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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Investment Securities Disclosure [Abstract]  
Investment Securities Summary
Table 46: Investment Securities Summary
 
 
September 30, 2018
 
 
December 31, 2017
In millions
 
Amortized
Cost

 
Unrealized
 
Fair
Value

 
 
Amortized
Cost

 
Unrealized
 
Fair
Value

Gains

 
Losses

 
 
 
Gains

 
Losses

 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
$
17,054

 
$
91

 
$
(294
)
 
$
16,851

 
 
$
14,432

 
$
173

 
$
(84
)
 
$
14,521

Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
28,694

 
46

 
(838
)
 
27,902

 
 
25,534

 
121

 
(249
)
 
25,406

Non-agency
 
2,034

 
331

 
(13
)
 
2,352

 
 
2,443

 
336

 
(21
)
 
2,758

Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
2,050

 
 
 
(85
)
 
1,965

 
 
1,960

 
2

 
(58
)
 
1,904

Non-agency
 
2,561

 
7

 
(29
)
 
2,539

 
 
2,603

 
19

 
(9
)
 
2,613

Asset-backed
 
5,545

 
64

 
(17
)
 
5,592

 
 
5,331

 
74

 
(8
)
 
5,397

Other debt
 
3,969

 
92

 
(51
)
 
4,010

 
 
4,322

 
129

 
(17
)
 
4,434

Total debt securities
 
61,907

 
631

 
(1,327
)
 
61,211

 
 
56,625

 
854

 
(446
)
 
57,033

Other (a)
 
 
 
 
 
 
 
 
 
 
587

 
 
 
(2
)
 
585

Total securities available for sale
 
$
61,907

 
$
631

 
$
(1,327
)
 
$
61,211

 
 
$
57,212

 
$
854

 
$
(448
)
 
$
57,618

Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
$
754

 
$
19

 
$
(38
)
 
$
735

 
 
$
741

 
$
37

 
$
(13
)
 
$
765

Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
15,962

 
6

 
(573
)
 
15,395

 
 
14,503

 
77

 
(139
)
 
14,441

Non-agency
 
155

 
 
 
 
 
155

 
 
167

 
7

 
 
 
174

Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
164

 
1

 
(2
)
 
163

 
 
407

 
4

 
 
 
411

Non-agency
 
502

 
 
 
(1
)
 
501

 
 
538

 
10

 
 
 
548

Asset-backed
 
187

 
 
 
 
 
187

 
 
200

 
1

 
 
 
201

Other debt
 
1,869

 
44

 
(28
)
 
1,885

 
 
1,957

 
88

 
(20
)
 
2,025

Total securities held to maturity
 
$
19,593

 
$
70

 
$
(642
)
 
$
19,021

 
 
$
18,513

 
$
224

 
$
(172
)
 
$
18,565


(a)
On January 1, 2018, $.6 billion of available for sale securities, primarily money market funds, were reclassified to equity investments in accordance with the adoption of Accounting Standards Update (ASU) 2016-01. See the Recently Adopted Accounting Standards portion of Note 1 Accounting Policies in our First Quarter 2018 Form 10-Q for additional detail on this adoption.
Gross Unrealized Loss and Fair Value of Securities Available for Sale
Table 47: Gross Unrealized Loss and Fair Value of Debt Securities
 
 
Unrealized loss position less
than 12 months
 
Unrealized loss position 12
months or more
 
Total
 
In millions
 
Unrealized
Loss

 
Fair
Value

 
Unrealized
Loss

 
Fair
Value

 
Unrealized
Loss

 
Fair
Value

 
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
$
(177
)
 
$
8,745

 
$
(117
)
 
$
2,253

 
$
(294
)
 
$
10,998

 
Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
(331
)
 
15,278

 
(507
)
 
9,409

 
(838
)
 
24,687

 
Non-agency
 
(1
)
 
105

 
(12
)
 
308

 
(13
)
 
413

 
Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
(8
)
 
412

 
(77
)
 
1,473

 
(85
)
 
1,885

 
Non-agency
 
(19
)
 
1,128

 
(10
)
 
196

 
(29
)
 
1,324

 
Asset-backed
 
(14
)
 
3,095

 
(3
)
 
372

 
(17
)
 
3,467

 
Other debt
 
(24
)
 
1,564

 
(27
)
 
838

 
(51
)
 
2,402

 
Total debt securities available for sale
 
$
(574
)
 
$
30,327

 
$
(753
)
 
$
14,849

 
$
(1,327
)
 
$
45,176

 
Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
 
 
 
 
$
(38
)
 
$
429

 
$
(38
)
 
$
429

 
Residential mortgage-backed - Agency
 
$
(232
)
 
$
8,631

 
(341
)
 
5,797

 
(573
)
 
14,428

 
Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
(2
)
 
64

 
 
 
 
 
(2
)
 
64


Non-agency
 
(1
)
 
