Fair Value (Tables)

3 Months Ended

Mar. 31, 2018

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



(In millions)	March 31, 2018
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale: ¹
U.S. Treasury, agencies and corporations	$	25	$	13,542	$	—	$	13,567
Municipal securities			1,305				1,305
Other debt securities			24				24
Total Available-for-sale	25		14,871		—		14,896
Trading account	35		108				143
Other noninterest-bearing investments:
Bank-owned life insurance			509				509
Private equity investments					100		100
Other assets:
Agriculture loan servicing and interest-only strips					18		18
Deferred compensation plan assets	107						107
Derivatives:
Interest rate swaps and forwards			1				1
Interest rate swaps for customers			21				21
Foreign currency exchange contracts	6						6
Total Assets	$	173	$	15,510	$	118	$	15,801
LIABILITIES
Securities sold, not yet purchased	$	96	$	—	$	—	$	96
Other liabilities:
Deferred compensation plan obligations	107						107
Derivatives:
Interest rate swaps for customers			52				52
Foreign currency exchange contracts	4						4
Total Liabilities	$	207	$	52	$	—	$	259

¹ We used a third-party pricing service to measure fair value for approximately 91% of our AFS Level 2 securities.



(In millions)	December 31, 2017
	Level 1		Level 2		Level 3		Total
ASSETS
Investment securities:
Available-for-sale: ¹
U.S. Treasury, agencies and corporations	$	25	$	13,706	$	—	$	13,731
Municipal securities			1,334				1,334
Other debt securities			24				24
Money market mutual funds and other	71		1				72
Total Available-for-sale	96		15,065		—		15,161
Trading account			148				148
Other noninterest-bearing investments:
Bank-owned life insurance			507				507
Private equity investments					95		95
Other assets:
Agriculture loan servicing and interest-only strips					18		18
Deferred compensation plan assets	102						102
Derivatives:
Interest rate swaps and forwards			1				1
Interest rate swaps for customers			28				28
Foreign currency exchange contracts	9						9
Total Assets	$	207	$	15,749	$	113	$	16,069
LIABILITIES
Securities sold, not yet purchased	$	95	$	—	$	—	$	95
Other liabilities:
Deferred compensation plan obligations	102						102
Derivatives:
Interest rate swaps for customers			33				33
Foreign currency exchange contracts	7						7
Total Liabilities	$	204	$	33	$	—	$	237

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

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, 2018				March 31, 2017
(In millions)	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	$	95	$	18	$	73		$	20
Securities gains, net	—		—		3			—
Purchases	5		—		7			—
Redemptions and paydowns	—		—		(5		)	—
Balance at end of period	$	100	$	18	$	78		$	20

Schedule Of Realized Gains (Losses) Using Level 3 Inputs



(In millions)	Three Months Ended March 31,
	Three Months Ended March 31,
	2018		2017

Securities gains, net	$	—	$	3

Schedule Of Assets With Fair Value Changes On Nonrecurring Basis



(In millions)	Fair value at March 31, 2018								Fair value at December 31, 2017
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
ASSETS
Private equity investments	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	1
Impaired loans	—		22		—		22		—		9		—		9
Other real estate owned	—		1		—		1		—		—		—		—
Total	$	—	$	23	$	—	$	23	$	—	$	9	$	1	$	10

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)	2018			2017
ASSETS
Private equity investments	$	—		$	(1	)
Impaired loans	(4		)	(1		)
Other real estate owned	(1		)	—
Total	$	(5	)	$	(2	)

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



	March 31, 2018					December 31, 2017
(In millions)	Carrying value		Estimated fair value		Level	Carrying value		Estimated fair value		Level
Financial assets:
HTM investment securities	$	768	$	752	2	$	770	$	762	2
Loans and leases (including loans held for sale), net of allowance	44,700		43,802		3	44,306		44,226		3
Financial liabilities:
Time deposits	3,581		3,554		2	3,115		3,099		2
Other short-term borrowings	4,450		4,450		2	3,600		3,600		2
Long-term debt	383		384		2	383		402		2



	March 31, 2018
(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	$	793	$	(97	)	$	696	$	—		$	—		$	696
Derivatives (included in other assets)	28		—			28		(5		)	(5		)	18
Total assets	$	821	$	(97	)	$	724	$	(5	)	$	(5	)	$	714
Liabilities:
Federal funds and other short-term borrowings	$	4,964	$	(97	)	$	4,867	$	—		$	—		$	4,867
Derivatives (included in other liabilities)	56		—			56		(5		)	(2		)	49
Total Liabilities	$	5,020	$	(97	)	$	4,923	$	(5	)	$	(2	)	$	4,916



	December 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	$	809	$	(295	)	$	514	$	—		$	—		$	514
Derivatives (included in other assets)	38		—			38		(9		)	(1		)	28
Total assets	$	847	$	(295	)	$	552	$	(9	)	$	(1	)	$	542
Liabilities:
Federal funds and other short-term borrowings	$	5,271	$	(295	)	$	4,976	$	—		$	—		$	4,976
Derivatives (included in other liabilities)	40		—			40		(9		)	(6		)	25
Total Liabilities	$	5,311	$	(295	)	$	5,016	$	(9	)	$	(6	)	$	5,001