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Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Value of the Securities Available-for-Sale and Held-to-Maturity
Our securities available-for-sale and securities held-to-maturity portfolios consisted of the following:
September 30, 2024Amortized
Cost		Allowance for Credit LossesUnrealized
Gains		Unrealized
Losses		Fair
Value
 (in millions)
Securities available-for-sale:
U.S. Treasury$9,318 $— $13 $(219)$9,112 
U.S. Government sponsored enterprises:
Mortgage-backed securities3,325 — — (565)2,760 
Collateralized mortgage obligations1,349 — — (265)1,084 
Direct agency obligations1,406 — 1 (7)1,400 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities5,430 — 2 (318)5,114 
Collateralized mortgage obligations2,668 — — (438)2,230 
Direct agency obligations167 — 3 — 170 
Asset-backed securities collateralized by:
Home equity11 — — (1)10 
Other102 — — (10)92 
Foreign debt securities(1)
3,970 — 1 (1)3,970 
Total available-for-sale securities$27,746 $— $20 $(1,824)$25,942 
Securities held-to-maturity:
U.S. Treasury$2,797 $— $7 $(6)$2,798 
U.S. Government sponsored enterprises:
Mortgage-backed securities1,020 — — (46)974 
Collateralized mortgage obligations257 — 4 (10)251 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities11,594 — 92 (130)11,556 
Collateralized mortgage obligations1,567 — — (113)1,454 
Obligations of U.S. states and political subdivisions3 — — — 3 
Total held-to-maturity securities$17,238 $— $103 $(305)$17,036 
December 31, 2023Amortized
Cost		Allowance for Credit LossesUnrealized
Gains		Unrealized
Losses		Fair
Value
 (in millions)
Securities available-for-sale:
U.S. Treasury$7,489 $— $22 $(225)$7,286 
U.S. Government sponsored enterprises:
Mortgage-backed securities5,864 — — (845)5,019 
Collateralized mortgage obligations1,436 — — (300)1,136 
Direct agency obligations1,719 — — (38)1,681 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities5,804 — 1 (378)5,427 
Collateralized mortgage obligations2,865 — — (506)2,359 
Direct agency obligations215 — 3 (3)215 
Asset-backed securities collateralized by:
Home equity13 — — (1)12 
Other103 — — (11)92 
Foreign debt securities(1)
2,472 — — (3)2,469 
Total available-for-sale securities$27,980 $— $26 $(2,310)$25,696 
Securities held-to-maturity:
U.S. Treasury$1,917 $— $1 $(18)$1,900 
U.S. Government sponsored enterprises:
Mortgage-backed securities1,069 — — (68)1,001 
Collateralized mortgage obligations297 — 3 (16)284 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities10,043 — 43 (180)9,906 
Collateralized mortgage obligations1,745 — — (152)1,593 
Obligations of U.S. states and political subdivisions4 — — — 4 
Asset-backed securities collateralized by residential mortgages1 — — — 1 
Total held-to-maturity securities$15,076 $— $47 $(434)$14,689 
(1)Foreign debt securities represent public sector entity, bank or corporate debt.
Gross Unrealized Losses and Related Fair Value The following table summarizes gross unrealized losses and related fair values for securities available-for-sale by major security type at September 30, 2024 and December 31, 2023 classified as to the length of time the losses have existed:
 One Year or LessGreater Than One Year
Number
of
Securities		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment		Number
of
Securities		Gross
Unrealized
Losses		Aggregate
Fair Value
of Investment
 (dollars are in millions)
At September 30, 2024
U.S. Treasury12 $(9)$3,118 38 $(210)$4,288 
U.S. Government sponsored enterprises1 — 71 143 (837)4,735 
U.S. Government agency issued or guaranteed— — — 137 (756)6,794 
Asset-backed securities— — — 6 (11)103 
Foreign debt securities18 (1)1,530 1 — 50 
Securities available-for-sale31 $(10)$4,719 325 $(1,814)$15,970 
At December 31, 2023
U.S. Treasury3 $(1)$1,008 41 $(224)$4,906 
U.S. Government sponsored enterprises2 — 80 293 (1,183)7,701 
U.S. Government agency issued or guaranteed— — — 151 (887)7,765 
Asset-backed securities— — — 6 (12)104 
Foreign debt securities17 (1)1,801 4 (2)183 
Securities available-for-sale22 $(2)$2,889 495 $(2,308)$20,659 
Realized Gains and Losses on Investment Securities Transactions Attributable to Available-for-Sale Securities The following table summarizes realized gains and losses on investment securities transactions attributable to available-for-sale securities:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
 (in millions)
Gross realized gains$1 $— $15 $3 
Gross realized losses(149)— (153)— 
Net realized gains (losses)$(148)$— $(138)$3 
Distribution of Maturities of Debt Securities with the Approximate Yield of the Portfolio The table below also reflects the distribution of maturities of debt securities held at September 30, 2024, together with the approximate yield of the portfolio. The yields shown are calculated by dividing annualized interest income, including the accretion of discounts and the amortization of premiums, by the amortized cost of securities outstanding at September 30, 2024.
 Within
One Year		After One
But Within
Five Years		After Five
But Within
Ten Years		After Ten
Years
AmountYieldAmountYieldAmountYieldAmountYield
 (dollars are in millions)
Available-for-sale:
U.S. Treasury$243 .98 %$3,815 2.17 %$2,380 3.97 %$2,880 2.65 %
U.S. Government sponsored enterprises
579 1.15 178 2.99 650 1.97 4,673 1.80 
U.S. Government agency issued or guaranteed
20 .81 — — 2 4.65 8,243 2.92 
Asset-backed securities— — 54 4.40 47 3.93 12 4.85 
Foreign debt securities1,825 .34 2,054 4.36 91 3.81 — — 
Total amortized cost$2,667 .58 %$6,101 2.95 %$3,170 3.55 %$15,808 2.54 %
Total fair value$2,664 $6,057 $3,153 $14,068 
Held-to-maturity:
U.S. Treasury$— — %$2,048 3.65 %$749 3.71 %$— — %
U.S. Government sponsored enterprises
84 2.30 219 2.82 610 3.70 364 2.86 
U.S. Government agency issued or guaranteed
— — 1 3.94 12 5.91 13,148 4.52 
Obligations of U.S. states and political subdivisions
1 4.04 2 3.77 — — — — 
Total amortized cost$85 2.32 %$2,270 3.57 %$1,371 3.73 %$13,512 4.48 %
Total fair value$85 $2,266 $1,346 $13,339 
Equity Securities Not Classified as Trading Equity securities that are not classified as trading and are included in other assets consisted of the following:
September 30, 2024December 31, 2023
 (in millions)
Equity securities carried at fair value$260 $270 
Equity securities without readily determinable fair values12 13