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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items]  
Schedule of Investment Portfolio
The table below presents the overview of our investment securities portfolio as of December 31, 2016 and 2015.
Table 3.1: Overview of Investment Securities Portfolio
(Dollars in millions)
 
December 31, 2016
 
December 31, 2015
Securities available for sale, at fair value
 
$
40,737

 
$
39,061

Securities held to maturity, at carrying value
 
25,712

 
24,619

Total investment securities
 
$
66,449

 
$
63,680
Schedule of Available-for-Sale Securities
The table below presents the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of December 31, 2016 and 2015.
Table 3.2: Investment Securities Available for Sale
 
 
December 31, 2016
(Dollars in millions)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses(1)
 
Fair
Value
Investment securities available for sale:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
5,103

 
$
11

 
$
(49
)
 
$
5,065

RMBS:
 
 
 
 
 
 
 
 
Agency(2)
 
26,830

 
109

 
(412
)
 
26,527

Non-agency
 
2,349

 
382

 
(9
)
 
2,722

Total RMBS
 
29,179

 
491

 
(421
)
 
29,249

CMBS:
 
 
 
 
 
 
 
 
Agency(2)
 
3,335

 
14

 
(45
)
 
3,304

Non-agency
 
1,676

 
21

 
(13
)
 
1,684

Total CMBS
 
5,011

 
35

 
(58
)
 
4,988

Other ABS(3)
 
714

 
1

 
(1
)
 
714

Other securities(4)
 
726

 
1

 
(6
)
 
721

Total investment securities available for sale
 
$
40,733

 
$
539

 
$
(535
)
 
$
40,737

 
 
December 31, 2015
(Dollars in millions)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses(1)
 
Fair
Value
Investment securities available for sale:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
4,664

 
$
5

 
$
(9
)
 
$
4,660

RMBS:
 
 
 
 
 
 
 
 
Agency(2)
 
24,332

 
165

 
(212
)
 
24,285

Non-agency
 
2,680

 
368

 
(22
)
 
3,026

Total RMBS
 
27,012

 
533

 
(234
)
 
27,311

CMBS:
 
 
 
 
 
 
 
 
Agency(2)
 
3,690

 
21

 
(47
)
 
3,664

Non-agency
 
1,723

 
16

 
(24
)
 
1,715

Total CMBS
 
5,413

 
37

 
(71
)
 
5,379

Other ABS(3)
 
1,345

 
1

 
(6
)
 
1,340

Other securities(4)
 
370

 
2

 
(1
)
 
371

Total investment securities available for sale
 
$
38,804

 
$
578

 
$
(321
)
 
$
39,061

__________
(1) 
Includes non-credit-related OTTI that is recorded in AOCI of $9 million and $22 million as of December 31, 2016 and 2015, respectively. All of this amount is related to non-agency RMBS.
(2) 
Includes Government National Mortgage Association (“Ginnie Mae”) guaranteed securities, Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) issued securities.
(3) 
ABS collateralized by credit card loans constituted approximately 57% and 71% of the other ABS portfolio as of December 31, 2016 and 2015, respectively, and ABS collateralized by auto dealer floor plan inventory loans and leases constituted approximately 23% and 11% of the other ABS portfolio as of December 31, 2016 and 2015, respectively.
(4) 
Includes supranational bonds, foreign government bonds and equity investments.
Investment Securities Held to Maturity
The table below presents the amortized cost, carrying value, gross unrealized gains and losses, and fair value of securities held to maturity as of December 31, 2016 and 2015.
Table 3.3: Investment Securities Held to Maturity
 
 
December 31, 2016
(Dollars in millions)
 
Amortized
Cost
 
Unrealized Losses Recorded in AOCI(1)
 
Carrying Value
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury securities
 
$
199

 
$
0

 
$
199

 
$
0

 
$
0

 
$
199

Agency RMBS
 
23,022

 
(897
)
 
