XML 60 R48.htm IDEA: XBRL DOCUMENT v3.25.0.1
Securities (Tables)
 12 Months Ended
Dec. 31, 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:
December 31, 2024Amortized
Cost		Allowance for Credit LossesUnrealized
Gains		Unrealized
Losses		Fair
Value
 (in millions)
Securities available-for-sale:
U.S. Treasury$10,250 $— $7 $(205)$10,052 
U.S. Government sponsored enterprises:
Mortgage-backed securities3,242 — — (691)2,551 
Collateralized mortgage obligations1,324 — — (309)1,015 
Direct agency obligations730 — 1 (8)723 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities5,286 — — (543)4,743 
Collateralized mortgage obligations2,602 — — (528)2,074 
Direct agency obligations156 — 5 — 161 
Asset-backed securities collateralized by:
Home equity11 — — (1)10 
Other98 — — (11)87 
Foreign debt securities(1)
3,522 — 1 (2)3,521 
Total available-for-sale securities$27,221 $— $14 $(2,298)$24,937 
Securities held-to-maturity:
U.S. Treasury$2,807 $— $— $(86)$2,721 
U.S. Government sponsored enterprises:
Mortgage-backed securities920 — — (77)843 
Collateralized mortgage obligations245 — 2 (13)234 
U.S. Government agency issued or guaranteed:
Mortgage-backed securities12,313 — 6 (449)11,870 
Collateralized mortgage obligations1,511 — — (152)1,359 
Obligations of U.S. states and political subdivisions2 — — — 2 
Total held-to-maturity securities$17,798 $— $8 $(777)$17,029 
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 December 31, 2024 and 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 December 31, 2024
U.S. Treasury14 $(15)$3,402 38 $(190)$4,055 
U.S. Government sponsored enterprises— — — 137 (1,008)3,871 
U.S. Government agency issued or guaranteed4 (28)526 137 (1,043)6,311 
Asset-backed securities— — — 6 (12)97 
Foreign debt securities22 (2)2,534 1 — 50 
Securities available-for-sale40 $(45)$6,462 319 $(2,253)$14,384 
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:
202420232022
 (in millions)
Gross realized gains$29 $3 $32 
Gross realized losses(153)(246)(6)
Net realized gains (losses)$(124)$(243)$26 
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 December 31, 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 December 31, 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$866 1.27 %$4,782 3.38 %$2,277 4.17 %$2,325 3.04 %
U.S. Government sponsored enterprises
177 1.74 125 3.50 429 1.89 4,565 1.81 
U.S. Government agency issued or guaranteed
20 .81 — — 2 4.85 8,022 2.97 
Asset-backed securities— — 51 4.40 47 3.91 11 4.50 
Foreign debt securities1,977 .56 1,423 4.41 122 4.01 — — 
Total amortized cost$3,040 .83 %$6,381 3.62 %$2,877 3.82 %$14,923 2.63 %
Total fair value$3,032 $6,339 $2,855 $12,711 
Held-to-maturity:
U.S. Treasury$— — %$2,323 3.64 %$484 3.77 %$— — %
U.S. Government sponsored enterprises
— — 217 2.84 597 3.70 351 2.87 
U.S. Government agency issued or guaranteed
— — — — 11 6.04 13,813 4.59 
Obligations of U.S. states and political subdivisions
— — 2 3.79 — — — — 
Total amortized cost$— — %$2,542 3.57 %$1,092 3.75 %$14,164 4.55 %
Total fair value$— $2,472 $1,021 $13,536 
Equity Securities Not Classified as Trading Equity securities that are not classified as trading and are included in other assets consisted of the following:
At December 31,20242023
 (in millions)
Equity securities carried at fair value$250 $270 
Equity securities without readily determinable fair values15 13