Fair Value (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value [Abstract]

Fair Value Measurements - Recurring Basis Summary

Table 51: Fair Value Measurements – Recurring Basis Summary

	March 31, 2018								December 31, 2017
In millions	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Assets
Residential mortgage loans held for sale			$	615	$	2	$	617			$	829	$	3	$	832
Commercial mortgage loans held for sale			153		92		245				723		107		830
Securities available for sale
U.S. Treasury and government agencies	$	13,158	431				13,589		$	14,088	433				14,521
Residential mortgage-backed
Agency			26,002				26,002				25,406				25,406
Non-agency			91		2,545		2,636				97		2,661		2,758
Commercial mortgage-backed
Agency			1,807				1,807				1,904				1,904
Non-agency			2,570				2,570				2,613				2,613
Asset-backed			4,862		321		5,183				5,065		332		5,397
Other debt			4,137		94		4,231				4,347		87		4,434
Total debt securities	13,158		39,900		2,960		56,018		14,088		39,865		3,080		57,033
Other (a)									524		61				585
Total securities available for sale	13,158		39,900		2,960		56,018		14,612		39,926		3,080		57,618
Loans			511		302		813				571		298		869
Equity investments (b)	489		60		1,129		1,905						1,036		1,265
Residential mortgage servicing rights					1,256		1,256						1,164		1,164
Commercial mortgage servicing rights					723		723						668		668
Trading securities (c)	827		1,678		2		2,507		1,243		1,670		2		2,915
Financial derivatives (c) (d)	2		1,889		12		1,903				2,864		10		2,874
Other assets	275		250		68		593		278		253		107		638
Total assets	$	14,751	$	45,056	$	6,546	$	66,580	$	16,133	$	46,836	$	6,475	$	69,673
Liabilities
Other borrowed funds	$	963	$	205	$	9	$	1,177	$	1,079	$	254	$	11	$	1,344
Financial derivatives (d) (e)			2,505		437		2,942				2,369		487		2,856
Other liabilities					42		42						33		33
Total liabilities	$	963	$	2,710	$	488	$	4,161	$	1,079	$	2,623	$	531	$	4,233

(a) Prior period amounts included $.6 billion of available for sale securities, primarily money market funds, that were reclassified to equity investments on January 1, 2018 as the result of the adoption of ASU 2016-01. See the Recently Adopted Accounting Standards portion of Note 1 for additional details on this adoption.

(b) Certain investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet.

(c) Included in Other assets on the Consolidated Balance Sheet.

(d) Amounts at March 31, 2018 and December 31, 2017 are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and cash collateral held or placed with the same counterparty. See Note 9Financial Derivatives for additional information related to derivative offsetting.

(e) Included in Other liabilities on the Consolidated Balance Sheet.

Reconciliation of Level 3 Assets and Liabilities

Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the three months endedMarch 31, 2018 and 2017 follow:

Table 52: Reconciliation of Level 3 Assets and Liabilities

Three Months Ended March 31, 2018

			Total realized / unrealized gains or losses for the  period (a)																							Unrealized gains / losses on assets and liabilities held on Consolidated Balance Sheet at Mar. 31, 2018 (a) (b)
Level 3 Instruments Only In millions	Fair Value Dec. 31, 2017		Included in Earnings			Included in Other comprehensive income			Purchases		Sales			Issuances		Settlements			Transfers into Level 3		Transfers out of Level 3			Fair Value Mar. 31, 2018
Assets
Residential mortgage loans held for sale	$	3							$	1	$	(1	)						$	2	$	(3	)	$	2
Commercial mortgage loans held for sale	107															$	(15	)						92
Securities available for sale
Residential mortgage- backed non-agency	2,661		$	19			$	3								(138		)						2,545
Asset-backed	332		(1		)		5									(15		)						321
Other debt	87		5				1		2							(1		)						94
Total securities available for sale	3,080		23				9		2							(154		)						2,960
Loans	298		2						37		(7		)			(18		)	2		(12		)	302		$	2
Equity investments	1,036		26						82		(15		)											1,129		25
Residential mortgage servicing rights	1,164		107						9					$	13	(37		)						1,256		105
Commercial mortgage servicing rights	668		48						23					17		(33		)						723		48
Trading securities	2																							2
Financial derivatives	10		7						1							(6		)						12		9
Other assets	107		3													(42		)						68		3
Total assets	$	6,475	$	216			$	9	$	155	$	(23	)	$	30	$	(305	)	$	4	$	(15	)	$	6,546	$	192
Liabilities
Other borrowed funds	$	11												$	19	$	(21	)						$	9
Financial derivatives	487		$	10							$	3				(63		)						437		$	5
Other liabilities	33		2						$	12				5		(10		)						42		2
Total liabilities	$	531	$	12					$	12	$	3		$	24	$	(94	)						$	488	$	7
Net gains (losses)			$	204		(c)																				$	185	(d)

