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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value [Abstract]  
Fair Value Measurements - Recurring Basis Summary
Table 71: Fair Value Measurements – Recurring Basis Summary
 June 30, 2021December 31, 2020
In millionsLevel 1Level 2Level 3Total
Fair Value		Level 1Level 2Level 3Total
Fair Value
Assets
Residential mortgage loans held for sale$1,385 $119 $1,504 $691 $163 $854 
Commercial mortgage loans held for sale165 52 217 305 57 362 
Other consumer loans held for sale239 239 
Securities available for sale
U.S. Treasury and government agencies$34,627 4,384 39,011 $16,675 4,036 20,711 
Residential mortgage-backed
Agency67,314 67,314 48,911 48,911 
Non-agency86 1,237 1,323 136 1,365 1,501 
Commercial mortgage-backed
Agency2,331 2,331 2,688 2,688 
Non-agency4,068 11 4,079 3,678 113,689 
Asset-backed5,522 175 5,697 4,951 199 5,150 
Other5,230 73 5,303 4,636 72 4,708 
Total securities available for sale34,627 88,935 1,496 125,058 16,675 69,036 1,647 87,358 
Loans748 979 1,727 718 647 1,365 
Equity investments (a)922 1,540 2,697 1,070 1,263 2,629 
Residential mortgage servicing rights1,111 1,111 673 673 
Commercial mortgage servicing rights682 682 569 569 
Trading securities (b)621 1,208 1,829 548 1,690 2,238 
Financial derivatives (b) (c)3 6,357 87 6,447 6,415 118 6,533 
Other assets450 104 554 373 81 454 
Total assets (d)$36,623 $98,902 $6,305 $142,065 $18,666 $78,936 $5,137 $103,035 
Liabilities
Other borrowed funds$732 $76 $2 $810 $661 $44 $2 $707 
Financial derivatives (c) (e) 3,519 200 3,719 2,483 273 2,756 
Other liabilities124 124 43 43 
Total liabilities (f)$732 $3,595 $326 $4,653 $661 $2,527 $318 $3,506 
(a)Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
(b)Included in Other assets on the Consolidated Balance Sheet.
(c)Amounts at June 30, 2021 and December 31, 2020 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 12 Financial Derivatives for additional information related to derivative offsetting.
(d)Total assets at fair value as a percentage of total consolidated assets was 26% and 22% as of June 30, 2021 and December 31, 2020, respectively. Level 3 assets as a percentage of total assets at fair value was 4% and 5% at June 30, 2021 and December 31, 2020, respectively. Level 3 assets as a percentage of total consolidated assets was 1% at both June 30, 2021 and December 31, 2020.
(e)Included in Other liabilities on the Consolidated Balance Sheet.
(f)Total liabilities at fair value as a percentage of total consolidated liabilities was 1% at both June 30, 2021 and December 31, 2020. Level 3 liabilities as a percentage of total liabilities at fair value was 7% and 9% as of June 30, 2021 and December 31, 2020, respectively. Level 3 liabilities as a percentage of total consolidated liabilities was less than 1% at both June 30, 2021 and December 31, 2020.
