months Ended
May 31, 2009
Sep. 30, 2019
Dec. 31, 2018
Derivative Liability, Fair Value, Gross Asset   $ 1,750 $ 1,654
Standby Letters of Credit [Member]      
Guarantor Obligations, Maximum Exposure, Undiscounted   2,600 2,900
Visa Interest [Member]      
Derivative Liability, Fair Value, Gross Asset   8 7
Not Designated as Hedging Instrument [Member] | Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member]      
Number Of Shares Sold To Selected Financial Institutions 3.2    
Guarantee of Indebtedness of Others [Member]      
Guarantor Obligations, Maximum Exposure, Undiscounted   1,200 1,000
Loss Contingency Related Loans Unpaid Principal Balance   3,900 3,500
Loss Contingency Accrual, at Carrying Value   $ 7 $ 5
v3.19.3
Guarantees Mortgage Loans Repurchase Reserve Rollforward (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Dec. 31, 2017
Guarantees [Abstract]                
Reserve For Mortgage Loan Repurchase Losses $ 22 $ 36 $ 22 $ 36 $ 23 $ 26 $ 36 $ 39
Mortgage Repurchase Reserve, Provision for Mortgage Loan Repurchase Losses (1) 1 (4) (2)        
Charge Offs For Mortgage Loan Repurchase Losses $ 0 $ (1) $ 0 $ (1)        
v3.19.3
Guarantees Repurchased Mortgage Loan (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Repurchased mortgage loans, carrying value $ 144 $ 199
Performing Financial Instruments [Member] | Loans Held-For-Investment [Member]    
Repurchased mortgage loans, carrying value 135 183
Nonperforming Financing Receivable [Member] | Loans Held-For-Investment [Member]    
Repurchased mortgage loans, carrying value $ 9 $ 16
v3.19.3
Derivative Financial Instruments - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Derivative Liability, Fair Value, Gross Liability $ 3,031   $ 3,031   $ 2,716
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net 158   158    
Derivative Asset, Fair Value, Gross Asset 3,878   3,878   2,631
Netted counterparty balance [Member]          
Fair Value, Concentration of Risk, Derivative Instruments, Assets 1,400   1,400   541
Derivative Asset, Fair Value of Collateral 374   374   350
Netted counterparty balance gains [Member]          
Fair Value, Concentration of Risk, Derivative Instruments, Assets 1,800   1,800   891
Derivative liability positions containing provisions conditioned on downgrades [Member]          
Derivative Liability, Fair Value, Gross Liability 1,400   1,400   $ 589
Additional Termination Event [Member]          
Derivative Liability, Fair Value, Gross Liability 1   1    
Additional Termination Event [Member] | Maximum [Member]          
Derivative Liability, Fair Value, Gross Liability 19   19    
Credit Support Annex [Member]          
Derivative Liability, Fair Value, Gross Liability 1,400   1,400    
Collateral Already Posted, Aggregate Fair Value 958   958    
Credit Support Annex [Member] | Moody's, Baa3 Rating [Member]          
Additional Collateral, Aggregate Fair Value 1   1    
Credit Support Annex [Member] | Moody's, Ba1 Rating [Member]          
Additional Collateral, Aggregate Fair Value 8   $ 8    
Financial Guarantee [Member]          
Derivative, Average Remaining Maturity     6 years   5 years 10 months 24 days
Credit Derivative, Maximum Exposure, Undiscounted 281   $ 281   $ 217
Financial Guarantee [Member] | Minimum [Member]          
Derivative, Remaining Maturity     1 year   1 year
Financial Guarantee [Member] | Maximum [Member]          
Derivative, Remaining Maturity     11 years   10 years
Interest Rate Contract [Member] | Cash Flow Hedging [Member]          
Derivative, Average Remaining Maturity     3 years 3 months 18 days   2 years 6 months
Interest Rate Contract [Member] | Minimum [Member] | Cash Flow Hedging [Member]          
Derivative, Remaining Maturity     1 year   1 year
Interest Rate Contract [Member] | Maximum [Member] | Cash Flow Hedging [Member]          
Derivative, Remaining Maturity     7 years   5 years
Interest Income [Member] | Loans Held-For-Investment [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]          
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax $ 61 $ (48) $ 266 $ (274)  
v3.19.3
Derivative Positions (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Derivative, Notional Amount $ 261,398 $ 233,052
Derivative Asset, Fair Value, Gross Asset 3,878 2,631
Derivative Liability, Fair Value, Gross Liability 3,031 2,716
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 3,878 2,631
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 3,031 2,716
Derivative, Fair Value, Amount Offset Against Collateral, Net (1,750) (1,654)
Derivative Liability, Fair Value, Gross Asset 1,750 1,654
Derivative Asset, Collateral, Obligation to Return Cash, Offset (358) (338)
Derivative Liability, Collateral, Right to Reclaim Cash, Offset (1,007) (652)
Derivative Asset [1] 1,770 639
Derivative Liability [2] 274 410
Not Designated as Hedging Instrument [Member]    
Derivative, Notional Amount [3] 234,018 212,943
Derivative Asset, Fair Value, Gross Asset [3] 3,878 2,629
Derivative Liability, Fair Value, Gross Liability [3] 3,030 2,713
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]    
Derivative, Notional Amount [3] 11,954 9,824
Derivative Asset, Fair Value, Gross Asset [3] 185 129
Derivative Liability, Fair Value, Gross Liability [3] 182 119
Not Designated as Hedging Instrument [Member] | Equity Contract [Member]    
Derivative, Notional Amount [3],[4] 36,181 34,471
Derivative Asset, Fair Value, Gross Asset [3],[4] 1,774 1,447
Derivative Liability, Fair Value, Gross Liability [3],[4] 1,939 1,644
Not Designated as Hedging Instrument [Member] | Other Contract [Member]    
Derivative, Notional Amount [3],[5] 3,763 1,393
Derivative Asset, Fair Value, Gross Asset [3],[5] 28 20
Derivative Liability, Fair Value, Gross Liability [3],[5] 11 15
Not Designated as Hedging Instrument [Member] | Commodity [Member]    
Derivative, Notional Amount [3] 2,491 2,020
Derivative Asset, Fair Value, Gross Asset [3] 94 93
Derivative Liability, Fair Value, Gross Liability [3] 91 91
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Mortgage Servicing Rights [Member]    
Derivative, Notional Amount [3],[6] 19,300 28,011
Derivative Asset, Fair Value, Gross Asset [3],[6] 43 54
Derivative Liability, Fair Value, Gross Liability [3],[6] 24 10
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Sale [Member]    
Derivative, Notional Amount [3],[7] 6,688 4,891
Derivative Asset, Fair Value, Gross Asset [3],[7] 10 18
Derivative Liability, Fair Value, Gross Liability [3],[7] 12 38
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member]    
Derivative, Notional Amount [3] 102 159
Derivative Asset, Fair Value, Gross Asset [3] 0 0
Derivative Liability, Fair Value, Gross Liability [3] 0 0
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Trading [Member]    
Derivative, Notional Amount [3],[4] 147,485 127,286
Derivative Asset, Fair Value, Gross Asset [3],[4] 1,706 771
Derivative Liability, Fair Value, Gross Liability [3],[4] 709 687
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Loans Held-For-Investment [Member]    
Derivative, Notional Amount [3] 918 830
Derivative Asset, Fair Value, Gross Asset [3] 0 0
Derivative Liability, Fair Value, Gross Liability [3] 28 14
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Other Trading [Member]    
Derivative, Notional Amount [3],[8] 5,136 4,058
Derivative Asset, Fair Value, Gross Asset [3],[8] 38 97
Derivative Liability, Fair Value, Gross Liability [3],[8] 34 95
Cash Flow Hedging [Member] | Interest Rate Contract [Member]    
Derivative, Notional Amount [9] 15,225 10,500
Derivative Asset, Fair Value, Gross Asset [9] 0 1
Derivative Liability, Fair Value, Gross Liability [9] 1 2
