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Investments (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Fixed Maturity and Equity Securities Available-for-Sale

The following table presents the fixed maturity and equity securities available-for-sale (“AFS”) by sector. Redeemable preferred stock is reported within U.S. corporate and foreign corporate fixed maturity securities and non-redeemable preferred stock is reported within equity securities. Included within fixed maturity securities are structured securities including residential mortgage-backed securities (“RMBS”), asset-backed securities (“ABS”) and commercial mortgage-backed securities (“CMBS”) (collectively, “Structured Securities”).



	June 30, 2016											December 31, 2015
	Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value		Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value
	Cost or Amortized Cost		Gains		Temporary Losses		OTTI Losses			Estimated Fair Value		Cost or Amortized Cost		Gains		Temporary Losses		OTTI Losses			Estimated Fair Value
	(In millions)
Fixed maturity securities:
U.S. corporate	$	95,218	$	10,302	$	905	$	—		$	104,615	$	96,466	$	6,583	$	2,255	$	—		$	100,794
U.S. government and agency	59,591		10,167		21		—			69,737		56,499		5,373		226		—			61,646
Foreign corporate	56,813		3,865		1,466		—			59,212		56,003		3,019		1,822		2			57,198
Foreign government	52,293		10,113		145		—			62,261		45,451		5,269		221		—			50,499
RMBS	43,223		1,790		364		51			44,598		37,914		1,366		424		59			38,797
State and political subdivision	14,403		3,024		11		6			17,410		13,723		1,795		67		10			15,441
ABS	16,689		141		309		3			16,518		14,498		131		229		6			14,394
CMBS (1)	12,591		660		95		(1		)	13,157		12,410		347		125		(1		)	12,633
Total fixed maturity securities	$	350,821	$	40,062	$	3,316	$	59		$	387,508	$	332,964	$	23,883	$	5,369	$	76		$	351,402
Equity securities:
Common stock	$	2,013	$	431	$	18	$	—		$	2,426	$	1,962	$	397	$	107	$	—		$	2,252
Non-redeemable preferred stock	901		70		64		—			907		1,035		85		51		—			1,069
Total equity securities	$	2,914	$	501	$	82	$	—		$	3,333	$	2,997	$	482	$	158	$	—		$	3,321

__________________


(1)	The noncredit loss component of other-than-temporary impairment (“OTTI”) losses for CMBS was in an unrealized gain position of $1 million at both June 30, 2016 and December 31, 2015, due to increases in estimated fair value subsequent to initial recognition of noncredit losses on such securities. See also “— Net Unrealized Investment Gains (Losses).”

Available-for-sale fixed maturity securities by contractual maturity date

The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at June 30, 2016:



	Due in One Year or Less		Due After One Year Through Five Years		Due After Five Years Through Ten Years		Due After Ten Years		Structured Securities		Total Fixed Maturity Securities
	(In millions)
Amortized cost	$	13,404	$	80,755	$	69,842	$	114,317	$	72,503	$	350,821
Estimated fair value	$	13,499	$	85,064	$	74,476	$	140,196	$	74,273	$	387,508

Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale

The following table presents the estimated fair value and gross unrealized losses of fixed maturity and equity securities AFS in an unrealized loss position, aggregated by sector and by length of time that the securities have been in a continuous unrealized loss position.



	June 30, 2016								December 31, 2015
	Less than 12 Months				Equal to or Greater than 12 Months				Less than 12 Months				Equal to or Greater than 12 Months
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(Dollars in millions)
Fixed maturity securities:
U.S. corporate	$	7,932	$	394	$	5,581	$	511	$	27,526	$	1,629	$	3,762	$	626
U.S. government and agency	1,026		3		164		18		19,628		222		298		4
Foreign corporate	8,135		585		6,477		881		14,447		911		5,251		913
Foreign government	1,298		83		807		62		3,530		166		429		55
RMBS	5,221		183		3,033		232		13,467		287		2,431		196
State and political subdivision	172		3		89		14		1,618		55		168		22
ABS	5,136		176		4,555		136		7,329		124		2,823		111
CMBS	900		45		982		49		4,876		81		637		43
Total fixed maturity securities	$	29,820	$	1,472	$	21,688	$	1,903	$	92,421	$	3,475	$	15,799	$	1,970
Equity securities:
Common stock	$	114	$	18	$	7	$	—	$	203	$	105	$	20	$	2
Non-redeemable preferred stock	50		6		168		58		79		2		200		49
Total equity securities	$	164	$	24	$	175	$	58	$	282	$	107	$	220	$	51
Total number of securities in an unrealized loss position	2,783				1,965				6,366				1,489

