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INVESTMENT SECURITIES AND OTHER SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Fair Value, and Gross Unrealized Gains and Losses by Investment Category
The following tables provide amortized cost, fair value, and gross unrealized gains and losses by investment category at September 30, 2020 and December 31, 2019:
Unrealized
(dollar amounts in millions)
Amortized
Cost
Gross
Gains
Gross
Losses
Fair Value
September 30, 2020
Available-for-sale securities:
U.S. Treasury$5 $— $— $5 
Federal agencies:
Residential CMO4,343 157 (2)4,498 
Residential MBS5,669 98 (6)5,761 
Commercial MBS787 22 (2)807 
Other agencies112 2 — 114 
Total U.S. Treasury, federal agency and other agency securities10,916 279 (10)11,185 
Municipal securities3,071 89 (16)3,144 
Private-label CMO5 — — 5 
Asset-backed securities197 6 — 203 
Corporate debt267 — (1)266 
Other securities/Sovereign debt4 — — 4 
Total available-for-sale securities$14,460 $374 $(27)$14,807 
Held-to-maturity securities:
Federal agencies:
Residential CMO$1,959 $98 $— $2,057 
Residential MBS2,926 102 — 3,028 
Commercial MBS3,413 199 — 3,612 
Other agencies256 14 — 270 
Total federal agency and other agency securities8,554 413 — 8,967 
Municipal securities3 — — 3 
Total held-to-maturity securities$8,557 $413 $— $8,970 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$64 $— $— $64 
Federal Reserve Bank stock299 — — 299 
Other securities, at fair value
Mutual funds49 — — 49 
Equity securities9 — — 9 
Total other securities$421 $— $— $421 
Unrealized
(dollar amounts in millions)Amortized
Cost		Gross
Gains		Gross
Losses		Fair Value
December 31, 2019
Available-for-sale securities:
U.S. Treasury$10 $— $— $10 
Federal agencies:
Residential CMO5,055 48 (18)5,085 
Residential MBS4,180 45 (3)4,222 
Commercial MBS979 1 (4)976 
Other agencies165 1 (1)165 
Total U.S. Treasury, federal agency and other agency securities10,389 95 (26)10,458 
Municipal securities3,044 34 (23)3,055 
Private-label CMO2 — — 2 
Asset-backed securities575 6 (2)579 
Corporate debt49 2 — 51 
Other securities/Sovereign debt4 — — 4 
Total available-for-sale securities$14,063 $137 $(51)$14,149 
Held-to-maturity securities:
Federal agencies:
Residential CMO$2,351 $33 $(3)$2,381 
Residential MBS2,463 50 — 2,513 
Commercial MBS3,959 34 — 3,993 
Other agencies293 2 — 295 
Total federal agency and other agency securities9,066 119 (3)9,182 
Municipal securities4 — — 4 
Total held-to-maturity securities$9,070 $119 $(3)$9,186 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$90 $— $— $90 
Federal Reserve Bank stock297 — — 297 
Other securities, at fair value
Mutual funds53 — — 53 
Equity securities1 — — 1 
Total other securities$441 $— $— $441 
Investments by Contractual Maturity
The following table provides the amortized cost and fair value of securities by contractual maturity at September 30, 2020 and December 31, 2019. Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties.
September 30, 2020December 31, 2019
(dollar amounts in millions)
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Available-for-sale securities:
Under 1 year$349 $345 $231 $229 
After 1 year through 5 years1,198 1,203 1,196 1,189 
After 5 years through 10 years1,522 1,562 1,594 1,606 
After 10 years11,391 11,697 11,042 11,125 
Total available-for-sale securities$14,460 $14,807 $14,063 $14,149 
Held-to-maturity securities:
Under 1 year$— $— $— $— 
After 1 year through 5 years137 145 17 17 
After 5 years through 10 years173 181 300 305 
After 10 years8,247 8,644 8,753 8,864 
Total held-to-maturity securities$8,557 $8,970 $9,070 $9,186 
Investments with Unrealized Losses by Investment Category
The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position at September 30, 2020 and December 31, 2019:
Less than 12 MonthsOver 12 MonthsTotal
(dollar amounts in millions)Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses
September 30, 2020
Available-for-sale securities:
Federal agencies:
Residential CMO$209 $(2)$— $— $209 $(2)
Residential MBS1,849 (6)— — 1,849 (6)
Commercial MBS27 (2)— — 27 (2)
Other agencies— — — — — — 
Total federal agency and other agency securities2,085 (10)— — 2,085 (10)
Municipal securities166 (3)684 (13)850 (16)
Asset-backed securities16 — — — 16 — 
Corporate debt230 (1)— — 230 (1)
Total temporarily impaired securities$2,497 $(14)$684 $(13)$3,181 $(27)
Held-to-maturity securities:
Federal agencies:
Residential CMO$— $— $— $— $— $— 
Residential MBS— — — — — — 
Commercial MBS— — — — — — 
Other agencies— — — — — — 
Total federal agency and other agency securities— — — — — — 
Municipal securities— — — — — — 
Total temporarily impaired securities$— $— $— $— $— $— 
Less than 12 MonthsOver 12 MonthsTotal
(dollar amounts in millions)Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses
December 31, 2019
Available-for-sale securities:
Federal agencies:
Residential CMO$1,206 $(10)$519 $(8)$1,725 $(18)
Residential MBS1,169 (3)9 — 1,178 (3)
Commercial MBS472 (2)272 (2)744 (4)
Other agencies86 (1)— — 86 (1)
Total federal agency and other agency securities2,933 (16)800 (10)3,733 (26)
Municipal securities273 (4)1,204 (19)1,477 (23)
Asset-backed securities116 (1)37 (1)153 (2)
Corporate debt1 — — — 1 — 
Total temporarily impaired securities$3,323 $(21)$2,041 $(30)$5,364 $(51)
Held-to-maturity securities:
Federal agencies:
Residential CMO$218 $(1)$112 $(2)$330 $(3)
Residential MBS317 — — — 317 — 
Commercial MBS81 — — — 81 — 
Other agencies58 — — — 58 — 
Total federal agency and other agency securities674 (1)112 (2)786 (3)
Municipal securities4 — — — 4 — 
Total temporarily impaired securities$678 $(1)$112 $(2)$790 $(3)