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INVESTMENT SECURITIES AND OTHER SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2025
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.
Unrealized
(dollar amounts in millions)
Amortized
Cost (1)(2)
Gross
Gains		Gross
Losses		Fair Value
At June 30, 2025
Available-for-sale securities:
U.S. Treasury$7,351 $39 $(6)$7,384 
Federal agencies:
Residential MBS11,436 1 (1,596)9,841 
Residential CMO
4,922 — (354)4,568 
Commercial MBS2,453 1 (680)1,774 
Other agencies121 — (4)117 
Total U.S. Treasury, federal agency, and other agency securities
26,283 41 (2,640)23,684 
Municipal securities4,205 3 (116)4,092 
Corporate debt191 — (19)172 
Asset-backed securities279 — (12)267 
Private-label CMO113 — (8)105 
Other securities/sovereign debt
10 — — 10 
Total available-for-sale securities$31,081 $44 $(2,795)$28,330 
Held-to-maturity securities:
U.S. Treasury$2,330 $14 $(3)$2,341 
Federal agencies:
Residential MBS8,127 — (1,111)7,016 
Residential CMO
4,088 10 (577)3,521 
Commercial MBS1,358 — (206)1,152 
Other agencies61 — (3)58 
Total U.S. Treasury, federal agency and other agency securities
15,964 24 (1,900)14,088 
Municipal securities1 — — 1 
Total held-to-maturity securities$15,965 $24 $(1,900)$14,089 
Other securities, at cost:
Non-marketable equity securities:
FRB stock
$575 $— $— $575 
FHLB stock
248 — — 248 
Other non-marketable equity securities
24 — — 24 
Other securities, at fair value:
Mutual funds29 — — 29 
Equity securities2 — — 2 
Total other securities$878 $— $— $878 
(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Unaudited Consolidated Balance Sheets. At June 30, 2025, accrued interest receivable on AFS securities and HTM securities totaled $82 million and $46 million, respectively.
(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The basis adjustments totaled $197 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under the portfolio layer method are primarily Residential CMO and Residential MBS securities.
Unrealized
(dollar amounts in millions)Amortized
Cost (1)(2)		Gross
Gains		Gross
Losses		Fair Value
At December 31, 2024
Available-for-sale securities:
U.S. Treasury$6,588 $11 $(43)$6,556 
Federal agencies:
Residential MBS11,988 — (1,971)10,017 
Residential CMO
3,778 1 (434)3,345 
Commercial MBS2,519 — (767)1,752 
Other agencies135 — (5)130 
Total U.S. Treasury, federal agency, and other agency securities25,008 12 (3,220)21,800 
Municipal securities4,119 1 (132)3,988 
Corporate debt1,157 — (102)1,055 
Asset-backed securities330 — (19)311 
Private-label CMO
119 — (10)109 
Other securities/sovereign debt
10 — — 10 
Total available-for-sale securities$30,743 $13 $(3,483)$27,273 
Held-to-maturity securities:
U.S. Treasury
$2,045 $— $(22)$2,023 
Federal agencies:
Residential MBS8,533 — (1,336)7,197 
Residential CMO
4,309 3 (691)3,621 
Commercial MBS1,407 — (231)1,176 
Other agencies73 — (5)68 
Total U.S. Treasury, federal agency, and other agency securities16,367 3 (2,285)14,085 
Municipal securities1 — — 1 
Total held-to-maturity securities$16,368 $3 $(2,285)$14,086 
Other securities, at cost:
Non-marketable equity securities:
FRB stock
$521 $— $— $521 
FHLB stock
246 — — 246 
Other non-marketable equity securities25 — — 25 
Other securities, at fair value:
Mutual funds29 — — 29 
Equity securities1 1 — 2 
Total other securities$822 $1 $— $823 
(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Unaudited Consolidated Balance Sheets. At December 31, 2024, accrued interest receivable on AFS securities and HTM securities totaled $89 million and $46 million, respectively.
(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The basis adjustments totaled $458 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under the portfolio layer method are primarily Residential CMO and Residential MBS securities.
