Investment Securities (Tables)

12 Months Ended

Dec. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Investments

	2013								2012
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
December 31 (In millions)	cost		gains		losses		fair value		cost		gains		losses		fair value
Debt
U.S. corporate	$	19,600	$	2,323	$	(217)	$	21,706	$	20,233	$	4,201	$	(302)	$	24,132
State and municipal		4,245		235		(191)		4,289		4,084		575		(113)		4,546
Residential
mortgage-backed(a)		1,819		139		(48)		1,910		2,198		183		(119)		2,262
Commercial
mortgage-backed		2,929		188		(82)		3,035		2,930		259		(95)		3,094
Asset-backed		7,373		60		(46)		7,387		5,784		31		(77)		5,738
Corporate – non-U.S.		1,741		103		(86)		1,758		2,391		150		(126)		2,415
Government – non-U.S.		2,336		81		(7)		2,410		1,617		149		(3)		1,763
U.S. government and
federal agency		752		45		(27)		770		3,462		103		–		3,565
Retained interests		64		8		–		72		76		7		–		83
Equity
Available-for-sale		203		51		(3)		251		513		86		(3)		596
Trading		74		–		–		74		245		0		–		245
Total	$	41,136	$	3,233	$	(707)	$	43,662	$	43,533	$	5,744	$	(838)	$	48,439

• Substantially collateralized by U.S. mortgages. Of our total RMBS portfolio at December 31, 2013, $1,224 million relates to securities issued by government-sponsored entities and $686 million relates to securities of private label issuers. Securities issued by private label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions.

Schedule of investments, by type and length in continuous loss position

	In loss position for
	Less than 12 months					12 months or more
			Gross					Gross
	Estimated		unrealized			Estimated		unrealized
December 31 (In millions)	fair value		losses		(a)	fair value		losses		(a)
2013
Debt
U.S. corporate	$	2,170	$	(122)		$	598	$	(95)
State and municipal		1,076		(82)			367		(109)
Residential mortgage-backed		232		(11)			430		(37)
Commercial mortgage-backed		396		(24)			780		(58)
Asset-backed		112		(2)			359		(44)
Corporate – non-U.S.		96		(3)			454		(83)
Government – non-U.S.		1,479		(6)			42		(1)
U.S. government and federal agency		229		(27)			254		-
Retained interests		2		-			-		-
Equity		31		(3)			-		-
Total	$	5,823	$	(280)		$	3,284	$	(427)
2012
Debt
U.S. corporate	$	434	$	(7)		$	813	$	(295)
State and municipal		146		(2)			326		(111)
Residential mortgage-backed		98		(1)			691		(118)
Commercial mortgage-backed		37		0			979		(95)
Asset-backed		18		(1)			658		(76)
Corporate – non-U.S.		167		(8)			602		(118)
Government – non-U.S.		201		(1)			37		(2)
U.S. government and federal agency		-		–			–		–
Retained interests		3		–			–		–
Equity		26		(3)			–		–
Total	$	1,130	$	(23)		$	4,106	$	(815)

• Includes gross unrealized losses at December 31, 2013 of $(99) million related to securities that had other-than-temporary impairmentspreviously recognized.

Schedule of contractual maturities

	Amortized		Estimated
(In millions)	cost		fair value
Due
Within one year	$	2,366	$	2,374
After one year through five years		3,300		3,502
After five years through ten years		4,984		5,156
After ten years		18,024		19,901

Supplemental gross realized gains losses on available-for-sale investment securities

(In millions)	2013		2012		2011
Gains	$	239	$	177	$	205
Losses, including impairments		(762)		(211)		(402)
Net	$	(523)	$	(34)	$	(197)