SUNTRUST BANKS INC, 10-Q filed on 5/4/2018
Quarterly Report
v3.8.0.1
Document and Entity Information - $ / shares
 3 Months Ended
Mar. 31, 2018
Apr. 30, 2018
Dec. 31, 2017
Entity Registrant Name SUNTRUST BANKS INC    
Entity Central Index Key 0000750556    
Current Fiscal Year End Date --12-31    
Entity Filer Category Large Accelerated Filer    
Document Type 10-Q    
Document Period End Date Mar. 31, 2018    
Document Fiscal Year Focus 2018    
Document Fiscal Period Focus Q1    
Amendment Flag false    
Entity Common Stock, Shares Outstanding   464,826,552  
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Common Stock, Par or Stated Value Per Share $ 1.00   $ 1.00
v3.8.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest Income    
Interest and fees on loans $ 1,398 $ 1,289
Interest and fees on loans held for sale 21 24
Interest and Dividend Income, Securities, Available-for-sale [1],[2] 206 182
Trading account interest and other [2] 43 33
Total interest income 1,668 1,528
Interest Expense    
Interest on deposits 131 80
Interest Expense, Long-term Debt 74 70
Interest on other borrowings 22 12
Total interest expense 227 162
Net, interest income 1,441 1,366 [3],[4]
Provision for Loan, Lease, and Other Losses 28 [5] 119 [3],[4],[6]
Interest Income (Expense), after Provision for Loan Loss 1,413 1,247
Noninterest Income    
Service charges on deposit accounts 146 [7] 148 [8]
Fees and Commissions, Other 87 [7] 95 [8]
Fees and Commissions, Credit and Debit Cards 81 [7] 82 [8]
Investment Banking Revenue 131 [7] 167 [8]
Trading Gain (Loss) 42 [7] 51 [8]
Fees and Commissions, Fiduciary and Trust Activities 75 [7] 75 [8]
Investment Advisory, Management and Administrative Fees 72 [7] 68 [8]
Fees and Commissions, Mortgage Banking 36 [7] 53 [8]
Servicing Fees, Net (54) [7] (58) [8]
commercial real estate related income 23 [7] 20 [8]
Gain (Loss) on Sale of Securities, Net 1 [7] 0 [8]
Noninterest Income, Other Operating Income 48 [7] 30 [8]
Total noninterest income 796 [7] 847 [3],[4],[8]
Noninterest Expense    
Employee compensation 707 717
Other Labor-related Expenses 146 135
Outside processing and software 206 205
Net occupancy expense 94 92
Federal Deposit Insurance Corporation Premium Expense 41 48
Marketing and Advertising Expense 41 42
Equipment Expense 40 39
Operating losses 6 32
Amortization 15 13
Other Noninterest Expense 121 142
Noninterest Expense 1,417 1,465 [3],[4]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest 792 629
Income Tax Expense (Benefit) 147 159
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 645 470 [3],[4]
Net Income (Loss) Attributable to Noncontrolling Interest 2 2 [3],[4]
Net Income (Loss) Attributable to Parent 643 468 [3],[4]
Net Income (Loss) Available to Common Stockholders, Basic $ 612 $ 451
Earnings Per Share, Diluted $ 1.29 $ 0.91
Earnings Per Share, Basic 1.31 0.92
Common Stock, Dividends, Per Share, Declared $ 0.40 $ 0.26
Weighted Average Number of Shares Outstanding, Diluted 473,620 496,002
Weighted Average Number of Shares Outstanding, Basic 468,723 490,091
[1] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, income associated with these equity securities was presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
[2] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other. For periods prior to January 1, 2018, income associated with these equity securities was presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
[3] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[4] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[5] Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) 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] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
[8] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
v3.8.0.1
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Comprehensive Income [Abstract]    
Net Income (Loss) Attributable to Parent $ 643 $ 468 [1],[2]
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax (425) 2
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax (124) (42)
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax 1 0
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax 2 (1)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax (2) (5)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (548) (46)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $ 95 $ 422
[1] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[2] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
v3.8.0.1
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Comprehensive Income [Abstract]    
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax $ (130) $ 1
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax (38) (24)
Other Comprehensive Income (Loss), Brokered Time Deposits, Tax 0 0
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Tax 1 (1)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax $ 1 $ (1)
v3.8.0.1
Consolidated Balance Sheets - USD ($)
shares in Thousands, $ in Millions
Mar. 31, 2018
Dec. 31, 2017
Assets    
Cash and Due from Banks $ 5,851 $ 5,349
Federal Funds Sold and Securities Purchased under Agreements to Resell 1,428 1,538
Interest-bearing Deposits in Banks and Other Financial Institutions 25 25
Cash and cash equivalents 7,304 6,912
Trading Securities [1] 5,112 5,093
Available-for-sale Securities [2],[3] 30,934 30,947 [4]
Loans Held for Sale [5] 2,377 2,290
Loans held for investment [6] 142,618 143,181
Loans and Leases Receivable, Allowance (1,694) (1,735)
Net loans 140,924 141,446
Property, Plant and Equipment, Net 1,628 1,734
Goodwill 6,331 6,331
Intangible Assets, Net (Excluding Goodwill) [7] 1,996 1,791
Other Assets [3] 8,279 9,418
Total assets 204,885 205,962
Liabilities and Shareholders' Equity    
Noninterest-bearing consumer and commercial deposits 43,494 42,784
Interest-bearing Deposit Liabilities 118,885 117,996
Total deposits 162,379 160,780
Federal Funds Purchased 1,189 2,561
Securities Sold under Agreements to Repurchase 1,677 1,503
Other Short-term Borrowings 706 717
Long-term Debt [8] 10,692 9,785
Trading liabilities 1,737 1,283
Other Liabilities 2,236 4,179
Total liabilities 180,616 180,808
Preferred Stock, Value, Outstanding 2,025 2,475
Common Stock, Value, Outstanding 552 550
Additional Paid in Capital 8,960 9,000
Retained earnings 18,107 17,540
Treasury Stock, Value [9] (3,853) (3,591)
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,522) (820)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 24,269 25,154
Liabilities and Equity $ 204,885 $ 205,962
Common Stock, Shares, Outstanding [10] 469,708 470,931
Common shares authorized 750,000 750,000
Preferred Stock, Shares Outstanding 20 25
Preferred Stock, Shares Authorized 50,000 50,000
Treasury shares of common stock 82,223 79,133
Treasury Stock and Other    
Liabilities and Shareholders' Equity    
Treasury Stock, Value $ (3,953)  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [11] (3,853) $ (3,591)
Stockholders' Equity Attributable to Noncontrolling Interest 101 103
Variable Interest Entity, Primary Beneficiary [Member]    
Assets    
Loans held for investment 171 179
Liabilities and Shareholders' Equity    
Long-term Debt $ 182 $ 189
Restricted Stock [Member]    
Liabilities and Shareholders' Equity    
Common Stock, Shares, Outstanding 9 9
Trading Securities [Member]    
Liabilities and Shareholders' Equity    
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value $ 1,248 $ 1,086
Available-for-sale Securities [Member]    
Liabilities and Shareholders' Equity    
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value $ 214 $ 223
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,248 million and $1,086 million at March 31, 2018 and December 31, 2017, respectively.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[3] Text selection found with no content.
[4] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[5] Includes $1.4 billion and $1.6 billion of LHFS measured at fair value at March 31, 2018 and December 31, 2017, respectively.
[6] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
[7] Excludes fully amortized other intangible assets.
[8] Includes debt of consolidated VIEs of $182 million and $189 million at March 31, 2018 and December 31, 2017, respectively.
[9] Includes noncontrolling interest of $101 million and $103 million at March 31, 2018 and December 31, 2017, respectively.
[10] Includes restricted shares of 9 thousand and 9 thousand at March 31, 2018 and December 31, 2017, respectively.
[11] At March 31, 2018, includes ($3,953) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.At March 31, 2017, includes ($2,812) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.
v3.8.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Loans Held-for-sale, Fair Value Disclosure $ 1,428 $ 1,577  
Loans Receivable, Fair Value Disclosure $ 188 196  
Other Assets, Fair Value Disclosure   $ 56  
Common stock, par value $ 1.00 $ 1.00  
Loans and Leases Receivable, Gross [1] $ 142,618 $ 143,181  
Long-term Debt [2] $ 10,692 $ 9,785  
Common Stock, Shares, Outstanding [3] 469,708 470,931  
Variable Interest Entity, Primary Beneficiary [Member]      
Loans and Leases Receivable, Gross $ 171 $ 179  
Long-term Debt 182 189  
Treasury Stock and Other      
Stockholders' Equity Attributable to Noncontrolling Interest 101 103 $ 101
Residential Portfolio Segment [Member]      
Loans and Leases Receivable, Gross $ 38,273 $ 38,620  
Restricted Stock [Member]      
Common Stock, Shares, Outstanding 9 9  
Trading Securities [Member]      
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value $ 1,248 $ 1,086  
Available-for-sale Securities [Member]      
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value 214 223  
Fair Value, Measurements, Recurring [Member]      
Loans Held-for-sale, Fair Value Disclosure 1,428 1,577  
Loans Receivable, Fair Value Disclosure 188 196  
Servicing Asset at Fair Value, Amount 1,916 1,710  
Other Assets, Fair Value Disclosure 143 [4] 56 [5]  
Long-term Debt, Fair Value 209 530  
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member]      
Deposits, Fair Value Disclosure $ 302 $ 236  
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
[2] Includes debt of consolidated VIEs of $182 million and $189 million at March 31, 2018 and December 31, 2017, respectively.
[3] Includes restricted shares of 9 thousand and 9 thousand at March 31, 2018 and December 31, 2017, respectively.
[4] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[5] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
Consolidated Statements of Shareholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Treasury Stock and Other
 [1]
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding     491,000        
Total shareholders' equity at Dec. 31, 2016 $ 23,618 $ 1,225 $ 550 $ 9,010 $ 16,000 $ (2,346) $ (821)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income (Loss) Attributable to Parent 468 [2],[3]       468    
Other Comprehensive Income (Loss), Net of Tax (46)           (46)
Noncontrolling Interest, Period Increase (Decrease) (2)         (2)  
Dividends, Common Stock, Cash (128)       (128)    
Dividends, Preferred Stock, Cash [4] (17)       (17)    
Treasury Stock, Shares, Acquired     (7,000)        
Treasury Stock, Value, Acquired, Cost Method (414)         (414)  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period     1,000        
Stock Issued During Period, Value, Stock Options Exercised 9     12   21  
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures     1,000        
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures (4)     (32) (1) 29  
Total shareholders' equity at Mar. 31, 2017 $ 23,484 1,225 $ 550 8,966 16,322 (2,712) (867)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding     486,000        
Common Stock, Shares, Outstanding 470,931 [5]   471,000        
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [6] $ (10)       144   (154) [7]
Total shareholders' equity at Dec. 31, 2017 25,154 $ 2,475 $ 550 9,000 17,540 (3,591) (820)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income (Loss) Attributable to Parent 643       643    
Other Comprehensive Income (Loss), Net of Tax (548)           (548)
Noncontrolling Interest, Period Increase (Decrease) (2)         (2)  
Dividends, Common Stock, Cash (187)       (187)    
Dividends, Preferred Stock, Cash [4] (31)       (31)    
Treasury Stock, Shares, Acquired     (5,000)        
Treasury Stock, Value, Acquired, Cost Method (330)         (330)  
Stock Redeemed or Called During Period, Shares   (450,000)          
Stock Redeemed or Called During Period, Value (450)            
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period     1,000        
Stock Issued During Period, Value, Stock Options Exercised 32     0   32  
Stock Issued During Period, Shares, Other     2,000        
Stock Issued During Period, Value, Other 2   $ 2        
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures     1,000        
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures (4)     (40) (2) 38  
Total shareholders' equity at Mar. 31, 2018 $ 24,269 $ 2,025 $ 552 $ 8,960 $ 18,107 $ (3,853) $ (1,522)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common Stock, Shares, Outstanding 469,708 [5]   470,000        
[1] At March 31, 2018, includes ($3,953) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.At March 31, 2017, includes ($2,812) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.
[2] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[3] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[4] For the three months ended March 31, 2018, dividends were $1,000 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, $1,406 per share for Series F Preferred Stock, $1,038 per share for Series G Preferred Stock, and $1,281 per share for Series H Preferred Stock.For the three months ended March 31, 2017, dividends were $1,000 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, and $1,406 per share for Series F Preferred Stock.
[5] Includes restricted shares of 9 thousand and 9 thousand at March 31, 2018 and December 31, 2017, respectively.
[6] Related to the Company's adoption of ASU 2014-09, ASU 2016-01, ASU 2017-12, and ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information.
[7] Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information.
v3.8.0.1
Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Treasury Stock, Value [1] $ (3,853)  
Common stock dividends, per share $ 0.40 $ 0.26
Treasury Stock and Other    
Treasury Stock, Value $ (3,953) $ (2,812)
Deferred Compensation Equity (1) (1)
Stockholders' Equity Attributable to Noncontrolling Interest $ 101 $ 101
Series A Preferred Stock [Member]    
Preferred Stock, Dividends, Per Share, Cash Paid $ 1,000 $ 1,000
Series B Preferred Stock [Member]    
Preferred Stock, Dividends, Per Share, Cash Paid 1,000 1,000
Series E Preferred Stock [Member]    
Preferred Stock, Dividends, Per Share, Cash Paid 1,469 1,469
Series F Preferred Stock [Member]    
Preferred Stock, Dividends, Per Share, Cash Paid 1,406 $ 1,406
Series G Preferred Stock [Member]    
Preferred Stock, Dividends, Per Share, Cash Paid 1,038  
Series H Preferred Stock [Member]    
Preferred Stock, Dividends, Per Share, Cash Paid $ 1,281  
[1] Includes noncontrolling interest of $101 million and $103 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities:    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 645 $ 470 [1],[2]
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation, Amortization and Accretion, Net 175 179
Payments to Acquire Mortgage Servicing Rights (MSR) 80 101
Provisions For Credit Losses And Foreclosed Properties 30 121
Stock Option Compensation And Amortization Of Restricted Stock Compensation 56 58
Gain (Loss) on Sale of Securities, Net 1 [3] 0 [4]
Gain (Loss) on Sale of Loans and Leases (11) 6
Net decrease/(increase) in loans held for sale 100 (2,056)
Increase (Decrease) in Trading Securities 182 8
Net (increase)/decrease in other assets [5] (644) (389)
Increase (Decrease) in Other Operating Liabilities [5] (110) (284)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations (200) 2,096
Cash Flows from Investing Activities:    
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities 858 993
Proceeds from Sale of Available-for-sale Securities 1,663 0
Payments to Acquire Available-for-sale Securities 2,689 1,450
Proceeds from (payments for) Originations and Purchases of Loans Held-for-investment 413 (492)
Proceeds from sales of loans 36 118
Payments for (Proceeds from) Mortgage Servicing Rights (60) 0
Capital expenditures (67) (43)
Proceeds from Sale of Other Real Estate 52 55
Payments for (Proceeds from) Other Investing Activities [5] 3 2
Net Cash Provided by (Used in) Investing Activities, Continuing Operations 209 (817)
Cash Flows from Financing Activities:    
Net (decrease)/increase in total deposits 1,599 2,455
Net increase/(decrease) in funds purchased, securities sold under agreements to repurchase, and other short-term borrowings (1,209) (68)
Proceeds from Issuance of Long-term Debt 1,311 1,340
Repayment of long-term debt (333) (2,576)
Payments for Repurchase of Preferred Stock and Preference Stock (450) 0
Payments for Repurchase of Common Stock (330) (414)
Common and preferred dividends paid (197) (138)
Payments Related to Tax Withholding for Share-based Compensation (42) (36)
Proceeds from the exercise of stock options 34 9
Net Cash Provided by (Used in) Financing Activities, Continuing Operations 383 572
Cash and Cash Equivalents, Period Increase (Decrease) 392 1,851
Cash and cash equivalents 6,912 6,423
Cash and cash equivalents 7,304 8,274
Supplemental Disclosures:    
Transfer of Loans Held-for-sale to Portfolio Loans 6 7
Transfer of Portfolio Loans and Leases to Held-for-sale 204 60
Transfer to Other Real Estate $ 19 $ 15
[1] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[2] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[3] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
[4] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
[5] Related to the Company's adoption of ASU 2016-15, certain prior period amounts have been retrospectively reclassified between operating activities and investing activities. See Note 1, "Significant Accounting Policies," for additional information.
v3.8.0.1
Significant Accounting Policies
 3 Months Ended
Mar. 31, 2018
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 2017 Annual Report on Form 10-K.

Changes in Significant Accounting Policies
Pursuant to the Company's adoption of certain ASUs as of January 1, 2018, the following significant accounting policies have been added to or updated from those disclosed in the Company's 2017 Annual Report on Form 10-K:

Revenue Recognition
In the ordinary course of business, the Company recognizes revenue as services are rendered, or as transactions occur, and as collectability is reasonably assured. For the Company's revenue recognition accounting policies, see Note 2, “Revenue Recognition.”

Trading Activities and Securities AFS
Trading assets and liabilities are measured at fair value with changes in fair value recognized within Noninterest income in the Company's Consolidated Statements of Income.
Securities AFS are used as part of the overall asset and liability management process to optimize income and market performance over an entire interest rate cycle. Interest income on securities AFS are recognized on an accrual basis in Interest income in the Company's Consolidated Statements of Income. Premiums and discounts on securities AFS are amortized or accreted as an adjustment to yield over the life of the security. The Company estimates principal prepayments on securities AFS for which prepayments are probable and the timing and amount of prepayments can be reasonably estimated. The estimates are informed by analyses of both historical prepayments and anticipated macroeconomic conditions, such as spot interest rates compared to implied forward interest rates. The estimate of prepayments for these securities impacts their lives and thereby the amortization or accretion of associated premiums and discounts. Securities AFS are measured at fair value with unrealized gains and losses, net of any tax effect, included in AOCI as a component of shareholders’ equity. Realized gains and losses, including OTTI, are determined using the specific identification method and are recognized as a component of Noninterest income in the Consolidated Statements of Income.
Securities AFS are reviewed for OTTI on a quarterly basis. In determining whether OTTI exists for securities AFS in an unrealized loss position, the Company assesses whether it has the intent to sell the security or assesses the likelihood of selling the security prior to the recovery of its amortized cost basis. If the Company intends to sell the security or it is more-likely-than-not that the Company will be required to sell the security prior to the recovery of its amortized cost basis, the security is written down to fair value, and the full amount of any impairment charge is recognized as a component of Noninterest income in the Consolidated Statements of Income. If the Company does not intend to sell the security and it is more-likely-than-not that the Company will not be required to sell the security prior to recovery of its amortized cost basis, only the credit component of any impairment of a security is recognized as a component of Noninterest income in the Consolidated Statements of Income, with the remaining impairment balance recorded in OCI.
For additional information on the Company’s trading and securities AFS activities, see Note 4, “Trading Assets and Liabilities and Derivatives,” and Note 5, “Securities Available for Sale.”

Equity Securities
The Company records equity securities that are not classified as trading assets or liabilities within Other assets in its Consolidated Balance Sheets.
Investments in equity securities with readily determinable fair values are measured at fair value, with changes in the fair value recognized as a component of Noninterest income in the Company's Consolidated Statements of Income.
Investments in equity investments that do not have readily determinable fair values are accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer, also referred to as the measurement alternative. Any adjustments to the carrying value of these investments are recorded in Noninterest income in the Company's Consolidated Statements of Income.
For additional information on the Company's equity securities, see Note 9, “Other Assets,” and Note 16, “Fair Value Election and Measurement.”

Derivative Instruments and Hedging Activities
The Company records derivative contracts at fair value in the Consolidated Balance Sheets. Accounting for changes in the fair value of a derivative depends upon whether or not it has been designated in a formal, qualifying hedging relationship. 
Changes in the fair value of derivatives not designated in a hedging relationship are recorded in noninterest income. This includes derivatives that the Company enters into in a dealer capacity to facilitate client transactions and as a risk management tool to economically hedge certain identified risks, along with certain IRLCs on residential mortgage and commercial loans that are a normal part of the Company’s operations. The Company also evaluates contracts, such as brokered deposits and debt, to determine whether any embedded derivatives are required to be bifurcated and separately accounted for as freestanding derivatives.
Certain derivatives used as risk management tools are designated as accounting hedges of the Company’s exposure to changes in interest rates or other identified market risks. The Company prepares written hedge documentation for all derivatives which are designated as hedges of (i) changes in the fair value of a recognized asset or liability (fair value hedge) attributable to a specified risk or (ii) a forecasted transaction, such as the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). The written hedge documentation includes identification of, among other items, the risk management objective, hedging instrument, hedged item and methodologies for assessing and measuring hedge effectiveness, along with support for management’s assertion that the hedge will be highly effective. Methodologies related to hedge effectiveness include (i) statistical regression analysis of changes in the cash flows of the actual derivative and a perfectly effective hypothetical derivative, or (ii) statistical regression analysis of changes in the fair values of the actual derivative and the hedged item.
For designated hedging relationships, subsequent to the initial assessment of hedge effectiveness, the Company generally performs retrospective and prospective effectiveness testing using a qualitative approach. Assessments of hedge effectiveness are performed at least quarterly. Changes in the fair value of a derivative that is highly effective and that has been designated and qualifies as a fair value hedge are recorded in current period earnings, in the same line item with the changes in the fair value of the hedged item that are attributable to the hedged risk. The changes in the fair value of a derivative that is highly effective and that has been designated and qualifies as a cash flow hedge is initially recorded in AOCI and reclassified to earnings in the same period that the hedged item impacts earnings. The amount reclassified to earnings is recorded in the same line item as the earnings effect of the hedged item.
Hedge accounting ceases for hedging relationships that are no longer deemed effective, or for which the derivative has been terminated or de-designated. For discontinued fair value hedges where the hedged item remains outstanding, the hedged item would cease to be remeasured at fair value attributable to changes in the hedged risk and any existing basis adjustment would be recognized as an adjustment to earnings over the remaining life of the hedged item. For discontinued cash flow hedges, the unrealized gains and losses recorded in AOCI would be reclassified to earnings in the period when the previously designated hedged cash flows occur unless it was determined that transaction was probable to not occur, whereby any unrealized gains and losses in AOCI would be immediately reclassified to earnings.
It is the Company's policy to offset derivative transactions with a single counterparty as well as any cash collateral paid to and received from that counterparty for derivative contracts that are subject to ISDA or other legally enforceable netting arrangements and meet accounting guidance for offsetting treatment. For additional information on the Company’s derivative activities, see Note 15, “Derivative Financial Instruments,” and Note 16, “Fair Value Election and Measurement.”

Subsequent Events
The Company evaluated events that occurred between March 31, 2018 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 current year or not yet adopted as of March 31, 2018, 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 2018
ASU 2014-09, Revenue from Contracts with Customers (ASC Topic 606) and subsequent related ASUs
These ASUs comprise ASC Topic 606, Revenue from Contracts with Customers, which supersede the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the ASC. The core principle of these ASUs is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.
January 1, 2018
The Company adopted these ASUs on a modified retrospective basis beginning January 1, 2018. Upon adoption, the Company recognized an immaterial cumulative effect adjustment that resulted in a decrease to the beginning balance of retained earnings as of January 1, 2018. Furthermore, the Company prospectively changed the presentation of certain types of revenue and expenses, such as underwriting revenue within investment banking income which is shown on a gross basis, and certain cash promotions and card network expenses, which were reclassified from noninterest expense to service charges on deposit accounts, card fees, and other charges and fees. The net quantitative impact of these presentation changes decreased both revenue and expenses by $3 million for the three months ended March 31, 2018; however, these presentation changes did not have an impact on net income. Prior period balances have not been restated to reflect these presentation changes. See Note 2, “Revenue Recognition,” for disclosures relating to ASC Topic 606.

Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Adopted in 2018 (continued)
ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities; and

ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
These ASUs amend ASC Topic 825, Financial Instruments-Overall, and address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The main provisions require most investments in equity securities to be measured at fair value through net income, unless they qualify for a measurement alternative, and require fair value changes arising from changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option to be recognized in other comprehensive income. With the exception of disclosure requirements and the application of the measurement alternative for certain equity investments that was adopted prospectively, these ASUs must be adopted on a modified retrospective basis.
January 1, 2018

Early adoption was permitted for the provision related to changes in instrument-specific credit risk for financial liabilities under the FVO.

The Company early adopted the provision related to changes in instrument-specific credit risk beginning January 1, 2016, which resulted in an immaterial cumulative effect adjustment from retained earnings to AOCI. See Note 1, “Significant Accounting Policies,” to the Company's 2016 Annual Report on Form 10-K for additional information regarding the early adoption of this provision.

Additionally, the Company adopted the remaining provisions of these ASUs beginning January 1, 2018, which resulted in an immaterial cumulative effect adjustment to the beginning balance of retained earnings. In connection with the adoption of these ASUs, an immaterial amount of equity securities previously classified as securities AFS were reclassified to other assets, as the AFS classification is no longer permitted for equity securities under these ASUs.

Subsequent to adoption of these ASUs, an observable transaction occurred relating to an equity investment without a readily determinable fair value. As a result, the Company recognized a $23 million increase in Other assets on its Consolidated Balance Sheets and in Other noninterest income on its Consolidated Statements of Income. See Note 9, “Other Assets,” and Note 16, “Fair Value Election and Measurement,” for additional information.

The remaining provisions and disclosure requirements of these ASUs did not have a material impact on the Company's Consolidated Financial Statements and related disclosures upon adoption.

ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
The ASU amends ASC Topic 230, Statement of Cash Flows, to clarify the classification of certain cash receipts and payments within the Company's Consolidated Statements of Cash Flows. These items include: cash payments for debt prepayment or debt extinguishment costs; cash outflows for the settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned and bank-owned life insurance policies; distributions received from equity method investees; and beneficial interests acquired in securitization transactions. The ASU also clarifies that when no specific U.S. GAAP guidance exists and the source of the cash flows are not separately identifiable, the predominant source of cash flow should be used to determine the classification for the item. The ASU must be adopted on a retrospective basis.

January 1, 2018
The Company adopted this ASU on a retrospective basis effective January 1, 2018 and changed the presentation of certain cash payments and receipts within its Consolidated Statements of Cash Flows. Specifically, the Company changed the presentation of proceeds from the settlement of bank-owned life insurance policies from operating activities to investing activities. The Company also changed the presentation of cash payments related to premiums paid for bank-owned life insurance policies from operating activities to investing activities. Lastly, for contingent consideration payments made more than three months after a business combination, the Company changed the presentation for the portion of the cash payment up to the acquisition date fair value of the contingent consideration as a financing activity and any amount paid in excess of the acquisition date fair value as an operating activity. For both the three months ending March 31, 2018 and 2017, the amount of cash payments and receipts relating to these changes were immaterial to the Company’s Consolidated Statements of Cash Flows.

ASU 2017-09, Stock Compensation (Topic 718): Scope of Modification Accounting
This ASU amends ASC Topic 718, Stock Compensation, to provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting per ASC Topic 718, Stock Compensation. The amendments clarify that modification accounting only applies to an entity if the fair value, vesting conditions, or classification of the award changes as a result of changes in the terms or conditions of a share-based payment award. The ASU should be applied prospectively to awards modified on or after the adoption date.

January 1, 2018
The Company adopted this ASU on January 1, 2018 and upon adoption, the ASU did not have a material impact on the Company's Consolidated Financial Statements and related disclosures.
Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Adopted in 2018 (continued)
ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities
The ASU amends ASC Topic 815, Derivatives and Hedging, to simplify the requirements for hedge accounting. Key amendments include: eliminating the requirement to separately measure and report hedge ineffectiveness, requiring changes in the value of the hedging instrument to be presented in the same income statement line as the earnings effect of the hedged item, and the ability to measure the hedged item based on the benchmark interest rate component of the total contractual coupon for fair value hedges. These changes expand the types of risk management strategies eligible for hedge accounting. The ASU also permits entities to qualitatively assert that a hedging relationship was and continues to be highly effective. New incremental disclosures are also required for reporting periods subsequent to the date of adoption. All transition requirements and elections should be applied to hedging relationships existing on the date of adoption using a modified retrospective approach.

January 1, 2019

Early adoption is permitted.
The Company early adopted this ASU beginning January 1, 2018 and modified its measurement methodology for certain hedged items designated under fair value hedge relationships. The Company elected to perform its subsequent assessments of hedge effectiveness using a qualitative, rather than a quantitative, approach. The adoption resulted in an immaterial cumulative effect adjustment to the opening balance of retained earnings and a basis adjustment to the related hedged items. For additional information on the Company’s derivative and hedging activities, see Note 15, “Derivative Financial Instruments.”

ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI

This ASU amends ASC Topic 220, Income Statement - Reporting Comprehensive Income, to allow for a reclassification from AOCI to Retained earnings for the tax effects stranded in AOCI as a result of the remeasurement of DTAs and DTLs for the change in the federal corporate tax rate pursuant to the 2017 Tax Act, which was recognized through the income tax provision in 2017. The Company may apply this ASU at the beginning of the period of adoption or retrospectively to all periods in which the 2017 Tax Act is enacted.

January 1, 2019

Early adoption is permitted.
The Company early adopted this ASU as of January 1, 2018. Upon adoption of this ASU, the Company elected to reclassify $182 million of stranded tax effects relating to securities AFS, derivative instruments, credit risk on long-term debt, and employee benefit plans from AOCI to retained earnings. This amount was offset by $28 million of stranded tax effects relating to equity securities previously classified as securities AFS, resulting in a net $154 million increase to retained earnings.

Standards Not Yet Adopted
ASU 2016-02, Leases
The ASU creates 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. The ASU does 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. There are several new qualitative and quantitative disclosures required. Upon transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach.

January 1, 2019

Early adoption is permitted.
The Company has formed a cross-functional team to oversee the implementation of this ASU. The Company's implementation efforts are ongoing, including the review of its lease portfolios and related lease accounting policies, the review of its service contracts for embedded leases, and the deployment of a new lease software solution. The Company's adoption of this ASU, which is expected to occur on January 1, 2019, will result in an increase in right-of-use assets and associated lease liabilities, arising from operating leases in which the Company is the lessee, on its Consolidated Balance Sheets.

The amount of the right-of-use assets and associated lease liabilities recorded upon adoption will be based primarily on the present value of unpaid future minimum lease payments, the amount of which will depend on the population of leases in effect at the date of adoption. At March 31, 2018, the Company’s estimate of right-of-use assets and lease liabilities that would be recorded on its Consolidated Balance Sheets upon adoption is in excess of $1 billion. Additionally, the Company is currently evaluating the estimated impact that this ASU may have on its Consolidated Statements of Income.

Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Not Yet Adopted (continued)
ASU 2016-13, Measurement of Credit Losses on Financial Instruments
The ASU adds ASC Topic 326, Financial Instruments-Credit Losses, to replace 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.

The current expected credit loss model does not apply to AFS debt securities; however, the ASU requires 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

Early adoption is permitted beginning January 1, 2019.
The Company has formed a cross-functional team to oversee the implementation of this ASU and has identified the changes necessary to its credit loss estimation methodologies in order to comply with the new accounting standard requirements. Substantial progress has been made to date on implementing these changes, including the development of models, updates to business processes and technology systems, and the documentation of accounting policy decisions. Additionally, the Company is evaluating the impact that this ASU will have on its Consolidated Financial Statements and related disclosures, and the Company currently 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. However, since the magnitude of the anticipated increase in the allowance for credit losses will be impacted by economic conditions and trends in the Company’s portfolio at the time of adoption, the quantitative impact cannot yet be reasonably estimated.

ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
The 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. Entities should recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, but the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis.

January 1, 2020

Early adoption is permitted.
Based on the Company's most recent annual goodwill impairment test performed as of October 1, 2017, there were no reporting units for which the carrying amount of the reporting unit exceeded its fair value; therefore, this ASU would not currently have an impact on the Company's Consolidated Financial Statements and related disclosures. However, if upon the adoption date, which is expected to occur on January 1, 2020, the carrying amount of a reporting unit exceeds its fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value.
v3.8.0.1
Revenue Recognition (Notes)
 3 Months Ended
Mar. 31, 2018
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
NOTE 2 – REVENUE RECOGNITION
Pursuant to the adoption of ASU 2014-09, the following disclosures discuss the Company's revenue recognition accounting policies. The Company recognizes two primary types of revenue, interest income and noninterest income.
Interest Income
The Company’s principal source of revenue is interest income from loans and securities, which is recognized on an accrual basis using the effective interest method. For additional information on the Company’s policies for recognizing interest income on loans and securities, see Note 1, “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K. Interest income is not within the scope of ASC Topic 606, Revenues from Contracts with Customers.
Noninterest Income
Noninterest income includes revenue from various types of transactions and services provided to Consumer and Wholesale clients. 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 or out of scope of ASC Topic 606. The commentary following the tables describes the nature, amount, and timing of the related revenue streams.
 
 Three Months Ended March 31, 2018 1
(Dollars in millions)
 Consumer 2
 
 Wholesale 2
 
  Out of Scope 2, 3
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$104

 

$42

 

$—

 

$146

Other charges and fees
28

 
3

 
56

 
87

Card fees
54

 
26

 
1

 
81

Investment banking income
—

 
84

 
47

 
131

Trading income
—

 
—

 
42

 
42

Trust and investment management income
75

 
—

 
—

 
75

Retail investment services
71

 
1

 
—

 
72

Mortgage servicing related income
—

 
—

 
54

 
54

Mortgage production related income
—

 
—

 
36

 
36

Commercial real estate related income
—

 
—

 
23

 
23

Net securities gains
—

 
—

 
1

 
1

Other noninterest income
6

 
—

 
42

 
48

Total noninterest income

$338

 

$156

 

$302

 

$796

1 Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
2 Consumer and Wholesale totals exclude $105 million and $215 million of out of scope noninterest income, respectively, that is included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Total out of scope noninterest income includes these amounts as well as ($18) million of Corporate Other noninterest income that is out of scope of ASC Topic 606.
3 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.

 
 Three Months Ended March 31, 2017 1
(Dollars in millions)
 Consumer 2
 
 Wholesale 2
 
  Out of Scope 2, 3
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$103

 

$45

 

$—

 

$148

Other charges and fees
31

 
3

 
61

 
95

Card fees
54

 
27

 
1

 
82

Investment banking income
—

 
96

 
71

 
167

Trading income
—

 
—

 
51

 
51

Trust and investment management income
75

 
—

 
—

 
75

Retail investment services
67

 
1

 
—

 
68

Mortgage servicing related income
—

 
—

 
58

 
58

Mortgage production related income
—

 
—

 
53

 
53

Commercial real estate related income
—

 
—

 
20

 
20

Net securities gains
—

 
—

 
—

 
—

Other noninterest income
7

 
—

 
23

 
30

Total noninterest income

$337

 

$172

 

$338

 

$847

1 Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
2 Consumer and Wholesale totals exclude $127 million and $229 million of out of scope noninterest income, respectively, that is included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Total out of scope noninterest income includes these amounts as well as ($18) million of Corporate Other noninterest income that is out of scope of ASC Topic 606.
3 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.


Service Charges on Deposit Accounts
Service charges on deposit accounts represent fees relating to the Company’s various deposit products. These fees include account maintenance, cash management, treasury management, wire transfers, overdraft and other deposit-related fees. The Company’s execution of the services related to these fees represents its related performance obligations. Each of these performance obligations are either satisfied over time or at a point in time as the services are provided to the customer. The Company is the principal when rendering these services. Payments for services provided are either withdrawn from the customer’s account as services are rendered or in the billing period following the completion of the service. The transaction price for each of these fees is based on the Company’s predetermined fee schedule.

Other Charges and Fees
Other charges and fees consist primarily of loan commitment and letter of credit fees, operating lease revenue, ATM fees, insurance revenue, and miscellaneous service charges including wire fees and check cashing fees. Loan commitment and letter of credit fees and operating lease revenue are out of scope of ASC Topic 606.
The Company’s execution of the services related to the fees within the scope of ASC Topic 606 represents its related performance obligations, which are either satisfied at a point in time or over time as services are rendered. ATM fees and miscellaneous service charges are recognized at a point in time as the services are provided.
Insurance commission revenue is earned through the sale of insurance products. The commissions are recognized as revenue when the customer executes an insurance policy with the insurance carrier. In some cases, the Company receives payment of trailing commissions each year when the customer pays its annual premium. For the three months ended March 31, 2018, the Company recognized an immaterial amount of insurance trailing commissions related to performance obligations satisfied in prior periods.
    
Card Fees
Card fees consist of interchange fees from credit and debit cards, merchant acquirer revenue, and other card related services. Interchange fees are earned by the Company each time a request for payment is initiated by a customer at a merchant for which the Company transfers the funds on behalf of the customer. Interchange rates are set by the payment network and are based on purchase volumes and other factors. Interchange fees are received daily and recognized at a point in time when the card transaction is processed. The Company is considered an agent of the customer and incurs costs with the payment network to facilitate the interchange with the merchant; therefore, the related payment network expense is recognized as a reduction of card fees. Prior to the adoption of ASC Topic 606, these expenses were recognized in Outside processing and software in the Company's Consolidated Statements of Income. The Company offers rewards and/or rebates to its customers based on card usage. The costs associated with these programs are also recognized as a reduction of card fees.
The Company also has a revenue sharing agreement with a merchant acquirer. The Company’s referral of a merchant to the merchant acquirer represents its related performance obligations, which is satisfied at a point in time when the referral is made. Monthly revenue is estimated based on the expected amount of transactions processed. Payments are generally made by the merchant acquirer quarterly, the month following the quarter in which the services are rendered.

Investment Banking Income
Investment banking income is comprised primarily of securities underwriting fees, advisory fees, and loan syndication fees. The Company assists corporate clients in raising capital by offering equity or debt securities to potential investors. The underwriting fees are earned on the trade date when the Company, as a member of an underwriting syndicate, purchases the securities from the issuer and sells the securities to third party investors. Each member of the syndicate is responsible for selling its portion of the underwriting and is liable for the proportionate costs of the underwriting; therefore, the Company’s portion of underwriting revenue and expense is presented gross within noninterest income and noninterest expense. Prior to the adoption of ASC Topic 606, underwriting expense was recorded as a reduction of investment banking income. The transaction price is based on a percentage of the total transaction amount and payments are settled shortly after the trade date.
Loan syndication fees are typically recognized at the closing of a loan syndication transaction. These fees are out of the scope of ASC Topic 606.
The Company also provides merger and acquisition advisory services, including various activities such as business valuation, identification of potential targets or acquirers, and the issuance of fairness opinions. The Company’s execution of these advisory services represents its related performance obligations. The performance obligations relating to advisory services are fulfilled at a point in time upon completion of the contractually specified merger or acquisition transaction. The transaction price is based on contractually specified terms agreed upon with the client for each advisory service. Additionally, payments for advisory services consist of upfront retainer fees and success fees at the date the related merger or acquisition is closed. The retainer fees are typically paid upfront, which creates a contract liability. At March 31, 2018, the contract liability relating to these retainer fees was immaterial.
Revenue related to trade execution services is earned on the trade date and recognized at a point in time. The fees related to trade execution services are due on the settlement date.

Trading Income
The Company recognizes trading income as a result of gains and losses from the sales of trading account assets and liabilities. The Company’s trading accounts include various types of investment securities and debt investments, trading loans, and derivative instruments. For additional information relating to trading income, see Note 15, “Derivative Financial Instruments,” and Note 16, “Fair Value Election and Measurement.”

Trust and Investment Management Income
Trust and investment management income includes revenue from custodial services, trust administration, financial advisory services, employee benefit solutions, and other services provided to customers within the Consumer business segment.
The Company generally recognizes trust and investment management revenue over time as services are rendered. Revenue is based on either a percentage of the market value of the assets under management, or advisement, or fixed based on the services provided to the customer. Fees are generally swept from the customer’s account one billing period in arrears based on the prior period’s assets under management or advisement.

Retail Investment Services
Retail investment services consists primarily of investment management, selling and distribution services, and trade execution services. The Company’s execution of these services represents its related performance obligations.
Investment management fees are generally recognized over time as services are rendered and are based on either a percentage of the market value of the assets under management, or advisement, or fixed based on the services provided to the customer. The fees are calculated quarterly and are usually collected at the beginning of the period from the customer’s account and recognized ratably over the related billing period.
The Company also offers selling and distribution services and earns commissions through the sale of annuity and mutual fund products. The Company acts as an agent in these transactions and recognizes revenue at a point in time when the customer enters into an agreement with the product carrier. The Company may also receive trailing commissions and 12b-1 fees related to mutual fund and annuity products, and recognizes this revenue in the period that they are realized since the revenue cannot be accurately predicted at the time the policy becomes effective. The Company recognized revenue of $13 million for the three months ended March 31, 2018, which relates to mutual fund 12b-1 fees and annuity trailing commissions from performance obligations satisfied in periods prior to March 31, 2018.
Trade execution commissions are earned and recognized on the trade date, when the Company executes a trade for a customer. Payment for the trade execution is due on the settlement date.

Mortgage Servicing Related Income
The Company recognizes as assets the rights to service mortgage loans, either when the loans are sold and the associated servicing rights are retained or when servicing rights are purchased from a third party. Mortgage servicing related income includes servicing fees, modification fees, fees for ancillary services, gains or losses from hedging, changes in fair value, and other fees customarily associated with servicing arrangements. For additional information relating to mortgage servicing related income, see Note 1, “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K, and Note 8, “Goodwill and Other Intangible Assets,” Note 15, “Derivative Financial Instruments,” and Note 16, “Fair Value Election and Measurement,” in this Form 10-Q.

Mortgage Production Related Income
Mortgage production related income is comprised primarily of activity related to the sale of consumer mortgage loans as well as loan origination fees such as closing charges, document review fees, application fees, other loan origination fees, and loan processing fees. For additional information relating to mortgage production related income, see Note 1, “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K, and Note 15, “Derivative Financial Instruments,” and Note 16, “Fair Value Election and Measurement,” in this Form 10-Q.