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member]    
Derivative, Notional Amount [9] 15,225 10,500
Derivative Asset, Fair Value, Gross Asset [9] 0 1
Derivative Liability, Fair Value, Gross Liability [9] 1 2
Fair Value Hedging [Member] | Interest Rate Contract [Member]    
Derivative, Notional Amount [10] 12,155 9,609
Derivative Asset, Fair Value, Gross Asset [10] 0 1
Derivative Liability, Fair Value, Gross Liability [10] 0 1
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Fixed Income Interest Rate [Member]    
Derivative, Notional Amount [10] 12,155 9,550
Derivative Asset, Fair Value, Gross Asset [10] 0 1
Derivative Liability, Fair Value, Gross Liability [10] 0 1
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member]    
Derivative, Notional Amount [10] 0 59
Derivative Asset, Fair Value, Gross Asset [10] 0 0
Derivative Liability, Fair Value, Gross Liability [10] $ 0 $ 0
[1] At September 30, 2019, $1.8 billion, net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $639 million, net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
[2] At September 30, 2019, $274 million, net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $410 million, net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
[3]
See “Economic Hedging Instruments and Trading Activities” in this Note for further discussion.
[4]
Notional amounts include $2.7 billion and $1.2 billion related to interest rate futures at September 30, 2019 and December 31, 2018, and $210 million and $136 million related to equity futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Notional amounts also include amounts related to interest rate swaps hedging fixed rate debt.
[5]
Notional amounts include $41 million related to the Visa derivative liability at both September 30, 2019 and December 31, 2018. See Note 15, "Guarantees" for additional information.
[6]
Notional amounts include $753 million and $921 million related to interest rate futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.
[7]
Notional amounts include $53 million and $116 million related to interest rate futures at September 30, 2019 and December 31, 2018, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table.
[8]
Notional amounts include $9 million and $6 million from purchased credit risk participation agreements at September 30, 2019 and December 31, 2018, and $41 million and $33 million from written credit risk participation agreements at September 30, 2019 and December 31, 2018, respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
[9]
See “Cash Flow Hedging” in this Note for further discussion.
[10]
See “Fair Value Hedging” in this Note for further discussion.
v3.19.3
Derivative Positions (Additional Information) (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Derivative, Notional Amount $ 261,398 $ 233,052
Credit Risk Contract [Member]    
Derivative Asset, Notional Amount 9 6
Derivative Liability, Notional Amount 41 33
Other Contract [Member] | Visa Interest [Member]    
Derivative Liability, Notional Amount 41 41
Interest rate futures [Member] | Mortgage Servicing Rights [Member]    
Derivative, Notional Amount 753 921
Interest rate futures [Member] | Loans Held-For-Sale [Member]    
Derivative, Notional Amount 53 116
Interest rate futures [Member] | Other Trading [Member]    
Derivative, Notional Amount 2,700 1,200
Equity Futures [Member] | Equity Contract [Member]    
Derivative, Notional Amount $ 210 $ 136
v3.19.3
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Derivative [Line Items]    
Document Period End Date Sep. 30, 2019  
Derivative Asset, Fair Value, Gross Asset $ 3,878 $ 2,631
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 3,878 2,631
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 2,108 1,992
Derivative Asset [1] 1,770 639
Derivative, Collateral, Obligation to Return Securities 16 12
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 1,754 627
Derivative Liability, Fair Value, Gross Liability 3,031 2,716
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 3,031 2,716
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 2,757 2,306
Derivative Liability [2] 274 410
Derivative, Collateral, Right to Reclaim Securities 31 14
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 243 396
Derivatives Subject to Master Netting Arrangement or Similar Arrangement [Member]    
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset 3,269 2,425
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 1,973 1,873
Derivative Asset 1,296 552
Derivative, Collateral, Obligation to Return Securities 15 12
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 1,281 540
Derivative Liability, Fair Value, Gross Liability 2,787 2,521
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 2,622 2,187
Derivative Liability 165 334
Derivative, Collateral, Right to Reclaim Securities 18 14
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 147 320
Derivatives Not Subject to Master Netting Arrangement or Similar Arrangement [Member] [Member]    
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset 143 20
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 0 0
Derivative Asset 143 20
Derivative, Collateral, Obligation to Return Securities 1 0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 142 20
Derivative Liability, Fair Value, Gross Liability 109 76
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 0 0
Derivative Liability 109 76
Derivative, Collateral, Right to Reclaim Securities 13 0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 96 76
Exchange Traded [Member]    
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset 466 186
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 135 119
Derivative Asset 331 67
Derivative, Collateral, Obligation to Return Securities 0 0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 331 67
Derivative Liability, Fair Value, Gross Liability 135 119
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 135 119
Derivative Liability 0 0
Derivative, Collateral, Right to Reclaim Securities 0 0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral $ 0 $ 0
[1] At September 30, 2019, $1.8 billion, net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $639 million, net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
[2] At September 30, 2019, $274 million, net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $410 million, net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
v3.19.3
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Additional Information) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Derivative [Line Items]    
Document Period End Date Sep. 30, 2019  
Derivative Asset [1] $ 1,770 $ 639
Derivative Asset, Collateral, Obligation to Return Cash, Offset 358 338
Derivative Liability [2] 274 410
Derivative Liability, Collateral, Right to Reclaim Cash, Offset (1,007) (652)
Trading Assets [Member]    
Derivative [Line Items]    
Derivative Asset 1,800 639
Derivative Liability, Collateral, Right to Reclaim Cash, Offset (1,000)  
Trading Liabilities [Member]    
Derivative [Line Items]    
Derivative Liability $ 274 $ 410
[1] At September 30, 2019, $1.8 billion, net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $639 million, net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
[2] At September 30, 2019, $274 million, net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018, $410 million, net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
v3.19.3
Derivative Financial Instruments Derivative Instruments, Gain (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]        
Interest and Fee Income, Loans and Leases Held-in-portfolio $ 1,708 $ 1,549 $ 5,125 $ 4,424
