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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Asset and Liability Management Derivative Positions
The following table summarizes the asset and liability management derivative positions of the Company:
 March 31, 2025December 31, 2024
 Notional ValueFair ValueNotional ValueFair Value
(Dollars in Millions)AssetsLiabilitiesAssetsLiabilities
Fair value hedges
Interest rate contracts
Receive fixed/pay floating swaps$13,100 $— $— $10,600 $— $— 
Pay fixed/receive floating swaps28,279 — — 29,739 — — 
Cash flow hedges
Interest rate contracts
Receive fixed/pay floating swaps28,500 — — 28,550 — — 
Pay fixed/receive floating swaps1,050 — — — — — 
Net investment hedges
Foreign exchange forward contracts687 1 — 870 7 — 
Other economic hedges
Interest rate contracts
Futures and forwards
Buy4,923 10 7 5,436 8 30 
Sell2,745 1 9 2,711 10 1 
Options
Purchased6,724 176 — 7,810 186 — 
Written2,672 17 54 1,991 8 47 
Receive fixed/pay floating swaps10,443 78 30 9,977 45 23 
Pay fixed/receive floating swaps2,818 — — 2,371 — — 
Foreign exchange forward contracts725 2 1 702 4 4 
Equity contracts288 — 6 293 — 9 
Credit contracts3,298 6 17 3,558 — 29 
Other(a)
1,290 7 67 1,084 7 78 
Total$107,542 $298 $191 $105,692 $275 $221 
(a)Includes derivative liability swap agreements related to the sale of a portion of the Company’s Class B common and preferred shares of Visa Inc. The Visa swap agreements had a total notional value and fair value of $1.0 billion and $67 million at March 31, 2025, respectively, compared to $1.0 billion and $78 million at December 31, 2024, respectively. In addition, includes short-term underwriting purchase and sale commitments with total notional values of $207 million at March 31, 2025.
Summary of Customer-Related Derivative Positions
The following table summarizes the customer-related derivative positions of the Company:
 March 31, 2025December 31, 2024
 Notional
Value		Fair ValueNotional
Value		Fair Value
(Dollars in Millions)AssetsLiabilitiesAssetsLiabilities
Interest rate contracts
Receive fixed/pay floating swaps$404,356 $877 $3,260 $413,841 $462 $4,485 
Pay fixed/receive floating swaps364,577 1,703 279 363,837 2,342 153 
Other(a)
70,207 17 32 72,503 17 34 
Options
Purchased105,399 366 6 96,238 414 2 
Written90,579 18 488 90,572 12 574 
Futures
Buy1,240 — — — — — 
Sell301 — — — — — 
Foreign exchange rate contracts
Forwards, spots and swaps119,520 1,932 1,789 113,718 2,441 2,232 
Options
Purchased790 15 1 497 14 — 
Written790 1 15 497 — 14 
Commodity contracts
Swaps10,972 362 301 8,224 199 180 
Options
Purchased4,953 310 4 3,921 233 2 
Written4,953 2 310 3,921 3 233 
Futures
Buy1 — — 1 — — 
Sell249 49 84 166 25 27 
Equity contracts8 — — — — — 
Credit contracts12,758 — 3 13,670 — 3 
Total$1,191,653 $5,652 $6,572 $1,181,606 $6,162 $7,939 
(a)Primarily represents floating rate interest rate swaps that pay based on differentials between specified interest rate indexes.
Summary of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The table below shows the effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses) reclassified from other comprehensive income (loss) into earnings (net-of-tax):
 Three Months Ended March 31
 Gains (Losses) Recognized in Other Comprehensive Income (Loss)Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings
(Dollars in Millions)2025202420252024
Asset and Liability Management Positions    
Cash flow hedges    
Interest rate contracts$211 $(255)$(45)$(36)
Net investment hedges    
Foreign exchange forward contracts(4)69 — — 
Non-derivative debt instruments(61)34 — — 
Note: The Company does not exclude components from effectiveness testing for cash flow and net investment hedges.
Summary of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The table below shows the effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses) reclassified from other comprehensive income (loss) into earnings (net-of-tax):
 Three Months Ended March 31
 Gains (Losses) Recognized in Other Comprehensive Income (Loss)Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings
(Dollars in Millions)2025202420252024
Asset and Liability Management Positions    
Cash flow hedges    
Interest rate contracts$211 $(255)$(45)$(36)
Net investment hedges    
Foreign exchange forward contracts(4)69 — — 
Non-derivative debt instruments(61)34 — — 
Note: The Company does not exclude components from effectiveness testing for cash flow and net investment hedges.
