Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Derivative Financial Instruments

Schedule of derivative financial instruments and related hedged items

							June 30, 2014						December 31, 2013
						Hedged Item or	Notional		Fair Value				Notional		Fair Value
						Transaction	Amount		Gain		Loss		Amount		Gain		Loss
							(Dollars in millions)
Cash flow hedges:
	Interest rate contracts:
		Pay fixed swaps				3 mo. LIBOR funding	$	8,150	$	―	$	(186)	$	4,300	$	―	$	(203)
Fair value hedges:
	Interest rate contracts:
		Receive fixed swaps and option trades				Long-term debt		9,052		197		(2)		6,822		102		(3)
		Pay fixed swaps				Commercial loans		179		―		(3)		178		―		(3)
		Pay fixed swaps				Municipal securities		346		―		(108)		345		―		(83)
				Total				9,577		197		(113)		7,345		102		(89)
Not designated as hedges:
	Client-related and other risk management:
		Interest rate contracts:
			Receive fixed swaps					8,140		375		(8)		8,619		370		(37)
			Pay fixed swaps					8,019		6		(401)		8,401		31		(396)
			Other swaps					1,469		6		(8)		1,586		6		(8)
			Other					557		1		(1)		424		2		(2)
		Foreign exchange contracts						444		2		(4)		384		2		(3)
				Total				18,629		390		(422)		19,414		411		(446)
	Mortgage banking:
		Interest rate contracts:
			Interest rate lock commitments					2,593		25		―		1,869		3		(14)
			When issued securities, forward rate agreements and forward
				commitments				3,823		5		(43)		3,100		34		(7)
			Other					967		5		(1)		531		8		(7)
				Total				7,383		35		(44)		5,500		45		(28)
	MSRs:
		Interest rate contracts:
			Receive fixed swaps					2,555		85		(7)		6,139		36		(141)
			Pay fixed swaps					2,611		7		(39)		5,449		89		(29)
			Option trades					8,495		173		(27)		9,415		181		(31)
			When issued securities, forward rate agreements and forward
				commitments				4,104		7		(1)		1,756		―		(3)
				Total				17,765		272		(74)		22,759		306		(204)
					Total derivatives not designated as hedges			43,777		697		(540)		47,673		762		(678)
Total derivatives							$	61,504		894		(839)	$	59,318		864		(970)
Gross amounts not offset in the Consolidated Balance Sheets:
	Amounts subject to master netting arrangements not offset due to policy election									(516)		516				(514)		514
	Cash collateral (received) posted									(66)		277				(44)		386
		Net amount							$	312	$	(46)			$	306	$	(70)

The effect of derivative instruments on the consolidated statements of income

The Effect of Derivative Instruments on the Consolidated Statements of Income
Three Months Ended June 30, 2014 and 2013
					Effective Portion
					Pre-tax Gain					Pre-tax Gain (Loss)
					(Loss) Recognized					Reclassified from
					in AOCI				Location of Amounts	AOCI into Income
					2014		2013		Reclassified from AOCI into Income	2014		2013
						(Dollars in millions)
Cash flow hedges:
	Interest rate contracts				$	(22)	$	231	Total interest income	$	―	$	―
									Total interest expense		(19)		(19)
										$	(19)	$	(19)
										Pre-tax Gain
										(Loss) Recognized
									Location of Amounts	in Income
									Recognized in Income	2014		2013
										(Dollars in millions)
Fair value hedges:
	Interest rate contracts								Total interest income	$	(6)	$	(5)
	Interest rate contracts								Total interest expense		57		29
				Total						$	51	$	24
Not designated as hedges:
	Client-related and other risk management:
		Interest rate contracts							Other noninterest income	$	5	$	8
		Foreign exchange contracts							Other noninterest income		(1)		5
	Mortgage banking:
		Interest rate contracts							Mortgage banking income		(17)		125
	MSRs:
		Interest rate contracts							Mortgage banking income		60		(87)
			Total							$	47	$	51

The Effect of Derivative Instruments on the Consolidated Statements of Income
Six Months Ended June 30, 2014 and 2013
					Effective Portion
					Pre-tax Gain					Pre-tax Gain (Loss)
					(Loss) Recognized				Location of Amounts	Reclassified from
					in AOCI				Reclassified from AOCI	AOCI into Income
					2014		2013		into Income	2014		2013
						(Dollars in millions)
Cash Flow Hedges:
	Interest rate contracts				$	(25)	$	220	Total interest income	$	―	$	―
									Total interest expense		(40)		(40)
										$	(40)	$	(40)
									Effective Portion
										Pre-tax Gain
									Location of Amounts	(Loss) Recognized
									Recognized	in Income
									in Income	2014		2013
						(Dollars in millions)
Fair Value Hedges:
	Interest rate contracts								Total interest income	$	(11)	$	(10)
	Interest rate contracts								Total interest expense		110		59
				Total						$	99	$	49
Not Designated as Hedges:
	Client-related and other risk management:
		Interest rate contracts							Other noninterest income	$	10	$	14
		Foreign exchange contracts							Other noninterest income		3		8
	Mortgage Banking:
		Interest rate contracts							Mortgage banking income		(27)		98
	MSRs:
		Interest rate contracts							Mortgage banking income		105		(133)
			Total							$	91	$	(13)

Deferred Gains and Losses From Hedges

			June 30,			December 31,
			2014			2013
			(Dollars in millions)
Cash flow hedges:
	Net unrecognized after-tax loss on active hedges recorded in OCI		$	(116)		$	(127)
	Net unrecognized after-tax gain on terminated hedges recorded in OCI
		(to be recognized in earnings primarily from 2016 through 2021)		127			129
	Estimated portion of net after-tax loss on active and terminated hedges
		to be reclassified from OCI into earnings during the next 12 months		(52)			(50)
	Maximum length of time over which BB&T has hedged a portion of the variability
		in future cash flows for forecasted transactions excluding those transactions relating to the payment of variable interest on existing instruments		8	yrs		7	yrs
Fair value hedges:
	Unrecognized pre-tax gain on terminated hedges (to be recognized
		as a reduction of interest expense through 2019)	$	282		$	326
	Portion of pre-tax gain on terminated hedges to be recognized as a reduction
		of interest expense during the next 12 months		87			87

Schedule Of Derivative Instruments Summary Of Collateral Positions With Counterparties

		June 30,		December 31,
		2014		2013
		(Dollars in millions)
Cash collateral received from dealer counterparties		$	60	$	44
Derivatives in a net gain position secured by that collateral			70		46
Unsecured positions in a net gain with dealer counterparties after collateral postings			10		3
Cash collateral posted to dealer counterparties			267		356
Derivatives in a net loss position secured by that collateral			269		357
Additional collateral that would have been posted had BB&T's credit ratings
	dropped below investment grade		4		4
Cash collateral received from central clearing parties			7		―
Derivatives in a net gain position secured by that collateral			6		26
Cash collateral, including initial margin, posted to central clearing parties			12		43
Derivatives in a net loss position secured by that collateral			38		43
Securities pledged to central clearing parties			141		82