Interest Expense, Long-term Debt (150) (95) (425) (252)
Interest Expense, Deposits (293) (193) (811) (484)
Trading Gain (Loss) 29 42 144 137
Total Amounts of Line Items Presented in the Consolidated Statements of Income 1,558 1,454 4,700 4,172
Loans Held-For-Investment [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Interest and Fee Income, Loans and Leases Held-in-portfolio 1,708 1,549 5,125 4,424
Long-term Debt [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Interest Expense, Long-term Debt (150) (95) (425) (252)
Fair Value Hedging [Member] | Interest Rate Contract [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Amounts Related to Interest Settlements on Derivatives (1) (2) (10) 1
Derivative, Gain (Loss) on Derivative, Net 43 (33) 267 (130)
Gain (Loss) on Fair Value Hedges Recognized in Earnings (47) 31 (282) 124
Net Income (Expense) Recognized on Hedges (5) (4) (25) (7)
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Amounts Related to Interest Settlements on Derivatives 0 0 0 0
Derivative, Gain (Loss) on Derivative, Net 0 0 0 0
Gain (Loss) on Fair Value Hedges Recognized in Earnings 0 0 0 0
Net Income (Expense) Recognized on Hedges 0 0 0 0
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Amounts Related to Interest Settlements on Derivatives (1) (2) (10) 1
Derivative, Gain (Loss) on Derivative, Net 43 (33) 267 (130)
Gain (Loss) on Fair Value Hedges Recognized in Earnings [1] (47) 31 (282) 124
Net Income (Expense) Recognized on Hedges (5) (4) (25) (7)
Cash Flow Hedging [Member] | Interest Rate Contract [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (46) (22) (129) (39)
Net Income (Expense) Recognized on Hedges (46) (22) (129) (39)
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [2] (46) (22) (129) (39)
Net Income (Expense) Recognized on Hedges (46) (22) (129) (39)
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net 0 0 0 0
Net Income (Expense) Recognized on Hedges $ 0 $ 0 $ 0 $ 0
[1] Includes amortization from de-designated fair value hedging relationships.
[2] These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.
v3.19.3
Derivative Financial Instruments Hedged Items in Fair Value Hedging Relationships (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Document Period End Date Sep. 30, 2019  
Fair Value Hedging [Member] | Long-term Debt [Member]    
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Carrying Amount of Assets $ 11,295,000,000 $ 8,411,000,000
Fair Value Hedging [Member] | Long-term Debt [Member] | Designated as Hedging Instrument [Member]    
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Hedged Asset, Cumulative Basis Adjustment 180,000,000 (10,000,000)
Fair Value Hedging [Member] | Long-term Debt [Member] | Not Designated as Hedging Instrument [Member]    
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Hedged Asset, Cumulative Basis Adjustment $ (28,000,000) (120,000,000)
Fair Value Hedging [Member] | Brokered Time Deposits [Member]    
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Carrying Amount of Assets   29,000,000
Fair Value Hedging [Member] | Brokered Time Deposits [Member] | Designated as Hedging Instrument [Member]    
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Hedged Asset, Cumulative Basis Adjustment   0
Fair Value Hedging [Member] | Brokered Time Deposits [Member] | Not Designated as Hedging Instrument [Member]    
Hedged Items in Fair Value Hedging Relationships [Line Items]    
Hedged Asset, Cumulative Basis Adjustment   $ 0
v3.19.3
Derivative Financial Instruments Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) (Details) - Not Designated as Hedging Instrument [Member] - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ 245 $ 9 $ 608 $ 5
Interest Rate Contract [Member] | Mortgage Related Income [Member] | Mortgage Servicing Rights [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 166 (54) 436 (210)
Interest Rate Contract [Member] | Mortgage Related Income [Member] | Loans Held-For-Sale [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net (31) 10 (76) 57
Interest Rate Contract [Member] | Other Income [Member] | Loans Held-For-Investment [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net (1) 1 (4) 3
Interest Rate Contract [Member] | Other Trading [Member] | Other Trading [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 1 18 22 48
Foreign Exchange Contract [Member] | Other Trading [Member] | Other Trading [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 39 9 46 49
Credit Risk Contract [Member] | Other Income [Member] | Loans Held-For-Investment [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net (1) (5) (16) (5)
Credit Risk Contract [Member] | Other Trading [Member] | Other Trading [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 7 5 20 16
Equity Contract [Member] | Other Trading [Member] | Other Trading [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 6 6 34 8
Other Contract [Member] | Other Trading [Member] | Commodity Contract [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 1 0 2 0
Other Contract [Member] | Mortgage Related and Commercial Real Estate Related Income [Member] | Interest Rate Lock Commitments [Member]        
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ 58 $ 19 $ 144 $ 39
v3.19.3
Derivative Financial Instruments Credit Derivative Instruments - TRS Contracts (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Credit Derivative Instruments - TRS Contracts [Line Items]    
Derivative, Notional Amount $ 261,398 $ 233,052
Derivative Asset, Fair Value, Gross Asset 3,878 2,631
Derivative Liability, Fair Value, Gross Liability 3,031 2,716
Total Return Swap [Member]    
Credit Derivative Instruments - TRS Contracts [Line Items]    
Derivative, Notional Amount 2,543 2,009
Derivative Asset, Fair Value, Gross Asset 38 97
Derivative Liability, Fair Value, Gross Liability 34 94
Collateral Already Posted, Aggregate Fair Value $ 635 $ 601
v3.19.3
Fair Value Measurement and Election - Additional Information (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Unfunded loan commitments and letters of credit $ 76,200 $ 72,000
Allowance for unfunded loan commitments and letters of credit $ 76 $ 72
v3.19.3
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI [1] $ 7,104 $ 5,506
Available-for-sale Securities [2] 31,358 31,442
Loans Receivable, Fair Value Disclosure 124 163
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 764 521
Available-for-sale Securities 4,018 4,211
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans Receivable, Fair Value Disclosure 0 0
Other Assets, Fair Value Disclosure [3] 76 95
Trading Liabilities, Fair Value Disclosure 693 925
Long-term Debt, Fair Value 0 0
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 6,313 4,965
Available-for-sale Securities 27,340 27,231
Loans Held-for-sale, Fair Value Disclosure 1,488 1,178
Loans Receivable, Fair Value Disclosure 0 0
Other Assets, Fair Value Disclosure 0 0
Trading Liabilities, Fair Value Disclosure 677 672
Long-term Debt, Fair Value 302 289
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 27 20
Available-for-sale Securities 0 0
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans Receivable, Fair Value Disclosure 124 163
Other Assets, Fair Value Disclosure 0 0
Trading Liabilities, Fair Value Disclosure 10 7
Long-term Debt, Fair Value 0 0
Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 7,104 5,506
Available-for-sale Securities 31,358 31,442
Loans Held-for-sale, Fair Value Disclosure 1,488 1,200
Loans Receivable, Fair Value Disclosure 124 163
Servicing Asset at Fair Value, Amount 1,564  
Other Assets, Fair Value Disclosure 76 95
Trading Liabilities, Fair Value Disclosure 1,380 1,604