Commercial Real Estate Related Income
Commercial real estate related income consists primarily of origination fees, such as loan placement and broker fees, gains and losses on the sale of commercial loans, commercial mortgage loan servicing fees, income from community development investments, gains and losses from the sale of structured real estate, and other fee income, such as asset advisory fees. The Company earns loan placement and broker fees for arranging financing between third party investors/lenders and borrowers. Additionally, the Company also aids customers in due diligence and valuation advisory services for potential real estate services. For additional information relating to commercial real estate related income, see Note 1, “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K, and Note 8, “Goodwill and Other Intangible Assets,” Note 15, “Derivative Financial Instruments,” and Note 16, “Fair Value Election and Measurement,” in this Form 10-Q.

Net Securities Gains or Losses
The Company recognizes net securities gains or losses primarily as a result of the sale of securities AFS and the recognition of any OTTI on securities AFS. For additional information relating to net securities gains or losses, see Note 5, “Securities Available for Sale.”

Other Noninterest Income
Other noninterest income within the scope of ASC Topic 606 consists primarily of fees from the sale of custom checks. The Company serves as an agent for customers by connecting them with a third party check provider. Revenue from such sales are earned in the form of commissions from the third party check provider and is recognized at a point in time on the date the customer places an order. Commissions for personal check orders are credited to revenue on an ongoing basis, and commissions for commercial check orders are received quarterly in arrears.
Other noninterest income also includes income from bank-owned life insurance policies that is not within the scope of ASC Topic 606. Income from bank-owned life insurance primarily represents changes in the cash surrender value of such life insurance policies held on certain key employees, for which the Company is the owner and beneficiary. Revenue is recognized in each period based on the change in the cash surrender value during the period.

Practical Expedients and Other
The Company pays sales commissions as a cost to obtain certain contracts within the scope of ASC Topic 606; however, sales commissions relating to these contracts are generally expensed when incurred because the amortization period would be one year or less. Sales commissions are recognized as employee compensation within Noninterest expense on the Company’s Consolidated Statements of Income.
The Company has elected the practical expedient to exclude disclosure of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed.
The Company does not have any material contract assets, liabilities, or other receivables recorded on its Consolidated Balance Sheets, relating to its revenue streams within the scope of ASC Topic 606, at March 31, 2018.
v3.8.0.1
Federal Funds Sold and Securities Financing Activities
 3 Months Ended
Mar. 31, 2018
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)
March 31, 2018
 
December 31, 2017
Fed funds sold

$20

 

$65

Securities borrowed
449

 
298

Securities purchased under agreements to resell
959

 
1,175

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

$1,428

 

$1,538


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 March 31, 2018 and December 31, 2017, the total market value of collateral held was $1.4 billion and $1.5 billion, of which $150 million and $177 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:
 
March 31, 2018
 
December 31, 2017
(Dollars in millions)
Overnight and Continuous
 
Up to 30 days
 
30-90 days
 
Total
 
Overnight and Continuous
 
Up to 30 days
 
30-90 days
 
Total
U.S. Treasury securities

$46

 

$—

 

$—

 

$46

 

$95

 

$—

 

$—

 

$95

Federal agency securities
114

 
18

 
1

 
133

 
101

 
15

 
—

 
116

MBS - agency
857

 
81

 
—

 
938

 
694

 
135

 
—

 
829

CP
36

 
—

 
—

 
36

 
19

 
—

 
—

 
19

Corporate and other debt securities
336

 
149

 
39

 
524

 
316

 
88

 
40

 
444

Total securities sold under agreements to repurchase

$1,389

 

$248

 

$40

 

$1,677

 

$1,225

 

$238

 

$40

 

$1,503



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 15, "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 March 31, 2018 and December 31, 2017, 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
March 31, 2018
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,408

 

$—

 

$1,408

1 

$1,394

 

$14

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,677

 
—

 
1,677

 
1,677

 
—

 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,473

 

$—

 

$1,473

1 

$1,462

 

$11

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,503

 
—

 
1,503

 
1,503

 
—


1 Excludes $20 million and $65 million of Fed Funds sold, which are not subject to a master netting agreement at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives
 3 Months Ended
Mar. 31, 2018
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)
March 31, 2018
 
December 31, 2017
Trading Assets and Derivative Instruments:
 
 
 
U.S. Treasury securities

$182

 

$157

Federal agency securities
238

 
395

U.S. states and political subdivisions
123

 
61

MBS - agency
699

 
700

Corporate and other debt securities
804

 
655

CP
169

 
118

Equity securities
51

 
56

Derivative instruments 1
657

 
802

Trading loans 2
2,189

 
2,149

Total trading assets and derivative instruments

$5,112

 

$5,093

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

$698

 

$577

MBS - agency
1

 
—

Corporate and other debt securities
453

 
289

Equity securities
5

 
9

Derivative instruments 1
580

 
408

Total trading liabilities and derivative instruments

$1,737

 

$1,283

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 15, “Derivative Financial Instruments,” and the “Trading Assets and Derivative Instruments and Securities Available for Sale” section of Note 16, “Fair Value Election and Measurement.”
Pledged trading assets are presented in the following table:
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Pledged trading assets to secure repurchase agreements 1

$1,151

 

$1,016

Pledged trading assets to secure certain derivative agreements
97

 
72

Pledged trading assets to secure other arrangements
40

 
41

1 Repurchase agreements secured by collateral totaled $1.1 billion and $975 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Securities Available for Sale
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
NOTE 5 – SECURITIES AVAILABLE FOR SALE
Securities Portfolio Composition
 
March 31, 2018
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. Treasury securities

$4,437

 

$—

 

$97

 

$4,340

Federal agency securities
248

 
3

 
2

 
249

U.S. states and political subdivisions
644

 
5

 
13

 
636

MBS - agency residential
22,837

 
146

 
470

 
22,513

MBS - agency commercial
2,320

 
1

 
79

 
2,242

MBS - non-agency residential
53

 
4

 
—

 
57

MBS - non-agency commercial
897

 
—

 
23

 
874

ABS
6

 
1

 
—

 
7

Corporate and other debt securities
16

 
—

 
—

 
16

Total securities AFS

$31,458

 

$160

 

$684

 

$30,934

 
 
 
 
 
 
 
 
 
  December 31, 2017 1
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. Treasury securities

$4,361

 

$2

 

$32

 

$4,331

Federal agency securities
257

 
3

 
1

 
259

U.S. states and political subdivisions
618

 
7

 
8

 
617

MBS - agency residential
22,616

 
222

 
134

 
22,704

MBS - agency commercial
2,121

 
3

 
38

 
2,086

MBS - non-agency residential
55

 
4

 
—

 
59

MBS - non-agency commercial
862

 
7

 
3

 
866

ABS
6

 
2

 
—

 
8

Corporate and other debt securities
17

 
—

 
—

 
17

Total securities AFS

$30,913

 

$250

 

$216

 

$30,947

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.

The following table presents interest on securities AFS:
 
Three Months Ended March 31
(Dollars in millions)
2018
 
2017
Taxable interest

$201

 

$180

Tax-exempt interest
5

 
2

Total interest on securities AFS 1

$206

 

$182


1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, income associated with these equity securities was presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.

Securities AFS pledged to secure public deposits, repurchase agreements, trusts, certain derivative agreements, and other funds had a fair value of $3.8 billion and $4.3 billion at March 31, 2018 and December 31, 2017, respectively.
The following table presents the amortized cost, fair value, and weighted average yield of investments in securities AFS at March 31, 2018, by remaining contractual maturity, with the exception of MBS and ABS, 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:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$2,731

 

$1,706

 

$—

 

$4,437

Federal agency securities
116

 
40

 
4

 
88

 
248

U.S. states and political subdivisions
6

 
59

 
63

 
516

 
644

MBS - agency residential
1,462

 
4,771

 
16,222

 
382

 
22,837

MBS - agency commercial
1

 
414

 
1,643

 
262

 
2,320

MBS - non-agency residential
—

 
49

 
—

 
4

 
53

MBS - non-agency commercial
—

 
13

 
884

 
—

 
897

ABS
—

 
—

 
5

 
1

 
6

Corporate and other debt securities
7

 
9

 
—

 
—

 
16

Total securities AFS

$1,592

 

$8,086

 

$20,527

 

$1,253

 

$31,458

Fair Value:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$2,673

 

$1,667

 

$—

 

$4,340

Federal agency securities
118

 
41

 
4

 
86

 
249

U.S. states and political subdivisions
6

 
61

 
65

 
504

 
636

MBS - agency residential
1,517

 
4,747

 
15,877

 
372

 
22,513

MBS - agency commercial
1

 
400

 
1,589

 
252

 
2,242

MBS - non-agency residential
—

 
53

 
—

 
4

 
57

MBS - non-agency commercial
—

 
12

 
862

 
—

 
874

ABS
—

 
—

 
6

 
1

 
7

Corporate and other debt securities
7

 
9

 
—

 
—

 
16

Total securities AFS

$1,649

 

$7,996

 

$20,070

 

$1,219

 

$30,934

 Weighted average yield 1
3.31
%
 
2.18
%
 
2.86
%
 
3.04
%
 
2.72
%
1 Weighted average yields are based on amortized cost and presented on an FTE basis.

Securities AFS in an Unrealized Loss Position
The Company held certain investment securities AFS 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 March 31, 2018, 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 2017 Annual Report on Form 10-K.

Securities AFS in an unrealized loss position at period end are presented in the following tables:
 
March 31, 2018
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
Unrealized
Losses 1
 
Fair
Value
 
Unrealized
Losses 1
 
Fair
Value
 
Unrealized
Losses 1
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$3,508

 

$69

 

$832

 

$28

 

$4,340

 

$97

Federal agency securities
22

 
—

 
53

 
2

 
75

 
2

U.S. states and political subdivisions
384

 
8

 
110

 
5

 
494

 
13

MBS - agency residential
13,742

 
284

 
4,460

 
186

 
18,202

 
470

MBS - agency commercial
1,260

 
33

 
894

 
46

 
2,154

 
79

MBS - non-agency commercial
748

 
18

 
90

 
5

 
838

 
23

ABS
—

 
—

 
4

 
—

 
4

 
—

Corporate and other debt securities
9

 
—

 
—

 
—

 
9

 
—

Total temporarily impaired securities AFS
19,673

 
412


6,443


272


26,116


684

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
ABS
—

 
—

 
1

 
—

 
1

 
—

Total OTTI securities AFS
—

 
—

 
1

 
—

 
1

 
—

Total impaired securities AFS

$19,673

 

$412

 

$6,444

 

$272

 

$26,117

 

$684

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, 2017 1
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
Unrealized
 Losses 2
 
Fair
Value
 
Unrealized
 Losses 2
 
Fair
Value
 
Unrealized
 Losses 2
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$1,993

 

$12

 

$841

 

$20

 

$2,834

 

$32

Federal agency securities
23

 
—

 
60

 
1

 
83

 
1

U.S. states and political subdivisions
267

 
3

 
114

 
5

 
381

 
8

MBS - agency residential
8,095

 
38

 
4,708

 
96

 
12,803

 
134

MBS - agency commercial
887

 
9

 
915

 
29

 
1,802

 
38

MBS - non-agency commercial
134

 
1

 
93

 
2

 
227

 
3

ABS
—

 
—

 
4

 
—

 
4

 
—

Corporate and other debt securities
10

 
—

 
—

 
—

 
10

 
—

Total temporarily impaired securities AFS
11,409

 
63

 
6,735

 
153

 
18,144

 
216

OTTI securities AFS 3:
 
 
 
 
 
 
 
 
 
 
 
ABS
—

 
—

 
1

 
—

 
1

 
—

Total OTTI securities AFS
—

 
—

 
1

 
—

 
1

 
—

Total impaired securities AFS

$11,409

 

$63

 

$6,736

 

$153

 

$18,145

 

$216

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
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.

At March 31, 2018, temporarily impaired securities AFS that have been in an unrealized loss position for twelve months or longer included residential and commercial agency MBS, U.S. Treasury securities, municipal securities, commercial non-agency MBS, federal agency securities, and one ABS collateralized by 2004 vintage home equity loans. Unrealized losses on temporarily impaired securities were due to market interest rates being higher than the securities' stated coupon rates. Unrealized losses on securities AFS that relate to factors other than credit are recorded in AOCI, net of tax.
Realized Gains and Losses and Other-Than-Temporarily Impaired Securities AFS
Net securities gains/(losses) are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings. Gross realized gains were immaterial for the three months ended March 31, 2018, and there were no gross realized gains recognized in earnings for the three months ended March 31, 2017. For both the three months ended March 31, 2018 and 2017, there were no gross realized losses or OTTI credit losses recognized in earnings.
Securities AFS 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. See Note 1, "Significant Accounting Policies," to the Company's 2017 Annual Report on Form 10-K for additional information regarding the Company's policy on securities AFS and related impairments.
The Company seeks to reduce existing exposure on 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 months ended March 31, 2018 and 2017, there were no credit impairment losses recognized on securities AFS held at the end of each period. The accumulated balance of OTTI credit losses recognized in earnings on securities AFS held at period end was $23 million and $22 million at March 31, 2018 and 2017, respectively. Subsequent credit losses may be recorded on securities without a corresponding further decline in fair value when there has been a decline in expected cash flows.
v3.8.0.1
Loans
 3 Months Ended
Mar. 31, 2018
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)
March 31, 2018
 
December 31, 2017
Commercial loans:
 
 
 
C&I 1

$66,321

 

$66,356

CRE
5,352

 
5,317

Commercial construction
3,651

 
3,804

Total commercial loans
75,324

 
75,477

Consumer loans:
 
 
 
Residential mortgages - guaranteed
611

 
560

Residential mortgages - nonguaranteed 2
27,165

 
27,136

Residential home equity products
10,241

 
10,626

Residential construction
256

 
298

Guaranteed student
6,693

 
6,633

Other direct
8,941

 
8,729

Indirect
11,869

 
12,140

Credit cards
1,518

 
1,582

Total consumer loans
67,294

 
67,704

LHFI

$142,618

 

$143,181

LHFS 3

$2,377

 

$2,290

1 Includes $3.6 billion and $3.7 billion of lease financing, and $788 million and $778 million of installment loans at March 31, 2018 and December 31, 2017, respectively.
2 Includes $188 million and $196 million of LHFI measured at fair value at March 31, 2018 and December 31, 2017, respectively.
3 Includes $1.4 billion and $1.6 billion of LHFS measured at fair value at March 31, 2018 and December 31, 2017, respectively.
During the three months ended March 31, 2018 and 2017, the Company transferred $204 million and $60 million of LHFI to LHFS, and transferred $6 million and $7 million of LHFS to LHFI, respectively. In addition to sales of residential and commercial mortgage LHFS in the normal course of business, the Company sold $36 million and $118 million of loans and leases during the three months ended March 31, 2018 and 2017, respectively, at a price approximating their recorded investment.
During the three months ended March 31, 2018, the Company purchased $475 million of guaranteed student loans. During the three months ended March 31, 2017, the Company purchased $539 million of guaranteed student loans and $99 million of consumer indirect loans.
At March 31, 2018 and December 31, 2017, the Company had $23.5 billion and $24.3 billion of net eligible loan collateral pledged to the Federal Reserve discount window to support $17.6 billion and $18.2 billion of available, unused borrowing capacity, respectively.
At March 31, 2018 and December 31, 2017, the Company had $38.2 billion and $38.0 billion of net eligible loan collateral pledged to the FHLB of Atlanta to support $30.3 billion and $30.5 billion of available borrowing capacity, respectively. The available FHLB borrowing capacity at March 31, 2018 was used to support $4 million of long-term debt and $4.8 billion of letters of credit issued on the Company's behalf. At December 31, 2017, the available FHLB borrowing capacity was used to support $4 million of long-term debt and $6.7 billion of letters of credit issued on the Company's behalf.
Credit Quality Evaluation
The Company evaluates the credit quality of its loan 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), Adversely Classified, 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 Adversely Classified) and Criticized nonaccruing (which includes a portion of Adversely Classified and 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.
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 March 31, 2018 and December 31, 2017, 29% and 28%, respectively, of guaranteed residential mortgages were current with respect to payments. At March 31, 2018 and December 31, 2017, 77% and 75%, 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)
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Risk rating:
 
 
 
 
 
 
 
 
 
 
 
Pass

$64,453

 

$64,546

 

$5,152

 

$5,126

 

$3,597

 

$3,770

Criticized accruing
1,652

 
1,595

 
154

 
167

 
54

 
33

Criticized nonaccruing
216

 
215

 
46

 
24

 
—

 
1

Total

$66,321

 

$66,356

 

$5,352

 

$5,317

 

$3,651

 

$3,804



 
 Consumer Loans 1
 
Residential Mortgages -
Nonguaranteed
 
Residential Home Equity Products
 
Residential Construction
(Dollars in millions)
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$23,732

 

$23,602

 

$8,621

 

$8,946

 

$204

 

$240

620 - 699
2,655

 
2,721

 
1,174

 
1,242

 
45

 
50

Below 620 2
778

 
813

 
446

 
438

 
7

 
8

Total

$27,165

 

$27,136

 

$10,241

 

$10,626

 

$256

 

$298


 
Other Direct
 
Indirect
 
Credit Cards
(Dollars in millions)
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$8,145

 

$7,929

 

$8,867

 

$9,094

 

$1,034

 

$1,088

620 - 699
755

 
757

 
2,270

 
2,344

 
385

 
395

Below 620 2
41

 
43

 
732

 
702

 
99

 
99

Total

$8,941

 

$8,729

 

$11,869

 

$12,140

 

$1,518

 

$1,582


1 Excludes $6.7 billion and $6.6 billion of guaranteed student loans and $611 million and $560 million of guaranteed residential mortgages at March 31, 2018 and December 31, 2017, 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:

 
March 31, 2018
(Dollars in millions)
Accruing
Current
 
Accruing
30-89 Days
Past Due
 
Accruing
90+ Days
Past Due
 
 Nonaccruing 2
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$66,064

 

$32

 

$9

 

$216

 

$66,321

CRE
5,304

 
2

 
—

 
46

 
5,352

Commercial construction
3,651

 
—

 
—

 
—

 
3,651

Total commercial loans
75,019

 
34

 
9

 
262

 
75,324

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
179

 
53

 
379

 
—

 
611

Residential mortgages - nonguaranteed 1
26,838

 
66

 
8

 
253

 
27,165

Residential home equity products
10,006

 
66

 
—

 
169

 
10,241

Residential construction
240

 
—

 
—

 
16

 
256

Guaranteed student
5,148

 
612

 
933

 
—

 
6,693

Other direct
8,893

 
35

 
5

 
8

 
8,941

Indirect
11,780

 
84

 
1

 
4

 
11,869

Credit cards
1,491

 
14

 
13

 
—

 
1,518

Total consumer loans
64,575

 
930

 
1,339

 
450

 
67,294

Total LHFI

$139,594

 

$964

 

$1,348

 

$712

 

$142,618

1 Includes $188 million of loans measured at fair value, the majority of which were accruing current.
2 Nonaccruing loans past due 90 days or more totaled $417 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. 


 
December 31, 2017
(Dollars in millions)
Accruing
Current
 
Accruing
30-89 Days
Past Due
 
Accruing
90+ Days
Past Due
 
 Nonaccruing 2
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$66,092

 

$42

 

$7

 

$215

 

$66,356

CRE
5,293

 
—

 
—

 
24

 
5,317

Commercial construction
3,803

 
—

 
—

 
1

 
3,804

Total commercial loans
75,188

 
42

 
7

 
240

 
75,477

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
159

 
55

 
346

 
—

 
560

Residential mortgages - nonguaranteed 1
26,778

 
148

 
4

 
206

 
27,136

Residential home equity products
10,348

 
75

 
—

 
203

 
10,626

Residential construction
280

 
7

 
—

 
11

 
298

Guaranteed student
4,946

 
659

 
1,028

 
—

 
6,633

Other direct
8,679

 
36

 
7

 
7

 
8,729

Indirect
12,022

 
111

 
—

 
7

 
12,140

Credit cards
1,556

 
13

 
13

 
—

 
1,582

Total consumer loans
64,768

 
1,104

 
1,398

 
434

 
67,704

Total LHFI

$139,956

 

$1,146

 

$1,405

 

$674

 

$143,181

1 Includes $196 million of loans measured at fair value, the majority of which were accruing current.
2 Nonaccruing loans past due 90 days or more totaled $357 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.


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 loans whose terms have been modified in a TDR are individually evaluated for impairment. Smaller-balance homogeneous loans that are collectively evaluated for impairment and loans 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.

 
March 31, 2018
 
December 31, 2017
(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

$28

 

$20

 

$—

 

$38

 

$35

 

$—

CRE
21

 
21

 
—

 
—

 
—

 
—

Total commercial loans with no ALLL recorded
49

 
41

 
—

 
38

 
35

 
—

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
453

 
355

 
—

 
458

 
363

 
—

Residential construction
12

 
6

 
—

 
15

 
9

 
—

Total consumer loans with no ALLL recorded
465

 
361

 
—

 
473

 
372

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
C&I
157

 
149

 
22

 
127

 
117

 
19

CRE
25

 
21

 
—

 
21

 
21

 
2

Total commercial loans with an ALLL recorded
182

 
170

 
22

 
148

 
138

 
21

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
1,112

 
1,087

 
107

 
1,133

 
1,103

 
113

Residential home equity products
927

 
871

 
52

 
953

 
895

 
54

Residential construction
91

 
89

 
7

 
93

 
90

 
7

Other direct
57

 
58

 
1

 
59

 
59

 
1

Indirect
129

 
128

 
6

 
123

 
122

 
7

Credit cards
27

 
7

 
1

 
26

 
7

 
1

Total consumer loans with an ALLL recorded
2,343

 
2,240

 
174

 
2,387

 
2,276

 
183

Total impaired LHFI

$3,039

 

$2,812

 

$196

 

$3,046

 

$2,821

 

$204

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 both March 31, 2018 and December 31, 2017 were $2.4 billion of accruing TDRs, of which 98% and 96% were current, respectively. See Note 1, “Significant Accounting Policies,” to the Company's 2017 Annual Report on Form 10-K for further information regarding the Company’s loan impairment policy.



 
Three Months Ended March 31
 
2018
 
2017
(Dollars in millions)
Average
Carrying
Value
 
 Interest 1
Income
Recognized
 
Average
Carrying
Value
 
 Interest 1
Income
Recognized
Impaired LHFI with no ALLL recorded:
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
C&I

$20

 

$—

 

$240

 

$1

CRE
21

 
—

 
—

 
—

Total commercial loans with no ALLL recorded
41

 
—

 
240

 
1

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
353

 
4

 
360

 
4

Residential construction
6

 
—

 
8

 
—

Total consumer loans with no ALLL recorded
359

 
4

 
368

 
4

 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
C&I
149

 
1

 
165

 
1

CRE
25

 
—

 
17

 
—

Total commercial loans with an ALLL recorded
174

 
1

 
182

 
1

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
1,093

 
12

 
1,216

 
15

Residential home equity products
873

 
9

 
833

 
8

Residential construction
90

 
1

 
105

 
1

Other direct
57

 
1

 
58

 
1

Indirect
131

 
2

 
108

 
1

Credit cards
7

 
—

 
6

 
—

Total consumer loans with an ALLL recorded
2,251

 
25

 
2,326

 
26

Total impaired LHFI

$2,825

 

$30

 

$3,116

 

$32

1 Of the interest income recognized during each of the three months ended March 31, 2018 and 2017, cash basis interest income was less than $1 million.


NPAs are presented in the following table:

(Dollars in millions)
March 31, 2018
 
December 31, 2017
Nonaccrual loans/NPLs:
 
 
 
Commercial loans:
 
 
 
C&I

$216

 

$215

CRE
46

 
24

Commercial construction
—

 
1

Consumer loans:
 
 
 
Residential mortgages - nonguaranteed
253

 
206

Residential home equity products
169

 
203

Residential construction
16

 
11

Other direct
8

 
7

Indirect
4

 
7

Total nonaccrual loans/NPLs 1
712

 
674

OREO 2
59

 
57

Other repossessed assets
7

 
10

Total NPAs

$778

 

$741

1 Nonaccruing restructured loans are included in total nonaccrual loans/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 $45 million at March 31, 2018 and December 31, 2017, respectively.



The Company's recorded investment of nonaccruing loans secured by residential real estate properties for which formal foreclosure proceedings were in process at March 31, 2018 and December 31, 2017 was $81 million and $73 million, respectively. The Company's recorded investment of accruing loans secured by residential real estate properties for which formal foreclosure proceedings were in process at March 31, 2018 and December 31, 2017 was $106 million and $101 million, of which $99 million and $97 million were insured by the FHA or guaranteed by the VA, respectively.
At March 31, 2018, OREO included $54 million of foreclosed residential real estate properties and $3 million of foreclosed commercial real estate properties, with the remaining $2 million related to land.
At December 31, 2017, OREO included $51 million of foreclosed residential real estate properties and $4 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 March 31, 2018 and December 31, 2017, the Company had $2 million 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 March 31, 2018 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
46

 

$—

 

$56

 

$56

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
61

 
9

 
8

 
17

Residential home equity products
136

 
—

 
13

 
13

Other direct
114

 
—

 
1

 
1

Indirect
778

 
—

 
20

 
20

Credit cards
308

 
1

 
1

 
2

Total TDR additions
1,443

 

$10

 

$99

 

$109

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

 
Three Months Ended March 31, 2017 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
30

 

$—

 

$41

 

$41

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
34

 
4

 
2

 
6

Residential home equity products
655

 
1

 
66

 
67

Other direct
110

 
—

 
1

 
1

Indirect
547

 
—

 
14

 
14

Credit cards
235

 
1

 
—

 
1

Total TDR additions
1,611

 

$6

 

$124

 

$130

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

TDRs that defaulted during the three months ended March 31, 2018 and 2017, which were first modified within the previous 12 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 Company operates primarily within Florida, Georgia, Virginia, Maryland, and North Carolina. The Company’s total cross-border outstanding loans were $1.4 billion at both March 31, 2018 and December 31, 2017.
With respect to collateral concentration, the Company's recorded investment in residential real estate secured LHFI totaled $38.3 billion at March 31, 2018 and represented 27% of total LHFI. At December 31, 2017, the Company's recorded investment in residential real estate secured LHFI totaled $38.6 billion and represented 27% of total LHFI. Additionally, at March 31, 2018 and December 31, 2017, the Company had $10.2 billion and $10.1 billion in commitments to extend credit on home equity lines and $3.4 billion and $3.0 billion in residential mortgage commitments outstanding, respectively. At March 31, 2018 and December 31, 2017, 2% and 1%, respectively, of the Company's residential real estate secured LHFI were insured by the FHA or guaranteed by the VA.
v3.8.0.1
Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2018
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 is summarized in the following table:
 
Three Months Ended March 31
(Dollars in millions)
2018
 
2017
Balance, beginning of period

$1,814

 

$1,776

Provision for loan losses
38

 
117

Provision for unfunded commitments
(10
)
 
2

Loan charge-offs
(106
)
 
(146
)
Loan recoveries
27

 
34

Balance, end of period

$1,763

 

$1,783

 
 
 
 
Components:
 
 
 
ALLL

$1,694

 

$1,714

Unfunded commitments reserve 1
69

 
69

Allowance for credit losses

$1,763

 

$1,783


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

Activity in the ALLL by loan segment is presented in the following tables:
 
Three Months Ended March 31, 2018
(Dollars in millions)
Commercial
Loans
 
Consumer
Loans
 
Total
Balance, beginning of period

$1,101

 

$634

 

$1,735

Provision for loan losses
(16
)
 
54

 
38

Loan charge-offs
(23
)
 
(83
)
 
(106
)
Loan recoveries
6

 
21

 
27

Balance, end of period

$1,068

 

$626

 

$1,694

 
 
 
 
 
 
 
Three Months Ended March 31, 2017
(Dollars in millions)
Commercial
Loans
 
Consumer
Loans
 
Total
Balance, beginning of period

$1,124

 

$585

 

$1,709

Provision for loan losses
46

 
71

 
117

Loan charge-offs
(63
)
 
(83
)
 
(146
)
Loan recoveries
13

 
21

 
34

Balance, end of period

$1,120

 

$594

 

$1,714



As discussed in Note 1, “Significant Accounting Policies,” to the Company's 2017 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 loans with similar risk characteristics. No allowance is required for loans measured at fair value. Additionally, the Company records an immaterial allowance for loan 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 is presented in the following tables:
 
March 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

$211

 

$22

 

$2,601

 

$174

 

$2,812

 

$196

Collectively evaluated
75,113

 
1,046

 
64,505

 
452

 
139,618

 
1,498

Total evaluated
75,324

 
1,068

 
67,106

 
626

 
142,430

 
1,694

LHFI measured at fair value
—

 
—

 
188

 
—

 
188

 
—

Total LHFI

$75,324

 

$1,068

 

$67,294

 

$626

 

$142,618

 

$1,694


 
December 31, 2017
 
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

$173

 

$21

 

$2,648

 

$183

 

$2,821

 

$204

Collectively evaluated
75,304

 
1,080

 
64,860

 
451

 
140,164

 
1,531

Total evaluated
75,477

 
1,101

 
67,508

 
634

 
142,985

 
1,735

LHFI measured at fair value
—

 
—

 
196

 
—

 
196

 
—

Total LHFI

$75,477

 

$1,101

 

$67,704

 

$634

 

$143,181

 

$1,735
v3.8.0.1
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
NOTE 8 – GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
The Company conducts a goodwill impairment test at the reporting unit level at least annually, 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. See Note 1, "Significant Accounting Policies," to the Company's 2017 Annual Report on Form 10-K for additional information regarding the Company's goodwill accounting policy.
In the first quarter of 2018, the Company performed a qualitative goodwill assessment on its Consumer and Wholesale reporting units, considering changes in key assumptions as well as other events and circumstances occurring since the most recent annual goodwill impairment test performed as of October 1, 2017. The Company concluded, based on the totality of factors observed, that it is not more-likely-than-not that the fair values of its reportable segments are less than their respective carrying values. Accordingly, goodwill was not required to be quantitatively tested for impairment during the three months ended March 31, 2018.
There were no material changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2018 and 2017.
Other Intangible Assets
Changes in the carrying amounts of other intangible assets for the three months ended March 31 are presented in the following table:
(Dollars in millions)
Residential MSRs - Fair Value
 
Commercial Mortgage Servicing Rights and Other
 
Total
Balance, January 1, 2018

$1,710

 

$81

 

$1,791

Amortization 1
—

 
(5
)
 
(5
)
Servicing rights originated
76

 
4

 
80

Servicing rights purchased
74

 
—

 
74

Changes in fair value:
 
 
 
 

Due to changes in inputs and assumptions 2
111

 
—

 
111

Other changes in fair value 3
(55
)
 
—

 
(55
)
Balance, March 31, 2018

$1,916

 

$80

 

$1,996

 
 
 
 
 
 
Balance, January 1, 2017

$1,572

 

$85

 

$1,657

Amortization 1
—

 
(5
)
 
(5
)
Servicing rights originated
96

 
5

 
101

Changes in fair value:
 
 
 
 


Due to changes in inputs and assumptions 2
27

 
—

 
27

Other changes in fair value 3
(50
)
 
—

 
(50
)
Other 4
—

 
(1
)
 
(1
)
Balance, March 31, 2017

$1,645

 

$84

 

$1,729

1 Does not include expense associated with non-qualified community development investments. See Note 10, "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 Represents measurement period adjustment on other intangible assets acquired previously in the Pillar acquisition.


The gross carrying value and accumulated amortization of other intangible assets are presented in the following table:
 
March 31, 2018
 
December 31, 2017
(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 mortgage servicing rights

$83

 

($19
)
 

$64

 

$79

 

($14
)
 

$65

Other (definite-lived)
17

 
(13
)
 
4

 
32

 
(28
)
 
4

Unamortized other intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Residential MSRs (carried at fair value)
1,916

 
—

 
1,916

 
1,710

 
—

 
1,710

Other (indefinite-lived)
12

 
—

 
12

 
12

 
—

 
12

Total other intangible assets

$2,028

 

($32
)
 

$1,996

 

$1,833

 

($42
)
 

$1,791

1 Excludes fully amortized other intangible assets.
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 the only material servicing assets 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. Such income earned for the three months ended March 31, 2018 and 2017 totaled $107 million and $101 million, respectively. These amounts are reported in Mortgage servicing related income in the Consolidated Statements of Income.
At March 31, 2018 and December 31, 2017, the total UPB of residential mortgage loans serviced was $164.7 billion and $165.5 billion, respectively. Included in these amounts at March 31, 2018 and December 31, 2017 were $135.3 billion and $136.1 billion, respectively, of loans serviced for third parties. The Company purchased MSRs on residential loans with a UPB of $5.9 billion during the three months ended March 31, 2018; however, these loans are not reflected in the UPB amounts above as the transfer of servicing is scheduled for the second quarter of 2018. No MSRs on residential loans were purchased during the three months ended March 31, 2017. During the three months ended March 31, 2018 and 2017, the Company sold MSRs on residential loans, at a price approximating their fair value, with a UPB of $102 million and $64 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 quarterly, evaluating these inputs compared to various market and empirical data sources. Changes to valuation model inputs are reflected in the periods' results. See Note 16, “Fair Value Election and Measurement,” for further information regarding the Company's residential MSR valuation methodology.
A summary of the key inputs used to estimate the fair value of the Company’s residential MSRs at March 31, 2018 and December 31, 2017, and the sensitivity of the fair values to immediate 10% and 20% adverse changes in those inputs, are presented in the following table.
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Fair value of residential MSRs

$1,916

 

$1,710

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

$89

 

$85

Decline in fair value from 20% adverse change
169

 
160

Option adjusted spread (annual)
4
%
 
4
%
Decline in fair value from 10% adverse change

$53

 

$47

Decline in fair value from 20% adverse change
101

 
90

Weighted-average life (in years)
5.6

 
5.4

Weighted-average coupon
4.0
%
 
3.9
%

These residential MSR sensitivities 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 sensitivities. The sensitivities do not reflect the effect of hedging activity undertaken by the Company to offset changes in the fair value of MSRs. See Note 15, “Derivative Financial Instruments,” for further information regarding these hedging activities.
Commercial Mortgage Servicing Rights
Income earned by the Company on its commercial mortgage servicing rights is derived primarily from contractually specified servicing fees and other ancillary fees, and is reported in Commercial real estate related income in the Consolidated Statements of Income. Such income earned for the three months ended March 31, 2018 and 2017 totaled $7 million and $5 million, respectively.
The Company also earns income from subservicing certain third party commercial mortgages for which the Company does not record servicing rights, which is reported in Commercial real estate related income in the Consolidated Statements of Income. Such income earned for the three months ended March 31, 2018 and 2017 totaled $3 million and $4 million, respectively.
At March 31, 2018 and December 31, 2017, the total UPB of commercial mortgage loans serviced for third parties was $31.1 billion and $30.1 billion, respectively. Included in these amounts at both March 31, 2018 and December 31, 2017 were $5.8 billion of loans serviced for third parties for which the Company records servicing rights, and $25.3 billion and $24.3 billion, respectively, of loans subserviced for third parties for which the Company does not record servicing rights. No commercial mortgage servicing rights were purchased or sold during the three months ended March 31, 2018 and 2017.
Commercial mortgage servicing rights are accounted for at amortized cost and are monitored for impairment on an ongoing basis. The Company calculates the fair value of commercial servicing rights 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 mortgage servicing rights were $64 million and $65 million at March 31, 2018 and December 31, 2017, respectively.
A summary of the key inputs used to estimate the fair value of the Company’s commercial mortgage servicing rights at March 31, 2018 and December 31, 2017, and the sensitivity of the fair values to immediate 10% and 20% adverse changes in those inputs, are presented in the following table.
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Fair value of commercial mortgage servicing rights

$76

 

$75

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)
6
%
 
7
%
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)
7.2

 
7.0

Float earnings rate (annual)
1.1
%
 
1.1
%


As with residential MSRs, these commercial mortgage servicing right sensitivities are hypothetical and should be used with caution.
v3.8.0.1
Other Assets Other Assets (Notes)
 3 Months Ended
Mar. 31, 2018
Other Assets Disclosure [Abstract]  
Other Assets Disclosure [Text Block]
NOTE 9 - OTHER ASSETS
The components of other assets are presented in the following table:
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Equity securities with readily determinable fair values:
 
 
 
Mutual fund investments 1

$135

 

$49

Other equity 1
8

 
7

Equity securities without readily determinable fair values:
 
 
 
FHLB of Atlanta stock 1
15

 
15

Federal Reserve Bank of Atlanta stock 1
403

 
403

Other equity
52

 
26

Lease assets
1,567

 
1,528

Bank-owned life insurance
1,402

 
1,411

Community development investments 2
1,383

 
1,331

Accrued income
936

 
880

Accounts receivable
768

 
2,201

Pension assets, net
476

 
464

Prepaid expenses
279

 
319

OREO
59

 
57

Other
796

 
727

Total other assets

$8,279

 

$9,418

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
2 See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.
Pursuant to the adoption of ASU 2016-01 on January 1, 2018, the Company elected the measurement alternative for measuring its other equity securities without readily determinable fair values. As reflected in the preceding table, the carrying amount of these other equity securities was $52 million and $26 million at March 31, 2018 and December 31, 2017, respectively. During the three months ended March 31, 2018, an observable transaction occurred relating to these equity securities, which resulted in a remeasurement gain of $23 million recognized in Other noninterest income in the Company's Consolidated Statements of Income. There were no remeasurement losses on these equity securities during the three months ended March 31, 2018. See the “Equity Securities” and “Accounting Pronouncements” sections of Note 1, “Significant Accounting Policies,” for additional information on the Company's adoption of ASU 2016-01 and for policy updates related to equity securities.
Lease assets consist primarily of operating leases in which the Company is the lessor. In these scenarios, the Company leases assets and receives periodic rental payments. Depreciation on the leased asset is recognized over the term of the operating lease. Any impairment on the leased asset is recognized to the extent that the carrying value of the asset is not recoverable and is greater than its fair value.
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 long-term retirement and other employee benefits costs.
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.
v3.8.0.1
Certain Transfers of Financial Assets and Variable Interest Entities
 3 Months Ended
Mar. 31, 2018
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract]  
Transfers and Servicing of Financial Assets [Text Block]
NOTE 10 - 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 and corporate loans, as discussed in the following section, "Transfers of Financial Assets." Cash receipts on beneficial interests held related to these transfers were immaterial for both the three months ended March 31, 2018 and 2017.
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 14, “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 three months ended March 31, 2018 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 three months ended March 31, 2018 that changed the Company’s sale conclusion with regards to previously transferred residential mortgage loans, guaranteed student loans, or commercial and corporate 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 losses of $13 million and $4 million for the three months ended March 31, 2018 and 2017, 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 15, "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 14, “Guarantees,” for additional information regarding representations and warranties.
In a limited number of securitizations, the Company has received securities in addition to cash in exchange for the transferred loans, while also retaining servicing rights. The securities received are measured at fair value and classified as securities AFS. At March 31, 2018 and December 31, 2017, the fair value of securities received totaled $21 million and $22 million, respectively.
The Company evaluates securitization entities in which it has a VI for potential consolidation under the VIE consolidation model. Notwithstanding the Company's role as servicer, the Company typically does not have power over the securitization entities as a result of rights held by the master servicer. In certain transactions, the Company does have power as the servicer, but does not have an obligation to absorb losses, or the right to receive benefits, that could potentially be significant. In all such cases, the Company does not consolidate the securitization entity. Total assets of the unconsolidated entities in which the Company has a VI were $142 million and $147 million at March 31, 2018 and December 31, 2017, respectively.
The Company’s maximum exposure to loss related to these unconsolidated residential mortgage loan securitizations is comprised of the loss of value of any interests it retains, which was $21 million and $22 million at March 31, 2018 and December 31, 2017, respectively, and any repurchase obligations or other losses it incurs as a result of any guarantees related to these securitizations, which is discussed further in Note 14, “Guarantees.”
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 March 31, 2018 and December 31, 2017, the Company’s Consolidated Balance Sheets reflected $185 million and $192 million of assets held by the securitization entity and $182 million and $189 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 and Corporate 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 $11 million for the three months ended March 31, 2018 and 2017, 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 14, “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 March 31, 2018 and December 31, 2017, as well as the related net charge-offs for the three months ended March 31, 2018 and 2017.
 
Portfolio Balance
 
Past Due and Nonaccrual
 
Net Charge-offs
 
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
Three Months Ended March 31
 
(Dollars in millions)
 
2018
 
2017
 
LHFI portfolio:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial

$75,324

 

$75,477

 

$271

 

$247

 

$17

 

$50

 
Consumer
67,294

 
67,704

 
1,789

 
1,832

 
62

 
62

 
Total LHFI portfolio
142,618

 
143,181

 
2,060

 
2,079

 
79

 
112

 
Managed securitized loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial 1
5,798

 
5,760

 
—

 
—

 
—

 
—

 
Consumer
133,489

 
134,160

 
308

 
171

 
2

2 
3

2 
Total managed securitized loans
139,287

 
139,920

 
308

 
171

 
2

 
3

 
Managed unsecuritized loans 3
2,089

 
2,200

 
340

 
340

 
—

 
—

 
Total managed loans

$283,994

 

$285,301

 

$2,708

 

$2,590

 

$81

 

$115

 

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 $541 million and $602 million of managed securitized loans at March 31, 2018 and December 31, 2017, respectively. Net charge-off data is not reported to the Company for the remaining balance of $132.9 billion and $133.6 billion of managed securitized loans at March 31, 2018 and December 31, 2017, 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.
Total Return Swaps
At both March 31, 2018 and December 31, 2017, the outstanding notional amounts of the Company's VIE-facing TRS contracts totaled $1.7 billion and related senior financing outstanding to VIEs totaled $1.7 billion. 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 third party clients. For additional information on the Company’s TRS contracts and its involvement with these VIEs, see Note 15, “Derivative Financial Instruments,” as well as Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," to the Company's 2017 Annual Report on Form 10-K.

