Fair Value (Tables)

9 Months Ended

Sep. 30, 2017

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



(In millions)	September 30, 2017
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale: ¹
U.S. Treasury, agencies and corporations	$	25	$	13,814	$	—	$	13,839
Municipal securities			1,291				1,291
Other debt securities			25				25
Money market mutual funds and other	86		1				87
	111		15,131		—		15,242
Trading account			56				56
Other noninterest-bearing investments:
Bank-owned life insurance			504				504
Private equity investments					93		93
Other assets:
Agriculture loan servicing and interest-only strips					19		19
Deferred compensation plan assets	97						97
Derivatives:
Interest rate swaps and forwards			1				1
Interest rate swaps for customers			36				36
Foreign currency exchange contracts	6						6
	6		37		—		43
	$	214	$	15,728	$	112	$	16,054
LIABILITIES
Securities sold, not yet purchased	$	48	$	—	$	—	$	48
Other liabilities:
Deferred compensation plan obligations	97						97
Derivatives:
Interest rate swaps for customers			30				30
Foreign currency exchange contracts	5						5
	5		30		—		35
	$	150	$	30	$	—	$	180

¹ We used a third-party pricing service to measure fair value for approximately 92% of our AFS Level 2 securities.



(In millions)	December 31, 2016
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale: ¹
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 ²	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 We used a third-party pricing service to measure fair value for approximately 91% of our AFS Level 2 securities.

² 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								Nine Months Ended
	September 30, 2017				September 30, 2016				September 30, 2017						September 30, 2016
(In millions)	Private equity investments		Ag loan svcg and int-only strips		Private equity investments		Ag loan svcg and int-only strips		Private equity investments			Ag loan svcg and int-only strips			Private equity investments		Ag loan svcg and int-only strips

Balance at beginning of period	$	82	$	19	$	64	$	18	$	73		$	20		$	58	$	14
Securities gains, net	5		—		1		—		7			—			3		—
Other noninterest income	—		—		—		2		—			(1		)	—		6
Purchases	6		—		2		—		18			—			6		—
Redemptions and paydowns	—		—		—		—		(5		)	—			—		—
Balance at end of period	$	93	$	19	$	67	$	20	$	93		$	19		$	67	$	20

Schedule Of Realized Gains (Losses) Using Level 3 Inputs



(In millions)	Three Months Ended September 30,				Nine Months Ended September 30,
	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016

Securities gains, net	$	—	$	4	$	3	$	4

Schedule Of Assets With Fair Value Changes On Nonrecurring Basis



(In millions)	Fair value at September 30, 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	—		17		—		17		—		52		—		52
Other real estate owned	—		—		—		—		—		1		—		1
	$	—	$	17	$	1	$	18	$	—	$	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 September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
ASSETS
Private equity investments	$	—		$	—		$	(1	)	$	—
Impaired loans	(1		)	(5		)	(8		)	(34		)
Other real estate owned	—			(1		)	—			(1		)
	$	(1	)	$	(6	)	$	(9	)	$	(35	)

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



	September 30, 2017					December 31, 2016
(In millions)	Carrying value		Estimated fair value		Level	Carrying value		Estimated fair value		Level
Financial assets:
HTM investment securities	$	746	$	743	2	$	868	$	850	2
Loans and leases (including loans held for sale), net of allowance	43,686		43,196		3	42,254		42,111		3
Financial liabilities:
Time deposits	2,909		2,890		2	2,757		2,744		2
Other short-term borrowings	3,250		3,250		2	500		500		2
Long-term debt	383		406		2	535		552		2



	September 30, 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	$	779	$	(312	)	$	467	$	—		$	—		$	467
Derivatives (included in other assets)	43		—			43		(15		)	—			28
Total assets	$	822	$	(312	)	$	510	$	(15	)	$	—		$	495
Liabilities:
Federal funds and other short-term borrowings	$	4,936	$	(312	)	$	4,624	$	—		$	—		$	4,624
Derivatives (included in other liabilities)	35		—			35		(15		)	(11		)	9
Total Liabilities	$	4,971	$	(312	)	$	4,659	$	(15	)	$	(11	)	$	4,633



	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
Total assets	$	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
Total Liabilities	$	886	$	—	$	886	$	(17	)	$	(17	)	$	852