Disclosure of Mortgage Loans Net of Valuation Allowance

Mortgage loans are summarized as follows at:



	June 30, 2016					December 31, 2015
	Carrying Value			% of Total		Carrying Value			% of Total
	(Dollars in millions)
Mortgage loans:
Commercial	$	45,165		65.1	%	$	44,012		65.6	%
Agricultural	13,434			19.4		13,188			19.6
Residential	10,659			15.4		9,734			14.5
Subtotal (1)	69,258			99.9		66,934			99.7
Valuation allowances	(467		)	(0.7	)	(318		)	(0.5	)
Subtotal mortgage loans, net	68,791			99.2		66,616			99.2
Residential — FVO	449			0.6		314			0.5
Commercial mortgage loans held by CSEs — FVO	159			0.2		172			0.3
Total mortgage loans, net	$	69,399		100.0	%	$	67,102		100.0	%

__________________


(1)	Purchases of mortgage loans were $1.2 billion and $1.4 billion for the three months and six months ended June 30, 2016, respectively, and $785 million and $2.2 billion for the three months and six months ended June 30, 2015, respectively.

Disclosure of mortgage loans held-for-investment and valuation allowances by method of evaluation for credit loss

Mortgage loans by portfolio segment, by method of evaluation of credit loss, impaired mortgage loans including those modified in a troubled debt restructuring, and the related valuation allowances, were as follows at:



	Evaluated Individually for Credit Losses										Evaluated Collectively for Credit Losses				Impaired Loans
	Impaired Loans with a Valuation Allowance						Impaired Loans without a Valuation Allowance
	Unpaid Principal Balance		Recorded Investment		Valuation Allowances		Unpaid Principal Balance		Recorded Investment		Recorded Investment		Valuation Allowances		Carrying Value
	(In millions)
June 30, 2016
Commercial	$	176	$	157	$	143	$	12	$	12	$	44,996	$	224	$	26
Agricultural	16		13		1		39		38		13,383		40		50
Residential	—		—		—		205		189		10,470		59		189
Total	$	192	$	170	$	144	$	256	$	239	$	68,849	$	323	$	265
December 31, 2015
Commercial	$	—	$	—	$	—	$	57	$	57	$	43,955	$	217	$	57
Agricultural	49		47		3		22		21		13,120		39		65
Residential	—		—		—		141		131		9,603		59		131
Total	$	49	$	47	$	3	$	220	$	209	$	66,678	$	315	$	253

Allowance for Loan and Lease Losses, Provision for Loss, Net

The changes in the valuation allowance, by portfolio segment, were as follows:



	Six Months Ended June 30,
	2016											2015
	Commercial		Agricultural			Residential			Total			Commercial		Agricultural		Residential			Total
	(In millions)
Balance, beginning of period	$	217	$	42		$	59		$	318		$	224	$	39	$	42		$	305
Provision (release)	150		1			7			158			4		2		23			29
Charge-offs, net of recoveries	—		(2		)	(7		)	(9		)	—		—		(9		)	(9		)
Balance, end of period	$	367	$	41		$	59		$	467		$	228	$	41	$	56		$	325

Schedule of Financing Receivables, Non Accrual Status

The past due and accrual status of mortgage loans at recorded investment, prior to valuation allowances, by portfolio segment, were as follows at:



	Past Due				Nonaccrual Status
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
	(In millions)
Commercial	$	—	$	2	$	—	$	—
Agricultural	118		103		39		46
Residential	333		326		320		318
Total	$	451	$	431	$	359	$	364

Components of net unrealized investment gains (losses) included in accumulated other comprehensive income (loss)

The components of net unrealized investment gains (losses), included in AOCI, were as follows:



	June 30, 2016			December 31, 2015
	(In millions)
Fixed maturity securities	$	36,633		$	18,164
Fixed maturity securities with noncredit OTTI losses included in AOCI	(59		)	(76		)
Total fixed maturity securities	36,574			18,088
Equity securities	558			422
Derivatives	3,766			2,350
Other	333			287
Subtotal	41,231			21,147
Amounts allocated from:
Future policy benefits	(4,410		)	(163		)
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	(2		)	—
DAC, VOBA and DSI	(2,380		)	(1,273		)
Policyholder dividend obligation	(3,343		)	(1,783		)
Subtotal	(10,135		)	(3,219		)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	23			27
Deferred income tax benefit (expense)	(10,473		)	(6,151		)
Net unrealized investment gains (losses)	20,646			11,804
Net unrealized investment gains (losses) attributable to noncontrolling interests	(11		)	(31		)
Net unrealized investment gains (losses) attributable to MetLife, Inc.	$	20,635		$	11,773

The changes in net unrealized investment gains (losses) were as follows:



	Six Months Ended June 30, 2016
	(In millions)
Balance, beginning of period	$	11,773
Fixed maturity securities on which noncredit OTTI losses have been recognized	17
Unrealized investment gains (losses) during the period	20,067
Unrealized investment gains (losses) relating to:
Future policy benefits	(4,247		)
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	(2		)
DAC, VOBA and DSI	(1,107		)
Policyholder dividend obligation	(1,560		)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	(4		)
Deferred income tax benefit (expense)	(4,322		)
Net unrealized investment gains (losses)	20,615
Net unrealized investment gains (losses) attributable to noncontrolling interests	20
Balance, end of period	$	20,635
Change in net unrealized investment gains (losses)	$	8,842
Change in net unrealized investment gains (losses) attributable to noncontrolling interests	20
Change in net unrealized investment gains (losses) attributable to MetLife, Inc.	$	8,862

Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]

The changes in fixed maturity securities with noncredit OTTI losses included in AOCI were as follows:



	Six Months Ended June 30, 2016			Year Ended December 31, 2015
	(In millions)
Balance, beginning of period	$	(76	)	$	(112	)
Noncredit OTTI losses and subsequent changes recognized	6			6
Securities sold with previous noncredit OTTI loss	23			125
Subsequent changes in estimated fair value	(12		)	(95		)
Balance, end of period	$	(59	)	$	(76	)

Securities Lending

Elements of the securities lending program are presented below at:



	June 30, 2016		December 31, 2015
	(In millions)
Securities on loan: (1)
Amortized cost	$	26,471	$	27,223
Estimated fair value	$	31,392	$	29,646
Cash collateral on deposit from counterparties (2)	$	32,006	$	30,197
Security collateral on deposit from counterparties (3)	$	198	$	50
Reinvestment portfolio — estimated fair value	$	32,330	$	30,258

__________________


(1)	Included within fixed maturity securities, short-term investments and cash equivalents. At June 30, 2016, both amortized cost and estimated fair value also included $106 million, at estimated fair value, of securities which are not reflected on the consolidated financial statements.


(2)	Included within payables for collateral under securities loaned and other transactions.


(3)	Security collateral on deposit from counterparties may not be sold or re-pledged, unless the counterparty is in default, and is not reflected on the consolidated financial statements.

The cash collateral liability by loaned security type and remaining tenor of the agreements were as follows at:



	June 30, 2016
	Remaining Tenor of Securities Lending Agreements
	Open (1)		1 Month or Less		1 to 6 Months		Total		% of Total
	(Dollars in millions)
Cash collateral liability by loaned security type:
U.S. government and agency	$	8,379	$	9,517	$	11,514	$	29,410	91.9	%
Agency RMBS	—		—		1,265		1,265		4.0
Foreign government	—		911		—		911		2.8
U.S. corporate	7		401		—		408		1.3
Foreign corporate	—		12		—		12		—
Total	$	8,386	$	10,841	$	12,779	$	32,006	100	%



	December 31, 2015
	Remaining Tenor of Securities Lending Agreements
	Open (1)		1 Month or Less		1 to 6 Months		Total		% of Total
	(Dollars in millions)
Cash collateral liability by loaned security type:
U.S. government and agency	$	10,116	$	11,157	$	5,986	$	27,259	90.3	%
Agency RMBS	—		951		600		1,551		5.1
Foreign government	2		510		486		998		3.3
U.S. corporate	9		380		—		389		1.3
Foreign corporate	—		—		—		—		—
Total	$	10,127	$	12,998	$	7,072	$	30,197	100	%

__________________


(1)	The related loaned security could be returned to the Company on the next business day which would require the Company to immediately return the cash collateral.