Long-term Debt, Fair Value 302 289
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 764 521
Available-for-sale Securities 4,018 4,211
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans Receivable, Fair Value Disclosure 0 0
Servicing Asset at Fair Value, Amount 0 0
Other Assets, Fair Value Disclosure 76 95
Trading Liabilities, Fair Value Disclosure 693 925
Long-term Debt, Fair Value 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 8,421 6,957
Available-for-sale Securities 27,340 27,231
Loans Held-for-sale, Fair Value Disclosure 1,488 1,178
Loans Receivable, Fair Value Disclosure 0 0
Servicing Asset at Fair Value, Amount 0 0
Other Assets, Fair Value Disclosure 0 0
Trading Liabilities, Fair Value Disclosure 3,434 2,978
Long-term Debt, Fair Value 302 289
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 27 20
Available-for-sale Securities 0 0
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans Receivable, Fair Value Disclosure 124 163
Servicing Asset at Fair Value, Amount 1,564 1,983
Other Assets, Fair Value Disclosure 0 0
Trading Liabilities, Fair Value Disclosure 10 7
Long-term Debt, Fair Value 0 0
US Treasury Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 212 262
Available-for-sale Securities 4,018 4,211
Trading Liabilities, Fair Value Disclosure 538 801
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 212 262
Available-for-sale Securities 4,018 4,211
Trading Liabilities, Fair Value Disclosure 538 801
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure   3
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure   0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure   3
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure   0
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 319 188
Available-for-sale Securities 124 221
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 319 188
Available-for-sale Securities 124 221
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 43 54
Available-for-sale Securities 572 589
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 43 54
Available-for-sale Securities 572 589
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
Other Debt Obligations [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 628 700
Available-for-sale Securities 12 14
Trading Liabilities, Fair Value Disclosure 539 385
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 628 700
Available-for-sale Securities 12 14
Trading Liabilities, Fair Value Disclosure 539 385
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Available-for-sale Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Commercial Paper [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 122 190
Commercial Paper [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Commercial Paper [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 122 190
Commercial Paper [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Equity Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 86 73
Trading Liabilities, Fair Value Disclosure 20 5
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 86 73
Trading Liabilities, Fair Value Disclosure 20 5
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Derivative Financial Instruments, Assets [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 1,770 639
Derivative Financial Instruments, Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 466 186
Derivative Financial Instruments, Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 3,385 2,425
Derivative Financial Instruments, Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 27 20
Trading Loans [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 2,862 [4] 2,540 [5]
Trading Liabilities, Fair Value Disclosure 9  
Trading Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Trading Liabilities, Fair Value Disclosure 0  
Trading Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 2,862 [4] 2,540 [5]
Trading Liabilities, Fair Value Disclosure 9  
Trading Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0 0
Trading Liabilities, Fair Value Disclosure 0  
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure 274 410
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure 135 119
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure 2,886 2,590
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure 10 7
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 0 0
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 552 403
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 0 0
Brokered Time Deposits [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 552 403
Brokered Time Deposits [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 0 0
Brokered Time Deposits [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 552 403
Brokered Time Deposits [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 0 0
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI (2,108) [6] (1,992) [7]
Trading Liabilities, Fair Value Disclosure (2,757) [6] (2,306) [7]
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member] | Derivative Financial Instruments, Assets [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI (2,108) [6] (1,992) [7]
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member] | Derivative Financial Instruments, Liabilities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure (2,757) [6] (2,306) [7]
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI   860
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI   0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI   860
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI   0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 22,585 22,864
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 1,004 860
Available-for-sale Securities 22,585 22,864
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0  
Available-for-sale Securities 0 0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 1,004  
Available-for-sale Securities 22,585 22,864
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0  
Available-for-sale Securities 0 0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 2,983 2,627
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 51 0
Available-for-sale Securities 2,983 2,627
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0  
Available-for-sale Securities 0 0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 51  
Available-for-sale Securities 2,983 2,627
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Trading, and Equity Securities, FV-NI 0  
Available-for-sale Securities 0 0
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,064 916
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,064 916
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,064 916
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities $ 0 $ 0
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively.
[3] Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values.
[4] At September 30, 2019, includes $2.5 billion of loans related to the Company’s TRS business, $70 million of loans related to the Company’s loan sales and trading business held in inventory, and $227 million of loans backed by the SBA held in inventory.
[5] At December 31, 2018, includes $2.0 billion of loans related to the Company’s TRS business, $137 million of loans related to the Company’s loan sales and trading business held in inventory, and $366 million of loans backed by the SBA loans held in inventory, measured at fair value.
[6] Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16, “Derivative Financial Instruments,” for additional information.
[7] Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16, “Derivative Financial Instruments,” for additional information.
