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Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2012

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible assets consisted of the following:



At December 31,	2012		2011
	(in millions)
Mortgage servicing rights	$	179	$	227
Purchased credit card relationships	60		—
Other	8		15
Total other intangible assets	$	247	$	242

Fair Value of Residential MSRs

Fair value of residential MSRs is calculated using the following critical assumptions:



At December 31,	2012		2011
Annualized constant prepayment rate (“CPR”)	22.4	%	21.4	%
Constant discount rate	11.3	%	11.3	%
Weighted average life	3.4		3.4

Residential MSRs Activity

Residential MSRs activity is summarized in the following table:



Year Ended December 31,	2012			2011
	(in millions)
Fair value of MSRs:
Beginning balance	$	220		$	394
Additions related to loan sales	24			39
Changes in fair value due to:
Change in valuation inputs or assumptions used in the valuation models	(15		)	(136		)
Realization of cash flows	(61		)	(77		)
Ending balance	$	168		$	220

Residential Mortgage Loans Serviced for Others

Information regarding residential mortgage loans serviced for others, which are not included in the consolidated balance sheet, is summarized in the following table:



At December 31,	2012		2011
	(in millions)
Outstanding principal balances at period end	$	32,041	$	37,839
Custodial balances maintained and included in noninterest bearing deposits at period end	$	810	$	838

- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

+ References+ Details