Three Months Ended March 31, 2017

			Total realized / unrealized gains or losses for the  period (a)																								Unrealized gains / losses on assets and liabilities held on Consolidated Balance Sheet at Mar. 31, 2017 (a) (b)
Level 3 Instruments Only In millions	Fair Value Dec. 31, 2016		Included in Earnings			Included in Other comprehensive income			Purchases		Sales			Issuances		Settlements			Transfers into Level 3		Transfers out of Level 3				Fair Value Mar. 31, 2017
Assets
Residential mortgage loans held for sale	$	2							$	2									$	2	$	(2	)		$	4
Commercial mortgage loans held for sale	1,400		$	9							$	(1,617	)	$	801	$	(12	)							581		$	(5	)
Securities available for sale
Residential mortgage- backed non-agency	3,254		26				$	18								(202		)							3,096
Asset-backed	403		4				4				(25		)			(20		)							366
Other debt	66						9		1		(1		)												75
Total securities available for sale	3,723		30				31		1		(26		)			(222		)							3,537
Loans	335		1						22		(4		)			(19		)	2		(14		)		323
Equity investments	1,331		96						37		(175		)								(183		)	(e)	1,106		67
Residential mortgage servicing rights	1,182		18						83					17		(39		)							1,261		17
Commercial mortgage servicing rights	576		13						13					29		(25		)							606		13
Trading securities	2																								2
Financial derivatives	40		(1		)											(15		)							24		22
Other assets	239		(2		)											(155		)							82		(2		)
Total assets	$	8,830	$	164			$	31	$	158	$	(1,822	)	$	847	$	(487	)	$	4	$	(199	)		$	7,526	$	112
Liabilities
Other borrowed funds	$	10												$	19	$	(22	)							$	7
Financial derivatives	414		$	9							$	2				(171		)							254		$	7
Other liabilities	9		16											77		(71		)							31		16
Total liabilities	$	433	$	25							$	2		$	96	$	(264	)							$	292	$	23
Net gains (losses)			$	139		(c)																					$	89		(d)

(a) Losses for assets are bracketed while losses for liabilities are not.

(b) The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period.

(c) Net gains (losses) realized and unrealized included in earnings related to Level 3 assets and liabilities included amortization and accretion. The amortization and accretion amounts were included in Interest income on the Consolidated Income Statement and the remaining net gains (losses) realized and unrealized were included in Noninterest income on the Consolidated Income Statement.

(d) Net unrealized gains (losses) related to assets and liabilities held at the end of the reporting period were included in Noninterest income on the Consolidated Income Statement.

(e) Reflects transfer out of Level 3 associated with change in valuation methodology for certain equity investments subject to the Volcker Rule provisions of the Dodd-Frank Act.

Fair Value Measurements - Recurring Quantitative Information

Table 53: Fair Value Measurements – Recurring Quantitative Information

March 31, 2018

Level 3 Instruments Only Dollars in millions	Fair Value			Valuation Techniques	Unobservable Inputs	Range (Weighted-Average)
Commercial mortgage loans held for sale	$	92		Discounted cash flow	Spread over the benchmark curve (a)	525bps - 1,580bps (1,069bps)
Residential mortgage-backed non-agency securities	2,545			Priced by a third-party vendor using a discounted cash flow pricing model	Constant prepayment rate (CPR)	1.0% - 33.0% (10.9%)
					Constant default rate (CDR)	0.0% - 17.8% (5.7%)
					Loss severity	20.0% - 100.0% (50.5%)
					Spread over the benchmark curve (a)	196bps weighted-average
Asset-backed securities	321			Priced by a third-party vendor using a discounted cash flow pricing model	Constant prepayment rate (CPR)	1.0% - 19.0% (7.9%)
					Constant default rate (CDR)	2.0% - 11.8% (5.1%)
					Loss severity	16.0% - 100.0% (67.1%)
					Spread over the benchmark curve (a)	126bps weighted-average
Loans	142			Consensus pricing (b)	Cumulative default rate	11.0% - 100.0% (82.5%)
					Loss severity	0.0% - 100.0% (18.5%)
					Discount rate	5.5% - 8.0% (5.7%)
	99			Discounted cash flow	Loss severity	8.0% weighted-average
					Discount rate	5.4% weighted-average
	61			Consensus pricing (b)	Credit and Liquidity discount	0.0% - 99.0% (61.1%)
Equity investments	1,129			Multiple of adjusted earnings	Multiple of earnings	4.9x - 29.7x (8.3x)
Residential mortgage servicing rights	1,256			Discounted cash flow	Constant prepayment rate (CPR)	0.0% - 44.4% (8.7%)
					Spread over the benchmark curve (a)	346bps - 1,811bps (831bps)
Commercial mortgage servicing rights	723			Discounted cash flow	Constant prepayment rate (CPR)	7.0% - 13.7% (7.9%)
					Discount rate	6.3% - 8.3% (8.1%)
Financial derivatives - Swaps related to sales of certain Visa Class B common shares	(363		)	Discounted cash flow	Estimated conversion factor of Visa Class B shares into Class A shares	163.8% weighted-average
					Estimated growth rate of Visa Class A share price	16.0%
					Estimated length of litigation resolution date	Q2 2021
Insignificant Level 3 assets, net of liabilities (c)	53
Total Level 3 assets, net of liabilities (d)	$	6,058