Investments by Contractual Maturity The following table provides the amortized cost and fair value of securities by contractual maturity. Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties.
At June 30, 2025At December 31, 2024
(dollar amounts in millions)
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Available-for-sale securities:
Under 1 year$3,805 $3,799 $3,620 $3,624 
After 1 year through 5 years5,896 5,888 5,993 5,844 
After 5 years through 10 years1,813 1,684 1,857 1,732 
After 10 years19,567 16,959 19,273 16,073 
Total available-for-sale securities$31,081 $28,330 $30,743 $27,273 
Held-to-maturity securities:
Under 1 year$255 $255 $255 $256 
After 1 year through 5 years2,115 2,124 1,818 1,796 
After 5 years through 10 years59 56 65 60 
After 10 years13,536 11,654 14,230 11,974 
Total held-to-maturity securities$15,965 $14,089 $16,368 $14,086 
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.
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
At June 30, 2025
Available-for-sale securities:
U.S. Treasury$2,583 $(6)$— $— $2,583 $(6)
Federal agencies:
Residential MBS210 (2)9,515 (1,594)9,725 (1,596)
Residential CMO960 (3)2,740 (351)3,700 (354)
Commercial MBS— — 1,774 (680)1,774 (680)
Other agencies25 — 66 (4)91 (4)
Total U.S. Treasury, federal agency, and other agency securities3,778 (11)14,095 (2,629)17,873 (2,640)
Municipal securities1,478 (24)2,225 (92)3,703 (116)
Corporate debt— — 172 (19)172 (19)
Asset-backed securities— — 267 (12)267 (12)
Private-label CMO— — 83 (8)83 (8)
Total temporarily impaired available-for-sale securities$5,256 $(35)$16,842 $(2,760)$22,098 $(2,795)
Held-to-maturity securities:
U.S. Treasury$749 $(3)$— $— $749 $(3)
Federal agencies:
Residential MBS54 (1)6,922 (1,110)6,976 (1,111)
Residential CMO— — 3,083 (577)3,083 (577)
Commercial MBS— — 1,152 (206)1,152 (206)
Other agencies— — 58 (3)58 (3)
Total U.S. Treasury, federal agency, and other agency securities803 (4)11,215 (1,896)12,018 (1,900)
Municipal securities— — 1 — 1 — 
Total temporarily impaired held-to-maturity securities$803 $(4)$11,216 $(1,896)$12,019 $(1,900)
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
At December 31, 2024
Available-for-sale securities:
U.S. Treasury$3,153 $(43)$— $— $3,153 $(43)
Federal agencies:
Residential MBS275 (5)9,676 (1,966)9,951 (1,971)
Residential CMO243 (1)2,802 (433)3,045 (434)
Commercial MBS— — 1,752 (767)1,752 (767)
Other agencies21 — 69 (5)90 (5)
Total U.S. Treasury, federal agency, and other agency securities3,692 (49)14,299 (3,171)17,991 (3,220)
Municipal securities985 (25)2,336 (107)3,321 (132)
Corporate debt— — 1,053 (102)1,053 (102)
Asset-backed securities49 — 263 (19)312 (19)
Private-label CMO— — 87 (10)87 (10)
Total temporarily impaired available-for-sale securities$4,726 $(74)$18,038 $(3,409)$22,764 $(3,483)
Held-to-maturity securities:
U.S. Treasury$1,581 $(22)$— $— $1,581 $(22)
Federal agencies:
Residential MBS99 (2)7,097 (1,334)7,196 (1,336)
Residential CMO163 (1)3,152 (690)3,315 (691)
Commercial MBS— — 1,176 (231)1,176 (231)
Other agencies— — 69 (5)69 (5)
Total U.S. Treasury, federal agency, and other agency securities1,843 (25)11,494 (2,260)13,337 (2,285)
Municipal securities— — 1 — 1 — 
Total temporarily impaired held-to-maturity securities$1,843 $(25)$11,495 $(2,260)$13,338 $(2,285)