Fair Value (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present information with respect to our financial assets and liabilities carried at fair value in our consolidated statement of condition on a recurring basis as of the dates indicated. No transfers of financial assets or liabilities between levels 1 and 2 occurred in the nine months ended September 30, 2014 or the year ended December 31, 2013.

	Fair-Value Measurements on a Recurring Basis
	as of September 30, 2014
(In millions)	Quoted Market Prices in Active Markets (Level 1)		Pricing Methods with Significant Observable Market Inputs (Level 2)		Pricing Methods with Significant Unobservable Market Inputs (Level 3)		Impact of Netting(1)			Total Net Carrying Value in Consolidated Statement of Condition
Assets:
Trading account assets:
U.S. government securities	$	37	$	—	$	—				$	37
Non-U.S. government securities	479		—		—					479
Other	52		465		—					517
Total trading account assets	568		465		—					1,033
Investment securities available for sale:
U.S. Treasury and federal agencies:
Direct obligations	10,139		625		—					10,764
Mortgage-backed securities	—		20,941		260					21,201
Asset-backed securities:
Student loans	—		12,540		266					12,806
Credit cards	—		3,111		—					3,111
Sub-prime	—		997		—					997
Other	—		399		3,944					4,343
Total asset-backed securities	—		17,047		4,210					21,257
Non-U.S. debt securities:
Mortgage-backed securities	—		10,239		—					10,239
Asset-backed securities	—		3,023		424					3,447
Government securities	—		3,613		—					3,613
Other	—		5,551		298					5,849
Total non-U.S. debt securities	—		22,426		722					23,148
State and political subdivisions	—		10,604		41					10,645
Collateralized mortgage obligations	—		4,437		234					4,671
Other U.S. debt securities	—		4,276		8					4,284
U.S. equity securities	—		38		—					38
Non-U.S. equity securities	—		2		—					2
U.S. money-market mutual funds	—		532		—					532
Non-U.S. money-market mutual funds	—		10		—					10
Total investment securities available for sale	10,139		80,938		5,475					96,552
Other assets:
Derivative instruments:
Foreign exchange contracts	—		16,797		68		$	(8,162	)	8,703
Interest-rate contracts	—		63		—		(58		)	5
Other derivative contracts	—		4		—		—			4
Total derivative instruments	—		16,864		68		(8,220		)	8,712
Other	115		—		—		—			115
Total assets carried at fair value	$	10,822	$	98,267	$	5,543	$	(8,220	)	$	106,412
Liabilities:
Accrued expenses and other liabilities:
Trading account liabilities:
U.S. government securities	$	92	$	—	$	—	$	—		$	92
Non-U.S. government securities	50		—		—		—			50
Other	3		—		—		—			3
Derivative instruments:
Foreign exchange contracts	—		16,500		59		(9,911		)	$	6,648
Interest-rate contracts	—		241		—		(49		)	192
Other derivative contracts	—		64		9		—			73
Total derivative instruments	—		16,805		68		(9,960		)	6,913
Other	115		—		—		—			115
Total liabilities carried at fair value	$	260	$	16,805	$	68	$	(9,960	)	$	7,173

⁽¹⁾ Represents counterparty netting against level-2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty. Netting also reflects asset and liability reductions of $841 million and $2.58 billion, respectively, for cash collateral received from and provided to derivative counterparties.

