Fair Value (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements - Recurring Basis [Table Text Block]

	Recurring fair value measurements
December 31, 2012 ($ in millions)	Level 1			Level 2			Level 3			Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	697		$	1,517		$	—		$	2,214
Foreign government	3			300			—			303
Mortgage-backed residential	—			6,906			—			6,906
Asset-backed	—			2,340			—			2,340
Corporate debt securities	—			1,263			—			1,263
Total debt securities	700			12,326			—			13,026
Equity securities (a)	1,152			—			—			1,152
Total available-for-sale securities	1,852			12,326			—			14,178
Mortgage loans held-for-sale, net (b)	—			2,490			—			2,490
Mortgage servicing rights	—			—			952			952
Other assets
Interests retained in financial asset sales	—			—			154			154
Derivative contracts in a receivable position (c)
Interest rate	40			2,170			48			2,258
Foreign currency	—			40			—			40
Total derivative contracts in a receivable position	40			2,210			48			2,298
Collateral placed with counterparties (d)	103			99			—			202
Total assets	$	1,995		$	17,125		$	1,154		$	20,274
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (c)
Interest rate	$	(13	)	$	(2,374	)	$	(1	)	$	(2,388	)
Foreign currency	—			(78		)	(2		)	(80		)
Total derivative contracts in a payable position	(13		)	(2,452		)	(3		)	(2,468		)
Total liabilities	$	(13	)	$	(2,452	)	$	(3	)	$	(2,468	)

(a) Our investment in any one industry did not exceed 21%.

(b) Carried at fair value due to fair value option elections.

(c) Includes derivatives classified as trading.

(d) Represents collateral in the form of investment securities. Cash collateral was excluded.

The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our risk management activities.

	Recurring fair value measurements
March 31, 2013($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	809		$	1,290		$	—	$	2,099
Foreign government	3			303			—		306
Mortgage-backed residential	—			8,815			—		8,815
Asset-backed	—			2,221			—		2,221
Corporate debt securities	—			1,326			—		1,326
Total debt securities	812			13,955			—		14,767
Equity securities (a)	985			—			—		985
Total available-for-sale securities	1,797			13,955			—		15,752
Mortgage loans held-for-sale, net (b)	—			701			—		701
Mortgage servicing rights	—			—			917		917
Other assets
Interests retained in financial asset sales	—			—			139		139
Derivative contracts in a receivable position
Interest rate	31			580			5		616
Foreign currency	—			52			—		52
Total derivative contracts in a receivable position	31			632			5		668
Collateral placed with counterparties (c)	—			308			—		308
Total assets	$	1,828		$	15,596		$	1,061	$	18,485
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate	$	(14	)	$	(369	)	$	—	$	(383	)
Foreign currency	—			(23		)	—		(23		)
Total derivative contracts in a payable position	(14		)	(392		)	—		(406		)
Total liabilities	$	(14	)	$	(392	)	$	—	$	(406	)

(a) Our investment in any one industry did not exceed 20%.

(b) Carried at fair value due to fair value option elections.

(c) Represents collateral in the form of investment securities. Cash collateral was excluded.

Fair Value Measurements - Recurring Fair Value Inputs [Table Text Block]

The following table presents quantitative information regarding the significant unobservable inputs used in significant Level 3 assets and liabilities measured at fair value on a recurring basis.

March 31, 2013($ in millions)	Level 3 recurring measurements		Valuation technique	Unobservable input	Range
Assets
Mortgage servicing rights	$	917	(a)	(a)	(a)
Other assets
Interests retained in financial asset sales	139		Discounted cash flow	Discount rate	5.4-6.1%
				Commercial paper rate	0-0.2%

(a) Refer to Note 10 for information related to MSRs valuation assumptions and sensitivities.

Fair Value Measurements - Reconciliation of Level 3 Assets and Liabilities [Table Text Block]

The following tables present the reconciliation for all Level 3 assets and liabilities measured at fair value on a recurring basis. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The Level 3 items presented below may be hedged by derivatives and other financial instruments that are classified as Level 1 or Level 2. Thus, the following tables do not fully reflect the impact of our risk management activities.

	Level 3 recurring fair value measurements
				Net realized/unrealized gains (losses)															Fair value at Mar. 31, 2013		Net unrealized gains (losses) included in earnings still held at Mar. 31, 2013
($ in millions)	Fair value at Jan. 1, 2013			included in  earnings				included in OCI		Purchases		Sales		Issuances		Settlements
Assets
Mortgage servicing rights	$	952		$	(89	)	(a)	$	—	$	—	$	—	$	54	$	—		$	917	$	(89	)	(a)
Other assets
Interests retained in financial asset sales	154			2			(b)	—		—		—		—		(17		)	139		—
Derivative contracts, net (c)
Interest rate	47			(46		)	(d)	—		—		—		—		4			5		(9		)	(d)
Foreign currency	(2		)	2			(d)	—		—		—		—		—			—		(1		)	(d)
Total derivative contracts in a receivable position, net	45			(44		)		—		—		—		—		4			5		(10		)
Total assets	$	1,151		$	(131	)		$	—	$	—	$	—	$	54	$	(13	)	$	1,061	$	(99	)

(a) Fair value adjustment was reported as servicing-asset valuation and hedge activities, net, in the Condensed Consolidated Statement of Comprehensive Income.

(b) Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

(c) Includes derivatives classified as trading.

(d) Refer to Note 20 for information related to the location of the gains and losses on derivative instruments in the Condensed Consolidated Statement of Comprehensive Income.

	Level 3 recurring fair value measurements
	Fair value at Jan. 1, 2012			Net realized/unrealized gains (losses)						Purchases			Sales		Issuances		Settlements			Fair value at Mar. 31, 2012			Net  unrealized gains (losses) included  in earnings still held at Mar. 31, 2012
($ in millions)				included in earnings				included in OCI
Assets
Trading assets (excluding derivatives)
Mortgage-backed residential securities	$	33		$	2		(a)	$	—	$	—		$	—	$	—	$	(3	)	$	32		$	4		(a)
Investment securities
Available-for-sale debt securities
Asset-backed	62			—				1		—			—		—		—			63			—
Mortgage loans held-for-sale, net (b)	30			—				—		9			—		—		(9		)	30			—
Consumer mortgage finance receivables and loans, net (b)	835			87			(b)	—		—			—		—		(90		)	832			35			(b)
Mortgage servicing rights	2,519			1			(c)	—		—			—		11		64			2,595			1			(c)
Other assets
Interests retained in financial asset sales	231			5			(d)	—		—			—		—		(42		)	194			—
Derivative contracts, net (e)
Interest rate	71			(24		)	(f)	—		—			—		—		(3		)	44			(28		)	(f)
Foreign currency	16			(11		)	(f)	—		—			—		—		—			5			(11		)	(f)
Total derivative contracts in a receivable position, net	87			(35		)		—		—			—		—		(3		)	49			(39		)
Total assets	$	3,797		$	60			$	1	$	9		$	—	$	11	$	(83	)	$	3,795		$	1
Liabilities
Long-term debt
On-balance sheet securitization debt (b)	$	(830	)	$	(83	)	(b)	$	—	$	—		$	—	$	—	$	85		$	(828	)	$	(39	)	(b)
Accrued expenses and other liabilities
Loan repurchase liabilities (b)	(29		)	—				—		(9		)	—		—		8			(30		)	—
Total liabilities	$	(859	)	$	(83	)		$	—	$	(9	)	$	—	$	—	$	93		$	(858	)	$	(39	)

(a) The fair value adjustment and the related interest were reported as income from discontinued operations, net of tax, in the Condensed Consolidated Statement of Comprehensive Income.

(b) Carried at fair value due to fair value option elections. Refer to the next section of this note titled Fair Value Option for Financial Assets and Liabilities for the location of the gains and losses in the Condensed Consolidated Statement of Comprehensive Income.

(c) Fair value adjustment was reported as servicing-asset valuation and hedge activities, net, and income from discontinued operations, net of tax, in the Condensed Consolidated Statement of Comprehensive Income.

(d) Reported as other income, net of losses, and income from discontinued operations, net of tax, in the Condensed Consolidated Statement of Comprehensive Income.

(e) Includes derivatives classified as trading.

(f) Refer to Note 20 for information related to the location of the gains and losses on derivative instruments in the Condensed Consolidated Statement of Comprehensive Income.

Fair Value Measurements - Nonrecurring Basis [Table Text Block]

The following tables display the assets and liabilities measured at fair value on a nonrecurring basis.

	Nonrecurring fair value measurements								Lower-of-cost or fair value or valuation reserve allowance			Total loss included in earnings for the three months ended
March 31, 2013($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale	$	—	$	—	$	18	$	18	$	—		n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		121		121		(21		)	n/m	(a)
Other	—		—		46		46		(7		)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		167		167		(28		)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		6		6		(4		)	n/m	(a)
Total assets	$	—	$	—	$	191	$	191	$	(32	)	n/m

n/m = not meaningful

(a) We consider the applicable valuation or loan loss allowance to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation or loan loss allowance.

(b) Represents the portion of the portfolio specifically impaired during 2013. The related valuation allowance represents the cumulative adjustment to fair value of those specific receivables.

(c) The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

	Nonrecurring fair value measurements								Lower-of-cost or fair value or valuation reserve allowance			Total loss included in earnings for the three months ended
March 31, 2012 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Mortgage loans held-for-sale (a)	$	—	$	—	$	580	$	580	$	(57	)	n/m	(b)
Commercial finance receivables and loans, net (c)
Automotive	—		—		122		122		(25		)	n/m	(b)
Mortgage	—		1		15		16		(11		)	n/m	(b)
Other	—		—		20		20		(10		)	n/m	(b)
Total commercial finance receivables and loans, net	—		1		157		158		(46		)	n/m	(b)
Other assets
Repossessed and foreclosed assets (d)	—		62		21		83		(13		)	n/m	(b)
Total assets	$	—	$	63	$	758	$	821	$	(116	)	n/m

n/m = not meaningful

(a) Represents loans held-for-sale that are required to be measured at the lower-of-cost or fair value. The table above includes only loans with fair values below cost during 2012. The related valuation allowance represents the cumulative adjustment to fair value of those specific assets.