Invested Assets on Deposit, Held in Trust and Pledged as Collateral

Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value for all asset classes, except mortgage loans, which are presented at carrying value at:



	June 30, 2016		December 31, 2015
	(In millions)
Invested assets on deposit (regulatory deposits)	$	10,353	$	9,089
Invested assets held in trust (collateral financing arrangements and reinsurance agreements)	11,767		10,443
Invested assets pledged as collateral (1)	28,606		23,145
Total invested assets on deposit, held in trust and pledged as collateral	$	50,726	$	42,677

__________________

(1)

The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Notes 4 and 12 of the Notes to the Consolidated Financial Statements included in the 2015 Annual Report), collateral financing arrangements (see Note 13 of the Notes to the Consolidated Financial Statements included in the 2015 Annual Report) and derivative transactions (see Note 7).

The Components of Net Investment Income

The components of net investment income were as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
	2016		2015			2016		2015
	(In millions)
Investment income:
Fixed maturity securities	$	3,564	$	3,672		$	7,218	$	7,213
Equity securities	33		35			70		66
FVO and trading securities — Actively traded and FVO general account securities (1)	10		2			16		39
Mortgage loans	851		801			1,658		1,531
Policy loans	147		151			296		303
Real estate and real estate joint ventures	149		323			306		534
Other limited partnership interests	120		250			166		465
Cash, cash equivalents and short-term investments	43		37			83		72
Operating joint ventures	11		8			23		16
Other	51		30			92		152
Subtotal	4,979		5,309			9,928		10,391
Less: Investment expenses	285		313			581		615
Subtotal, net	4,694		4,996			9,347		9,776
FVO and trading securities — FVO contractholder-directed unit-linked investments (1)	191		(55		)	94		622
FVO CSEs — interest income:
Commercial mortgage loans	2		5			5		9
Securities	—		1			—		1
Subtotal	193		(49		)	99		632
Net investment income	$	4,887	$	4,947		$	9,446	$	10,408

__________________


(1)	Changes in estimated fair value subsequent to purchase for securities still held as of the end of the respective periods included in net investment income were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(In millions)
Actively traded and FVO general account securities	$	(1	)	$	(38	)	$	(1	)	$	(40	)
FVO contractholder-directed unit-linked investments	$	80		$	(288	)	$	(120	)	$	261

The components of net investment gains (losses)

The components of net investment gains (losses) were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(In millions)
Total gains (losses) on fixed maturity securities:
Total OTTI losses recognized — by sector and industry:
U.S. and foreign corporate securities — by industry:
Consumer	$	—		$	—		$	—		$	(3	)
Industrial	(8		)	—			(79		)	(2		)
Communications	—			—			(3		)	—
Total U.S. and foreign corporate securities	(8		)	—			(82		)	(5		)
RMBS	(4		)	(2		)	(8		)	(15		)
ABS	(2		)	—			(2		)	—
OTTI losses on fixed maturity securities recognized in earnings	(14		)	(2		)	(92		)	(20		)
Fixed maturity securities — net gains (losses) on sales and disposals	165			117			263			268
Total gains (losses) on fixed maturity securities	151			115			171			248
Total gains (losses) on equity securities:
Total OTTI losses recognized — by sector:
Common stock	(16		)	(9		)	(67		)	(9		)
OTTI losses on equity securities recognized in earnings	(16		)	(9		)	(67		)	(9		)
Equity securities — net gains (losses) on sales and disposals	13			17			19			25
Total gains (losses) on equity securities	(3		)	8			(48		)	16
Mortgage loans	(98		)	(9		)	(162		)	(52		)
Real estate and real estate joint ventures	45			(33		)	47			(6		)
Other limited partnership interests	(14		)	(9		)	(41		)	7
Other	(57		)	(27		)	(75		)	(4		)
Subtotal	24			45			(108		)	209
FVO CSEs:
Commercial mortgage loans	(1		)	1			—			(2		)
Securities	—			—			1			—
Long-term debt — related to commercial mortgage loans	—			1			—			2
Non-investment portfolio gains (losses)	243			(180		)	388			(56		)
Subtotal	242			(178		)	389			(56		)
Total net investment gains (losses)	$	266		$	(133	)	$	281		$	153

Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains and losses

Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains (losses) were as shown in the table below.