	Fair-Value Measurements on a Recurring Basis
	as of December 31, 2013
(In millions)	Quoted Market Prices in Active Markets (Level 1)		Pricing Methods with Significant Observable Market Inputs (Level 2)		Pricing Methods with Significant Unobservable Market Inputs (Level 3)		Impact of Netting(1)			Total Net Carrying Value in Consolidated Statement of Condition
Assets:
Trading account assets:
U.S. government securities	$	20	$	—	$	—				$	20
Non-U.S. government securities	399		—		—					399
Other	67		357		—					424
Total trading account assets	486		357		—					843
Investment securities available for sale:
U.S. Treasury and federal agencies:
Direct obligations	—		709		—					709
Mortgage-backed securities	—		22,847		716					23,563
Asset-backed securities:
Student loans	—		14,119		423					14,542
Credit cards	—		8,186		24					8,210
Sub-prime	—		1,203		—					1,203
Other	—		532		4,532					5,064
Total asset-backed securities	—		24,040		4,979					29,019
Non-U.S. debt securities:
Mortgage-backed securities	—		10,654		375					11,029
Asset-backed securities	—		4,592		798					5,390
Government securities	—		3,761		—					3,761
Other	—		4,263		464					4,727
Total non-U.S. debt securities	—		23,270		1,637					24,907
State and political subdivisions	—		10,220		43					10,263
Collateralized mortgage obligations	—		5,107		162					5,269
Other U.S. debt securities	—		4,972		8					4,980
U.S. equity securities	—		34		—					34
Non-U.S. equity securities	—		1		—					1
U.S. money-market mutual funds	—		422		—					422
Non-U.S. money-market mutual funds	—		7		—					7
Total investment securities available for sale	—		91,629		7,545					99,174
Other assets:
Derivatives instruments:
Foreign exchange contracts	—		11,892		19		$	(6,442	)	5,469
Interest-rate contracts	—		65		—		(59		)	6
Other derivative contracts	—		1		—		—			1
Total derivative instruments	—		11,958		19		(6,501		)	5,476
Other	97		—		—		—			97
Total assets carried at fair value	$	583	$	103,944	$	7,564	$	(6,501	)	$	105,590
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts	$	—	$	11,454	$	17	$	(5,458	)	$	6,013
Interest-rate contracts	—		331		—		(94		)	237
Other derivative contracts	—		—		9		—			9
Total derivative instruments	—		11,785		26		(5,552		)	6,259
Other	97		—		—		—			97
Total liabilities carried at fair value	$	97	$	11,785	$	26	$	(5,552	)	$	6,356

⁽¹⁾ Represents counterparty netting against level-2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty. Netting also reflects asset and liability reductions of $1.93 billion and $979 million, respectively, for cash collateral received from and provided to derivative counterparties.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables present activity related to our level-3 financial assets and liabilities during the three and nine months ended September 30, 2014 and 2013, respectively. Transfers into and out of level 3 are reported as of the beginning of the period presented. In the three and nine months ended September 30, 2014 and 2013, respectively, transfers out of level 3 were mainly related to certain mortgage- and asset-backed securities, including non-U.S. debt securities, for which fair value was measured using prices for which observable market information became available.

	Fair Value Measurements Using Significant Unobservable Inputs
	Three Months Ended September 30, 2014
	Fair Value  as of June 30, 2014		Total Realized and Unrealized Gains (Losses)					Purchases		Issuances		Sales			Settlements			Transfers into Level 3		Transfers out of Level 3			Fair Value  as of September 30, 2014		Change in Unrealized Gains (Losses) Related to Financial Instruments Held as of September 30, 2014
(In millions)			Recorded in Revenue		Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies, mortgage-backed securities	$	96	$	—	$	—		$	168	$	—	$	—		$	(4	)	$	—	$	—		$	260
Asset-backed securities:
Student loans	322		—		(1		)	24		—		(74		)	(5		)	—		—			266
Other	4,061		18		(8		)	275		—		—			(402		)	—		—			3,944
Total asset-backed securities	4,383		18		(9		)	299		—		(74		)	(407		)	—		—			4,210
Non-U.S. debt securities:
Asset-backed securities	506		2		(1		)	—		—		—			(99		)	76		(60		)	424
Other	515		—		—			—		—		—			(25		)	—		(192		)	298
Total non-U.S. debt securities	1,021		2		(1		)	—		—		—			(124		)	76		(252		)	722
State and political subdivisions	41		—		—			—		—		—			—			—		—			41
Collateralized mortgage obligations	196		—		—			125		—		—			(7		)	—		(80		)	234
Other U.S. debt securities	9		—		—			—		—		—			(1		)	—		—			8
Total investment securities available for sale	5,746		20		(10		)	592		—		(74		)	(543		)	76		(332		)	5,475
Other assets:
Derivative instruments:
Derivative instruments, Foreign exchange contracts	10		44		—			22		—		—			(8		)	—		—			68		$	40
Total derivative instruments	10		44		—			22		—		—			(8		)	—		—			68		40
Total assets carried at fair value	$	5,756	$	64	$	(10	)	$	614	$	—	$	(74	)	$	(551	)	$	76	$	(332	)	$	5,543	$	40

