Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Schedule of Stock by Class

The following table presents the preferred stock outstanding (in millions except total shares outstanding and per share data):

						Carrying Value at
Description	Issuance Date	Per Annum Dividend Rate	Total Shares Outstanding	Liquidation Preference per Share		March 31, 2018		December 31, 2017
Series A
Fixed-to-Floating Rate Non-Cumulative	8/25/2016	5.875% to, but excluding, 9/15/2026; 3-mo LIBOR + 4.435% thereafter	400,000	$	1,000	$	394	$	394
Series B
Fixed-to-Floating Rate Non-Cumulative	12/6/2017	5.30% to, but excluding, 3/15/2023; 3-mo LIBOR + 3.16% thereafter	3,000	$	100,000	295		295
Total			403,000			$	689	$	689

Dividends Declared and Paid

The following table presents the cash dividend paid on preferred stock (in millions except per share data):

Three Months Ended March 31, 2018

Three Months Ended March 31, 2017

Declaration Date

Record Date

Payment Date

Dividend per Share

Dividend Paid

Declaration Date

Record Date

Payment Date

Dividend per Share

Dividend Paid

Series A(1)

2/8/2018

2/28/2018

3/15/2018

$

29.38

$

12

2/2/2017

2/28/2017

3/15/2017

$

32.64

$

13

(1) Dividends are non-cumulative and payable semi-annually.

Schedule of Accumulated Other Comprehensive Loss

The following tables present after-tax changes in each component of accumulated other comprehensive loss (dollars in millions):

	Total (1)
Balance, December 31, 2017	$	(26	)
Other comprehensive loss before reclassifications	(128		)
Amounts reclassified from accumulated other comprehensive loss	(7		)
Transfer of held-to-maturity securities to available-for-sale securities(2)	6
Net change	(129		)
Cumulative effect of hedge accounting adoption	(7		)
Reclassification of tax effects due to federal tax reform	(14		)
Balance, March 31, 2018(3)	$	(176	)

(1) During the three month ended March 31, 2018, the accumulated other comprehensive loss activity related to available-for-sale securities.

(2) Securities with a carrying value of $4.7 billion and related unrealized pre-tax gain of $7 million, or $6 million net of tax, were transferred from held-to-maturity securities to available-for-sale securities during the three months ended March 31, 2018, as part of a one-time transition election for early adopting the new derivatives and hedge accounting guidance. See Note 1—Organization, Basis of Presentation and Summary of Significant Accounting Policiesfor additional information.

(3) Includes unamortized unrealized pre-tax losses of $24 million at March 31, 2018 of which $18 million is related to the transfer of available-for-sale securities to held-to-maturity securities during the three months ended March 31, 2018.

	Available-for-Sale Securities			Foreign  Currency Translation			Total
Balance, December 31, 2016	$	(139	)	$	2		$	(137	)
Other comprehensive income before reclassifications	46			—			46
Amounts reclassified from accumulated other comprehensive loss	(5		)	(2		)	(7		)
Net change	41			(2		)	39
Balance, March 31, 2017	$	(98	)	$	—		$	(98	)

Components of Other Comprehensive Income (Loss)

The following table presents other comprehensive income (loss) activity and the related tax effect (dollars in millions):

	Three Months Ended March 31,
	2018									2017
	Before Tax			Tax Effect			After Tax			Before Tax			Tax Effect			After Tax
Other comprehensive income (loss)
Available-for-sale securities:
Unrealized gains (losses), net	$	(172	)	$	44		$	(128	)	$	76		$	(30	)	$	46
Reclassification into earnings, net	(10		)	3			(7		)	(8		)	3			(5		)
Transfer of held-to-maturity securities to available-for-sale securities	7			(1		)	6			—			—			—
Net change from available-for-sale securities	(175		)	46			(129		)	68			(27		)	41
Reclassification of foreign currency translation gains	—			—			—			(2		)	—			(2		)
Other comprehensive income (loss)	$	(175	)	$	46		$	(129	)	$	66		$	(27	)	$	39

Reclassification out of Accumulated Other Comprehensive Loss

The following table presents the consolidated statement of income line items impacted by reclassifications out of accumulated other comprehensive loss (dollars in millions):

Accumulated Other Comprehensive Loss Components	Amounts Reclassified from Accumulated Other Comprehensive Loss						Affected Line Items in the Consolidated Statement of Income
	Three Months Ended March 31,
	2018			2017
Available-for-sale securities:	$	11		$	8		Gains on securities and other, net
	(1		)	—			Interest income
	10			8			Reclassification into earnings, before tax
	(3		)	(3		)	Income tax expense
	$	7		$	5		Reclassification into earnings, net
Foreign currency translation:	$	—		$	2		Other non-interest expenses
	$	—		$	2		Reclassification into earnings, net