Securities (Tables)

6 Months Ended

Jun. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Details of Securities

The amortized cost, unrealized gains and losses, and approximate fair value of our securities available for sale and held-to-maturity securities are presented in the following tables. Gross unrealized gains and losses represent the difference between the amortized cost and the fair value of securities on the balance sheet as of the dates indicated. Accordingly, the amount of these gains and losses may change in the future as market conditions change.

	June 30, 2018								December 31, 2017
in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury, agencies, and corporations	$	150	—		$	4	$	146	$	159	$	—	$	2	$	157
States and political subdivisions	7		—		—		7		9		—		—		9
Agency residential collateralized mortgage obligations	14,435		$	5	546		13,894		14,985		10		335		14,660
Agency residential mortgage-backed securities	1,407		2		42		1,367		1,456		3		20		1,439
Agency commercial mortgage-backed securities	2,041		—		108		1,933		1,920		—		66		1,854
Other securities	17		3		—		20		17		3		—		20
Total securities available for sale	$	18,057	$	10	$	700	$	17,367	$	18,546	$	16	$	423	$	18,139
HELD-TO-MATURITY SECURITIES
Agency residential collateralized mortgage obligations	$	7,699	1		$	372	$	7,328	$	8,055	$	—	$	224	$	7,831
Agency residential mortgage-backed securities	531		$	—	17		514		574		1		4		571
Agency commercial mortgage-backed securities	4,032		—		154		3,878		3,186		6		44		3,148
Other securities	15		—		—		15		15		—		—		15
Total held-to-maturity securities	$	12,277	$	1	$	543	$	11,735	$	11,830	$	7	$	272	$	11,565

Schedule of Unrealized Loss on Investments

The following table summarizes our securities that were in an unrealized loss position as of June 30, 2018, and December 31, 2017.

	Duration of Unrealized Loss Position
	Less than 12 Months				12 Months or Longer				Total
in millions	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
June 30, 2018
Securities available for sale:
U.S Treasury, agencies, and corporations	$	39	$	1	$	107	$	3	$	146	$	4
Agency residential collateralized mortgage obligations	5,742		141		7,230		405		12,972		546
Agency residential mortgage-backed securities	338		10		873		32		1,211		42
Agency commercial mortgage-backed securities	192		9		1,593		99		1,785		108
Held-to-maturity securities:
Agency residential collateralized mortgage obligations	2,058		65		5,156		307		7,214		372
Agency residential mortgage-backed securities	330		10		184		7		514		17
Agency commercial mortgage-backed securities	3,030		104		477		50		3,507		154
Other securities (a)	9		—		—		—		9		—
Total temporarily impaired securities	$	11,738	$	340	$	15,620	$	903	$	27,358	$	1,243
December 31, 2017
Securities available for sale:
U.S. Treasury, agencies, and corporations	$	41	$	—	116		2		$	157	$	2
Agency residential collateralized mortgage obligations	6,153		74		$	7,270	$	261	13,423		335
Agency residential mortgage-backed securities	666		7		702		13		1,368		20
Agency commercial mortgage-backed securities	205		4		1,649		62		1,854		66
Held-to-maturity securities:
Agency residential collateralized mortgage obligations	2,201		27		5,599		197		7,800		224
Agency residential mortgage-backed securities	252		1		206		3		458		4
Agency commercial mortgage-backed securities	1,470		12		495		32		1,965		44
Other securities (a)	3		—		4		—		7		—
Total temporarily impaired securities	$	10,991	$	125	$	16,041	$	570	$	27,032	$	695

(a) Gross unrealized losses totaled less than $1 million for other securities held-to maturity at June 30, 2018, and December 31, 2017.

Cumulative Credit Portion of Impairments on Debt Securities

As shown in the following table, we did not have any impairment losses recognized in earnings for the three and six months ended June 30, 2018, and June 30, 2017.

Six months ended June 30, 2018
in millions
Balance at December 31, 2017	$	4
Impairment recognized in earnings	—
Balance at June 30, 2018	$	4

Securities by Maturity

The following table shows our securities by remaining maturity. CMOs and other mortgage-backed securities available for sale portfolio and held-to-maturity portfolio are presented based on their expected average lives. The remaining securities, in both the available-for-sale and held-to-maturity portfolios, are presented based on their remaining contractual maturity. Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties.

	Securities Available for Sale				Held to Maturity Securities
June 30, 2018	Amortized Cost		Fair Value		Amortized Cost		Fair Value
in millions
Due in one year or less	$	113	$	113	$	43	$	42
Due after one through five years	12,105		11,602		6,653		6,410
Due after five through ten years	5,823		5,636		5,581		5,283
Due after ten years	16		16		—		—
Total	$	18,057	$	17,367	$	12,277	$	11,735