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Derivative Instruments and Other Financial Instruments Used For Hedging (Tables)
 6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts, Balance Sheet Location and Fair Value Amounts of Derivative Instruments
The table below presents the notional amounts and fair value amounts of the Company's derivative instruments reported on the consolidated balance sheets, segregated between derivative instruments designated and qualifying as hedging instruments and derivative instruments not designated as hedging instruments at June 30, 2019 and December 31, 2018. Asset and liability values are presented gross, excluding the impact of legally enforceable master netting and credit support annex agreements. The fair value of asset and liability derivatives designated and qualifying as hedging instruments and derivatives designated as other risk management are included in other assets and other liabilities, respectively. The fair value of asset and liability trading derivatives are included in trading account assets and trading account liabilities, respectively.
 
 
June 30, 2019
 
December 31, 2018
 
 
 
 
Fair Value
 
 
 
Fair Value
(Dollars in millions)
 
Notional Amount
 
Asset Derivatives
 
Liability Derivatives
 
Notional Amount
 
Asset Derivatives
 
Liability Derivatives
Derivative instruments
 
 
 
 
 
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
3,597

 
$
1

 
$
—

 
$
674

 
$
6

 
$
—

Not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Trading:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
312,281

 
999

 
515

 
189,478

 
531

 
600

Commodity contracts
 
189

 
16

 
13

 
336

 
25

 
18

Foreign exchange contracts
 
9,040

 
255

 
164

 
8,475

 
260

 
168

Equity contracts
 
114

 
12

 
12

 
300

 
22

 
13

Other contracts
 
64

 
—

 
—

 
127

 
—

 
—

Total Trading
 
321,688

 
1,282

 
704

 
198,716

 
838

 
799

Other risk management
 
2,649

 
14

 
9

 
1,704

 
27

 
5

Total derivative instruments
 
$
327,934

 
$
1,297

 
$
713

 
$
201,094

 
$
871

 
$
804
Amount and Location of Gains and Losses for Derivatives Designated as Cash Flow Hedges
The following table presents the amount and location of the net gains and losses recorded in the Company’s consolidated statements of income and changes in stockholders' equity for derivative instruments designated as cash flow hedges for the three and six months ended June 30, 2019 and 2018.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gains (Losses) Recognized in OCI
 
 
 
Gains (Losses) Reclassified from AOCI into Income
 
 
 
(Gains) Losses Recognized in Income
(Ineffective Portion)
 
 
For the Three Months Ended June 30,
 
 
 
For the Three Months Ended June 30,
 
 
 
For the Three Months Ended June 30,
(Dollars in millions)
 
2019
 
2018
 
Location
 
2019
 
2018
 
Location
 
2018
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 

 
Interest income
 
$
(21
)
 
$
(8
)
 
 
 
 

Interest rate contracts
 
$
55

 
$
(19
)
 
Interest expense
 
—

 
—

 
Noninterest expense
 
$
(1
)
Total
 
$
55

 
$
(19
)
 
 
 
$
(21
)
 
$
(8
)
 
 
 
$
(1
)
 
 
Gains (Losses) Recognized in OCI
 
 
 
Gains (Losses) Reclassified from AOCI into Income
 
 
 
Gains (Losses) Recognized in Income
(Ineffective
Portion)
 
 
For the Six Months Ended June 30,
 
 
 
For the Six Months Ended June 30,
 
 
 
For the Six Months Ended June 30,
(Dollars in millions)
 
2019
 
2018
 
Location
 
2019
 
2018
 
Location
 
2018
Derivatives in cash flow hedging relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 

 
Interest income
 
$
(40
)
 
$
(8
)
 
 
 
 

Interest rate contracts
 
$
69

 
$
(98
)
 
Interest expense
 
—

 
—

 
Noninterest expense
 
$
(1
)
Total
 
$
69

 
$
(98
)
 
 
 
$
(40
)
 
$
(8
)
 
 
 
$
(1
)
Schedule of derivative gains (losses) on the Company's fair value hedges
The following table presents gains (losses) on the Company's fair value hedges and hedged item for the three and six months ended June 30, 2018.
 
 
 
For the Three Months Ended June 30, 2018
 
For the Six Months Ended June 30, 2018
 
(Dollars in millions)
 
Derivative
 
Hedged Item
 
Hedge Ineffectiveness
 
Derivative
 
Hedged Item
 
Hedge Ineffectiveness
 
 
Interest rate risk on long-term debt
 
$
—

 
$
—

 
$
—

 
$
(2
)
 
$
2

 
$
—

 
Total
 
$
—

 
$
—

 
$
—

 
$
(2
)
 
$
2

 
$
—
Gain or (Loss) Recognized in Income on Derivative Instruments
The following table presents the amount of the net gains and losses for derivative instruments classified as trading reported in the consolidated statements of income under the heading trading account activities for the three and six months ended June 30, 2019 and 2018.
 
 
Gains (Losses) Recognized in
Income on Trading Derivatives
 
Gains (Losses) Recognized in
Income on Trading Derivatives
 
 
For the Three Months Ended
 
For the Six Months Ended
(Dollars in millions)
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Trading derivatives
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
(49
)
 
$
17

 
$
(84
)
 
$
130

Equity contracts
 
3

 
1

 
7

 
18

Foreign exchange contracts
 
13

 
12

 
24

 
21

Total
 
$
(33
)
 
$
30

 
$
(53
)
 
$
169