	Three Months Ended June 30,
	2016			2015			2016			2015
	Fixed Maturity Securities						Equity Securities
	(In millions)
Proceeds	$	26,267		$	29,321		$	28		$	103
Gross investment gains	$	283		$	338		$	14		$	20
Gross investment losses	(118		)	(221		)	(1		)	(3		)
OTTI losses	(14		)	(2		)	(16		)	(9		)
Net investment gains (losses)	$	151		$	115		$	(3	)	$	8



	Six Months Ended June 30,
	2016			2015			2016			2015
	Fixed Maturity Securities						Equity Securities
	(In millions)
Proceeds	$	58,261		$	59,327		$	87		$	156
Gross investment gains	$	715		$	676		$	24		$	35
Gross investment losses	(452		)	(408		)	(5		)	(10		)
OTTI losses	(92		)	(20		)	(67		)	(9		)
Net investment gains (losses)	$	171		$	248		$	(48	)	$	16

Rollforward of the Cumulative Credit Loss Component of OTTI income (loss)

The table below presents a rollforward of the cumulative credit loss component of OTTI loss recognized in earnings on fixed maturity securities still held for which a portion of the OTTI loss was recognized in other comprehensive income (loss) (“OCI”):



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(In millions)
Balance, beginning of period	$	270		$	357		$	277		$	357
Additions:
Initial impairments — credit loss OTTI on securities not previously impaired	—			—			—			2
Additional impairments — credit loss OTTI on securities previously impaired	6			2			8			13
Reductions:
Sales (maturities, pay downs or prepayments) of securities previously impaired as credit loss OTTI	(17		)	(78		)	(26		)	(91		)
Securities impaired to net present value of expected future cash flows	(1		)	—			(1		)	—
Increase in cash flows — accretion of previous credit loss OTTI	—			(1		)	—			(1		)
Balance, end of period	$	258		$	280		$	258		$	280

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Schedule of Variable Interest Entities [Table Text Block]

Creditors or beneficial interest holders of VIEs where the Company is the primary beneficiary have no recourse to the general credit of the Company, as the Company’s obligation to the VIEs is limited to the amount of its committed investment.

The following table presents the total assets and total liabilities relating to VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated at June 30, 2016 and December 31, 2015.



	June 30, 2016				December 31, 2015
	Total Assets		Total Liabilities		Total Assets		Total Liabilities
	(In millions)
MRSC (collateral financing arrangement (primarily securities)) (1)	$	3,559	$	—	$	3,374	$	—
Operating joint venture (2)	—		—		2,465		2,079
CSEs (assets (primarily loans) and liabilities (primarily debt)) (3)	172		47		186		62
Other investments (4)	67		—		76		—
Total	$	3,798	$	47	$	6,101	$	2,141

__________________


(1)	See Note 13 of the Notes to the Consolidated Financial Statements included in the 2015 Annual Report for a description of the MetLife Reinsurance Company of South Carolina (“MRSC”) collateral financing arrangement.

(2)

Following a change in the foreign investment law in India, the Company no longer consolidated its India operating joint venture, effective January 1, 2016. Assets of the operating joint venture are primarily fixed maturity securities and separate account assets. Liabilities of the operating joint venture are primarily future policy benefits, other policy-related balances and separate account liabilities.

(3)

The Company consolidates entities that are structured as CMBS and as collateralized debt obligations. The assets of these entities can only be used to settle their respective liabilities, and under no circumstances is the Company liable for any principal or interest shortfalls should any arise. The Company’s exposure was limited to that of its remaining investment in these entities of $106 million and $105 million at estimated fair value at June 30, 2016 and December 31, 2015, respectively. The long-term debt bears interest primarily at fixed rates ranging from 2.25% to 5.57%, payable primarily on a monthly basis. Interest expense related to these obligations, included in other expenses, was $2 million and $3 million for the three months and six months ended June 30, 2016, respectively, and $1 million and $2 million for the three months and six months ended June 30, 2015, respectively.


