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Available-for-Sale and Held-to-Maturity Securities (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Investments Securities
The following table presents the amortized cost and fair value of available-for-sale and held-to-maturity securities (dollars in millions):
Amortized
Cost		Gross
Unrealized /
Unrecognized
Gains		Gross
Unrealized /
Unrecognized
Losses		Fair Value
June 30, 2020:
Available-for-sale securities:
Agency mortgage-backed securities$14,567  $1,151  $(83) $15,635  
Agency debentures1,210  49  (4) 1,255  
US Treasuries1,202  121  —  1,323  
Non-agency asset-backed securities(1)
1,479  14  (5) 1,488  
Non-agency mortgage-backed securities272  19  —  291  
Total available-for-sale securities$18,730  $1,354  $(92) $19,992  
Held-to-maturity securities:
Agency mortgage-backed securities$25,579  $870  $(34) $26,415  
Agency debentures208  13  (2) 219  
Other agency debt securities1,395  67  —  1,462  
Total held-to-maturity securities$27,182  $950  $(36) $28,096  
December 31, 2019:
Available-for-sale securities:(2)
Agency mortgage-backed securities$16,267  $836  $(68) $17,035  
Agency debentures632  27  —  659  
US Treasuries1,233  34  (40) 1,227  
Non-agency asset-backed securities(1)
417  2  (2) 417  
Non-agency mortgage-backed securities159  4  —  163  
Total available-for-sale securities$18,708  $903  $(110) $19,501  
Held-to-maturity securities:(2)
Agency mortgage-backed securities$20,085  $293  $(49) $20,329  
Agency debentures267  4  —  271  
Other agency debt securities1,617  31  (2) 1,646  
Total held-to-maturity securities$21,969  $328  $(51) $22,246  
(1)Non-agency ABS collateralized by credit card, automobile loan and student loan receivables represented approximately 40%, 37% and 23% respectively, of the amortized cost of the non-agency ABS held at June 30, 2020 and approximately 54%, 18% and 28%, respectively, of the amortized cost of the non-agency ABS held at December 31, 2019.
(2)Securities with a fair value of $744 million were transferred from available-for-sale to held-to-maturity based on a change in intent and demonstrated ability to hold these to maturity in December 2019.
Investments Classified by Contractual Maturity Date
The following table presents the contractual maturities of all available-for-sale and held-to-maturity debt securities (dollars in millions):
June 30, 2020
Amortized CostFair Value
Available-for-sale debt securities:
Due within one year$400  $402  
Due within one to five years1,045  1,057  
Due within five to ten years9,274  10,244  
Due after ten years8,011  8,289  
Total available-for-sale debt securities$18,730  $19,992  
Held-to-maturity debt securities:
Due within one year$55  $56  
Due within one to five years2,016  2,114  
Due within five to ten years2,780  2,992  
Due after ten years22,331  22,934  
Total held-to-maturity debt securities$27,182  $28,096  
Schedule of Unrealized Loss on Investments
The following table presents the fair value and unrealized or unrecognized losses on available-for-sale and held-to-maturity securities, and the length of time that individual securities have been in a continuous unrealized or unrecognized loss position (dollars in millions):
 Less than 12 Months12 Months or MoreTotal
 Fair ValueUnrealized /
Unrecognized
Losses		Fair ValueUnrealized /
Unrecognized
Losses		Fair ValueUnrealized /
Unrecognized
Losses
June 30, 2020:
Available-for-sale securities:
Agency mortgage-backed securities$2,427  $(47) $1,231  $(36) $3,658  $(83) 
Non-agency mortgage-backed securities31  —  —  —  31  —  
Agency debentures296  (4) —  —  296  (4) 
US Treasuries175  —  —  —  175  —  
Non-agency asset-backed securities330  (4) 88  (1) 418  (5) 
Total temporarily impaired available-for-sale securities$3,259  $(55) $1,319  $(37) $4,578  $(92) 
Held-to-maturity securities:
Agency mortgage-backed securities$1,315  $(5) $1,074  $(29) $2,389  $(34) 
Agency debentures99  (2) —  —  99  (2) 
Other agency debt securities—  —  33  —  33  —  
Total temporarily impaired held-to-maturity securities$1,414  $(7) $1,107  $(29) $2,521  $(36) 
December 31, 2019:
Available-for-sale securities:
Agency mortgage-backed securities$2,045  $(32) $1,916  $(36) $3,961  $(68) 
Non-agency mortgage-backed securities50  —  —  —  50  —  
US Treasuries402  (40) —  —  402  (40) 
Non-agency asset-backed securities251  (2) —  —  251  (2) 
Total temporarily impaired available-for-sale securities$2,748  $(74) $1,916  $(36) $4,664  $(110) 
Held-to-maturity securities:
Agency mortgage-backed securities$1,337  $(4) $3,600  $(45) $4,937  $(49) 
Other agency debt securities181  (1) 135  (1) 316  (2) 
Total temporarily impaired held-to-maturity securities$1,518  $(5) $3,735  $(46) $5,253  $(51) 
Gains on Securities and Other, Net
The following table presents the components of gains (losses) on securities and other, net (dollars in millions):
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Gains (losses) on available-for-sale securities, net:
  Gains on available-for-sale securities$38  $15  $57  $26  
  Losses on available-for-sale securities(15) (80) (15) (80) 
  Subtotal23  (65) 42  (54) 
Equity method investment income and other—  1  1  1  
Gains (losses) on securities and other, net$23  $(64) $43  $(53)