Investment Securities (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of AFS and HTM Securities

AFS and HTM Securities

	At December 31, 2021
$ in millions	Amortized Cost1		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
AFS securities
U.S. Treasury securities	$	58,974	$	343	$	296	$	59,021
U.S. agency securities2	26,780		274		241		26,813
Agency CMBS	14,476		289		89		14,676
State and municipal securities	613		37		2		648
FFELP student loan ABS3	1,672		11		11		1,672
Total AFS securities	102,515		954		639		102,830
HTM securities
U.S. Treasury securities	28,653		882		81		29,454
U.S. agency securities2	48,195		169		1,228		47,136
Agency CMBS	2,267		—		51		2,216
Non-agency CMBS	1,053		28		5		1,076
Total HTM securities	80,168		1,079		1,365		79,882
Total investment securities	$	182,683	$	2,033	$	2,004	$	182,712

	At December 31, 2020
$ in millions	Amortized Cost1		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
AFS securities
U.S. Treasury securities	$	45,345	$	1,010	$	—	$	46,355
U.S. agency securities2	37,389		762		25		38,126
Agency CMBS	19,982		465		9		20,438
Corporate bonds	1,694		42		—		1,736
State and municipal securities	1,461		103		1		1,563
FFELP student loan ABS3	1,735		7		26		1,716
Other ABS	449		—		—		449
Total AFS securities	108,055		2,389		61		110,383
HTM securities
U.S. Treasury securities	29,346		1,893		—		31,239
U.S. agency securities2	38,951		704		8		39,647
Agency CMBS	2,632		4		2		2,634
Non-agency CMBS	842		58		—		900
Total HTM securities	71,771		2,659		10		74,420
Total investment securities	$	179,826	$	5,048	$	71	$	184,803

1.Amounts are net of any ACL.

2.U.S. agency securities consist mainly of agency mortgage pass-through pool securities, CMOs and agency-issued debt.

3.Underlying loans are backed by a guarantee, ultimately from the U.S. Department of Education, of at least 95% of the principal balance and interest outstanding.

Schedule of Investment Securities in an Unrealized Loss Position

Investment Securities in an Unrealized Loss Position

	At December 31, 2021				At December 31, 2020
$ in millions	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury securities
Less than12 months	$	31,459	$	296	$	151	$	—
Total	31,459		296		151		—
U.S. agency securities
Less than12 months	12,283		219		5,808		22
12 months or longer	1,167		22		1,168		3
Total	13,450		241		6,976		25
Agency CMBS
Less than12 months	2,872		89		2,779		9
12 months or longer	10		—		46		—
Total	2,882		89		2,825		9
State and municipal securities
Less than12 months	21		2		86		—
12 months or longer	7		—		36		1
Total	28		2		122		1
FFELP student loan ABS
Less than12 months	320		1		—		—
12 months or longer	591		10		1,077		26
Total	911		11		1,077		26
Total AFS securities in an unrealized loss position
Less than12 months	46,955		607		8,824		31
12 months or longer	1,775		32		2,358		30
Total	$	48,730	$	639	$	11,182	$	61

Schedule of Investment Securities by Contractual Maturity

Investment Securities by Contractual Maturity

	At December 31, 2021
$ in millions	Amortized Cost1		Fair Value		Annualized Average Yield2
AFS securities
U.S. Treasury securities:
Due within 1 year	$	8,957	$	9,017	1.7	%
After 1 year through 5 years	41,374		41,350		1.0	%
After 5 years through 10 years	8,643		8,654		1.2	%
Total	58,974		59,021
U.S. agency securities:
Due within 1 year	1		1		1.2	%
After 1 year through 5 years	191		194		1.6	%
After 5 years through 10 years	1,231		1,254		1.8	%
After 10 years	25,357		25,364		1.6	%
Total	26,780		26,813
Agency CMBS:
Due within 1 year	226		227		1.7	%
After 1 year through 5 years	2,562		2,598		1.6	%
After 5 years through 10 years	9,072		9,302		1.6	%
After 10 years	2,616		2,549		1.4	%
Total	14,476		14,676
State and municipal securities:
Due within 1 year	4		4		1.8	%
After 1 year through 5 years	26		28		1.9	%
After 5 years through 10 years	59		68		2.1	%
After 10 years	524		548		2.2	%
Total	613		648
FFELP student loan ABS:
Due within 1 year	31		30		0.8	%
After 1 year through 5 years	162		158		0.8	%
After 5 years through 10 years	143		139		0.7	%
After 10 years	1,336		1,345		1.1	%
Total	1,672		1,672
Total AFS securities	102,515		102,830		1.3	%

	At December 31, 2021
$ in millions	Amortized Cost1		Fair Value		Annualized Average Yield2
HTM securities
U.S. Treasury securities:
Due within 1 year	$	4,147	$	4,181	1.9	%
After 1 year through 5 years	17,615		17,927		1.7	%
After 5 years through 10 years	5,328		5,662		2.4	%
After 10 years	1,563		1,684		2.3	%
Total	28,653		29,454
U.S. agency securities:
After 5 years through 10 years	491		503		2.0	%
After 10 years	47,704		46,633		1.6	%
Total	48,195		47,136
Agency CMBS:
Due within 1 year	45		45		1.1	%
After 1 year through 5 years	1,263		1,240		1.3	%
After 5 years through 10 years	808		784		1.4	%
After 10 years	151		147		1.5	%
Total	2,267		2,216
Non-agency CMBS:
Due within 1 year	151		151		4.5	%
After 1 year through 5 years	109		111		3.1	%
After 5 years through 10 years	753		772		3.5	%
After 10 years	40		42		4.2	%
Total	1,053		1,076
Total HTM securities	80,168		79,882		1.8	%
Total investment securities	$	182,683	$	182,712	1.5	%

1.Amounts are net of any ACL.

2.Annualized average yield is computed using the effective yield, weighted based on the amortized cost of each security. The effective yield is shown pre-tax and considers the contractual coupon, amortization of premiums and accretion of discounts, and the effect of related hedging derivatives.

Schedule of Gross Realized Gains and Losses on Sales of AFS Securities

Gross Realized Gains (Losses) on Sales of AFS Securities

$ in millions	2021		2020		2019
Gross realized gains	$	237	$	168	$	113
Gross realized (losses)	(27)		(31)		(10)
Total1	$	210	$	137	$	103

1.Realized gains and losses are recognized in Other revenues in the income statement.