XML 54 R33.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of Held-to-maturity and Available-for-sale Securities

The following table presents our investment securities:
 
Amortized Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair Value
 
(Dollars in millions)
December 31, 2019
 
 
 
 
Available-for-sale securities
 
 
 
 
Agency - Commercial
$
948

$
2

$
(3
)
$
947

Agency - Residential
1,015

4

(4
)
1,015

Corporate debt obligations
76

1

—

77

Municipal obligations
31

—

—

31

Other MBS
44

1

—

45

Certificates of Deposit
1





1

Total available-for-sale securities (1)
$
2,115

$
8

$
(7
)
$
2,116

Held-to-maturity securities
 
 
 
 
Agency - Commercial
$
306

$
—

$
(1
)
$
305

Agency - Residential
292

3

(1
)
294

Total held-to-maturity securities (1)
$
598

$
3

$
(2
)
$
599

December 31, 2018
 
 
 
 
Available-for-sale securities
 
 
 
 
Agency - Commercial
$
1,413

$
4

$
(43
)
$
1,374

Agency - Residential
686

—

(24
)
662

Corporate debt obligations
41

—

—

41

Municipal obligations
33

—

(1
)
32

Other MBS
32

—

—

32

Certificates of Deposit
1

—

—

1

Total available-for-sale securities (1)
$
2,206

$
4

$
(68
)
$
2,142

Held-to-maturity securities
 
 
 
 
Agency - Commercial
$
349

$
—

$
(13
)
$
336

Agency - Residential
354

—

(9
)
345

Total held-to-maturity securities (1)
$
703

$
—

$
(22
)
$
681


(1)
There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10 percent of stockholders’ equity at December 31, 2019 or December 31, 2018.
Summary of Unrealized Loss Positions on Investment Securities Available-for-Sale
The following table summarizes, by duration, the unrealized loss positions on investment securities:
 
Unrealized Loss Position with Duration
12 Months and Over
Unrealized Loss Position with Duration
Under 12 Months
 
Fair
Value
Number of
Securities
Unrealized
Loss
Fair
Value
Number of
Securities
Unrealized
Loss
 
(Dollars in millions)
December 31, 2019
 
Available-for-sale securities
 
 
 
 
 
 
Agency - Commercial
$
148

17

$
(3
)
$
303

19

$
—

Agency - Residential
266

26

(3
)
148

14

(1
)
Municipal obligations
8

3

—

—

—

—

Held-to-maturity securities
 
 
 
 
 
 
Agency - Commercial
$
148

13

$
(1
)
$
85

6

$
—

Agency - Residential
35

7

(1
)
38

10

—

December 31, 2018
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
Agency - Commercial
$
1,025

74

$
(43
)
$
1

1

$
—

Agency - Residential
647

79

(24
)
14

5

—

Municipal obligations
28

16

(1
)
1

2

—

Corporate debt obligations
—

—

—

7

2

—

Held-to-maturity securities
 
 
 
 
 
 
Agency - Commercial
$
336

26

$
(13
)
$
—

—

$
—

Agency - Residential
345

60

(9
)
—

—

—


    
Summary of Unrealized Loss Positions on Investment Securities Held-to-Maturity
The following table summarizes, by duration, the unrealized loss positions on investment securities:
 
Unrealized Loss Position with Duration
12 Months and Over
Unrealized Loss Position with Duration
Under 12 Months
 
Fair
Value
Number of
Securities
Unrealized
Loss
Fair
Value
Number of
Securities
Unrealized
Loss
 
(Dollars in millions)
December 31, 2019
 
Available-for-sale securities
 
 
 
 
 
 
Agency - Commercial
$
148

17

$
(3
)
$
303

19

$
—

Agency - Residential
266

26

(3
)
148

14

(1
)
Municipal obligations
8

3

—

—

—

—

Held-to-maturity securities
 
 
 
 
 
 
Agency - Commercial
$
148

13

$
(1
)
$
85

6

$
—

Agency - Residential
35

7

(1
)
38

10

—

December 31, 2018
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
Agency - Commercial
$
1,025

74

$
(43
)
$
1

1

$
—

Agency - Residential
647

79

(24
)
14

5

—

Municipal obligations
28

16

(1
)
1

2

—

Corporate debt obligations
—

—

—

7

2

—

Held-to-maturity securities
 
 
 
 
 
 
Agency - Commercial
$
336

26

$
(13
)
$
—

—

$
—

Agency - Residential
345

60

(9
)
—

—

—
Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity
The following shows the amortized cost and estimated fair value of securities by contractual maturity:
 
Investment Securities Available-for-Sale
 
Investment Securities Held-to-Maturity
 
Amortized
Cost
Fair
Value
Weighted-Average
Yield
 
Amortized
Cost
Fair
Value
Weighted-Average
Yield
 
(Dollars in millions)
December 31, 2019
 
 
 
Due in one year or less
$
3

$
3

2.12
%
 
$
—

$
—

—
%
Due after one year through five years
20

20

4.07
%
 
10

10

2.48
%
Due after five years through 10 years
93

95

4.23
%
 
9

9

2.29
%
Due after 10 years
1,999

1,998

2.41
%
 
579

580

2.42
%
Total
$
2,115

$
2,116

 
 
$
598

$
599