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Held-to-Maturity Securities (Tables)
 12 Months Ended
Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]  
Major Security Types
HTM securities were as follows (dollars in millions):
 
December 31, 2019
 
Amortized
Cost1
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Non-mortgage-backed securities
 
 
 
 
 
 
 
GSE and Tennessee Valley Authority obligations
$
384

 
$
72

 
$
—

 
$
456

State or local housing agency obligations
221

 
1

 
(1
)
 
221

Total non-mortgage-backed securities
605

 
73

 
(1
)
 
677

Mortgage-backed securities
 
 
 
 
 
 
 
U.S. obligations single-family2
5

 
—

 
—

 
5

U.S. obligations commercial2
1

 
—

 
—

 
1

GSE single-family
1,752

 
4

 
(7
)
 
1,749

Private-label
7

 
—

 
—

 
7

Total mortgage-backed securities
1,765

 
4

 
(7
)
 
1,762

Total
$
2,370

 
$
77

 
$
(8
)
 
$
2,439


 
December 31, 2018
 
Amortized
Cost1
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Non-mortgage-backed securities
 
 
 
 
 
 
 
GSE and Tennessee Valley Authority obligations
$
389

 
$
48

 
$
(2
)
 
$
435

State or local housing agency obligations
391

 
1

 
(1
)
 
391

Total non-mortgage-backed securities
780

 
49

 
(3
)
 
826

Mortgage-backed securities
 
 
 
 
 
 
 
U.S. obligations single-family2
9

 
—

 
—

 
9

U.S. obligations commercial2
1

 
—

 
—

 
1

GSE single-family
2,192

 
4

 
(21
)
 
2,175

Private-label
10

 
—

 
—

 
10

Total mortgage-backed securities
2,212

 
4

 
(21
)
 
2,195

Total
$
2,992

 
$
53

 
$
(24
)
 
$
3,021


1
Amortized cost includes adjustments made to the cost basis of an investment for accretion or amortization.

2
Represents investment securities backed by the full faith and credit of the U.S. Government.
Contractual Maturity
The following table summarizes AFS securities by contractual maturity. Expected maturities of some securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees (dollars in millions):
 
 
December 31, 2019
 
December 31, 2018
Year of Contractual Maturity
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Non-mortgage-backed securities
 
 
 
 
 
 
 
 
Due in one year or less
 
$
92

 
$
92

 
$
74

 
$
74

Due after one year through five years
 
2,099

 
2,110

 
1,314

 
1,323

Due after five years through ten years
 
1,294

 
1,302

 
2,497

 
2,506

Due after ten years
 
708

 
724

 
808

 
826

Total non-mortgage-backed securities
 
4,193

 
4,228

 
4,693

 
4,729

Mortgage-backed securities
 
12,410

 
12,423

 
14,239

 
14,290

Total
 
$
16,603

 
$
16,651

 
$
18,932

 
$
19,019
Held-to-Maturity Securities [Member]  
Schedule of Held-to-maturity Securities [Line Items]  
Unrealized Losses
The following tables summarize HTM securities with unrealized losses by major security type and the length of time that individual securities have been in a continuous unrealized loss position (dollars in millions). In cases where the gross unrealized losses for an investment category are less than $1 million, the losses are not reported.
 
December 31, 2019
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Non-mortgage-backed securities
 
 
 
 
 
 
 
 
 
 
 
State or local housing agency obligations
$
—

 
$
—

 
$
150

 
$
(1
)
 
$
150

 
$
(1
)
Total non-mortgage-backed securities
—

 
—

 
150

 
(1
)
 
150

 
(1
)
Mortgage-backed securities
 
 
 
 
 
 
 
 
 
 
 
U.S. obligations single-family1
5

 
—

 
—

 
—

 
5

 
—

GSE single-family
392

 
(1
)
 
1,007

 
(6
)
 
1,399

 
(7
)
Private-label
—

 
—

 
4

 
—

 
4

 
—

Total mortgage-backed securities
397

 
(1
)
 
1,011

 
(6
)
 
1,408

 
(7
)
Total
$
397

 
$
(1
)
 
$
1,161

 
$
(7
)
 
$
1,558

 
$
(8
)

 
December 31, 2018
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Non-mortgage-backed securities
 
 
 
 
 
 
 
 
 
 
 
GSE and Tennessee Valley Authority obligations
$
69

 
$
(2
)
 
$
—

 
$
—

 
$
69

 
$
(2
)
State or local housing agency obligations
50

 
—

 
152

 
(1
)
 
202

 
(1
)
Total non-mortgage-backed securities
119

 
(2
)
 
152

 
(1
)
 
271

 
(3
)
Mortgage-backed securities
 
 
 
 
 
 
 
 
 
 
 
U.S. obligations single-family1
3

 
—

 
—

 
—

 
3

 
—

U.S. obligations commercial1
—

 
—

 
1

 
—

 
1

 
—

GSE single-family
611

 
(1
)
 
1,008

 
(20
)
 
1,619

 
(21
)
Private-label
—

 
—

 
6

 
—

 
6

 
—

Total mortgage-backed securities
614

 
(1
)
 
1,015

 
(20
)
 
1,629

 
(21
)
Total
$
733

 
$
(3
)
 
$
1,167

 
$
(21
)
 
$
1,900

 
$
(24
)


1
Represents investment securities backed by the full faith and credit of the U.S. Government.
Contractual Maturity
The following table summarizes HTM securities by contractual maturity. Expected maturities of some securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees (dollars in millions):
 
 
December 31, 2019
 
December 31, 2018
Year of Contractual Maturity
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Non-mortgage-backed securities
 
 
 
 
 
 
 
 
Due in one year or less
 
$
—

 
$
—

 
$
9

 
$
9

Due after one year through five years
 
—

 
—

 
64

 
65

Due after five years through ten years
 
412

 
446

 
332

 
353

Due after ten years
 
193

 
231

 
375

 
399

Total non-mortgage-backed securities
 
605

 
677

 
780

 
826

Mortgage-backed securities
 
1,765

 
1,762

 
2,212

 
2,195

Total
 
$
2,370

 
$
2,439

 
$
2,992

 
$
3,021