	Fair-Value Measurements Using Significant Unobservable Inputs
	Three Months Ended September 30, 2014
	Fair Value  as of June 30, 2014		Total Realized and Unrealized (Gains) Losses				Purchases		Issuances		Sales		Settlements			Transfers into Level 3		Transfers out of Level 3		Fair Value  as of September 30, 2014		Change in Unrealized (Gains) Losses Related to Financial Instruments Held as of September 30, 2014
(In millions)			Recorded in Revenue		Recorded in Other Comprehensive Income
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts	$	10	$	36	$	—	$	—	$	18	$	—	$	(5	)	$	—	$	—	$	59	$	35
Other	9		—		—		—		—		—		—			—		—		9		—
Total derivative instruments	19		36		—		—		18		—		(5		)	—		—		68		35
Total liabilities carried at fair value	$	19	$	36	$	—	$	—	$	18	$	—	$	(5	)	$	—	$	—	$	68	$	35

	Fair-Value Measurements Using Significant Unobservable Inputs
	Nine Months Ended September 30, 2014
	Fair Value  as of December 31, 2013		Total Realized and Unrealized Gains (Losses)					Purchases		Issuances		Sales			Settlements			Transfers into Level 3		Transfers out of Level 3			Fair Value  as of September 30, 2014		Change in Unrealized Gains (Losses) Related to Financial Instruments Held as of September 30, 2014
(In millions)			Recorded in Revenue		Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies, mortgage-backed securities	$	716	$	—	$	—		$	168	$	—	$	—		$	(14	)	$	—	$	(610	)	$	260
Asset-backed securities:
Student loans	423		1		2			24		—		(74		)	(31		)	—		(79		)	266
Credit cards	24		—		—			—		—		—			(24		)	—		—			—
Other	4,532		46		(14		)	282		—		—			(902		)	—		—			3,944
Total asset-backed securities	4,979		47		(12		)	306		—		(74		)	(957		)	—		(79		)	4,210
Non-U.S. debt securities:
Mortgage-backed securities	375		—		—			—		—		—			—			—		(375		)	—
Asset-backed securities	798		5		—			—		—		—			(219		)	76		(236		)	424
Other	464		—		—			55		—		(1		)	(28		)	—		(192		)	298
Total non-U.S. debt securities	1,637		5		—			55		—		(1		)	(247		)	76		(803		)	722
State and political subdivisions	43		1		(1		)	—		—		—			(2		)	—		—			41
Collateralized mortgage obligations	162		—		1			205		—		(6		)	(20		)	—		(108		)	234
Other U.S. debt securities	8		—		—			—		—		—			—			—		—			8
Total investment securities available for sale	7,545		53		(12		)	734		—		(81		)	(1,240		)	76		(1,600		)	5,475
Other assets:
Derivative instruments:
Derivative instruments, Foreign exchange contracts	19		26		—			32		—		—			(9		)	—		—			68		$	35
Total derivative instruments	19		26		—			32		—		—			(9		)	—		—			68		35
Total assets carried at fair value	$	7,564	$	79	$	(12	)	$	766	$	—	$	(81	)	$	(1,249	)	$	76	$	(1,600	)	$	5,543	$	35

