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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:
Fair Value Measurements Using
September 30, 2025 ($ in millions)Level 1Level 2Level 3Total Fair Value
Assets:
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$2,105 — — 2,105 
Mortgage-backed securities:
Agency residential mortgage-backed securities— 7,535 — 7,535 
Agency commercial mortgage-backed securities— 20,564 — 20,564 
Non-agency commercial mortgage-backed securities— 2,947 — 2,947 
Asset-backed securities and other debt securities— 2,442 — 2,442 
Available-for-sale debt and other securities(a)
2,105 33,488 — 35,593 
Trading debt securities:
U.S. Treasury and federal agencies securities558 18 — 576 
Obligations of states and political subdivisions securities— 58 — 58 
Agency residential mortgage-backed securities— 39 — 39 
Asset-backed securities and other debt securities— 593 — 593 
Trading debt securities558 708 — 1,266 
Equity securities270 17 — 287 
Residential mortgage loans held for sale— 565 — 565 
Residential mortgage loans(b)
— — 107 107 
Servicing rights— — 1,601 1,601 
Derivative assets:
Interest rate contracts3 491 8 502 
Foreign exchange contracts— 668 — 668 
Commodity contracts164 503 — 667 
Derivative assets(c)
167 1,662 8 1,837 
Total assets$3,100 36,440 1,716 41,256 
Liabilities:
Derivative liabilities:
Interest rate contracts$5 595 5 605 
Foreign exchange contracts— 628 — 628 
Equity contracts— — 150 150 
Commodity contracts54 618 — 672 
Derivative liabilities(d)
59 1,841 155 2,055 
Short positions:
U.S. Treasury and federal agencies securities113 1 — 114 
Asset-backed securities and other debt securities— 276 — 276 
Equity securities29 — — 29 
Short positions(d)
142 277 — 419 
Total liabilities$201 2,118 155 2,474 
(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $362, $504 and $2, respectively, at September 30, 2025.
(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)Included in other assets in the Condensed Consolidated Balance Sheets.
(d)Included in other liabilities in the Condensed Consolidated Balance Sheets.
Fair Value Measurements Using
December 31, 2024 ($ in millions)Level 1Level 2Level 3Total Fair Value
Assets:
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,360 — — 4,360 
Mortgage-backed securities:
Agency residential mortgage-backed securities— 5,681 — 5,681 
Agency commercial mortgage-backed securities— 20,832 — 20,832 
Non-agency commercial mortgage-backed securities— 4,167 — 4,167 
Asset-backed securities and other debt securities— 3,729 — 3,729 
Available-for-sale debt and other securities(a)
4,360 34,409 — 38,769 
Trading debt securities:
U.S. Treasury and federal agencies securities591 35 — 626 
Obligations of states and political subdivisions securities— 120 — 120 
Agency residential mortgage-backed securities— 10 — 10 
Asset-backed securities and other debt securities— 429 — 429 
Trading debt securities591 594 — 1,185 
Equity securities307 34 — 341 
Residential mortgage loans held for sale— 574 — 574 
Residential mortgage loans(b)
— — 108 108 
Servicing rights— — 1,704 1,704 
Derivative assets:
Interest rate contracts7 721 2 730 
Foreign exchange contracts— 1,167 — 1,167 
Commodity contracts75 500 — 575 
Derivative assets(c)
82 2,388 2 2,472 
Total assets$5,340 37,999 1,814 45,153 
Liabilities:
Derivative liabilities:
Interest rate contracts$— 939 5 944 
Foreign exchange contracts— 1,120 — 1,120 
Equity contracts— — 170 170 
Commodity contracts57 507 — 564 
Derivative liabilities(d)
57 2,566 175 2,798 
Short positions:
U.S. Treasury and federal agencies securities139 — — 139 
Asset-backed securities and other debt securities— 156 — 156 
Equity securities21 — — 21 
Short positions(d)
160 156 — 316 
Total liabilities$217 2,722 175 3,114 
(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $276, $500 and $2, respectively, at December 31, 2024.
