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Financial Derivatives (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Total Gross Derivatives
Table 67: Total Gross Derivatives (a)
 March 31, 2021December 31, 2020
In millionsNotional /
Contract Amount		Asset Fair
Value (b)		Liability Fair
Value (c)		Notional /
Contract Amount		Asset Fair
Value (b)		Liability Fair
Value (c)
Derivatives used for hedging
Interest rate contracts (d):
Fair value hedges$22,802 $24,153 
Cash flow hedges35,017 $14 $99 22,875 $14 
Foreign exchange contracts:
Net investment hedges1,081 301,075 $22 
Total derivatives designated for hedging $58,900 $14 $129 $48,103 $14 $22 
Derivatives not used for hedging
Derivatives used for mortgage banking activities (e):
Interest rate contracts:
Swaps$26,974 $50,511 
Futures (f)2,883 2,841 
Mortgage-backed commitments14,979 $144 $82 11,288 $147 $77 
Other4,307 58 16 1,831 11 2 
Total interest rate contracts49,143 202 98 66,471 158 79 
Derivatives used for customer-related activities:
Interest rate contracts:
Swaps278,447 3,614 1,578 280,125 5,475 1,601 
Futures (f)965 1,235 
Mortgage-backed commitments7,324 36 30 4,178 11 14 
Other22,475 157 123 20,125 193 88 
Total interest rate contracts309,211 3,807 1,731 305,663 5,679 1,703 
Commodity contracts:
Swaps7,032 558 533 6,149 350 323 
Other3,247 120 120 2,770 61 61 
Total commodity contracts10,279 678 653 8,919 411 384 
Foreign exchange contracts and other26,183 186 172 26,620 267 243 
Total derivatives for customer-related activities345,673 4,671 2,556 341,202 6,357 2,330 
Derivatives used for other risk management activities:
Foreign exchange contracts and other10,836 29 240 10,931 4 325 
Total derivatives not designated for hedging $405,652 $4,902 $2,894 $418,604 $6,519 $2,734 
Total gross derivatives$464,552 $4,916 $3,023 $466,707 $6,533 $2,756 
Less: Impact of legally enforceable master netting agreements904 904 720 720 
Less: Cash collateral received/paid 716 1,295  1,434 1,452 
Total derivatives $3,296 $824 $4,379 $584 
(a)Centrally cleared derivatives are settled in cash daily and result in no derivative asset or derivative liability being recognized on our Consolidated Balance Sheet.
(b)Included in Other assets on our Consolidated Balance Sheet.
(c)Included in Other liabilities on our Consolidated Balance Sheet.
(d)Represents primarily swaps.
(e)Includes both residential and commercial mortgage banking activities.
(f)Futures contracts are settled in cash daily and result in no derivative asset or derivative liability being recognized on our Consolidated Balance Sheet.
Schedule of Fair Value and Cash Flow Hedges
Further detail regarding gains (losses) related to our fair value and cash flow hedge derivatives is presented in the following table:
Table 68: Gains (Losses) Recognized on Fair Value and Cash Flow Hedges in the Consolidated Income Statement (a) (b)
 Location and Amount of Gains (Losses) Recognized in Income
Interest IncomeInterest ExpenseNoninterest Income
In millionsLoansInvestment SecuritiesBorrowed FundsOther
For the three months ended March 31, 2021
Total amounts on the Consolidated Income Statement$1,996 $421 $95 $483 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$(8)$646 
Derivatives$9 $(664)
Amounts related to interest settlements on derivatives$(1)$134 
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from AOCI$100 $22 $13 
For the three months ended March 31, 2020
Total amounts on the Consolidated Income Statement$2,480 $582 $314 $343 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$234 $(1,361)
Derivatives$(231)$1,339 
Amounts related to interest settlements on derivatives$(2)$59 
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from AOCI$42 $2 $1 
(a)For all periods presented, there were no components of derivative gains or losses excluded from the assessment of hedge effectiveness for any of the fair value or cash flow hedge strategies.