	Fair-Value Measurements Using Significant Unobservable Inputs
	Nine months ended September 30, 2014
	Fair Value  as of December 31, 2013		Total Realized and Unrealized (Gains) Losses				Purchases		Issuances		Sales		Settlements			Transfers into Level 3		Transfers out of Level 3		Fair Value  as of September 30, 2014		Change in Unrealized (Gains) Losses Related to Financial Instruments Held as of September 30, 2014
(In millions)			Recorded in Revenue		Recorded in Other Comprehensive Income
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts	$	17	$	22	$	—	$	—	$	28	$	—	$	(8	)	$	—	$	—	$	59	$	32
Other	9		—		—		—		—		—		—			—		—		9		—
Total derivative instruments	26		22		—		—		28		—		(8		)	—		—		68		32
Total liabilities carried at fair value	$	26	$	22	$	—	$	—	$	28	$	—	$	(8	)	$	—	$	—	$	68	$	32

	Fair Value Measurements Using Significant Unobservable Inputs
	Three Months Ended September 30, 2013
	Fair Value as of June 30, 2013		Total Realized and Unrealized Gains (Losses)						Purchases		Issuances		Sales			Settlements			Transfers into Level 3		Transfers out of Level 3			Fair Value  as of September 30, 2013		Change in Unrealized Gains (Losses) Related to Financial Instruments Held as of September 30, 2013
(In millions)			Recorded in Revenue			Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies, mortgage-backed securities	$	864	$	—		$	(1	)	$	—	$	—	$	—		$	(29	)	$	—	$	(93	)	$	741
Asset-backed securities:
Student loans	380		—			(2		)	—		—		—			(10		)	—		—			368
Credit cards	24		—			—			—		—		—			—			—		—			24
Other	3,848		13			(5		)	793		—		(24		)	(275		)	—		—			4,350
Total asset-backed securities	4,252		13			(7		)	793		—		(24		)	(285		)	—		—			4,742
Non-U.S. debt securities:
Mortgage-backed securities	328		—			(1		)	—		—		—			13			—		—			340
Asset-backed securities	756		1			1			164		—		—			(19		)	—		(104		)	799
Other	281		—			(1		)	149		—		—			12			—		—			441
Total non-U.S. debt securities	1,365		1			(1		)	313		—		—			6			—		(104		)	1,580
State and political subdivisions	45		—			(1		)	—		—		—			—			—		—			44
Collateralized mortgage obligations	238		—			(5		)	50		—		—			(11		)	15		(100		)	187
Other U.S. debt securities	9		—			—			—		—		—			—			—		—			9
Total investment securities available for sale	6,773		14			(15		)	1,156		—		(24		)	(319		)	15		(297		)	7,303
Other assets:
Derivative instruments:
Derivative instruments, Foreign exchange contracts	121		(21		)	—			7		—		—			(30		)	—		—			77		$	(16	)
Total derivative instruments	121		(21		)	—			7		—		—			(30		)	—		—			77		(16		)
Total assets carried at fair value	$	6,894	$	(7	)	$	(15	)	$	1,163	$	—	$	(24	)	$	(349	)	$	15	$	(297	)	$	7,380	$	(16	)

	Fair Value Measurements Using Significant Unobservable Inputs
	Three Months Ended September 30, 2013
	Fair Value as of June 30, 2013		Total Realized and Unrealized (Gains) Losses					Purchases		Issuances		Sales		Settlements			Transfers into Level 3		Transfers out of Level 3		Fair Value as of September 30, 2013		Change in Unrealized (Gains) Losses Related to Financial Instruments Held as of September 30, 2013
(In millions)			Recorded in Revenue			Recorded in Other Comprehensive Income
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts	$	108	$	(17	)	$	—	$	—	$	5	$	—	$	(41	)	$	—	$	—	$	55	$	(15	)
Other	9		—			—		—		—		—		—			—		—		9		—
Total derivative instruments	117		(17		)	—		—		5		—		(41		)	—		—		64		(15		)
Total liabilities carried at fair value	$	117	$	(17	)	$	—	$	—	$	5	$	—	$	(41	)	$	—	$	—	$	64	$	(15	)