(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)Included in other assets in the Condensed Consolidated Balance Sheets.
(d)Included in other liabilities in the Condensed Consolidated Balance Sheets.
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs
The following tables are a reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the three months ended September 30, 2025 ($ in millions)
Residential
Mortgage
Loans		Servicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total
Fair Value
Balance, beginning of period$107 1,629 2 (145)1,593 
Total (losses) gains (realized/unrealized):(b)
 Included in earnings2 (40)19 (18)(37)
Purchases/originations— 12 — — 12 
Settlements(3)— (18)13 (8)
Transfers into Level 3(c)
1 — — — 1 
Balance, end of period$107 1,601 3 (150)1,561 
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at September 30, 2025
$2 (19)8 (18)(27)
(a)Net interest rate derivatives include derivative assets and liabilities of $8 and $5, respectively, as of September 30, 2025.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at September 30, 2025.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the three months ended September 30, 2024 ($ in millions)
Residential
Mortgage
Loans		Servicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total
Fair Value
Balance, beginning of period$109 1,731 — (164)1,676 
Total (losses) gains (realized/unrealized):(b)
 Included in earnings7 (90)18 (47)(112)
Purchases/originations— 15 — — 15 
Settlements(3)— (16)15 (4)
Transfers into Level 3(c)
1 — — — 1 
Balance, end of period$114 1,656 2 (196)1,576 
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at September 30, 2024
$7 (66)6 (47)(100)
(a)Net interest rate derivatives include derivative assets and liabilities of $7 and $5, respectively, as of September 30, 2024.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at September 30, 2024.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the nine months ended September 30, 2025 ($ in millions)
Residential
Mortgage
Loans		Servicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total
Fair Value
Balance, beginning of period$108 1,704 (3)(170)1,639 
Total (losses) gains (realized/unrealized):(b)
 Included in earnings5 (139)47 (37)(124)
Purchases/originations— 36 (1)— 35 
Settlements(9)— (40)57 8 
Transfers into Level 3(c)
3 — — — 3 
Balance, end of period$107 1,601 3 (150)1,561 
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at September 30, 2025
$5 (76)10 (37)(98)
(a)Net interest rate derivatives include derivative assets and liabilities of $8 and $5, respectively, as of September 30, 2025.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at September 30, 2025.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the nine months ended September 30, 2024 ($ in millions)
Residential
Mortgage
Loans		Servicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total
Fair Value
Balance, beginning of period$116 1,737 — (168)1,685 
Total (losses) gains (realized/unrealized):(b)
 Included in earnings4 (112)38 (87)(157)
Purchases/originations— 36 (1)— 35 
Sales— (5)— — (5)
Settlements(9)— (35)59 15 
Transfers into Level 3(c)
3 — — — 3 
Balance, end of period$114 1,656 2 (196)1,576 
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at September 30, 2024
$4 (44)7 (87)(120)
(a)Net interest rate derivatives include derivative assets and liabilities of $7 and $5, respectively, as of September 30, 2024.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at September 30, 2024.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.
