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Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:
June 30, 2020
(Dollars in millions)		TotalLevel 1Level 2Level 3Netting Adjustments (1)
Assets:    
Trading assets:
U.S. Treasury$759  $—  $759  $—  $—  
GSE116  —  116  —  —  
Agency MBS - residential557  —  557  —  —  
Agency MBS - commercial3  —  3  —  —  
States and political subdivisions54  —  54  —  —  
Corporate and other debt securities444  —  444  —  —  
Loans1,811  —  1,811  —  —  
Other80  80  —  —  —  
Total trading assets3,824  80  3,744  —  —  
AFS securities: 
U.S. Treasury2,260  —  2,260  —  —  
GSE1,935  —  1,935  —  —  
Agency MBS - residential71,547  —  71,547  —  —  
Agency MBS - commercial1,491  —  1,491  —  —  
States and political subdivisions537  —  537  —  —  
Other35  —  35  —  —  
Total AFS securities77,805  —  77,805  —  —  
LHFS at fair value5,515  —  5,515  —  —  
MSRs at fair value2,077  —  —  2,077  —  
Other assets:
Derivative assets4,214  654  6,355  214  (3,009) 
Equity securities635  603  32  —  —  
Total assets$94,070  $1,337  $93,451  $2,291  $(3,009) 
Liabilities:    
Derivative liabilities$448  $524  $3,039  $11  $(3,126) 
Securities sold short815  19  796  —  —  
Total liabilities$1,263  $543  $3,835  $11  $(3,126) 
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  —  
LHFS5,673  —  5,673  —  —  
MSRs2,618  —  —  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) 
(1) Refer to "Note 16. 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:
Three Months Ended
(Dollars in millions)		Trading AssetsNon-agency MBSMSRsNet DerivativesPrivate Equity Investments
Balance at April 1, 2019$11  $386  $1,036  $7  $388  
Total realized and unrealized gains (losses):
Included in earnings—  (7) (51) 13  1  
Included in unrealized net holding gains (losses) in OCI—  11  —  —  —  
Purchases—  —  —  —  61  
Issuances—  —  30  17  —  
Sales(11) —  —  —  (1) 
Settlements—  (8) (45) (20) —  
Transfers into level 3—  —  —  (10) —  
Balance at June 30, 2019$—  $382  $970  $7  $449  
Balance at April 1, 2020$—  $298  $2,150  $143  $448  
Total realized and unrealized gains (losses):
Included in earnings—  303  (36) 126  —  
Included in unrealized net holding gains (losses) in OCI—  (114) —  —  —  
Issuances—  —  144  271  —  
Sales—  (481) —  —  —  
Settlements—  (6) (181) (337) —  
Transfers out of level 3 and other—  —  —  —  (448) 
Balance at June 30, 2020$—  $—  $2,077  $203  $—  
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2020$—  $—  $(32) $210  $—  
Six Months Ended June 30, 2020 and 2019
(Dollars in millions)		Trading AssetsNon-agency MBSMSRsNet DerivativesPrivate Equity Investments
Balance at January 1, 2019$3  $391  $1,108  $12  $393  
Total realized and unrealized gains (losses):   
Included in earnings—  (5) (105) 21  24  
Included in unrealized net holding gains (losses) in OCI—  12  —  —  —  
Purchases15  —  —  —  68  
Issuances—  —  52  34  —  
Sales(18) —  —  —  (34) 
Settlements—  (16) (85) (50) (2) 
Transfers into Level 3—  —  —  (10) —  
Balance at June 30, 2019$—  $382  $970  $7  $449  
Balance at January 1, 2020$—  $368  $2,618  $19  $440  
Total realized and unrealized gains (losses):
Included in earnings—  306  (562) 237  2  
Included in unrealized net holding gains (losses) in OCI—  (178) —  —  —  
Purchases—  —  —  —  27  
Issuances—  —  331  426  —  
Sales—  (481) —  —  —  
Settlements—  (15) (310) (479) (21) 
Transfers out of level 3 and other—  —  —  —  (448) 
Balance at June 30, 2020$—  $—  $2,077  $203  $—  
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2020$—  $—  $(547) $213  $—  
Primary income statement location of realized gains (losses) included in earnings
Net interest incomeGain on sale of securitiesResidential mortgage income and Commercial real estate related incomeResidential mortgage income and Commercial real estate related incomeOther 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.
 June 30, 2020December 31, 2019
(Dollars in millions)Fair ValueUPBDifferenceFair ValueUPBDifference
Trading loans$1,811  $1,963  $(152) $2,948  $2,982  $(34) 
LHFS at fair value5,515  5,209  306  5,673  5,563  110  
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 (2019 excludes PCI).
20202019
As of / For The Six Months Ended June 30,
(Dollars in millions)		Carrying ValueValuation AdjustmentsCarrying ValueValuation Adjustments
LHFS$416  $(55) $—  $—  
Loans and leases142  (27) 113  (20) 
Foreclosed real estate43  (104) 36  (117) 
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:
June 30, 2020December 31, 2019
(Dollars in millions)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Financial assets:    
Loans and leases HFI, net of ALLLLevel 3$309,123  $311,802  $298,293  $298,586  
Financial liabilities:  
Time depositsLevel 230,562  30,818  35,896  35,885  
Long-term debtLevel 242,133  42,849  41,339  42,051