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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2011

Investment Securities (Tables) [Abstract]

Schedule of Available for Sale Securities by Type

The following is a summary of investment securities as of December 31:

	2011								2010
			Gross		Gross		Estimated				Gross		Gross		Estimated
			Unrealized		Unrealized		Fair				Unrealized		Unrealized		Fair
(Millions)		Cost	Gains		Losses		Value			Cost	Gains		Losses		Value
State and municipal obligations	$	4,968	$	103	$	(72)	$	4,999	$	6,140	$	24	$	(367)	$	5,797
U.S. Government agency obligations		352		2		―		354		3,402		12		(1)		3,413
U.S. Government treasury obligations		330		10		―		340		2,450		6		―		2,456
Corporate debt securities^(a)		626		9		(3)		632		1,431		15		(1)		1,445
Mortgage-backed securities^(b)		261		17		―		278		272		6		(2)		276
Equity securities^(c)		95		265		―		360		98		377		―		475
Foreign government bonds and obligations		120		10		―		130		95		4		―		99
Other		54		―		―		54		49		―		―		49
Total	$	6,806	$	416	$	(75)	$	7,147	$	13,937	$	444	$	(371)	$	14,010

The December 31, 2011 and 2010 balances include, on a cost basis, $0.6 billion and $1.3 billion, respectively, of corporate debt obligations issued under the Temporary Liquidity Guarantee Program (TLGP) that are guaranteed by the Federal Deposit Insurance Corporation (FDIC).
Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
Primarily represents the Company's investment in the Industrial and Commercial Bank of China (ICBC).

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The following table provides information about the Company's investment securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of December 31:

	2011								2010
(Millions)	Less than 12 months				12 months or more				Less than 12 months				12 months or more
			Gross					Gross			Gross				Gross
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
Description of Securities	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
State and municipal obligations	$	―	$	―	$	1,094	$	(72)	$	2,535	$	(156)	$	1,076	$	(211)
U.S. Government agency obligations		―		―		―		―		299		(1)		―		―
Corporate debt securities		15		(2)		2		(1)		―		―		3		(1)
Mortgage-backed securities		―		―		―		―		71		(2)		―		―
Total	$	15	$	(2)	$	1,096	$	(73)	$	2,905	$	(159)	$	1,079	$	(212)

Available for Sale Securities Ratio of Fair Value to Amortized Cost

The following table summarizes the gross unrealized losses due to temporary impairments by ratio of fair value to amortized cost as of December 31:

(Dollars in millions)	Less than 12 months					12 months or more					Total
				Gross					Gross					Gross
Ratio of Fair Value to	Number of	Estimated		Unrealized		Number of	Estimated		Unrealized		Number of	Estimated		Unrealized
Amortized Cost	Securities	Fair Value		Losses		Securities	Fair Value		Losses		Securities	Fair Value		Losses
2011:
90%–100%	―	$	―	$	―	114	$	884	$	(35)	114	$	884	$	(35)
Less than 90%	1		15		(2)	22		212		(38)	23		227		(40)
Total as of December 31, 2011	1	$	15	$	(2)	136	$	1,096	$	(73)	137	$	1,111	$	(75)
2010:
90%–100%	457	$	2,554	$	(113)	31	$	79	$	(7)	488	$	2,633	$	(120)
Less than 90%	48		351		(46)	115		1,000		(205)	163		1,351		(251)
Total as of December 31, 2010	505	$	2,905	$	(159)	146	$	1,079	$	(212)	651	$	3,984	$	(371)

Gross realized gains and losses on the sales of investment securities

Gross realized gains and losses on the sales of investment securities, included in other non-interest revenues, were as follows:

(Millions)	2011		2010		2009
Gains	$	16	$	1	$	226
Losses		―		(6)		(1)
Total	$	16	$	(5)	$	225

Contractual maturities of investment securities

Contractual maturities of investment securities, excluding equity securities and other securities, as of December 31, 2011 were as follows:

			Estimated
(Millions)	Cost		Fair Value
Due within 1 year	$	973	$	983
Due after 1 year but within 5 years		421		429
Due after 5 years but within 10 years		217		227
Due after 10 years		5,046		5,094
Total	$	6,657	$	6,733

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (c)-(e)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 12

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SAB TOPIC 5.M)

-URI http://asc.fasb.org/extlink&oid=6784337&loc=d3e87990-122713

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 21

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 5

-Section M

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 7, 13, 16, 22

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 25

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6379932&loc=d3e22054-111558

+ Details