Community Development Investments
As part of its community reinvestment initiatives, the Company invests in multi-family affordable housing developments and other community development entities as a limited partner and/or a debt provider. These investments are 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 the Provision for income taxes 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 affordable housing partnerships when it invests as a limited partner and there is a third party general partner. The investments are accounted for in accordance with the accounting guidance for investments in affordable housing projects. 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. Assets of $2.3 billion in these and other community development partnerships were not included in the Consolidated Balance Sheets at both March 31, 2018 and December 31, 2017. The Company's limited partner interests had a carrying value of $1.1 billion at both March 31, 2018 and December 31, 2017. The Company’s maximum exposure to loss related to these investments totaled $1.4 billion at both March 31, 2018 and December 31, 2017. The Company’s maximum exposure to loss would result from the loss of its limited partner investments, net of liabilities, along with $344 million and $350 million of loans or interest-rate swap fair value exposures issued by the Company to the entities at March 31, 2018 and December 31, 2017, respectively. The remaining exposure to loss is primarily attributable to unfunded equity commitments that the Company is required to fund if certain conditions are met.
The Company also owns noncontrolling interests in funds whose purpose is to invest in community developments. At March 31, 2018 and December 31, 2017, the Company's investment in these funds totaled $317 million and $278 million, respectively. The Company's maximum exposure to loss on its investment in these funds is comprised of its equity investments in the funds, loans issued, and any additional unfunded equity commitments, which totaled $665 million and $643 million at March 31, 2018 and December 31, 2017, respectively.
During the three months ended March 31, 2018 and 2017, the Company recognized $30 million and $25 million of tax credits for qualified affordable housing projects, and $32 million and $24 million of amortization on these qualified affordable housing projects, respectively. This amortization, net of the related tax benefits, is recorded in the provision for income taxes.
Certain of the Company's community development investments do not qualify as affordable housing projects for accounting purposes. The Company recognized tax credits for these investments of $18 million and $17 million during the three months ended March 31, 2018 and 2017, respectively. Amortization recognized on these investments totaled $14 million and $12 million during the three months ended March 31, 2018 and 2017, respectively, recorded in Amortization in the Company's Consolidated Statements of Income.
v3.8.0.1
Net Income Per Common Share
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Net Income/(Loss) Per Share
NOTE 11 – NET INCOME PER COMMON SHARE
Equivalent shares of less than 1 million related to common stock options and common stock warrants outstanding at March 31, 2017 were excluded from the computations of diluted net income per average common share because they would have been anti-dilutive.
Reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding are presented in the following table.
 
Three Months Ended March 31
(Dollars and shares in millions, except per share data)
2018
 
2017
Net income

$643

 

$468

Less:
 
 
 
Preferred stock dividends
(31
)
 
(17
)
Net income available to common shareholders

$612

 

$451

 
 
 
 
Average common shares outstanding - basic
468.7

 
490.1

Add dilutive securities:
 
 
 
RSUs
2.8

 
3.2

Common stock warrants and restricted stock
1.4

 
1.8

Stock options
0.7

 
0.9

Average common shares outstanding - diluted
473.6

 
496.0

 
 
 
 
Net income per average common share - diluted

$1.29

 

$0.91

Net income per average common share - basic
1.31

 
0.92
v3.8.0.1
Income Taxes
 3 Months Ended
Mar. 31, 2018
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
NOTE 12 - INCOME TAXES
For the three months ended March 31, 2018 and 2017, the provision for income taxes was $147 million and $159 million, representing effective tax rates of 19% and 25%, respectively. The effective tax rate for the three months ended March 31, 2018 was favorably impacted by a net $4 million discrete income tax benefit, while the effective tax rate for the three months ended March 31, 2017 was favorably impacted by a net $22 million discrete income tax benefit related primarily to share-based compensation.
The net discrete income tax benefit for the three months ended March 31, 2018 was driven by a $20 million tax benefit for share-based compensation and a $19 million tax benefit for an adjustment to the Company's December 31, 2017 remeasurement of its estimated DTAs and DTLs at the reduced federal corporate income tax rate of 21%. These income tax benefits were offset largely by a $35 million discrete tax expense related to an increase in the valuation allowance recorded for STM's state carryforwards. Any additional adjustment to the Company's December 31, 2017 remeasurement of its estimated DTAs and DTLs would be recorded as an adjustment to the provision for income taxes in 2018 in the period the adjustment amount is determined.
At March 31, 2018 and December 31, 2017, the Company had a valuation allowance recorded against its state carryforwards and certain state DTAs of $179 million and $143 million, respectively. This increase in the valuation allowance was due primarily to the impact of the pending merger of STM and the Bank on the future realization of STM's state NOL carryforwards. See Note 18, “Business Segment Reporting,” for additional information regarding the pending merger of STM and the Bank.
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 from community reinvestment activities, and amortization expense related to qualified affordable housing investment costs. The Company calculated the provision for income taxes for the three months ended March 31, 2018 and 2017 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
v3.8.0.1
Employee Benefit Plans
 3 Months Ended
Mar. 31, 2018
Defined Contribution Plan Disclosure [Line Items]  
Employee Benefit Plans
NOTE 13 - 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 15, "Employee Benefit Plans," to the Company's 2017 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 March 31
(Dollars in millions)
2018
 
2017
RSUs

$39

 

$34

Phantom stock units 1
17

 
24

Total stock-based compensation expense

$56

 

$58

 
 
 
 
Stock-based compensation tax benefit 2

$13

 

$22

1 Phantom stock units are settled in cash. The Company paid $75 million and $76 million during the three months ended March 31, 2018 and 2017, 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:
 
Three Months Ended March 31
 
Pension Benefits 1
 
Other Postretirement Benefits
(Dollars in millions)
2018
 
2017
 
2018
 
2017
Service cost

$1

 

$1

 

$—

 

$—

Interest cost
23

 
24

 
—

 
—

Expected return on plan assets
(47
)
 
(48
)
 
(1
)
 
(1
)
Amortization of prior service credit
—

 
—

 
(2
)
 
(1
)
Amortization of actuarial loss
6

 
6

 
—

 
—

Net periodic benefit

($17
)
 

($17
)
 

($3
)
 

($2
)
1 Administrative fees are recognized in service cost for each of the periods presented.


In the second quarter of 2017, the Company amended its NCF Retirement Plan in accordance with its decision to terminate the pension plan effective as of July 31, 2017. The NCF pension plan termination is expected to be completed by the end of 2018 and the Company is in process of evaluating the impact of the termination and expected future settlement accounting on its Consolidated Financial Statements and related disclosures.
v3.8.0.1
Guarantees
 3 Months Ended
Mar. 31, 2018
Guarantees [Abstract]  
Guarantees
NOTE 14 – 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 March 31, 2018. 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 15, “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 March 31, 2018 and December 31, 2017, the maximum potential exposure to loss related to the Company's issued letters of credit was $2.5 billion and $2.6 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 management of credit risk 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 March 31, 2018 and December 31, 2017.

Loan Sales and Servicing
STM, a consolidated subsidiary of 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 Company’s reserve for residential mortgage loan repurchases was $39 million and $40 million at March 31, 2018 and 2017, respectively, and there were no changes in the Company’s reserve for residential mortgage loan repurchases during the three months ended March 31, 2018 and 2017. 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 provision/(benefit) is recognized in Mortgage production related income in the Consolidated Statements of Income. See Note 17, "Contingencies," for additional information on current legal matters related to loan sales.
The following table summarizes the carrying value of the Company's outstanding repurchased residential mortgage loans:
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Outstanding repurchased residential mortgage loans:
Performing LHFI

$197

 

$203

Nonperforming LHFI
18

 
16

Total carrying value of outstanding repurchased residential mortgages

$215

 

$219



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 $3.3 billion and $3.4 billion at March 31, 2018 and December 31, 2017, respectively. The maximum potential exposure to loss was $940 million and $962 million at March 31, 2018 and December 31, 2017, respectively. Using probability of default and severity of loss estimates, the Company's loss share liability was $11 million at both March 31, 2018 and December 31, 2017, 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 several 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, 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.
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 the probability of certain litigation scenarios and the timing of the resolution of the Litigation due in large part to the aforementioned decision by the U.S. Court of Appeals for the Second Circuit. The fair value of the derivative liability was $15 million at both March 31, 2018 and December 31, 2017. 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.
v3.8.0.1
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
NOTE 15 - 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 MRM 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 as well as 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 March 31, 2018, the economic exposure of these net derivative asset positions was $510 million, reflecting $936 million of net derivative gains, adjusted for cash and other collateral of $426 million that the Company held in relation to these positions. At December 31, 2017, the economic exposure of net derivative asset positions was $541 million, reflecting $940 million of net derivative gains, adjusted for cash and other collateral held of $399 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 and itself, as well as its net exposure, which considers legally enforceable master netting agreements and collateral along with remaining maturities. The expected loss of 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 Company’s own credit risk on derivative liability positions, the DVA, the Company uses probabilities of default from observable, sector/rating based CDS data. The Company adjusted the net fair value of its derivative contracts for estimates of both counterparty credit risk and its own credit risk by approximately $3 million and $5 million at March 31, 2018 and December 31, 2017, respectively. For additional information on the Company's fair value measurements, see Note 16, "Fair Value Election and Measurement."
Currently, the majority of the Company’s derivatives contain contingencies that relate to the creditworthiness of the Bank. These contingencies, which are contained in industry standard master netting agreements, may be considered events of default. Should the Bank be in default under any of these provisions, the Bank’s counterparties would be permitted to close out transactions with the Bank 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 counterparties would have the right to apply any collateral posted by the Bank against any net amount owed by the Bank. Additionally, certain of the Company’s derivative liability positions, totaling $934 million and $1.1 billion in fair value at March 31, 2018 and December 31, 2017, 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 March 31, 2018, the Bank held senior long-term debt credit ratings of Baal/A-/A- from Moody’s, S&P, and Fitch, respectively. At March 31, 2018, 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 $17 million at March 31, 2018. At March 31, 2018, $922 million in fair value of derivative liabilities were subject to CSAs, against which the Bank has posted $910 million in collateral, primarily in the form of cash. If requested by the counterparty pursuant to the terms of the CSA, the Bank would be required to post additional collateral of approximately $1 million against these contracts if the Bank were downgraded to Baa2/BBB+. Further downgrades to Baa3/BBB would require the Bank to post an additional $4 million of collateral. Any further downgrades below Ba1/BBB- do not contain predetermined collateral posting levels.
Notional and Fair Value of Derivative Positions
The following tables present the Company’s derivative positions at March 31, 2018 and December 31, 2017. The notional amounts in the tables are presented on a gross basis and have been classified within derivative assets or derivative liabilities based on the estimated fair value of the individual contract at March 31, 2018 and December 31, 2017. 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. For contracts constituting a combination of options that contain a written option and a purchased option (such as a collar), the notional amount of each option is presented separately, with the purchased notional amount generally being presented as a derivative asset and the written notional amount being presented as a derivative liability. For other contracts that contain a combination of options, the fair value is generally presented as a single value with the purchased notional amount if the combined fair value is positive, and with the written notional amount if the combined fair value is negative.

 
March 31, 2018
 
Asset Derivatives
 
Liability Derivatives
(Dollars in millions)
Notional
 Amounts 1
 
Fair
Value
 
Notional
 Amounts 1
 
Fair
Value
Derivative instruments designated in cash flow hedging relationships 2
 
 
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI

$9,250

 

$2

 

$2,850

 

$—

 
 
 
 
 
 
 
 
Derivative instruments designated in fair value hedging relationships 3
 
 
 
 
 
 
 
Interest rate contracts hedging fixed rate debt
4,250

 
1

 
2,605

 
—

Interest rate contracts hedging brokered time deposits
30

 
—

 
30

 
—

Subtotal
4,280

 
1

 
2,635

 
—

 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments 4
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
Residential MSRs 5
15,504

 
30

 
19,420

 
11

LHFS, IRLCs 6
3,413

 
13

 
3,111

 
10

LHFI
—

 
—

 
175

 
—

Trading activity 7
74,322

 
708

 
52,545

 
870

Foreign exchange rate contracts hedging loans and trading activity
4,054

 
133

 
3,676

 
121

Credit contracts hedging:
 
 
 
 
 
 
 
LHFI
—

 
—

 
585

 
9

Trading activity 8
1,661

 
22

 
1,673

 
19

Equity contracts hedging trading activity 7
15,050

 
2,070

 
21,964

 
2,372

Other contracts:
 
 
 
 
 
 
 
IRLCs and other 9
1,624

 
18

 
382

 
18

Commodity derivatives
755

 
77

 
748

 
75

Subtotal
116,383

 
3,071

 
104,279

 
3,505

Total derivative instruments

$129,913

 

$3,074

 

$109,764

 

$3,505

 
 
 
 
 
 
 
 
Total gross derivative instruments, before netting
 
 

$3,074

 
 
 

$3,505

Less: Legally enforceable master netting agreements
 
 
(2,009
)
 
 
 
(2,009
)
Less: Cash collateral received/paid
 
 
(408
)
 
 
 
(916
)
Total derivative instruments, after netting
 
 

$657

 
 
 

$580

1 For centrally-cleared derivatives, notional amounts are presented based on the fair value of the related derivative asset or derivative liability after applying variation margin.
2 See “Cash Flow Hedges” in this Note for further discussion.
3 See “Fair Value Hedges” in this Note for further discussion.
4 See “Economic Hedging and Trading Activities” in this Note for further discussion.
5 Amount includes $2.0 billion of notional amounts related to interest rate futures. 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 Amount includes $330 million of notional amounts related to interest rate futures. 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 Amounts include $9.7 billion of notional amounts related to interest rate futures and $1.3 billion of notional amounts related to equity futures. 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. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.
8 Asset and liability amounts include $5 million and $17 million, respectively, of notional amounts from purchased and written credit risk participation agreements, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
9 Includes $49 million notional amount that is based on the 3.2 million of Visa Class B shares, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 14, “Guarantees” for additional information.


 
December 31, 2017
 
Asset Derivatives
 
Liability Derivatives
(Dollars in millions)
Notional
Amounts
 
Fair
Value
 
Notional
Amounts
 
Fair
Value
Derivative instruments designated in cash flow hedging relationships 1
 
 
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI

$5,850

 

$2

 

$8,350

 

$252

 
 
 
 
 
 
 
 
Derivative instruments designated in fair value hedging relationships 2
 
 
 
 
 
 
 
Interest rate contracts hedging fixed rate debt
1,250

 
1

 
4,670

 
58

Interest rate contracts hedging brokered time deposits
30

 
—

 
30

 
—

Subtotal
1,280

 
1

 
4,700

 
58

 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments 3
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
Residential MSRs 4
31,895

 
119

 
10,126

 
119

LHFS, IRLCs 5
4,550

 
9

 
3,040

 
6

LHFI
90

 
2

 
85

 
2

Trading activity 6
78,223

 
1,066

 
48,143

 
946

Foreign exchange rate contracts hedging loans and trading activity
3,409

 
110

 
3,649

 
102

Credit contracts hedging:
 
 
 
 
 
 
 
LHFI
—

 
—

 
515

 
11

Trading activity 7
1,721

 
15

 
1,733

 
12

Equity contracts hedging trading activity 6
13,837

 
2,499

 
25,070

 
2,857

Other contracts:
 
 
 
 
 
 
 
IRLCs and other 8
1,671

 
18

 
346

 
16

Commodity derivatives
712

 
63

 
710

 
61

Subtotal
136,108

 
3,901

 
93,417

 
4,132

Total derivative instruments

$143,238

 

$3,904

 

$106,467

 

$4,442

 
 
 
 
 
 
 
 
Total gross derivative instruments, before netting
 
 

$3,904

 
 
 

$4,442

Less: Legally enforceable master netting agreements
 
 
(2,731
)
 
 
 
(2,731
)
Less: Cash collateral received/paid
 
 
(371
)
 
 
 
(1,303
)
Total derivative instruments, after netting
 
 

$802

 
 
 

$408

1 See “Cash Flow Hedges” in this Note for further discussion.
2 See “Fair Value Hedges” in this Note for further discussion.
3 See “Economic Hedging and Trading Activities” in this Note for further discussion.
4 Amount includes $16.6 billion of notional amounts related to interest rate futures. 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 Amount includes $190 million of notional amounts related to interest rate futures. 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 Amounts include $9.8 billion of notional amounts related to interest rate futures and $1.2 billion of notional amounts related to equity futures. 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. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.
7 Asset and liability amounts include $4 million and $11 million, respectively, of notional amounts from purchased and written credit risk participation agreements, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
8 Includes $49 million notional amount that is based on the 3.2 million of Visa Class B shares, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 14, “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. Any payments, deliveries, or other transfers may be applied against each other and netted.
The following tables present total gross derivative instrument assets and liabilities at March 31, 2018 and December 31, 2017, 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
March 31, 2018
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,805

 

$2,279

 

$526

 

$18

 

$508

Derivatives not subject to master netting arrangement or similar arrangement
17

 
—

 
17

 
—

 
17

Exchange traded derivatives
252

 
138

 
114

 
—

 
114

Total derivative instrument assets

$3,074

 

$2,417

 

$657

1 

$18

 

$639

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

$3,253

 

$2,787

 

$466

 

$34

 

$432

Derivatives not subject to master netting arrangement or similar arrangement
114

 
—

 
114

 
—

 
114

Exchange traded derivatives
138

 
138

 
—

 
—

 
—

Total derivative instrument liabilities

$3,505

 

$2,925

 

$580

2 

$34

 

$546

 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$3,491

 

$2,923

 

$568

 

$28

 

$540

Derivatives not subject to master netting arrangement or similar arrangement
18

 
—

 
18

 
—

 
18

Exchange traded derivatives
395

 
179

 
216

 
—

 
216

Total derivative instrument assets

$3,904

 

$3,102

 

$802

1 

$28

 

$774

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

$4,128

 

$3,855

 

$273

 

$27

 

$246

Derivatives not subject to master netting arrangement or similar arrangement
130

 
—

 
130

 
—

 
130

Exchange traded derivatives
184

 
179

 
5

 
—

 
5

Total derivative instrument liabilities

$4,442

 

$4,034

 

$408

2 

$27

 

$381

1 At March 31, 2018, $657 million, net of $408 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
2 At March 31, 2018, $580 million, net of $916 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion 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. Consistent with this objective, the Company reflects the accrued contractual interest on the hedged item and the related swaps as part of current period interest expense. There were no components of derivative gains or losses excluded in the Company’s assessment of hedge effectiveness related to the fair value hedges.
Beginning January 1, 2018, the Company early adopted ASU 2017-12 and modified its measurement methodology for certain hedged items designated under fair value hedge relationships. The Company elected to perform its subsequent assessments of hedge effectiveness using a qualitative, rather than a quantitative, approach. The adoption resulted in an immaterial cumulative effect adjustment to the opening balance of retained earnings and a basis adjustment to the related hedged items. For additional information on the Company's adoption of ASU 2017-12 and related policy updates, see Note 1, “Significant Accounting Policies.”
    
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 benchmark interest rate risk associated with floating rate loans. For the three months ended March 31, 2018, the amount of pre-tax loss recognized in OCI on derivative instruments was $165 million. At both March 31, 2018 and December 31, 2017, the maturities for hedges of floating rate loans ranged from less than one year to five years, with the weighted average being 3.6 years. These hedges have been highly effective in offsetting the designated risks. At March 31, 2018, $75 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.


Pursuant to the adoption of ASU 2017-12, 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 for the three months ended March 31, 2018. For the three months ended March 31, 2017 the table presented below remains unchanged. The tables do 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
 
Interest on Deposits
 
Total
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$1,398

 

($74
)
 

($131
)
 

$1,193

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

$—

 

$3

 

$—

 

$3

Recognized on derivatives
—

 
(72
)
 
—

 
(72
)
Recognized on hedged items
—

 
69

1 
—

 
69

Net income/(expense) recognized on fair value hedges

$—

 

$—

 

$—

 

$—

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

($5
)
2 

$—

 

$—



($5
)
Net expense recognized on cash flow hedges

($5
)
 

$—

 

$—

 

($5
)
1 Includes $2 million of amortization expense from de-designated fair value hedging relationships.
2 During the three months ended March 31, 2018, the Company also reclassified $4 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.

 
Three Months Ended March 31, 2017
(Dollars in millions)
Amount of Loss on Derivatives
Recognized in Income
 
Amount of Gain
on Related Hedged Items
Recognized in Income
 
Amount of Gain
Recognized in Income
on Hedges
(Ineffective Portion)
Derivative instruments in fair value hedging relationships:
 
 
 
 
 
Interest rate contracts hedging fixed rate debt 1

($11
)
 

$13

 

$2

Interest rate contracts hedging brokered time deposits 1
—

 
—

 
—

Total

($11
)
 

$13

 

$2

1 Amounts are recognized in Trading income in the Consolidated Statements of Income.

 
Three Months Ended March 31, 2017
(Dollars in millions)
Amount of Pre-tax Loss Recognized in OCI on Derivatives
(Effective Portion)
 
Amount of Pre-tax Gain
Reclassified from AOCI into Income
(Effective Portion)
 
Classification of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)
Derivative instruments in cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI 1

($25
)
 

$23

 
Interest and fees on loans held for investment
1 During the three months ended March 31, 2017, the Company also reclassified $18 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.



Pursuant to the adoption of ASU 2017-12, 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
March 31, 2018
 
 
 
 
 
Long-term debt

$5,658

 

($148
)
 

($41
)
Interest-bearing deposits:
 
 
 
 
 
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 (Loss)/Gain Recognized in Income on Derivatives
 
Amount of (Loss)/Gain Recognized in Income on Derivatives During the Three Months Ended
(Dollars in millions)
 
March 31, 2018
 
March 31, 2017
Derivative instruments not designated as hedging instruments:
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
Residential MSRs
Mortgage servicing related income
 

($93
)
 

($18
)
LHFS, IRLCs
Mortgage production related income
 
46

 
(15
)
LHFI
Other noninterest income
 
2

 
—

Trading activity
Trading income
 
9

 
11

Foreign exchange rate contracts hedging loans and trading activity
Trading income
 
(2
)
 
(6
)
Credit contracts hedging:
 
 
 
 
 
LHFI
Other noninterest income
 
1

 
(1
)
Trading activity
Trading income
 
6

 
5

Equity contracts hedging trading activity
Trading income
 
1

 
—

Other contracts:
 
 
 
 
 
IRLCs and other
Mortgage production related income,
Commercial real estate related income
 
(6
)
 
48

Commodity derivatives
Trading income
 
—

 
1

Total
 
 

($36
)
 

$25



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.
At March 31, 2018, there were no purchased CDS contracts designated as trading instruments. At December 31, 2017, the gross notional amount of purchased CDS contracts designated as trading instruments was $5 million. The fair value of purchased CDS was immaterial at December 31, 2017.
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. At both March 31, 2018 and December 31, 2017, the outstanding notional balance of TRS totaled $1.7 billion. The fair values of these TRS assets and liabilities at March 31, 2018 were $22 million and $19 million, respectively, and related cash collateral held at March 31, 2018 was $372 million. The fair values of the TRS assets and liabilities at December 31, 2017 were $15 million and $13 million, respectively, and related cash collateral held at December 31, 2017 was $368 million. For additional information on the Company's TRS contracts, see Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," as well as Note 16, "Fair Value Election and Measurement."
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 March 31, 2018, the remaining terms on these risk participations generally ranged from less than one year to eight years, with a weighted average term on the maximum estimated exposure of 4.7 years. At December 31, 2017, the remaining terms on these risk participations generally ranged from less than one year to nine years, with a weighted average term on the maximum estimated exposure of 5.5 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 $85 million and $55 million at March 31, 2018 and December 31, 2017, respectively. The fair values of the written risk participations were immaterial at both March 31, 2018 and December 31, 2017.
v3.8.0.1
Fair Value Election and Measurement
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Election and Measurement
NOTE 16 - 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, securities AFS, and derivative financial instruments. Assets and liabilities that the Company has elected to measure at fair value on a recurring basis include its residential MSRs, trading loans, and certain LHFS, LHFI, brokered time deposits, and fixed rate debt issuances.
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 the 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. This review is performed by different internal groups depending on the type of fair value asset or liability.
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. In making this determination the Company evaluates the number of recent transactions in either the primary or secondary market, whether or not price quotations are current, the nature of market participants, the variability of price quotations, the breadth of bid/ask spreads, declines in, or the absence of, new issuances, and the availability of public information. When a market is determined to be inactive, significant adjustments may be made to price indications when estimating fair value. In making these adjustments the Company seeks to employ assumptions a market participant would use to value the asset or liability, including consideration of illiquidity in the referenced market.

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

$182

 

$—

 

$—

 

$—

 

$182

Federal agency securities
—

 
238

 
—

 
—

 
238

U.S. states and political subdivisions
—

 
123

 
—

 
—

 
123

MBS - agency
—

 
699

 
—

 
—

 
699

Corporate and other debt securities
—

 
804

 
—

 
—

 
804

CP
—

 
169

 
—

 
—

 
169

Equity securities
51

 
—

 
—

 
—

 
51

Derivative instruments
252

 
2,805

 
17

 
(2,417
)
 
657

Trading loans
—

 
2,189

 
—

 
—

 
2,189

Total trading assets and derivative instruments
485

 
7,027

 
17

 
(2,417
)
 
5,112

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,340

 
—

 
—

 
—

 
4,340

Federal agency securities
—

 
249

 
—

 
—

 
249

U.S. states and political subdivisions
—

 
636

 
—

 
—

 
636

MBS - agency residential
—

 
22,513

 
—

 
—

 
22,513

MBS - agency commercial
—

 
2,242

 
—

 
—

 
2,242

MBS - non-agency residential
—

 
57

 
—

 
—

 
57

MBS - non-agency commercial
—

 
874

 
—

 
—

 
874

ABS
—

 
7

 
—

 
—

 
7

Corporate and other debt securities
—

 
16

 
—

 
—

 
16

Total securities AFS 2
4,340

 
26,594

 
—

 
—

 
30,934


 
 
 
 
 
 
 
 
 
LHFS
—

 
1,428

 
—

 
—

 
1,428

LHFI
—

 
—

 
188

 
—

 
188

Residential MSRs
—

 
—

 
1,916

 
—

 
1,916

Other 2
143

 
—

 
—

 
—

 
143

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
698

 
—

 
—

 
—

 
698

MBS - agency
—

 
1

 
—

 
—

 
1

Corporate and other debt securities
—

 
453

 
—

 
—

 
453

Equity securities
5

 
—

 
—

 
—

 
5

Derivative instruments
138

 
3,351

 
16

 
(2,925
)
 
580

Total trading liabilities and derivative instruments
841

 
3,805

 
16

 
(2,925
)
 
1,737

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
302

 
—

 
—

 
302

Long-term debt
—

 
209

 
—

 
—

 
209


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 15, "Derivative Financial Instruments," for additional information.
2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.




 
December 31, 2017
 
Fair Value Measurements
 
 
 
 
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$157

 

$—

 

$—

 

$—

 

$157

Federal agency securities
—

 
395

 
—

 
—

 
395

U.S. states and political subdivisions
—

 
61

 
—

 
—

 
61

MBS - agency
—

 
700

 
—

 
—

 
700

Corporate and other debt securities
—

 
655

 
—

 
—

 
655

CP
—

 
118

 
—

 
—

 
118

Equity securities
56

 
—

 
—

 
—

 
56

Derivative instruments
395

 
3,493

 
16

 
(3,102
)
 
802

Trading loans
—

 
2,149

 
—

 
—

 
2,149

Total trading assets and derivative instruments
608

 
7,571

 
16

 
(3,102
)
 
5,093

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,331

 
—

 
—

 
—

 
4,331

Federal agency securities
—

 
259

 
—

 
—

 
259

U.S. states and political subdivisions
—

 
617

 
—

 
—

 
617

MBS - agency residential
—

 
22,704

 
—

 
—

 
22,704

MBS - agency commercial
—

 
2,086

 
—

 
—

 
2,086

MBS - non-agency residential
—

 
—

 
59

 
—

 
59

MBS - non-agency commercial
—

 
866

 
—

 
—

 
866

ABS
—

 
—

 
8

 
—

 
8

Corporate and other debt securities
—

 
12

 
5

 
—

 
17

Total securities AFS 2
4,331

 
26,544

 
72

 
—

 
30,947

 
 
 
 
 
 
 
 
 
 
LHFS
—

 
1,577

 
—

 
—

 
1,577

LHFI
—

 
—

 
196

 
—

 
196

Residential MSRs
—

 
—

 
1,710

 
—

 
1,710

Other 2
56

 
—

 
—

 
—

 
56

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
577

 
—

 
—

 
—

 
577

Corporate and other debt securities
—

 
289

 
—

 
—

 
289

Equity securities
9

 
—

 
—

 
—

 
9

Derivative instruments
183

 
4,243

 
16

 
(4,034
)
 
408

Total trading liabilities and derivative instruments
769

 
4,532

 
16

 
(4,034
)
 
1,283

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
236

 
—

 
—

 
236

Long-term debt
—

 
530

 
—

 
—

 
530


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 15, "Derivative Financial Instruments," for additional information.
2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.

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
March 31, 2018
 
Aggregate UPB at
March 31, 2018
 
Fair Value
Over/(Under)
Unpaid Principal
Assets:
 
 
 
 
 
Trading loans

$2,189

 

$2,142

 

$47

LHFS:
 
 
 
 
 
Accruing
1,428

 
1,397

 
31

LHFI:
 
 
 
 
 
Accruing
183

 
190

 
(7
)
Nonaccrual
5

 
7

 
(2
)

Liabilities:
 
 
 
 
 
Brokered time deposits
302

 
304

 
(2
)
Long-term debt
209

 
203

 
6

 
 
 
 
 
 
(Dollars in millions)
Fair Value at
December 31, 2017
 
Aggregate UPB at
December 31, 2017
 

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

$2,149

 

$2,111

 

$38

LHFS:
 
 
 
 
 
Accruing
1,576

 
1,533

 
43

Past due 90 days or more
1

 
1

 
—

LHFI:
 
 
 
 
 
Accruing
192

 
198

 
(6
)
Nonaccrual
4

 
6

 
(2
)

Liabilities:
 
 
 
 
 
Brokered time deposits
236

 
233

 
3

Long-term debt
530

 
517

 
13




The following tables present the change in fair value during the three months ended March 31, 2018 and 2017 of financial instruments for which the FVO has been elected, as well as for residential MSRs. 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 production related income, Mortgage servicing 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 Gain/(Loss) for the Three Months Ended
March 31, 2018 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading
Income
 
Mortgage
Production
Related
Income 1
 
Mortgage
Servicing
Related
Income
 
Other
Noninterest
Income
 
Total
Changes in
Fair Values
Included in
 Earnings 2
Assets:
 
 
 
 
 
 
 
 
 
Trading loans

$2

 

$—

 

$—

 

$—

 

$2

LHFS
—

 
(13
)
 
—

 
—

 
(13
)
LHFI
—

 
—

 
—

 
(2
)
 
(2
)
Residential MSRs
—

 
3

 
56

 
—

 
59

Liabilities:
 
 
 
 
 
 
 
 
 
Brokered time deposits
7

 
—

 
—

 
—

 
7

Long-term debt
3

 
—

 
—

 
—

 
3

1 Income related to LHFS does not include income from IRLCs. For the three months ended March 31, 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 months ended March 31, 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.


 
Fair Value Gain/(Loss) for the Three Months Ended
March 31, 2017 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading
Income
 
Mortgage
Production
Related
Income 1
 
Mortgage
Servicing
Related
Income
 
Other
Noninterest
Income
 
Total
Changes in
Fair Values
Included in
Earnings 2
Assets:
 
 
 
 
 
 
 
 
 
Trading loans

$2

 

$—

 

$—

 

$—

 

$2

LHFS
—

 
12

 
—

 
—

 
12

Residential MSRs
—

 
1

 
(24
)
 
—

 
(23
)
Liabilities:
 
 
 
 
 
 
 
 
 
Brokered time deposits
1

 
—

 
—

 
—

 
1

Long-term debt
6

 
—

 
—

 
—

 
6

1 Income related to LHFS does not include income from IRLCs. For the three months ended March 31, 2017, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
2 Changes in fair value for the three months ended March 31, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, 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.





The following is a discussion of the valuation techniques and inputs used in estimating fair value for assets and liabilities measured at fair value on a recurring basis and classified as level 1, 2, and/or 3.

Trading Assets and Derivative Instruments and Securities Available for Sale
Unless otherwise indicated, trading assets are priced by the trading desk and securities AFS are valued by an independent third party pricing service. The third party pricing service gathers relevant market data and observable inputs, such as new issue data, benchmark curves, reported trades, credit spreads, and dealer bids and offers, and integrates relevant credit information, market movements, and sector news into its matrix pricing and other market-based modeling techniques.

U.S. Treasury Securities
The Company estimates the fair value of its U.S. Treasury securities based on quoted prices observed in active markets; as such, these investments are classified as level 1.

Federal Agency Securities
The Company includes in this classification securities issued by federal agencies and GSEs. Agency securities consist of debt obligations issued by HUD, FHLB, and other agencies, as well as securities collateralized by loans that are guaranteed by the SBA, and thus, are backed by the full faith and credit of the U.S. government. For SBA instruments, the Company estimates fair value based on pricing from observable trading activity for similar securities or from a third party pricing service. Accordingly, these instruments are classified as level 2.
U.S. States and Political Subdivisions
The Company’s investments in U.S. states and political subdivisions (collectively “municipals”) include obligations of county and municipal authorities and agency bonds, which are general obligations of the municipality or are supported by a specified revenue source. Holdings are geographically dispersed, with no significant concentrations in any one state or municipality. Additionally, all AFS municipal obligations classified as level 2 are highly rated or are otherwise collateralized by securities backed by the full faith and credit of the federal government.
MBS – Agency
Agency MBS includes pass-through securities and collateralized mortgage obligations issued by GSEs and U.S. government agencies, such as Fannie Mae, Freddie Mac, and Ginnie Mae. Each security contains a guarantee by the issuing GSE or agency. For agency MBS, the Company estimates fair value based on pricing from observable trading activity for similar securities or from a third party pricing service; accordingly, the Company classified these instruments as level 2.
MBS – Non-agency
Non-agency residential MBS includes purchased interests in third party securitizations, as well as retained interests in Company-sponsored securitizations of 2006 and 2007 vintage residential mortgages (including both prime jumbo fixed rate collateral and floating rate collateral). At the time of purchase or origination, these securities had high investment grade ratings; however, they have experienced deterioration in credit quality leading to downgrades to non-investment grade levels. The Company obtains pricing for these securities from an independent pricing service. The Company evaluates third party pricing to determine the reasonableness of the information relative to changes in market data, such as any recent trades, information received from market participants and analysts, and/or changes in the underlying collateral performance. At March 31, 2018 and December 31, 2017, the Company classified non-agency residential MBS as level 2 and level 3, respectively.
Non-agency commercial MBS consists of purchased interests in third party securitizations. These interests have high investment grade ratings, and the Company obtains pricing for these securities from an independent pricing service. The Company has classified these non-agency commercial MBS as level 2, as the third party pricing service relies on observable data for similar securities in active markets.
Asset-Backed Securities
ABS classified as securities AFS includes purchased interests in third party securitizations collateralized by home equity loans. At March 31, 2018 and December 31, 2017, the Company classified ABS as level 2 and level 3, respectively.
Corporate and Other Debt Securities
Corporate debt securities are comprised predominantly of senior and subordinate debt obligations of domestic corporations and are classified as level 2. Other debt securities classified as AFS include bonds that are redeemable with the issuer at par. At March 31, 2018 and December 31, 2017, the Company classified other debt securities as level 2 and level 3, respectively.
Commercial Paper
The Company acquires CP that is generally short-term in nature (maturity of less than 30 days) and highly rated. The Company estimates the fair value of this CP based on observable pricing from executed trades of similar instruments; as such, CP is classified as level 2.
Equity Securities
The Company estimates the fair value of its equity securities classified as trading assets based on quoted prices observed in active markets; accordingly, these investments are classified as level 1.

Derivative Instruments
The Company holds derivative instruments for both trading and risk management purposes. Level 1 derivative instruments generally include exchange-traded futures or option contracts for which pricing is readily available. The Company’s level 2 instruments are predominantly OTC swaps, options, and forwards, measured using observable market assumptions for interest rates, foreign exchange, equity, and credit. Because fair values for OTC contracts are not readily available, the Company estimates fair values using internal, but standard, valuation models. The selection of valuation models is driven by the type of contract: for option-based products, the Company uses an appropriate option pricing model such as Black-Scholes. For forward-based products, the Company’s valuation methodology is generally a discounted cash flow approach.
The Company's derivative instruments classified as level 2 are primarily transacted in the institutional dealer market and priced with observable market assumptions at a mid-market valuation point, with appropriate valuation adjustments for liquidity and credit risk. See Note 15, “Derivative Financial Instruments,” for additional information on the Company's derivative instruments.
The Company's derivative instruments classified as level 3 include IRLCs that satisfy the criteria to be treated as derivative financial instruments. The fair value of IRLCs on LHFS, while based on interest rates observable in the market, is highly dependent on the ultimate closing of the loans. These “pull-through” rates are based on the Company’s historical data and reflect the Company’s best estimate of the likelihood that a commitment will result in a closed loan. As pull-through rates increase, the fair value of IRLCs also increases. Servicing value is included in the fair value of IRLCs, and the fair value of servicing is determined by projecting cash flows, which are then discounted to estimate an expected fair value. The fair value of servicing is impacted by a variety of factors, including prepayment assumptions, discount rates, delinquency rates, contractually specified servicing fees, servicing costs, and underlying portfolio characteristics. Because these inputs are not transparent in market trades, IRLCs are considered to be level 3 assets. During the three months ended March 31, 2018 and 2017, the Company transferred $6 million of net IRLC liabilities and $36 million of net IRLC assets out of level 3 as the associated loans were closed.
    
Trading Loans
The Company engages in certain businesses whereby electing to measure loans at fair value for financial reporting aligns with the underlying business purpose. Specifically, loans included within this classification include trading loans that are (i) made or acquired in connection with the Company’s TRS business, (ii) part of the loan sales and trading business within the Company’s Wholesale segment, or (iii) backed by the SBA. See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," and Note 15, “Derivative Financial Instruments,” for further discussion of this business. All of these loans are classified as level 2 due to the nature of market data that the Company uses to estimate fair value.
The loans made in connection with the Company’s TRS business are short-term, senior demand loans supported by a pledge agreement granting first priority security interest to the Bank in all the assets held by the borrower, a VIE with assets comprised primarily of corporate loans. While these TRS-related loans do not trade in the market, the Company believes that the par amount of the loans approximates fair value and no unobservable assumptions are used by the Company to value these loans. At both March 31, 2018 and December 31, 2017, the Company had $1.7 billion and of these short-term loans outstanding, measured at fair value.
The loans from the Company’s sales and trading business are commercial and corporate leveraged loans that are either traded in the market or for which similar loans trade. The Company elected to measure these loans at fair value since they are actively traded. For both of the three months ended March 31, 2018 and 2017, the Company recognized an immaterial amount of gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk. The Company is able to obtain fair value estimates for substantially all of these loans through a third party valuation service that is broadly used by market participants. While most of the loans are traded in the market, the Company does not believe that trading activity qualifies the loans as level 1 instruments, as the volume and level of trading activity is subject to variability and the loans are not exchange-traded. At March 31, 2018 and December 31, 2017, $74 million and $48 million, respectively, of loans related to the Company’s trading business were held in inventory.
SBA loans are similar to SBA securities discussed herein under “Federal agency securities,” except for their legal form. In both cases, the Company trades instruments that are fully guaranteed by the U.S. government as to contractual principal and interest and there is sufficient observable trading activity upon which to base the estimate of fair value. As these SBA loans are fully guaranteed, the changes in fair value are attributable to factors other than instrument-specific credit risk. At March 31, 2018 and December 31, 2017, the Company held $448 million and $368 million of SBA loans in inventory, respectively.
Loans Held for Sale and Loans Held for Investment
Residential Mortgage LHFS
The Company values certain newly-originated residential mortgage LHFS at fair value based upon defined product criteria. The Company chooses to fair value these residential mortgage LHFS to eliminate the complexities and inherent difficulties of achieving hedge accounting and to better align reported results with the underlying economic changes in value of the loans and related hedge instruments. Any origination fees are recognized within Mortgage production related income in the Consolidated Statements of Income when earned at the time of closing. The servicing value is included in the fair value of the loan and is initially recognized at the time the Company enters into IRLCs with borrowers. The Company employs derivative instruments to economically hedge changes in interest rates and the related impact on servicing value in the fair value of the loan. The mark-to-market adjustments related to LHFS and the associated economic hedges are captured in Mortgage production related income.
LHFS classified as level 2 are primarily agency loans which trade in active secondary markets and are priced using current market pricing for similar securities, adjusted for servicing, interest rate risk, and credit risk. Non-agency residential mortgage LHFS are also included in level 2.
For residential mortgages that the Company has elected to measure at fair value, the Company recognized an immaterial amount of gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for both of the three months ended March 31, 2018 and 2017. In addition to borrower-specific credit risk, there are other more significant variables that drive changes in the fair values of the loans, including interest rates and general market conditions.
Commercial Mortgage LHFS
The Company values certain commercial mortgage LHFS at fair value based upon observable current market prices for similar loans. These loans are generally transferred to agencies within 90 days of origination. The Company had commitments from agencies to purchase these loans at March 31, 2018 and December 31, 2017; therefore, they are classified as level 2. Origination fees are recognized within Commercial real estate related income in the Consolidated Statements of Income when earned at the time of closing. To mitigate the effect of interest rate risk inherent in entering into IRLCs with borrowers, the Company enters into forward contracts with investors at the same time that it enters into IRLCs with borrowers. The mark-to-market adjustments related to commercial mortgage LHFS, IRLCs, and forward contracts are recognized in Commercial real estate related income. For commercial mortgages that the Company has elected to measure at fair value, the Company recognized no gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for both of the three months ended March 31, 2018 and 2017.
LHFI
LHFI classified as level 3 includes predominantly mortgage loans that are not marketable, largely due to the identification of loan defects. The Company chooses to measure these mortgage LHFI at fair value to better align reported results with the underlying economic changes in value of the loans and any related hedging instruments. The Company values these loans using a discounted cash flow approach based on assumptions that are generally not observable in current markets, such as prepayment speeds, default rates, loss severity rates, and discount rates. Level 3 LHFI also includes mortgage loans that are valued using collateral based pricing. Changes in the applicable housing price index since the time of the loan origination are considered and applied to the loan's collateral value. An additional discount representing the return that a buyer would require is also considered in the overall fair value.
Residential Mortgage Servicing Rights
The Company records residential MSR assets at fair value using a discounted cash flow approach. The fair values of residential MSRs are impacted by a variety of factors, including prepayment assumptions, discount rates, delinquency rates, contractually specified servicing fees, servicing costs, and underlying portfolio characteristics. The underlying assumptions and estimated values are corroborated by values received from independent third parties based on their review of the servicing portfolio, and comparisons to market transactions. Because these inputs are not transparent in market trades, residential MSRs are classified as level 3 assets. For additional information see Note 8, "Goodwill and Other Intangible Assets."
Other
The Company estimates the fair value of its mutual fund investments and other equity securities with readily determinable fair values based on quoted prices observed in active markets; therefore, these investments are classified as level 1.

