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Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2017
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 of derivatives as reported in the consolidated balance sheet at December 31, 2017 and 2016 (dollars in millions): 
 
 
 
Fair Value(1)
 
Notional
 
Asset(2)
 
Liability(3)
 
Net(4)
December 31, 2017
 
 
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
 
 
Fair value hedges
$
8,609

 
$
131

 
$
(14
)
 
$
117

Total derivatives designated as hedging instruments(5)
$
8,609

 
$
131

 
$
(14
)
 
$
117

December 31, 2016
 
 
 
 
 
 
 
Interest rate contracts:
 
 
 
 
 
 
 
Fair value hedges
$
3,862

 
$
165

 
$
(31
)
 
$
134

Total derivatives designated as hedging instruments(5)
$
3,862

 
$
165

 
$
(31
)
 
$
134

 
(1)
At December 31, 2017, excludes derivative assets and liabilities of $6 million and $18 million, respectively, that were executed through a central clearing organization and were settled by variation margin payments. See Note 5—Offsetting Assets and Liabilities for additional information.
(2)
Reflected in the other assets line item on the consolidated balance sheet.
(3)
Reflected in the other liabilities line item on the consolidated balance sheet.
(4)
Represents net fair value of derivative instruments for disclosure purposes only.
(5)
All derivatives were designated as hedging instruments at December 31, 2017 and 2016
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 as fair value hedges and related hedged items on the consolidated statement of income for the year ended December 31, 2017 and 2016 (dollars in millions): 
 
Year Ended December 31,
 
2017
 
2016
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
Agency debentures
$
1

 
$
(3
)
 
$
(2
)
 
$
28

 
$
(32
)
 
$
(4
)
Agency mortgage-backed securities
36

 
(48
)
 
(12
)
 
42

 
(44
)
 
(2
)
Total gains (losses) included in earnings
$
37

 
$
(51
)
 
$
(14
)
 
$
70

 
$
(76
)
 
$
(6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
Hedging
Instrument
 
Hedged
Item
 
Hedge
Ineffectiveness(1)
 
 
 
 
 
 
Agency debentures
$
(3
)
 
$
3

 
$

 
 
 
 
 
 
Agency mortgage-backed securities
(4
)
 
3

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

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