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 six months ended June 30, 2021 and 2020 follow:
Table 72: Reconciliation of Level 3 Assets and Liabilities
Three Months Ended June 30, 2021
   Total realized / unrealized
gains or losses for the 
period (a)		              Unrealized
gains / losses
on assets and
liabilities held on
Consolidated
Balance Sheet at
June 30, 2021
(a) (c)
Level 3 Instruments Only
In millions		Fair Value Mar. 31, 2021Included in
Earnings		Included
in Other
comprehensive
income (b)		PurchasesSalesIssuancesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3		Impact from BBVA AcquisitionFair
Value June 30, 2021
Assets             
Residential mortgage
    loans held for sale		$165 $(1)$3 $(36)$(12)$5 $(5)(e)$119  
Commercial mortgage
    loans held for sale		56 1  (6)1 52  
Other consumer loans
    held for sale		$239 239 
Securities available for sale
Residential mortgage-
  backed non-agency		1,316 11  (90)1,237  
Commercial mortgage-
  backed non-agency		11  11  
Asset-backed194  $2 (21)175  
Other72  1 2 (2)73  
Total securities
    available for sale		1,593 11 3 2 (113)1,496  
Loans711 10 9 (3)(35)(5)(e)292 979 $10 
Equity investments1,343 157  92 (52)1,540 136  
Residential mortgage
    servicing rights		979 (141)301 $24 (87)35 1,111 (141)
Commercial mortgage
    servicing rights		701 (19) 8 21 (29)682 (18) 
Financial derivatives63 60  2 (43)5 87 57  
Total assets$5,611 $78 $3 $417 $(97)$45 $(318)$5 $(10)$571 $6,305 $44 
Liabilities 
Other borrowed funds$2 $2  
Financial derivatives227 $4  $1 $(39)$7 200 $19  
Other liabilities73 28  $287 (264)124 27  
Total liabilities$302 $32 $1 $287 $(303)$7 $326 $46  
Net gains (losses) $46 (f)        $(2)(g) 
Three Months Ended June 30, 2020
   Total realized / unrealized
gains or losses for the 
period (a)		            Unrealized gains/losses on assets and liabilities held on Consolidated Balance Sheet at June 30, 2020
 (a) (c)
Level 3 Instruments Only
In millions		Fair Value Mar. 31, 2020Included in EarningsIncluded in Other comprehensive income (b)PurchasesSalesIssuancesSettlementsTransfers into Level 3Transfers out of Level 3Fair Value June 30, 2020
Assets             
Residential mortgage loans
    held for sale		$4 $5 $(1)$(3)$83 $88 
Commercial mortgage
    loans held for sale		60 60 
Securities available for sale
Residential mortgage-
    backed non-agency		1,442 $12 $123 (86)1,491 
Commercial mortgage-backed non-agency1919 
Asset-backed202 2 16 (10)210 
Other73 2 (3)72 
Total securities
    available for sale		1,717 14 141 (99)191,792 
Loans655 2 55 (5)(22)(d)$(78)(e)607 $2 
Equity investments1,220 (62)42 (17)1,183 (62)
Residential mortgage
    servicing rights		605 (40)43 $12 (43)577 (41)
Commercial mortgage
    servicing rights		477 1 4 34 (26)490 1 
Financial derivatives135 50 4 (48)141 84 
Total assets$4,873 $(35)$141 $153 $(23)$46 $(241)$102 $(78)$4,938 $(16)
Liabilities
Other borrowed funds$5 $13 $(16)$2 
Financial derivatives185 $28 $1 (5)209 $27 
Other liabilities72 4 26 (19)$2 85 (2)
Total liabilities$262 $32 $1 $39 $(40)$2 $296 $25 
Net gains (losses)$(67)(f)$(41)(g)
Six Months Ended June 30, 2021
   Total realized / unrealized
gains or losses for the 
period (a)		                Unrealized gains / losses on assets and liabilities held on Consolidated Balance Sheet at June 30, 2021 (a) (c)
Level 3 Instruments Only
In millions		Fair
Value
Dec. 31,
2020		Included in
Earnings		Included
in Other
comprehensive
income (b)		PurchasesSalesIssuancesSettlements Transfers
into
Level 3		Transfers
out of
Level 3		 Impact from BBVA AcquisitionFair Value June 30, 2021
Assets               
Residential mortgage
    loans held for sale		$163 $38 $(52)$(28)$8 $(10)(e)$119  
Commercial mortgage
    loans held for sale		57  (6)1 52 $1  
Other consumer loans held for sale$239 239 
Securities available for sale 
Residential mortgage-
    backed non-agency		1,365 $20 $16 (164)1,237 
Commercial mortgage-
    backed non-agency		11 11 
Asset-backed199 1 5 (30)175  
Other72 1 3 (3)  73   
Total securities
    available for sale		1,647 21  22 3 (197)  1,496 
Loans647 20 97 (6)(63)(d)(8)(e)292 979 20 