December 31, 2017

Level 3 Instruments Only Dollars in millions	Fair Value			Valuation Techniques	Unobservable Inputs	Range (Weighted-Average)
Commercial mortgage loans held for sale	$	107		Discounted cash flow	Spread over the benchmark curve (a)	525bps - 1,470bps (1020bps)
Residential mortgage-backed non-agency securities	2,661			Priced by a third-party vendor using a discounted cash flow pricing model	Constant prepayment rate (CPR)	1.0% - 31.6% (10.8%)
					Constant default rate (CDR)	0.1% - 18.8% (5.4%)
					Loss severity	15.0% - 100.0% (51.5%)
					Spread over the benchmark curve (a)	190bps weighted-average
Asset-backed securities	332			Priced by a third-party vendor using a discounted cash flow pricing model	Constant prepayment rate (CPR)	1.0% - 19.0% (7.9%)
					Constant default rate (CDR)	2.0% - 11.8% (5.4%)
					Loss severity	15.0% - 100.0% (68.5%)
					Spread over the benchmark curve (a)	179bps weighted-average
Loans	133			Consensus pricing (b)	Cumulative default rate	11.0% - 100.0% (85.7%)
					Loss severity	0.0% - 100.0% (20.6%)
					Discount rate	5.5% - 8.0% (5.7%)
	104			Discounted cash flow	Loss severity	8.0% weighted-average
					Discount rate	4.9% weighted-average
	61			Consensus pricing (b)	Credit and Liquidity discount	0.0% - 99.0% (61.1%)
Equity investments	1,036			Multiple of adjusted earnings	Multiple of earnings	4.5x - 29.7x (8.3x)
Residential mortgage servicing rights	1,164			Discounted cash flow	Constant prepayment rate (CPR)	0.0% - 36.7% (10.0%)
					Spread over the benchmark curve (a)	390bps - 1,839bps (830bps)
Commercial mortgage servicing rights	668			Discounted cash flow	Constant prepayment rate (CPR)	7.7% - 14.2% (8.5%)
					Discount rate	6.4% - 7.9% (7.8%)
Financial derivatives - Swaps related to sales of certain Visa Class B common shares	(380		)	Discounted cash flow	Estimated conversion factor of Visa Class B shares into Class A shares	163.8% weighted-average
					Estimated growth rate of Visa Class A share price	16.0%
					Estimated length of litigation resolution date	Q2 2021
Insignificant Level 3 assets, net of liabilities (c)	58
Total Level 3 assets, net of liabilities (d)	$	5,944

(a) The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest rate risks, such as credit and liquidity risks.

(b) Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices.

(c) Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, trading securities, other debt securities, residential mortgage loans held for sale, other assets, other borrowed funds and other liabilities.

(d) Consisted of total Level 3 assets of $6.5 billion and total Level 3 liabilities of $.5 billion as of March 31, 2018 and $6.4 billion and $.5 billion as of December 31, 2017, respectively.

Fair Value Measurements - Nonrecurring

Table 54: Fair Value Measurements – Nonrecurring

	Fair Value (a)				Gains (Losses) Three months ended
In millions	March 31 2018		December 31 2017		March 31 2018			March 31 2017
Assets
Nonaccrual loans	$	137	$	100	$	(23	)	$	(6	)
OREO, foreclosed and other assets	35		70					(4		)
Long-lived assets	15		80		(2		)	3
Total assets	$	187	$	250	$	(25	)	$	(7	)

(a) All Level 3 as of March 31, 2018 and December 31, 2017.

