Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Financial Instruments

Schedule of derivative financial instruments and related hedged items

							September 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	$	9,650	$	―	$	(172)	$	4,300	$	―	$	(203)
Fair value hedges:
	Interest rate contracts:
		Receive fixed swaps				Long-term debt		10,602		157		(15)		6,822		102		(3)
		Pay fixed swaps				Commercial loans		172		―		(3)		178		―		(3)
		Pay fixed swaps				Municipal securities		343		―		(108)		345		―		(83)
				Total				11,117		157		(126)		7,345		102		(89)
Not designated as hedges:
	Client-related and other risk management:
		Interest rate contracts:
			Receive fixed swaps					8,144		322		(12)		8,619		370		(37)
			Pay fixed swaps					8,041		9		(346)		8,401		31		(396)
			Other swaps					1,394		5		(7)		1,586		6		(8)
			Other					483		1		(1)		424		2		(2)
		Foreign exchange contracts						585		9		(5)		384		2		(3)
				Total				18,647		346		(371)		19,414		411		(446)
	Mortgage banking:
		Interest rate contracts:
			Interest rate lock commitments					1,899		12		(2)		1,869		3		(14)
			When issued securities, forward rate agreements and forward
				commitments				3,414		6		(8)		3,100		34		(7)
			Futures contracts					1,270		―		―		―		―		―
			Other					383		6		(1)		531		8		(7)
				Total				6,966		24		(11)		5,500		45		(28)
	MSRs:
		Interest rate contracts:
			Receive fixed swaps					3,793		117		(9)		6,139		36		(141)
			Pay fixed swaps					3,802		9		(52)		5,449		89		(29)
			Option trades					7,265		162		(18)		9,415		181		(31)
			When issued securities, forward rate agreements and forward
				commitments				2,227		1		(1)		1,756		―		(3)
				Total				17,087		289		(80)		22,759		306		(204)
					Total derivatives not designated as hedges			42,700		659		(462)		47,673		762		(678)
Total derivatives							$	63,467		816		(760)	$	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									(468)		468				(514)		514
	Cash collateral (received) posted									(98)		262				(44)		386
		Net amount							$	250	$	(30)			$	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 September 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				$	(8)	$	(13)	Total interest expense	$	(21)	$	(18)
										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	$	(5)	$	(6)
	Interest rate contracts								Total interest expense		58		34
				Total						$	53	$	28
Not designated as hedges:
	Client-related and other risk management:
		Interest rate contracts							Other noninterest income	$	5	$	5
		Foreign exchange contracts							Other noninterest income		10		(2)
	Mortgage banking:
		Interest rate contracts							Mortgage banking income		20		(199)
	MSRs:
		Interest rate contracts							Mortgage banking income		23		(16)
			Total							$	58	$	(212)

The Effect of Derivative Instruments on the Consolidated Statements of Income
Nine Months Ended September 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				$	(33)	$	207	Total interest expense	$	(61)	$	(58)
									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	$	(16)	$	(16)
	Interest rate contracts								Total interest expense		168		93
				Total						$	152	$	77
Not Designated as Hedges:
	Client-related and other risk management:
		Interest rate contracts							Other noninterest income	$	15	$	19
		Foreign exchange contracts							Other noninterest income		13		6
	Mortgage Banking:
		Interest rate contracts							Mortgage banking income		(7)		(101)
	MSRs:
		Interest rate contracts							Mortgage banking income		128		(149)
			Total							$	149	$	(225)

Deferred Gains and Losses From Hedges

			September 30,			December 31,
			2014			2013
			(Dollars in millions)
Cash flow hedges:
	Net unrecognized after-tax loss on active hedges recorded in OCI		$	(107)		$	(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		(51)			(50)
	Maximum time period 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)	$	260		$	326
	Portion of pre-tax gain on terminated hedges to be recognized as a reduction
		of interest expense during the next 12 months		88			87

Schedule Of Derivative Instruments Summary Of Collateral Positions With Counterparties

		September 30,		December 31,
		2014		2013
		(Dollars in millions)
Cash collateral received from dealer counterparties		$	79	$	44
Derivatives in a net gain position secured by that collateral			78		46
Unsecured positions in a net gain with dealer counterparties after collateral postings			2		3
Cash collateral posted to dealer counterparties			247		356
Derivatives in a net loss position secured by that collateral			248		357
Additional collateral that would have been posted had BB&T's credit ratings
	dropped below investment grade		3		4
Cash collateral received from central clearing parties			23		―
Derivatives in a net gain position secured by that collateral			21		26
Cash collateral, including initial margin, posted to central clearing parties			26		43
Derivatives in a net loss position secured by that collateral			25		43
Securities pledged to central clearing parties			124		82