(b)All cash flow and fair value hedge derivatives were interest rate contracts for the periods presented.
(c)Includes an insignificant amount of fair value hedge adjustments related to discontinued hedge relationships.
(d)For all periods presented, there were no gains or losses from cash flow hedge derivatives reclassified to income because it became probable that the original forecasted transaction would not occur.
Schedule of Fair Value Hedges
Detail regarding the impact of fair value hedge accounting on the carrying value of the hedged items is presented in the following table:

Table 69: Hedged Items - Fair Value Hedges
 
 March 31, 2021December 31, 2020
In millionsCarrying Value of the Hedged ItemsCumulative Fair Value Hedge Adjustment included in the Carrying Value of Hedged Items (a)Carrying Value of the Hedged ItemsCumulative Fair Value Hedge Adjustment included in the Carrying Value of Hedged Items (a)
Investment securities - available for sale (b)$2,778 $22 $2,785 $30 
Borrowed funds$23,936 $966 $25,797 $1,611 
(a)Includes $(0.1) billion of fair value hedge adjustments primarily related to discontinued borrowed funds hedge relationships at both March 31, 2021 and December 31, 2020, respectively.
(b)Carrying value shown represents amortized cost.
Gains (Losses) on Derivatives Not Designated as Hedging Instruments under GAAP
Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table:
Table 70: Gains (Losses) on Derivatives Not Designated for Hedging
 Three months ended
March 31
In millions20212020
Derivatives used for mortgage banking activities:
Interest rate contracts (a)$(322)$654 
Derivatives used for customer-related activities:
Interest rate contracts82 2 
Foreign exchange contracts and other 22 11 
Gains (losses) from customer-related activities (b)104 13 
Derivatives used for other risk management activities:
Foreign exchange contracts and other (b)48 207 
Total gains (losses) from derivatives not designated as hedging instruments$(170)$874 
(a)Included in Residential mortgage, Corporate services and Other noninterest income on our Consolidated Income Statement.
(b)Included in Other noninterest income on our Consolidated Income Statement.
Derivative Assets And Liabilities Offsetting
Table 71: Derivative Assets and Liabilities Offsetting
In millions  Amounts Offset on the
Consolidated Balance Sheet		   Securities Collateral Held/Pledged Under Master Netting Agreements  
Gross
Fair Value		Fair Value
Offset Amount		Cash
Collateral		Net
Fair Value		 Net Amounts
March 31, 2021
Derivative assets
Interest rate contracts:
Over-the-counter cleared $101 $101  $101 
Over-the-counter3,922 $620 $700 2,602  $263 2,339 
Commodity contracts678 190 8 480 480 
Foreign exchange and other contracts215 94 8 113  1 112 
Total derivative assets$4,916 $904 $716 $3,296 (a) $264 $3,032 
Derivative liabilities
Interest rate contracts:
Over-the-counter cleared $158 $158  $158 
Over-the-counter1,770 $653 $792 325  325 
Commodity contracts 653 184 407 62 62 
Foreign exchange and other contracts442 67 96 279  279 
Total derivative liabilities$3,023 $904 $1,295 $824 (b)$824 
December 31, 2020
Derivative assets
Interest rate contracts:
Over-the-counter cleared$48 $48  $48 
Over-the-counter5,803 $430 $1,426 3,947  $531 3,416 
Commodity contracts411 209 4 198 198 
Foreign exchange and other contracts271 81 4 186  1 185 
Total derivative assets$6,533 $720 $1,434 $4,379 (a)$532 $3,847 
Derivative liabilities
Interest rate contracts:
Over-the-counter cleared$42 $42  $42 
Over-the-counter1,740 $462 $1,179 99  99 
Commodity contracts384 182 103 99 99 
Foreign exchange and other contracts590 76 170 344  344 
Total derivative liabilities$2,756 $720 $1,452 $584 (b)$584 
(a)Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet.
(b)Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet.