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Fair Value Disclosures (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
Recurring Fair Value Measurements

Accounting standards define fair value as the exchange price that would be received on the measurement date to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants, with a three level measurement hierarchy:

•Level 1: Quoted prices for identical instruments in active markets
•Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets
•Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable

The following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:
December 31, 2019
(Dollars in millions)		TotalLevel 1Level 2Level 3Netting Adjustments (1)
Assets:    
Trading assets:
U.S. Treasury$227  $—  $227  $—  $—  
GSE296  —  296  —  —  
Agency MBS - residential497  —  497  —  —  
Agency MBS - commercial68  —  68  —  —  
States and political subdivisions82  —  82  —  —  
Non-agency MBS277  —  277  —  —  
Corporate and other debt securities1,204  —  1,204  —  —  
Loans2,948  —  2,948  —  —  
Other134  90  44  —  —  
Total trading assets5,733  90  5,643  —  —  
AFS securities:   
U.S. Treasury2,276  —  2,276  —  —  
GSE1,881  —  1,881  —  —  
Agency MBS - residential68,236  —  68,236  —  —  
Agency MBS - commercial1,341  —  1,341  —  —  
States and political subdivisions585  —  585  —  —  
Non-agency MBS368  —  —  368  —  
Other40  —  40  —  —  
Total AFS securities74,727  —  74,359  368  —  
LHFS at fair value5,673  —  5,673  —  —  
MSRs at fair value2,618  —  —  2,618  —  
Other assets:
Derivative assets2,053  606  3,620  34  (2,207) 
Equity securities817  815  2  —  —  
Private equity investments440  —  —  440  —  
Total assets$92,061  $1,511  $89,297  $3,460  $(2,207) 
Liabilities:            
Derivative liabilities$366  $204  $3,117  $15  $(2,970) 
Securities sold short1,074  18  1,056  —  —  
Total liabilities$1,440  $222  $4,173  $15  $(2,970) 
December 31, 2018
(Dollars in millions)		TotalLevel 1Level 2Level 3Netting Adjustments (1)
Assets:    
Trading assets$391  $—  $388  $3  $—  
AFS securities:            
U.S. Treasury3,441  —  3,441  —  —  
GSE200  —  200  —  —  
Agency MBS - residential19,426  —  19,426  —  —  
Agency MBS - commercial729  —  729  —  —  
States and political subdivisions701  —  701  —  —  
Non-agency MBS505  —  114  391  —  
Other36  —  36  —  —  
Total AFS securities25,038  —  24,647  391  —  
LHFS988  —  988  —  —  
MSRs1,108  —  —  1,108  —  
Other assets:            
Derivative assets246  —  234  12  —  
Equity securities376  374  2  —  —  
Private equity investments393  —  —  393  —  
Total assets$28,540  $374  $26,259  $1,907  $—  
Liabilities:            
Derivative liabilities$247  $1  $246  $—  $—  
Securities sold short145  —  145  —  —  
Total liabilities$392  $1  $391  $—  $—  
(1) Refer to "Note 19. Derivative Financial Instruments" for additional discussion on netting adjustments.
Rollforward of Level 3 Assets and Liabilities
Activity for Level 3 assets and liabilities is summarized below:
 
(Dollars in millions)		Trading AssetsNon-agency MBSMSRsNet DerivativesPrivate Equity Investments
Balance at January 1, 2017$—  $507  $1,052  $(13) $362  
Total realized and unrealized gains (losses):
Included in earnings—  36  48  38  58  
Included in unrealized net holding gains (losses) in OCI—  (40) —  —  —  
Purchases—  —  —  —  142  
Issuances—  —  124  43  —  
Sales—  —  —  —  (119) 
Settlements—  (71) (168) (65) (26) 
Transfers out of Level 3—  —  —  (13) 
Balance at December 31, 2017—  432  1,056  3  404  
Total realized and unrealized gains (losses):         
Included in earnings—  9  71  11  66  
Purchases5  —  —  —  91  
Issuances—  —  152  24  —  
Sales(2) —  —  —  (112) 
Settlements—  (50) (171) (26) (56) 
Balance at December 31, 2018  3  391  1,108  12  393  
Total realized and unrealized gains (losses):
Included in earnings—  13  (105) 63  47  
Included in unrealized net holding gains (losses) in OCI—  4  —  —  —  
Purchases23  —  31  (1) 137  
Issuances—  —  170  63  —  
Sales(26) —  (27) —  (91) 
Settlements—  (40) (164) (118) (46) 
Transfers into Level 3  —  —  —  (10) —  
Merger additions  —  —  1,605  10  —  
Balance at December 31, 2019  $—  $368  $2,618  $19  $440  
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at December 31, 2019 $—  $12  $(105) $24  $16  
Primary income statement location of realized gains (losses) included in earnings
Interest income  Interest income  Residential mortgage income and Commercial real estate related income  Residential mortgage income and Commercial real estate related income  Other income  
Fair Value and UPB of LHFS
The following table details the fair value and UPB of LHFS that were elected to be measured at fair value. Trading loans, included in other trading assets, were also elected to be measured at fair value.
December 31,
(Dollars in millions)		20192018
Fair ValueUPBDifferenceFair ValueUPBDifference
Trading loans$2,948  $2,982  $(34) $—  $—  $—  
LHFS at fair value5,673  5,563  110  988  975  13  
Assets Measured at Fair Value on a Nonrecurring Basis
The following table provides information about certain assets measured at fair value on a nonrecurring basis. The carrying values represent end of period values, which approximate the fair value measurements that occurred on the various measurement dates throughout the period. The valuation adjustments represent the amounts recorded during the period regardless of whether the asset is still held at period end. These assets are considered to be Level 3 assets (excludes PCI).
20192018
As of / For The Year Ended December 31,
(Dollars in millions)		Carrying ValueValuation AdjustmentsCarrying ValueValuation Adjustments
LHFS$2,700  $(17) $—  $—  
Impaired loans95  (23) 167  (35) 
Foreclosed real estate82  (248) 35  (240) 
Carrying Amounts and Fair Value of Financial Assets and Liabilities Not Recorded at Fair Value Financial assets and liabilities not recorded at fair value are summarized below:
December 31, 2019December 31, 2018
(Dollars in millions)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Financial assets:    
HTM securitiesLevel 2$—  $—  $20,552  $20,047  
Loans and leases HFI, net of ALLLLevel 3298,293  298,586  147,455  145,591  
Financial liabilities:            
Time depositsLevel 235,896  35,885  16,577  16,617  
Long-term debtLevel 241,339  42,051  23,709  23,723