	Fair-Value Measurements Using Significant Unobservable Inputs
	Nine Months Ended September 30, 2013
	Fair Value  as of December 31, 2012		Total Realized and Unrealized Gains (Losses)					Purchases		Issuances		Sales			Settlements			Transfers into Level 3		Transfers out of Level 3			Fair Value  as of September 30, 2013		Change in Unrealized Gains (Losses) Related to Financial Instruments Held as of September 30, 2013
(In millions)			Recorded in Revenue		Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	825	$	—	$	(1	)	$	92	$	—	$	—		$	(83	)	$	—	$	(92	)	$	741
Asset-backed securities:
Student loans	588		1		6			—		—		(26		)	(26		)	—		(175		)	368
Credit cards	67		—		—			—		—		—			(43		)	—		—			24
Other	3,994		40		25			1,358		—		(33		)	(1,034		)	—		—			4,350
Total asset-backed securities	4,649		41		31			1,358		—		(59		)	(1,103		)	—		(175		)	4,742
Non-U.S. debt securities:
Mortgage-backed securities	555		—		(1		)	—		—		—			(6		)	—		(208		)	340
Asset-backed securities	524		4		2			399		—		—			(88		)	139		(181		)	799
Other	140		—		—			328		—		—			13			—		(40		)	441
Total non-U.S. debt securities	1,219		4		1			727		—		—			(81		)	139		(429		)	1,580
State and political subdivisions	48		—		(1		)	—		—		—			(3		)	—		—			44
Collateralized mortgage obligations	117		1		(5		)	190		—		—			(31		)	15		(100		)	187
Other U.S. debt securities	9		—		—			—		—		—			—			—		—			9
Total investment securities available for sale	6,867		46		25			2,367		—		(59		)	(1,301		)	154		(796		)	7,303
Other assets:
Derivative instruments:
Foreign exchange contracts	113		119		—			25		—		—			(180		)	—		—			77		$	29
Total derivative instruments	113		119		—			25		—		—			(180		)	—		—			77		29
Total assets carried at fair value	$	6,980	$	165	$	25		$	2,392	$	—	$	(59	)	$	(1,481	)	$	154	$	(796	)	$	7,380	$	29

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

	Fair-Value Measurements Using Significant Unobservable Inputs
	Nine Months Ended September 30, 2013
	Fair Value  as of December 31, 2012		Total Realized and Unrealized (Gains) Losses				Purchases		Issuances		Sales		Settlements			Transfers into Level 3		Transfers out of Level 3		Fair Value  as of September 30, 2013		Change in Unrealized (Gains) Losses Related to Financial Instruments Held as of September 30, 2013
(In millions)			Recorded in Revenue		Recorded in Other Comprehensive Income
Liabilities:
Accrued expenses and other liabilities:
Derivative instruments:
Foreign exchange contracts	$	106	$	59	$	—	$	—	$	24	$	—	$	(134	)	$	—	$	—	$	55	$	15
Other	9		—		—		—		—		—		—			—		—		9		—
Total derivative instruments	115		59		—		—		24		—		(134		)	—		—		64		15
Total liabilities carried at fair value	$	115	$	59	$	—	$	—	$	24	$	—	$	(134	)	$	—	$	—	$	64	$	15

Level 3 Total Realized And Unrealized Gains And Losses Recorded In Revenue

The following table presents total realized and unrealized gains and losses for the periods indicated that were recorded in revenue for our level-3 financial assets and liabilities:

