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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2023
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 June 30, 2023 and December 31, 2022. Accrued interest receivable of $224 million and $215 million as of June 30, 2023 and December 31, 2022, respectively, is not included in the table below.
Table 2.1: Investment Securities Available for Sale
June 30, 2023
(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$5,197 $0 $0 $(87)$5,110 
RMBS:
Agency72,085 0 41 (9,322)62,804 
Non-agency631 (4)92 (5)714 
Total RMBS72,716 (4)133 (9,327)63,518 
Agency CMBS8,757 0 7 (752)8,012 
Other securities(1)
1,775 0 3 (6)1,772 
Total investment securities available for sale$88,445 $(4)$143 $(10,172)$78,412 
 December 31, 2022
(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$5,129 $0 $2 $(90)$5,041 
RMBS:
Agency71,212 0 53 (9,413)61,852 
Non-agency653 (3)93 (6)737 
Total RMBS71,865 (3)146 (9,419)62,589 
Agency CMBS8,626 0 4 (760)7,870 
Other securities(1)
1,427 0 2 (10)1,419 
Total investment securities available for sale$87,047 $(3)$154 $(10,279)$76,919 
__________    
(1)Includes $1.1 billion and $707 million of asset-backed securities (“ABS”) as of June 30, 2023 and December 31, 2022, 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 June 30, 2023 and December 31, 2022. The amounts include securities available for sale without an allowance for credit losses.
Table 2.2: Securities in a Gross Unrealized Loss Position
June 30, 2023
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:
U.S. Treasury securities$3,458 $(33)$1,145 $(54)$4,603 $(87)
RMBS:
Agency12,256 (466)48,956 (8,856)61,212 (9,322)
Non-agency9 0 8 (1)17 (1)
Total RMBS12,265 (466)48,964 (8,857)61,229 (9,323)
Agency CMBS1,505 (49)5,783 (703)7,288 (752)
Other securities765 (2)330 (4)1,095 (6)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)
$17,993 $(550)$56,222 $(9,618)$74,215 $(10,168)
December 31, 2022
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:
U.S. Treasury securities$2,464 $(57)$448 $(33)$2,912 $(90)
RMBS:
Agency23,271 (1,809)36,803 (7,604)60,074 (9,413)
Non-agency14 (1)3 0 17 (1)
Total RMBS23,285 (1,810)36,806 (7,604)60,091 (9,414)
Agency CMBS4,325 (267)3,214 (493)7,539 (760)
Other securities555 (7)76 (3)631 (10)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)
$30,629 $(2,141)$40,544 $(8,133)$71,173 $(10,274)
__________
(1)    Consists of approximately 2,860 and 2,840 securities in gross unrealized loss positions as of June 30, 2023 and December 31, 2022, respectively.
Schedule of Contractual Maturities for Securities The table below summarizes, as of June 30, 2023, 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. Since 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
June 30, 2023
(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$753$4,357$0$0$5,110
RMBS(1):
Agency0791,18161,54462,804
Non-agency001713714
Total RMBS0791,18262,25763,518
Agency CMBS(1)
492,4293,4922,0428,012
Other securities4121,3303001,772
Total securities available for sale$1,214$8,195$4,704$64,299$78,412
Amortized cost of securities available for sale$1,219$8,452$5,204$73,570$88,445
Weighted-average yield for securities available for sale4.16%3.56%3.00%2.77%2.88%
__________
(1)As of June 30, 2023, the weighted-average expected maturities of RMBS and Agency CMBS were 6.9 years and 4.7 years, respectively.