(4)	Other investments is primarily comprised of other invested assets and other limited partnership interests.

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Schedule of Variable Interest Entities [Table Text Block]

The carrying amount and maximum exposure to loss relating to VIEs in which the Company holds a significant variable interest but is not the primary beneficiary and which have not been consolidated were as follows at:



	June 30, 2016				December 31, 2015
	Carrying Amount		Maximum Exposure to Loss (1)		Carrying Amount		Maximum Exposure to Loss (1)
	(In millions)
Fixed maturity securities AFS:
Structured Securities (2)	$	74,273	$	74,273	$	65,824	$	65,824
U.S. and foreign corporate	3,173		3,173		3,261		3,261
Other limited partnership interests	6,267		10,470		5,186		7,074
Other invested assets	2,131		2,747		1,604		2,161
FVO and trading securities	546		546		586		586
Real estate joint ventures	118		148		65		82
Other (3)	117		117		71		71
Total	$	86,625	$	91,474	$	76,597	$	79,059

__________________

(1)

The maximum exposure to loss relating to fixed maturity securities AFS, FVO and trading securities and equity securities AFS is equal to their carrying amounts or the carrying amounts of retained interests. The maximum exposure to loss relating to other limited partnership interests, mortgage loans and real estate joint ventures is equal to the carrying amounts plus any unfunded commitments. For certain of its investments in other invested assets, the Company’s return is in the form of income tax credits which are guaranteed by creditworthy third parties. For such investments, the maximum exposure to loss is equal to the carrying amounts plus any unfunded commitments, reduced by income tax credits guaranteed by third parties of $162 million and $179 million at June 30, 2016 and December 31, 2015, respectively. Such a maximum loss would be expected to occur only upon bankruptcy of the issuer or investee.


(2)	For these variable interests, the Company’s involvement is limited to that of a passive investor in mortgage-backed or asset-backed securities issued by trusts that do not have substantial equity.


(3)	Other is comprised of mortgage loans, non-redeemable preferred stock and a loan receivable.

Commercial

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of commercial mortgage loans was as follows at:



	Recorded Investment										Estimated Fair Value		% of Total
	Debt Service Coverage Ratios								% of Total
	> 1.20x		1.00x - 1.20x		< 1.00x		Total		% of Total
	(Dollars in millions)
June 30, 2016
Loan-to-value ratios:
Less than 65%	$	39,346	$	1,095	$	670	$	41,111	91.0	%	$	43,055	91.6	%
65% to 75%	3,330		76		171		3,577		7.9		3,627		7.7
76% to 80%	26		—		2		28		0.1		25		0.1
Greater than 80%	384		53		12		449		1.0		295		0.6
Total	$	43,086	$	1,224	$	855	$	45,165	100	%	$	47,002	100	%
December 31, 2015
Loan-to-value ratios:
Less than 65%	$	38,163	$	1,063	$	544	$	39,770	90.4	%	$	40,921	90.7	%
65% to 75%	3,270		138		76		3,484		7.9		3,451		7.7
76% to 80%	—		—		—		—		—		—		—
Greater than 80%	381		140		237		758		1.7		732		1.6
Total	$	41,814	$	1,341	$	857	$	44,012	100.0	%	$	45,104	100.0	%

Agricultural

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of agricultural mortgage loans was as follows at:



	June 30, 2016				December 31, 2015
	Recorded Investment		% of Total		Recorded Investment		% of Total
	(Dollars in millions)
Loan-to-value ratios:
Less than 65%	$	12,711	94.6	%	$	12,399	94.0	%
65% to 75%	656		4.9		710		5.4
76% to 80%	20		0.1		21		0.2
Greater than 80%	47		0.4		58		0.4
Total	$	13,434	100.0	%	$	13,188	100.0	%

Residential

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of residential mortgage loans was as follows at:



	June 30, 2016				December 31, 2015
	Recorded Investment		% of Total		Recorded Investment		% of Total
	(Dollars in millions)
Performance indicators:
Performing	$	10,326	96.9	%	$	9,408	96.7	%
Nonperforming	333		3.1		326		3.3
Total	$	10,659	100.0	%	$	9,734	100.0	%