Total Gains and Losses Included in Earnings for Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs
The total losses and gains included in earnings for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were recorded in the Condensed Consolidated Statements of Income as follows:
For the three months ended
September 30,		For the nine months ended
September 30,
($ in millions)2025202420252024
Mortgage banking net revenue$(19)(66)(89)(71)
Capital markets fees— 1 2 2 
Other noninterest income(18)(47)(37)(88)
Total losses$(37)(112)(124)(157)

The total losses and gains included in earnings attributable to changes in unrealized gains and losses related to Level 3 assets and liabilities still held at September 30, 2025 and 2024 were recorded in the Condensed Consolidated Statements of Income as follows:
For the three months ended
September 30,		For the nine months ended
September 30,
($ in millions)2025202420252024
Mortgage banking net revenue$(9)(54)(63)(34)
Capital markets fees— 1 2 2 
Other noninterest income(18)(47)(37)(88)
Total losses$(27)(100)(98)(120)
Quantitative Information About Significant Unobservable Level 3 Fair Value Measurement Input, Recurring
The following tables present information as of September 30, 2025 and 2024 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a recurring basis:
As of September 30, 2025 ($ in millions)
Financial InstrumentFair ValueValuation
Technique		Significant
Unobservable Inputs		Range of Inputs
Weighted-Average
Residential mortgage loans$107 Loss rate modelInterest rate risk factor(52.0)-6.4%(10.1)%
(a)
Credit risk factor— -0.7%0.1 %
(a)
Servicing rights1,601 DCFPrepayment speed— -100.0%
(Fixed)
6.9 %
(b)
(Adjustable)
18.9 %
(b)
OAS (bps)335 -1,827
(Fixed)
441
(b)
(Adjustable)
714
(b)
IRLCs, net8 DCFLoan closing rates18.9 -96.0%81.9 %
(c)
Swap associated with the sale of Visa, Inc. Class B Shares(150)DCFTiming of the resolution
   of the Covered Litigation		Q4 2027-Q1 2029Q2 2028
(d)
(a)Unobservable inputs were weighted by the relative carrying value of the instruments.
(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.
(c)Unobservable inputs were weighted by the relative notional amount of the instruments.
(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.

As of September 30, 2024 ($ in millions)
Financial InstrumentFair ValueValuation
Technique		Significant
Unobservable Inputs		Range of InputsWeighted-Average
Residential mortgage loans$114 Loss rate modelInterest rate risk factor(52.3)-4.3 %(9.3)%
(a)
Credit risk factor— -0.5 %0.1 %
(a)
Servicing rights1,656 DCFPrepayment speed— -100.0 %(Fixed)6.7 %
(b)
(Adjustable)22.0 %
(b)
OAS (bps)420-1,833(Fixed)470
(b)
(Adjustable)696
(b)
IRLCs, net6 DCFLoan closing rates18.5 -96.0 %78.7 %
(c)
Swap associated with the sale of Visa, Inc. Class B Shares
(196)DCFTiming of the resolution
   of the Covered Litigation		Q4 2026-Q1 2028Q2 2027
(d)
(a)Unobservable inputs were weighted by the relative carrying value of the instruments.
(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.
(c)Unobservable inputs were weighted by the relative notional amount of the instruments.
(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of September 30, 2025 and 2024, and for which a nonrecurring fair value adjustment was recorded during the three and nine months ended September 30, 2025 and 2024, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period.
Fair Value Measurements UsingTotal (Losses) Gains
As of September 30, 2025 ($ in millions)Level 1Level 2Level 3Total
For the three months ended September 30, 2025
For the nine
months ended September 30, 2025
Commercial loans and leases$— — 171 171 (246)(450)
Consumer and residential mortgage loans— — 216 216 (2)(9)
OREO— — 4 4 6 7 
Bank premises and equipment— — 1 1 (1)(1)
Private equity investments— 13 — 13 — 4 
Total$— 13 392 405 (243)(449)
Fair Value Measurements UsingTotal (Losses) Gains
As of September 30, 2024 ($ in millions)Level 1Level 2Level 3Total
For the three months ended
 September 30, 2024
For the nine
months ended
