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Accounting for Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Fair Value Amounts of Derivatives Designated as Hedging Instruments
The following table summarizes the fair value amounts of derivatives designated as hedging instruments reported in the consolidated balance sheet at March 31, 2014 and December 31, 2013 (dollars in millions): 
 
 
 
Fair Value
 
Notional
 
Asset(1)
 
Liability(2)
 
Net(3)
March 31, 2014
 
 
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
Pay-fixed rate swaps
$
2,025

 
$
13

 
$
(139
)
 
$
(126
)
Purchased options
825

 
7

 
—

 
7

Total cash flow hedges
2,850

 
20

 
(139
)
 
(119
)
Fair value hedges:
 
 
 
 
 
 
 
Pay-fixed rate swaps
1,313

 
46

 
(5
)
 
41

Total derivatives designated as hedging instruments(4)
$
4,163

 
$
66

 
$
(144
)
 
$
(78
)
December 31, 2013
 
 
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
Pay-fixed rate swaps
$
2,480

 
$
19

 
$
(168
)
 
$
(149
)
Purchased options
825

 
8

 
—

 
8

Total cash flow hedges
3,305

 
27

 
(168
)
 
(141
)
Fair value hedges:
 
 
 
 
 
 
 
Pay-fixed rate swaps
1,614

 
80

 
(1
)
 
79

Total derivatives designated as hedging instruments(4)
$
4,919

 
$
107

 
$
(169
)
 
$
(62
)
 
(1)
Reflected in the other assets line item on the consolidated balance sheet.
(2)
Reflected in the other liabilities line item on the consolidated balance sheet.
(3)
Represents derivative assets net of derivative liabilities for disclosure purposes only.
(4)
All derivatives were designated as hedging instruments at March 31, 2014 and December 31, 2013.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the effect of interest rate contracts designated and qualifying as hedging instruments in cash flow hedges on accumulated other comprehensive loss and on the consolidated statement of income for the three months ended March 31, 2014 and 2013 (dollars in millions): 
 
 
Three Months Ended 
 March 31,
 
 
2014(1)
 
2013(1)
Gains (losses) on derivatives recognized in OCI (effective portion), net of tax
 
$
(16
)
 
$
6

Losses reclassified from AOCI into earnings (effective portion), net of tax
 
$
(21
)
 
$
(20
)

(1)
The Company had cash flow hedge ineffectiveness gains of less than $1 million at both the three months ended March 31, 2014 and 2013, which are reflected in the gains on loans and securities, net line item on the consolidated statement of income.
Cash Flow Hedging [Member]
  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table shows the balance in accumulated other comprehensive loss attributable to active and discontinued cash flow hedges at March 31, 2014 and December 31, 2013 (dollars in millions): 
 
March 31, 
 2014
 
December 31, 
 2013
Accumulated other comprehensive loss balance (net of tax) related to:
 
 
 
Discontinued cash flow hedges
$
(196
)
 
$
(201
)
Active cash flow hedges
(97
)
 
(97
)
Total cash flow hedges
$
(293
)
 
$
(298
)
The following table shows the balance in accumulated other comprehensive loss attributable to cash flow hedges by type of hedged item at March 31, 2014 and December 31, 2013 (dollars in millions): 
 
March 31, 
 2014
 
December 31, 
 2013
Repurchase agreements
$
(376
)
 
$
(379
)
FHLB advances
(94
)
 
(99
)
Total balance of cash flow hedges, before tax
(470
)
 
(478
)
Tax benefit
177

 
180

Total balance of cash flow hedges, net of tax
$
(293
)
 
$
(298
)
Fair Value Hedging [Member]
  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Effect of Derivatives designated as Fair Value Hedges and Related Hedged Items
The following table summarizes the effect of interest rate contracts designated and qualifying as hedging instruments in fair value hedges and related hedged items on the consolidated statement of income for the three months ended March 31, 2014 and 2013 (dollars in millions): 
 
Three Months Ended March 31,
 
2014
 
2013
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
Agency debentures
$
(31
)
 
$
27

 
$
(4
)
 
$
16

 
$
(16
)
 
$
—

Agency mortgage-backed securities
(11
)
 
11

 
—

 
—

 
—

 
—

Total gains (losses) included in earnings
$
(42
)
 
$
38

 
$
(4
)
 
$
16

 
$
(16
)
 
$
—

 
(1)
Reflected in the gains on loans and securities, net line item on the consolidated statement of income.