	Three Months Ended September 30,										Nine Months Ended September 30,
	Total Realized and Unrealized Gains (Losses) Recorded in Revenue					Change in Unrealized Gains (Losses) Related to Financial Instruments Held at September 30,					Total Realized and Unrealized Gains (Losses) Recorded in Revenue				Change in Unrealized Gains (Losses) Related to Financial Instruments Held at September 30,
(In millions)	2014		2013			2014		2013			2014		2013		2014		2013
Fee revenue:
Trading services	$	8	$	(4	)	$	5	$	(1	)	$	4	$	60	$	3	$	14
Total fee revenue	8		(4		)	5		(1		)	4		60		3		14
Net interest revenue	20		14			—		—			53		46		—		—
Total revenue	$	28	$	10		$	5	$	(1	)	$	57	$	106	$	3	$	14

Fair Value Inputs, Assets and Liabilities, Quantitative Information

The following table presents quantitative information, as of the dates indicated, about the valuation techniques and significant unobservable inputs used in the valuation of our level-3 financial assets and liabilities measured at fair value on a recurring basis for which we use internally-developed pricing models. The significant unobservable inputs for our level-3 financial assets and liabilities whose fair value is measured using pricing information from non-binding broker or dealer quotes are not included in the table, as the specific inputs applied are not provided by the broker/dealer.

	Quantitative Information about Level-3 Fair-Value Measurements
	Fair Value						Weighted-Average
(Dollars in millions)	As of September 30, 2014		As of December 31, 2013		Valuation Technique	Significant Unobservable Input	As of September 30, 2014		As of December 31, 2013
Significant unobservable inputs readily available to State Street:
Assets:
Asset-backed securities, student loans	$	—	$	13	Discounted cash flows	Credit spread	—	%	3.5	%
Asset-backed securities, credit cards	—		24		Discounted cash flows	Credit spread	—		2.0
Asset-backed securities, other	66		92		Discounted cash flows	Credit spread	0.2		1.5
State and political subdivisions	41		43		Discounted cash flows	Credit spread	1.6		1.7
Derivative instruments, foreign exchange contracts	68		19		Option model	Volatility	7.7		11.4
Total	$	175	$	191
Liabilities:
Derivative instruments, foreign exchange contracts	$	59	$	17	Option model	Volatility	7.7		11.2
Derivative instruments, other(1)	9		9		Discounted cash flows	Participant redemptions	6.0		7.5
Total	$	68	$	26

⁽¹⁾ Relates to stable value wrap contracts; refer to the sensitivity discussion following the tables presented below, and to note 7.

Schedule of Availability of Significant Unobservable Inputs by Balance Sheet Classification

The following tables present information with respect to the composition of our level-3 financial assets and

liabilities, by availability of significant unobservable inputs, as of the dates indicated:

September 30, 2014	Significant Unobservable Inputs Readily Available to State Street(1)		Significant Unobservable Inputs Not Developed by State Street and Not Readily Available(2)		Total Assets and Liabilities with Significant Unobservable Inputs
(In millions)
Assets:
U.S. Treasury and federal agencies, mortgage-backed securities	$	—	$	260	$	260
Asset-backed securities, student loans	—		266		266
Asset-backed securities, other	66		3,878		3,944
Non-U.S. debt securities, asset-backed securities	—		424		424
Non-U.S. debt securities, other	—		298		298
State and political subdivisions	41		—		41
Collateralized mortgage obligations	—		234		234
Other U.S. debt securities	—		8		8
Derivative instruments, foreign exchange contracts	68		—		68
Total	$	175	$	5,368	$	5,543
Liabilities:
Derivative instruments, foreign exchange contracts	$	59	$	—	$	59
Derivative instruments, other	9		—		9
Total	$	68	$	—	$	68

⁽¹⁾ Information with respect to these model-priced financial assets and liabilities is provided above in a separate table.

⁽²⁾ Fair value for these financial assets is measured using non-binding broker or dealer quotes.