v3.19.3
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Additional Information) (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Debt Securities, Trading, and Equity Securities, FV-NI [1] $ 7,104 $ 5,506
Fair Value, Inputs, Level 2 [Member]    
Debt Securities, Trading, and Equity Securities, FV-NI 6,313 4,965
Total Return Swap [Member] | Trading Loans [Member] | Fair Value, Inputs, Level 2 [Member]    
Debt Securities, Trading, and Equity Securities, FV-NI 2,500 2,000
Commercial and Corporate Leveraged Loans [Member] | Trading Loans [Member] | Fair Value, Inputs, Level 2 [Member]    
Debt Securities, Trading, and Equity Securities, FV-NI 70 137
SBA Loans [Member] | Trading Loans [Member] | Fair Value, Inputs, Level 2 [Member]    
Debt Securities, Trading, and Equity Securities, FV-NI $ 227 $ 366
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance (Detail) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Debt Securities, Trading, and Equity Securities, FV-NI [1] $ 7,104 $ 5,506
Loans Receivable, Fair Value Disclosure 124 163
Trading Loans [Member]    
Debt Securities, Trading, and Equity Securities, FV-NI 2,862 2,540
Aggregate Unpaid Principal Balance Under the Fair Value Option (2,779) (2,526)
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables 83 14
Trading Liabilities, Fair Value Disclosure 9  
Aggregate Unpaid Principal Balance Under the Fair Value Option, Liabilities 9  
Fair Value Option, Aggregate Differences, Liabilities 0  
Loans Held-For-Sale [Member] | Performing Financial Instruments [Member]    
Loans Held-for-sale, Fair Value Disclosure 1,488 1,178
Aggregate Unpaid Principal Balance Under the Fair Value Option (1,446) (1,128)
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables 42 50
Loans Held-For-Investment [Member] | Performing Financial Instruments [Member]    
Loans Receivable, Fair Value Disclosure 121 158
Aggregate Unpaid Principal Balance Under the Fair Value Option (119) (163)
Fair Value, Option, Loans Held as Assets, Aggregate Difference 2 (5)
Loans Held-For-Investment [Member] | Nonperforming Financing Receivable [Member]    
Loans Receivable, Fair Value Disclosure 3 5
Aggregate Unpaid Principal Balance Under the Fair Value Option (4) (6)
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status, Aggregated Difference (1) (1)
Brokered Time Deposits [Member]    
Obligations, Fair Value Disclosure 552 403
Aggregate Unpaid Principal Balance Under the Fair Value Option, Liabilities 539 403
Fair Value Option, Aggregate Differences, Liabilities 13 0
Long-term Debt [Member]    
Obligations, Fair Value Disclosure 302 289
Aggregate Unpaid Principal Balance Under the Fair Value Option, Liabilities 290 286
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments $ 12 $ 3
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
v3.19.3
Change in Fair Value of Financial Instruments for which the FVO has been Elected (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Trading Loans [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) $ (1) [1],[2] $ 3 [3],[4] $ 18 [1],[2] $ 10 [3],[4]
Trading Loans [Member] | Trading Revenue [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (1) [2] 3 [4] 18 [2] 10 [4]
Trading Loans [Member] | Mortgage Related Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [5] 0 [6] 0 [5] 0 [6]
Trading Loans [Member] | Other Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Loans Held-For-Sale [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 40 [1],[7] 5 [3],[8] 80 [1],[7] (3) [3],[8]
Loans Held-For-Sale [Member] | Trading Revenue [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Loans Held-For-Sale [Member] | Mortgage Related Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 40 [5],[7] 5 [6],[8] 80 [5],[7] (3) [6],[8]
Loans Held-For-Sale [Member] | Other Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Loans Held-For-Investment [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 2 [1] 1 [3] 5 [1] (4) [3]
Loans Held-For-Investment [Member] | Trading Revenue [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Loans Held-For-Investment [Member] | Mortgage Related Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [5] 0 [6] 0 [5] 0 [6]
Loans Held-For-Investment [Member] | Other Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 2 1 5 (4)
Mortgage Servicing Rights [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (250) [1] (8) [3] (650) [1] 22 [3]
Mortgage Servicing Rights [Member] | Trading Revenue [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Mortgage Servicing Rights [Member] | Mortgage Related Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (250) [5] (8) [6] (650) [5] 22 [6]
Mortgage Servicing Rights [Member] | Other Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Brokered Time Deposits [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (3) [1] 4 [3] (24) [1] 6 [3]
Brokered Time Deposits [Member] | Trading Revenue [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (3) 4 (24) 6
Brokered Time Deposits [Member] | Mortgage Related Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [5] 0 [6] 0 [5] 0 [6]
Brokered Time Deposits [Member] | Other Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0 0 0
Long-term Debt [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (2) [1] 1 [3] (15) [1] 6 [3]
Long-term Debt [Member] | Trading Revenue [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) (2) 1 (15) 6
Long-term Debt [Member] | Mortgage Related Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [5] 0 [6] 0 [5] 0 [6]
Long-term Debt [Member] | Other Income [Member]        
Fair Value, Option, Changes in Fair Value, Gain (Loss) $ 0 $ 0 $ 0 $ 0
[1] Changes in fair value for the three and nine months ended September 30, 2019 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.
[2] Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2019.
[3] Changes in fair value for the three and nine months ended September 30, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income.
[4] Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2018.
[5] Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2019, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
[6] Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2018, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
[7] Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2019.
[8] Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2018.
v3.19.3
Fair Value Election and Measurement Level 3 Significant Unobservable Input Assumptions (Details)
$ in Millions
Sep. 30, 2019
USD ($)
Dec. 31, 2018
USD ($)
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure $ 124 $ 163
Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure 124 163
Fair Value, Recurring [Member]    
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure 124 163
Servicing Asset at Fair Value, Amount 1,564  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure 124 163
Servicing Asset at Fair Value, Amount 1,564 1,983
Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative, Fair Value, Net 17 [1] 13 [2]
Loans Receivable, Fair Value Disclosure 3 5
Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure 121 158
Servicing Asset at Fair Value, Amount $ 1,564 $ 1,983
Pull Through Rate [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative Asset (Liability) Net, Measurement Input 0.02 0.41
Pull Through Rate [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative Asset (Liability) Net, Measurement Input 1.00 1.00
Pull Through Rate [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative Asset (Liability) Net, Measurement Input 0.83 0.81
MSR Value [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative Asset (Liability) Net, Measurement Input 0.0021 0.0011
MSR Value [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative Asset (Liability) Net, Measurement Input 0.0155 0.0165
MSR Value [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative Asset (Liability) Net, Measurement Input 0.0102 0.0108
Measurement Input, Credit Spread [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.0062 0.0000
Servicing Asset, Measurement Input 0.01 0.00
Measurement Input, Credit Spread [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.025 0.0250
Servicing Asset, Measurement Input 0.29 1.16
Measurement Input, Credit Spread [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.0172 0.0164
Servicing Asset, Measurement Input 0.03 0.02
Measurement Input, Prepayment Rate [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.0702 0.07
Servicing Asset, Measurement Input 0.06 0.06
Measurement Input, Prepayment Rate [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.31 0.22
Servicing Asset, Measurement Input 0.31 0.30
Measurement Input, Prepayment Rate [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.161 0.1239
Servicing Asset, Measurement Input 0.15 0.13
Measurement Input, Default Rate [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.00 0.00
Measurement Input, Default Rate [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.02 0.01
Measurement Input, Default Rate [Member] | Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Held-For-Investment, Measurement Input 0.0051 0.0063
[1] Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K, for a discussion of valuation assumptions related to the Visa derivative liability.
