XML 48 R27.htm IDEA: XBRL DOCUMENT v3.21.2
SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of securities held
The following table presents the major components of securities at amortized cost and fair value:
June 30, 2021December 31, 2020
(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
U.S. Treasury and other$11 $— $— $11 $11 $— $— $11 
State and political subdivisions3 — — 3 3 — — 3 
Mortgage-backed securities, at fair value:
Federal agencies and U.S. government sponsored entities23,960 354 (202)24,112 21,954 571 (19)22,506 
Other/non-agency267 13 — 280 396 26 — 422 
Total mortgage-backed securities, at fair value24,227 367 (202)24,392 22,350 597 (19)22,928 
Collateralized loan obligations, at fair value177 — — 177 — — — — 
Total debt securities available for sale, at fair value$24,418 $367 ($202)$24,583 $22,364 $597 ($19)$22,942 
Federal agencies and U.S. government sponsored entities$1,887 $77 $— $1,964 $2,342 $122 $— $2,464 
Total mortgage-backed securities, at cost 1,887 77 — 1,964 2,342 122 — 2,464 
Asset-backed securities, at cost824 2 — 826 893 — — 893 
Total debt securities held to maturity$2,711 $79 $— $2,790 $3,235 $122 $— $3,357 
Equity securities, at cost$602 $— $— $602 $604 $— $— $604 
Equity securities, at fair value80 — — 80 66 — — 66 
Schedule of investments classified by maturity date The following table presents the amortized cost and fair value of debt securities by contractual maturity as of June 30, 2021. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without incurring penalties.
June 30, 2021
Distribution of Maturities
(in millions)1 Year or LessAfter 1 Year through 5 YearsAfter 5 Years through 10 YearsAfter 10 YearsTotal
Amortized cost:
U.S. Treasury and other$11 $— $— $— $11 
State and political subdivisions— — — 3 3 
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities6 42 1,861 22,051 23,960 
Other/non-agency— — — 267 267 
Collateralized loan obligations— — — 177 177 
Total debt securities available for sale17 42 1,861 22,498 24,418 
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities— — — 1,887 1,887 
Asset-backed securities— — 824 — 824 
Total debt securities held to maturity— — 824 1,887 2,711 
Total amortized cost of debt securities$17 $42 $2,685 $24,385 $27,129 
Fair value:
U.S. Treasury and other$11 $— $— $— $11 
State and political subdivisions— — — 3 3 
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities6 44 1,916 22,146 24,112 
Other/non-agency— — — 280 280 
Collateralized loan obligations— — — 177 177 
Total debt securities available for sale17 44 1,916 22,606 24,583 
Mortgage-backed securities:
Federal agencies and U.S. government sponsored entities— — — 1,964 1,964 
Asset-backed securities— — 826 — 826 
Total debt securities held to maturity— — 826 1,964 2,790 
Total fair value of debt securities$17 $44 $2,742 $24,570 $27,373 
Schedule of income recognized on investment securities
The following table presents realized gains and losses on securities:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2021202020212020
Gains on sale of debt securities$3 $3 $6 $3 
Losses on sale of debt securities— — — — 
Debt securities gains, net$3 $3 $6 $3 
Schedule of financial instruments owned and pledged as collateral
The following table presents the amortized cost and fair value of debt securities pledged:
June 30, 2021December 31, 2020
(in millions)Amortized CostFair ValueAmortized CostFair Value
Pledged against derivatives, to qualify for fiduciary powers, and to secure public and other deposits as required by law$4,996 $5,028 $3,818 $3,937 
Pledged against FHLB borrowed funds266 280 394 423 
Pledged against repurchase agreements49 52 224 231 
Schedule of unrealized loss on investments
The following tables present AFS mortgage-backed debt securities with fair values below their respective carrying values, separated by the duration the securities have been in a continuous unrealized loss position:
June 30, 2021
Less than 12 Months12 Months or LongerTotal
(dollars in millions)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Federal agencies and U.S. government sponsored entities$10,916 ($200)$92 ($2)$11,008 ($202)

December 31, 2020
Less than 12 Months12 Months or LongerTotal
(dollars in millions)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Federal agencies and U.S. government sponsored entities$1,991 ($19)$— $— $1,991 ($19)