Securities (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

The amortized cost, unrealized gains and losses, and fair value of our securities available for sale and held-to-maturity securities are presented in the following table. 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. For more information about our securities available for sale and held-to-maturity securities and the related accounting policies, see Note 1 (“Summary of Significant Accounting Policies”).


	2014								2013
December 31, 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
States and political subdivisions	$	22	$	1		—	$	23	$	39	$	1		—	$	40
Collateralized mortgage obligations		11,310		96	$	136		11,270		11,120		152	$	272		11,000
Other mortgage-backed securities		2,004		32		1		2,035		1,270		27		11		1,286
Other securities		29		3		—		32		17		3		—		20
Total securities available for sale	$	13,365	$	132	$	137	$	13,360	$	12,446	$	183	$	283	$	12,346


HELD-TO-MATURITY SECURITIES
Collateralized mortgage obligations	$	4,755	$	15	$	57	$	4,713	$	4,736	$	6	$	145	$	4,597
Other mortgage-backed securities		240		1		—		241		—		—		—		—
Other securities		20		—		—		20		20		—		—		20
Total held-to-maturity securities	$	5,015	$	16	$	57	$	4,974	$	4,756	$	6	$	145	$	4,617

Available for Sale Securities (Unrealized Loss Position)

The following table summarizes our securities that were in an unrealized loss position as of December 31, 2014, and December 31, 2013.


	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
December 31, 2014
Securities available for sale:
Collateralized mortgage obligations	$	3,019	$	52	$	2,932	$	84	$	5,951	$	136
Other mortgage-backed securities		—		—		78		1		78		1
Other securities^(a)		4		—		2		—		6		—
Held-to-maturity:
Collateralized mortgage obligations		1,005		11		1,994		46		2,999		57
Total temporarily impaired securities	$	4,028	$	63	$	5,006	$	131	$	9,034	$	194

December 31, 2013
Securities available for sale:
Collateralized mortgage obligations	$	5,122	$	261	$	157	$	11	$	5,279	$	272
Other mortgage-backed securities		856		11		—		—		856		11
Other securities^(a)		2		—		—		—		2		—
Held-to-maturity:
Collateralized mortgage obligations		3,969		145		—		—		3,969		145
Other securities^(b)		2		—		—		—		2		—
Total temporarily impaired securities	$	9,951	$	417	$	157	$	11	$	10,108	$	428

(a)	Gross unrealized losses totaled less than $1 million for other securities available sale for the years ended December 31, 2014, and December 31, 2013.

(b)	Gross unrealized losses totaled less than $1 million for other securities held-to-maturity for the year ended December 31, 2013.

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 year ended December 31, 2014.


Year ended December 31, 2014

in millions
Balance at December 31, 2013	$	4
Impairment recognized in earnings		—
Balance at December 31, 2014	$	4

Available for Sale Securities Realized Gains and Losses

Realized gains and losses related to securities available for sale were as follows:


Year ended December 31 in millions	2014^(a)		2013^(b)		2012^(a)
Realized gains		—	$	1		—
Realized losses		—		—		—
Net securities gains (losses)		—	$	1		—

(a)	Realized gains and losses totaled less than $1 million for the year ended December 31, 2014, and December 31, 2012.

(b)	Realized losses totaled less than $1 million for the year ended December 31, 2013.

Securities by 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
December 31, 2014 in millions	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	276	$	279	$	9	$	9
Due after one through five years		13,040		13,031		4,683		4,641
Due after five through ten years		46		47		323		324
Due after ten years		3		3		—		—
Total	$	13,365	$	13,360	$	5,015	$	4,974

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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