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Available-for-Sale and Held-to-Maturity Securities (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Investments Securities
The amortized cost and fair value of available-for-sale and held-to-maturity securities at December 31, 2015 and 2014 are shown in the following tables (dollars in millions): 
 
Amortized
Cost
 
Gross
Unrealized /
Unrecognized
Gains
 
Gross
Unrealized /
Unrecognized
Losses
 
Fair Value
December 31, 2015:
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities and CMOs
$
11,888

 
$
41

 
$
(166
)
 
$
11,763

Agency debentures
551

 
18

 
(12
)
 
557

U.S. Treasuries
147

 
—

 
(4
)
 
143

Agency debt securities
55

 
—

 
—

 
55

Municipal bonds
35

 
—

 
—

 
35

Corporate bonds
5

 
—

 
(1
)
 
4

Total debt securities
12,681

 
59

 
(183
)
 
12,557

Publicly traded equity securities(1)
33

 
—

 
(1
)
 
32

Total available-for-sale securities
$
12,714

 
$
59

 
$
(184
)
 
$
12,589

Held-to-maturity securities:
 
 
 
 
 
 
 
Agency residential mortgage-backed securities and CMOs
$
10,353

 
$
149

 
$
(58
)
 
$
10,444

Agency debentures
127

 
—

 
(2
)
 
125

Agency debt securities
2,523

 
34

 
(13
)
 
2,544

Other non-agency debt securities
10

 
—

 
—

 
10

Total held-to-maturity securities
$
13,013

 
$
183

 
$
(73
)
 
$
13,123

 
 
 
 
 
 
 
 
December 31, 2014:

 
 
 
 
 

Available-for-sale securities:
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
Agency mortgage-backed securities and CMOs
$
11,156

 
$
113

 
$
(105
)
 
$
11,164

Agency debentures
620

 
28

 
—

 
648

Agency debt securities
487

 
12

 
—

 
499

Municipal bonds
40

 
1

 
(1
)
 
40

Corporate bonds
5

 
—

 
(1
)
 
4

Total debt securities
12,308

 
154

 
(107
)
 
12,355

Publicly traded equity securities(1)
33

 
—

 
—

 
33

Total available-for-sale securities
$
12,341

 
$
154

 
$
(107
)
 
$
12,388

Held-to-maturity securities:
 
 
 
 
 
 
 
Agency residential mortgage-backed securities and CMOs
$
9,793

 
$
217

 
$
(39
)
 
$
9,971

Agency debentures
164

 
2

 
—

 
166

Agency debt securities
2,281

 
54

 
(6
)
 
2,329

Other non-agency debt securities
10

 
—

 
—

 
10

Total held-to-maturity securities
$
12,248

 
$
273

 
$
(45
)
 
$
12,476


(1)
Publicly traded equity securities consisted of investments in a mutual fund related to the Community Reinvestment Act.
Investments Classified by Contractual Maturity Date
The contractual maturities of all available-for-sale and held-to-maturity debt securities at December 31, 2015 are shown below (dollars in millions): 
 
Amortized Cost
 
Fair Value
Available-for-sale debt securities:
 
 
 
Due within one year
$
—

 
$
—

Due within one to five years
41

 
41

Due within five to ten years
2,408

 
2,362

Due after ten years
10,232

 
10,154

Total available-for-sale debt securities
$
12,681

 
$
12,557

Held-to-maturity debt securities:
 
 
 
Due within one year
$
43

 
$
43

Due within one to five years
1,166

 
1,203

Due within five to ten years
3,611

 
3,643

Due after ten years
8,193

 
8,234

Total held-to-maturity debt securities
$
13,013

 
$
13,123
Schedule of Unrealized Loss on Investments
The following tables show the fair value and unrealized or unrecognized losses on available-for-sale and held-to-maturity securities, aggregated by investment category, and the length of time that individual securities have been in a continuous unrealized or unrecognized loss position at December 31, 2015 and 2014 (dollars in millions):
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized /
Unrecognized
Losses
 
Fair Value
 
Unrealized /
Unrecognized
Losses
 
Fair Value
 
Unrealized /
Unrecognized
Losses
December 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities and CMOs
$
6,832

 
$
(88
)
 
$
2,496

 
$
(78
)
 
$
9,328

 
$
(166
)
Agency debentures
329

 
(12
)
 
9

 
—

 
338

 
(12
)
U.S. Treasuries
143

 
(4
)
 
—

 
—

 
143

 
(4
)
Agency debt securities
55

 
—

 
—

 
—

 
55

 
—

Municipal bonds
—

 
—

 
15

 
—

 
15

 
—

Corporate bonds
—

 
—

 
4

 
(1
)
 
4

 
(1
)
Publicly traded equity securities
32

 
(1
)
 
—

 
—

 
32

 
(1
)
Total temporarily impaired available-for-sale securities
$
7,391

 
$
(105
)
 
$
2,524

 
$
(79
)
 
$
9,915

 
$
(184
)
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities and CMOs
$
2,807

 
$
(25
)
 
$
1,495

 
$
(33
)
 
$
4,302

 
$
(58
)
Agency debentures
114

 
(2
)
 
—

 
—

 
114

 
(2
)
Agency debt securities
1,006

 
(10
)
 
134

 
(3
)
 
1,140

 
(13
)
Total temporarily impaired held-to-maturity securities
$
3,927

 
$
(37
)
 
$
1,629

 
$
(36
)
 
$
5,556

 
$
(73
)
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014:

 

 

 

 

 

Available-for-sale securities:
 
 
 
 
 
 
 
 


 


Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities and CMOs
$
403

 
$
(1
)
 
$
4,674

 
$
(104
)
 
$
5,077

 
$
(105
)
Agency debentures
—

 
—

 
9

 
—

 
9

 
—

Municipal bonds
3

 
—

 
16

 
(1
)
 
19

 
(1
)
Corporate bonds
—

 
—

 
5

 
(1
)
 
5

 
(1
)
Total temporarily impaired available-for-sale securities
$
406

 
$
(1
)
 
$
4,704

 
$
(106
)
 
$
5,110

 
$
(107
)
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed securities and CMOs
$
45

 
$
—

 
$
2,289

 
$
(39
)
 
$
2,334

 
$
(39
)
Agency debt securities
110

 
(1
)
 
560

 
(5
)
 
670

 
(6
)
Total temporarily impaired held-to-maturity securities
$
155

 
$
(1
)
 
$
2,849

 
$
(44
)
 
$
3,004

 
$
(45
)
Gains (Losses) on Loans and Investments
The detailed components of the gains (losses) on securities and other line item on the consolidated statement of income for the years ended December 31, 2015, 2014 and 2013 are as follows (dollars in millions):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Reclassification of deferred losses on cash flow hedges
$
(370
)
 
$
—

 
$
—

Hedge ineffectiveness
(1
)
 
(10
)
 
1

Gains on available-for-sale securities, net:
 
 
 
 
 
Gains on available-for-sale securities
58

 
$
42

 
$
69

Losses on available-for-sale securities
(20
)
 
—

 
(8
)
Subtotal
38

 
42

 
61

Gains (losses) on loans, net
2

 
4

 
(1
)
Gains (losses) on securities and other
$
(331
)
 
$
36

 
$
61