344

 
 
 
 
 
(1
)
 
344

 
Other debt
 
(7
)
 
144

 
(21
)
 
102

 
(28
)
 
246

 
Total debt securities held to maturity
 
$
(242
)
 
$
9,183

 
$
(400
)
 
$
6,328

 
$
(642
)
 
$
15,511

 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
$
(42
)
 
$
6,099

 
$
(42
)
 
$
1,465

 
$
(84
)
 
$
7,564

 
Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
(47
)
 
8,151

 
(202
)
 
9,954

 
(249
)
 
18,105

 
Non-agency
 

 

 
(21
)
 
383

 
(21
)
 
383

 
Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
(11
)
 
524

 
(47
)
 
1,302

 
(58
)
 
1,826

 
Non-agency
 
(3
)
 
400

 
(6
)
 
333

 
(9
)
 
733

 
Asset-backed
 
(4
)
 
1,697

 
(4
)
 
462

 
(8
)
 
2,159

 
Other debt
 
(3
)
 
966

 
(14
)
 
798

 
(17
)
 
1,764

 
Total debt securities available for sale
 
$
(110
)
 
$
17,837

 
$
(336
)
 
$
14,697

 
$
(446
)
 
$
32,534

 
Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
$
(3
)
 
$
195

 
$
(10
)
 
$
255

 
$
(13
)
 
$
450

 
Residential mortgage-backed - Agency
 
(10
)
 
3,167

 
(129
)
 
6,168

 
(139
)
 
9,335

 
Other debt
 
(12
)
 
83

 
(8
)
 
67

 
(20
)
 
150

 
Total debt securities held to maturity
 
$
(25
)
 
$
3,445

 
$
(147
)
 
$
6,490

 
$
(172
)
 
$
9,935

 
Gains (losses) on Sales Of Securities Available for Sale
Table 48: Gains (Losses) on Sales of Securities Available for Sale
Nine months ended September 30
In millions
Proceeds

Gross Gains

Gross Losses

Net Gains (Losses)

Tax Expense (Benefit)

 
2018
$
5,464

$
43

$
(48
)
(5
)
$
(1
)
 
2017
$
4,221

$
31

$
(21
)
$
10

$
3

 
Contractual Maturity of Debt Securities
Table 49: Contractual Maturity of Debt Securities
September 30, 2018
Dollars in millions
 
1 Year or Less

 
After 1 Year
through 5 Years

 
After 5 Years
through 10 Years

 
After 10
Years

 
Total

 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
$
265

 
$
12,052

 
$
4,434

 
$
303

 
$
17,054

 
Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
Agency
 
2

 
67

 
611

 
28,014

 
28,694

 
Non-agency
 
 
 
 
 
 
 
2,034

 
2,034

 
Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
Agency
 
4

 
457

 
412

 
1,177

 
2,050

 
Non-agency
 
 
 
 
 
445

 
2,116

 
2,561

 
Asset-backed
 
18

 
2,129

 
2,110

 
1,288

 
5,545

 
Other debt
 
604

 
1,694

 
692

 
979

 
3,969

 
Total debt securities available for sale
 
$
893

 
$
16,399

 
$
8,704

 
$
35,911

 
$
61,907

 
Fair value
 
$
892

 
$
16,160

 
$
8,666

 
$
35,493

 
$
61,211

 
Weighted-average yield, GAAP basis
 
2.63
%
 
2.17
%
 
2.93
%
 
3.16
%
 
2.85
%
 
Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government agencies
 
 
 
 
 
$
484

 
$
270

 
$
754

 
Residential mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
Agency
 
 
 
$
69

 
507

 
15,386

 
15,962

 
Non-agency
 
 
 
 
 
 
 
155

 
155

 
Commercial mortgage-backed
 
 
 
 
 
 
 
 
 
 
 
Agency
 
$
62

 
47

 
4

 
51

 
164

 
Non-agency
 
 
 
 
 
 
 
502

 
502

 
Asset-backed
 
 
 
12

 
100

 
75

 
187

 
Other debt
 
34

 
532

 
803

 
500

 
1,869

 
Total debt securities held to maturity
 
$
96

 
$
660

 
$
1,898

 
$
16,939

 
$
19,593

 
Fair value
 
$
96

 
$
668

 
$
1,912

 
$
16,345

 
$
19,021

 
Weighted-average yield, GAAP basis
 
4.67
%
 
3.82
%
 
3.45
%
 
3.26
%
 
3.30
%
 
Fair Value of Securities Pledged and Accepted as Collateral
Table 50: Fair Value of Securities Pledged and Accepted as Collateral
In millions
September 30
2018

December 31
2017

Pledged to others
$
9,166

$
8,175

Accepted from others:
 
 
Permitted by contract or custom to sell or repledge
$
790

$
1,152

Permitted amount repledged to others
$
790

$
1,097