Equity investments1,263 224  132 (79)1,540 199  
Residential mortgage
    servicing rights		673 154 372 $37 (160)35 1,111 154 
Commercial mortgage
    servicing rights		569 110  21 39 (57)682 111  
Financial derivatives118 46 3 (85)5 87 46  
Total assets$5,137 $575  $22 $666 $(143)$76 $(589)$8 $(18)$571 $6,305 $531  
Liabilities 
Other borrowed funds$2 $1 $(1)$2  
Financial derivatives 273 $(10)$3 (73)$7 200 $(11) 
Other liabilities43 63 317 (299)   124 31  
Total liabilities$318 $53   $3 $318 $(373)$7 $326 $20  
Net gains (losses) $522 (f)           $511 (g) 
Six Months Ended June 30, 2020
   Total realized / unrealized
gains or losses for the 
period (a)		              Unrealized gains/losses on assets and liabilities held on Consolidated Balance Sheet at June 30, 2020
 (a) (c)
Level 3 Instruments Only
In millions		Fair
Value
Dec. 31,
2019		Included in
Earnings		Included
in Other
comprehensive
income (b)		PurchasesSalesIssuancesSettlementsTransfers
into
Level 3		Transfers
out of
Level 3		Fair Value June 30, 2020
Assets             
Residential mortgage loans
    held for sale		$2 $7 $(2)$(3)$87 $(3)(e)$88 
Commercial mortgage
    loans held for sale		64 $(1)(3)60 $(1)
Securities available for sale
Residential mortgage-
    backed non-agency		1,741 28 $(99)(179)1,491 
Commercial mortgage-
    backed non-agency		1919 
Asset-backed240 4 (13)(21)210 
Other74 (3)4 (3)72 
Total securities
    available for sale		2,055 32 (115)4 (203)19 1,792 
Loans300 13 71 (31)340 (86)(e)607 13 
Equity investments1,276 (131)113 (75)1,183 (125)
Residential mortgage
    servicing rights		995 (419)61 $22 (82)577 (420)
Commercial mortgage
    servicing rights		649 (166)23 45 (61)490 (166)
Financial derivatives54 151 6 (70)141 158 
Total assets$5,395 $(521)$(115)$285 $(108)$67 $(82)$106 $(89)$4,938 $(541)
Liabilities
Other borrowed funds$7 $25 $(30)$2 
Financial derivatives200 $36 $2 (29)209 $37 
Other liabilities137 6 37 (97)$2 85 (8)
Total liabilities$344 $42 $2 $62 $(156)$2 $296 $29 
Net gains (losses)$(563)(f)$(570)(g)
(a)Losses for assets are bracketed while losses for liabilities are not.
(b)The difference in unrealized gains and losses for the period included in Other comprehensive income and changes in unrealized gains and losses for the period included in Other comprehensive income for securities available for sale held at the end of the reporting period were not significant.
(c)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.
(d)Upon adoption of ASU 2016-13 - Credit Losses, we discontinued the accounting for purchased impaired loans and elected the one-time fair value option election for some of these loans and certain nonperforming loans.
(e)Residential mortgage loan transfers out of Level 3 are primarily driven by residential mortgage loans transferring to OREO as well as reclassification of mortgage loans held for sale to held for investment.
(f)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.
(g)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.
Fair Value Measurements - Recurring Quantitative Information
Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows:

Table 73: Fair Value Measurements – Recurring Quantitative Information

June 30, 2021
Level 3 Instruments Only
Dollars in millions		Fair ValueValuation TechniquesUnobservable InputsRange (Weighted-Average) (a)
Commercial mortgage loans held for sale$52 Discounted cash flowSpread over the benchmark curve (b)
620bps - 7,880bps (4,950bps)
Other consumer loans held for sale239 Consensus pricing (c)Loss severity
4.8% - 95.0% (5.6%)
Residential mortgage-backed
    non-agency securities		1,237 Priced by a third-party vendor using a discounted cash flow pricing modelConstant prepayment rate
1.0% - 30.7% (11.1%)
Constant default rate
0.0% - 16.9% (4.7%)
Loss severity
25.0% -95.7% (48.1%)
Spread over the benchmark curve (b)
176bps weighted-average
Asset-backed securities175 Priced by a third-party vendor using a discounted cash flow pricing modelConstant prepayment rate
1.0% - 40.0% (9.4%)
Constant default rate
1.4% - 6.0% (2.9%)
Loss severity
8.0% - 100.0% (54.5%)
Spread over the benchmark curve (b)
197bps weighted-average
