RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents the changes in the balances, net of income taxes, of each component of AOCI:

(in millions)	Net Unrealized Gains (Losses) on Derivatives			Net Unrealized Gains (Losses) on Securities			Defined Benefit Pension Plans			Total AOCI
Balance at January 1, 2014		($298	)		($91	)		($259	)		($648	)
Other comprehensive income before reclassifications	59			71			—			130
Other than temporary impairment not recognized in earnings on securities	—			(19		)	—			(19		)
Amounts reclassified from other comprehensive income	7			(14		)	1			(6		)
Net other comprehensive income	66			38			1			105
Balance at March 31, 2014		($232	)		($53	)		($258	)		($543	)

(in millions)	Net Unrealized Gains (Losses) on Derivatives			Net Unrealized Gains (Losses) on Securities			Defined Benefit Pension Plans			Total AOCI
Balance at January 1, 2015		($69	)		$74			($377	)		($372	)
Other comprehensive income before reclassifications	65			90			—			155
Other than temporary impairment not recognized in earnings on securities	—			(19		)	—			(19		)
Amounts reclassified from other comprehensive income	(2		)	(4		)	2			(4		)
Net other comprehensive income	63			67			2			132
Balance at March 31, 2015		($6	)		$141			($375	)		($240	)

The following table reports the amounts reclassified out of each component of AOCI and into the unaudited interim Consolidated Statements of Operations:

	Three Months Ended March 31,
(in millions)	2015			2014
Details about AOCI Components							Affected Line Item in the unaudited interim Consolidated Statements of Operations
Reclassification adjustment for net derivative gains (losses) included in net income (loss):		$18			$18		Interest income
	(15		)	(29		)	Interest expense
	—			—			Other income
	3			(11		)	Income (loss) before income tax expense (benefit)
	1			(4		)	Income tax expense (benefit)
		$2			($7	)	Net income (loss)
Reclassification of net securities gains (losses) to net income (loss):		$8			$25		Securities gains, net
	(1		)	(4		)	Net impairment losses recognized in earnings
	7			21			Income (loss) before income tax expense (benefit)
	3			7			Income tax expense (benefit)
		$4			$14		Net income (loss)
Reclassification of changes related to defined benefit pension plans:		($3	)		($2	)	Salaries and employee benefits
	(3		)	(2		)	Income (loss) before income tax expense (benefit)
	(1		)	(1		)	Income tax expense (benefit)
		($2	)		($1	)	Net income (loss)
Total reclassification gains (losses)		$4			$6		Net income (loss)

The following table presents the effects to net income of the amounts reclassified out of AOCI:

	Three Months Ended March 31,
(in millions)	2015		2014
Net interest income (includes $3 and ($11) of AOCI reclassifications, respectively)		$836		$808
Provision for credit losses	58		121
Noninterest income (includes $7 and $21 of AOCI reclassifications, respectively)	347		358
Noninterest expense (includes $3 and $2 of AOCI reclassifications, respectively)	810		810
Income before income tax expense	315		235
Income tax expense (includes $3 and $2 income tax net expense from reclassification items, respectively)	106		69
Net income		$209		$166