September 30, 2024
Commercial loans held for sale$— — 47 47 (1)(1)
Commercial loans and leases— — 125 125 (73)(177)
Consumer and residential mortgage loans— — 208 208 (7)(10)
OREO— — 6 6 — (1)
Bank premises and equipment— — 9 9 — — 
Private equity investments— 3 — 3 2 11 
Total$— 3 395 398 (79)(178)
Quantitative Information About Significant Unobservable Level 3 Fair Value Measurement Input, Nonrecurring
The following tables present information as of September 30, 2025 and 2024 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a nonrecurring basis:
As of September 30, 2025 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable InputsRanges of
Inputs		Weighted-Average
Commercial loans and leases$171 Appraised valueCollateral valueNMNM
Consumer and residential mortgage loans216 Appraised valueCollateral valueNMNM
OREO4 Appraised valueAppraised valueNMNM
Bank premises and equipment1 Appraised valueAppraised valueNMNM
Private equity investments— Comparable company analysisMarket comparable transactionsNMNM
As of September 30, 2024 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable InputsRanges of
Inputs		Weighted-Average
Commercial loans held for sale$47 Comparable company analysisMarket comparable transactionsNMNM
Commercial loans and leases125 Appraised valueCollateral valueNMNM
Consumer and residential mortgage loans208 Appraised valueCollateral valueNMNM
OREO6 Appraised valueAppraised valueNMNM
Bank premises and equipment9 Appraised valueAppraised valueNMNM
Private equity investments— Comparable company analysisMarket comparable transactionsNMNM
Difference Between the Fair Value and the Unpaid Principal Balance for Loans
The following table summarizes the fair value and the unpaid principal balance for residential mortgage loans measured at fair value as of:
September 30, 2025 ($ in millions)Aggregate
Fair Value		Aggregate Unpaid
Principal Balance
Residential mortgage loans measured at fair value$672 668 
Past due loans of 30-89 days2 2 
Past due loans of 90 days or more1 1 
Nonaccrual loans3 3 
December 31, 2024
Residential mortgage loans measured at fair value$682 693 
Past due loans of 30-89 days1 1 
Past due loans of 90 days or more1 1 
Nonaccrual loans2 2 
Carrying Amounts and Estimated Fair Values for Certain Financial Instruments
The following tables summarize the carrying amounts and estimated fair values for certain financial instruments, excluding financial instruments measured at fair value on a recurring basis:
Net Carrying
Amount		Fair Value Measurements UsingTotal
Fair Value
As of September 30, 2025 ($ in millions)Level 1Level 2Level 3
Financial assets:
Cash and due from banks
$2,901 2,901 — — 2,901 
Other short-term investments17,215 17,215 — — 17,215 
Other securities868 — 868 — 868 
Held-to-maturity securities11,498 2,436 9,068 2 11,506 
Loans and leases held for sale11 — — 11 11 
Portfolio loans and leases:
Commercial loans and leases73,241 — — 74,325 74,325 
Consumer and residential mortgage loans47,517 — — 47,142 47,142 
Total portfolio loans and leases, net$120,758 — — 121,467 121,467 
Financial liabilities:
Deposits$166,569 — 166,682 — 166,682 
Federal funds purchased183 183 — — 183 
Other short-term borrowings5,077 — 5,079 — 5,079 
Long-term debt13,660 8,502 5,590 — 14,092 
Net Carrying
Amount		Fair Value Measurements UsingTotal
Fair Value
As of December 31, 2024 ($ in millions)Level 1Level 2Level 3
Financial assets:
Cash and due from banks$3,014 3,014 — — 3,014 
Other short-term investments17,120 17,120 — — 17,120 
Other securities778 — 778 — 778 
Held-to-maturity securities11,278 2,344 8,619 2 10,965 
Loans and leases held for sale66 — — 66 66 
Portfolio loans and leases:
Commercial loans and leases72,139 — — 72,319 72,319 
Consumer and residential mortgage loans45,192 — — 42,155 42,155 
Total portfolio loans and leases, net$117,331 — — 114,474 114,474 
Financial liabilities:
Deposits$167,252 — 167,353 — 167,353 
Federal funds purchased204 204 — — 204 
Other short-term borrowings4,450 — 4,459 — 4,459 
Long-term debt14,440 3,753 10,835 — 14,588