Liabilities
Trading Liabilities and Derivative Instruments
Trading liabilities are comprised primarily of derivative contracts, including IRLCs that satisfy the criteria to be treated as derivative financial instruments, as well as various contracts (primarily U.S. Treasury securities, corporate and other debt securities) that the Company uses in certain of its trading businesses. The Company's valuation methodologies for these derivative contracts and securities are consistent with those discussed within the corresponding sections herein under “Trading Assets and Derivative Instruments and Securities Available for Sale.”
During the second quarter of 2009, in connection with its sale of Visa Class B shares, the Company entered into a derivative contract whereby the ultimate cash payments received or paid, if any, under the contract are based on the ultimate resolution of the Litigation involving Visa. The fair value of the derivative is estimated based on the Company’s expectations regarding the ultimate resolution of that Litigation. The significant unobservable inputs used in the fair value measurement of the derivative involve a high degree of judgment and subjectivity; accordingly, the derivative liability is classified as level 3. See Note 14, "Guarantees," for a discussion of the valuation assumptions.
Brokered Time Deposits
The Company has elected to measure certain CDs that contain embedded derivatives at fair value. This fair value election better aligns the economics of the CDs with the Company’s risk management strategies. The Company evaluated, on an instrument by instrument basis, whether a new issuance would be measured at fair value.
The Company has classified CDs measured at fair value as level 2 instruments due to the Company's ability to reasonably measure all significant inputs based on observable market variables. The Company employs a discounted cash flow approach based on observable market interest rates for the term of the CD and an estimate of the Bank's credit risk. For any embedded derivative features, the Company uses the same valuation methodologies as if the derivative were a standalone derivative, as discussed herein under "Derivative instruments."
Long-term Debt
The Company has elected to measure at fair value certain fixed rate issuances of public debt that are valued by obtaining price indications from a third party pricing service and utilizing broker quotes to corroborate the reasonableness of those marks. Additionally, information from market data of recent observable trades and indications from buy side investors, if available, are taken into consideration as additional support for the value. Due to the availability of this information, the Company determined that the appropriate classification for these debt issuances is level 2. The Company utilizes derivative instruments to convert interest rates on its fixed rate debt to floating rates. The Company elected to measure certain fixed rate debt issuances at fair value to align the accounting for the debt with the accounting for offsetting derivative positions, without having to apply complex hedge accounting.


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 March 31, 2018
 
Valuation Technique
 
Unobservable Input
 
Range
(weighted average)
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 1

$1

 
Internal model
 
Pull through rate
 
36-100% (79%)
 
MSR value
 
41-190 bps (120 bps)
LHFI
183

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
62-784 bps (181 bps)
Conditional prepayment rate
7-24 CPR (13 CPR)
Conditional default rate
0-2 CDR (0.7 CDR)
5

Collateral based pricing
Appraised value
NM 2
Residential MSRs
1,916

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-33 CPR (13 CPR)
 
Option adjusted spread
 
0-116% (4%)

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 herein for a discussion of valuation assumptions related to the Visa derivative liability.
2 Not meaningful.
 
 Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)
Fair value December 31, 2017
 
Valuation Technique
 
Unobservable Input 1
 
Range
(weighted average)
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 2

$—

 
Internal model
 
Pull through rate
 
41-100% (81%)
 
MSR value
 
41-190 bps (113 bps)
Securities AFS:
 
 
 
 
 
 
 
MBS - non-agency residential
59

 
Third party pricing
 
N/A
 
 
ABS
8

 
Third party pricing
 
N/A
 
 
Corporate and other debt securities
5

 
Cost
 
N/A
 
 
LHFI
192

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
62-784 bps (215 bps)
 
Conditional prepayment rate
 
2-34 CPR (11 CPR)
 
Conditional default rate
 
0-5 CDR (0.7 CDR)
4

 
Collateral based pricing
 
Appraised value
 
NM 3
Residential MSRs
1,710

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-30 CPR (13 CPR)
 
Option adjusted spread
 
1-125% (4%)

1 For certain assets and liabilities where the Company utilizes third party pricing, the unobservable inputs and their ranges are not reasonably available, and therefore, have been noted as not applicable ("N/A").
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 herein 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 servicing rights 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. There were no transfers between level 1 and 2 during the three months ended March 31, 2018 and 2017.

 
Fair Value Measurements
Using Significant Unobservable Inputs
 
(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
March 31,
2018
 
Included in
Earnings
(held at
March 31, 2018 1)
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$—

 

($6
)
2 

$—

 

$—

 

$—

 

$1

 

$6

 

$—

 

$—

 

$1

 

$16

2 
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

 
(2
)
3 
—

 
—

 
—

 
(7
)
 
—

 
1

 
—

 
188

 
(3
)
3 

1 Change in unrealized gains/(losses) included in earnings during the period related to financial assets still held at March 31, 2018.
2 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production 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.
3 Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income.

 
Fair Value Measurements
Using Significant Unobservable Inputs
 
(Dollars in millions)
Beginning
Balance
January 1,
2017
 
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
March 31,
2017
 
Included in
Earnings
(held at
March 31,
2017 1)
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$6

 

$48

2 

$—

 

$—

 

$—

 

($1
)
 

($36
)
 

$—

 

$—

 

$17

 

$30

2 
Securities AFS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. states and political subdivisions
4

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
4

 
—

 
MBS - non-agency residential
74

 
—

 
(1
)
3 
—

 
—

 
(2
)
 
—

 
—

 
—

 
71

 
—

 
ABS
10

 
—

 
—

— 
—

 
—

 
(1
)
 
—

 
—

 
—

 
9

 
—

 
Corporate and other debt securities
5

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
5

 
—

 
Total securities AFS
93

 
—


(1
)
3 
—

 
—

 
(3
)
 
—

 
—

 
—

 
89

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential LHFS
12

 
—

 
—

 
—

 
(14
)
 
—

 
(2
)
 
10

 
—

 
6

 
—

 
LHFI
222

 
—

 
—

 
—

 
—

 
(6
)
 
1

 
4

 
—

 
221

 
—

 

1 Change in unrealized gains included in earnings during the period related to financial assets still held at March 31, 2017.
2 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production related income and amount related to Visa derivative liability is recognized in Other noninterest expense.
3 Amounts recognized in OCI are included in change in net unrealized losses on securities AFS, net of tax.


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 months ended March 31, 2018 and the year ended December 31, 2017. 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
March 31, 2018
(Dollars in millions)
March 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
LHFS

$13

 

$—

 

$13

 

$—

 

$—

LHFI
48

 
—

 
—

 
48

 
—

OREO
23

 
—

 
—

 
23

 
(2
)
Other assets
41

 
—

 
31

 
10

 
15

 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements
 
Losses for the
Year Ended
December 31, 2017
(Dollars in millions)
December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
LHFS

$13

 

$—

 

$13

 

$—

 

$—

LHFI
49

 
—

 
—

 
49

 
—

OREO
24

 
—

 
1

 
23

 
(4
)
Other assets
53

 
—

 
4

 
49

 
(43
)


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 March 31, 2018 and December 31, 2017, LHFS classified as level 2 consisted of commercial loans that were valued using market prices and measured at LOCOM. There were no gains/(losses) recognized in earnings during the three months ended March 31, 2018 or during the year ended December 31, 2017 as the charge-offs related to these loans are a component of the ALLL.

Loans Held for Investment
At March 31, 2018 and December 31, 2017, LHFI classified as level 3 consisted primarily of consumer loans discharged in Chapter 7 bankruptcy that had not been reaffirmed by the borrower, as well as nonperforming CRE loans for which specific reserves had been recognized. 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 months ended March 31, 2018 or during the year ended December 31, 2017, 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 2 OREO consists primarily of residential homes, commercial properties, and vacant lots and land for which binding purchase agreements exist. 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 consists of equity investments, other repossessed assets, assets under operating leases where the Company is the lessor, branch properties, land held for sale, and software.
Pursuant to the adoption of ASU 2016-01 on January 1, 2018, 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 the three months ended March 31, 2018, the Company recognized a remeasurement gain of $23 million on these equity securities.
Prior to the adoption of ASU 2016-01, equity investments were evaluated for potential impairment based on the expected remaining cash flows to be received from these assets discounted at a market rate that is commensurate with the expected risk, considering relevant company-specific valuation multiples, where applicable. Based on the valuation methodology and associated unobservable inputs, these investments are classified as level 3. During the year ended December 31, 2017, the Company recognized an immaterial amount of impairment charges on its equity investments.
Other repossessed assets comprises 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 months ended March 31, 2018 or during the year ended December 31, 2017, 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. No impairment charges were recognized during the three months ended March 31, 2018 attributable to changes in the fair value of various personal property under operating leases. During the year ended December 31, 2017, 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 market comparables and broker opinions. The Company recognized no impairment on branch properties during the three months ended March 31, 2018. During the year ended December 31, 2017, the Company recognized impairment charges of $10 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 market comparables and broker opinions. The Company recognized no impairment charges on land held for sale during the three months ended March 31, 2018. During the year ended December 31, 2017, the Company recognized an immaterial amount of impairment charges on land held for sale.
Software consisted primarily of external software licenses and internally developed software that were impaired and for which fair value was determined using a level 3 measurement. This resulted in impairment charges of $8 million during the three months ended March 31, 2018 and $28 million during the year ended December 31, 2017.

Fair Value of Financial Instruments
The carrying amounts and fair values of the Company’s financial instruments are as follows:
 
 
 
March 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
 

$7,304

 

$7,304

 

$7,304

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
5,112

 
5,112

 
485

 
4,610

 
17

Securities AFS
Fair value
 
30,934

 
30,934

 
4,340

 
26,594

 
—

LHFS
Fair value
1 

2,377

 
2,389

 
—

 
2,348

 
41

LHFI, net
Amortized cost
2 

140,924

 
141,174

 
—

 
—

 
141,174

Other
Amortized cost
3 

561

 
561

 
143

 
—

 
418

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Time deposits
Amortized cost
 
13,715

 
13,478

 
—

 
13,478

 
—

Short-term borrowings
Amortized cost
 
3,572

 
3,572

 
—

 
3,572

 
—

Long-term debt
Amortized cost
2 

10,692

 
10,743

 
—

 
9,631

 
1,112

Trading liabilities and derivative instruments
Fair value
 
1,737

 
1,737

 
841

 
880

 
16

1 Certain LHFS are recorded at the lower of cost or fair value.
2 The Company elected to measure certain LHFI and fixed rate debt issuances at fair value on a recurring basis.
3 Other financial assets recorded at amortized cost consist primarily of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets also include mutual fund investments and other equity securities with readily determinable fair values, which are measured at fair value on a recurring basis.

 
 
 
December 31, 2017
 
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
 

$6,912

 

$6,912

 

$6,912

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
5,093

 
5,093

 
608

 
4,469

 
16

Securities AFS
Fair value
 
30,947

 
30,947

 
4,331

 
26,544

 
72

LHFS
Fair value
1 

2,290

 
2,293

 
—

 
2,239

 
54

LHFI, net
Amortized cost
2 

141,446

 
141,575

 
—

 
—

 
141,575

Other
Amortized cost
3 

474

 
474

 
56

 
—

 
418

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Time deposits
Amortized cost
 
12,076

 
11,906

 
—

 
11,906

 
—

Short-term borrowings
Amortized cost
 
4,781

 
4,781

 
—

 
4,781

 
—

Long-term debt
Amortized cost
2 

9,785

 
9,892

 
—

 
8,834

 
1,058

Trading liabilities and derivative instruments
Fair value
 
1,283

 
1,283

 
769

 
498

 
16

1 Certain LHFS are recorded at the lower of cost or fair value.
2 The Company elected to measure certain LHFI and fixed rate debt issuances at fair value on a recurring basis.
3 Other financial assets recorded at amortized cost consist primarily of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets also include mutual fund investments and other equity securities with determinable fair values, which are measured at fair value on a recurring basis.

Unfunded loan commitments and letters of credit are not included in the table above. At March 31, 2018 and December 31, 2017, the Company had $68.3 billion and $66.4 billion, respectively, of unfunded commercial loan commitments and letters of credit. A reasonable estimate of the fair value of these instruments is the carrying value of deferred fees plus the related unfunded commitments reserve, which was a combined $73 million and $84 million at March 31, 2018 and December 31, 2017, respectively. No active trading market exists for these instruments, and the estimated fair value does not include value associated with the borrower relationship. The Company does not estimate the fair values of consumer unfunded lending commitments which can generally be canceled by providing notice to the borrower.
v3.8.0.1
Contingencies
 3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Contingencies
NOTE 17 – 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 March 31, 2018 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 March 31, 2018. 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 14, “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 Bank filed an appeal of the decision on November 3, 2017.
ERISA Class Actions
Company Stock Class Action
Beginning in July 2008, the Company and certain officers, directors, and employees of the Company were named in a class action alleging that they breached their fiduciary duties under ERISA by offering the Company's common stock as an investment option in the SunTrust Banks, Inc. 401(k) Plan (the “Plan”). The plaintiffs sought to represent all current and former Plan participants who held the Company stock in their Plan accounts from May 15, 2007 to March 30, 2011 and seek to recover alleged losses these participants supposedly incurred as a result of their investment in Company stock.
This case was originally filed in the U.S. District Court for the Southern District of Florida but was transferred to the U.S. District Court for the Northern District of Georgia, Atlanta Division (the “District Court”), in November 2008. Since the filing of the case, various amended pleadings, motions, and appeals were made by the parties that ultimately resulted in the District Court granting a motion for summary judgment for certain non-fiduciary defendants and granting certain of the plaintiffs' motion for class certification. The class is defined as "All persons, other than Defendants and members of their immediate families, who were participants in or beneficiaries of the SunTrust Banks, Inc. 401(k) Savings Plan (the "Plan") at any time between May 15, 2007 and March 30, 2011, inclusive (the "Class Period") and whose accounts included investments in SunTrust common stock ("SunTrust Stock") during that time period and who sustained a loss to their account as a result of the investment in SunTrust Stock." The parties agreed to a settlement wherein the Company would pay approximately $5 million to a settlement fund in addition to other non-monetary reliefs. On March 12, 2018, the District Court preliminarily approved the settlement. The Company awaits the District Court's final approval of the settlement.
Mutual Funds Class Actions
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 purport 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.
Intellectual Ventures II v. SunTrust Banks, Inc. and SunTrust Bank
This action was filed in the U.S. District Court for the Northern District of Georgia on July 24, 2013. Plaintiff alleged that SunTrust violates five patents held by plaintiff in connection with SunTrust’s provision of online banking services and other systems and services. Plaintiff seeks damages for alleged patent infringement of an unspecified amount, as well as attorney’s fees and expenses. The matter was stayed on October 7, 2014 pending inter partes reviews of a number of the claims asserted against SunTrust. After completion of those reviews, plaintiff dismissed its claims regarding four of the five patents on August 1, 2017.

United States Mortgage Servicing Settlement
In the second quarter of 2014, STM and the U.S., through the DOJ, HUD, and Attorneys General for several states, reached a final settlement agreement related to the National Mortgage Servicing Settlement. The settlement agreement became effective on September 30, 2014 when the court entered the Consent Judgment. Pursuant to the settlements, STM made $50 million in cash payments, provided $500 million of consumer relief, and implemented certain mortgage servicing standards. In an August 10, 2017 report, the independent Office of Mortgage Settlement Oversight ("OMSO"), appointed to review and certify compliance with the provisions of the settlement, confirmed that STM fulfilled its consumer relief commitments of the settlement. STM's mortgage servicing standard obligations concluded on March 31, 2018. Testing of the final compliance period results by an internal review group, and semi-annually by the OMSO, is ongoing.

United States Attorney’s Office for the Southern District of New York Foreclosure Expense Investigation
In April 2013, STM began cooperating with the United States Attorney's Office for the Southern District of New York (the "Southern District") in a broad-based industry investigation regarding claims for foreclosure-related expenses charged by law firms in connection with the foreclosure of loans guaranteed or insured by Fannie Mae, Freddie Mac, or FHA. The investigation relates to a private litigant qui tam lawsuit. On March 27, 2018, the United States Attorney's Office filed notice with the Southern District that it did not intend to intervene in the matter as to STM, and, on the same date, the qui tam matter was unsealed. On April 3, 2018, the private litigant filed an amended complaint alleging violations of the False Claims Act by various servicers, including STM.
LR Trust v. SunTrust Banks, Inc., et al.
In November 2016, the Company and certain officers and directors were named as defendants in a shareholder derivative action alleging that defendants failed to take action related to activities at issue in the National Mortgage Servicing, HAMP, and FHA Originations settlements, and certain other legal matters or to ensure that the alleged activities in each were remedied and otherwise appropriately addressed. Plaintiff sought an award in favor of the Company for the amount of damages sustained by the Company, disgorgement of alleged benefits obtained by defendants, and enhancements to corporate governance and internal controls. On September 18, 2017, the court dismissed this matter and on October 16, 2017, plaintiff filed an appeal.

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, SunTrust 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 have removed the case to the U.S. District Court for the Southern District of New York and the Trustee has moved to remand the case back to state court.
v3.8.0.1
Business Segment Reporting
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Business Segment Reporting
NOTE 18 - 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 March 31, 2018.

The Consumer segment is made up of four primary businesses:
•
Consumer Banking provides services to individual consumers and branch-managed small business clients through an extensive network of traditional and in-store branches, ATMs, the internet (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 offers an array of lending products to individual consumers and small business clients via the Company's Consumer Banking and PWM businesses, through the internet (www.suntrust.com and www.lightstream.com), as well as through various national offices and partnerships. Products offered include home equity lines, personal credit lines and loans, direct auto, indirect auto, student lending, credit cards, and other lending products.
•
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. Discount/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, 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.
•
Mortgage Banking offers residential mortgage products nationally through its retail and correspondent channels, the internet (www.suntrust.com), and by telephone (1-800-SUNTRUST). These products are either sold in the secondary market, primarily with servicing rights retained, or held in the Company’s loan portfolio. Mortgage Banking also services loans for other investors, in addition to loans held in the Company’s loan portfolio.
◦
The Company plans to merge its STM and Bank entities in the third quarter of 2018. The Company has received conditional regulatory approval for the merger, which is subject to final approval from the appropriate regulatory authorities once certain merger transaction documents have been executed. These entities are both part of the Company's Consumer business segment, and the merged entity would remain within Consumer. Subsequent to the merger, it is anticipated that STM will conduct operations under the Bank’s name and charter. The planned merger resulted in an increase in the Company’s valuation allowance recorded for STM's state carryforwards in the first quarter of 2018, as described in Note 12, “Income Taxes.” The Company is continuing to evaluate the anticipated impacts of the merger; however, no additional material impacts are currently expected.
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. Also managed within CIB is the Equipment Finance Group, which provides lease financing solutions (through SunTrust Equipment Finance & Leasing).
•
Commercial & Business Banking offers an array of traditional banking products, including lending, cash management and investment banking solutions via STRH to commercial clients (generally clients with revenues between $1 million and $250 million), not-for-profit organizations, and governmental entities, as well as auto dealer financing (floor plan inventory financing).
•
Commercial Real Estate provides a full range of financial solutions for commercial real estate developers, owners, and operators, including construction, mini-perm, and permanent real estate financing, as well as tailored financing and equity investment solutions via STRH. Commercial Real Estate also provides multi-family agency lending and servicing, as well as loan administration, advisory, and commercial mortgage brokerage services via Pillar. The Institutional Property Group business targets relationships with REITs, pension fund advisors, private funds, homebuilders, and insurance companies and the Regional business focuses on private real estate owners and developers through a regional delivery structure. Commercial Real Estate also 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.
•
Treasury & Payment Solutions provides Wholesale clients 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. Corporate Other also includes the Company's functional activities such as marketing, SunTrust online, human resources, finance, ER, legal and compliance, communications, procurement, enterprise information services, corporate real estate, and executive management. Additionally, the results of PAC were reported previously in the Wholesale segment and were reclassified to Corporate Other for enhanced comparability of the Wholesale segment results excluding PAC. See Note 2, "Acquisitions/Dispositions," to the Company's 2017 Annual Report on Form 10-K for additional information related to the sale of PAC in December 2017.
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. The change in this variance is generally attributable to corporate balance sheet management strategies.
•
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 March 31, 2018
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$74,093

 

$68,741

 

$90

 

($4
)
 

$142,920

Average consumer and commercial deposits
103,099

 
56,050

 
204

 
(184
)
 
159,169

Average total assets
83,716

 
82,472

 
35,489

 
2,455

 
204,132

Average total liabilities
103,925

 
61,902

 
13,877

 
(177
)
 
179,527

Average total equity
—

 
—

 
—

 
24,605

 
24,605

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$961

 

$563

 

($28
)
 

($55
)
 

$1,441

FTE adjustment
—

 
20

 
1

 
(1
)
 
20

Net interest income-FTE 1
961

 
583

 
(27
)
 
(56
)
 
1,461

Provision/(benefit) for credit losses 2
60

 
(32
)
 
—

 
—

 
28

Net interest income after provision/(benefit) for credit losses-FTE
901

 
615

 
(27
)
 
(56
)
 
1,433

Total noninterest income
443

 
371

 
14

 
(32
)
 
796

Total noninterest expense
966

 
477

 
(21
)
 
(5
)
 
1,417

Income before provision for income taxes-FTE
378

 
509

 
8

 
(83
)
 
812

Provision for income taxes-FTE 3
83

 
119

 
9

 
(44
)
 
167

Net income including income attributable to noncontrolling interest
295

 
390

 
(1
)
 
(39
)
 
645

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$295

 

$390

 

($3
)
 

($39
)
 

$643


1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) 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 March 31, 2017 1, 2
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$71,147

 

$71,237

 

$1,286

 

$—

 

$143,670

Average consumer and commercial deposits
101,941

 
56,866

 
117

 
(50
)
 
158,874

Average total assets
81,265

 
84,632

 
35,241

 
3,114

 
204,252

Average total liabilities
102,896

 
62,512

 
15,196

 
(23
)
 
180,581

Average total equity
—

 
—

 
—

 
23,671

 
23,671

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$894

 

$527

 

$26

 

($81
)
 

$1,366

FTE adjustment
—

 
34

 
1

 
(1
)
 
34

Net interest income-FTE 3
894

 
561

 
27

 
(82
)
 
1,400

Provision for credit losses 4
88

 
32

 
—

 
(1
)
 
119

Net interest income after provision for credit losses-FTE
806

 
529

 
27

 
(81
)
 
1,281

Total noninterest income
464

 
401

 
24

 
(42
)
 
847

Total noninterest expense
992

 
479

 
(2
)
 
(4
)
 
1,465

Income before provision for income taxes-FTE
278

 
451

 
53

 
(119
)
 
663

Provision for income taxes-FTE 5
100

 
168

 
(6
)
 
(69
)
 
193

Net income including income attributable to noncontrolling interest
178

 
283

 
59

 
(50
)
 
470

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$178

 

$283

 

$57

 

($50
)
 

$468


1 Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
2 During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
3 Presented on a matched maturity funds transfer price basis for the segments.
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 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
v3.8.0.1
Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2018
Accumulated Other Comprehensive Income
NOTE 19 - 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 March 31, 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
(424
)
 
(125
)
 
1

 
2

 
(5
)
 
(551
)
Amounts reclassified to net income
(1
)
 
1

 
—

 
—

 
3

 
3

Other comprehensive (loss)/income, net of tax
(425
)
 
(124
)
 
1

 
2

 
(2
)
 
(548
)
Balance, end of period

($396
)
 

($424
)
 

$—

 

($3
)
 

($699
)
 

($1,522
)
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($62
)
 

($157
)
 

($1
)
 

($7
)
 

($594
)


($821
)
Net unrealized gains/(losses) arising during the period
2

 
(16
)
 
—

 
(1
)
 
(9
)
 
(24
)
Amounts reclassified to net income
—

 
(26
)
 
—

 
—

 
4

 
(22
)
Other comprehensive income/(loss), net of tax
2

 
(42
)
 
—

 
(1
)
 
(5
)
 
(46
)
Balance, end of period

($60
)
 

($199
)
 

($1
)
 

($8
)
 

($599
)
 

($867
)

1 Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," 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 March 31
Impacted Line Item in the Consolidated Statements of Income
Details About AOCI Components
 
2018
 
2017
 
Securities AFS:
 
 
 
 
 
 
Realized gains on securities AFS
 

($1
)
 

$—

 
Net securities gains
Tax effect
 
—

 
—

 
Provision for income taxes
 
 
(1
)
 
—

 
 
Derivative Instruments:
 
 
 
 
 
 
Realized losses/(gains) on cash flow hedges
 
1

 
(41
)
 
Interest and fees on loans held for investment
Tax effect
 
—

 
15

 
Provision for income taxes
 
 
1

 
(26
)
 
 
Employee Benefit Plans:
 
 
 
 
 
 
Amortization of prior service credit
 
(2
)
 
(1
)
 
Employee benefits
Amortization of actuarial loss
 
6

 
6

 
Employee benefits
 
 
4

 
5

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

 
4

 
 
 
 
 
 
 
 
 
Total reclassifications from AOCI to net income
 

$3



($22
)
 
 
v3.8.0.1
Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2018
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 current year or not yet adopted as of March 31, 2018, 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 2018
ASU 2014-09, Revenue from Contracts with Customers (ASC Topic 606) and subsequent related ASUs
These ASUs comprise ASC Topic 606, Revenue from Contracts with Customers, which supersede the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the ASC. The core principle of these ASUs is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.
January 1, 2018
The Company adopted these ASUs on a modified retrospective basis beginning January 1, 2018. Upon adoption, the Company recognized an immaterial cumulative effect adjustment that resulted in a decrease to the beginning balance of retained earnings as of January 1, 2018. Furthermore, the Company prospectively changed the presentation of certain types of revenue and expenses, such as underwriting revenue within investment banking income which is shown on a gross basis, and certain cash promotions and card network expenses, which were reclassified from noninterest expense to service charges on deposit accounts, card fees, and other charges and fees. The net quantitative impact of these presentation changes decreased both revenue and expenses by $3 million for the three months ended March 31, 2018; however, these presentation changes did not have an impact on net income. Prior period balances have not been restated to reflect these presentation changes. See Note 2, “Revenue Recognition,” for disclosures relating to ASC Topic 606.

Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Adopted in 2018 (continued)
ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities; and

ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
These ASUs amend ASC Topic 825, Financial Instruments-Overall, and address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The main provisions require most investments in equity securities to be measured at fair value through net income, unless they qualify for a measurement alternative, and require fair value changes arising from changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option to be recognized in other comprehensive income. With the exception of disclosure requirements and the application of the measurement alternative for certain equity investments that was adopted prospectively, these ASUs must be adopted on a modified retrospective basis.
January 1, 2018

Early adoption was permitted for the provision related to changes in instrument-specific credit risk for financial liabilities under the FVO.

The Company early adopted the provision related to changes in instrument-specific credit risk beginning January 1, 2016, which resulted in an immaterial cumulative effect adjustment from retained earnings to AOCI. See Note 1, “Significant Accounting Policies,” to the Company's 2016 Annual Report on Form 10-K for additional information regarding the early adoption of this provision.

Additionally, the Company adopted the remaining provisions of these ASUs beginning January 1, 2018, which resulted in an immaterial cumulative effect adjustment to the beginning balance of retained earnings. In connection with the adoption of these ASUs, an immaterial amount of equity securities previously classified as securities AFS were reclassified to other assets, as the AFS classification is no longer permitted for equity securities under these ASUs.

Subsequent to adoption of these ASUs, an observable transaction occurred relating to an equity investment without a readily determinable fair value. As a result, the Company recognized a $23 million increase in Other assets on its Consolidated Balance Sheets and in Other noninterest income on its Consolidated Statements of Income. See Note 9, “Other Assets,” and Note 16, “Fair Value Election and Measurement,” for additional information.

The remaining provisions and disclosure requirements of these ASUs did not have a material impact on the Company's Consolidated Financial Statements and related disclosures upon adoption.

ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
The ASU amends ASC Topic 230, Statement of Cash Flows, to clarify the classification of certain cash receipts and payments within the Company's Consolidated Statements of Cash Flows. These items include: cash payments for debt prepayment or debt extinguishment costs; cash outflows for the settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned and bank-owned life insurance policies; distributions received from equity method investees; and beneficial interests acquired in securitization transactions. The ASU also clarifies that when no specific U.S. GAAP guidance exists and the source of the cash flows are not separately identifiable, the predominant source of cash flow should be used to determine the classification for the item. The ASU must be adopted on a retrospective basis.

January 1, 2018
The Company adopted this ASU on a retrospective basis effective January 1, 2018 and changed the presentation of certain cash payments and receipts within its Consolidated Statements of Cash Flows. Specifically, the Company changed the presentation of proceeds from the settlement of bank-owned life insurance policies from operating activities to investing activities. The Company also changed the presentation of cash payments related to premiums paid for bank-owned life insurance policies from operating activities to investing activities. Lastly, for contingent consideration payments made more than three months after a business combination, the Company changed the presentation for the portion of the cash payment up to the acquisition date fair value of the contingent consideration as a financing activity and any amount paid in excess of the acquisition date fair value as an operating activity. For both the three months ending March 31, 2018 and 2017, the amount of cash payments and receipts relating to these changes were immaterial to the Company’s Consolidated Statements of Cash Flows.

ASU 2017-09, Stock Compensation (Topic 718): Scope of Modification Accounting
This ASU amends ASC Topic 718, Stock Compensation, to provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting per ASC Topic 718, Stock Compensation. The amendments clarify that modification accounting only applies to an entity if the fair value, vesting conditions, or classification of the award changes as a result of changes in the terms or conditions of a share-based payment award. The ASU should be applied prospectively to awards modified on or after the adoption date.

January 1, 2018
The Company adopted this ASU on January 1, 2018 and upon adoption, the ASU did not have a material impact on the Company's Consolidated Financial Statements and related disclosures.
Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Adopted in 2018 (continued)
ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities
The ASU amends ASC Topic 815, Derivatives and Hedging, to simplify the requirements for hedge accounting. Key amendments include: eliminating the requirement to separately measure and report hedge ineffectiveness, requiring changes in the value of the hedging instrument to be presented in the same income statement line as the earnings effect of the hedged item, and the ability to measure the hedged item based on the benchmark interest rate component of the total contractual coupon for fair value hedges. These changes expand the types of risk management strategies eligible for hedge accounting. The ASU also permits entities to qualitatively assert that a hedging relationship was and continues to be highly effective. New incremental disclosures are also required for reporting periods subsequent to the date of adoption. All transition requirements and elections should be applied to hedging relationships existing on the date of adoption using a modified retrospective approach.

January 1, 2019

Early adoption is permitted.
The Company early adopted this ASU beginning January 1, 2018 and modified its measurement methodology for certain hedged items designated under fair value hedge relationships. The Company elected to perform its subsequent assessments of hedge effectiveness using a qualitative, rather than a quantitative, approach. The adoption resulted in an immaterial cumulative effect adjustment to the opening balance of retained earnings and a basis adjustment to the related hedged items. For additional information on the Company’s derivative and hedging activities, see Note 15, “Derivative Financial Instruments.”

ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI

This ASU amends ASC Topic 220, Income Statement - Reporting Comprehensive Income, to allow for a reclassification from AOCI to Retained earnings for the tax effects stranded in AOCI as a result of the remeasurement of DTAs and DTLs for the change in the federal corporate tax rate pursuant to the 2017 Tax Act, which was recognized through the income tax provision in 2017. The Company may apply this ASU at the beginning of the period of adoption or retrospectively to all periods in which the 2017 Tax Act is enacted.

January 1, 2019

Early adoption is permitted.
The Company early adopted this ASU as of January 1, 2018. Upon adoption of this ASU, the Company elected to reclassify $182 million of stranded tax effects relating to securities AFS, derivative instruments, credit risk on long-term debt, and employee benefit plans from AOCI to retained earnings. This amount was offset by $28 million of stranded tax effects relating to equity securities previously classified as securities AFS, resulting in a net $154 million increase to retained earnings.

Standards Not Yet Adopted
ASU 2016-02, Leases
The ASU creates 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. The ASU does 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. There are several new qualitative and quantitative disclosures required. Upon transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach.

January 1, 2019

Early adoption is permitted.
The Company has formed a cross-functional team to oversee the implementation of this ASU. The Company's implementation efforts are ongoing, including the review of its lease portfolios and related lease accounting policies, the review of its service contracts for embedded leases, and the deployment of a new lease software solution. The Company's adoption of this ASU, which is expected to occur on January 1, 2019, will result in an increase in right-of-use assets and associated lease liabilities, arising from operating leases in which the Company is the lessee, on its Consolidated Balance Sheets.

The amount of the right-of-use assets and associated lease liabilities recorded upon adoption will be based primarily on the present value of unpaid future minimum lease payments, the amount of which will depend on the population of leases in effect at the date of adoption. At March 31, 2018, the Company’s estimate of right-of-use assets and lease liabilities that would be recorded on its Consolidated Balance Sheets upon adoption is in excess of $1 billion. Additionally, the Company is currently evaluating the estimated impact that this ASU may have on its Consolidated Statements of Income.

Standard
Description
Required Date of Adoption
Effect on the Financial Statements or Other Significant Matters
Standards Not Yet Adopted (continued)
ASU 2016-13, Measurement of Credit Losses on Financial Instruments
The ASU adds ASC Topic 326, Financial Instruments-Credit Losses, to replace 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.

The current expected credit loss model does not apply to AFS debt securities; however, the ASU requires 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

Early adoption is permitted beginning January 1, 2019.
The Company has formed a cross-functional team to oversee the implementation of this ASU and has identified the changes necessary to its credit loss estimation methodologies in order to comply with the new accounting standard requirements. Substantial progress has been made to date on implementing these changes, including the development of models, updates to business processes and technology systems, and the documentation of accounting policy decisions. Additionally, the Company is evaluating the impact that this ASU will have on its Consolidated Financial Statements and related disclosures, and the Company currently 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. However, since the magnitude of the anticipated increase in the allowance for credit losses will be impacted by economic conditions and trends in the Company’s portfolio at the time of adoption, the quantitative impact cannot yet be reasonably estimated.

ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
The 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. Entities should recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, but the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis.

January 1, 2020

Early adoption is permitted.
Based on the Company's most recent annual goodwill impairment test performed as of October 1, 2017, there were no reporting units for which the carrying amount of the reporting unit exceeded its fair value; therefore, this ASU would not currently have an impact on the Company's Consolidated Financial Statements and related disclosures. However, if upon the adoption date, which is expected to occur on January 1, 2020, the carrying amount of a reporting unit exceeds its fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value.
v3.8.0.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2018
Revenue from Contract with Customer [Abstract]  
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 or out of scope of ASC Topic 606. The commentary following the tables describes the nature, amount, and timing of the related revenue streams.
 
 Three Months Ended March 31, 2018 1
(Dollars in millions)
 Consumer 2
 
 Wholesale 2
 
  Out of Scope 2, 3
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$104

 

$42

 

$—

 

$146

Other charges and fees
28

 
3

 
56

 
87

Card fees
54

 
26

 
1

 
81

Investment banking income
—

 
84

 
47

 
131

Trading income
—

 
—

 
42

 
42

Trust and investment management income
75

 
—

 
—

 
75

Retail investment services
71

 
1

 
—

 
72

Mortgage servicing related income
—

 
—

 
54

 
54

Mortgage production related income
—

 
—

 
36

 
36

Commercial real estate related income
—

 
—

 
23

 
23

Net securities gains
—

 
—

 
1

 
1

Other noninterest income
6

 
—

 
42

 
48

Total noninterest income

$338

 

$156

 

$302

 

$796

1 Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
2 Consumer and Wholesale totals exclude $105 million and $215 million of out of scope noninterest income, respectively, that is included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Total out of scope noninterest income includes these amounts as well as ($18) million of Corporate Other noninterest income that is out of scope of ASC Topic 606.
3 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.

