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Securities Financing Activities (Tables)
 9 Months Ended
Sep. 30, 2016
Banking and Thrift [Abstract]  
Summarized Securities Financing Agreements
The following table summarizes our securities financing agreements at September 30, 2016, December 31, 2015, and September 30, 2015:

 
September 30, 2016
in millions
Gross Amount
Presented in
Balance Sheet

Netting
Adjustments (a)

Collateral (b)

Net
Amounts

Offsetting of financial assets:
 
 
 
 
Reverse repurchase agreements
$
9

$
(9
)
—

—

Total
$
9

$
(9
)
—

—

 
 
 
 
 
Offsetting of financial liabilities:
 
 
 
 
Repurchase agreements (c)
$
318

$
(9
)
$
(309
)
—

Total
$
318

$
(9
)
$
(309
)
—

 
 
 
 
 
 
December 31, 2015
in millions
Gross Amount
Presented in
Balance Sheet

Netting Adjustments (a)

Collateral (b)

Net
Amounts

Offsetting of financial assets:
 
 
 
 
Reverse repurchase agreements
$
1

—

$
(1
)
—

Total
$
1

—

$
(1
)
—

 
 
 
 
 
Offsetting of financial liabilities:
 
 
 
 
Repurchase agreements (c)
—

—

—

—

Total
—

—

—

—

 
 
 
 
 
 
September 30, 2015
in millions
Gross Amount
Presented in
Balance Sheet

Netting
Adjustments (a)

Collateral (b)

Net
Amounts

Offsetting of financial assets:
 
 
 
 
Reverse repurchase agreements
$
4

$
(4
)
—

—

Total
$
4

$
(4
)
—

—

 
 
 
 
 
Offsetting of financial liabilities:
 
 
 
 
Repurchase agreements (c)
$
6

$
(4
)
$
(2
)
—

Total
$
6

$
(4
)
$
(2
)
—

 
 
 
 
 
 
(a)
Netting adjustments take into account the impact of master netting agreements that allow us to settle with a single counterparty on a net basis.

(b)
These adjustments take into account the impact of bilateral collateral agreements that allow us to offset the net positions with the related collateral. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.

(c)
Repurchase agreements are collateralized by Federal Agency CMOs and U.S. Treasury securities and contracted on an overnight basis. These securities are reported in "securities available for sale" on our balance sheet.