[2] Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company’s sale of Visa shares. Refer to the “Trading Liabilities and Derivative Instruments” section in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K, for a discussion of valuation assumptions related to the Visa derivative liability.
v3.19.3
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Dec. 31, 2017
Derivative contracts, net [Member]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value $ 17 $ 3 $ 17 $ 3 $ 24 $ 13 $ 3 $ 0
Included in earnings 60 [1] 18 [2] 147 [1] 36 [2]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 0 0 0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0 0 0        
Sales 0 0 0 0        
Settlements (3) (8) (5) (10)        
Transfers to other balance sheet line items (64) [3] (26) [4] (138) [3] (43) [4]        
Transfers into Level 3 0 0 0 0        
Transferred Out of Level 3 in The Fair Value Hierarchy 0 0 0 0        
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) 23 10 23 7        
Mortgage-backed Securities, Issued by Private Enterprises [Member]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value   0   0       59
Included in earnings       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases       0        
Sales       0        
Settlements       (2)        
Transfers to other balance sheet line items       0        
Transfers into Level 3       0        
Transferred Out of Level 3 in The Fair Value Hierarchy       (57)        
Asset-backed Securities [Member]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value   0   0       8
Included in earnings       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases       0        
Sales       0        
Settlements       (1)        
Transfers to other balance sheet line items       0        
Transfers into Level 3       0        
Transferred Out of Level 3 in The Fair Value Hierarchy       (7)        
Corporate Debt Securities [Member]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value   0   0       5
Included in earnings       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases       0        
Sales       0        
Settlements       0        
Transfers to other balance sheet line items       0        
Transfers into Level 3       0        
Transferred Out of Level 3 in The Fair Value Hierarchy       (5)        
Available-for-sale Securities [Member]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value   0   0       72
Included in earnings       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)       0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases       0        
Sales       0        
Settlements       (3)        
Transfers to other balance sheet line items       0        
Transfers into Level 3       0        
Transferred Out of Level 3 in The Fair Value Hierarchy       (69)        
Loans Held-For-Investment [Member]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 124 168 124 168 $ 127 $ 163 $ 177 $ 196
Included in earnings 2 [5] 0 [6] 5 [5] (3) [6]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 0 0 0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0 0 0        
Sales 0 0 0 0        
Settlements (6) (9) (21) (26)        
Transfers to other balance sheet line items 0 0 0 0        
Transfers into Level 3 1 0 2 1        
Transferred Out of Level 3 in The Fair Value Hierarchy 0 0 (25) 0        
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) 3 0 5 (4)        
Interest Rate Lock Commitments [Member]                
Transferred Out of Level 3 in The Fair Value Hierarchy $ (64) $ 26 $ (138) $ 43        
[1] Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage-related income, amount related to commercial IRLCs is recognized in Commercial real estate-related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $23 million in earnings during both the three and nine months ended September 30, 2019, related to changes in unrealized gains on net derivative instruments still held at September 30, 2019.
[2] Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage-related income, amount related to commercial IRLCs is recognized in Commercial real estate-related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $10 million and $7 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2018.
[3] During the three and nine months ended September 30, 2019, the Company transferred $64 million and $138 million, respectively, of net IRLC assets out of level 3 as the associated loans were closed.
[4] During the three and nine months ended September 30, 2018, the Company transferred $26 million and $43 million, respectively, of net IRLC assets out of level 3 as the associated loans were closed.
[5] Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $3 million and $5 million in earnings during the three and nine months ended September 30, 2019, respectively, related to changes in unrealized gains on LHFI still held at September 30, 2019.
[6] Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $4 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized losses on LHFI still held at September 30, 2018.
v3.19.3
Carrying Value of Those Assets Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Transfer of Portfolio Loans and Leases to Held-for-sale     $ 812 $ 449  
Allowance for Loan and Lease Losses, Write-offs $ (139) $ (122) (377) $ (329)  
Loans Held-For-Sale [Member] | Fair Value, Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 311   311   $ 47
Asset Impairment Charges (14)   (14)   (1)
Loans Held-For-Sale [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Loans Held-For-Sale [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 311   311   47
Loans Held-For-Sale [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Loans Held-For-Investment [Member] | Fair Value, Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 128   128   63
Asset Impairment Charges 0   0   0
Loans Held-For-Investment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Loans Held-For-Investment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Loans Held-For-Investment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 128   128   63
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 22   22   19
Asset Impairment Charges (1)   (3)   (4)
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 22   22   19
Other Assets [Member] | Fair Value, Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 74   74   67
Assets, Fair Value Adjustment 16   14   24
Other Assets [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 0   0   0
Other Assets [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 61   61   47
Other Assets [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Disclosure 13   13   20
Other Assets [Member] | Nonmarketable Equity Securities [Member] | Fair Value, Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets, Fair Value Adjustment $ 16   $ 16   30
Other Assets [Member] | Building [Member] | Fair Value, Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Asset Impairment Charges         $ (5)
v3.19.3
Carrying Amounts and Fair Values of the Company's Financial Instruments (Detail) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Financial assets    
Debt Securities, Trading, and Equity Securities, FV-NI [1] $ 7,104,000,000 $ 5,506,000,000
Available-for-sale Securities [2] 31,358,000,000 31,442,000,000
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group [3] 2,006,000,000 1,468,000,000
Loans and Leases Receivable, Excluding Fair Value Loans 158,331,000,000 151,676,000,000
Loans Receivable, Fair Value Disclosure 124,000,000 163,000,000
Other Assets 10,996,000,000 8,991,000,000
Financial liabilities    
Deposits 167,671,000,000 162,589,000,000
Long-term Debt [4] 20,369,000,000 15,072,000,000
Fair Value, Inputs, Level 1 [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 9,184,000,000 7,495,000,000
Debt Securities, Trading, and Equity Securities, FV-NI 764,000,000 521,000,000
Available-for-sale Securities 4,018,000,000 4,211,000,000
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group 0 0
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans and Leases Receivable, Excluding Fair Value Loans 0 0