 
 Three Months Ended March 31, 2017 1
(Dollars in millions)
 Consumer 2
 
 Wholesale 2
 
  Out of Scope 2, 3
 
Total
Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts

$103

 

$45

 

$—

 

$148

Other charges and fees
31

 
3

 
61

 
95

Card fees
54

 
27

 
1

 
82

Investment banking income
—

 
96

 
71

 
167

Trading income
—

 
—

 
51

 
51

Trust and investment management income
75

 
—

 
—

 
75

Retail investment services
67

 
1

 
—

 
68

Mortgage servicing related income
—

 
—

 
58

 
58

Mortgage production related income
—

 
—

 
53

 
53

Commercial real estate related income
—

 
—

 
20

 
20

Net securities gains
—

 
—

 
—

 
—

Other noninterest income
7

 
—

 
23

 
30

Total noninterest income

$337

 

$172

 

$338

 

$847

1 Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
2 Consumer and Wholesale totals exclude $127 million and $229 million of out of scope noninterest income, respectively, that is included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Total out of scope noninterest income includes these amounts as well as ($18) million of Corporate Other noninterest income that is out of scope of ASC Topic 606.
3 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.
v3.8.0.1
Federal Funds Sold and Securities Financing Activities (Tables)
 3 Months Ended
Mar. 31, 2018
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)
March 31, 2018
 
December 31, 2017
Fed funds sold

$20

 

$65

Securities borrowed
449

 
298

Securities purchased under agreements to resell
959

 
1,175

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

$1,428

 

$1,538
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:
 
March 31, 2018
 
December 31, 2017
(Dollars in millions)
Overnight and Continuous
 
Up to 30 days
 
30-90 days
 
Total
 
Overnight and Continuous
 
Up to 30 days
 
30-90 days
 
Total
U.S. Treasury securities

$46

 

$—

 

$—

 

$46

 

$95

 

$—

 

$—

 

$95

Federal agency securities
114

 
18

 
1

 
133

 
101

 
15

 
—

 
116

MBS - agency
857

 
81

 
—

 
938

 
694

 
135

 
—

 
829

CP
36

 
—

 
—

 
36

 
19

 
—

 
—

 
19

Corporate and other debt securities
336

 
149

 
39

 
524

 
316

 
88

 
40

 
444

Total securities sold under agreements to repurchase

$1,389

 

$248

 

$40

 

$1,677

 

$1,225

 

$238

 

$40

 

$1,503
Netting of Financial Instruments - Repurchase Agreements [Table Text Block]
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
March 31, 2018
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,408

 

$—

 

$1,408

1 

$1,394

 

$14

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,677

 
—

 
1,677

 
1,677

 
—

 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
Securities borrowed or purchased under agreements to resell

$1,473

 

$—

 

$1,473

1 

$1,462

 

$11

Financial liabilities:
 
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase
1,503

 
—

 
1,503

 
1,503

 
—


1 Excludes $20 million and $65 million of Fed Funds sold, which are not subject to a master netting agreement at March 31, 2018 and December 31, 2017, respectively
v3.8.0.1
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Trading Securities [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)
March 31, 2018
 
December 31, 2017
Trading Assets and Derivative Instruments:
 
 
 
U.S. Treasury securities

$182

 

$157

Federal agency securities
238

 
395

U.S. states and political subdivisions
123

 
61

MBS - agency
699

 
700

Corporate and other debt securities
804

 
655

CP
169

 
118

Equity securities
51

 
56

Derivative instruments 1
657

 
802

Trading loans 2
2,189

 
2,149

Total trading assets and derivative instruments

$5,112

 

$5,093

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

$698

 

$577

MBS - agency
1

 
—

Corporate and other debt securities
453

 
289

Equity securities
5

 
9

Derivative instruments 1
580

 
408

Total trading liabilities and derivative instruments

$1,737

 

$1,283

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)
March 31, 2018
 
December 31, 2017
Pledged trading assets to secure repurchase agreements 1

$1,151

 

$1,016

Pledged trading assets to secure certain derivative agreements
97

 
72

Pledged trading assets to secure other arrangements
40

 
41

1 Repurchase agreements secured by collateral totaled $1.1 billion and $975 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Securities Available for Sale (Tables)
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Securities Portfolio Composition
Securities Portfolio Composition
 
March 31, 2018
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. Treasury securities

$4,437

 

$—

 

$97

 

$4,340

Federal agency securities
248

 
3

 
2

 
249

U.S. states and political subdivisions
644

 
5

 
13

 
636

MBS - agency residential
22,837

 
146

 
470

 
22,513

MBS - agency commercial
2,320

 
1

 
79

 
2,242

MBS - non-agency residential
53

 
4

 
—

 
57

MBS - non-agency commercial
897

 
—

 
23

 
874

ABS
6

 
1

 
—

 
7

Corporate and other debt securities
16

 
—

 
—

 
16

Total securities AFS

$31,458

 

$160

 

$684

 

$30,934

 
 
 
 
 
 
 
 
 
  December 31, 2017 1
(Dollars in millions)
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. Treasury securities

$4,361

 

$2

 

$32

 

$4,331

Federal agency securities
257

 
3

 
1

 
259

U.S. states and political subdivisions
618

 
7

 
8

 
617

MBS - agency residential
22,616

 
222

 
134

 
22,704

MBS - agency commercial
2,121

 
3

 
38

 
2,086

MBS - non-agency residential
55

 
4

 
—

 
59

MBS - non-agency commercial
862

 
7

 
3

 
866

ABS
6

 
2

 
—

 
8

Corporate and other debt securities
17

 
—

 
—

 
17

Total securities AFS

$30,913

 

$250

 

$216

 

$30,947

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
Investment Income [Table Text Block]
The following table presents interest on securities AFS:
 
Three Months Ended March 31
(Dollars in millions)
2018
 
2017
Taxable interest

$201

 

$180

Tax-exempt interest
5

 
2

Total interest on securities AFS 1

$206

 

$182


1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, income associated with these equity securities was presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
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 investments in securities AFS at March 31, 2018, by remaining contractual maturity, with the exception of MBS and ABS, 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:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$2,731

 

$1,706

 

$—

 

$4,437

Federal agency securities
116

 
40

 
4

 
88

 
248

U.S. states and political subdivisions
6

 
59

 
63

 
516

 
644

MBS - agency residential
1,462

 
4,771

 
16,222

 
382

 
22,837

MBS - agency commercial
1

 
414

 
1,643

 
262

 
2,320

MBS - non-agency residential
—

 
49

 
—

 
4

 
53

MBS - non-agency commercial
—

 
13

 
884

 
—

 
897

ABS
—

 
—

 
5

 
1

 
6

Corporate and other debt securities
7

 
9

 
—

 
—

 
16

Total securities AFS

$1,592

 

$8,086

 

$20,527

 

$1,253

 

$31,458

Fair Value:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$—

 

$2,673

 

$1,667

 

$—

 

$4,340

Federal agency securities
118

 
41

 
4

 
86

 
249

U.S. states and political subdivisions
6

 
61

 
65

 
504

 
636

MBS - agency residential
1,517

 
4,747

 
15,877

 
372

 
22,513

MBS - agency commercial
1

 
400

 
1,589

 
252

 
2,242

MBS - non-agency residential
—

 
53

 
—

 
4

 
57

MBS - non-agency commercial
—

 
12

 
862

 
—

 
874

ABS
—

 
—

 
6

 
1

 
7

Corporate and other debt securities
7

 
9

 
—

 
—

 
16

Total securities AFS

$1,649

 

$7,996

 

$20,070

 

$1,219

 

$30,934

 Weighted average yield 1
3.31
%
 
2.18
%
 
2.86
%
 
3.04
%
 
2.72
%
1 Weighted average yields are based on amortized cost and presented on an FTE basis.
Securities in a Continuous Unrealized Loss Position
Securities AFS in an unrealized loss position at period end are presented in the following tables:
 
March 31, 2018
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
Unrealized
Losses 1
 
Fair
Value
 
Unrealized
Losses 1
 
Fair
Value
 
Unrealized
Losses 1
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$3,508

 

$69

 

$832

 

$28

 

$4,340

 

$97

Federal agency securities
22

 
—

 
53

 
2

 
75

 
2

U.S. states and political subdivisions
384

 
8

 
110

 
5

 
494

 
13

MBS - agency residential
13,742

 
284

 
4,460

 
186

 
18,202

 
470

MBS - agency commercial
1,260

 
33

 
894

 
46

 
2,154

 
79

MBS - non-agency commercial
748

 
18

 
90

 
5

 
838

 
23

ABS
—

 
—

 
4

 
—

 
4

 
—

Corporate and other debt securities
9

 
—

 
—

 
—

 
9

 
—

Total temporarily impaired securities AFS
19,673

 
412


6,443


272


26,116


684

OTTI securities AFS 2:
 
 
 
 
 
 
 
 
 
 
 
ABS
—

 
—

 
1

 
—

 
1

 
—

Total OTTI securities AFS
—

 
—

 
1

 
—

 
1

 
—

Total impaired securities AFS

$19,673

 

$412

 

$6,444

 

$272

 

$26,117

 

$684

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, 2017 1
 
Less than twelve months
 
Twelve months or longer
 
Total
(Dollars in millions)
Fair
Value
 
Unrealized
 Losses 2
 
Fair
Value
 
Unrealized
 Losses 2
 
Fair
Value
 
Unrealized
 Losses 2
Temporarily impaired securities AFS:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$1,993

 

$12

 

$841

 

$20

 

$2,834

 

$32

Federal agency securities
23

 
—

 
60

 
1

 
83

 
1

U.S. states and political subdivisions
267

 
3

 
114

 
5

 
381

 
8

MBS - agency residential
8,095

 
38

 
4,708

 
96

 
12,803

 
134

MBS - agency commercial
887

 
9

 
915

 
29

 
1,802

 
38

MBS - non-agency commercial
134

 
1

 
93

 
2

 
227

 
3

ABS
—

 
—

 
4

 
—

 
4

 
—

Corporate and other debt securities
10

 
—

 
—

 
—

 
10

 
—

Total temporarily impaired securities AFS
11,409

 
63

 
6,735

 
153

 
18,144

 
216

OTTI securities AFS 3:
 
 
 
 
 
 
 
 
 
 
 
ABS
—

 
—

 
1

 
—

 
1

 
—

Total OTTI securities AFS
—

 
—

 
1

 
—

 
1

 
—

Total impaired securities AFS

$11,409

 

$63

 

$6,736

 

$153

 

$18,145

 

$216

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
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.
v3.8.0.1
Loans (Tables)
 3 Months Ended
Mar. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Composition of Loan Portfolio
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Commercial loans:
 
 
 
C&I 1

$66,321

 

$66,356

CRE
5,352

 
5,317

Commercial construction
3,651

 
3,804

Total commercial loans
75,324

 
75,477

Consumer loans:
 
 
 
Residential mortgages - guaranteed
611

 
560

Residential mortgages - nonguaranteed 2
27,165

 
27,136

Residential home equity products
10,241

 
10,626

Residential construction
256

 
298

Guaranteed student
6,693

 
6,633

Other direct
8,941

 
8,729

Indirect
11,869

 
12,140

Credit cards
1,518

 
1,582

Total consumer loans
67,294

 
67,704

LHFI

$142,618

 

$143,181

LHFS 3

$2,377

 

$2,290

1 Includes $3.6 billion and $3.7 billion of lease financing, and $788 million and $778 million of installment loans at March 31, 2018 and December 31, 2017, respectively.
2 Includes $188 million and $196 million of LHFI measured at fair value at March 31, 2018 and December 31, 2017, respectively.
3 Includes $1.4 billion and $1.6 billion of LHFS measured at fair value at March 31, 2018 and December 31, 2017, respectively.
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)
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Risk rating:
 
 
 
 
 
 
 
 
 
 
 
Pass

$64,453

 

$64,546

 

$5,152

 

$5,126

 

$3,597

 

$3,770

Criticized accruing
1,652

 
1,595

 
154

 
167

 
54

 
33

Criticized nonaccruing
216

 
215

 
46

 
24

 
—

 
1

Total

$66,321

 

$66,356

 

$5,352

 

$5,317

 

$3,651

 

$3,804



 
 Consumer Loans 1
 
Residential Mortgages -
Nonguaranteed
 
Residential Home Equity Products
 
Residential Construction
(Dollars in millions)
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$23,732

 

$23,602

 

$8,621

 

$8,946

 

$204

 

$240

620 - 699
2,655

 
2,721

 
1,174

 
1,242

 
45

 
50

Below 620 2
778

 
813

 
446

 
438

 
7

 
8

Total

$27,165

 

$27,136

 

$10,241

 

$10,626

 

$256

 

$298


 
Other Direct
 
Indirect
 
Credit Cards
(Dollars in millions)
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Current FICO score range:
 
 
 
 
 
 
 
 
 
 
 
700 and above

$8,145

 

$7,929

 

$8,867

 

$9,094

 

$1,034

 

$1,088

620 - 699
755

 
757

 
2,270

 
2,344

 
385

 
395

Below 620 2
41

 
43

 
732

 
702

 
99

 
99

Total

$8,941

 

$8,729

 

$11,869

 

$12,140

 

$1,518

 

$1,582


1 Excludes $6.7 billion and $6.6 billion of guaranteed student loans and $611 million and $560 million of guaranteed residential mortgages at March 31, 2018 and December 31, 2017, 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:

 
March 31, 2018
(Dollars in millions)
Accruing
Current
 
Accruing
30-89 Days
Past Due
 
Accruing
90+ Days
Past Due
 
 Nonaccruing 2
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$66,064

 

$32

 

$9

 

$216

 

$66,321

CRE
5,304

 
2

 
—

 
46

 
5,352

Commercial construction
3,651

 
—

 
—

 
—

 
3,651

Total commercial loans
75,019

 
34

 
9

 
262

 
75,324

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
179

 
53

 
379

 
—

 
611

Residential mortgages - nonguaranteed 1
26,838

 
66

 
8

 
253

 
27,165

Residential home equity products
10,006

 
66

 
—

 
169

 
10,241

Residential construction
240

 
—

 
—

 
16

 
256

Guaranteed student
5,148

 
612

 
933

 
—

 
6,693

Other direct
8,893

 
35

 
5

 
8

 
8,941

Indirect
11,780

 
84

 
1

 
4

 
11,869

Credit cards
1,491

 
14

 
13

 
—

 
1,518

Total consumer loans
64,575

 
930

 
1,339

 
450

 
67,294

Total LHFI

$139,594

 

$964

 

$1,348

 

$712

 

$142,618

1 Includes $188 million of loans measured at fair value, the majority of which were accruing current.
2 Nonaccruing loans past due 90 days or more totaled $417 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. 


 
December 31, 2017
(Dollars in millions)
Accruing
Current
 
Accruing
30-89 Days
Past Due
 
Accruing
90+ Days
Past Due
 
 Nonaccruing 2
 
Total
Commercial loans:
 
 
 
 
 
 
 
 
 
C&I

$66,092

 

$42

 

$7

 

$215

 

$66,356

CRE
5,293

 
—

 
—

 
24

 
5,317

Commercial construction
3,803

 
—

 
—

 
1

 
3,804

Total commercial loans
75,188

 
42

 
7

 
240

 
75,477

Consumer loans:
 
 
 
 
 
 
 
 
 
Residential mortgages - guaranteed
159

 
55

 
346

 
—

 
560

Residential mortgages - nonguaranteed 1
26,778

 
148

 
4

 
206

 
27,136

Residential home equity products
10,348

 
75

 
—

 
203

 
10,626

Residential construction
280

 
7

 
—

 
11

 
298

Guaranteed student
4,946

 
659

 
1,028

 
—

 
6,633

Other direct
8,679

 
36

 
7

 
7

 
8,729

Indirect
12,022

 
111

 
—

 
7

 
12,140

Credit cards
1,556

 
13

 
13

 
—

 
1,582

Total consumer loans
64,768

 
1,104

 
1,398

 
434

 
67,704

Total LHFI

$139,956

 

$1,146

 

$1,405

 

$674

 

$143,181

1 Includes $196 million of loans measured at fair value, the majority of which were accruing current.
2 Nonaccruing loans past due 90 days or more totaled $357 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
LHFI Considered Impaired
 
March 31, 2018
 
December 31, 2017
(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

$28

 

$20

 

$—

 

$38

 

$35

 

$—

CRE
21

 
21

 
—

 
—

 
—

 
—

Total commercial loans with no ALLL recorded
49

 
41

 
—

 
38

 
35

 
—

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
453

 
355

 
—

 
458

 
363

 
—

Residential construction
12

 
6

 
—

 
15

 
9

 
—

Total consumer loans with no ALLL recorded
465

 
361

 
—

 
473

 
372

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
C&I
157

 
149

 
22

 
127

 
117

 
19

CRE
25

 
21

 
—

 
21

 
21

 
2

Total commercial loans with an ALLL recorded
182

 
170

 
22

 
148

 
138

 
21

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
1,112

 
1,087

 
107

 
1,133

 
1,103

 
113

Residential home equity products
927

 
871

 
52

 
953

 
895

 
54

Residential construction
91

 
89

 
7

 
93

 
90

 
7

Other direct
57

 
58

 
1

 
59

 
59

 
1

Indirect
129

 
128

 
6

 
123

 
122

 
7

Credit cards
27

 
7

 
1

 
26

 
7

 
1

Total consumer loans with an ALLL recorded
2,343

 
2,240

 
174

 
2,387

 
2,276

 
183

Total impaired LHFI

$3,039

 

$2,812

 

$196

 

$3,046

 

$2,821

 

$204

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 both March 31, 2018 and December 31, 2017 were $2.4 billion of accruing TDRs, of which 98% and 96% were current, respectively. See Note 1, “Significant Accounting Policies,” to the Company's 2017 Annual Report on Form 10-K for further information regarding the Company’s loan impairment policy.



 
Three Months Ended March 31
 
2018
 
2017
(Dollars in millions)
Average
Carrying
Value
 
 Interest 1
Income
Recognized
 
Average
Carrying
Value
 
 Interest 1
Income
Recognized
Impaired LHFI with no ALLL recorded:
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
C&I

$20

 

$—

 

$240

 

$1

CRE
21

 
—

 
—

 
—

Total commercial loans with no ALLL recorded
41

 
—

 
240

 
1

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
353

 
4

 
360

 
4

Residential construction
6

 
—

 
8

 
—

Total consumer loans with no ALLL recorded
359

 
4

 
368

 
4

 
 
 
 
 
 
 
 
Impaired LHFI with an ALLL recorded:
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
C&I
149

 
1

 
165

 
1

CRE
25

 
—

 
17

 
—

Total commercial loans with an ALLL recorded
174

 
1

 
182

 
1

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
1,093

 
12

 
1,216

 
15

Residential home equity products
873

 
9

 
833

 
8

Residential construction
90

 
1

 
105

 
1

Other direct
57

 
1

 
58

 
1

Indirect
131

 
2

 
108

 
1

Credit cards
7

 
—

 
6

 
—

Total consumer loans with an ALLL recorded
2,251

 
25

 
2,326

 
26

Total impaired LHFI

$2,825

 

$30

 

$3,116

 

$32

1 Of the interest income recognized during each of the three months ended March 31, 2018 and 2017, cash basis interest income was less than $1 million.
Nonperforming Assets
NPAs are presented in the following table:

(Dollars in millions)
March 31, 2018
 
December 31, 2017
Nonaccrual loans/NPLs:
 
 
 
Commercial loans:
 
 
 
C&I

$216

 

$215

CRE
46

 
24

Commercial construction
—

 
1

Consumer loans:
 
 
 
Residential mortgages - nonguaranteed
253

 
206

Residential home equity products
169

 
203

Residential construction
16

 
11

Other direct
8

 
7

Indirect
4

 
7

Total nonaccrual loans/NPLs 1
712

 
674

OREO 2
59

 
57

Other repossessed assets
7

 
10

Total NPAs

$778

 

$741

1 Nonaccruing restructured loans are included in total nonaccrual loans/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 $45 million at March 31, 2018 and December 31, 2017, respectively.
TDR Modifications
 
Three Months Ended March 31, 2018 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
46

 

$—

 

$56

 

$56

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
61

 
9

 
8

 
17

Residential home equity products
136

 
—

 
13

 
13

Other direct
114

 
—

 
1

 
1

Indirect
778

 
—

 
20

 
20

Credit cards
308

 
1

 
1

 
2

Total TDR additions
1,443

 

$10

 

$99

 

$109

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

 
Three Months Ended March 31, 2017 1
(Dollars in millions)
Number of Loans Modified
 
Rate Modification
 
Term Extension and/or Other Concessions
 
Total
Commercial loans:
 
 
 
 
 
 
 
C&I
30

 

$—

 

$41

 

$41

Consumer loans:
 
 
 
 
 
 
 
Residential mortgages - nonguaranteed
34

 
4

 
2

 
6

Residential home equity products
655

 
1

 
66

 
67

Other direct
110

 
—

 
1

 
1

Indirect
547

 
—

 
14

 
14

Credit cards
235

 
1

 
—

 
1

Total TDR additions
1,611

 

$6

 

$124

 

$130

1 Includes loans modified under the terms of a TDR that were charged-off during the period.
v3.8.0.1
Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2018
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 is summarized in the following table:
 
Three Months Ended March 31
(Dollars in millions)
2018
 
2017
Balance, beginning of period

$1,814

 

$1,776

Provision for loan losses
38

 
117

Provision for unfunded commitments
(10
)
 
2

Loan charge-offs
(106
)
 
(146
)
Loan recoveries
27

 
34

Balance, end of period

$1,763

 

$1,783

 
 
 
 
Components:
 
 
 
ALLL

$1,694

 

$1,714

Unfunded commitments reserve 1
69

 
69

Allowance for credit losses

$1,763

 

$1,783


1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.
Activity in the ALLL by Segment
Activity in the ALLL by loan segment is presented in the following tables:
 
Three Months Ended March 31, 2018
(Dollars in millions)
Commercial
Loans
 
Consumer
Loans
 
Total
Balance, beginning of period

$1,101

 

$634

 

$1,735

Provision for loan losses
(16
)
 
54

 
38

Loan charge-offs
(23
)
 
(83
)
 
(106
)
Loan recoveries
6

 
21

 
27

Balance, end of period

$1,068

 

$626

 

$1,694

 
 
 
 
 
 
 
Three Months Ended March 31, 2017
(Dollars in millions)
Commercial
Loans
 
Consumer
Loans
 
Total
Balance, beginning of period

$1,124

 

$585

 

$1,709

Provision for loan losses
46

 
71

 
117

Loan charge-offs
(63
)
 
(83
)
 
(146
)
Loan recoveries
13

 
21

 
34

Balance, end of period

$1,120

 

$594

 

$1,714
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses
The Company’s LHFI portfolio and related ALLL is presented in the following tables:
 
March 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

$211

 

$22

 

$2,601

 

$174

 

$2,812

 

$196

Collectively evaluated
75,113

 
1,046

 
64,505

 
452

 
139,618

 
1,498

Total evaluated
75,324

 
1,068

 
67,106

 
626

 
142,430

 
1,694

LHFI measured at fair value
—

 
—

 
188

 
—

 
188

 
—

Total LHFI

$75,324

 

$1,068

 

$67,294

 

$626

 

$142,618

 

$1,694


 
December 31, 2017
 
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

$173

 

$21

 

$2,648

 

$183

 

$2,821

 

$204

Collectively evaluated
75,304

 
1,080

 
64,860

 
451

 
140,164

 
1,531

Total evaluated
75,477

 
1,101

 
67,508

 
634

 
142,985

 
1,735

LHFI measured at fair value
—

 
—

 
196

 
—

 
196

 
—

Total LHFI

$75,477

 

$1,101

 

$67,704

 

$634

 

$143,181

 

$1,735
v3.8.0.1
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block]
Changes in the carrying amounts of other intangible assets for the three months ended March 31 are presented in the following table:
(Dollars in millions)
Residential MSRs - Fair Value
 
Commercial Mortgage Servicing Rights and Other
 
Total
Balance, January 1, 2018

$1,710

 

$81

 

$1,791

Amortization 1
—

 
(5
)
 
(5
)
Servicing rights originated
76

 
4

 
80

Servicing rights purchased
74

 
—

 
74

Changes in fair value:
 
 
 
 

Due to changes in inputs and assumptions 2
111

 
—

 
111

Other changes in fair value 3
(55
)
 
—

 
(55
)
Balance, March 31, 2018

$1,916

 

$80

 

$1,996

 
 
 
 
 
 
Balance, January 1, 2017

$1,572

 

$85

 

$1,657

Amortization 1
—

 
(5
)
 
(5
)
Servicing rights originated
96

 
5

 
101

Changes in fair value:
 
 
 
 


Due to changes in inputs and assumptions 2
27

 
—

 
27

Other changes in fair value 3
(50
)
 
—

 
(50
)
Other 4
—

 
(1
)
 
(1
)
Balance, March 31, 2017

$1,645

 

$84

 

$1,729

1 Does not include expense associated with non-qualified community development investments. See Note 10, "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 Represents measurement period adjustment on other intangible assets acquired previously in the Pillar acquisition.
Schedule of intangible assets [Table Text Block]
The gross carrying value and accumulated amortization of other intangible assets are presented in the following table:
 
March 31, 2018
 
December 31, 2017
(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 mortgage servicing rights

$83

 

($19
)
 

$64

 

$79

 

($14
)
 

$65

Other (definite-lived)
17

 
(13
)
 
4

 
32

 
(28
)
 
4

Unamortized other intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Residential MSRs (carried at fair value)
1,916

 
—

 
1,916

 
1,710

 
—

 
1,710

Other (indefinite-lived)
12

 
—

 
12

 
12

 
—

 
12

Total other intangible assets

$2,028

 

($32
)
 

$1,996

 

$1,833

 

($42
)
 

$1,791

1 Excludes fully amortized other intangible assets.
Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs
A summary of the key inputs used to estimate the fair value of the Company’s residential MSRs at March 31, 2018 and December 31, 2017, and the sensitivity of the fair values to immediate 10% and 20% adverse changes in those inputs, are presented in the following table.
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Fair value of residential MSRs

$1,916

 

$1,710

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

$89

 

$85

Decline in fair value from 20% adverse change
169

 
160

Option adjusted spread (annual)
4
%
 
4
%
Decline in fair value from 10% adverse change

$53

 

$47

Decline in fair value from 20% adverse change
101

 
90

Weighted-average life (in years)
5.6

 
5.4

Weighted-average coupon
4.0
%
 
3.9
%
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
A summary of the key inputs used to estimate the fair value of the Company’s commercial mortgage servicing rights at March 31, 2018 and December 31, 2017, and the sensitivity of the fair values to immediate 10% and 20% adverse changes in those inputs, are presented in the following table.
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Fair value of commercial mortgage servicing rights

$76

 

$75

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)
6
%
 
7
%
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)
7.2

 
7.0

Float earnings rate (annual)
1.1
%
 
1.1
%
v3.8.0.1
Other Assets Other Assets (Tables)
 3 Months Ended
Mar. 31, 2018
Other Assets Disclosure [Abstract]  
Schedule of Other Assets [Table Text Block]
The components of other assets are presented in the following table:
(Dollars in millions)
March 31, 2018
 
December 31, 2017
Equity securities with readily determinable fair values:
 
 
 
Mutual fund investments 1

$135

 

$49

Other equity 1
8

 
7

Equity securities without readily determinable fair values:
 
 
 
FHLB of Atlanta stock 1
15

 
15

Federal Reserve Bank of Atlanta stock 1
403

 
403

Other equity
52

 
26

Lease assets
1,567

 
1,528

Bank-owned life insurance
1,402

 
1,411

Community development investments 2
1,383

 
1,331

Accrued income
936

 
880

Accounts receivable
768

 
2,201

Pension assets, net
476

 
464

Prepaid expenses
279

 
319

OREO
59

 
57

Other
796

 
727

Total other assets

$8,279

 

$9,418

1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
2 See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.
v3.8.0.1
Certain Transfers of Financial Assets and Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2018
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract]  
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 March 31, 2018 and December 31, 2017, as well as the related net charge-offs for the three months ended March 31, 2018 and 2017.
 
Portfolio Balance
 
Past Due and Nonaccrual
 
Net Charge-offs
 
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
Three Months Ended March 31
 
(Dollars in millions)
 
2018
 
2017
 
LHFI portfolio:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial

$75,324

 

$75,477

 

$271

 

$247

 

$17

 

$50

 
Consumer
67,294

 
67,704

 
1,789

 
1,832

 
62

 
62

 
Total LHFI portfolio
142,618

 
143,181

 
2,060

 
2,079

 
79

 
112

 
Managed securitized loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial 1
5,798

 
5,760

 
—

 
—

 
—

 
—

 
Consumer
133,489

 
134,160

 
308

 
171

 
2

2 
3

2 
Total managed securitized loans
139,287

 
139,920

 
308

 
171

 
2

 
3

 
Managed unsecuritized loans 3
2,089

 
2,200

 
340

 
340

 
—

 
—

 
Total managed loans

$283,994

 

$285,301

 

$2,708

 

$2,590

 

$81

 

$115

 

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 $541 million and $602 million of managed securitized loans at March 31, 2018 and December 31, 2017, respectively. Net charge-off data is not reported to the Company for the remaining balance of $132.9 billion and $133.6 billion of managed securitized loans at March 31, 2018 and December 31, 2017, 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.
v3.8.0.1
Net Income Per Common Share (Tables)
 3 Months Ended
Mar. 31, 2018
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 the difference between average basic common shares outstanding and average diluted common shares outstanding are presented in the following table.
 
Three Months Ended March 31
(Dollars and shares in millions, except per share data)
2018
 
2017
Net income

$643

 

$468

Less:
 
 
 
Preferred stock dividends
(31
)
 
(17
)
Net income available to common shareholders

$612

 

$451

 
 
 
 
Average common shares outstanding - basic
468.7

 
490.1

Add dilutive securities:
 
 
 
RSUs
2.8

 
3.2

Common stock warrants and restricted stock
1.4

 
1.8

Stock options
0.7

 
0.9

Average common shares outstanding - diluted
473.6

 
496.0

 
 
 
 
Net income per average common share - diluted

$1.29

 

$0.91

Net income per average common share - basic
1.31

 
0.92
v3.8.0.1
Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2018
Employee Benefit Plans [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
Stock-based compensation expense recognized in Employee compensation in the Consolidated Statements of Income consisted of the following:
 
Three Months Ended March 31
(Dollars in millions)
2018
 
2017
RSUs

$39

 

$34

Phantom stock units 1
17

 
24

Total stock-based compensation expense

$56

 

$58

 
 
 
 
Stock-based compensation tax benefit 2

$13

 

$22

1 Phantom stock units are settled in cash. The Company paid $75 million and $76 million during the three months ended March 31, 2018 and 2017, 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:
 
Three Months Ended March 31
 
Pension Benefits 1
 
Other Postretirement Benefits
(Dollars in millions)
2018
 
2017
 
2018
 
2017
Service cost

$1

 

$1

 

$—

 

$—

Interest cost
23

 
24

 
—

 
—

Expected return on plan assets
(47
)
 
(48
)
 
(1
)
 
(1
)
Amortization of prior service credit
—

 
—

 
(2
)
 
(1
)
Amortization of actuarial loss
6

 
6

 
—

 
—

Net periodic benefit

($17
)
 

($17
)
 

($3
)
 

($2
)
1 Administrative fees are recognized in service cost for each of the periods presented.
v3.8.0.1
Guarantees (Tables)
 3 Months Ended
Mar. 31, 2018
Guarantees [Abstract]  
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)
March 31, 2018
 
December 31, 2017
Outstanding repurchased residential mortgage loans:
Performing LHFI

$197

 

$203

Nonperforming LHFI
18

 
16

Total carrying value of outstanding repurchased residential mortgages

$215

 

$219
v3.8.0.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments [Table Text Block]
The following tables present the Company’s derivative positions at March 31, 2018 and December 31, 2017. The notional amounts in the tables are presented on a gross basis and have been classified within derivative assets or derivative liabilities based on the estimated fair value of the individual contract at March 31, 2018 and December 31, 2017. 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. For contracts constituting a combination of options that contain a written option and a purchased option (such as a collar), the notional amount of each option is presented separately, with the purchased notional amount generally being presented as a derivative asset and the written notional amount being presented as a derivative liability. For other contracts that contain a combination of options, the fair value is generally presented as a single value with the purchased notional amount if the combined fair value is positive, and with the written notional amount if the combined fair value is negative.

 
March 31, 2018
 
Asset Derivatives
 
Liability Derivatives
(Dollars in millions)
Notional
 Amounts 1
 
Fair
Value
 
Notional
 Amounts 1
 
Fair
Value
Derivative instruments designated in cash flow hedging relationships 2
 
 
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI

$9,250

 

$2

 

$2,850

 

$—

 
 
 
 
 
 
 
 
Derivative instruments designated in fair value hedging relationships 3
 
 
 
 
 
 
 
Interest rate contracts hedging fixed rate debt
4,250

 
1

 
2,605

 
—

Interest rate contracts hedging brokered time deposits
30

 
—

 
30

 
—

Subtotal
4,280

 
1

 
2,635

 
—

 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments 4
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
Residential MSRs 5
15,504

 
30

 
19,420

 
11

LHFS, IRLCs 6
3,413

 
13

 
3,111

 
10

LHFI
—

 
—

 
175

 
—

Trading activity 7
74,322

 
708

 
52,545

 
870

Foreign exchange rate contracts hedging loans and trading activity
4,054

 
133

 
3,676

 
121

Credit contracts hedging:
 
 
 
 
 
 
 
LHFI
—

 
—

 
585

 
9

Trading activity 8
1,661

 
22

 
1,673

 
19

Equity contracts hedging trading activity 7
15,050

 
2,070

 
21,964

 
2,372

Other contracts:
 
 
 
 
 
 
 
IRLCs and other 9
1,624

 
18

 
382

 
18

Commodity derivatives
755

 
77

 
748

 
75

Subtotal
116,383

 
3,071

 
104,279

 
3,505

Total derivative instruments

$129,913

 

$3,074

 

$109,764

 

$3,505

 
 
 
 
 
 
 
 
Total gross derivative instruments, before netting
 
 

$3,074

 
 
 

$3,505

Less: Legally enforceable master netting agreements
 
 
(2,009
)
 
 
 
(2,009
)
Less: Cash collateral received/paid
 
 
(408
)
 
 
 
(916
)
Total derivative instruments, after netting
 
 

$657

 
 
 

$580

1 For centrally-cleared derivatives, notional amounts are presented based on the fair value of the related derivative asset or derivative liability after applying variation margin.
2 See “Cash Flow Hedges” in this Note for further discussion.
3 See “Fair Value Hedges” in this Note for further discussion.
4 See “Economic Hedging and Trading Activities” in this Note for further discussion.
5 Amount includes $2.0 billion of notional amounts related to interest rate futures. 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 Amount includes $330 million of notional amounts related to interest rate futures. 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 Amounts include $9.7 billion of notional amounts related to interest rate futures and $1.3 billion of notional amounts related to equity futures. 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. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.
8 Asset and liability amounts include $5 million and $17 million, respectively, of notional amounts from purchased and written credit risk participation agreements, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
9 Includes $49 million notional amount that is based on the 3.2 million of Visa Class B shares, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 14, “Guarantees” for additional information.


 
December 31, 2017
 
Asset Derivatives
 
Liability Derivatives
(Dollars in millions)
Notional
Amounts
 
Fair
Value
 
Notional
Amounts
 
Fair
Value
Derivative instruments designated in cash flow hedging relationships 1
 
 
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI

$5,850

 

$2

 

$8,350

 

$252

 
 
 
 
 
 
 
 
Derivative instruments designated in fair value hedging relationships 2
 
 
 
 
 
 
 
Interest rate contracts hedging fixed rate debt
1,250

 
1

 
4,670

 
58

Interest rate contracts hedging brokered time deposits
30

 
—

 
30

 
—

Subtotal
1,280

 
1

 
4,700

 
58

 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments 3
 
 
 
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
 
 
Residential MSRs 4
31,895

 
119

 
10,126

 
119

LHFS, IRLCs 5
4,550

 
9

 
3,040

 
6

LHFI
90

 
2

 
85

 
2

Trading activity 6
78,223

 
1,066

 
48,143

 
946

Foreign exchange rate contracts hedging loans and trading activity
3,409

 
110

 
3,649

 
102

Credit contracts hedging:
 
 
 
 
 
 
 
LHFI
—

 
—

 
515

 
11

Trading activity 7
1,721

 
15

 
1,733

 
12

Equity contracts hedging trading activity 6
13,837

 
2,499

 
25,070

 
2,857

Other contracts:
 
 
 
 
 
 
 
IRLCs and other 8
1,671

 
18

 
346

 
16

Commodity derivatives
712

 
63

 
710

 
61

Subtotal
136,108

 
3,901

 
93,417

 
4,132

Total derivative instruments

$143,238

 

$3,904

 

$106,467

 

$4,442

 
 
 
 
 
 
 
 
Total gross derivative instruments, before netting
 
 

$3,904

 
 
 

$4,442

Less: Legally enforceable master netting agreements
 
 
(2,731
)
 
 
 
(2,731
)
Less: Cash collateral received/paid
 
 
(371
)
 
 
 
(1,303
)
Total derivative instruments, after netting
 
 

$802

 
 
 

$408

1 See “Cash Flow Hedges” in this Note for further discussion.
2 See “Fair Value Hedges” in this Note for further discussion.
3 See “Economic Hedging and Trading Activities” in this Note for further discussion.
4 Amount includes $16.6 billion of notional amounts related to interest rate futures. 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 Amount includes $190 million of notional amounts related to interest rate futures. 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 Amounts include $9.8 billion of notional amounts related to interest rate futures and $1.2 billion of notional amounts related to equity futures. 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. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.
7 Asset and liability amounts include $4 million and $11 million, respectively, of notional amounts from purchased and written credit risk participation agreements, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
8 Includes $49 million notional amount that is based on the 3.2 million of Visa Class B shares, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 14, “Guarantees” for additional information.
Netting of Financial Instruments - Derivatives [Table Text Block]
The following tables present total gross derivative instrument assets and liabilities at March 31, 2018 and December 31, 2017, 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
March 31, 2018
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$2,805

 

$2,279

 

$526

 

$18

 

$508

Derivatives not subject to master netting arrangement or similar arrangement
17

 
—

 
17

 
—

 
17

Exchange traded derivatives
252

 
138

 
114

 
—

 
114

Total derivative instrument assets

$3,074

 

$2,417

 

$657

1 

$18

 

$639

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

$3,253

 

$2,787

 

$466

 

$34

 

$432

Derivatives not subject to master netting arrangement or similar arrangement
114

 
—

 
114

 
—

 
114

Exchange traded derivatives
138

 
138

 
—

 
—

 
—

Total derivative instrument liabilities

$3,505

 

$2,925

 

$580

2 

$34

 

$546

 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Derivative instrument assets:
 
 
 
 
 
 
 
 
 
Derivatives subject to master netting arrangement or similar arrangement

$3,491

 

$2,923

 

$568

 

$28

 

$540

Derivatives not subject to master netting arrangement or similar arrangement
18

 
—

 
18

 
—

 
18

Exchange traded derivatives
395

 
179

 
216

 
—

 
216

Total derivative instrument assets

$3,904

 

$3,102

 

$802

1 

$28

 

$774

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

$4,128

 

$3,855

 

$273

 

$27

 

$246

Derivatives not subject to master netting arrangement or similar arrangement
130

 
—

 
130

 
—

 
130

Exchange traded derivatives
184

 
179

 
5

 
—

 
5

Total derivative instrument liabilities

$4,442

 

$4,034

 

$408

2 

$27

 

$381

1 At March 31, 2018, $657 million, net of $408 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
2 At March 31, 2018, $580 million, net of $916 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion 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]
Pursuant to the adoption of ASU 2017-12, 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 for the three months ended March 31, 2018. For the three months ended March 31, 2017 the table presented below remains unchanged. The tables do 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
 
Interest on Deposits
 
Total
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
Interest income/(expense), including the effects of fair value and cash flow hedges

$1,398

 

($74
)
 

($131
)
 

$1,193

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

$—

 

$3

 

$—

 

$3

Recognized on derivatives
—

 
(72
)
 
—

 
(72
)
Recognized on hedged items
—

 
69

1 
—

 
69

Net income/(expense) recognized on fair value hedges

$—

 

$—

 

$—

 

$—

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

($5
)
2 

$—

 

$—



($5
)
Net expense recognized on cash flow hedges

($5
)
 

$—

 

$—

 

($5
)
1 Includes $2 million of amortization expense from de-designated fair value hedging relationships.
2 During the three months ended March 31, 2018, the Company also reclassified $4 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.

 
Three Months Ended March 31, 2017
(Dollars in millions)
Amount of Loss on Derivatives
Recognized in Income
 
Amount of Gain
on Related Hedged Items
Recognized in Income
 
Amount of Gain
Recognized in Income
on Hedges
(Ineffective Portion)
Derivative instruments in fair value hedging relationships:
 
 
 
 
 
Interest rate contracts hedging fixed rate debt 1

($11
)
 

$13

 

$2

Interest rate contracts hedging brokered time deposits 1
—

 
—

 
—

Total

($11
)
 

$13

 

$2

1 Amounts are recognized in Trading income in the Consolidated Statements of Income.

 
Three Months Ended March 31, 2017
(Dollars in millions)
Amount of Pre-tax Loss Recognized in OCI on Derivatives
(Effective Portion)
 
Amount of Pre-tax Gain
Reclassified from AOCI into Income
(Effective Portion)
 
Classification of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion)
Derivative instruments in cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts hedging floating rate LHFI 1

($25
)
 

$23

 
Interest and fees on loans held for investment
1 During the three months ended March 31, 2017, the Company also reclassified $18 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are 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]
Pursuant to the adoption of ASU 2017-12, 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
March 31, 2018
 
 
 
 
 
Long-term debt

$5,658

 

($148
)
 

($41
)
Interest-bearing deposits:
 
 
 
 
 
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 (Loss)/Gain Recognized in Income on Derivatives
 
Amount of (Loss)/Gain Recognized in Income on Derivatives During the Three Months Ended
(Dollars in millions)
 
March 31, 2018
 
March 31, 2017
Derivative instruments not designated as hedging instruments:
 
 
 
 
Interest rate contracts hedging:
 
 
 
 
 
Residential MSRs
Mortgage servicing related income
 

($93
)
 

($18
)
LHFS, IRLCs
Mortgage production related income
 
46

 
(15
)
LHFI
Other noninterest income
 
2

 
—

Trading activity
Trading income
 
9

 
11

Foreign exchange rate contracts hedging loans and trading activity
Trading income
 
(2
)
 
(6
)
Credit contracts hedging:
 
 
 
 
 
LHFI
Other noninterest income
 
1

 
(1
)
Trading activity
Trading income
 
6

 
5

Equity contracts hedging trading activity
Trading income
 
1

 
—

Other contracts:
 
 
 
 
 
IRLCs and other
Mortgage production related income,
Commercial real estate related income
 
(6
)
 
48

Commodity derivatives
Trading income
 
—

 
1

Total
 
 

($36
)
 

$25
v3.8.0.1
Fair Value Election and Measurement (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
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.
 
March 31, 2018
 
Fair Value Measurements
 
 
 
 
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$182

 

$—

 

$—

 

$—

 

$182

Federal agency securities
—

 
238

 
—

 
—

 
238

U.S. states and political subdivisions
—

 
123

 
—

 
—

 
123

MBS - agency
—

 
699

 
—

 
—

 
699

Corporate and other debt securities
—

 
804

 
—

 
—

 
804

CP
—

 
169

 
—

 
—

 
169

Equity securities
51

 
—

 
—

 
—

 
51

Derivative instruments
252

 
2,805

 
17

 
(2,417
)
 
657

Trading loans
—

 
2,189

 
—

 
—

 
2,189

Total trading assets and derivative instruments
485

 
7,027

 
17

 
(2,417
)
 
5,112

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,340

 
—

 
—

 
—

 
4,340

Federal agency securities
—

 
249

 
—

 
—

 
249

U.S. states and political subdivisions
—

 
636

 
—

 
—

 
636

MBS - agency residential
—

 
22,513

 
—

 
—

 
22,513

MBS - agency commercial
—

 
2,242

 
—

 
—

 
2,242

MBS - non-agency residential
—

 
57

 
—

 
—

 
57

MBS - non-agency commercial
—

 
874

 
—

 
—

 
874

ABS
—

 
7

 
—

 
—

 
7

Corporate and other debt securities
—

 
16

 
—

 
—

 
16

Total securities AFS 2
4,340

 
26,594

 
—

 
—

 
30,934


 
 
 
 
 
 
 
 
 
LHFS
—

 
1,428

 
—

 
—

 
1,428

LHFI
—

 
—

 
188

 
—

 
188

Residential MSRs
—

 
—

 
1,916

 
—

 
1,916

Other 2
143

 
—

 
—

 
—

 
143

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
698

 
—

 
—

 
—

 
698

MBS - agency
—

 
1

 
—

 
—

 
1

Corporate and other debt securities
—

 
453

 
—

 
—

 
453

Equity securities
5

 
—

 
—

 
—

 
5

Derivative instruments
138

 
3,351

 
16

 
(2,925
)
 
580

Total trading liabilities and derivative instruments
841

 
3,805

 
16

 
(2,925
)
 
1,737

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
302

 
—

 
—

 
302

Long-term debt
—

 
209

 
—

 
—

 
209


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 15, "Derivative Financial Instruments," for additional information.
2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.




