SECURITIES (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Schedule of securities held

The following table provides the major components of securities at amortized cost and fair value:

	December 31, 2014									December 31, 2013
(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale
U.S. Treasury		$15		$—		$—			$15		$15		$—		$—			$15
State and political subdivisions	10		—		—			10		11		—		(1		)	10
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	17,683		301		(50		)	17,934		14,970		151		(128		)	14,993
Other/non-agency	703		4		(35		)	672		992		5		(45		)	952
Total mortgage-backed securities	18,386		305		(85		)	18,606		15,962		156		(173		)	15,945
Total debt securities available for sale	18,411		305		(85		)	18,631		15,988		156		(174		)	15,970
Marketable equity securities	10		3		—			13		10		3		—			13
Other equity securities	12		—		—			12		12		—		—			12
Total equity securities available for sale	22		3		—			25		22		3		—			25
Total securities available for sale		$18,433		$308		($85	)		$18,656		$16,010		$159		($174	)		$15,995
Securities Held to Maturity
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities		$3,728		$22		($31	)		$3,719		$2,940		$—		($33	)		$2,907
Other/non-agency	1,420		54		—			1,474		1,375		—		(25		)	1,350
Total securities held to maturity		$5,148		$76		($31	)		$5,193		$4,315		$—		($58	)		$4,257
Other Investment Securities
Federal Reserve Bank stock		$477		$—		$—			$477		$462		$—		$—			$462
Federal Home Loan Bank stock	390		—		—			390		468		—		—			468
Venture capital and other investments	5		—		—			5		5		—		—			5
Total other investment securities		$872		$—		$—			$872		$935		$—		$—			$935

Schedule of unrealized loss on investments

The following tables summarize those securities whose fair values are below carrying values, segregated by those that have been in a continuous unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer:

	December 31, 2014
	Less than 12 Months						12 Months or Longer						Total
(dollars in millions)	Number of Issues	Fair Value		Gross Unrealized Losses			Number of Issues	Fair Value		Gross Unrealized Losses			Number of Issues	Fair Value		Gross Unrealized Losses
State and political subdivisions	—		$—		$—		1		$10		$—		1		$10		$—
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	75	3,282		(24		)	52	1,766		(57		)	127	5,048		(81		)
Other/non-agency	6	80		(2		)	17	397		(33		)	23	477		(35		)
Total mortgage-backed securities	81	3,362		(26		)	69	2,163		(90		)	150	5,525		(116		)
Total	81		$3,362		($26	)	70		$2,173		($90	)	151		$5,535		($116	)

	December 31, 2013
	Less than 12 Months						12 Months or Longer						Total
(dollars in millions)	Number of Issues	Fair Value		Gross Unrealized Losses			Number of Issues	Fair Value		Gross Unrealized Losses			Number of Issues	Fair Value		Gross Unrealized Losses
State and political subdivisions	1		$10		($1	)	—		$—		$—		1		$10		($1	)
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	263	12,067		(158		)	7	20		(2		)	270	12,087		(160		)
Other/non-agency	22	1,452		(34		)	19	490		(37		)	41	1,942		(71		)
Total mortgage-backed securities	285	13,519		(192		)	26	510		(39		)	311	14,029		(231		)
Total	286		$13,529		($193	)	26		$510		($39	)	312		$14,039		($232	)

Schedule of credit losses recognized in earnings

The following table presents the cumulative credit related losses recognized in earnings on debt securities held by the Company as of:

	Year Ended December 31,
(in millions)	2014			2013			2012
Cumulative balance at beginning of period		$56			$55			$38
Credit impairments recognized in earnings on securities not previously impaired	—			—			1
Credit impairments recognized in earnings on securities that have been previously impaired	10			8			23
Reductions due to increases in cash flow expectations on impaired securities	(4		)	(7		)	(7		)
Cumulative balance at end of period		$62			$56			$55

Schedule of investments classified by maturity date

The amortized cost and fair value of debt securities at December 31, 2014 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Distribution of Maturities
(in millions)	1 Year or Less		1-5 Years		5-10 Years		After 10 Years		Total
Amortized Cost:
Debt securities available for sale
U.S. Treasury		$15		$—		$—		$—		$15
State and political subdivisions	—		—		—		10		10
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	2		53		2,318		15,310		17,683
Other/non-agency	—		51		57		595		703
Total debt securities available for sale	17		104		2,375		15,915		18,411
Debt securities held to maturity
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	—		—		—		3,728		3,728
Other/non-agency	—		—		—		1,420		1,420
Total debt securities held to maturity	—		—		—		5,148		5,148
Total amortized cost of debt securities		$17		$104		$2,375		$21,063		$23,559
Fair Value:
Debt securities available for sale
U.S. Treasury		$15		$—		$—		$—		$15
State and political subdivisions	—		—		—		10		10
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	2		56		2,333		15,543		17,934
Other/non-agency	—		52		58		562		672
Total debt securities available for sale	17		108		2,391		16,115		18,631
Debt securities held to maturity
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities	—		—		—		3,719		3,719
Other/non-agency	—		—		—		1,474		1,474
Total debt securities held to maturity	—		—		—		5,193		5,193
Total fair value of debt securities		$17		$108		$2,391		$21,308		$23,824

Schedule of income recognized on investment securities

The following table reports the amounts recognized in interest income from investment securities on the Consolidated Statement of Operations:

	Year Ended December 31,
(in millions)	2014		2013		2012
Taxable		$619		$477		$618
Non-taxable	—		—		2
Interest-bearing cash and due from banks and deposits in banks	5		11		4
Total interest income from investment securities		$624		$488		$624

Realized gains and losses on AFS securities are shown below:

	Year Ended December 31,
(in millions)	2014			2013		2012
Gains on sale of debt securities		$33			$144		$93
Losses on sale of debt securities	(5		)	—		—
Gains on sale of marketable equity securities	—			—		2
Total		$28			$144		$95

Schedule of financial instruments owned and pledged as collateral

The amortized cost and fair value of securities pledged are shown below:

	December 31, 2014				December 31, 2013
(in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Pledged against repurchase agreements		$3,650		$3,701		$5,016		$4,998
Pledged against FHLB borrowed funds	1,355		1,407		1		1
Pledged against derivatives, to qualify for fiduciary powers, and to secure public and other deposits as required by law	3,453		3,520		2,818		2,853

Schedule of effect of repurchase agreements on balance sheet accounts

The effects of this offsetting on the Consolidated Balance Sheets are presented in the following table:

	December 31, 2014								December 31, 2013
(in millions)	Gross Assets (Liabilities)			Gross Assets (Liabilities) Offset		Net Amounts of Assets (Liabilities)			Gross Assets (Liabilities)			Gross Assets (Liabilities) Offset		Net Amounts of Assets (Liabilities)
Securities purchased under agreements to resell		$—			$—		$—			$—			$—		$—
Securities sold under agreements to repurchase	(2,600		)	—		(2,600		)	(3,000		)	—		(3,000		)