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Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities
6. 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.
 20252024
December 31,
Dollars in millions
Amortized
Cost (a)(b)
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Amortized
Cost(a)(b)
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury, agencies, and corporations$7,842 $61 $17 $7,886 $8,928 $20 $44 $8,904 
Agency residential collateralized mortgage obligations
10,269 4 1,708 8,565 11,409 8 2,193 9,224 
Agency residential mortgage-backed securities19,451 201 457 19,195 16,038 3 872 15,169 
Agency commercial mortgage-backed securities 4,284 1 335 3,950 4,927 — 517 4,410 
Total securities available for sale$41,846 $267 $2,517 $39,596 $41,302 $31 $3,626 $37,707 
HELD-TO-MATURITY SECURITIES
Agency residential collateralized mortgage obligations
$4,026 $8 $176 $3,858 $4,577 $3 $332 $4,248 
Agency residential mortgage-backed securities2,374 12 13 2,373 151 — 17 134 
Agency commercial mortgage-backed securities2,121 1 139 1,983 2,333 — 203 2,130 
Asset-backed securities(c)
77 — 2 75 308 — 8 300 
Other securities24 — — 24 26 — 1 25 
Total held-to-maturity securities$8,622 $21 $330 $8,313 $7,395 $3 $561 $6,837 
(a)Amortized cost amounts exclude accrued interest receivable which is recorded within “other assets” on the balance sheet. At December 31, 2025, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $121 million and $26 million, respectively. At December 31, 2024, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $109 million and $21 million, respectively.
(b)Excluded from the amortized cost of securities available for sale are basis adjustments for securities designated in active fair value hedges. Basis adjustments totaled $99 million and $(6) million as of December 31, 2025 and December 31, 2024, respectively. The securities being hedged are primarily U.S Treasuries, Agency RMBS, and Agency CMBS.
(c)Amortized costs includes $74 million of securities as of December 31, 2025, and $303 million of securities as of December 31, 2024, related to the purchase of senior notes from a securitization collateralized by sold indirect auto loans.

The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025, and December 31, 2024:
 Duration of Unrealized Loss Position  
 Less than 12 Months12 Months or LongerTotal
Dollars in millionsFair Value
Gross
Unrealized
Losses
Fair Value
Gross
Unrealized
Losses
Fair Value
Gross
Unrealized
Losses
December 31, 2025
Securities available for sale:
U.S. Treasury, agencies, and corporations$— $— $525 $17 $525 $17 
Agency residential collateralized mortgage obligations— — 7,677 1,708 7,677 1,708 
Agency residential mortgage-backed securities1,226 7 5,583 450 6,809 457 
Agency commercial mortgage-backed securities 7 — 3,777 335 3,784 335 
Held-to-maturity securities:
Agency residential collateralized mortgage obligations240 2 3,023 174 3,263 176 
Agency residential mortgage-backed securities526 2 125 11 651 13 
Agency commercial mortgage-backed securities— — 1,914 139 1,914 139 
Asset-backed securities— — 75 2 75 2 
Other securities5 — 6 — 11 — 
Total securities in an unrealized loss position$2,004 $11 $22,705 $2,836 $24,709 $2,847 
December 31, 2024      
Securities available for sale:
U.S. Treasury, agencies, and corporations$3,647 $8 $508 $36 $4,155 $44 
Agency residential collateralized mortgage obligations91 — 8,108 2,193 8,199 2,193 
Agency residential mortgage-backed securities11,364 254 3,145 618 14,509 872 
Agency commercial mortgage-backed securities 50 1 4,360 516 4,410 517 
Held-to-maturity securities:
Agency residential collateralized mortgage obligations569 18 3,387 314 3,956 332 
Agency residential mortgage-backed securities— — 134 17 134 17 
Agency commercial mortgage-backed securities — — 2,060 203 2,060 203 
Asset-backed securities— — 300 8 300 8 
Other securities7 — 8 1 15 1 
Total securities in an unrealized loss position$15,728 $281 $22,010 $3,906 $37,738 $4,187 

Based on our evaluation at December 31, 2025, an allowance for credit losses has not been recorded nor have unrealized losses been recognized into income. The issuers of the securities are of high credit quality and have a history of no credit losses, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely attributed to changes in interest rates and other market conditions. The issuers continue to make timely principal and interest payments.
The following table presents gross realized gains and losses associated with our securities available for sale portfolio for the noted periods. Realized losses for the year ended December 31, 2024, relate primarily to the strategic repositioning completed in the third and fourth quarters of 2024.
Year ended December 31,
Dollars in millions
202520242023
Securities available for sale
Realized gains$— $— $4 
Realized (losses)— (1,863)(8)

At December 31, 2025, securities available-for-sale and held-to-maturity securities totaling $18.7 billion were pledged to secure securities sold under repurchase agreements, to secure public and trust deposits, to facilitate access to secured funding, and for other purposes required or permitted by law.
The following table shows our securities by remaining maturity at December 31, 2025. CMOs, other mortgage-backed securities, and asset-backed securities in the 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
December 31, 2025Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Dollars in millions
Due in one year or less$3,070 $3,085 $472 $467 
Due after one through five years10,796 10,504 2,231 2,176 
Due after five through ten years21,855 20,214 4,796 4,671 
Due after ten years6,125 5,793 1,123 999 
Total$41,846 $39,596 $8,622 $8,313