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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Schedule of other comprehensive income
The following tables present the changes in the balances, net of income taxes, of each component of AOCI:
 
 
As of and for the three months ended June 30,
(in millions)
Net Unrealized Gains (Losses) on Derivatives
 
Net Unrealized Gains (Losses) on Securities
 
Defined Benefit Pension Plans
 
Total AOCI

Balance at beginning of period April 1, 2015

($6
)
 

$141

 

($375
)
 

($240
)
Other comprehensive income (loss) before reclassifications
(5
)
 
(110
)
 
—

 
(115
)
Other-than-temporary impairment not recognized in earnings on securities
—

 
1

 
—

 
1

Amounts reclassified from other comprehensive (loss) income
(2
)
 
(5
)
 
2

 
(5
)
Net other comprehensive income (loss)
(7
)
 
(114
)
 
2

 
(119
)
Balance at end of period June 30, 2015

($13
)
 

$27

 

($373
)
 

($359
)
Balance at beginning of period April 1, 2016

$35

 

$96

 

($367
)
 

($236
)
Other comprehensive income before reclassifications
13

 
64

 
—

 
77

Other-than-temporary impairment not recognized in earnings on securities
—

 
4

 
—

 
4

Amounts reclassified from other comprehensive (loss) income
(9
)
 
2

 
3

 
(4
)
Net other comprehensive income
4

 
70

 
3

 
77

Balance at end of period June 30, 2016

$39

 

$166

 

($364
)
 

($159
)
 
 
As of and for the six month ended June 30,
(in millions)
Net Unrealized Gains (Losses) on Derivatives
 
Net Unrealized Gains (Losses) on Securities
 
Defined Benefit Pension Plans
 
Total AOCI

Balance at beginning of period January 1, 2015

($69
)
 

$74

 

($377
)
 

($372
)
Other comprehensive income (loss) before reclassifications
60

 
(20
)
 
—

 
40

Other-than-temporary impairment not recognized in earnings on securities
—

 
(18
)
 
—

 
(18
)
Amounts reclassified from other comprehensive (loss) income
(4
)
 
(9
)
 
4

 
(9
)
Net other comprehensive income
56

 
(47
)
 
4

 
13

Balance at end of period June 30, 2015

($13
)
 

$27

 

($373
)
 

($359
)
Balance at beginning of period January 1, 2016

$10

 

($28
)
 

($369
)
 

($387
)
Other comprehensive income before reclassifications
46

 
218

 
—

 
264

Other-than-temporary impairment not recognized in earnings on securities
—

 
(21
)
 
—

 
(21
)
Amounts reclassified from other comprehensive (loss) income
(17
)
 
(3
)
 
5

 
(15
)
Net other comprehensive income
29

 
194

 
5

 
228

Balance at end of period June 30, 2016

$39

 

$166

 

($364
)
 

($159
)
Schedule of reclassification out of accumulated other comprehensive income
The following table reports the amounts reclassified out of each component of AOCI and into the Consolidated Statements of Operations:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
(in millions)
2016

 
2015

 
2016

 
2015

 
Details about AOCI Components
 
 
 
 
 
 
 
Affected Line Item in the Consolidated Statements of Operations
Reclassification adjustment for net derivative gains (losses) included in net income:

$21

 

$17

 

$43

 

$35

Interest income
 
(8
)
 
(14
)
 
(16
)
 
(29
)
Interest expense
 
13

 
3

 
27

 
6

Income before income tax expense
 
4

 
1

 
10

 
2

Income tax expense
 

$9

 

$2

 

$17

 

$4

Net income
Reclassification of net securities gains (losses) to net income:

$4

 

$9

 

$13

 

$17

Securities gains, net
 
(7
)
 
(2
)
 
(8
)
 
(3
)
Net securities impairment losses recognized in earnings
 
(3
)
 
7

 
5

 
14

Income before income tax expense
 
(1
)
 
2

 
2

 
5

Income tax expense
 

($2
)
 

$5

 

$3

 

$9

Net income
Reclassification of changes related to defined benefit pension plans:

($4
)
 

($4
)
 

($8
)
 

($7
)
Salaries and employee benefits
 
(4
)
 
(4
)
 
(8
)
 
(7
)
Income before income tax expense
 
(1
)
 
(2
)
 
(3
)
 
(3
)
Income tax expense
 

($3
)
 

($2
)
 

($5
)
 

($4
)
Net income
Total reclassification gains (losses)

$4

 

$5

 

$15

 

$9

Net income
The following table presents the effects to net income of the amounts reclassified out of AOCI:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in millions)
2016

 
2015

 
2016

 
2015

Net interest income (includes $13, $3, $27 and $6 of AOCI reclassifications, respectively)

$923

 

$840

 

$1,827

 

$1,676

Provision for credit losses
90

 
77

 
181

 
135

Noninterest income (includes ($3), $7, $5 and $14 of AOCI reclassifications, respectively)
355

 
360

 
685

 
707

Noninterest expense (includes $4, $4, $8 and $7 of AOCI reclassifications, respectively)
827

 
841

 
1,638

 
1,651

Income before income tax expense
361

 
282

 
693

 
597

Income tax expense (includes $2, $1, $9 and $4 income tax net expense (benefit) from reclassification items, respectively)
118

 
92

 
227

 
198

Net income

$243

 

$190

 

$466

 

$399