 
December 31, 2017
 
Fair Value Measurements
 
 
 
 
(Dollars in millions)
Level 1
 
Level 2
 
Level 3
 
Netting
 Adjustments 1
 
Assets/Liabilities
at Fair Value
Assets
 
 
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities

$157

 

$—

 

$—

 

$—

 

$157

Federal agency securities
—

 
395

 
—

 
—

 
395

U.S. states and political subdivisions
—

 
61

 
—

 
—

 
61

MBS - agency
—

 
700

 
—

 
—

 
700

Corporate and other debt securities
—

 
655

 
—

 
—

 
655

CP
—

 
118

 
—

 
—

 
118

Equity securities
56

 
—

 
—

 
—

 
56

Derivative instruments
395

 
3,493

 
16

 
(3,102
)
 
802

Trading loans
—

 
2,149

 
—

 
—

 
2,149

Total trading assets and derivative instruments
608

 
7,571

 
16

 
(3,102
)
 
5,093

 
 
 
 
 
 
 
 
 
 
Securities AFS:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
4,331

 
—

 
—

 
—

 
4,331

Federal agency securities
—

 
259

 
—

 
—

 
259

U.S. states and political subdivisions
—

 
617

 
—

 
—

 
617

MBS - agency residential
—

 
22,704

 
—

 
—

 
22,704

MBS - agency commercial
—

 
2,086

 
—

 
—

 
2,086

MBS - non-agency residential
—

 
—

 
59

 
—

 
59

MBS - non-agency commercial
—

 
866

 
—

 
—

 
866

ABS
—

 
—

 
8

 
—

 
8

Corporate and other debt securities
—

 
12

 
5

 
—

 
17

Total securities AFS 2
4,331

 
26,544

 
72

 
—

 
30,947

 
 
 
 
 
 
 
 
 
 
LHFS
—

 
1,577

 
—

 
—

 
1,577

LHFI
—

 
—

 
196

 
—

 
196

Residential MSRs
—

 
—

 
1,710

 
—

 
1,710

Other 2
56

 
—

 
—

 
—

 
56

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Trading liabilities and derivative instruments:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
577

 
—

 
—

 
—

 
577

Corporate and other debt securities
—

 
289

 
—

 
—

 
289

Equity securities
9

 
—

 
—

 
—

 
9

Derivative instruments
183

 
4,243

 
16

 
(4,034
)
 
408

Total trading liabilities and derivative instruments
769

 
4,532

 
16

 
(4,034
)
 
1,283

 
 
 
 
 
 
 
 
 
 
Brokered time deposits
—

 
236

 
—

 
—

 
236

Long-term debt
—

 
530

 
—

 
—

 
530


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 15, "Derivative Financial Instruments," for additional information.
2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance
(Dollars in millions)
Fair Value at
March 31, 2018
 
Aggregate UPB at
March 31, 2018
 
Fair Value
Over/(Under)
Unpaid Principal
Assets:
 
 
 
 
 
Trading loans

$2,189

 

$2,142

 

$47

LHFS:
 
 
 
 
 
Accruing
1,428

 
1,397

 
31

LHFI:
 
 
 
 
 
Accruing
183

 
190

 
(7
)
Nonaccrual
5

 
7

 
(2
)

Liabilities:
 
 
 
 
 
Brokered time deposits
302

 
304

 
(2
)
Long-term debt
209

 
203

 
6

 
 
 
 
 
 
(Dollars in millions)
Fair Value at
December 31, 2017
 
Aggregate UPB at
December 31, 2017
 

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

$2,149

 

$2,111

 

$38

LHFS:
 
 
 
 
 
Accruing
1,576

 
1,533

 
43

Past due 90 days or more
1

 
1

 
—

LHFI:
 
 
 
 
 
Accruing
192

 
198

 
(6
)
Nonaccrual
4

 
6

 
(2
)

Liabilities:
 
 
 
 
 
Brokered time deposits
236

 
233

 
3

Long-term debt
530

 
517

 
13
Change in Fair Value of Financial Instruments for which the FVO has been Elected
 
Fair Value Gain/(Loss) for the Three Months Ended
March 31, 2018 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading
Income
 
Mortgage
Production
Related
Income 1
 
Mortgage
Servicing
Related
Income
 
Other
Noninterest
Income
 
Total
Changes in
Fair Values
Included in
 Earnings 2
Assets:
 
 
 
 
 
 
 
 
 
Trading loans

$2

 

$—

 

$—

 

$—

 

$2

LHFS
—

 
(13
)
 
—

 
—

 
(13
)
LHFI
—

 
—

 
—

 
(2
)
 
(2
)
Residential MSRs
—

 
3

 
56

 
—

 
59

Liabilities:
 
 
 
 
 
 
 
 
 
Brokered time deposits
7

 
—

 
—

 
—

 
7

Long-term debt
3

 
—

 
—

 
—

 
3

1 Income related to LHFS does not include income from IRLCs. For the three months ended March 31, 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 months ended March 31, 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.


 
Fair Value Gain/(Loss) for the Three Months Ended
March 31, 2017 for Items Measured at Fair Value
Pursuant to Election of the FVO
(Dollars in millions)
Trading
Income
 
Mortgage
Production
Related
Income 1
 
Mortgage
Servicing
Related
Income
 
Other
Noninterest
Income
 
Total
Changes in
Fair Values
Included in
Earnings 2
Assets:
 
 
 
 
 
 
 
 
 
Trading loans

$2

 

$—

 

$—

 

$—

 

$2

LHFS
—

 
12

 
—

 
—

 
12

Residential MSRs
—

 
1

 
(24
)
 
—

 
(23
)
Liabilities:
 
 
 
 
 
 
 
 
 
Brokered time deposits
1

 
—

 
—

 
—

 
1

Long-term debt
6

 
—

 
—

 
—

 
6

1 Income related to LHFS does not include income from IRLCs. For the three months ended March 31, 2017, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
2 Changes in fair value for the three months ended March 31, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, 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.
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 March 31, 2018
 
Valuation Technique
 
Unobservable Input
 
Range
(weighted average)
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 1

$1

 
Internal model
 
Pull through rate
 
36-100% (79%)
 
MSR value
 
41-190 bps (120 bps)
LHFI
183

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
62-784 bps (181 bps)
Conditional prepayment rate
7-24 CPR (13 CPR)
Conditional default rate
0-2 CDR (0.7 CDR)
5

Collateral based pricing
Appraised value
NM 2
Residential MSRs
1,916

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-33 CPR (13 CPR)
 
Option adjusted spread
 
0-116% (4%)

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 herein for a discussion of valuation assumptions related to the Visa derivative liability.
2 Not meaningful.
 
 Level 3 Significant Unobservable Input Assumptions
(Dollars in millions)
Fair value December 31, 2017
 
Valuation Technique
 
Unobservable Input 1
 
Range
(weighted average)
Assets
 
 
 
 
 
 
 
Trading assets and derivative instruments:
 
 
 
 
 
 
Derivative instruments, net 2

$—

 
Internal model
 
Pull through rate
 
41-100% (81%)
 
MSR value
 
41-190 bps (113 bps)
Securities AFS:
 
 
 
 
 
 
 
MBS - non-agency residential
59

 
Third party pricing
 
N/A
 
 
ABS
8

 
Third party pricing
 
N/A
 
 
Corporate and other debt securities
5

 
Cost
 
N/A
 
 
LHFI
192

 
Monte Carlo/Discounted cash flow
 
Option adjusted spread
 
62-784 bps (215 bps)
 
Conditional prepayment rate
 
2-34 CPR (11 CPR)
 
Conditional default rate
 
0-5 CDR (0.7 CDR)
4

 
Collateral based pricing
 
Appraised value
 
NM 3
Residential MSRs
1,710

 
Monte Carlo/Discounted cash flow
 
Conditional prepayment rate
 
6-30 CPR (13 CPR)
 
Option adjusted spread
 
1-125% (4%)

1 For certain assets and liabilities where the Company utilizes third party pricing, the unobservable inputs and their ranges are not reasonably available, and therefore, have been noted as not applicable ("N/A").
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 herein 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

 
Fair Value Measurements
Using Significant Unobservable Inputs
 
(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
March 31,
2018
 
Included in
Earnings
(held at
March 31, 2018 1)
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$—

 

($6
)
2 

$—

 

$—

 

$—

 

$1

 

$6

 

$—

 

$—

 

$1

 

$16

2 
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

 
(2
)
3 
—

 
—

 
—

 
(7
)
 
—

 
1

 
—

 
188

 
(3
)
3 

1 Change in unrealized gains/(losses) included in earnings during the period related to financial assets still held at March 31, 2018.
2 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production 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.
3 Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income.

 
Fair Value Measurements
Using Significant Unobservable Inputs
 
(Dollars in millions)
Beginning
Balance
January 1,
2017
 
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
March 31,
2017
 
Included in
Earnings
(held at
March 31,
2017 1)
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments, net

$6

 

$48

2 

$—

 

$—

 

$—

 

($1
)
 

($36
)
 

$—

 

$—

 

$17

 

$30

2 
Securities AFS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. states and political subdivisions
4

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
4

 
—

 
MBS - non-agency residential
74

 
—

 
(1
)
3 
—

 
—

 
(2
)
 
—

 
—

 
—

 
71

 
—

 
ABS
10

 
—

 
—

— 
—

 
—

 
(1
)
 
—

 
—

 
—

 
9

 
—

 
Corporate and other debt securities
5

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
5

 
—

 
Total securities AFS
93

 
—


(1
)
3 
—

 
—

 
(3
)
 
—

 
—

 
—

 
89

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential LHFS
12

 
—

 
—

 
—

 
(14
)
 
—

 
(2
)
 
10

 
—

 
6

 
—

 
LHFI
222

 
—

 
—

 
—

 
—

 
(6
)
 
1

 
4

 
—

 
221

 
—

 

1 Change in unrealized gains included in earnings during the period related to financial assets still held at March 31, 2017.
2 Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production related income and amount related to Visa derivative liability is recognized in Other noninterest expense.
3 Amounts recognized in OCI are included in change in net unrealized losses on securities AFS, net of tax.
Change in Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis
 
 
 
Fair Value Measurements
 
(Losses)/Gains for the
Three Months Ended
March 31, 2018
(Dollars in millions)
March 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
LHFS

$13

 

$—

 

$13

 

$—

 

$—

LHFI
48

 
—

 
—

 
48

 
—

OREO
23

 
—

 
—

 
23

 
(2
)
Other assets
41

 
—

 
31

 
10

 
15

 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements
 
Losses for the
Year Ended
December 31, 2017
(Dollars in millions)
December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
LHFS

$13

 

$—

 

$13

 

$—

 

$—

LHFI
49

 
—

 
—

 
49

 
—

OREO
24

 
—

 
1

 
23

 
(4
)
Other assets
53

 
—

 
4

 
49

 
(43
)
Carrying Amounts and Fair Values of the Company's Financial Instruments
 
 
 
March 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
 

$7,304

 

$7,304

 

$7,304

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
5,112

 
5,112

 
485

 
4,610

 
17

Securities AFS
Fair value
 
30,934

 
30,934

 
4,340

 
26,594

 
—

LHFS
Fair value
1 

2,377

 
2,389

 
—

 
2,348

 
41

LHFI, net
Amortized cost
2 

140,924

 
141,174

 
—

 
—

 
141,174

Other
Amortized cost
3 

561

 
561

 
143

 
—

 
418

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Time deposits
Amortized cost
 
13,715

 
13,478

 
—

 
13,478

 
—

Short-term borrowings
Amortized cost
 
3,572

 
3,572

 
—

 
3,572

 
—

Long-term debt
Amortized cost
2 

10,692

 
10,743

 
—

 
9,631

 
1,112

Trading liabilities and derivative instruments
Fair value
 
1,737

 
1,737

 
841

 
880

 
16

1 Certain LHFS are recorded at the lower of cost or fair value.
2 The Company elected to measure certain LHFI and fixed rate debt issuances at fair value on a recurring basis.
3 Other financial assets recorded at amortized cost consist primarily of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets also include mutual fund investments and other equity securities with readily determinable fair values, which are measured at fair value on a recurring basis.

 
 
 
December 31, 2017
 
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
 

$6,912

 

$6,912

 

$6,912

 

$—

 

$—

Trading assets and derivative instruments
Fair value
 
5,093

 
5,093

 
608

 
4,469

 
16

Securities AFS
Fair value
 
30,947

 
30,947

 
4,331

 
26,544

 
72

LHFS
Fair value
1 

2,290

 
2,293

 
—

 
2,239

 
54

LHFI, net
Amortized cost
2 

141,446

 
141,575

 
—

 
—

 
141,575

Other
Amortized cost
3 

474

 
474

 
56

 
—

 
418

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Time deposits
Amortized cost
 
12,076

 
11,906

 
—

 
11,906

 
—

Short-term borrowings
Amortized cost
 
4,781

 
4,781

 
—

 
4,781

 
—

Long-term debt
Amortized cost
2 

9,785

 
9,892

 
—

 
8,834

 
1,058

Trading liabilities and derivative instruments
Fair value
 
1,283

 
1,283

 
769

 
498

 
16

1 Certain LHFS are recorded at the lower of cost or fair value.
2 The Company elected to measure certain LHFI and fixed rate debt issuances at fair value on a recurring basis.
3 Other financial assets recorded at amortized cost consist primarily of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets also include mutual fund investments and other equity securities with determinable fair values, which are measured at fair value on a recurring basis.
v3.8.0.1
Business Segment Reporting Business Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Business Segment Reporting [Table Text Block]


 
Three Months Ended March 31, 2018
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$74,093

 

$68,741

 

$90

 

($4
)
 

$142,920

Average consumer and commercial deposits
103,099

 
56,050

 
204

 
(184
)
 
159,169

Average total assets
83,716

 
82,472

 
35,489

 
2,455

 
204,132

Average total liabilities
103,925

 
61,902

 
13,877

 
(177
)
 
179,527

Average total equity
—

 
—

 
—

 
24,605

 
24,605

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$961

 

$563

 

($28
)
 

($55
)
 

$1,441

FTE adjustment
—

 
20

 
1

 
(1
)
 
20

Net interest income-FTE 1
961

 
583

 
(27
)
 
(56
)
 
1,461

Provision/(benefit) for credit losses 2
60

 
(32
)
 
—

 
—

 
28

Net interest income after provision/(benefit) for credit losses-FTE
901

 
615

 
(27
)
 
(56
)
 
1,433

Total noninterest income
443

 
371

 
14

 
(32
)
 
796

Total noninterest expense
966

 
477

 
(21
)
 
(5
)
 
1,417

Income before provision for income taxes-FTE
378

 
509

 
8

 
(83
)
 
812

Provision for income taxes-FTE 3
83

 
119

 
9

 
(44
)
 
167

Net income including income attributable to noncontrolling interest
295

 
390

 
(1
)
 
(39
)
 
645

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$295

 

$390

 

($3
)
 

($39
)
 

$643


1 Presented on a matched maturity funds transfer price basis for the segments.
2 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) 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 March 31, 2017 1, 2
(Dollars in millions)
Consumer
 
Wholesale
 
Corporate Other
 
Reconciling
Items
 
Consolidated
Balance Sheets:
 
 
 
 
 
 
 
 
 
Average LHFI

$71,147

 

$71,237

 

$1,286

 

$—

 

$143,670

Average consumer and commercial deposits
101,941

 
56,866

 
117

 
(50
)
 
158,874

Average total assets
81,265

 
84,632

 
35,241

 
3,114

 
204,252

Average total liabilities
102,896

 
62,512

 
15,196

 
(23
)
 
180,581

Average total equity
—

 
—

 
—

 
23,671

 
23,671

Statements of Income:
 
 
 
 
 
 
 
 
 
Net interest income

$894

 

$527

 

$26

 

($81
)
 

$1,366

FTE adjustment
—

 
34

 
1

 
(1
)
 
34

Net interest income-FTE 3
894

 
561

 
27

 
(82
)
 
1,400

Provision for credit losses 4
88

 
32

 
—

 
(1
)
 
119

Net interest income after provision for credit losses-FTE
806

 
529

 
27

 
(81
)
 
1,281

Total noninterest income
464

 
401

 
24

 
(42
)
 
847

Total noninterest expense
992

 
479

 
(2
)
 
(4
)
 
1,465

Income before provision for income taxes-FTE
278

 
451

 
53

 
(119
)
 
663

Provision for income taxes-FTE 5
100

 
168

 
(6
)
 
(69
)
 
193

Net income including income attributable to noncontrolling interest
178

 
283

 
59

 
(50
)
 
470

Less: Net income attributable to noncontrolling interest
—

 
—

 
2

 
—

 
2

Net income

$178

 

$283

 

$57

 

($50
)
 

$468


1 Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
2 During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
3 Presented on a matched maturity funds transfer price basis for the segments.
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 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
v3.8.0.1
Accumulated Other Comprehensive Income (Tables)
 3 Months Ended
Mar. 31, 2018
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 March 31, 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
(424
)
 
(125
)
 
1

 
2

 
(5
)
 
(551
)
Amounts reclassified to net income
(1
)
 
1

 
—

 
—

 
3

 
3

Other comprehensive (loss)/income, net of tax
(425
)
 
(124
)
 
1

 
2

 
(2
)
 
(548
)
Balance, end of period

($396
)
 

($424
)
 

$—

 

($3
)
 

($699
)
 

($1,522
)
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period

($62
)
 

($157
)
 

($1
)
 

($7
)
 

($594
)


($821
)
Net unrealized gains/(losses) arising during the period
2

 
(16
)
 
—

 
(1
)
 
(9
)
 
(24
)
Amounts reclassified to net income
—

 
(26
)
 
—

 
—

 
4

 
(22
)
Other comprehensive income/(loss), net of tax
2

 
(42
)
 
—

 
(1
)
 
(5
)
 
(46
)
Balance, end of period

($60
)
 

($199
)
 

($1
)
 

($8
)
 

($599
)
 

($867
)

1 Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," 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 March 31
Impacted Line Item in the Consolidated Statements of Income
Details About AOCI Components
 
2018
 
2017
 
Securities AFS:
 
 
 
 
 
 
Realized gains on securities AFS
 

($1
)
 

$—

 
Net securities gains
Tax effect
 
—

 
—

 
Provision for income taxes
 
 
(1
)
 
—

 
 
Derivative Instruments:
 
 
 
 
 
 
Realized losses/(gains) on cash flow hedges
 
1

 
(41
)
 
Interest and fees on loans held for investment
Tax effect
 
—

 
15

 
Provision for income taxes
 
 
1

 
(26
)
 
 
Employee Benefit Plans:
 
 
 
 
 
 
Amortization of prior service credit
 
(2
)
 
(1
)
 
Employee benefits
Amortization of actuarial loss
 
6

 
6

 
Employee benefits
 
 
4

 
5

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

 
4

 
 
 
 
 
 
 
 
 
Total reclassifications from AOCI to net income
 

$3



($22
)
 