Loans - Residential real estate662 Consensus pricing (c)Cumulative default rate
3.6% - 100.0% (79.7%)
Loss severity
0.0% - 100.0% (9.6%)
Discount rate
4.8% - 6.8% (5.1%)
125 Discounted cash flowLoss severity
8.0% weighted-average
Discount rate
3.2% weighted-average
Loans - Home equity19 Consensus pricing (c)Cumulative default rate
3.6% -100.0% (83.9%)
Loss severity
0.0% - 98.4% (29.6%)
Discount rate
4.8% - 6.8% (6.2%)
173 Consensus pricing (c)Credit and liquidity discount
0.0% - 100.0% (35.7%)
Equity investments1,540 Multiple of adjusted earningsMultiple of earnings
4.0x - 28.7x (9.2x)
Residential mortgage servicing rights1,111 Discounted cash flowConstant prepayment rate
0.0% - 37.8% (12.9%)
Spread over the benchmark curve (b)
362bps - 2,661bps (881bps)
Commercial mortgage servicing rights682 Discounted cash flowConstant prepayment rate
4.6% - 14.3% (5.2%)
Discount rate
5.2% - 7.9% (7.6%)
Financial derivatives - Swaps related to
    sales of certain Visa Class B
    common shares		(182)Discounted cash flowEstimated conversion factor of Visa Class B shares into Class A shares
162.3% weighted-average
Estimated annual growth rate of Visa Class A share price
16.0%
Estimated length of litigation resolution date
Q2 2022
Insignificant Level 3 assets, net of
    liabilities (d)		146 
Total Level 3 assets, net of liabilities (e)$5,979 
December 31, 2020
Level 3 Instruments Only
Dollars in millions		Fair ValueValuation TechniquesUnobservable InputsRange (Weighted-Average) (a)
Commercial mortgage loans held for sale$57 Discounted cash flowSpread over the benchmark curve (b)
630bps - 5,275bps (3,406bps)
Residential mortgage-backed
    non-agency securities		1,365 Priced by a third-party vendor using a discounted cash flow pricing modelConstant prepayment rate
1.0% - 37.6% (8.6%)
Constant default rate
0.0% - 12.2% (4.7%)
Loss severity
25.0% - 95.7% (48.8%)
Spread over the benchmark curve (b)
242bps weighted-average
Asset-backed securities199 Priced by a third-party vendor using a discounted cash flow pricing modelConstant prepayment rate
1.0% -22.0% (7.4%)
Constant default rate
1.0% - 6.0% (3.3%)
Loss severity
30.0% - 100.0% (58.1%)
Spread over the benchmark curve (b)
291bps weighted-average
Loans - Residential real estate434 Consensus pricing (c)Cumulative default rate
3.6% - 100.0% (82.1%)
Loss severity
0.0% - 100.0% (11.2%)
Discount rate
4.8% - 6.8% (5.1%)
132 Discounted cash flowLoss severity
8.0% weighted-average
Discount rate
3.2% weighted-average
Loans - Home equity21 Consensus pricing (c)Cumulative default rate
3.6% - 100.0% (88.5%)
Loss severity
0.0% -98.4% (33.3%)
Discount rate
4.8% - 6.8% (6.3%)
60 Consensus pricing (c)Credit and Liquidity discount
17.5% -97.0% (57.7%)
Equity investments1,263 Multiple of adjusted earningsMultiple of earnings
5.0x - 15.9x (8.7x)
Residential mortgage servicing rights673 Discounted cash flowConstant prepayment rate
0.0% - 77.5% (21.1%)
Spread over the benchmark curve (b)
325bps - 2,783bps (922bps)
Commercial mortgage servicing rights569 Discounted cash flowConstant prepayment rate
4.0% - 16.1% (4.9%)
Discount rate
4.7% - 7.8% (7.3%)
Financial derivatives - Swaps related to
    sales of certain Visa Class B
    common shares		(252)Discounted cash flowEstimated conversion factor of Visa Class B shares into Class A shares
162.3% weighted-average
Estimated annual growth rate of Visa Class A share price
16.0%
Estimated length of litigation
    resolution date
Q2 2022
Insignificant Level 3 assets, net of
    liabilities (d)		298  
Total Level 3 assets, net of liabilities (e)$4,819    
(a)Unobservable inputs were weighted by the relative fair value of the instruments.
(b)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.
(c)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.
(d)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 securities, residential mortgage loans held for sale, other assets, other borrowed funds and other liabilities.
(e)Consisted of total Level 3 assets of $6.3 billion and total Level 3 liabilities of $0.3 billion as of June 30, 2021 and $5.1 billion and $0.3 billion as of December 31, 2020, respectively.