(b) We consider the applicable valuation or loan loss allowance to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation or loan loss allowance.

(c) Represents the portion of the portfolio specifically impaired during 2012. The related valuation allowance represents the cumulative adjustment to fair value of those specific receivables.

(d) The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

Fair Value Measurements - Nonrecurring Fair Value Inputs [Table Text Block]

The following table presents quantitative information regarding the significant unobservable inputs used in significant Level 3 assets measured at fair value on a nonrecurring basis.

March 31, 2013($ in millions)	Level 3 nonrecurring measurements		Valuation technique	Unobservable input	Range
Assets
Commercial finance receivables and loans, net
Automotive	$	121	Fair value of collateral	Adjusted appraisal value	65.0-95.0%

Fair Value Option - Summary of Changes Included in the Condensed Consolidated Statement of Income [Table Text Block]

The following tables summarize the fair value option elections and information regarding the amounts recorded as earnings for each fair value option-elected item.

	Changes included in the
	Condensed Consolidated Statement of Comprehensive Income
Three months ended March 31, ($ in millions)		Interest on loans held-for-sale (a)		Gain on mortgage loans, net			Total included in earnings
2013
Assets
Mortgage loans held-for-sale, net		$	16	$	(41	)	$	(25	)	(b)
2012
Assets
Mortgage loans held-for-sale, net		$	26	$	(59	)	$	(33	)	(b)

(a) Interest income is measured by multiplying the unpaid principal balance on the loans by the coupon rate and the number of days of interest due.

(b) The credit impact for loans held-for-sale is assumed to be zero because the loans are either suitable for sale or are covered by a government guarantee.

Fair Value Option Election [Table Text Block]

(b) The credit impact for loans held-for-sale is assumed to be zero because the loans are either suitable for sale or are covered by a government guarantee.

The following table provides the aggregate fair value and the aggregate unpaid principal balance for the fair value option-elected loans and long-term debt instruments.

	March 31, 2013				December 31, 2012
($ in millions)	Unpaid principal balance		Fair value (a)		Unpaid principal balance		Fair value (a)
Assets
Mortgage loans held-for-sale, net
Total loans	$	731	$	701	$	2,416	$	2,490
Nonaccrual loans	50		26		47		25
Loans 90+ days past due (b)	41		21		36		19

(a) Excludes accrued interest receivable.

(b) Loans 90+ days past due a

Fair Value of Financial Intruments [Table Text Block]

The following table presents the carrying and estimated fair value of financial instruments, except for those recorded at fair value on a recurring basis presented in the previous section of this note titled Recurring Fair Value. When possible, we use quoted market prices to determine fair value. Where quoted market prices are not available, the fair value is internally derived based on appropriate valuation methodologies with respect to the amount and timing of future cash flows and estimated discount rates. However, considerable judgment is required in interpreting market data to develop estimates of fair value, so the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. The effect of using different market assumptions or estimation methodologies could be material to the estimated fair values. Fair value information presented herein was based on information available at March 31, 2013 and December 31, 2012.

			Estimated fair value
($ in millions)	Carrying value		Level 1		Level 2		Level 3		Total
March 31, 2013
Financial assets
Loans held-for-sale, net (a)	$	718	$	—	$	701	$	18	$	719
Finance receivables and loans, net (a)	97,926		—		—		99,039		99,039
Nonmarketable equity investments	283		—		252		35		287
Financial liabilities
Deposit liabilities	$	50,326	$	—	$	—	$	51,146	$	51,146
Short-term borrowings	7,618		5		—		7,613		7,618
Long-term debt (a)(b)	67,951		—		35,847		35,936		71,783
December 31, 2012
Financial assets
Loans held-for-sale, net (a)	$	2,576	$	—	$	2,490	$	86	$	2,576
Finance receivables and loans, net (a)	97,885		—		—		98,907		98,907
Nonmarketable equity investments	303		—		272		34		306
Financial liabilities
Deposit liabilities	$	47,915	$	—	$	—	$	48,752	$	48,752
Short-term borrowings	7,461		6		—		7,454		7,460
Long-term debt (a)(b)	74,882		—		36,018		42,533		78,551

(a) Includes financial instruments carried at fair value due to fair value option elections. Refer to the previous section of this note titled Fair Value Option for Financial Assets and Liabilities for further information about the fair value elections.

(b) The carrying value includes deferred interest for zero-coupon bonds of $330 million and $321 million at March 31, 2013, and December 31, 2012, respectively.