Loans Receivable, Fair Value Disclosure 0 0
Other Assets 0 0
Other Assets, Fair Value Disclosure [5] 76,000,000 95,000,000
Financial liabilities    
Time Deposits 0 0
Short-term Debt, Fair Value 0 0
Long-term Debt 0 0
Long-term Debt, Fair Value 0 0
Trading liabilities 693,000,000 925,000,000
Fair Value, Inputs, Level 2 [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 0 0
Debt Securities, Trading, and Equity Securities, FV-NI 6,313,000,000 4,965,000,000
Available-for-sale Securities 27,340,000,000 27,231,000,000
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group 448,000,000 261,000,000
Loans Held-for-sale, Fair Value Disclosure 1,488,000,000 1,178,000,000
Loans and Leases Receivable, Excluding Fair Value Loans 0 0
Loans Receivable, Fair Value Disclosure 0 0
Other Assets 0 0
Other Assets, Fair Value Disclosure 0 0
Financial liabilities    
Time Deposits 16,637,000,000 15,106,000,000
Short-term Debt, Fair Value 7,144,000,000 8,772,000,000
Long-term Debt 18,490,000,000 13,024,000,000
Long-term Debt, Fair Value 302,000,000 289,000,000
Trading liabilities 677,000,000 672,000,000
Fair Value, Inputs, Level 3 [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 0 0
Debt Securities, Trading, and Equity Securities, FV-NI 27,000,000 20,000,000
Available-for-sale Securities 0 0
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group 77,000,000 30,000,000
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans and Leases Receivable, Excluding Fair Value Loans 156,222,000,000 148,167,000,000
Loans Receivable, Fair Value Disclosure 124,000,000 163,000,000
Other Assets [5] 737,000,000 630,000,000
Other Assets, Fair Value Disclosure 0 0
Financial liabilities    
Time Deposits 0 0
Short-term Debt, Fair Value 0 0
Long-term Debt 1,767,000,000 1,705,000,000
Long-term Debt, Fair Value 0 0
Trading liabilities 10,000,000 7,000,000
Reported Value Measurement [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 9,184,000,000 7,495,000,000
Debt Securities, Trading, and Equity Securities, FV-NI 7,104,000,000 5,506,000,000
Available-for-sale Securities 31,358,000,000 31,442,000,000
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group 518,000,000 290,000,000
Loans Held-for-sale, Fair Value Disclosure 1,488,000,000 1,178,000,000
Loans and Leases Receivable, Excluding Fair Value Loans 156,632,000,000 150,061,000,000
Loans Receivable, Fair Value Disclosure 124,000,000 163,000,000
Other Assets [5] 737,000,000 630,000,000
Other Assets, Fair Value Disclosure [5] 76,000,000 95,000,000
Financial liabilities    
Time Deposits 16,727,000,000 15,355,000,000
Short-term Debt, Fair Value 7,144,000,000 8,772,000,000
Long-term Debt 20,067,000,000 14,783,000,000
Long-term Debt, Fair Value 302,000,000 289,000,000
Trading liabilities 1,380,000,000 1,604,000,000
Estimate of Fair Value, Fair Value Disclosure [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 9,184,000,000 7,495,000,000
Debt Securities, Trading, and Equity Securities, FV-NI 7,104,000,000 5,506,000,000
Available-for-sale Securities 31,358,000,000 31,442,000,000
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group 525,000,000 291,000,000
Loans Held-for-sale, Fair Value Disclosure 1,488,000,000 1,178,000,000
Loans and Leases Receivable, Excluding Fair Value Loans 156,222,000,000 148,167,000,000
Loans Receivable, Fair Value Disclosure 124,000,000 163,000,000
Other Assets [5] 737,000,000 630,000,000
Other Assets, Fair Value Disclosure [5] 76,000,000 95,000,000
Financial liabilities    
Time Deposits 16,637,000,000 15,106,000,000
Short-term Debt, Fair Value 7,144,000,000 8,772,000,000
Long-term Debt 20,257,000,000 14,729,000,000
Long-term Debt, Fair Value 302,000,000 289,000,000
Trading liabilities 1,380,000,000 1,604,000,000
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member]    
Financial liabilities    
Deposits 0 0
Deposits, Fair Value Disclosure 0 0
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member]    
Financial liabilities    
Deposits 964,000,000 615,000,000
Deposits, Fair Value Disclosure 552,000,000 403,000,000
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member]    
Financial liabilities    
Deposits 0 0
Deposits, Fair Value Disclosure 0 0
Brokered Time Deposits [Member] | Reported Value Measurement [Member]    
Financial liabilities    
Deposits 993,000,000 642,000,000
Deposits, Fair Value Disclosure 552,000,000 403,000,000
Brokered Time Deposits [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]    
Financial liabilities    
Deposits 964,000,000 615,000,000
Deposits, Fair Value Disclosure $ 552,000,000 $ 403,000,000
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively.
[3] Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018, respectively.
[4] Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively.
[5] Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values.
v3.19.3
Contingencies - Additional Information (Detail)
$ in Millions
Sep. 30, 2019
USD ($)
Minimum [Member]  
Aggregate range of reasonably possible losses on legal matters in excess of the accrued liability $ 0
Maximum [Member]  
Aggregate range of reasonably possible losses on legal matters in excess of the accrued liability $ 160
v3.19.3
Business Segment Reporting (Detail)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2019
USD ($)
segments
Sep. 30, 2018
USD ($)
Number of Operating Segments | segments     2  
Average Total Loans Held for Investment $ 157,612 $ 145,995 $ 156,044 $ 144,368
Average Total Deposits 162,533 159,348 160,779 159,159
Average Total Assets 224,747 207,395 221,019 205,370
Average Total Liabilities 198,521 183,120 195,712 181,046
Average Total Equity 26,226 24,275 25,307 24,324
Interest Income (Expense), Net 1,510 1,512 4,589 4,440
Fully Taxable Equivalent Adjustment 22 22 66 65
Net Interest Income Including Fully Taxable Equivalent Adjustment 1,532 [1] 1,534 [2] 4,655 [3] 4,505 [4]
Provision for Loan, Lease, and Other Losses 132 [5] 61 [6] 412 [7] 121 [8]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment 1,400 1,473 4,243 4,384
Noninterest Income 843 782 2,653 2,408
Noninterest Expense 1,474 1,384 4,602 4,191
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 769 871 2,294 2,601
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 144 [9] 117 [10] 396 [11] 477 [12]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 625 754 1,898 2,124
Net Income (Loss) Attributable to Noncontrolling Interest 2 2 7 7
Net Income (Loss) Attributable to Parent 623 752 1,891 2,117
Consumer [Member]        
Average Total Loans Held for Investment 80,414 75,234 79,473 74,907
Average Total Deposits 114,132 111,950 113,067 111,008
Average Total Assets 90,329 85,933 89,026 84,909
Average Total Liabilities 114,989 112,898 113,979 111,909
Average Total Equity 0 0 0 0
Interest Income (Expense), Net 1,068 1,056 3,222 3,087
Fully Taxable Equivalent Adjustment 0 0 0 0
Net Interest Income Including Fully Taxable Equivalent Adjustment 1,068 [1] 1,056 [2] 3,222 [3] 3,087 [4]
Provision for Loan, Lease, and Other Losses 77 [5] 36 [6] 204 [7] 102 [8]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment 991 1,020 3,018 2,985
Noninterest Income 479 444 1,415 1,347
Noninterest Expense 1,025 991 3,029 2,984
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 445 473 1,404 1,348
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 102 [9] 108 [10] 321 [11] 305 [12]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 343 365 1,083 1,043
Net Income (Loss) Attributable to Noncontrolling Interest 0 0 0 0
Net Income (Loss) Attributable to Parent 343 365 1,083 1,043
Wholesale [Member]        
Average Total Loans Held for Investment 77,107 70,669 76,481 69,375
Average Total Deposits 45,817 44,702 44,777 45,247
Average Total Assets 93,584 84,909 92,046 83,193
Average Total Liabilities 52,471 51,215 51,441 51,375
Average Total Equity 0 0 0 0
Interest Income (Expense), Net 529 539 1,607 1,580
Fully Taxable Equivalent Adjustment 21 22 65 63
Net Interest Income Including Fully Taxable Equivalent Adjustment 550 [1] 561 [2] 1,672 [3] 1,643 [4]