December 31, 2013	Significant Unobservable Inputs Readily Available to State Street(1)		Significant Unobservable Inputs Not Developed by State Street and Not Readily Available(2)		Total Assets and Liabilities with Significant Unobservable Inputs
(In millions)
Assets:
U.S. Treasury and federal agencies, mortgage-backed securities	$	—	$	716	$	716
Asset-backed securities, student loans	13		410		423
Asset-backed securities, credit cards	24		—		24
Asset-backed securities, other	92		4,440		4,532
Non-U.S. debt securities, mortgage-backed securities	—		375		375
Non-U.S. debt securities, asset-backed securities	—		798		798
Non-U.S. debt securities, other	—		464		464
State and political subdivisions	43		—		43
Collateralized mortgage obligations	—		162		162
Other U.S. debt securities	—		8		8
Derivative instruments, foreign exchange contracts	19		—		19
Total	$	191	$	7,373	$	7,564
Liabilities:
Derivative instruments, foreign exchange contracts	$	17	$	—	$	17
Derivative instruments, other	9		—		9
Total	$	26	$	—	$	26

⁽¹⁾ Information with respect to these model-priced financial assets and liabilities is provided above in a separate table.

⁽²⁾ Fair value for these financial assets is measured using non-binding broker or dealer quotes.

Carrying Value and Estimated Fair Value of Financial Instruments by Fair Value Hierarchy

The following tables present the reported amounts and estimated fair values of the financial instruments defined by GAAP, excluding financial assets and liabilities carried at fair value on a recurring basis, as they would be categorized within the fair-value hierarchy, as of the dates indicated.

					Fair-Value Hierarchy
September 30, 2014	Reported Amount		Estimated Fair Value		Quoted Market Prices in Active Markets (Level 1)		Pricing Methods with Significant Observable Market Inputs (Level 2)		Pricing Methods with Significant Unobservable Market Inputs (Level 3)
(In millions)
Financial Assets:
Cash and due from banks	$	4,146	$	4,146	$	4,146	$	—	$	—
Interest-bearing deposits with banks	86,946		86,946		—		86,946		—
Securities purchased under resale agreements	2,603		2,603		—		2,603		—
Investment securities held to maturity	18,767		18,865		—		18,865		—
Net loans (excluding leases)	17,296		17,287		—		16,830		457
Financial Liabilities:
Deposits:
Noninterest-bearing	$	66,134	$	66,134	$	—	$	66,134	$	—
Interest-bearing - U.S.	24,435		24,435		—		24,435		—
Interest-bearing - non-U.S.	117,399		117,399		—		117,399		—
Securities sold under repurchase agreements	9,385		9,385		—		9,385		—
Federal funds purchased	17		17		—		17		—
Other short-term borrowings	4,307		4,307		—		4,307		—
Long-term debt	9,016		9,352		—		8,474		878

					Fair-Value Hierarchy
December 31, 2013	Reported Amount		Estimated Fair Value		Quoted Market Prices in Active Markets (Level 1)		Pricing Methods with Significant Observable Market Inputs (Level 2)		Pricing Methods with Significant Unobservable Market Inputs (Level 3)
(In millions)
Financial Assets:
Cash and due from banks	$	3,220	$	3,220	$	3,220	$	—	$	—
Interest-bearing deposits with banks	64,257		64,257		—		64,257		—
Securities purchased under resale agreements	6,230		6,230		—		6,230		—
Investment securities held to maturity	17,740		17,560		—		17,560		—
Net loans (excluding leases)	12,363		12,355		—		11,908		447
Financial Liabilities:
Deposits:
Noninterest-bearing	$	65,614	$	65,614	$	—	$	65,614	$	—
Interest-bearing - U.S.	13,392		13,392		—		13,392		—
Interest-bearing - non-U.S.	103,262		103,262		—		103,262		—
Securities sold under repurchase agreements	7,953		7,953		—		7,953		—
Federal funds purchased	19		19		—		19		—
Other short-term borrowings	3,780		3,780		—		3,780		—
Long-term debt	9,699		9,909		—		9,056		853