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Investments (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities
The Company's other short-term investments and investment securities consist of the following (dollars in millions):
 
June 30,
2020
 
December 31,
2019
U.S. Treasury bills(1)
$
2,549

 
$
—

Total other short-term investments
$
2,549

 
$
—

 
 
 
 
U.S. Treasury securities(2)
$
9,838

 
$
9,906

Residential mortgage-backed securities - Agency(3)
647

 
689

Total investment securities
$
10,485

 
$
10,595

 
 
 
 

(1)
Includes U.S. Treasury bills with maturity dates greater than 90 days but less than one year at the time of acquisition.
(2)
Includes $159 million and $121 million of U.S. Treasury securities pledged as swap collateral as of June 30, 2020 and December 31, 2019, respectively.
(3)
Consists of residential mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae.
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value
The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale and held-to-maturity investment securities are as follows (dollars in millions):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
At June 30, 2020
 
 
 
 
 
 
 
Available-for-Sale Investment Securities(1)
 
 
 
 
 
 
 
U.S. Treasury securities
$
9,385

 
$
453

 
$
—

 
$
9,838

Residential mortgage-backed securities - Agency
349

 
14

 
—

 
363

Total available-for-sale investment securities
$
9,734

 
$
467

 
$
—

 
$
10,201

Held-to-Maturity Investment Securities(2)
 
 
 
 
 
 
 
Residential mortgage-backed securities - Agency(3)
$
284

 
$
9

 
$
—

 
$
293

Total held-to-maturity investment securities
$
284

 
$
9

 
$
—

 
$
293

 
 
 
 
 
 
 
 
At December 31, 2019
 
 
 
 
 
 
 
Available-for-Sale Investment Securities(1)
 
 
 
 
 
 
 
U.S. Treasury securities
$
9,759

 
$
155

 
$
(8
)
 
$
9,906

Residential mortgage-backed securities - Agency
414

 
3

 
—

 
417

Total available-for-sale investment securities
$
10,173

 
$
158

 
$
(8
)
 
$
10,323

Held-to-Maturity Investment Securities(2)
 
 
 
 
 
 
 
Residential mortgage-backed securities - Agency(3) 
$
272

 
$
3

 
$
(1
)
 
$
274

Total held-to-maturity investment securities
$
272

 
$
3

 
$
(1
)
 
$
274

 
 
 
 
 
 
 
 
(1)
Available-for-sale investment securities are reported at fair value.
(2)
Held-to-maturity investment securities are reported at amortized cost.
(3)
Amounts represent residential mortgage-backed securities that were classified as held-to-maturity as they were entered into as a part of the Company's community reinvestment initiatives.
Schedule of Fair Value of Securities in a Continuous Unrealized Loss Position for Less Than 12 Months and More Than 12 Months
The following table provides information about available-for-sale investment securities with aggregate gross unrealized losses and the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in millions):
 
Number of Securities in a Loss Position
 
Less than 12 months
 
More than 12 months
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
At December 31, 2019
 
 
 
 
 
 
 
 
 
Available-for-Sale Investment Securities
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
11

 
$
1,402

 
$
(8
)
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
Schedule of Maturities of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities
Maturities of available-for-sale debt securities and held-to-maturity debt securities are provided in the following table (dollars in millions):
At June 30, 2020
One Year
or
Less
 
After One
Year
Through
Five Years
 
After Five
Years
Through
Ten Years
 
After Ten
Years
 
Total
Available-for-Sale Investment Securities—Amortized Cost
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
1,374

 
$
8,011

 
$
—

 
$
—

 
$
9,385

Residential mortgage-backed securities - Agency(1)
—

 
64

 
285

 
—

 
349

Total available-for-sale investment securities
$
1,374

 
$
8,075

 
$
285

 
$
—

 
$
9,734

Held-to-Maturity Investment Securities—Amortized Cost
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities - Agency(1)
$
—

 
$
—

 
$
—

 
$
284

 
$
284

Total held-to-maturity investment securities
$
—

 
$
—

 
$
—

 
$
284

 
$
284

Available-for-Sale Investment Securities—Fair Values
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
1,391

 
$
8,447

 
$
—

 
$
—

 
$
9,838

Residential mortgage-backed securities - Agency(1)
—

 
66

 
297

 
—

 
363

Total available-for-sale investment securities
$
1,391

 
$
8,513

 
$
297

 
$
—

 
$
10,201

Held-to-Maturity Investment Securities—Fair Values
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities - Agency(1)
$
—

 
$
—

 
$
—

 
$
293

 
$
293

Total held-to-maturity investment securities
$
—

 
$
—

 
$
—

 
$
293

 
$
293

 
 
 
 
 
 
 
 
 
 

(1)
Maturities of residential mortgage-backed securities are reflective of the contractual maturities of the investment.