Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements - Recurring Basis [Table Text Block]

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
December 31, 2014($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	217		$	961		$	—	$	1,178
U.S. State and political subdivisions	—			406			—		406
Foreign government	14			218			—		232
Mortgage-backed residential	—			10,425			—		10,425
Mortgage-backed commercial	—			253			—		253
Asset-backed	—			1,991			—		1,991
Corporate debt securities	—			746			—		746
Total debt securities	231			15,000			—		15,231
Equity securities (a)	906			—			—		906
Total available-for-sale securities	1,137			15,000			—		16,137
Mortgage loans held-for-sale, net (b)	—			—			3		3
Other assets
Interests retained in financial asset sales	—			—			47		47
Derivative contracts in a receivable position (c)
Interest rate	4			252			—		256
Foreign currency	—			5			—		5
Other	2			—			—		2
Total derivative contracts in a receivable position	6			257			—		263
Collateral placed with counterparties (d)	—			15			—		15
Total assets	$	1,143		$	15,272		$	50	$	16,465
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (c)
Interest rate	$	(2	)	$	(166	)	$	—	$	(168	)
Foreign currency	—			(78		)	—		(78		)
Other	(2		)	(4		)	—		(6		)
Total derivative contracts in a payable position	(4		)	(248		)	—		(252		)
Total liabilities	$	(4	)	$	(248	)	$	—	$	(252	)

(a) Our investment in any one industry did not exceed 16%.

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

(c) For additional information on derivative instruments and hedging activities, refer to Note 22.

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

	Recurring fair value measurements
December 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	$	310		$	1,117		$	—		$	1,427
U.S. State and political subdivisions	—			315			—			315
Foreign government	7			281			—			288
Mortgage-backed residential	—			10,782			—			10,782
Mortgage-backed commercial	—			39			—			39
Asset-backed	—			2,219			—			2,219
Corporate debt securities	—			1,069			—			1,069
Total debt securities	317			15,822			—			16,139
Equity securities (a)	944			—			—			944
Total available-for-sale securities	1,261			15,822			—			17,083
Mortgage loans held-for-sale, net (b)	—			16			—			16
Other assets
Interests retained in financial asset sales	—			—			100			100
Derivative contracts in a receivable position (c)
Interest rate	46			207			93			346
Foreign currency	—			16			—			16
Total derivative contracts in a receivable position	46			223			93			362
Collateral placed with counterparties (d)	—			133			—			133
Total assets	$	1,307		$	16,194		$	193		$	17,694
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (c)
Interest rate	$	(15	)	$	(201	)	$	(94	)	$	(310	)
Foreign currency	—			(2		)	—			(2		)
Other	(5		)	—			—			(5		)
Total derivative contracts in a payable position	(20		)	(203		)	(94		)	(317		)
Total liabilities	$	(20	)	$	(203	)	$	(94	)	$	(317	)

(a) Our investment in any one industry did not exceed 19%.

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

(c) For additional information on derivative instruments and hedging activities, refer to Note 22.

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

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																		Fair value at December 31, 2014		Net unrealized gains included in earnings still held at December 31, 2014
($ in millions)	Fair value at January 1, 2014			included in earnings			included in OCI		Purchases		Sales		Issuances		Settlements			Transfers into level 3		Transfers out of level 3
Assets
Loans held-for-sale	$	—		$	—		$	—	$	—	$	—	$	—	$	—		$	3	$	—	$	3	$	1
Other assets
Interests retained in financial asset sales	100			13		(a)	—		—		—		—		(66		)	—		—		47		—
Interest rate derivative contracts, net	(1		)	—			—		—		—		—		(2		)	—		3		—		—
Total assets	$	99		$	13		$	—	$	—	$	—	$	—	$	(68	)	$	3	$	3	$	50	$	1

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

	Level 3 recurring fair value measurements
	Fair value at January 1, 2013			Net realized/unrealized gains (losses)						Purchases		Sales			Issuances		Settlements			Transfers out of level 3			Fair value at December 31, 2013			Net unrealized gains included in earnings still held at December 31, 2013
($ in millions)				included in earnings				included in OCI
Assets
Mortgage servicing rights	$	952		$	(101	)	(a)	$	—	$	—	$	(911	)	$	60	$	—		$	—		$	—		$	—
Other assets
Interests retained in financial asset sales	154			23			(b)	—		—		—			—		(77		)	—			100			—
Derivative contracts, net (c)
Interest rate	47			(52		)	(c)	—		—		—			—		4			—			(1		)	—
Foreign currency	(2		)	11			(c)	—		—		—			—		2			(11		)	—			11		(c)
Total derivative contracts in a receivable position, net	45			(41		)		—		—		—			—		6			(11		)	(1		)	11
Total assets	$	1,151		$	(119	)		$	—	$	—	$	(911	)	$	60	$	(71	)	$	(11	)	$	99		$	11

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

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

(c) Refer to Note 22 for information related to the location of the gains and losses on derivative instruments in the Consolidated Statement of 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 year ended
December 31, 2014($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale	$	—	$	—	$	36	$	36	$	—		n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		24		24		(6		)	n/m	(a)
Other	—		—		32		32		(15		)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		56		56		(21		)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		8		8		(2		)	n/m	(a)
Other	—		—		2		2		—			n/m	(a)
Total assets	$	—	$	—	$	102	$	102	$	(23	)	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 2014. 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 year ended
December 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	—		—		54		54		(9		)	n/m	(a)
Other	—		—		59		59		(16		)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		113		113		(25		)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		9		9		(3		)	n/m	(a)
Other	—		—		2		2		—			n/m	(a)
Total assets	$	—	$	—	$	142	$	142	$	(28	)	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.

Fair Value of Financial Instruments [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 December 31, 2014 and 2013.

			Estimated fair value
December 31, ($ in millions)	Carrying value		Level 1		Level 2		Level 3		Total
2014
Financial assets
Loans held-for-sale, net	$	2,003	$	—	$	485	$	1,554	$	2,039
Finance receivables and loans, net	98,971		—		—		99,430		99,430
Nonmarketable equity investments	271		—		246		33		279
Financial liabilities
Deposit liabilities	$	58,222	$	—	$	—	$	58,777	$	58,777
Short-term borrowings	7,062		—		—		7,063		7,063
Long-term debt	66,558		—		25,224		44,084		69,308
2013
Financial assets
Loans held-for-sale, net	$	35	$	—	$	17	$	18	$	35
Finance receivables and loans, net	99,120		—		—		100,090		100,090
Nonmarketable equity investments	337		—		308		38		346
Financial liabilities
Deposit liabilities	$	53,350	$	—	$	—	$	54,070	$	54,070
Short-term borrowings	8,545		—		—		8,545		8,545
Long-term debt (a)	69,824		—		31,067		42,297		73,364

(a) The carrying value includes deferred interest for zero-coupon bonds of $359 million at December 31, 2013.