 
v3.8.0.1
Significant Accounting Policies Significant Accounting Policies Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
Minimum [Member]  
Significant Accounting Policies [Line Items]  
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals $ 1,000
Stranded Tax Effects in AOCI, Gross Portion [Member]  
Significant Accounting Policies [Line Items]  
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification 182
Stranded Tax Effects in AOCI, Offset Portion [Member]  
Significant Accounting Policies [Line Items]  
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification 28
Stranded Tax Effects in AOCI [Member]  
Significant Accounting Policies [Line Items]  
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification 154
ASU 2014-09 Revenue from Contracts with Customers - Impact on Noninterest Income [Domain]  
Significant Accounting Policies [Line Items]  
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification (3)
ASU 2014-09 Revenue from Contracts with Customers - Impact on Noninterest Expense [Domain]  
Significant Accounting Policies [Line Items]  
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification $ (3)
v3.8.0.1
Revenue Recognition (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Disaggregation of Revenue [Line Items]    
Service charges on deposit accounts $ 146 [1] $ 148 [2]
Fees and Commissions, Other 87 [1] 95 [2]
Fees and Commissions, Credit and Debit Cards 81 [1] 82 [2]
Investment Banking Revenue 131 [1] 167 [2]
Trading Gain (Loss) 42 [1] 51 [2]
Fees and Commissions, Fiduciary and Trust Activities 75 [1] 75 [2]
Investment Advisory, Management and Administrative Fees 72 [1] 68 [2]
Bank Servicing Fees 54 [1] 58 [2]
Fees and Commissions, Mortgage Banking 36 [1] 53 [2]
commercial real estate related income 23 [1] 20 [2]
Gain (Loss) on Sale of Securities, Net 1 [1] 0 [2]
Noninterest Income, Other Operating Income 48 [1] 30 [2]
Noninterest Income 796 [1] 847 [2],[3],[4]
Contract with Customer, Performance Obligation Satisfied in Previous Period 13  
Excluded from Scope of ASC 606 - Consumer [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest Income 105 127
Excluded from Scope of ASC 606 - Wholesale [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest Income 215 229
Excluded from Scope of ASC 606 - Corporate Other [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest Income 18 18
In Scope of ASC 606 - Consumer [Member]    
Disaggregation of Revenue [Line Items]    
Service charges on deposit accounts 104 [1],[5] 103 [2],[6]
Fees and Commissions, Other 28 [1],[5] 31 [2],[6]
Fees and Commissions, Credit and Debit Cards 54 [1],[5] 54 [2],[6]
Investment Banking Revenue 0 [1],[5] 0 [2],[6]
Trading Gain (Loss) 0 [1],[5] 0 [2],[6]
Fees and Commissions, Fiduciary and Trust Activities 75 [1],[5] 75 [2],[6]
Investment Advisory, Management and Administrative Fees 71 [1],[5] 67 [2],[6]
Bank Servicing Fees 0 [1],[5] 0 [2],[6]
Fees and Commissions, Mortgage Banking 0 [1],[5] 0 [2],[6]
commercial real estate related income 0 [1],[5] 0 [2],[6]
Gain (Loss) on Sale of Securities, Net 0 [1],[5] 0 [2],[6]
Noninterest Income, Other Operating Income 6 [1],[5] 7 [2],[6]
Noninterest Income 338 [1],[5] 337 [2],[6]
In Scope of ASC 606 - Wholesale [Member]    
Disaggregation of Revenue [Line Items]    
Service charges on deposit accounts 42 [1],[5] 45 [2],[6]
Fees and Commissions, Other 3 [1],[5] 3 [2],[6]
Fees and Commissions, Credit and Debit Cards 26 [1],[5] 27 [2],[6]
Investment Banking Revenue 84 [1],[5] 96 [2],[6]
Trading Gain (Loss) 0 [1],[5] 0 [2],[6]
Fees and Commissions, Fiduciary and Trust Activities 0 [1],[5] 0 [2],[6]
Investment Advisory, Management and Administrative Fees 1 [1],[5] 1 [2],[6]
Bank Servicing Fees 0 [1],[5] 0 [2],[6]
Fees and Commissions, Mortgage Banking 0 [1],[5] 0 [2],[6]
commercial real estate related income 0 [1],[5] 0 [2],[6]
Gain (Loss) on Sale of Securities, Net 0 [1],[5] 0 [2],[6]
Noninterest Income, Other Operating Income 0 [1],[5] 0 [2],[6]
Noninterest Income 156 [1],[5] 172 [2],[6]
Excluded from Scope of ASC 606 [Member]    
Disaggregation of Revenue [Line Items]    
Service charges on deposit accounts 0 [1],[5],[7] 0 [2],[6],[8]
Fees and Commissions, Other 56 [1],[5],[7] 61 [2],[6],[8]
Fees and Commissions, Credit and Debit Cards 1 [1],[5],[7] 1 [2],[6],[8]
Investment Banking Revenue 47 [1],[5],[7] 71 [2],[6],[8]
Trading Gain (Loss) 42 [1],[5],[7] 51 [2],[6],[8]
Fees and Commissions, Fiduciary and Trust Activities 0 [1],[5],[7] 0 [2],[6],[8]
Investment Advisory, Management and Administrative Fees 0 [1],[5],[7] 0 [2],[6],[8]
Bank Servicing Fees 54 [1],[5],[7] 58 [2],[6],[8]
Fees and Commissions, Mortgage Banking 36 [1],[5],[7] 53 [2],[6],[8]
commercial real estate related income 23 [1],[5],[7] 20 [2],[6],[8]
Gain (Loss) on Sale of Securities, Net 1 [1],[5],[7] 0 [2],[6],[8]
Noninterest Income, Other Operating Income 42 [1],[5],[7] 23 [2],[6],[8]
Noninterest Income $ 302 [1],[5],[7] $ 338 [2],[6],[8]
[1] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
[2] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
[3] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[4] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[5] Consumer and Wholesale totals exclude $105 million and $215 million of out of scope noninterest income, respectively, that is included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Total out of scope noninterest income includes these amounts as well as ($18) million of Corporate Other noninterest income that is out of scope of ASC Topic 606.
[6] Consumer and Wholesale totals exclude $127 million and $229 million of out of scope noninterest income, respectively, that is included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Total out of scope noninterest income includes these amounts as well as ($18) million of Corporate Other noninterest income that is out of scope of ASC Topic 606.
[7] The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
[8] The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income.
v3.8.0.1
Federal Funds Sold and Securities Financing Activities - Additional Information (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Securities Purchased under Agreements to Resell [Abstract]    
Federal Funds Sold $ 20 $ 65
Fair Value of Securities Received as Collateral that Can be Resold or Repledged 1,400 1,500
Fair Value of Securities Received as Collateral that Have Been Resold or Repledged $ 150 $ 177
v3.8.0.1
Schedule of Resale Agreements (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Securities Purchased under Agreements to Resell [Abstract]    
Federal Funds Sold $ 20 $ 65
Securities Borrowed 449 298
Securities Purchased under Agreements to Resell 959 1,175
Federal Funds Sold and Securities Purchased under Agreements to Resell $ 1,428 $ 1,538
v3.8.0.1
Federal Funds Sold and Securities Financing Activities Securities Sold Under Agreements to Repurchase (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase $ 1,677 $ 1,503
US Treasury Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 46 95
US Government Agencies Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 133 116
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 938 829
Commercial Paper [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 36 19
Corporate Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 524 444
Maturity Overnight [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 1,389 1,225
Maturity Overnight [Member] | US Treasury Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 46 95
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 114 101
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 857 694
Maturity Overnight [Member] | Commercial Paper [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 36 19
Maturity Overnight [Member] | Corporate Debt Securities [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 336 316
Maturity up to 30 days [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 248 238
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 0
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 18 15
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 81 135
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 149 88
Maturity 30 to 90 Days [Member]    
securities sold under agreement to repurchase maturity [Line Items]    
Securities Sold under Agreements to Repurchase 40 40
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 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 1 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 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 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 $ 39 $ 40
v3.8.0.1
Federal Funds Sold and Securities Financing Activities Netting of Financial Instruments - Repurchase Agreements (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Assets Sold under Agreements to Repurchase [Line Items]    
Carrying Value of Securities Purchased under Agreements to Resell and Deposits Paid for Securities Borrowed $ 1,408 $ 1,473
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure [1] 1,408 1,473
Securities Purchased under Agreements to Resell, Fair Value of Collateral 1,394 1,462
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement 14 11
Securities Borrowed or Purchased Under Agreements to Resell, Amount Not Offset Against Collateral 0 0
Securities Sold under Agreements to Repurchase, Gross 1,677 1,503
Securities Sold under Agreements to Repurchase 1,677 1,503
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities 1,677 1,503
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
[1] Excludes $20 million and $65 million of Fed Funds sold, which are not subject to a master netting agreement at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Trading Securities (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities [1] $ 5,112 $ 5,093
Trading liabilities 1,737 1,283
US Treasury Securities [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 182 157
Trading liabilities 698 577
US Government Agencies Debt Securities [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 238 395
US States and Political Subdivisions Debt Securities [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 123 61
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 699 700
Trading liabilities 1 0
Corporate Debt Securities [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 804 655
Trading liabilities 453 289
Commercial Paper [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 169 118
Equity Securities [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities 51 56
Trading liabilities 5 9
Derivative Financial Instruments, Assets [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities [2] 657 802
Loans [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading Securities [3] 2,189 2,149
Derivative Financial Instruments, Liabilities [Member]    
Schedule of Trading Securities and Other Trading Assets [Line Items]    
Trading liabilities [2] $ 580 $ 408
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,248 million and $1,086 million at March 31, 2018 and December 31, 2017, respectively.
[2] Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists.
[3] Includes loans related to TRS.
v3.8.0.1
Schedule of Financial Instruments Owned and Pledged as Collateral (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Amount of Repurchase Agreements Secured by Trading Assets $ 1,111 $ 975
Repurchase Agreements [Member]    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Trading Securities Pledged as Collateral [1] 1,151 1,016
Derivative [Member]    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Trading Securities Pledged as Collateral 97 72
Equity Trading [Member]    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Trading Securities Pledged as Collateral $ 40 $ 41
[1] Repurchase agreements secured by collateral totaled $1.1 billion and $975 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Securities Available for Sale (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost $ 31,458 $ 30,913 [1]
Unrealized Gains 160 250 [1]
Unrealized Losses 684 216 [1]
Available-for-sale Securities [2],[3] 30,934 30,947 [1]
US Treasury Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 4,437 4,361
Unrealized Gains 0 2
Unrealized Losses 97 32
Available-for-sale Securities 4,340 4,331
US Government Agencies Debt Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 248 257
Unrealized Gains 3 3
Unrealized Losses 2 1
Available-for-sale Securities 249 259
US States and Political Subdivisions Debt Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 644 618
Unrealized Gains 5 7
Unrealized Losses 13 8
Available-for-sale Securities 636 617
Asset-backed Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 6 6
Unrealized Gains 1 2
Unrealized Losses 0 0
Available-for-sale Securities 7 8
Other Debt Obligations [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 16 17
Unrealized Gains 0 0
Unrealized Losses 0 0
Available-for-sale Securities 16 17
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 2,320 2,121
Unrealized Gains 1 3
Unrealized Losses 79 38
Available-for-sale Securities 2,242 2,086
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 897 862
Unrealized Gains 0 7
Unrealized Losses 23 3
Available-for-sale Securities 874 866
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 22,837 22,616
Unrealized Gains 146 222
Unrealized Losses 470 134
Available-for-sale Securities 22,513 22,704
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 53 55
Unrealized Gains 4 4
Unrealized Losses 0 0
Available-for-sale Securities $ 57 $ 59
[1] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[3] Text selection found with no content.
v3.8.0.1
Securities Available for Sale (Addition Information) (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale Securities [1],[2] $ 30,934 $ 30,947 [3]
Federal Home Loan Bank (FHLB) of Atlanta stock (par value) [4] 15 15
Federal Reserve Bank Stock [4] 403 403
Mutual Fund Investments [4] 135 49
Fair Value, Inputs, Level 3 [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale Securities 0 72
Fair Value, Measurements, Recurring [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale Securities 30,934 [5] 30,947 [6]
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale Securities $ 0 [5] $ 72 [6]
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[2] Text selection found with no content.
[3] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[4] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
[5] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[6] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
Interest and dividends on SAFS (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]    
Interest Income, Securities, Taxable $ 201 $ 180
Interest Income, Securities, Tax Exempt 5 2
Interest and Dividend Income, Securities, Available-for-sale [1],[2] $ 206 $ 182
[1] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, income associated with these equity securities was presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
[2] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other. For periods prior to January 1, 2018, income associated with these equity securities was presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability.
v3.8.0.1
Securities Available for Sale - Additional Information (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale Securities Pledged as Collateral $ 3,800 $ 4,300
Available-for-sale Securities [1],[2] $ 30,934 $ 30,947 [3]
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[2] Text selection found with no content.
[3] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life (Detail)
$ in Millions
Mar. 31, 2018
USD ($)
Distribution of Maturities: Amortized Cost, 1 Year or Less $ 1,592
Distribution of Maturities: Amortized Cost, 1-5 Years 8,086
Distribution of Maturities: Amortized Cost, 5-10 Years 20,527
Distribution of Maturities: Amortized Cost, After 10 Years 1,253
Distribution of Maturities: Amortized Cost, Total 31,458
Distribution of Maturities: Fair Value, 1 Year or Less 1,649
Distribution of Maturities: Fair Value, 1-5 Years 7,996
Distribution of Maturities: Fair Value, 5-10 Years 20,070
Distribution of Maturities: Fair Value, After 10 Years 1,219
Distribution of Maturities: Fair Value, Total $ 30,934
Available For Sale Securities Debt Maturities, Yield, One Year Or Less 3.31% [1]
Available For Sale Securities Debt Maturities, Yield, After One Through Five Years 2.18% [1]
Available For Sale Securities Debt Maturities, Yield, After Five Through Ten Years 2.86% [1]
Available For Sale Securities Debt Maturities, Yield, After Ten Years 3.04% [1]
Available For Sale Securities Debt Maturities, Yield 2.72% [1]
US Treasury Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less $ 0
Distribution of Maturities: Amortized Cost, 1-5 Years 2,731
Distribution of Maturities: Amortized Cost, 5-10 Years 1,706
Distribution of Maturities: Amortized Cost, After 10 Years 0
Distribution of Maturities: Amortized Cost, Total 4,437
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 2,673
Distribution of Maturities: Fair Value, 5-10 Years 1,667
Distribution of Maturities: Fair Value, After 10 Years 0
Distribution of Maturities: Fair Value, Total 4,340
US Government Agencies Debt Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 116
Distribution of Maturities: Amortized Cost, 1-5 Years 40
Distribution of Maturities: Amortized Cost, 5-10 Years 4
Distribution of Maturities: Amortized Cost, After 10 Years 88
Distribution of Maturities: Amortized Cost, Total 248
Distribution of Maturities: Fair Value, 1 Year or Less 118
Distribution of Maturities: Fair Value, 1-5 Years 41
Distribution of Maturities: Fair Value, 5-10 Years 4
Distribution of Maturities: Fair Value, After 10 Years 86
Distribution of Maturities: Fair Value, Total 249
US States and Political Subdivisions Debt Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 6
Distribution of Maturities: Amortized Cost, 1-5 Years 59
Distribution of Maturities: Amortized Cost, 5-10 Years 63
Distribution of Maturities: Amortized Cost, After 10 Years 516
Distribution of Maturities: Amortized Cost, Total 644
Distribution of Maturities: Fair Value, 1 Year or Less 6
Distribution of Maturities: Fair Value, 1-5 Years 61
Distribution of Maturities: Fair Value, 5-10 Years 65
Distribution of Maturities: Fair Value, After 10 Years 504
Distribution of Maturities: Fair Value, Total 636
Asset-backed Securities [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 0
Distribution of Maturities: Amortized Cost, 1-5 Years 0
Distribution of Maturities: Amortized Cost, 5-10 Years 5
Distribution of Maturities: Amortized Cost, After 10 Years 1
Distribution of Maturities: Amortized Cost, Total 6
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 0
Distribution of Maturities: Fair Value, 5-10 Years 6
Distribution of Maturities: Fair Value, After 10 Years 1
Distribution of Maturities: Fair Value, Total 7
Other Debt Obligations [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 7
Distribution of Maturities: Amortized Cost, 1-5 Years 9
Distribution of Maturities: Amortized Cost, 5-10 Years 0
Distribution of Maturities: Amortized Cost, After 10 Years 0
Distribution of Maturities: Amortized Cost, Total 16
Distribution of Maturities: Fair Value, 1 Year or Less 7
Distribution of Maturities: Fair Value, 1-5 Years 9
Distribution of Maturities: Fair Value, 5-10 Years 0
Distribution of Maturities: Fair Value, After 10 Years 0
Distribution of Maturities: Fair Value, Total 16
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 1,462
Distribution of Maturities: Amortized Cost, 1-5 Years 4,771
Distribution of Maturities: Amortized Cost, 5-10 Years 16,222
Distribution of Maturities: Amortized Cost, After 10 Years 382
Distribution of Maturities: Amortized Cost, Total 22,837
Distribution of Maturities: Fair Value, 1 Year or Less 1,517
Distribution of Maturities: Fair Value, 1-5 Years 4,747
Distribution of Maturities: Fair Value, 5-10 Years 15,877
Distribution of Maturities: Fair Value, After 10 Years 372
Distribution of Maturities: Fair Value, Total 22,513
Residential 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 49
Distribution of Maturities: Amortized Cost, 5-10 Years 0
Distribution of Maturities: Amortized Cost, After 10 Years 4
Distribution of Maturities: Amortized Cost, Total 53
Distribution of Maturities: Fair Value, 1 Year or Less 0
Distribution of Maturities: Fair Value, 1-5 Years 53
Distribution of Maturities: Fair Value, 5-10 Years 0
Distribution of Maturities: Fair Value, After 10 Years 4
Distribution of Maturities: Fair Value, Total 57
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]  
Distribution of Maturities: Amortized Cost, 1 Year or Less 1
Distribution of Maturities: Amortized Cost, 1-5 Years 414
Distribution of Maturities: Amortized Cost, 5-10 Years 1,643
Distribution of Maturities: Amortized Cost, After 10 Years 262
Distribution of Maturities: Amortized Cost, Total 2,320
Distribution of Maturities: Fair Value, 1 Year or Less 1
Distribution of Maturities: Fair Value, 1-5 Years 400
Distribution of Maturities: Fair Value, 5-10 Years 1,589
Distribution of Maturities: Fair Value, After 10 Years 252
Distribution of Maturities: Fair Value, Total 2,242
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 13
Distribution of Maturities: Amortized Cost, 5-10 Years 884
Distribution of Maturities: Amortized Cost, After 10 Years 0
Distribution of Maturities: Amortized Cost, Total 897
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 862
Distribution of Maturities: Fair Value, After 10 Years 0
Distribution of Maturities: Fair Value, Total $ 874
[1] Weighted average yields are based on amortized cost and presented on an FTE basis.
v3.8.0.1
Securities with Unrealized Losses (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value $ 19,673 [1] $ 11,409 [2],[3]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 412 [1],[4] 63 [2],[3],[5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 6,444 [1] 6,736 [2],[3]
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 272 [1],[4] 153 [2],[3],[5]
Total, Fair Value 26,117 [1] 18,145 [2],[3]
Total, Unrealized Losses 684 [1],[4] 216 [2],[3],[5]
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 [1] 0 [3]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 0 [1],[4] 0 [3],[5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 1 [1] 1 [3]
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 0 [1],[4] 0 [3],[5]
Total, Fair Value 1 [1] 1 [3]
Total, Unrealized Losses 0 [1],[4] 0 [3],[5]
Other Than Temporarily Impaired Securities [Member] | Asset-backed Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 0 [1] 0 [3]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 0 [1],[4] 0 [3],[5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 1 [1] 1 [3]
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 0 [1],[4] 0 [3],[5]
Total, Fair Value 1 [1] 1 [3]
Total, Unrealized Losses 0 [1],[4] 0 [3],[5]
Temporarily Impaired Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 19,673 11,409 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 412 [4] 63 [2],[5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 6,443 6,735 [2]
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 272 [4] 153 [2],[5]
Total, Fair Value 26,116 18,144 [2]
Total, Unrealized Losses 684 [4] 216 [2],[5]
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 3,508 1,993
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 69 [4] 12 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 832 841
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 28 [4] 20 [5]
Total, Fair Value 4,340 2,834
Total, Unrealized Losses 97 [4] 32 [5]
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 22 23
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 0 [4] 0 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 53 60
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 2 [4] 1 [5]
Total, Fair Value 75 83
Total, Unrealized Losses 2 [4] 1 [5]
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 384 267
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 8 [4] 3 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 110 114
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 5 [4] 5 [5]
Total, Fair Value 494 381
Total, Unrealized Losses 13 [4] 8 [5]
Temporarily Impaired Securities [Member] | Asset-backed Securities [Member]    
Investments, Unrealized Loss Position [Line Items]    
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value 0 0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 0 [4] 0 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 4 4
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 0 [4] 0 [5]
Total, Fair Value 4 4
Total, Unrealized Losses 0 [4] 0 [5]
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 9 10
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 0 [4] 0 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 0 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 0 [4] 0 [5]
Total, Fair Value 9 10
Total, Unrealized Losses 0 [4] 0 [5]
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 1,260 887
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 33 [4] 9 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 894 915
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 46 [4] 29 [5]
Total, Fair Value 2,154 1,802
Total, Unrealized Losses 79 [4] 38 [5]
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 748 134
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 18 [4] 1 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 90 93
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 5 [4] 2 [5]
Total, Fair Value 838 227
Total, Unrealized Losses 23 [4] 3 [5]
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 13,742 8,095
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss 284 [4] 38 [5]
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 4,460 4,708
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss 186 [4] 96 [5]
Total, Fair Value 18,202 12,803
Total, Unrealized Losses $ 470 [4] $ 134 [5]
[1] OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.
[2] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
[3] OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings.
[4] Unrealized losses less than $0.5 million are presented as zero within the table.
[5] Unrealized losses less than $0.5 million are presented as zero within the table.
v3.8.0.1
Gross Realized Gains and Losses on Sales and OTTI on Securities Available for Sale (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
 [5]
Available-for-sale Securities, Gross Realized Gains $ 1 $ 0  
Available-for-sale Securities, Gross Realized Losses 0 0  
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) 0 0  
Gain (Loss) on Sale of Securities, Net (1) [1] $ 0 [2]  
Available-for-sale Securities [3],[4] $ 30,934   $ 30,947
[1] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
[2] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
[3] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[4] Text selection found with no content.
[5] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
OTTI Losses on Available for Sale Securities (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
 [3]
Mar. 31, 2017
Available-for-sale Securities [1],[2] $ 30,934 $ 30,947  
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held $ 23   $ 22
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[2] Text selection found with no content.
[3] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
Rollforward of Credit Losses Recognized in Earnings Related to Securities (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
 [3]
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale Securities, Gross Realized Gains $ 1 $ 0  
Available-for-sale Securities [1],[2] 30,934   $ 30,947
Ending balance 23 22  
Available-for-sale Securities, Gross Realized Losses 0 0  
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) $ 0 $ 0  
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[2] Text selection found with no content.
[3] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
Significant Inputs Considered in Determining the Measurement of Credit Losses Recognized in Earnings for Securities (Detail)
$ in Millions
Mar. 31, 2018
USD ($)
Investment [Line Items]  
Available-for-sale Securities, Debt Securities $ 30,934
v3.8.0.1
Loans - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Other Real Estate $ 59   $ 57
Transfer of Portfolio Loans and Leases to Held-for-sale 204 $ 60  
Transfer of Loans Held-for-sale to Portfolio Loans 6 7  
Loans held for investment sold 36 118  
Long-term Debt [1] 10,692   9,785
Other Short-term Borrowings 706   717
Letters of Credit Outstanding, Amount 4,800   6,700
Loans and Leases Receivable, Impaired, Commitment to Lend 2   2
Loans held for investment [2] 142,618   143,181
Finance Leases Portfolio Segment [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for investment $ 3,577   $ 3,693
Federal National Mortgage Association (FNMA) Insured Loans [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Percentage of Loan Portfolio Current 29.00%   28.00%
Loans held for investment $ 611   $ 560
Government Guarantee Percent 2.00%   1.00%
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for investment purchased $ 475 539  
Percentage of Loan Portfolio Current 77.00%   75.00%
Loans held for investment $ 6,693   $ 6,633
Consumer Indirect [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for investment purchased   $ 99  
Loans held for investment 11,869   12,140
Residential Portfolio Segment [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Other Real Estate 54   51
Loans held for investment $ 38,273   $ 38,620
Percentage of Loans Held for Investment 27.00%   27.00%
Commercial Portfolio Segment [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Other Real Estate $ 3   $ 4
Loans held for investment 75,324   75,477
Geographic Distribution, Foreign [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for investment 1,400   1,400
Home Equity Line of Credit [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for investment [3] 10,241   10,626
Minimum [Member] | Commercial Portfolio Segment [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans And Leases Receivable Individually Evaluated For Impairment 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 10,200   10,100
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Unused Commitments to Extend Credit 3,400   3,000
Federal Home Loan Bank Advances [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Long-term Debt 4   4
Federal Reserve Bank Advances [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans Pledged as Collateral 23,500   24,300
Line of Credit Facility, Remaining Borrowing Capacity 17,600   18,200
Federal Home Loan Bank Advances [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans Pledged as Collateral 38,200   38,000
Line of Credit Facility, Remaining Borrowing Capacity $ 30,300   $ 30,500
[1] Includes debt of consolidated VIEs of $182 million and $189 million at March 31, 2018 and December 31, 2017, respectively.
[2] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
[3] Excludes $6.7 billion and $6.6 billion of guaranteed student loans and $611 million and $560 million of guaranteed residential mortgages at March 31, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee.
v3.8.0.1
Composition of the Company's Loan Portfolio (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [1] $ 142,618 $ 143,181
Loans Held for Sale [2] 2,377 2,290
Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [3] 66,321 66,356
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 5,352 5,317
Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 3,651 3,804
Commercial Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 75,324 75,477
Federal National Mortgage Association (FNMA) Insured Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 611 560
Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [4],[5] 27,165 [6] 27,136 [7]
Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [4] 10,241 10,626
Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [4] 256 298
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 6,693 6,633
Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 8,941 8,729
Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 11,869 12,140
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,518 1,582
Consumer Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment $ 67,294 $ 67,704
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
[2] Includes $1.4 billion and $1.6 billion of LHFS measured at fair value at March 31, 2018 and December 31, 2017, respectively.
[3] Includes $3.6 billion and $3.7 billion of lease financing, and $788 million and $778 million of installment loans at March 31, 2018 and December 31, 2017, respectively.
[4] Excludes $6.7 billion and $6.6 billion of guaranteed student loans and $611 million and $560 million of guaranteed residential mortgages at March 31, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee.
[5] Includes $188 million and $196 million of LHFI measured at fair value at March 31, 2018 and December 31, 2017, respectively.
[6] Includes $188 million of loans measured at fair value, the majority of which were accruing current.
[7] Includes $196 million of loans measured at fair value, the majority of which were accruing current.
v3.8.0.1
Composition of the Company's Loan Portfolio (Additional Information) (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross [1] $ 142,618 $ 143,181
Loans Receivable, Fair Value Disclosure 188 196
Loans Held-for-sale, Fair Value Disclosure 1,428 1,577
Finance Leases Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross 3,577 3,693
Installment Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross 788 778
Consumer Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross 67,294 67,704
Loans Receivable, Fair Value Disclosure $ 188 $ 196
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
LHFI by Credit Quality Indicator (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [1] $ 142,618 $ 143,181
Financing Receivable, Recorded Investment, Nonaccrual Status [3] 712 [2] 674 [4]
Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [5] 66,321 66,356
Financing Receivable, Recorded Investment, Nonaccrual Status 216 [2] 215 [4]
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 5,352 5,317
Financing Receivable, Recorded Investment, Nonaccrual Status 46 [2] 24 [4]
Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 3,651 3,804
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [2] 1 [4]
Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6],[7] 27,165 [8] 27,136 [9]
Financing Receivable, Recorded Investment, Nonaccrual Status 253 [2],[8] 206 [4],[9]
Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 10,241 10,626
Financing Receivable, Recorded Investment, Nonaccrual Status 169 [2] 203 [4]
Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 256 298
Financing Receivable, Recorded Investment, Nonaccrual Status 16 [2] 11 [4]
Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 8,941 8,729
Financing Receivable, Recorded Investment, Nonaccrual Status 8 [2] 7 [4]
Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 11,869 12,140
Financing Receivable, Recorded Investment, Nonaccrual Status 4 [2] 7 [4]
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,518 1,582
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [2] 0 [4]
Pass | Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 64,453 64,546
Pass | Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 5,152 5,126
Pass | Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 3,597 3,770
Criticized Accruing | Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,652 1,595
Criticized Accruing | Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 154 167
Criticized Accruing | Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 54 33
FICO Score 700 and Above [Member] | Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 23,732 23,602
FICO Score 700 and Above [Member] | Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 8,621 8,946
FICO Score 700 and Above [Member] | Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 204 240
FICO Score 700 and Above [Member] | Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 8,145 7,929
FICO Score 700 and Above [Member] | Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 8,867 9,094
FICO Score 700 and Above [Member] | Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 1,034 1,088
FICO Score Between 620 and 699 | Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 2,655 2,721
FICO Score Between 620 and 699 | Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 1,174 1,242
FICO Score Between 620 and 699 | Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6] 45 50
FICO Score Between 620 and 699 | Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 755 757
FICO Score Between 620 and 699 | Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 2,270 2,344
FICO Score Between 620 and 699 | Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment 385 395
FICO Score Below 620 | Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6],[10] 778 813
FICO Score Below 620 | Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6],[10] 446 438
FICO Score Below 620 | Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [6],[10] 7 8
FICO Score Below 620 | Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [10] 41 43
FICO Score Below 620 | Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [10] 732 702
FICO Score Below 620 | Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for investment [10] $ 99 $ 99
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
[2] Nonaccruing loans past due 90 days or more totaled $417 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
[3] Nonaccruing restructured loans are included in total nonaccrual loans/NPLs.
[4] Nonaccruing loans past due 90 days or more totaled $357 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
[5] Includes $3.6 billion and $3.7 billion of lease financing, and $788 million and $778 million of installment loans at March 31, 2018 and December 31, 2017, respectively.
[6] Excludes $6.7 billion and $6.6 billion of guaranteed student loans and $611 million and $560 million of guaranteed residential mortgages at March 31, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee.
[7] Includes $188 million and $196 million of LHFI measured at fair value at March 31, 2018 and December 31, 2017, respectively.
[8] Includes $188 million of loans measured at fair value, the majority of which were accruing current.
[9] Includes $196 million of loans measured at fair value, the majority of which were accruing current.
[10] For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned.
v3.8.0.1
LHFI by Credit Quality Indicator (Additional Information) (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross [1] $ 142,618 $ 143,181
Loans and Leases Receivable, Impaired, Commitment to Lend 2 2
Federal National Mortgage Association (FNMA) Insured Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross 611 560
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and Leases Receivable, Gross $ 6,693 $ 6,633
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Payment Status for the LHFI Portfolio (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current $ 139,594 $ 139,956
Accruing 30-89 Days Past Due 964 1,146
Accruing 90+ Days Past Due 1,348 1,405
Financing Receivable, Recorded Investment, Nonaccrual Status [2] 712 [1] 674 [3]
Total [4] 142,618 143,181
Commercial and Industrial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 66,064 66,092
Accruing 30-89 Days Past Due 32 42
Accruing 90+ Days Past Due 9 7
Financing Receivable, Recorded Investment, Nonaccrual Status 216 [1] 215 [3]
Total [5] 66,321 66,356
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 5,304 5,293
Accruing 30-89 Days Past Due 2 0
Accruing 90+ Days Past Due 0 0
Financing Receivable, Recorded Investment, Nonaccrual Status 46 [1] 24 [3]
Total 5,352 5,317
Commercial Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 3,651 3,803
Accruing 30-89 Days Past Due 0 0
Accruing 90+ Days Past Due 0 0
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [1] 1 [3]
Total 3,651 3,804
Commercial Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 75,019 75,188
Accruing 30-89 Days Past Due 34 42
Accruing 90+ Days Past Due 9 7
Financing Receivable, Recorded Investment, Nonaccrual Status 262 [1] 240 [3]
Total 75,324 75,477
Federal National Mortgage Association (FNMA) Insured Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 179 159
Accruing 30-89 Days Past Due 53 55
Accruing 90+ Days Past Due 379 346
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [1] 0 [3]
Total 611 560
Residential Nonguaranteed [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 26,838 [6] 26,778 [7]
Accruing 30-89 Days Past Due 66 [6] 148 [7]
Accruing 90+ Days Past Due 8 [6] 4 [7]
Financing Receivable, Recorded Investment, Nonaccrual Status 253 [1],[6] 206 [3],[7]
Total [8],[9] 27,165 [6] 27,136 [7]
Home Equity Line of Credit [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 10,006 10,348
Accruing 30-89 Days Past Due 66 75
Accruing 90+ Days Past Due 0 0
Financing Receivable, Recorded Investment, Nonaccrual Status 169 [1] 203 [3]
Total [8] 10,241 10,626
Residential Construction [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 240 280
Accruing 30-89 Days Past Due 0 7
Accruing 90+ Days Past Due 0 0
Financing Receivable, Recorded Investment, Nonaccrual Status 16 [1] 11 [3]
Total [8] 256 298
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 5,148 4,946
Accruing 30-89 Days Past Due 612 659
Accruing 90+ Days Past Due 933 1,028
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [1] 0 [3]
Total 6,693 6,633
Consumer Other Direct [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 8,893 8,679
Accruing 30-89 Days Past Due 35 36
Accruing 90+ Days Past Due 5 7
Financing Receivable, Recorded Investment, Nonaccrual Status 8 [1] 7 [3]
Total 8,941 8,729
Consumer Indirect [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 11,780 12,022
Accruing 30-89 Days Past Due 84 111
Accruing 90+ Days Past Due 1 0
Financing Receivable, Recorded Investment, Nonaccrual Status 4 [1] 7 [3]
Total 11,869 12,140
Credit Card Receivable [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 1,491 1,556
Accruing 30-89 Days Past Due 14 13
Accruing 90+ Days Past Due 13 13
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [1] 0 [3]
Total 1,518 1,582
Consumer Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accruing Current 64,575 64,768
Accruing 30-89 Days Past Due 930 1,104
Accruing 90+ Days Past Due 1,339 1,398
Financing Receivable, Recorded Investment, Nonaccrual Status 450 [1] 434 [3]
Total $ 67,294 $ 67,704
[1] Nonaccruing loans past due 90 days or more totaled $417 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
[2] Nonaccruing restructured loans are included in total nonaccrual loans/NPLs.
[3] Nonaccruing loans past due 90 days or more totaled $357 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
[4] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
[5] Includes $3.6 billion and $3.7 billion of lease financing, and $788 million and $778 million of installment loans at March 31, 2018 and December 31, 2017, respectively.
[6] Includes $188 million of loans measured at fair value, the majority of which were accruing current.
[7] Includes $196 million of loans measured at fair value, the majority of which were accruing current.
[8] Excludes $6.7 billion and $6.6 billion of guaranteed student loans and $611 million and $560 million of guaranteed residential mortgages at March 31, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee.
[9] Includes $188 million and $196 million of LHFI measured at fair value at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Payment Status for the LHFI Portfolio (Additional Information) (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Financing Receivable, Impaired [Line Items]    
Loans Receivable, Fair Value Disclosure $ 188 $ 196
Nonaccruing 90 Plus Days Past Due 417 357
Consumer Portfolio Segment [Member]    
Financing Receivable, Impaired [Line Items]    
Loans Receivable, Fair Value Disclosure $ 188 $ 196
v3.8.0.1
LHFI Considered Impaired (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, Unpaid Principal Balance $ 3,039   $ 3,046
Impaired Financing Receivable, Recorded Investment [1] 2,812   2,821
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 196   204
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 2,825 $ 3,116  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 30 32  
Commercial and Industrial [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 28   38
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 20   35
Impaired Financing Receivable, Unpaid Principal Balance 157   127
Impaired Financing Receivable, Recorded Investment [1] 149   117
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 22   19
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 20 240  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 1  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 149 165  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 1 1  
Commercial Real Estate [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 21   0
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 21   0
Impaired Financing Receivable, Unpaid Principal Balance 25   21
Impaired Financing Receivable, Recorded Investment [1] 21   21
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 0   2
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 21 0  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method 0 0  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 25 17  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 0 0  
Commercial Portfolio Segment [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 49   38
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 41   35
Impaired Financing Receivable, Unpaid Principal Balance 182   148
Impaired Financing Receivable, Recorded Investment [1] 170   138
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 22   21
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 41 240  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 1  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 174 182  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 1 1  
Residential Nonguaranteed [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 453   458
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 355   363
Impaired Financing Receivable, Unpaid Principal Balance 1,112   1,133
Impaired Financing Receivable, Recorded Investment [1] 1,087   1,103
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 107   113
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 353 360  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 4 4  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 1,093 1,216  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 12 15  
Home Equity Line of Credit [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, Unpaid Principal Balance 927   953
Impaired Financing Receivable, Recorded Investment [1] 871   895
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 52   54
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 873 833  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 9 8  
Residential Construction [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 12   15
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 6   9
Impaired Financing Receivable, Unpaid Principal Balance 91   93
Impaired Financing Receivable, Recorded Investment [1] 89   90
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 7   7
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 6 8  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 0 0  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 90 105  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 1 1  
Consumer Other Direct [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, Unpaid Principal Balance 57   59
Impaired Financing Receivable, Recorded Investment [1] 58   59
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 1   1
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 57 58  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 1 1  
Consumer Indirect [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, Unpaid Principal Balance 129   123
Impaired Financing Receivable, Recorded Investment [1] 128   122
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 6   7
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 131 108  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 2 1  
Credit Card Receivable [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, Unpaid Principal Balance 27   26
Impaired Financing Receivable, Recorded Investment [1] 7   7
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 1   1
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 7 6  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] 0 0  
Consumer Portfolio Segment [Member]      
Financing Receivable, Impaired [Line Items]      
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance 465   473
Impaired Financing Receivable, with No Related Allowance, Recorded Investment [1] 361   372
Impaired Financing Receivable, Unpaid Principal Balance 2,343   2,387
Impaired Financing Receivable, Recorded Investment [1] 2,240   2,276
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 174   $ 183
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment 359 368  
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method [2] 4 4  
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment 2,251 2,326  
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method [2] $ 25 $ 26  
[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 each of the three months ended March 31, 2018 and 2017, cash basis interest income was less than $1 million.
v3.8.0.1
LHFI Considered Impaired (Additional Information) (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Financing Receivable, Impaired [Line Items]      
Loans and Leases Receivable, Gross [1] $ 142,618   $ 143,181
Transfer of Loans Held-for-sale to Portfolio Loans 6 $ 7  
Financing Receivable, Modifications, Post-Modification Recorded Investment 109 130  
Impaired Financing Receivable, Interest Income, Cash Basis Method 1 1  
Other Real Estate 59   57
Accrual Loans [Member]      
Financing Receivable, Impaired [Line Items]      
Financing Receivable, Modifications, Recorded Investment $ 2,400   $ 2,400
Percentage Of Accruing Troubled Debt Restructurings, Current 98.00%   96.00%
Proceeds due from FHA or VA [Member]      
Financing Receivable, Impaired [Line Items]      
Other Real Estate $ 43   $ 45
Consumer Other Direct [Member]      
Financing Receivable, Impaired [Line Items]      
Loans and Leases Receivable, Gross 8,941   $ 8,729
Financing Receivable, Modifications, Post-Modification Recorded Investment $ 1 $ 1  
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Nonperforming Assets (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Financing Receivable, Recorded Investment, Nonaccrual Status [2] $ 712 [1] $ 674 [3]
OREO 59 57
Other repossessed assets 7 10
Total nonperforming assets 778 741
Commercial and Industrial [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 216 [1] 215 [3]
Commercial Real Estate [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 46 [1] 24 [3]
Commercial Construction [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 0 [1] 1 [3]
Residential Nonguaranteed [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 253 [1],[4] 206 [3],[5]
Home Equity Line of Credit [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 169 [1] 203 [3]
Residential Construction [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 16 [1] 11 [3]
Consumer Other Direct [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status 8 [1] 7 [3]
Consumer Indirect [Member]    
Financing Receivable, Recorded Investment, Nonaccrual Status $ 4 [1] $ 7 [3]
[1] Nonaccruing loans past due 90 days or more totaled $417 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
[2] Nonaccruing restructured loans are included in total nonaccrual loans/NPLs.
[3] Nonaccruing loans past due 90 days or more totaled $357 million. Nonaccruing loans past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans.
[4] Includes $188 million of loans measured at fair value, the majority of which were accruing current.
[5] Includes $196 million of loans measured at fair value, the majority of which were accruing current.
v3.8.0.1
Nonperforming Assets (Additional Information) (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Other Real Estate $ 59 $ 57
Accrual Loans [Member]    
Mortgage Loans in Process of Foreclosure, Amount 106 101
Proceeds due from FHA or VA [Member]    
Mortgage Loans in Process of Foreclosure, Amount 99 97
Other Real Estate 43 45
Nonaccrual loans [Member]    
Mortgage Loans in Process of Foreclosure, Amount 81 73
Residential Portfolio Segment [Member]    
Other Real Estate 54 51
Commercial Portfolio Segment [Member]    
Other Real Estate 3 4
Land and Land Improvements [Member]    
Other Real Estate $ 2 $ 2
v3.8.0.1
Loans TDR Modifications (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
contracts
Mar. 31, 2017
USD ($)
contracts
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 1,443 1,611
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 10 $ 6
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 99 124
Financing Receivable, Amount Restructured During Period $ 109 $ 130
Commercial and Industrial [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 46 30
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 0
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 56 41
Financing Receivable, Amount Restructured During Period $ 56 $ 41
Residential Nonguaranteed [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 61 34
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 9 $ 4
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 8 2
Financing Receivable, Amount Restructured During Period $ 17 $ 6
Home Equity Line of Credit [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 136 655
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 1
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 13 66
Financing Receivable, Amount Restructured During Period $ 13 $ 67
Consumer Other Direct [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 114 110
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 0
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 1 1
Financing Receivable, Amount Restructured During Period $ 1 $ 1
Consumer Indirect [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 778 547
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 0 $ 0
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 20 14
Financing Receivable, Amount Restructured During Period $ 20 $ 14
Credit Card Receivable [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Restructured During Period, Number Of Contracts | contracts 308 235
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted $ 1 $ 1
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted 1 0
Financing Receivable, Amount Restructured During Period $ 2 $ 1
v3.8.0.1
Activity in the Allowance for Credit Losses (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Components:        
Allowance for credit losses $ 1,763 $ 1,783 $ 1,814 $ 1,776
Provision for loan losses 38 117    
Provision for Other Credit Losses (10) 2    
Allowance for Loan and Lease Losses, Write-offs (106) (146)    
Loan recoveries 27 34    
Loans and Leases Receivable, Allowance 1,694 1,714 $ 1,735 $ 1,709
Unfunded commitments reserve [1] $ 69 $ 69    
[1] The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets.
v3.8.0.1
Activity in the ALLL by segment (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Allowance for Loan and Lease Losses [Roll Forward]        
Provision for loan losses $ 38 $ 117    
Allowance for Loan and Lease Losses, Write-offs (106) (146)    
Loan recoveries 27 34    
Loans and Leases Receivable, Allowance 1,694 1,714 $ 1,735 $ 1,709
Commercial Portfolio Segment [Member]        
Allowance for Loan and Lease Losses [Roll Forward]        
Provision for loan losses (16) 46    
Allowance for Loan and Lease Losses, Write-offs (23) (63)    
Loan recoveries 6 13    
Loans and Leases Receivable, Allowance 1,068 1,120 1,101 1,124
Consumer Portfolio Segment [Member]        
Allowance for Loan and Lease Losses [Roll Forward]        
Provision for loan losses 54 71    
Allowance for Loan and Lease Losses, Write-offs (83) (83)    
Loan recoveries 21 21    
Loans and Leases Receivable, Allowance $ 626 $ 594 $ 634 $ 585
v3.8.0.1
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Dec. 31, 2016
Individually evaluated $ 2,812 $ 2,821    
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 196 204    
Collectively evaluated 139,618 140,164    
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment 1,498 1,531    
Total evaluated 142,430 142,985    
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans 1,694 1,735    
Loans Receivable, Fair Value Disclosure 188 196    
Total [1] 142,618 143,181    
Loans and Leases Receivable, Allowance 1,694 1,735 $ 1,714 $ 1,709
Commercial Portfolio Segment [Member]        
Individually evaluated 211 173    
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 22 21    
Collectively evaluated 75,113 75,304    
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment 1,046 1,080    
Total evaluated 75,324 75,477    
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans 1,068 1,101    
Loans Receivable, Fair Value Disclosure 0 0    
Total 75,324 75,477    
Loans and Leases Receivable, Allowance 1,068 1,101 1,120 1,124
Residential Portfolio Segment [Member]        
Total 38,273 38,620    
Consumer Portfolio Segment [Member]        
Individually evaluated 2,601 2,648    
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment 174 183    
Collectively evaluated 64,505 64,860    
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment 452 451    
Total evaluated 67,106 67,508    
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans 626 634    
Loans Receivable, Fair Value Disclosure 188 196    
Total 67,294 67,704    
Loans and Leases Receivable, Allowance $ 626 $ 634 $ 594 $ 585
[1] Includes loans of consolidated VIEs of $171 million and $179 million at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Bank Servicing Fees $ 54 [1] $ 58 [2]  
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 283,994   $ 285,301
Mortgage Servicing Rights, Fair Value [Member]      
Bank Servicing Fees 107 101  
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 164,700   165,500
Principal Amount Outstanding of Loans Serviced For Third Parties 135,300   136,100
Unpaid Principal Balance of Outstanding Underlying MSRs Purchased 5,900 0  
Principal Amount Sold on Loans Serviced for Third Parties 102 64  
Asset-backed Securities, Securitized Loans and Receivables [Member]      
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 139,287   139,920
Commercial Mortgage Servicing Rights [Member]      
Servicing Asset at Amortized Cost 64   65
Bank Servicing Fees 7 5  
Principal Amount Outstanding of Loans Serviced 31,100   30,100
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 5,800   5,800
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 133,489   134,160
Pillar Financial [Member]      
Bank Servicing Fees 3 $ 4  
Principal Amount Outstanding of Loans Serviced For Third Parties $ 25,300   $ 24,300
[1] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
[2] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
v3.8.0.1
Goodwill and Other Intangible Assets - Changes in the Carrying Amounts of Other Intangible Assets (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Finite-Lived Intangible Assets, Accumulated Amortization [1] $ (32)   $ (42)  
Intangible Assets, Net (Excluding Goodwill) 1,996 [1] $ 1,729 1,791 [1] $ 1,657
Amortization [2] (5) (5)    
Origination of Mortgage Servicing Rights (MSRs) 80 101    
Servicing Assets at Fair Value, Purchased 74      
Due to changes in inputs or assumptions [3] 111 27    
Servicing Asset at Fair Value, Other Changes in Fair Value [4] (55) (50)    
Intangible Assets, Written off Related to Sale of Business Unit [5]   (1)    
Indefinite-Lived Intangible Assets (Excluding Goodwill) 12   12  
Intangible Assets, Gross (Excluding Goodwill) [1] 2,028   1,833  
Mortgage Servicing Rights, Fair Value [Member]        
Servicing Asset at Fair Value, Amount 1,916 1,645 1,710 1,572
Amortization [2] 0 0    
Origination of Mortgage Servicing Rights (MSRs) 76 96    
Servicing Assets at Fair Value, Purchased 74      
Due to changes in inputs or assumptions [3] 111 27    
Servicing Asset at Fair Value, Other Changes in Fair Value [4] (55) (50)    
Intangible Assets, Written off Related to Sale of Business Unit   0    
Other Intangible Assets [Member]        
Finite-Lived Intangible Assets, Gross [1] 17   32  
Finite-Lived Intangible Assets, Accumulated Amortization [1] (13)   (28)  
Finite-Lived Intangible Assets, Net [1] 4   4  
Intangible Assets, Net (Excluding Goodwill) 80 84 81 $ 85
Amortization [2] (5) (5)    
Origination of Mortgage Servicing Rights (MSRs) 4 5    
Servicing Assets at Fair Value, Purchased 0      
Due to changes in inputs or assumptions [3] 0 0    
Servicing Asset at Fair Value, Other Changes in Fair Value [4] 0 0    
Intangible Assets, Written off Related to Sale of Business Unit [5]   $ (1)    
Commercial Mortgage Servicing Rights [Member]        
Finite-Lived Intangible Assets, Gross [1] 83   79  
Finite-Lived Intangible Assets, Accumulated Amortization [1] (19)   (14)  
Finite-Lived Intangible Assets, Net [1] 64   65  
Fair Value, Measurements, Recurring [Member]        
Servicing Asset at Fair Value, Amount $ 1,916   $ 1,710  
[1] Excludes fully amortized other intangible assets.
[2] Does not include expense associated with non-qualified community development investments. See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.
[3] Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates.
[4] Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time.
[5] Represents measurement period adjustment on other intangible assets acquired previously in the Pillar acquisition.
v3.8.0.1
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
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Commercial Mortgage Servicing Rights [Member]    
Servicing Asset at Fair Value, Amount $ 76 $ 75
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 6.00% 7.00%
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 7 years 2 months 7 years
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 $ 1,916 $ 1,710
Discount rate (annual) 4.00% 4.00%
Decline in fair value from 10% adverse change $ 53 $ 47
Decline in fair value from 20% adverse change $ 101 $ 90
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed 13.00% 13.00%
Decline in fair value from 10% adverse change $ 89 $ 85
Decline in fair value from 20% adverse change $ 169 $ 160
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life 5 years 7 months 5 years 5 months
Weighted-average coupon 4.00% 3.90%
v3.8.0.1
Other Assets Other Assests (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Mutual Fund Investments [1] $ 135 $ 49
Marketable Securities, Equity Securities [1] 8 7
Securities Owned Not Readily Marketable 52 26
Federal Home Loan Bank Stock [1] 15 15
Federal Reserve Bank Stock [1] 403 403
Net Investment in Lease 1,567 1,528
Bank Owned Life Insurance 1,402 1,411
Accrued Investment Income Receivable 936 880
Receivables from Customers 768 2,201
Defined Benefit Plan, Funded (Unfunded) Status of Plan 476 464
Prepaid Expense 279 319
Other Real Estate 59 57
Other Assets, Miscellaneous 796 727
Other Assets [2] 8,279 9,418
Other Assets [Member] | Security Owned Not Readily Marketable, Name [Domain]    
Assets, Fair Value Adjustment 23  
Asset Impairment Charges 0  
Community Development Investments [Member]    
Other Assets [3] $ 1,383 $ 1,331
[1] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.
[2] Text selection found with no content.
[3] See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.
v3.8.0.1
Certain Transfers of Financial Assets and Variable Interest Entities - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Assets $ 204,885   $ 205,962
Total liabilities 180,616   180,808
Long-term Debt [1] 10,692   9,785
Derivative Asset, Notional Amount 129,913 [2]   143,238
Trading Securities [3] 5,112   5,093
Other Assets [4] 8,279   9,418
Affordable Housing Tax Credits and Other Tax Benefits, Amount 30 $ 25  
Amortization Method Qualified Affordable Housing Project Investments, Amortization 32 24  
Amortization of Intangible Assets [5] 5 5  
Amortization 15 13  
Variable Interest Entity, Not Primary Beneficiary [Member] | Community Development Investments [Member]      
Investment Tax Credit 18 17  
Amortization of Intangible Assets 14 12  
Variable Interest Entity, Primary Beneficiary [Member]      
Long-term Debt 182   189
Residential Mortgage [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]      
Loans and Leases Receivable, Gain (Loss) on Sales, Net 13 4  
Transferor's Interests in Transferred Financial Assets, Fair Value 21   22
Assets 142   147
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount 21   22
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]      
Loans and Leases Receivable, Gain (Loss) on Sales, Net 9 $ 11  
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member]      
Loans Receivable, Net 185   192
Long-term Debt $ 182   $ 189
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member]      
Government Guarantee Percent 98.00%   98.00%
Total Return Swap [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]      
Derivative Asset, Notional Amount $ 1,700   $ 1,700
Trading Securities 1,700   1,700
Community Development Investments [Member]      
Other Assets [6] 1,383   1,331
Community Development Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]      
Assets 2,300   2,300
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount 665   643
Real Estate Variable Interest Entity Borrowings 317   278
Limited Partner [Member] | Community Development Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]      
Other Assets [6] 1,066   1,053
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount 1,373   1,391
Loans Issued by the Company to the Limited Partnerships $ 344   $ 350
Death, Disability, Bankruptcy [Member] | Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member]      
Government Guarantee Percent 100.00%    
[1] Includes debt of consolidated VIEs of $182 million and $189 million at March 31, 2018 and December 31, 2017, respectively.
[2] For centrally-cleared derivatives, notional amounts are presented based on the fair value of the related derivative asset or derivative liability after applying variation margin.
[3] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,248 million and $1,086 million at March 31, 2018 and December 31, 2017, respectively.
[4] Text selection found with no content.
[5] Does not include expense associated with non-qualified community development investments. See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.
[6] See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.
v3.8.0.1
Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement $ 283,994   $ 285,301
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 2,708   2,590
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 81 $ 115  
Commercial Portfolio Segment [Member]      
Principal Amount Outstanding of Loans Held-in-portfolio 75,324   75,477
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 271   247
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 17 50  
Consumer Portfolio Segment [Member]      
Principal Amount Outstanding of Loans Held-in-portfolio 67,294   67,704
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 1,789   1,832
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 62 62  
Loans and Finance Receivables [Member]      
Principal Amount Outstanding of Loans Held-in-portfolio 142,618   143,181
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 2,060   2,079
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 79 112  
Asset-backed Securities, Securitized Loans and Receivables [Member]      
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 139,287   139,920
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 308   171
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 2 3  
Loans [Member]      
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement [1] 2,089   2,200
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement [1] 340   340
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 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] 5,798   5,760
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement [2] 0   0
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement 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 133,489   134,160
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement 308   $ 171
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement [3] $ 2 $ 3  
[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 $541 million and $602 million of managed securitized loans at March 31, 2018 and December 31, 2017, respectively. Net charge-off data is not reported to the Company for the remaining balance of $132.9 billion and $133.6 billion of managed securitized loans at March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Certain Transfers of Financial Assets and Variable Interest Entities Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Additional Information) (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement $ 283,994 $ 285,301
