XML 49 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-Sale Securities
The table below presents the amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair value aggregated by major security type as of December 31, 2021 and 2020. Accrued interest receivable of $207 million and $230 million as of December 31, 2021 and 2020, respectively, is not included in the table below.
Table 2.1: Investment Securities Available for Sale
December 31, 2021
(Dollars in millions)Amortized
Cost		Allowance
 for Credit
 Losses		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
U.S. Treasury securities$9,419 $0 $23 $0 $9,442 
RMBS:
Agency72,593 0 958 (931)72,620 
Non-agency792 (1)205 0 996 
Total RMBS73,385 (1)1,163 (931)73,616 
Agency CMBS9,237 0 195 (63)9,369 
Other securities(1)
2,830 0 6 (2)2,834 
Total investment securities available for sale$94,871 $(1)$1,387 $(996)$95,261 
 December 31, 2020
(Dollars in millions)Amortized
Cost		Allowance
 for Credit
 Losses		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
U.S. Treasury securities$9,302 $0 $16 $0 $9,318 
RMBS:
Agency73,248 0 2,326 (108)75,466 
Non-agency1,035 (1)204 (1)1,237 
Total RMBS74,283 (1)2,530 (109)76,703 
Agency CMBS11,298 0 448 (11)11,735 
Other securities(1)
2,686 0 3 0 2,689 
Total investment securities available for sale$97,569 $(1)$2,997 $(120)$100,445 
__________    
(1)Includes $2.0 billion and $1.8 billion of asset-backed securities (“ABS”) as of December 31, 2021, and 2020, respectively. The remaining amount is primarily comprised of supranational bonds and foreign government bonds.
Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position
The table below provides the gross unrealized losses and fair value of our securities available for sale aggregated by major security type and the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2021 and 2020. The amounts include securities available for sale without an allowance for credit losses.
Table 2.2: Securities in a Gross Unrealized Loss Position
December 31, 2021
Less than 12 Months12 Months or LongerTotal
(Dollars in millions)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Investment securities available for sale without an allowance for credit losses:
RMBS:
Agency$37,492 $(632)$8,606 $(299)$46,098 $(931)
Non-agency3 0 1 0 4 0 
Total RMBS37,495 (632)8,607 (299)46,102 (931)
Agency CMBS2,999 (36)803 (27)3,802 (63)
Other securities(1)
1,207 (2)0 0 1,207 (2)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(2)
$41,701 $(670)$9,410 $(326)$51,111 $(996)
December 31, 2020
Less than 12 Months12 Months or LongerTotal
(Dollars in millions)Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Investment securities available for sale without an allowance for credit losses:
RMBS:
Agency$7,424 $(57)$1,791 $(51)$9,215 $(108)
Non-agency12 0 0 0 12 0 
Total RMBS7,436 (57)1,791 (51)9,227 (108)
Agency CMBS1,545 (7)267 (4)1,812 (11)
Other securities(1)
114 0 1 0 115 0 
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(2)
$9,095 $(64)$2,059 $(55)$11,154 $(119)
__________
(1)    Includes primarily ABS, foreign government bonds, and supranational bonds.
(2)    Consists of approximately 740 and 320 securities in gross unrealized loss positions as of December 31, 2021 and 2020, respectively.
Schedule of Contractual Maturities for Securities
The table below summarizes, as of December 31, 2021, the fair value of our investment securities by major security type and contractual maturity as well as the total fair value, amortized cost and weighted-average yields of our investment securities by contractual maturity. Because borrowers may have the right to call or prepay certain obligations, the expected maturities of our securities are likely to differ from the scheduled contractual maturities presented below. The weighted-average yield below represents the effective yield for the investment securities and is calculated based on the amortized cost of each security.
Table 2.3: Contractual Maturities and Weighted-Average Yields of Securities
December 31, 2021
(Dollars in millions)Due in
1 Year or Less		Due > 1 Year
through
5 Years		Due > 5 Years
through
10 Years		Due > 10 YearsTotal
Fair value of securities available for sale:
U.S. Treasury securities$5,098 $4,344 $0 $0 $9,442 
RMBS(1):
Agency0 132 1,124 71,364 72,620 
Non-agency0 0 0 996 996 
Total RMBS0 132 1,124 72,360 73,616 
Agency CMBS(1)
630 2,427 3,990 2,322 9,369 
Other securities416 2,098 320 0 2,834 
Total securities available for sale$6,144 $9,001 $5,434 $74,682 $95,261 
Amortized cost of securities available for sale$6,140 $8,965 $5,342 $74,424 $94,871 
Weighted-average yield for securities available for sale0.31 %0.90 %1.86 %1.73 %1.57 %
__________
(1)As of December 31, 2021, the weighted-average expected maturities of RMBS and Agency CMBS were both 5.4 years.
Schedule of Realized Gain (Loss)
The following table presents the gross realized gains or losses and proceeds from the sale of securities available for sale for the years ended December 31, 2021, 2020 and 2019.
Table 2.4: Realized Gains and Losses on Securities
 Year Ended December 31,
(Dollars in millions)202120202019
Realized gains (losses):
Gross realized gains$10 $25 $44 
Gross realized losses(8)0 (18)
Net realized gains$2 $25 $26 
Total proceeds from sales$2,776 $812 $4,780