Summary of Effect of Fair Value and Cash Flow Hedge Accounting on Consolidated Statement of Income
The table below shows the effect of fair value and cash flow hedge accounting on the Consolidated Statement of Income:
 Three Months Ended March 31
 Interest Income Interest Expense
(Dollars in Millions)2025202420252024
Total amount of income and expense line items presented in the Consolidated Statement of Income in which the effects of fair value or cash flow hedges are recorded$7,516 $7,764 $3,424 $3,779 
Asset and Liability Management Positions    
Fair value hedges    
Interest rate contract derivatives(448)468 (106)(57)
Hedged items447 (469)112 57 
Cash flow hedges    
Interest rate contract derivatives(53)(42)7 7 
Note: The Company does not exclude components from effectiveness testing for fair value and cash flow hedges. The Company reclassified losses of $7 million into earnings during both the three months ended March 31, 2025 and 2024, as a result of realized cash flows on discontinued cash flow hedges. No amounts were reclassified into earnings on discontinued cash flow hedges because it is probable the original hedged forecasted cash flows will not occur.
Summary of Cumulative Hedging Adjustments and the Carrying Amount of Assets and Liabilities Designated in Fair Value Hedges
The table below shows cumulative hedging adjustments and the carrying amount of assets and liabilities currently designated in fair value hedges:
 Carrying Amount of the Hedged Assets
and Liabilities		Cumulative Hedging Adjustment
(Dollars in Millions)March 31, 2025December 31, 2024March 31, 2025December 31, 2024
Line Item in the Consolidated Balance Sheet    
Available-for-sale investment securities(a)
$28,033 $29,005 $(1)$(464)
Long-term debt13,210 10,632 150 39 
Note: The table above excludes the cumulative hedging adjustment related to discontinued hedging relationships on available-for-sale investment securities and long-term debt of $(54) million and $(135) million, respectively, at March 31, 2025, compared with $(72) million and $(149) million at December 31, 2024, respectively. The carrying amount of available-for-sale investment securities and long-term debt related to discontinued hedging relationships was $8.1 billion and $14.2 billion, respectively, at March 31, 2025, compared with $6.8 billion and $14.9 billion at December 31, 2024, respectively.
(a)Includes amounts related to available-for-sale investment securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At March 31, 2025, the amortized cost of the closed portfolios used in these hedging relationships was $19.3 billion, of which $11.1 billion was designated as hedged. At March 31, 2025, the cumulative amount of basis adjustments associated with these hedging relationships was $204 million. At December 31, 2024, the amortized cost of the closed portfolios used in these hedging relationships was $17.5 billion, of which $11.6 billion was designated as hedged. At December 31, 2024, the cumulative amount of basis adjustments associated with these hedging relationships was $13 million.
Summary of Gains (Losses) Recognized in Earnings for Other Economic Hedges and Customer-Related Positions
The table below shows the gains (losses) recognized in earnings for other economic hedges and the customer-related positions:
 Three Months Ended
March 31
(Dollars in Millions)Location of Gains (Losses)
Recognized in Earnings		20252024
Asset and Liability Management Positions 
Other economic hedges 
Interest rate contracts 
Futures and forwardsMortgage banking revenue$24 $(12)
Purchased and written optionsMortgage banking revenue30 39 
SwapsMortgage banking revenue/Interest expense56 (86)
Foreign exchange forward contractsOther noninterest income2 4 
Equity contractsCompensation expense(19)— 
Credit contractsCapital markets revenue17 (2)
OtherOther noninterest income— (75)
Customer-Related Positions   
Interest rate contracts   
SwapsCapital markets revenue35 131 
Purchased and written optionsCapital markets revenue12 (47)
FuturesCapital markets revenue1 — 
Foreign exchange rate contracts   
Forwards, spots and swapsCapital markets revenue48 24 
Purchased and written optionsCapital markets revenue1 — 
Commodity contracts   
SwapsCapital markets revenue47 2 
Purchased and written optionsCapital markets revenue(1)2 
FuturesCapital markets revenue(41)— 
Credit contractsCapital markets revenue2 (1)