Asset-backed Securities, Securitized Loans and Receivables [Member]    
Statement [Line Items]    
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement 139,287 139,920
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 133,489 134,160
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 541 602
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 132,948 133,558
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] $ 5,798 $ 5,760
[1] Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company.
v3.8.0.1
Net Income per common share - Additonal Information (Details)
shares in Millions
 3 Months Ended
Mar. 31, 2017
shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 1
v3.8.0.1
Reconciliation of Net Income to Net Income Available to Common Shareholders (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net Income (Loss) Attributable to Parent $ 643 $ 468 [1],[2]
Dividends, Preferred Stock, Cash [3] (31) (17)
Net Income (Loss) Available to Common Stockholders, Basic $ 612 $ 451
Average basic common shares 468,723 490,091
Weighted Average Number of Shares Outstanding, Diluted 473,620 496,002
Net income/(loss) per average common share - diluted $ 1.29 $ 0.91
Earnings Per Share, Basic $ 1.31 $ 0.92
Restricted Stock Units (RSUs) [Member]    
Dilutive securities 2,800 3,200
Warrant [Member]    
Dilutive securities 1,400 1,800
Employee Stock Option [Member]    
Dilutive securities 700 900
[1] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[2] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[3] For the three months ended March 31, 2018, dividends were $1,000 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, $1,406 per share for Series F Preferred Stock, $1,038 per share for Series G Preferred Stock, and $1,281 per share for Series H Preferred Stock.For the three months ended March 31, 2017, dividends were $1,000 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, and $1,406 per share for Series F Preferred Stock.
v3.8.0.1
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Income Taxes Other Information [Line Items]      
Income Tax Expense (Benefit) $ 147 $ 159  
Effective Income Tax Rate Reconciliation, Percent 19.00% 25.00%  
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00%    
Other Tax Expense (Benefit) $ 4 $ 22  
Excess Tax Benefit from Share-based Compensation, Financing Activities 20    
Adjustment to Deferred Taxes Remeasurement Benefit Related to 2017 Tax Act 19    
Tax Expense (Benefit) from Valuation Allowance Adjustment (35)    
Deferred Tax Assets, Valuation Allowance $ (179)   $ (143)
v3.8.0.1
Stock-Based Compensation Expense Recognized in Noninterest Expense (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Restricted Stock Unit Expense $ 39 $ 34
Performance Stock Units Expense [1] 17 24
Share-based Compensation 56 58
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense [2] $ 13 $ 22
[1] Phantom stock units are settled in cash. The Company paid $75 million and $76 million during the three months ended March 31, 2018 and 2017, respectively, related to these share-based liabilities.
[2] Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income.
v3.8.0.1
Employee Benefit Plans Stock-Based Compensation Expense Recognized in Noninterest Expense (Additional Information) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Performance Stock Units, Cash Distributions $ 75 $ 76
v3.8.0.1
Components of Net Periodic Benefit Cost (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Pension Plan [Member]    
Defined Benefit Plan, Service Cost [1] $ 1 $ 1
Defined Benefit Plan, Interest Cost 23 24
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 47 48
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) 0 0
Defined Benefit Plan, Amortization of Gain (Loss) (6) (6)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [1] (17) (17)
Other Postretirement Benefits Plan [Member]    
Defined Benefit Plan, Service Cost 0 0
Defined Benefit Plan, Interest Cost 0 0
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 1 1
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) (2) (1)
Defined Benefit Plan, Amortization of Gain (Loss) 0 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ (3) $ (2)
[1] Administrative fees are recognized in service cost for each of the periods presented.
v3.8.0.1
Guarantees - Additional Information (Details) - USD ($)
shares in Millions, $ in Millions
 1 Months Ended
May 31, 2009
Mar. 31, 2018
Dec. 31, 2017
Derivative Liability, Fair Value, Gross Asset   $ 2,009 $ 2,731
Standby Letters of Credit [Member]      
Guarantor Obligations, Maximum Exposure, Undiscounted   2,500 2,600
Visa Interest [Member]      
Derivative Liability, Fair Value, Gross Asset   15 15
Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member]      
Number Of Shares Sold To Selected Financial Institutions 3.2    
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]      
Loss Contingency Related Loans Unpaid Principal Balance   3,300 3,400
Guarantor Obligations, Maximum Exposure, Undiscounted   940 962
Loss Contingency Accrual, at Carrying Value   $ 11 $ 11
v3.8.0.1
Guarantees Mortgage Loans Repurchase Reserve Rollforward (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Guarantees [Abstract]    
Reserve For Mortgage Loan Repurchase Losses $ 39 $ 40
v3.8.0.1
Guarantees Repurchased Mortgage Loan (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Repurchased mortgage loans, carrying value $ 215 $ 219
Performing Financial Instruments [Member] | Loans Held-For-Investment [Member]    
Repurchased mortgage loans, carrying value 197 203
Nonperforming Financing Receivable [Member] | Loans Held-For-Investment [Member]    
Repurchased mortgage loans, carrying value $ 18 $ 16
v3.8.0.1
Derivative Financial Instruments - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Derivative Liability, Fair Value, Gross Liability $ 3,505   $ 4,442
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net 75    
Derivative Asset, Fair Value, Gross Asset 3,074   3,904
Netted counterparty balance [Member]      
Fair Value, Concentration of Risk, Derivative Instruments, Assets 510   541
Derivative Asset, Fair Value of Collateral 426   399
Derivative Credit Risk Valuation Adjustment, Derivative Assets 3   5
Netted counterparty balance gains [Member]      
Fair Value, Concentration of Risk, Derivative Instruments, Assets 936   900
Derivative liability positions containing provisions conditioned on downgrades [Member]      
Derivative Liability, Fair Value, Gross Liability 900   1,100
Additional Termination Event [Member]      
Derivative Liability, Fair Value, Gross Liability 1    
Additional Termination Event [Member] | Maximum [Member]      
Derivative Liability, Fair Value, Gross Liability 17    
Credit Support Annex [Member]      
Derivative Liability, Fair Value, Gross Liability 900    
Collateral Already Posted, Aggregate Fair Value 900    
Credit Support Annex [Member] | Moody's, Baa2 Rating [Member]      
Additional Collateral, Aggregate Fair Value 1    
Credit Support Annex [Member] | Moody's, Baa3 Rating [Member]      
Additional Collateral, Aggregate Fair Value 4    
Credit Default Swap, Buying Protection [Member]      
Derivative, Notional Amount     5
Total Return Swap [Member]      
Derivative Liability, Fair Value, Gross Liability 19   13
Collateral Already Posted, Aggregate Fair Value 372   368
Derivative, Notional Amount 1,700   1,700
Derivative Asset, Fair Value, Gross Asset $ 22   15
Financial Guarantee [Member]      
Derivative, Average Remaining Maturity 4 years 8 months 5 years 6 months  
Credit Derivative, Maximum Exposure, Undiscounted $ 85   55
Financial Guarantee [Member] | Minimum [Member]      
Derivative, Remaining Maturity 1 year 1 year  
Financial Guarantee [Member] | Maximum [Member]      
Derivative, Remaining Maturity 8 years 9 years  
Interest Rate Contract [Member] | Cash Flow Hedging [Member]      
Derivative Liability, Fair Value, Gross Liability $ 0 [1]   252 [2]
Derivative, Average Remaining Maturity 3 years 7 months 3 years 7 months  
Derivative Asset, Fair Value, Gross Asset $ 2 [1]   $ 2 [2]
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 5 years 5 years  
Interest Income [Member] | Loans Held-For-Investment [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net [3] $ (165) $ (25)  
[1] See “Cash Flow Hedges” in this Note for further discussion.
[2] See “Cash Flow Hedges” in this Note for further discussion.
[3] During the three months ended March 31, 2017, the Company also reclassified $18 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.
v3.8.0.1
Derivative Positions (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Derivative Asset, Notional Amount $ 129,913 [1] $ 143,238
Derivative Asset, Fair Value, Gross Asset 3,074 3,904
Derivative Liability, Notional Amount 109,764 [1] 106,467
Derivative Liability, Fair Value, Gross Liability 3,505 4,442
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 3,074 3,904
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 3,505 4,442
Derivative, Fair Value, Amount Offset Against Collateral, Net (2,009) (2,731)
Derivative Liability, Fair Value, Gross Asset 2,009 2,731
Derivative Asset, Collateral, Obligation to Return Cash, Offset (408) (371)
Derivative Liability, Collateral, Right to Reclaim Cash, Offset (916) (1,303)
Derivative Assets [2] (657) (802)
Derivative Liabilities [3] 580 408
Mortgage Servicing Rights [Member] | Interest rate futures [Member]    
Derivative Liability, Notional Amount 2,000 16,600
Loans Held-For-Sale [Member] | Interest rate futures [Member]    
Derivative Asset, Notional Amount 330 190
Other Trading [Member] | Interest rate futures [Member]    
Derivative Asset, Notional Amount 9,700 9,800
Not Designated as Hedging Instrument [Member]    
Derivative Asset, Notional Amount 116,383 [1],[4] 136,108 [5]
Derivative Asset, Fair Value, Gross Asset 3,071 [4] 3,901 [5]
Derivative Liability, Notional Amount 104,279 [1],[4] 93,417 [5]
Derivative Liability, Fair Value, Gross Liability 3,505 [4] 4,132 [5]
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]    
Derivative Asset, Notional Amount 4,054 [1],[4] 3,409 [5]
Derivative Asset, Fair Value, Gross Asset 133 [4] 110 [5]
Derivative Liability, Notional Amount 3,676 [1],[4] 3,649 [5]
Derivative Liability, Fair Value, Gross Liability 121 [4] 102 [5]
Not Designated as Hedging Instrument [Member] | Equity Contract [Member]    
Derivative Asset, Notional Amount 15,050 [1],[4],[6] 13,837 [5],[7]
Derivative Asset, Fair Value, Gross Asset 2,070 [4],[6] 2,499 [5],[7]
Derivative Liability, Notional Amount 21,964 [1],[4],[6] 25,070 [5],[7]
Derivative Liability, Fair Value, Gross Liability 2,372 [4],[6] 2,857 [5],[7]
Not Designated as Hedging Instrument [Member] | Other Contract [Member]    
Derivative Asset, Notional Amount 1,624 [1],[4],[8] 1,671 [5],[9]
Derivative Asset, Fair Value, Gross Asset 18 [4],[8] 18 [5],[9]
Derivative Liability, Notional Amount 382 [1],[4],[8] 346 [5],[9]
Derivative Liability, Fair Value, Gross Liability 18 [4],[8] 16 [5],[9]
Not Designated as Hedging Instrument [Member] | Commodity [Member]    
Derivative Asset, Notional Amount 755 [1],[4] 712 [5]
Derivative Asset, Fair Value, Gross Asset 77 [4] 63 [5]
Derivative Liability, Notional Amount 748 [1],[4] 710 [5]
Derivative Liability, Fair Value, Gross Liability 75 [4] 61 [5]
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Mortgage Servicing Rights [Member]    
Derivative Asset, Notional Amount 15,504 [1],[4],[10] 31,895 [5],[11]
Derivative Asset, Fair Value, Gross Asset 30 [4],[10] 119 [5],[11]
Derivative Liability, Notional Amount 19,420 [1],[4],[10] 10,126 [5],[11]
Derivative Liability, Fair Value, Gross Liability 11 [4],[10] 119 [5],[11]
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Sale [Member]    
Derivative Asset, Notional Amount 3,413 [1],[4],[12] 4,550 [5],[13]
Derivative Asset, Fair Value, Gross Asset 13 [4],[12] 9 [5],[13]
Derivative Liability, Notional Amount 3,111 [1],[4],[12] 3,040 [5],[13]
Derivative Liability, Fair Value, Gross Liability 10 [4],[12] 6 [5],[13]
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member]    
Derivative Asset, Notional Amount 0 [1],[4] 90 [5]
Derivative Asset, Fair Value, Gross Asset 0 [4] 2 [5]
Derivative Liability, Notional Amount 175 [1],[4] 85 [5]
Derivative Liability, Fair Value, Gross Liability 0 [4] 2 [5]
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Trading [Member]    
Derivative Asset, Notional Amount 74,322 [1],[4],[6] 78,223 [5],[7]
Derivative Asset, Fair Value, Gross Asset 708 [4],[6] 1,066 [5],[7]
Derivative Liability, Notional Amount 52,545 [1],[4],[6] 48,143 [5],[7]
Derivative Liability, Fair Value, Gross Liability 870 [4],[6] 946 [5],[7]
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Loans Held-For-Investment [Member]    
Derivative Asset, Notional Amount 0 [1],[4] 0 [5]
Derivative Asset, Fair Value, Gross Asset 0 [4] 0 [5]
Derivative Liability, Notional Amount 585 [1],[4] 515 [5]
Derivative Liability, Fair Value, Gross Liability 9 [4] 11 [5]
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Other Trading [Member]    
Derivative Asset, Notional Amount 1,661 [1],[4],[14] 1,721 [5],[15]
Derivative Asset, Fair Value, Gross Asset 22 [4],[14] 15 [5],[15]
Derivative Liability, Notional Amount 1,673 [1],[4],[14] 1,733 [5],[15]
Derivative Liability, Fair Value, Gross Liability 19 [4],[14] 12 [5],[15]
Cash Flow Hedging [Member] | Interest Rate Contract [Member]    
Derivative Asset, Notional Amount 9,250 [1],[16] 5,850 [17]
Derivative Asset, Fair Value, Gross Asset 2 [16] 2 [17]
Derivative Liability, Notional Amount 2,850 [1],[16] 8,350 [17]
Derivative Liability, Fair Value, Gross Liability 0 [16] 252 [17]
Fair Value Hedging [Member] | Interest Rate Contract [Member]    
Derivative Asset, Notional Amount 4,280 [1],[18] 1,280 [19]
Derivative Asset, Fair Value, Gross Asset 1 [18] 1 [19]
Derivative Liability, Notional Amount 2,635 [1],[18] 4,700 [19]
Derivative Liability, Fair Value, Gross Liability 0 [18] 58 [19]
Fair Value Hedging [Member] | Fixed Income Interest Rate [Member]    
Derivative Asset, Notional Amount 4,250 [1],[18] 1,250 [19]
Derivative Asset, Fair Value, Gross Asset 1 [18] 1 [19]
Derivative Liability, Notional Amount 2,605 [1],[18] 4,670 [19]
Derivative Liability, Fair Value, Gross Liability 0 [18] 58 [19]
Fair Value Hedging [Member] | Brokered Time Deposits [Member]    
Derivative Asset, Notional Amount 30 [1],[18] 30 [19]
Derivative Asset, Fair Value, Gross Asset 0 [18] 0 [19]
Derivative Liability, Notional Amount 30 [1],[18] 30 [19]
Derivative Liability, Fair Value, Gross Liability $ 0 [18] $ 0 [19]
[1] For centrally-cleared derivatives, notional amounts are presented based on the fair value of the related derivative asset or derivative liability after applying variation margin.
[2] At March 31, 2018, $657 million, net of $408 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
[3] At March 31, 2018, $580 million, net of $916 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
[4] See “Economic Hedging and Trading Activities” in this Note for further discussion.
[5] See “Economic Hedging and Trading Activities” in this Note for further discussion.
[6] Amounts include $9.7 billion of notional amounts related to interest rate futures and $1.3 billion of notional amounts related to equity futures. 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. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.
[7] Amounts include $9.8 billion of notional amounts related to interest rate futures and $1.2 billion of notional amounts related to equity futures. 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. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt.
[8] Includes $49 million notional amount that is based on the 3.2 million of Visa Class B shares, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 14, “Guarantees” for additional information.
[9] Includes $49 million notional amount that is based on the 3.2 million of Visa Class B shares, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 14, “Guarantees” for additional information.
[10] Amount includes $2.0 billion of notional amounts related to interest rate futures. 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.
[11] Amount includes $16.6 billion of notional amounts related to interest rate futures. 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.
[12] Amount includes $330 million of notional amounts related to interest rate futures. 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.
[13] Amount includes $190 million of notional amounts related to interest rate futures. 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.
[14] Asset and liability amounts include $5 million and $17 million, respectively, of notional amounts from purchased and written credit risk participation agreements, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
[15] Asset and liability amounts include $4 million and $11 million, respectively, of notional amounts from purchased and written credit risk participation agreements, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor.
[16] See “Cash Flow Hedges” in this Note for further discussion.
[17] See “Cash Flow Hedges” in this Note for further discussion.
[18] See “Fair Value Hedges” in this Note for further discussion.
[19] See “Fair Value Hedges” in this Note for further discussion.
v3.8.0.1
Derivative Positions (Additional Information) (Detail) - USD ($)
shares in Millions, $ in Millions
 1 Months Ended
May 31, 2009
Mar. 31, 2018
Dec. 31, 2017
Derivative Asset, Notional Amount   $ 129,913 [1] $ 143,238
Derivative Liability, Notional Amount   109,764 [1] 106,467
Credit Risk Contract [Member]      
Derivative Asset, Notional Amount   5 4
Derivative Liability, Notional Amount   17 11
Other Contract [Member] | Visa Interest [Member]      
Derivative Liability, Notional Amount   49 49
Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member]      
Number Of Shares Sold To Selected Financial Institutions 3.2    
Interest rate futures [Member] | Mortgage Servicing Rights [Member]      
Derivative Liability, Notional Amount   2,000 16,600
Interest rate futures [Member] | Loans Held-For-Sale [Member]      
Derivative Asset, Notional Amount   330 190
Interest rate futures [Member] | Other Trading [Member]      
Derivative Asset, Notional Amount   9,700 9,800
Equity Futures [Member] | Equity Contract [Member]      
Derivative Asset, Notional Amount   $ 1,337 $ 1,222
[1] For centrally-cleared derivatives, notional amounts are presented based on the fair value of the related derivative asset or derivative liability after applying variation margin.
v3.8.0.1
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset $ 3,074 $ 3,904
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 3,074 3,904
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 2,417 3,102
Derivative Asset [1] 657 802
Derivative, Collateral, Obligation to Return Securities 18 28
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 639 774
Derivative Liability, Fair Value, Gross Liability 3,505 4,442
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 3,505 4,442
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 2,925 4,034
Derivative Liability [2] 580 408
Derivative, Collateral, Right to Reclaim Securities 34 27
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 546 381
Derivatives Subject to Master Netting Arrangement or Similar Arrangement [Member]    
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset 2,805 3,491
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 2,279 2,923
Derivative Asset 526 568
Derivative, Collateral, Obligation to Return Securities 18 28
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 508 540
Derivative Liability, Fair Value, Gross Liability 3,253 4,128
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 2,787 3,855
Derivative Liability 466 273
Derivative, Collateral, Right to Reclaim Securities 34 27
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 432 246
Derivatives Not Subject to Master Netting Arrangement or Similar Arrangement [Member] [Member]    
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset 17 18
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 0 0
Derivative Asset 17 18
Derivative, Collateral, Obligation to Return Securities 0 0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 17 18
Derivative Liability, Fair Value, Gross Liability 114 130
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 0 0
Derivative Liability 114 130
Derivative, Collateral, Right to Reclaim Securities 0 0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 114 130
Exchange Traded [Member]    
Derivative [Line Items]    
Derivative Asset, Fair Value, Gross Asset 252 395
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 138 179
Derivative Asset 114 216
Derivative, Collateral, Obligation to Return Securities 0 0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 114 216
Derivative Liability, Fair Value, Gross Liability 138 184
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 138 179
Derivative Liability 0 5
Derivative, Collateral, Right to Reclaim Securities 0 0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral $ 0 $ 5
[1] At March 31, 2018, $657 million, net of $408 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
[2] At March 31, 2018, $580 million, net of $916 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
v3.8.0.1
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Additional Information) (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Derivative [Line Items]    
Derivative Asset [1] $ 657 $ 802
Derivative Asset, Collateral, Obligation to Return Cash, Offset 408 371
Derivative Liability [2] 580 408
Derivative Liability, Collateral, Right to Reclaim Cash, Offset 916 1,303
Trading Securities [Member]    
Derivative [Line Items]    
Derivative Asset 657 802
Trading Liabilities [Member]    
Derivative [Line Items]    
Derivative Liability $ 580 $ 408
[1] At March 31, 2018, $657 million, net of $408 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets.
[2] At March 31, 2018, $580 million, net of $916 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets.
v3.8.0.1
Derivative Financial Instruments Derivative Instruments, Gain (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]    
Interest and fees on loans $ 1,398 $ 1,289
Interest Expense, Long-term Debt (74) (70)
Interest on deposits (131) (80)
Total Amounts of Line Items Presented in the Consolidated Statements of Income 1,193  
Fair Value Hedging [Member] | Interest Rate Contract [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Amounts Related to Interest Settlements on Derivatives 3  
Derivative, Gain (Loss) on Derivative, Net (72)  
Gain (Loss) on Fair Value Hedges Recognized in Earnings 69  
Net Income (Expense) Recognized on Hedges 0  
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Other Trading [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net   (11)
Gain (Loss) on Fair Value Hedges Recognized in Earnings   13
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net   2
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 3  
Derivative, Gain (Loss) on Derivative, Net (72)  
Gain (Loss) on Fair Value Hedges Recognized in Earnings [1] 69  
Net Income (Expense) Recognized on Hedges 0  
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt [Member] | Other Trading [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net [2]   (11)
Gain (Loss) on Fair Value Hedges Recognized in Earnings [2]   13
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net [2]   2
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Amounts Related to Interest Settlements on Derivatives 0  
Derivative, Gain (Loss) on Derivative, Net 0  
Gain (Loss) on Fair Value Hedges Recognized in Earnings 0  
Net Income (Expense) Recognized on Hedges 0  
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member] | Other Trading [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net [2]   0
Gain (Loss) on Fair Value Hedges Recognized in Earnings [2]   0
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net [2]   0
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  
Derivative, Gain (Loss) on Derivative, Net 0  
Gain (Loss) on Fair Value Hedges Recognized in Earnings 0  
Net Income (Expense) Recognized on Hedges 0  
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   (5)
Net Income (Expense) Recognized on Hedges (5)  
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
Net Income (Expense) Recognized on Hedges 0  
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net   0
Net Income (Expense) Recognized on Hedges 0  
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 [3]   (5)
Net Income (Expense) Recognized on Hedges (5)  
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | Interest Income [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [4]   23
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net [4] $ (165) $ (25)
[1] Includes $2 million of amortization expense from de-designated fair value hedging relationships.
[2] Amounts are recognized in Trading income in the Consolidated Statements of Income.
[3] During the three months ended March 31, 2018, the Company also reclassified $4 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.
[4] During the three months ended March 31, 2017, the Company also reclassified $18 million of pre-tax gains from AOCI into Net interest income relating to hedging relationships that have been terminated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized.
v3.8.0.1
Derivative Financial Instruments Derivative Instruments, Gain (Loss) (Additional Information) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]      
Amortization Expense Related to De-Designated Fair Value Hedging Relationships $ 2    
Derivative Liability, Fair Value, Gross Liability 3,505   $ 4,442
Terminated or dedesignated hedges [Member] | Interest Income [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net $ 4 $ 18  
v3.8.0.1
Derivative Financial Instruments Hedged Items in Fair Value Hedging Relationships (Details) - Fair Value Hedging [Member]
 3 Months Ended
Mar. 31, 2018
USD ($)
Long-term Debt [Member]  
Hedged Items in Fair Value Hedging Relationships [Line Items]  
Carrying Amount of Assets $ 5,658,000,000
Long-term Debt [Member] | Designated as Hedging Instrument [Member]  
Hedged Items in Fair Value Hedging Relationships [Line Items]  
Hedged Asset, Cumulative Basis Adjustment (148,000,000)
Long-term Debt [Member] | Not Designated as Hedging Instrument [Member]  
Hedged Items in Fair Value Hedging Relationships [Line Items]  
Hedged Asset, Cumulative Basis Adjustment (41,000,000)
Brokered Time Deposits [Member]  
Hedged Items in Fair Value Hedging Relationships [Line Items]  
Carrying Amount of Assets 29,000,000
Brokered Time Deposits [Member] | Designated as Hedging Instrument [Member]  
Hedged Items in Fair Value Hedging Relationships [Line Items]  
Hedged Asset, Cumulative Basis Adjustment 0
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
v3.8.0.1
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
Mar. 31, 2018
Mar. 31, 2017
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items]    
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ (36) $ 25
Interest Rate Contract [Member] | Mortgage Servicing 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 (93) (18)
Interest Rate Contract [Member] | Mortgage Production 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 46 (15)
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 2 0
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 9 11
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 (2) (6)
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 (1)
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 6 5
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 1 0
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 0 1
Other Contract [Member] | Mortgage Production 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 $ (6) $ 48
v3.8.0.1
Fair Value Measurement and Election - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Transfer of Portfolio Loans and Leases to Held-for-sale $ 204 $ 60  
Loans Receivable, Fair Value Disclosure 188   $ 196
Unfunded loan commitments and letters of credit 68,300   66,400
Allowance for unfunded loan commitments and letters of credit 73   84
Total Return Swap [Member] | Fair Value, Inputs, Level 2 [Member]      
Loans Receivable, Fair Value Disclosure 1,700   1,700
Interest Rate Lock Commitments [Member]      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 (6) $ 36  
Trading Account Assets [Member] | SBA Loans [Member] | Fair Value, Inputs, Level 2 [Member]      
Loans Receivable, Fair Value Disclosure 448   368
Trading Account Assets [Member] | Commercial and Corporate Leveraged Loans [Member] | Fair Value, Inputs, Level 2 [Member]      
Loans Receivable, Fair Value Disclosure 74   48
Fair Value, Measurements, Recurring [Member]      
Loans Receivable, Fair Value Disclosure 188   196
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]      
Loans Receivable, Fair Value Disclosure 0   0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]      
Loans Receivable, Fair Value Disclosure 0   0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]      
Loans Receivable, Fair Value Disclosure $ 188   $ 196
v3.8.0.1
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities [1] $ 5,112 $ 5,093
Available-for-sale Securities [2],[3] 30,934 30,947 [4]
Loans Held-for-sale, Fair Value Disclosure 1,428 1,577
Loans Receivable, Fair Value Disclosure 188 196
Other Assets, Fair Value Disclosure   56
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 485 608
Available-for-sale Securities 4,340 4,331
Loans Held-for-sale, Fair Value Disclosure 0 0
Other Assets, Fair Value Disclosure 143 56
Trading Liabilities, Fair Value Disclosure 841 769
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]    
Trading Securities 4,610 4,469
Available-for-sale Securities 26,594 26,544
Loans Held-for-sale, Fair Value Disclosure 2,348 2,239
Other Assets, Fair Value Disclosure 0 0
Trading Liabilities, Fair Value Disclosure 880 498
Long-term Debt, Fair Value 9,631 8,834
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 17 16
Available-for-sale Securities 0 72
Loans Held-for-sale, Fair Value Disclosure 41 54
Other Assets, Fair Value Disclosure 418 418
Trading Liabilities, Fair Value Disclosure 16 16
Long-term Debt, Fair Value 1,112 1,058
Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 5,112 5,093
Available-for-sale Securities 30,934 [5] 30,947 [6]
Loans Held-for-sale, Fair Value Disclosure 1,428 1,577
Loans Receivable, Fair Value Disclosure 188 196
Servicing Asset at Fair Value, Amount 1,916 1,710
Other Assets, Fair Value Disclosure 143 [5] 56 [6]
Trading Liabilities, Fair Value Disclosure 1,737 1,283
Long-term Debt, Fair Value 209 530
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 485 608
Available-for-sale Securities 4,340 [5] 4,331 [6]
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 143 [5] 56 [6]
Trading Liabilities, Fair Value Disclosure 841 769
Deposits, Fair Value Disclosure 0 0
Long-term Debt, Fair Value 0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 7,027 7,571
Available-for-sale Securities 26,594 [5] 26,544 [6]
Loans Held-for-sale, Fair Value Disclosure 1,428 1,577
Loans Receivable, Fair Value Disclosure 0 0
Servicing Asset at Fair Value, Amount 0 0
Other Assets, Fair Value Disclosure 0 [5] 0 [6]
Trading Liabilities, Fair Value Disclosure 3,805 4,532
Deposits, Fair Value Disclosure 302 236
Long-term Debt, Fair Value 209 530
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 17 16
Available-for-sale Securities 0 [5] 72 [6]
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans Receivable, Fair Value Disclosure 188 196
Servicing Asset at Fair Value, Amount 1,916 1,710
Other Assets, Fair Value Disclosure 0 [5] 0 [6]
Trading Liabilities, Fair Value Disclosure 16 16
Deposits, Fair Value Disclosure 0 0
Long-term Debt, Fair Value 0 0
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 182 157
Available-for-sale Securities 4,340 4,331
Trading Liabilities, Fair Value Disclosure 698 577
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 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, Measurements, 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, Measurements, 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 1  
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, 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, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 0
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 238 395
Available-for-sale Securities 249 259
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 123 61
Available-for-sale Securities 636 617
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 0
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 804 655
Available-for-sale Securities 16 12
Trading Liabilities, Fair Value Disclosure 453 289
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Available-for-sale Securities 0 5
Trading Liabilities, Fair Value Disclosure 0 0
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 169 118
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 51 56
Trading Liabilities, Fair Value Disclosure 5 9
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Trading Liabilities, Fair Value Disclosure 0 0
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 657 802
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 252 395
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 2,805 3,493
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 17 16
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 2,189 2,149
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Asset-backed Securities [Member] | Fair Value, Measurements, 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
Asset-backed Securities [Member] | Fair Value, Measurements, 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 7 0
Asset-backed Securities [Member] | Fair Value, Measurements, 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 8
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure 580 408
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, 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 138 183
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, 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 3,351 4,243
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, 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 16 16
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deposits, Fair Value Disclosure 302 236
Estimate of Fair Value Measurement [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 5,112 5,093
Available-for-sale Securities 30,934 30,947
Loans Held-for-sale, Fair Value Disclosure 2,389 2,293
Other Assets, Fair Value Disclosure 561 474
Trading Liabilities, Fair Value Disclosure 1,737 1,283
Long-term Debt, Fair Value 10,743 9,892
Estimate of Fair Value Measurement [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 182 157
Available-for-sale Securities 4,340 4,331
Trading Liabilities, Fair Value Disclosure 698 577
Estimate of Fair Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure 1  
Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 238 395
Available-for-sale Securities 249 259
Estimate of Fair Value Measurement [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 123 61
Available-for-sale Securities 636 617
Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 804 655
Available-for-sale Securities 16 17
Trading Liabilities, Fair Value Disclosure 453 289
Estimate of Fair Value Measurement [Member] | Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 169 118
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 51 56
Trading Liabilities, Fair Value Disclosure 5 9
Estimate of Fair Value Measurement [Member] | Trading Loans [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 2,189 2,149
Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 7 8
Reported Value Measurement [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 5,112 5,093
Available-for-sale Securities 30,934 30,947
Loans Held-for-sale, Fair Value Disclosure 2,377 2,290
Other Assets, Fair Value Disclosure 561 474
Trading Liabilities, Fair Value Disclosure 1,737 1,283
Long-term Debt, Fair Value 10,692 9,785
Netting [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities (2,417) [7] (3,102) [8]
Trading Liabilities, Fair Value Disclosure (2,925) [7] (4,034) [8]
Netting [Member] | Derivative Financial Instruments, Assets [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities (2,417) [7] (3,102) [8]
Netting [Member] | Derivative Financial Instruments, Liabilities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Liabilities, Fair Value Disclosure (2,925) [7] (4,034) [8]
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 699 700
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 699 700
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 0 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 22,513 22,704
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, 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 US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, 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 22,513 22,704
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, 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
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 2,242 2,086
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, 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 US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, 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 2,242 2,086
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, 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
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading Securities 699 700
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 22,513 22,704
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 2,242 2,086
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 57 59
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, 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] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, 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 57 0
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, 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 59
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 874 866
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, 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, Measurements, 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 874 866
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, 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
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 57 59
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities $ 874 $ 866
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,248 million and $1,086 million at March 31, 2018 and December 31, 2017, respectively.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[3] Text selection found with no content.
[4] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[5] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[6] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[7] Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15, "Derivative Financial Instruments," for additional information.
[8] Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15, "Derivative Financial Instruments," for additional information.
v3.8.0.1
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Loans Receivable, Fair Value Disclosure $ 188 $ 196
Trading Loans [Member]    
Loans Receivable, Fair Value Disclosure 2,189 2,149
Aggregate Unpaid Principal Balance Under the Fair Value Option (2,142) (2,111)
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables 47 38
Loans Held-For-Sale [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Loans Receivable, Fair Value Disclosure   1
Aggregate Unpaid Principal Balance Under the Fair Value Option   (1)
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables   0
Loans Held-For-Sale [Member] | Performing Financial Instruments [Member]    
Loans Receivable, Fair Value Disclosure 1,428 1,576
Aggregate Unpaid Principal Balance Under the Fair Value Option (1,397) (1,533)
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables 31 43
Loans Held-For-Investment [Member] | Performing Financial Instruments [Member]    
Loans Receivable, Fair Value Disclosure 183 192
Aggregate Unpaid Principal Balance Under the Fair Value Option (190) (198)
Fair Value, Option, Loans Held as Assets, Aggregate Difference (7) (6)
Loans Held-For-Investment [Member] | Nonperforming Financing Receivable [Member]    
Loans Receivable, Fair Value Disclosure 5 4
Aggregate Unpaid Principal Balance Under the Fair Value Option (7) (6)
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status, Aggregated Difference (2) (2)
Brokered Time Deposits [Member]    
Obligations, Fair Value Disclosure 302 236
Aggregate Unpaid Principal Balance Under the Fair Value Option (304) (233)
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments (2) 3
Long-term Debt [Member]    
Obligations, Fair Value Disclosure 209 530
Aggregate Unpaid Principal Balance Under the Fair Value Option (203) (517)
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments $ 6 $ 13
v3.8.0.1
Change in Fair Value of Financial Instruments for which the FVO has been Elected (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Trading Loans [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) $ 2 [1] $ 2 [2]
Trading Loans [Member] | Trading Revenue [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 2 2
Trading Loans [Member] | Mortgage Production Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [3] 0 [4]
Trading Loans [Member] | Mortgage Servicing Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Trading Loans [Member] | Other Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Loans Held-For-Sale [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) (13) [1] 12 [2]
Loans Held-For-Sale [Member] | Trading Revenue [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Loans Held-For-Sale [Member] | Mortgage Production Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) (13) [3] 12 [4]
Loans Held-For-Sale [Member] | Mortgage Servicing Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Loans Held-For-Sale [Member] | Other Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Loans Held-For-Investment [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) [1] (2)  
Loans Held-For-Investment [Member] | Trading Revenue [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0  
Loans Held-For-Investment [Member] | Mortgage Production Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) [3] 0  
Loans Held-For-Investment [Member] | Mortgage Servicing Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0  
Loans Held-For-Investment [Member] | Other Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) (2)  
Mortgage Servicing Rights [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 59 [1] (23) [2]
Mortgage Servicing Rights [Member] | Trading Revenue [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Mortgage Servicing Rights [Member] | Mortgage Production Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 3 [3] 1 [4]
Mortgage Servicing Rights [Member] | Mortgage Servicing Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 56 (24)
Mortgage Servicing Rights [Member] | Other Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Brokered Time Deposits [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 7 [1] 1 [2]
Brokered Time Deposits [Member] | Trading Revenue [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 7 1
Brokered Time Deposits [Member] | Mortgage Production Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [3] 0 [4]
Brokered Time Deposits [Member] | Mortgage Servicing Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Brokered Time Deposits [Member] | Other Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Long-term Debt [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 3 [1] 6 [2]
Long-term Debt [Member] | Trading Revenue [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 3 6
Long-term Debt [Member] | Mortgage Production Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 [3] 0 [4]
Long-term Debt [Member] | Mortgage Servicing Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) 0 0
Long-term Debt [Member] | Other Income [Member]    
Fair Value, Option, Changes in Fair Value, Gain (Loss) $ 0 $ 0
[1] Changes in fair value for the three months ended March 31, 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.
[2] Changes in fair value for the three months ended March 31, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, 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] Income related to LHFS does not include income from IRLCs. For the three months ended March 31, 2018, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
[4] Income related to LHFS does not include income from IRLCs. For the three months ended March 31, 2017, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM.
v3.8.0.1
Fair Value Election and Measurement Level 3 Significant Unobservable Input Assumptions (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2017
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities [1],[2] $ 30,934 $ 30,947 [3]
Loans Receivable, Fair Value Disclosure 188 196
Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities 0 72
Fair Value, Measurements, Recurring [Member]    
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities 30,934 [4] 30,947 [5]
Loans Receivable, Fair Value Disclosure 188 196
Servicing Asset at Fair Value, Amount 1,916 1,710
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities 0 [4] 72 [5]
Loans Receivable, Fair Value Disclosure 188 196
Servicing Asset at Fair Value, Amount 1,916 1,710
Fair Value, Measurements, Recurring [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Derivative, Fair Value, Net 1 [6] 0 [7]
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities   8
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | Cost Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities   5
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Available-for-sale Securities   59
Fair Value, Measurements, Recurring [Member] | Loans Held-For-Investment [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure 5 4
Fair Value, Measurements, Recurring [Member] | Loans Held-For-Investment [Member] | Income Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Loans Receivable, Fair Value Disclosure $ 183 $ 192
Fair Value, Measurements, Recurring [Member] | Loans Held-For-Investment [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Option Adjusted Spread (0.62%) (0.62%)
Fair Value Inputs, Prepayment Rate 7.00% 2.00%
Fair Value Inputs, Probability of Default 0.00% 0.00%
Fair Value, Measurements, Recurring [Member] | Loans Held-For-Investment [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Option Adjusted Spread (7.84%) (7.84%)
Fair Value Inputs, Prepayment Rate 24.00% 34.00%
Fair Value Inputs, Probability of Default 2.00% 5.00%
Fair Value, Measurements, Recurring [Member] | Loans Held-For-Investment [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Option Adjusted Spread (1.81%) (2.15%)
Fair Value Inputs, Prepayment Rate 13.00% 11.00%
Fair Value Inputs, Probability of Default 0.70% 0.67%
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Servicing Asset at Fair Value, Amount $ 1,916 $ 1,710
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Option Adjusted Spread (0.00%) 1.00%
Fair Value Inputs, Prepayment Rate 6.00% 6.00%
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Option Adjusted Spread (116.00%) (125.00%)
Fair Value Inputs, Prepayment Rate 33.00% 30.00%
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Option Adjusted Spread (4.00%) (4.00%)
Fair Value Inputs, Prepayment Rate 13.00% 13.00%
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Pull Through Rate 36.00% 41.00%
Fair Value Inputs, Msr Value 0.41% 0.41%
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Pull Through Rate 100.00% 100.00%
Fair Value Inputs, Msr Value 1.90% 1.90%
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]    
level 3 fair value assumptions [Line Items]    
Fair Value Inputs, Pull Through Rate 79.00% 81.00%
Fair Value Inputs, Msr Value 1.20% 1.13%
[1] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[2] Text selection found with no content.
[3] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[4] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[5] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
[6] Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company's sale of Visa shares. Refer to the "Trading Liabilities and Derivative Instruments" section herein for a discussion of valuation assumptions related to the Visa derivative liability.
[7] Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company's sale of Visa shares. Refer to the "Trading Liabilities and Derivative Instruments" section herein for a discussion of valuation assumptions related to the Visa derivative liability.
v3.8.0.1
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Derivative contracts, net [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value $ 1 $ 17 $ 0 $ 6
Included in earnings (6) [1] 48 [2]    
OCI 0 0    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0    
Sales 0 0    
Settlements 1 (1)    
Transfers to other balance sheet line items 6 (36)    
Transfers into Level 3 0 0    
Transferred Out of Level 3 in The Fair Value Hierarchy 0 0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income 16 [1],[3] 30 [2],[4]    
US States and Political Subdivisions Debt Securities [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value   4   4
Included in earnings   0    
OCI   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   0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income   0    
Mortgage-backed Securities, Issued by Private Enterprises [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0 71 59 74
Included in earnings 0 0    
OCI 0 1 [5]    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0    
Sales 0 0    
Settlements 2 2    
Transfers to other balance sheet line items 0 0    
Transfers into Level 3 0 0    
Transferred Out of Level 3 in The Fair Value Hierarchy (57) 0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income 0 0    
Asset-backed Securities [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0 9 8 10
Included in earnings 0 0    
OCI 0 0    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0    
Sales 0 0    
Settlements 1 1    
Transfers to other balance sheet line items 0 0    
Transfers into Level 3 0 0    
Transferred Out of Level 3 in The Fair Value Hierarchy (7) 0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income 0 0    
Corporate Debt Securities [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0 5 5 5
Included in earnings 0 0    
OCI 0 0    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0    
Sales 0 0    
Settlements 0 0    
Transfers to other balance sheet line items 0 0    
Transfers into Level 3 0 0    
Transferred Out of Level 3 in The Fair Value Hierarchy (5) 0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income 0 0    
Available-for-sale Securities [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0 89 72 93
Included in earnings 0 0    
OCI 0 1 [5]    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0    
Sales 0 0    
Settlements 3 3    
Transfers to other balance sheet line items 0 0    
Transfers into Level 3 0 0    
Transferred Out of Level 3 in The Fair Value Hierarchy (69) 0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income 0 0    
Residential Mortgage, Loans Held For Sale [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value   6   12
Included in earnings   0    
OCI   0    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases   0    
Sales   (14)    
Settlements   0    
Transfers to other balance sheet line items   (2)    
Transfers into Level 3   10    
Transferred Out of Level 3 in The Fair Value Hierarchy   0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income [4]   0    
Loans Held-For-Investment [Member]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 188 221 $ 196 $ 222
Included in earnings (2) [6] 0    
OCI 0 0    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 0    
Sales 0 0    
Settlements 7 6    
Transfers to other balance sheet line items 0 (1)    
Transfers into Level 3 1 4    
Transferred Out of Level 3 in The Fair Value Hierarchy 0 0    
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income $ (3) [3],[6] $ 0 [4]    
[1] Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production 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.
[2] Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production related income and amount related to Visa derivative liability is recognized in Other noninterest expense.
[3] Change in unrealized gains/(losses) included in earnings during the period related to financial assets still held at March 31, 2018.
[4] Change in unrealized gains included in earnings during the period related to financial assets still held at March 31, 2017.
[5] Amounts recognized in OCI are included in change in net unrealized losses on securities AFS, net of tax.
[6] Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income.
v3.8.0.1
Carrying Value of Those Assets Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Other Comprehensive Income (Loss), Unrealized Credit Risk Gain (Loss) on Long-term Debt Arising During Period, Net of Tax $ 2 $ (1)  
Transfer of Portfolio Loans and Leases to Held-for-sale 204 60  
Allowance for Loan and Lease Losses, Write-offs 106 $ 146  
Loans Held-For-Sale [Member] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Assets, Fair Value Disclosure 13   $ 13
Asset Impairment Charges 0   0
Loans Held-For-Sale [Member] | Fair Value, Measurements, 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
Loans Held-For-Sale [Member] | Fair Value, Measurements, 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 13   13
Loans Held-For-Sale [Member] | Fair Value, Measurements, 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
Loans Held-For-Investment [Member] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Assets, Fair Value Disclosure 48   49
Asset Impairment Charges 0   0
Loans Held-For-Investment [Member] | Fair Value, Measurements, 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
Loans Held-For-Investment [Member] | Fair Value, Measurements, 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
Loans Held-For-Investment [Member] | Fair Value, Measurements, 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 48   49
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Assets, Fair Value Disclosure 23   24
Asset Impairment Charges (2)   (4)
Other Real Estate Owned [Member] | Fair Value, Measurements, 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
Other Real Estate Owned [Member] | Fair Value, Measurements, 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   1
Other Real Estate Owned [Member] | Fair Value, Measurements, 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 23   23
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Assets, Fair Value Disclosure 41   53
Asset Impairment Charges     (43)
Assets, Fair Value Adjustment 15    
Other Assets [Member] | Fair Value, Measurements, 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
Other Assets [Member] | Fair Value, Measurements, 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 31   4
Other Assets [Member] | Fair Value, Measurements, 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 10   49
Other Assets [Member] | Software and Software Development Costs [Member] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Asset Impairment Charges (8)   (28)
Other Assets [Member] | Security Owned Not Readily Marketable, Name [Domain]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Asset Impairment Charges 0    
Assets, Fair Value Adjustment 23    
Other Assets [Member] | Security Owned Not Readily Marketable, Name [Domain] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Assets, Fair Value Adjustment 23    
Other Assets [Member] | Building [Member] | Fair Value, Measurements, Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Asset Impairment Charges $ 0   $ (10)
v3.8.0.1
Carrying Amounts and Fair Values of the Company's Financial Instruments (Detail) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Financial assets    
Trading Securities [1] $ 5,112 $ 5,093
Available-for-sale Securities [2],[3] 30,934 30,947 [4]
Loans Held-for-sale, Fair Value Disclosure 1,428 1,577
Other Assets, Fair Value Disclosure   56
Fair Value, Inputs, Level 1 [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 7,304 6,912
Trading Securities 485 608
Available-for-sale Securities 4,340 4,331
Loans Held-for-sale, Fair Value Disclosure 0 0
Loans Net Fair Value Disclosure 0 0
Other Assets, Fair Value Disclosure 143 56
Financial liabilities    
Consumer And Commercial Deposits, Fair Value Disclosure 0 0
Short-term Debt, Fair Value 0 0
Long-term Debt, Fair Value 0 0
Trading liabilities 841 769
Fair Value, Inputs, Level 2 [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 0 0
Trading Securities 4,610 4,469
Available-for-sale Securities 26,594 26,544
Loans Held-for-sale, Fair Value Disclosure 2,348 2,239
Loans Net Fair Value Disclosure 0 0
Other Assets, Fair Value Disclosure 0 0
Financial liabilities    
Consumer And Commercial Deposits, Fair Value Disclosure 13,478 11,906
Short-term Debt, Fair Value 3,572 4,781
Long-term Debt, Fair Value 9,631 8,834
Trading liabilities 880 498
Fair Value, Inputs, Level 3 [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 0 0
Trading Securities 17 16
Available-for-sale Securities 0 72
Loans Held-for-sale, Fair Value Disclosure 41 54
Loans Net Fair Value Disclosure 141,174 141,575
Other Assets, Fair Value Disclosure 418 418
Financial liabilities    
Consumer And Commercial Deposits, Fair Value Disclosure 0 0
Short-term Debt, Fair Value 0 0
Long-term Debt, Fair Value 1,112 1,058
Trading liabilities 16 16
Reported Value Measurement [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 7,304 6,912
Trading Securities 5,112 5,093
Available-for-sale Securities 30,934 30,947
Loans Held-for-sale, Fair Value Disclosure 2,377 2,290
Loans Net Fair Value Disclosure 140,924 141,446
Other Assets, Fair Value Disclosure 561 474
Financial liabilities    
Consumer And Commercial Deposits, Fair Value Disclosure 13,715 12,076
Short-term Debt, Fair Value 3,572 4,781
Long-term Debt, Fair Value 10,692 9,785
Trading liabilities 1,737 1,283
Estimate of Fair Value, Fair Value Disclosure [Member]    
Financial assets    
Cash and Cash Equivalents, Fair Value Disclosure 7,304 6,912
Trading Securities 5,112 5,093
Available-for-sale Securities 30,934 30,947
Loans Held-for-sale, Fair Value Disclosure 2,389 2,293
Loans Net Fair Value Disclosure 141,174 141,575
Other Assets, Fair Value Disclosure 561 474
Financial liabilities    
Consumer And Commercial Deposits, Fair Value Disclosure 13,478 11,906
Short-term Debt, Fair Value 3,572 4,781
Long-term Debt, Fair Value 10,743 9,892
Trading liabilities $ 1,737 $ 1,283
[1] Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,248 million and $1,086 million at March 31, 2018 and December 31, 2017, respectively.
[2] Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $214 million and $223 million at March 31, 2018 and December 31, 2017, respectively.
[3] Text selection found with no content.
[4] Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information.
v3.8.0.1
Contingencies - Additional Information (Detail)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
Document Period End Date Mar. 31, 2018
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
ERISA Class Action [Member]  
Loss Contingency, Damages Awarded, Value 5
Cash payment for litigation [Member] | Potential Mortgage Servicing Settlement and Claims [Member]  
Loss Contingency, Damages Awarded, Value 50
Consumer relief obligation [Member] | Potential Mortgage Servicing Settlement and Claims [Member]  
Loss Contingency, Damages Awarded, Value $ 500
v3.8.0.1
Business Segment Reporting (Detail)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
segments
Mar. 31, 2017
USD ($)
 [1],[2]
Number of Operating Segments | segments 2  
Average Total Loans Held for Investment $ 142,920 $ 143,670
Average Total Deposits 159,169 158,874
Average Total Assets 204,132 204,252
Average Total Liabilities 179,527 180,581
Average Total Equity 24,605 23,671
Interest Income (Expense), Net 1,441 1,366
Fully Taxable Equivalent Adjustment 20 34
Net Interest Income Including Fully Taxable Equivalent Adjustment 1,461 [3] 1,400 [4]
Provision for Loan, Lease, and Other Losses 28 [5] 119 [6]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment 1,433 1,281
Noninterest Income 796 [7] 847 [8]
Noninterest Expense 1,417 1,465
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 812 663
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 167 [9] 193
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 645 470
Net Income (Loss) Attributable to Noncontrolling Interest 2 2
Net Income (Loss) Attributable to Parent 643 468
Consumer [Member]    
Average Total Loans Held for Investment 74,093 71,147
Average Total Deposits 103,099 101,941
Average Total Assets 83,716 81,265
Average Total Liabilities 103,925 102,896
Average Total Equity 0 0
Interest Income (Expense), Net 961 894
Fully Taxable Equivalent Adjustment 0 0
Net Interest Income Including Fully Taxable Equivalent Adjustment 961 [3] 894 [4]
Provision for Loan, Lease, and Other Losses 60 [5] 88 [6]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment 901 806
Noninterest Income 443 464
Noninterest Expense 966 992
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 378 278
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 83 [9] 100
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 295 178
Net Income (Loss) Attributable to Noncontrolling Interest 0 0
Net Income (Loss) Attributable to Parent 295 178
Wholesale [Member]    
Average Total Loans Held for Investment 68,741 71,237
Average Total Deposits 56,050 56,866
Average Total Assets 82,472 84,632
Average Total Liabilities 61,902 62,512
Average Total Equity 0 0
Interest Income (Expense), Net 563 527
Fully Taxable Equivalent Adjustment 20 34
Net Interest Income Including Fully Taxable Equivalent Adjustment 583 [3] 561 [4]
Provision for Loan, Lease, and Other Losses (32) [5] 32 [6]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment 615 529
Noninterest Income 371 401
Noninterest Expense 477 479
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 509 451
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 119 [9] 168
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 390 283
Net Income (Loss) Attributable to Noncontrolling Interest 0 0
Net Income (Loss) Attributable to Parent 390 283
Corporate Other [Member]    
Average Total Loans Held for Investment 90 1,286
Average Total Deposits 204 117
Average Total Assets 35,489 35,241
Average Total Liabilities 13,877 15,196
Average Total Equity 0 0
Interest Income (Expense), Net (28) 26
Fully Taxable Equivalent Adjustment 1 1
Net Interest Income Including Fully Taxable Equivalent Adjustment (27) [3] 27 [4]
Provision for Loan, Lease, and Other Losses 0 [5] 0 [6]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment (27) 27
Noninterest Income 14 24
Noninterest Expense (21) (2)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 8 53
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal 9 [9] (6)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (1) 59
Net Income (Loss) Attributable to Noncontrolling Interest 2 2
Net Income (Loss) Attributable to Parent (3) 57
Reconciling Items    
Average Total Loans Held for Investment (4) 0
Average Total Deposits (184) (50)
Average Total Assets 2,455 3,114
Average Total Liabilities (177) (23)
Average Total Equity 24,605 23,671
Interest Income (Expense), Net (55) (81)
Fully Taxable Equivalent Adjustment (1) (1)
Net Interest Income Including Fully Taxable Equivalent Adjustment (56) [3] (82) [4]
Provision for Loan, Lease, and Other Losses 0 [5] (1) [6]
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment (56) (81)
Noninterest Income (32) (42)
Noninterest Expense (5) (4)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (83) (119)
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal (44) [9] (69)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (39) (50)
Net Income (Loss) Attributable to Noncontrolling Interest 0 0
Net Income (Loss) Attributable to Parent $ (39) $ (50)
[1] Beginning in the second quarter of 2017, the Company realigned its business segment structure from three segments to two segments. Specifically, the Company retained the previous composition of the Wholesale Banking segment and changed the basis of presentation of the Consumer Banking and Private Wealth Management segment and Mortgage Banking segment such that those segments were combined into a single Consumer segment. Accordingly, business segment information presented for the three months ended March 31, 2017 has been revised to conform to the new business segment structure and updated internal funds transfer pricing methodology for consistent presentation.
[2] During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC.
[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/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) 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] Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers.
[8] Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers.
[9] Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals.
v3.8.0.1
Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax $ (396) $ (60) $ (1) $ (62)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax (424) (199) (244) (157)
Accumulated Other Comprehensive Income (Loss), Brokered Time Deposits, net of tax 0 (1) (1) (1)
Accumulated Other Comprehensive Income (Loss), Long-term Debt, Net of Tax (3) (8) (4) (7)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax (699) (599) (570) (594)
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,522) (867) $ (820) $ (821)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [1] (10)      
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax (424) 2    
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax (125) (16)    
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Brokered Time Deposits Arising During Period, Net of Tax 1 0    
Other Comprehensive Income (Loss), Unrealized Credit Risk Gain (Loss) on Long-term Debt Arising During Period, Net of Tax 2 (1)    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax (5) (9)    
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (551) (24)    
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax (1) 0    
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax 1 (26)    
Other Comprehensive Income (Loss), Reclassification from AOCI on Brokered Time Deposits, Net of Tax 0 0    
Other Comprehensive Income Loss Reclassfication Adjustment From AOCI on Long Term Debt, Net of Tax 0 0    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax 3 4    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 3 (22)    
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax (425) 2    
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax (124) (42)    
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax 1 0    
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax (2) 1    
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax 2 5    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (548) $ (46)    
AOCI Attributable to Parent [Member]        
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [1],[2] (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 [2] 30      
Derivative [Member] | AOCI Attributable to Parent [Member]        
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [2] (56)      
Brokered Time Deposits [Member] | AOCI Attributable to Parent [Member]        
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [2] 0      
Long-term Debt [Member] | AOCI Attributable to Parent [Member]        
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [2] (1)      
Defined Benefit Plan [Member] | AOCI Attributable to Parent [Member]        
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income [2] $ (127)      
[1] 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," for additional information.
[2] Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information.
v3.8.0.1
Accumulated Other Comprehensive Income Reclassifications out of AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax $ 1 $ 0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax 0 0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax 1 0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax (1) 41
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax 0 15
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax (1) 26
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax (2) (1)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Actuarial Gain (Loss), Before Tax (6) (6)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax 4 5
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax 1 1
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax 3 4
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax $ 3 $ (22)