Securities (Tables)

6 Months Ended

Jun. 30, 2013

Securities

Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Values of Securities Available for Sale

			Amortized		Gross Unrealized				Fair
June 30, 2013			Cost		Gains		Losses		Value
			(Dollars in millions)
AFS securities:
	GSE securities		$	441	$	—	$	—	$	441
	RMBS issued by GSE			20,473		142		272		20,343
	States and political subdivisions			1,901		81		94		1,888
	Non-agency RMBS			284		11		10		285
	Other securities			5		—		—		5
	Covered securities			1,080		435		—		1,515
		Total AFS securities	$	24,184	$	669	$	376	$	24,477

			Amortized		Gross Unrealized				Fair
December 31, 2012			Cost		Gains		Losses		Value
			(Dollars in millions)
AFS securities:
	GSE securities		$	290	$	—	$	—	$	290
	RMBS issued by GSE			20,482		466		18		20,930
	States and political subdivisions			1,948		153		90		2,011
	Non-agency RMBS			307		16		11		312
	Other securities			3		—		—		3
	Covered securities			1,147		444		—		1,591
		Total AFS securities	$	24,177	$	1,079	$	119	$	25,137

Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Values of Securities Held to Maturity

			Amortized		Gross Unrealized				Fair
June 30, 2013			Cost		Gains		Losses		Value
			(Dollars in millions)
HTM securities:
	GSE securities		$	5,200	$	—	$	272	$	4,928
	Mortgage-backed securities issued by GSE			8,059		27		68		8,018
	States and political subdivisions			33		1		—		34
	Other securities			459		6		—		465
		Total HTM securities	$	13,751	$	34	$	340	$	13,445

			Amortized		Gross Unrealized				Fair
December 31, 2012			Cost		Gains		Losses		Value
			(Dollars in millions)
HTM securities:
	GSE securities		$	3,808	$	17	$	1	$	3,824
	Mortgage-backed securities issued by GSE			9,273		238		1		9,510
	States and political subdivisions			34		1		1		34
	Other securities			479		4		3		480
		Total HTM securities	$	13,594	$	260	$	6	$	13,848

Gross Realized Gains and Losses

	Three Months Ended				Six Months Ended
	June 30,				June 30,
		2013		2012		2013		2012
	(Dollars in millions)
Gross gains	$	23	$	―	$	46	$	―
Gross losses		―		―		―		(4)
Net realized gains (losses)	$	23	$	―	$	46	$	(4)

Schedule of the Changes in Credit Losses on Other-Than-Temporarily Impaired Non-Agency RMBSs where a Portion of Unrealized Loss was Recognized in OCI

	Three Months Ended				Six Months Ended
	June 30,				June 30,
		2013		2012		2013		2012
	(Dollars in millions)
Balance at beginning of period	$	101	$	114	$	105	$	129
Credit losses on securities with previously recognized OTTI		―		2		―		3
Reductions for securities sold/settled during the period		(5)		(4)		(9)		(20)
Balance at end of period	$	96	$	112	$	96	$	112

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

		AFS				HTM
		Amortized		Fair		Amortized		Fair
June 30, 2013		Cost		Value		Cost		Value
		(Dollars in millions)
Due in one year or less		$	259	$	259	$	―	$	―
Due after one year through five years			305		312		―		―
Due after five years through ten years			536		555		4,555		4,326
Due after ten years			23,084		23,351		9,196		9,119
	Total debt securities	$	24,184	$	24,477	$	13,751	$	13,445

Gross Unrealized Losses and Fair Values of Investments by Investment Category and Length of Time in Unrealized Loss Position

			Less than 12 months				12 months or more				Total
			Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
June 30, 2013			Value		Losses		Value		Losses		Value		Losses
			(Dollars in millions)
AFS securities:
	RMBS issued by GSE		$	11,392	$	272	$	1	$	—	$	11,393	$	272
	States and political subdivisions			239		9		423		85		662		94
	Non-agency RMBS			—		—		105		10		105		10
		Total	$	11,631	$	281	$	529	$	95	$	12,160	$	376

HTM securities:
	GSE securities		$	4,812	$	272	$	—	$	—	$	4,812	$	272
	RMBS issued by GSE			5,966		68		48		—		6,014		68
		Total	$	10,778	$	340	$	48	$	—	$	10,826	$	340

			Less than 12 months				12 months or more				Total
			Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2012			Value		Losses		Value		Losses		Value		Losses
			(Dollars in millions)
AFS securities:
	RMBS issued by GSE		$	2,662	$	18	$	—	$	—	$	2,662	$	18
	States and political subdivisions			52		1		478		89		530		90
	Non-agency RMBS			—		—		113		11		113		11
		Total	$	2,714	$	19	$	591	$	100	$	3,305	$	119

HTM securities:
	GSE securities		$	805	$	1	$	—	$	—	$	805	$	1
	RMBS issued by GSE			593		1		—		—		593		1
	States and political subdivisions			22		1		—		—		22		1
	Other securities			266		3		—		—		266		3
		Total	$	1,686	$	6	$	—	$	—	$	1,686	$	6