22,125

 
606

 
(158
)
 
22,573

Agency CMBS
 
3,480

 
(92
)
 
3,388

 
77

 
(41
)
 
3,424

Total investment securities held to maturity
 
$
26,701

 
$
(989
)
 
$
25,712

 
$
683

 
$
(199
)
 
$
26,196

 
 
December 31, 2015
(Dollars in millions)
 
Amortized
Cost
 
Unrealized
Losses Recorded in AOCI(1)
 
Carrying Value
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury securities
 
$
199

 
$
0

 
$
199

 
$
0

 
$
(1
)
 
$
198

Agency RMBS
 
22,561

 
(1,048
)
 
21,513

 
692

 
(72
)
 
22,133

Agency CMBS
 
3,012

 
(105
)
 
2,907

 
87

 
(8
)
 
2,986

Total investment securities held to maturity
 
$
25,772

 
$
(1,153
)
 
$
24,619

 
$
779

 
$
(81
)
 
$
25,317

__________
(1) 
Certain investment securities were transferred from the available for sale category to the held to maturity category in 2013. This amount represents the unrealized holding gain or loss at the date of transfer, net of any subsequent accretion. Any bonds purchased into the securities held to maturity portfolio rather than transferred, will not have unrealized losses recognized in AOCI.
Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position
The table below provides, by major security type, information about our securities available for sale in a gross unrealized loss position and the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2016 and 2015.
Table 3.4: Securities in a Gross Unrealized Loss Position
 
 
December 31, 2016
 
 
Less than 12 Months
 
12 Months or Longer
 
Total
(Dollars in millions)
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
Investment securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
1,060

 
$
(49
)
 
$
0

 
$
0

 
$
1,060

 
$
(49
)
RMBS:
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
16,899

 
(329
)
 
4,865

 
(83
)
 
21,764

 
(412
)
Non-agency
 
128

 
(2
)
 
145

 
(7
)
 
273

 
(9
)
Total RMBS
 
17,027

 
(331
)
 
5,010

 
(90
)
 
22,037

 
(421
)
CMBS:
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
1,624

 
(21
)
 
745

 
(24
)
 
2,369

 
(45
)
Non-agency
 
826

 
(11
)
 
129

 
(2
)
 
955

 
(13
)
Total CMBS
 
2,450

 
(32
)
 
874

 
(26
)
 
3,324

 
(58
)
Other ABS
 
187

 
(1
)
 
21

 
0

 
208

 
(1
)
Other securities
 
417

 
(6
)
 
0

 
0

 
417

 
(6
)
Total investment securities available for sale in a gross unrealized loss position
 
$
21,141

 
$
(419
)
 
$
5,905

 
$
(116
)
 
$
27,046

 
$
(535
)
 
 
December 31, 2015
 
 
Less than 12 Months
 
12 Months or Longer
 
Total
(Dollars in millions)
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
Investment securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
3,096

 
$
(9
)
 
$
1

 
$
0

 
$
3,097

 
$
(9
)
RMBS:
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
12,025

 
(110
)
 
4,420

 
(102
)
 
16,445

 
(212
)
Non-agency
 
355

 
(10
)
 
155

 
(12
)
 
510

 
(22
)
Total RMBS
 
12,380

 
(120
)
 
4,575

 
(114
)
 
16,955

 
(234
)
CMBS:
 
 
 
 
 
 
 
 
 
 
 
 
Agency
 
1,352

 
(9
)
 
1,148

 
(38
)
 
2,500

 
(47
)
Non-agency
 
739

 
(13
)
 
330

 
(11
)
 
1,069

 
(24
)
Total CMBS
 
2,091

 
(22
)
 
1,478

 
(49
)
 
3,569

 
(71
)
Other ABS
 
825

 
(5
)
 
255

 
(1
)
 
1,080

 
(6
)
Other securities
 
250

 
0

 
19

 
(1
)
 