Fair Value Measurements - Nonrecurring Assets measured at fair value on a nonrecurring basis follow:
Table 74: Fair Value Measurements – Nonrecurring (a) (b) (c)
 Fair Value Gains (Losses)
Three months ended		Gains (Losses)
Six months ended
In millionsJune 30
2021		December 31
2020		June 30
2021		June 30
2020		June 30
2021		June 30
2020
Assets
Nonaccrual loans$266 $332 $5 $(31)$(4)$(56)
OREO and foreclosed assets4 18 (1)(2)
Long-lived assets18 20 (9)(2)(11)(3)
Total assets$288 $370 $(4)$(34)$(15)$(61)
(a)All Level 3 for the periods presented.
(b)Valuation techniques applied were fair value of property or collateral.
(c)Unobservable inputs used were appraised value/sales price, broker opinions or projected income/required improvement costs. Additional quantitative information was not meaningful for the periods presented.
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 75: Fair Value Option – Fair Value and Principal Balances
June 30, 2021December 31, 2020
In millionsFair ValueAggregate Unpaid
Principal Balance		DifferenceFair ValueAggregate Unpaid
Principal Balance		Difference
Assets
Residential mortgage loans held for sale
Accruing loans less than 90 days past due$1,451 $1,404 $47 $831 $793 $38 
Accruing loans 90 days or more past due3 3 4 4 
Nonaccrual loans50 59 (9)20 24 (4)
Total$1,504 $1,466 $38 $855 $821 $34 
Commercial mortgage loans held for sale (a)
Accruing loans less than 90 days past due$217 $234 $(17)$357 $370 $(13)
Nonaccrual loans5 6 (1)
Total$217 $234 $(17)$362 $376 $(14)
Other consumer loans held for sale
Accruing loans less than 90 days past due$239 $252 $(13)
Accruing loans 90 days or more past due1(1)
Total$239 $253 $(14)
Loans
Accruing loans less than 90 days past due$714 $733 $(19)$519 $530 $(11)
Accruing loans 90 days or more past due290 308 (18)283 295 (12)
Nonaccrual loans723 1,013 (290)563 820 (257)
Total$1,727 $2,054 $(327)$1,365 $1,645 $(280)
Other assets$98 $102 $(4)$81 $69 $12 
Liabilities
Other borrowed funds$26 $26 $32 $33 $(1)
(a)There were no accruing loans 90 days or more past due within this category at June 30, 2021 or December 31, 2020.
Fair Value Option - Changes in Fair Value
The changes in fair value for items for which we elected the fair value option are as follows:

Table 76: Fair Value Option – Changes in Fair Value (a)
Gains (Losses)Gains (Losses)
 Three months endedSix months ended
June 30June 30June 30June 30
In millions2021202020212020
Assets
Residential mortgage loans held for sale$57 $52 $73 $98 
Commercial mortgage loans held for sale$26 $12 $46 $60 
Loans$17 $8 $31 $26 
Other assets$8 $9 $22 $(27)
(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 77: Additional Fair Value Information Related to Other Financial Instruments

 CarryingFair Value
In millionsAmountTotalLevel 1Level 2Level 3
June 30, 2021
Assets
Cash and due from banks$8,724 $8,724 $8,724 
Interest-earning deposits with banks72,447 72,447 $72,447 
Securities held to maturity1,489 1,598 891 484 $223 
Net loans (excludes leases)280,872 286,818 286,818 
Other assets4,342 4,103 4,038 65 
Total assets$367,874 $373,690 $9,615 $76,969 $287,106 
Liabilities
Time deposits$19,885 $19,771 $19,771 
Borrowed funds34,003 34,740 33,084 $1,656 
Unfunded lending related commitments645 645 645 
Other liabilities428 428 428 
Total liabilities$54,961 $55,584  $53,283 $2,301 
December 31, 2020
Assets
Cash and due from banks$7,017 $7,017 $7,017 
Interest-earning deposits with banks85,173 85,173 $85,173 
Securities held to maturity1,445 1,604 920 489 $195 
Net loans (excludes leases)228,788 233,688 233,688 
Other assets3,601 3,600 3,559 41 
Total assets$326,024 $331,082 $7,937 $89,221 $233,924 
Liabilities
Time deposits$19,692 $19,662 $19,662 
Borrowed funds36,488 37,192 35,571 $1,621 
Unfunded lending related commitments584 584 584 
Other liabilities413 413 413 
Total liabilities$57,177 $57,851 $55,646 $2,205