Derivatives, Hedging Activities and Interest Expense (Tables)

12 Months Ended

Mar. 31, 2013

Derivatives, Hedging Activities and Interest Expense [Abstract]

Derivative Activity Impact on Consolidated Balance Sheet

		Hedge accounting				Non-hedge				Total
		derivatives				accounting derivatives
			Notional		Fair		Notional		Fair		Notional		Fair
(Dollars in millions)					value				value				value
Other assets
Interest rate swaps		$	465	$	44	$	22,336	$	536	$	22,801	$	580
Foreign currency swaps			1,246		491		7,498		648		8,744		1,139
	Total	$	1,711	$	535	$	29,834	$	1,184	$	31,545	$	1,719
Counterparty netting and collateral													(1,661)
	Carrying value of derivative contracts – Other assets											$	58
Other liabilities
Interest rate swaps		$	-	$	-	$	51,342	$	766	$	51,342	$	766
Interest rate caps			-		-		50		-		50		-
Foreign currency swaps			790		29		3,103		102		3,893		131
Embedded derivatives			-		-		64		12		64		12
	Total	$	790	$	29	$	54,559	$	880	$	55,349	$	909
Counterparty netting and collateral													(892)
	Carrying value of derivative contracts – Other liabilities											$	17

		Hedge accounting				Non-hedge				Total
		derivatives				accounting derivatives
			Notional		Fair		Notional		Fair		Notional		Fair
(Dollars in millions)					value				value				value
Other Assets
Interest rate swaps		$	465	$	59	$	15,804	$	380	$	16,269	$	439
Foreign currency swaps			3,291		772		9,866		1,449		13,157		2,221
	Total	$	3,756	$	831	$	25,670	$	1,829	$	29,426	$	2,660
Counterparty netting and collateral													(2,590)
	Carrying value of derivative contracts – Other assets											$	70
Other liabilities
Interest rate swaps		$	-	$	-	$	51,175	$	1,008	$	51,175	$	1,008
Interest rate caps			-		-		50		-		50		-
Foreign currency swaps			437		29		987		44		1,424		73
Embedded derivatives			-		-		92		24		92		24
	Total	$	437	$	29	$	52,304	$	1,076	$	52,741	$	1,105
Counterparty netting and collateral													(1,038)
	Carrying value of derivative contracts – Other liabilities											$	67

Derivative Activity Impact on Consolidated Statement of Income

				Years ended March 31,
(Dollars in millions)				2013		2012		2011
Interest expense on debt			$	1,330	$	1,677	$	1,943
Interest income on hedge accounting derivatives				(103)		(221)		(449)
Interest income on non-hedge accounting foreign currency
	swaps			(258)		(386)		(379)
Interest expense on non-hedge accounting interest rate swaps				359		606		807
		Interest expense on debt and derivatives		1,328		1,676		1,922
Loss (gain) on hedge accounting derivatives:
	Interest rate swaps			15		(6)		(2)
	Foreign currency swaps			274		23		(832)
		Loss (gain) on hedge accounting derivatives		289		17		(834)
Less hedged item: change in fair value of fixed rate debt				(299)		(38)		801
		Ineffectiveness related to hedge accounting derivatives		(10)		(21)		(33)
(Gain) loss from foreign currency transactions and non-hedge
accounting derivatives:
		(Gain) loss on foreign currency transactions		(430)		(182)		1,494
		Loss (gain) on foreign currency swaps		431		(84)		(1,595)
		(Gain) on interest rate swaps		(379)		(89)		(174)
Total interest expense			$	940	$	1,300	$	1,614

Summary of Total Credit Valuation Adjustment Allocated to Interest Expenses

	Years ended March 31,
(Dollars in millions)		2013		2012		2011
(Gain) loss related to hedge accounting derivatives	$	(2)	$	(3)	$	(2)
(Gain) loss on non-hedge accounting foreign currency swaps		-		(6)		5
Loss on non-hedge accounting interest rate swaps		-		-		2
Total credit valuation adjustment allocated to interest expense	$	(2)	$	(9)	$	5