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Accounting for Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2015
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 December 31, 2015 and 2014 (dollars in millions): 
 
 
 
Fair Value
 
Notional
 
Asset(1)
 
Liability(2)
 
Net(3)
December 31, 2015
 
 
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
 
 
Cash flow hedges
$
—

 
$
—

 
$
—

 
$
—

Fair value hedges
2,204

 
10

 
(55
)
 
(45
)
Total derivatives designated as hedging instruments(4)
$
2,204

 
$
10

 
$
(55
)
 
$
(45
)
December 31, 2014
 
 
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
 
 
Cash flow hedges
$
2,000

 
$
23

 
$
(24
)
 
$
(1
)
Fair value hedges
1,069

 
1

 
(42
)
 
(41
)
Total derivatives designated as hedging instruments(4)
$
3,069

 
$
24

 
$
(66
)
 
$
(42
)
 
(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 December 31, 2015 and 2014.
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 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 years ended December 31, 2015, 2014 and 2013 (dollars in millions): 
 
 
For the Year Ended December 31,
 
 
2015
 
2014
 
2013
Gains (losses) on derivatives recognized in OCI (effective portion), net of tax
 
$
(10
)
 
$
(39
)
 
$
67

Losses reclassified from AOCI into earnings (effective portion), net of tax(1)
 
$
(271
)
 
$
(76
)
 
$
(87
)
Cash flow hedge ineffectiveness gains(2)
 
$
—

 
$
—

 
$
1


(1)
Includes the reclassification of losses deferred in accumulated other comprehensive loss into earnings related to cash flow hedges as a result of the termination of repurchase agreements and FHLB advances during the year ended December 31, 2015.
(2)
The ineffective portion of the change in fair value of the derivative instrument in a cash flow hedge, which is equal to the excess of the cumulative change in the fair value of the actual derivative over the cumulative change in the fair value of a hypothetical derivative which is created to match the exact terms of the underlying instruments being hedged, is reported in the gains (losses) on securities and other line item in the consolidated statement of income.
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 years ended December 31, 2015, 2014 and 2013 (dollars in millions): 
 
Year Ended December 31,
 
2015
 
2014
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
Agency debentures
$
(3
)
 
$
3

 
$
—

 
$
(100
)
 
$
91

 
$
(9
)
Agency mortgage-backed securities
(4
)
 
3

 
(1
)
 
(33
)
 
32

 
(1
)
Total gains (losses) included in earnings
$
(7
)
 
$
6

 
$
(1
)
 
$
(133
)
 
$
123

 
$
(10
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
 
 
 
 
 
 
Agency debentures
$
73

 
$
(72
)
 
$
1

 
 
 
 
 
 
Agency mortgage-backed securities
34

 
(35
)
 
(1
)
 
 
 
 
 
 
Total gains (losses) included in earnings
$
107

 
$
(107
)
 
$
—

 
 
 
 
 
 
(1)
Reflected in the gains (losses) on securities and other line item on the consolidated statement of income.