Provision for Loan, Lease, and Other Losses 56 [5] 24 [6] 208 [7] 19 [8]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment 494 537 1,464 1,624
Noninterest Income 368 368 1,137 1,096
Noninterest Expense 457 432 1,382 1,307
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 405 473 1,219 1,413
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 96 [9] 112 [10] 289 [11] 334 [12]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 309 361 930 1,079
Net Income (Loss) Attributable to Noncontrolling Interest 0 0 0 0
Net Income (Loss) Attributable to Parent 309 361 930 1,079
Corporate Other [Member]        
Average Total Loans Held for Investment 91 93 90 89
Average Total Deposits 2,779 3,264 3,224 3,234
Average Total Assets 38,557 35,647 38,189 35,585
Average Total Liabilities 31,126 19,531 30,465 18,065
Average Total Equity 0 0 0 0
Interest Income (Expense), Net (79) (46) (222) (111)
Fully Taxable Equivalent Adjustment 0 1 1 2
Net Interest Income Including Fully Taxable Equivalent Adjustment (79) [1] (45) [2] (221) [3] (109) [4]
Provision for Loan, Lease, and Other Losses 0 [5] 0 [6] 0 [7] 0 [8]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment (79) (45) (221) (109)
Noninterest Income 34 16 230 81
Noninterest Expense (5) (35) 207 (83)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (40) 6 (198) 55
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal (10) [9] (51) [10] (81) [11] (23) [12]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (30) 57 (117) 78
Net Income (Loss) Attributable to Noncontrolling Interest 2 2 7 7
Net Income (Loss) Attributable to Parent (32) 55 (124) 71
Reconciling Items        
Average Total Loans Held for Investment 0 (1) 0 (3)
Average Total Deposits (195) (568) (289) (330)
Average Total Assets 2,277 906 1,758 1,683
Average Total Liabilities (65) (524) (173) (303)
Average Total Equity 26,226 24,275 25,307 24,324
Interest Income (Expense), Net (8) (37) (18) (116)
Fully Taxable Equivalent Adjustment 1 (1) 0 0
Net Interest Income Including Fully Taxable Equivalent Adjustment (7) [1] (38) [2] (18) [3] (116) [4]
Provision for Loan, Lease, and Other Losses (1) [5] 1 [6] 0 [7] 0 [8]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment (6) (39) (18) (116)
Noninterest Income (38) (46) (129) (116)
Noninterest Expense (3) (4) (16) (17)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (41) (81) (131) (215)
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal (44) [9] (52) [10] (133) [11] (139) [12]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 3 (29) 2 (76)
Net Income (Loss) Attributable to Noncontrolling Interest 0 0 0 0
Net Income (Loss) Attributable to Parent $ 3 $ (29) $ 2 $ (76)
[1] Presented on a matched maturity funds transfer price basis for the segments.
[2]
Presented on a matched maturity funds transfer price basis for the segments.
[3] Presented on a matched maturity funds transfer price basis for the segments.
[4] Presented on a matched maturity funds transfer price basis for the segments.
[5] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[6]
Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[7] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[8] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[9] Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
[10]
Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
[11] Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
[12] Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
v3.19.3
Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Dec. 31, 2017
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax $ 603 $ (697) $ 603 $ (697) $ 437 $ (357) $ (519) $ (1)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax (66) (479) (66) (479) (148) (368) (459) (244)
Accumulated Other Comprehensive Income (Loss), Brokered Time Deposits, net of tax 0 (1) 0 (1) 0 1 (1) (1)
Accumulated Other Comprehensive Income (Loss), Long-term Debt, Net of Tax (1) (2) (1) (2) (1) (1) (2) (4)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax (685) (695) (685) (695) (689) (695) (698) (570)
Accumulated Other Comprehensive Income (Loss), Net of Tax (149) (1,874) (149) (1,874) $ (401) $ (1,420) $ (1,679) $ (820)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income     31 [1] (10) [2]        
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax 169 (178) 931 (725)        
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax 47 (37) 203 (209)        
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Brokered Time Deposits Arising During Period, Net of Tax 0 0 (1) 0        
Other Comprehensive Income (Loss), Unrealized Credit Risk Gain (Loss) on Long-term Debt Arising During Period, Net of Tax 0 0 0 3        
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax 0 0 0 (7)        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 216 (215) 1,133 (938)        
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax (3) 0 29 (1)        
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax 35 17 99 30        
Other Comprehensive Income (Loss), Reclassification from AOCI on Brokered Time Deposits, Net of Tax 0 0 0 0        
Other Comprehensive Income Loss Reclassfication Adjustment From AOCI on Long Term Debt, Net of Tax 0 0 0 0        
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax 4 3 10 9        
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 36 20 138 38        
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax 166 (178) 960 (726)        
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 82 (20) 302 (179)        
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax 0 0 (1) 0        
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax 0 0 0 (3)        
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax (4) (3) (10) (2)        
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent $ 252 $ (195) $ 1,271 (900)        
AOCI Attributable to Parent [Member]                
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [2],[3]       (154)        
Available-for-sale Securities [Member] | AOCI Attributable to Parent [Member]                
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [3]       30        
Derivative [Member] | AOCI Attributable to Parent [Member]                
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [3]       (56)        
Brokered Time Deposits [Member] | AOCI Attributable to Parent [Member]                
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [3]       0        
Long-term Debt [Member] | AOCI Attributable to Parent [Member]                
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [3]       (1)        
Defined Benefit Plan [Member] | AOCI Attributable to Parent [Member]                
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [3]       $ (127)        
[1] Related to the Company’s adoption of ASU 2016-02 on January 1, 2019. See Note 1, “Significant Accounting Policies,” for additional information.
[2] Related to the Company’s adoption of ASU 2014-09, ASU 2016-01, ASU 2017-12, and ASU 2018-02 on January 1, 2018. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information.
[3]
Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information.
v3.19.3
Accumulated Other Comprehensive Income Reclassifications out of AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax $ (4) $ 0 $ 38 $ (1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax 1 0 (9) 0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax (3) 0 29 (1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax 46 22 129 39
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax (11) (5) (30) (9)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax 35 17 99 30
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax (1) (2) (4) (5)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Actuarial Gain (Loss), Before Tax 6 6 18 17
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax 5 4 14 12
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax (1) (1) (4) (3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax 4 3 10 9
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax $ 36 $ 20 $ 138 $ 38