Fair Value Measurements - Nonrecurring Quantitative Information

Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows

Table 55: Fair Value Measurements – Nonrecurring Quantitative Information

Level 3 Instruments Only In millions	Fair Value		Valuation Techniques	Unobservable Inputs
March 31, 2018
Assets
Nonaccrual loans	$	137	Fair value of property or collateral	Appraised value/sales price
OREO, foreclosed and other assets	35		Fair value of property or collateral	Appraised value/sales price
Long-lived assets	15		Fair value of property or collateral	Appraised value/sales price
Total assets	$	187
December 31, 2017
Assets
Nonaccrual loans	$	100	Fair value of property or collateral	Appraised value/sales price
OREO, foreclosed and other assets	70		Fair value of property or collateral	Appraised value/sales price
Long-lived assets	47		Fair value of property or collateral	Appraised value/sales price
	20		Fair value of property or collateral	Broker opinion
	13		Fair value of property or collateral	Projected income/required improvement costs
Total assets	$	250

Fair Value Option - Fair Value and Principal Balances

Fair values and aggregate unpaid principal balances of certain items for which we elected the fair value option follow:

Table 56: Fair Value Option – Fair Value and Principal Balances

In millions	Fair Value		Aggregate Unpaid Principal Balance		Difference
March 31, 2018
Assets
Residential mortgage loans held for sale
Performing loans	$	604	$	591	$	13
Accruing loans 90 days or more past due	3		3
Nonaccrual loans	10		11		(1		)
Total	$	617	$	605	$	12
Commercial mortgage loans held for sale (a)
Performing loans	$	244	$	264	$	(20	)
Nonaccrual loans	1		2		(1		)
Total	$	245	$	266	$	(21	)
Residential mortgage loans
Performing loans	$	290	$	319	$	(29	)
Accruing loans 90 days or more past due	334		344		(10		)
Nonaccrual loans	189		307		(118		)
Total	$	813	$	970	$	(157	)
Other assets	$	216	$	221	$	(5	)
Liabilities
Other borrowed funds	$	56	$	57	$	(1	)
December 31, 2017
Assets
Residential mortgage loans held for sale
Performing loans	$	822	$	796	$	26
Accruing loans 90 days or more past due	3		3
Nonaccrual loans	7		8		(1		)
Total	$	832	$	807	$	25
Commercial mortgage loans held for sale (a)
Performing loans	$	828	$	842	$	(14	)
Nonaccrual loans	2		3		(1		)
Total	$	830	$	845	$	(15	)
Residential mortgage loans
Performing loans	$	251	$	280	$	(29	)
Accruing loans 90 days or more past due	421		431		(10		)
Nonaccrual loans	197		317		(120		)
Total	$	869	$	1,028	$	(159	)
Other assets	$	216	$	212	$	4
Liabilities
Other borrowed funds	$	84	$	85	$	(1	)

(a) There were no accruing loans 90 days or more past due within this category at March 31, 2018 or December 31, 2017.

Fair Value Option - Changes in Fair Value

Table 57: Fair Value Option – Changes in Fair Value (a)

	Gains (Losses)
	Three months ended
	Mar. 31			Mar. 31
In millions	2018			2017
Assets
Residential mortgage loans held for sale	$	4		$	30
Commercial mortgage loans held for sale	$	14		$	18
Residential mortgage loans	$	3		$	4
Other assets	$	11		$	7
Liabilities
Other liabilities	$	(2	)	$	(16	)

(a) The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts.

Additional Fair Value Information Related to Other Financial Instruments

Table 58: Additional Fair Value Information Related to Other Financial Instruments

	Carrying		Fair Value
In millions	Amount		Total		Level 1		Level 2		Level 3
March 31, 2018
Assets
Cash and due from banks	$	4,649	$	4,649	$	4,649
Interest-earning deposits with banks	28,821		28,821				$	28,821
Securities held to maturity	18,544		18,223		746		17,333		$	144
Net loans (excludes leases)	210,395		211,926						211,926
Other assets	4,954		4,954				4,940		14
Total assets	$	267,363	$	268,573	$	5,395	$	51,094	$	212,084
Liabilities
Time deposits (a)	$	16,270	$	15,976			$	15,976
Borrowed funds	56,862		57,514				55,838		$	1,676
Unfunded loan commitments and letters of credit	290		290						290
Other liabilities	416		416				416
Total liabilities	$	73,838	$	74,196			$	72,230	$	1,966
December 31, 2017
Assets
Cash and due from banks	$	5,249	$	5,249	$	5,249
Interest-earning deposits with banks	28,595		28,595				$	28,595
Securities held to maturity	18,513		18,565		765		17,658		$	142
Net loans (excludes leases)	209,044		211,175						211,175
Other assets	6,078		6,736				5,949		787
Total assets	$	267,479	$	270,320	$	6,014	$	52,202	$	212,104
Liabilities
Deposits	$	265,053	$	264,854			$	264,854
Borrowed funds	57,744		58,503				56,853		$	1,650
Unfunded loan commitments and letters of credit	297		297						297
Other liabilities	399		399				399
Total liabilities	$	323,493	$	324,053			$	322,106	$	1,947

(a) The amount at March 31, 2018 excludes deposit liabilities with no defined or contractual maturities in accordance with the adoption of ASU 2016-01. See the Recently Adopted Accounting Standards portion of Note 1 for additional details on this adoption.