269

 
(1
)
Total investment securities available for sale in a gross unrealized loss position
 
$
18,642

 
$
(156
)
 
$
6,328

 
$
(165
)
 
$
24,970

 
$
(321
)
Schedule of Contractual Maturities for Securities
The table below summarizes, by major security type, the expected maturities and weighted-average yields of our investment securities as of December 31, 2016.
Table 3.7: Expected Maturities and Weighted-Average Yields of Securities
 
 
December 31, 2016
(Dollars in millions)
 
Due in
1 Year or Less
 
Due > 1 Year
through
5 Years
 
Due > 5 Years
through
10 Years
 
Due > 10 Years
 
Total
Fair value of securities available for sale:
U.S. Treasury securities
 
$
652

 
$
2,854

 
$
1,559

 
$
0

 
$
5,065

RMBS:
 
 
 
 
 
 
 
 
 
 
Agency
 
94

 
9,755

 
16,678

 
0

 
26,527

Non-agency
 
29

 
941

 
1,436

 
316

 
2,722

Total RMBS
 
123

 
10,696

 
18,114

 
316

 
29,249

CMBS:
 
 
 
 
 
 
 
 
 
 
Agency
 
144

 
1,544

 
1,616

 
0

 
3,304

Non-agency
 
146

 
780

 
758

 
0

 
1,684

Total CMBS
 
290

 
2,324

 
2,374

 
0

 
4,988

Other ABS
 
247

 
460

 
7

 
0

 
714

Other securities
 
207

 
344

 
77

 
93

 
721

Total securities available for sale
 
$
1,519

 
$
16,678

 
$
22,131

 
$
409

 
$
40,737

Amortized cost of securities available for sale
 
$
1,521

 
$
16,548

 
$
22,286

 
$
378

 
$
40,733

Weighted-average yield for securities available for sale(1)
 
1.26
%
 
2.17
%
 
2.51
%
 
6.55
%
 
2.36
%
Carrying value of securities held to maturity:
U.S. Treasury securities
 
$
0

 
$
199

 
$
0

 
$
0

 
$
199

Agency RMBS
 
0

 
1,363

 
16,418

 
4,344

 
22,125

Agency CMBS
 
0

 
130

 
2,456

 
802

 
3,388

Total securities held to maturity
 
$
0

 
$
1,692

 
$
18,874

 
$
5,146

 
$
25,712

Fair value of securities held to maturity
 
$
0

 
$
1,714

 
$
19,314

 
$
5,168

 
$
26,196

Weighted-average yield for securities held to maturity(1)
 
0.00
%
 
2.71
%
 
2.54
%
 
3.33
%
 
2.70
%
__________
(1) 
The weighted-average yield represents the effective yield for the investment securities and is calculated based on the amortized cost of each security.
Schedule of Credit Losses Related to Debt Securities Recognized in Earnings
The table below presents a rollforward of the credit-related OTTI recognized in earnings for the years ended December 31, 2016, 2015 and 2014 on investment securities for which we had no intent to sell.
Table 3.8: Credit Impairment Rollforward
 
 
Year Ended December 31,
(Dollars in millions)
 
2016
 
2015
 
2014
Credit loss component, beginning of period
 
$
199

 
$
175

 
$
160

Additions:
 
 
 
 
 
 
Initial credit impairment
 
3

 
7

 
5

Subsequent credit impairment
 
8

 
18

 
12

Total additions
 
11

 
25

 
17

Reductions due to payoffs, disposals, transfers and other
 
(3
)
 
(1
)
 
(2
)
Credit loss component, end of period
 
$
207

 
$
199

 
$
175
Schedule of Gross Realized Gains and Losses on Sale and Redemption of Available-for-Sale Securities Recognized in Earnings
The following table presents the gross realized gains and losses on the sale and redemption of securities available for sale, and the OTTI losses recognized in earnings for the years ended December 31, 2016, 2015 and 2014. We also present the proceeds from the sale of securities available for sale for the periods presented. We did not sell any investment securities that are classified as held to maturity.
Table 3.9: Realized Gains and Losses and OTTI Recognized in Earnings
 
