Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis



(In millions)	March 31, 2017
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale:
U.S. Treasury, agencies and corporations	$	—	$	14,163	$	—	$	14,163
Municipal securities			1,285				1,285
Other debt securities			24				24
Money market mutual funds and other	133		1				134
	133		15,473		—		15,606
Trading account			40				40
Other noninterest-bearing investments:
Bank-owned life insurance			499				499
Private equity investments ¹	15				78		93
Other assets:
Agriculture loan servicing and interest-only strips					20		20
Deferred compensation plan assets	95						95
Derivatives:
Interest rate swaps and forwards			2				2
Interest rate swaps for customers			44				44
Foreign currency exchange contracts	9						9
	9		46		—		55
	$	252	$	16,058	$	98	$	16,408
LIABILITIES
Securities sold, not yet purchased	$	133	$	—	$	—	$	133
Other liabilities:
Deferred compensation plan obligations	95						95
Derivatives:
Interest rate swaps and forwards			4				4
Interest rate swaps for customers			45				45
Foreign currency exchange contracts	7						7
	7		49		—		56
	$	235	$	49	$	—	$	284

¹ The Level 1 private equity investments amount relates to the portion of our SBIC investments that are now publicly traded.



(In millions)	December 31, 2016
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale:
U.S. Treasury, agencies and corporations	$	—	$	12,009	$	—	$	12,009
Municipal securities			1,154				1,154
Other debt securities			24				24
Money market mutual funds and other	184		1				185
	184		13,188		—		13,372
Trading account			115				115
Other noninterest-bearing investments:
Bank-owned life insurance			497				497
Private equity investments ¹	18				73		91
Other assets:
Agriculture loan servicing and interest-only strips					20		20
Deferred compensation plan assets	91						91
Derivatives:
Interest rate swaps and forwards			4				4
Interest rate swaps for customers			49				49
Foreign currency exchange contracts	11						11
	11		53		—		64
	$	304	$	13,853	$	93	$	14,250
LIABILITIES
Securities sold, not yet purchased	$	25	$	—	$	—	$	25
Other liabilities:
Deferred compensation plan obligations	91						91
Derivatives:
Interest rate swaps and forwards			1				1
Interest rate swaps for customers			49				49
Foreign currency exchange contracts	9						9
	9		50		—		59
	$	125	$	50	$	—	$	175

¹ The Level 1 private equity investments amount relates to the portion of our SBIC investments that are now publicly traded.

Schedule Of Assets And Liabilities Measured At Fair Value By Class On A Recurring Basis Using Level 3 Inputs



	Level 3 Instruments
	Three Months Ended March 31, 2017
(In millions)	Private equity investments			Ag loan svcg and int-only strips

Balance at December 31, 2016	$	73		$	20
Net gains included in:
Statement of income:
Securities gains, net	3
Purchases	7
Redemptions and paydowns	(5		)
Balance at March 31, 2017	$	78		$	20



	Level 3 Instruments
	Three Months Ended March 31, 2016
(In millions)	Private equity investments		Ag loan svcg and int-only strips

Balance at December 31, 2015	$	58	$	14
Net gains included in:
Statement of income:
Securities gains, net	1
Other noninterest income			3
Purchases	2
Balance at March 31, 2016	$	61	$	17

Schedule Of Realized Gains (Losses) Using Level 3 Inputs



(In millions)	Three Months Ended March 31,
	Three Months Ended March 31,
	2017		2016

Securities gains, net	$	3	$	—

Schedule Of Assets With Fair Value Changes On Nonrecurring Basis



(In millions)	Fair value at March 31, 2017								Fair value at December 31, 2016
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
ASSETS
Private equity investments	$	—	$	—	$	1	$	1	$	—	$	—	$	1	$	1
Impaired loans	—		1		—		1		—		52		—		52
Other real estate owned	—		—		—		—		—		1		—		1
	$	—	$	1	$	1	$	2	$	—	$	53	$	1	$	54

The previous fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred, such as a charge for impairment. Accordingly, carrying values may not equal current fair value.



	Gains (losses) from fair value changes
(In millions)	Three Months Ended March 31,
(In millions)	2017			2016
ASSETS
Private equity investments	$	(1	)	$	—
Impaired loans	(1		)	(15		)
	$	(2	)	$	(15	)

Fair Value, by Balance Sheet Grouping [Table Text Block]



	March 31, 2017					December 31, 2016
(In millions)	Carrying value		Estimated fair value		Level	Carrying value		Estimated fair value		Level
Financial assets:
HTM investment securities	$	815	$	803	2	$	868	$	850	2
Loans and leases (including loans held for sale), net of allowance	42,326		42,038		3	42,254		42,111		3
Financial liabilities:
Time deposits	2,994		2,977		2	2,757		2,744		2
Other short-term borrowings	2,500		2,500		2	500		500		2
Long-term debt	383		404		2	535		552		2



	March 31, 2017
(In millions)								Gross amounts not offset in the balance sheet
Description	Gross amounts recognized		Gross amounts offset in the balance sheet			Net amounts presented in the balance sheet		Financial instruments			Cash collateral received/pledged			Net amount

Assets:
Federal funds sold and security resell agreements	$	757	$	(394	)	$	363	$	—		$	—		$	363
Derivatives (included in other assets)	55		—			55		(17		)	—			38
	$	812	$	(394	)	$	418	$	(17	)	$	—		$	401
Liabilities:
Federal funds and other short-term borrowings	$	3,531	$	(394	)	$	3,137	$	—		$	—		$	3,137
Derivatives (included in other liabilities)	56		—			56		(17		)	(14		)	25
	$	3,587	$	(394	)	$	3,193	$	(17	)	$	(14	)	$	3,162



	December 31, 2016
(In millions)							Gross amounts not offset in the balance sheet
Description	Gross amounts recognized		Gross amounts offset in the balance sheet		Net amounts presented in the balance sheet		Financial instruments			Cash collateral received/pledged			Net amount

Assets:
Federal funds sold and security resell agreements	$	568	$	—	$	568	$	—		$	—		$	568
Derivatives (included in other assets)	64		—		64		(17		)	—			47
	$	632	$	—	$	632	$	(17	)	$	—		$	615
Liabilities:
Federal funds and other short-term borrowings	$	827	$	—	$	827	$	—		$	—		$	827
Derivatives (included in other liabilities)	59		—		59		(17		)	(17		)	25
	$	886	$	—	$	886	$	(17	)	$	(17	)	$	852