 
Year Ended December 31,
(Dollars in millions)
 
2016
 
2015
 
2014
Realized gains (losses):
 
 
 
 
 
 
Gross realized gains
 
$
12

 
$
23

 
$
55

Gross realized losses
 
(6
)
 
(25
)
 
(34
)
Net realized gains (losses) gains
 
6

 
(2
)
 
21

OTTI recognized in earnings:
 
 
 
 
 
 
Credit-related OTTI
 
(11
)
 
(25
)
 
(17
)
Intent-to-sell OTTI
 
(6
)
 
(5
)
 
(7
)
Total OTTI recognized in earnings
 
(17
)
 
(30
)
 
(24
)
Net securities gains (losses)
 
$
(11
)
 
$
(32
)
 
$
(3
)
Total proceeds from sales
 
$
4,146

 
$
4,379

 
$
7,417
Schedule of Outstanding Contractual Balance and Carrying Value of Credit-Impaired ING Direct Debt Securities
The table below presents the outstanding balance and carrying value of the purchased credit-impaired debt securities as of December 31, 2016 and 2015.
Table 3.10: Outstanding Balance and Carrying Value of Acquired Credit-Impaired Debt Securities
(Dollars in millions)
 
December 31, 2016
 
December 31, 2015
Outstanding balance
 
$
2,899

 
$
3,285

Carrying value
 
2,277

 
2,480
Schedule of Changes in Accretable Yield of Acquired Securities
The following table presents changes in the accretable yield related to the purchased credit-impaired debt securities for the years ended December 31, 2016, 2015 and 2014.
Table 3.11: Changes in the Accretable Yield of Purchased Credit-Impaired Debt Securities
 
 
Year Ended December 31,
(Dollars in millions)
 
2016
 
2015
 
2014
Accretable yield, beginning of period
 
$
1,237

 
$
1,250

 
$
1,423

Additions from new acquisitions
 
0

 
0

 
34

Accretion recognized in earnings
 
(206
)
 
(240
)
 
(243
)
Reduction due to payoffs, disposals, transfers and other
 
(2
)
 
(1
)
 
(3
)
Net reclassifications from nonaccretable difference
 
144

 
228

 
39

Accretable yield, end of period
 
$
1,173

 
$
1,237

 
$
1,250
Available-for-sale Securities  
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items]  
Schedule of Contractual Maturities for Securities
The following tables summarize the remaining scheduled contractual maturities, assuming no prepayments, of our investment securities as of December 31, 2016.
Table 3.5: Contractual Maturities of Securities Available for Sale

 
December 31, 2016
 (Dollars in millions)
 
Amortized Cost
 
Fair Value
Due in 1 year or less
 
$
1,025

 
$
1,027

Due after 1 year through 5 years
 
4,100

 
4,106

Due after 5 years through 10 years
 
3,382

 
3,350

Due after 10 years(1)
 
32,226

 
32,254

Total
 
$
40,733

 
$
40,737

__________
(1) 
Investments with no stated maturities, which consist of equity securities, are included with contractual maturities due after 10 years.
Securities Held to Maturity  
Schedule Of Expected Maturity And Weighted Average Yield Of Securities [Line Items]  
Schedule of Contractual Maturities for Securities
Table 3.6: Contractual Maturities of Securities Held to Maturity
 
 
December 31, 2016
 (Dollars in millions)
 
Carrying Value
 
Fair Value
Due after 1 year through 5 years
 
$
199

 
$
199

Due after 5 years through 10 years
 
1,363

 
1,422

Due after 10 years
 
24,150

 
24,575

Total
 
$
25,712

 
$
26,196