Investment Securities (Tables)

12 Months Ended

Dec. 31, 2011

Investment Securities [Abstract]

Schedule Of Marketable Securities

	2011								2010
(In millions)	Amortized Cost		Gross Unrealized				Fair Value		Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses						Gains		Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	2,798	$	39	$	1	$	2,836	$	7,505	$	74	$	2	$	7,577
Mortgage-backed securities		29,511		538		28		30,021		23,398		325		83		23,640
Asset-backed securities:
Student loans (1)		17,187		69		711		16,545		14,975		92		652		14,415
Credit cards		10,448		53		14		10,487		7,578		56		31		7,603
Sub-prime		1,849		2		447		1,404		2,161		3		346		1,818
Other		3,421		169		125		3,465		2,550		175		156		2,569
Total asset-backed securities		32,905		293		1,297		31,901		27,264		326		1,185		26,405
Non-U.S. debt securities:
Mortgage-backed securities		10,890		92		107		10,875		6,258		82		46		6,294
Asset-backed securities		4,318		2		17		4,303		1,790		13		17		1,786
Government securities		1,671		—		—		1,671		2,005		—		—		2,005
Other		2,797		41		13		2,825		1,900		34		2		1,932
Total non-U.S. debt securities		19,676		135		137		19,674		11,953		129		65		12,017
State and political subdivisions		6,924		244		121		7,047		6,706		102		204		6,604
Collateralized mortgage obligations		3,971		62		53		3,980		1,828		49		16		1,861
Other U.S. debt securities		3,471		159		15		3,615		2,438		116		18		2,536
U.S. equity securities		639		1		—		640		1,115		—		—		1,115
Non-U.S. equity securities		118		—		—		118		122		5		1		126
Total	$	100,013	$	1,471	$	1,652	$	99,832	$	82,329	$	1,126	$	1,574	$	81,881
Held to maturity:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	265	$	18			$	283	$	413	$	26			$	439
Asset backed securities		31		—	$	2		29		64		—	$	5		59
Non-U.S. debt securities:
Mortgage-backed securities		4,973		87		224		4,836		6,332		166		160		6,338
Asset-backed securities		436		16		3		449		646		18		3		661
Government securities		3		—		—		3		—		—		—		—
Other		172		—		17		155		208		—		2		206
Total non-U.S. debt securities		5,584		103		244		5,443		7,186		184		165		7,205
State and political subdivisions		107		3		—		110		134		3		—		137
Collateralized mortgage obligations		3,334		220		57		3,497		4,452		328		44		4,736
Total	$	9,321	$	344	$	303	$	9,362	$	12,249	$	541	$	214	$	12,576

⁽¹⁾ Substantially composed of securities guaranteed by the federal government with respect to the payment of principal and interest.

Schedule Of Contractual Maturities Of Debt Securities

(In millions)	Under 1 Year		1 to 5 Years		6 to 10 Years		Over 10 Years
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	1,200	$	38	$	822	$	776
Mortgage-backed securities		5		755		10,871		18,390
Asset-backed securities:
Student loans		155		3,331		8,490		4,569
Credit cards		1,893		5,893		2,701		—
Sub-prime		581		82		17		724
Other		119		1,602		1,198		546
Total asset-backed securities		2,748		10,908		12,406		5,839
Non-U.S. debt securities:
Mortgage-backed securities		474		2,358		987		7,056
Asset-backed securities		230		916		2,511		646
Government securities		1,671		—		—		—
Other		1,636		958		231		—
Total non-U.S. debt securities		4,011		4,232		3,729		7,702
State and political subdivisions		471		2,326		3,328		922
Collateralized mortgage obligations		81		1,163		1,209		1,527
Other U.S. debt securities		289		1,391		1,899		36
Total	$	8,805	$	20,813	$	34,264	$	35,192
Held to maturity:
U.S. Treasury and federal agencies:
Mortgage-backed securities			$	19	$	102	$	144
Asset-backed securities				—		—		31
Non-U.S. debt securities:
Mortgage-backed securities	$	1,304		254		—		3,415
Asset-backed securities		—		204		217		15
Government securities		3		—		—		—
Other		—		155		—		17
Total non-U.S. debt securities		1,307		613		217		3,447
State and political subdivisions		56		49		2		—
Collateralized mortgage obligations		394		1,350		530		1,060
Total	$	1,757	$	2,031	$	851	$	4,682

Critical Estimates Used In Roll Rate Analysis

		Sub-Prime A			Sub-Prime A			Sub-Prime A
	Sub-Prime ARM			Alt-A			Non- Agency Prime
December 31, 2011:
Prepayment rate		1-3	%		2-6	%		5-10	%
Cumulative loss estimates		46-54			26-39			9-19
Loss severity(1)		70-72			59-61			52-53
Peak-to-trough housing price decline(2)		35			35			35

		Sub-Prime ARM			Sub-Prime ARM			Sub-Prime ARM
	Sub-Prime ARM			Alt-A			Non- Agency Prime
December 31, 2010:
Prepayment rate		2-3	%		7	%		7-10	%
Cumulative loss estimates		33			21			13
Loss severity(1)		67			49			49
Peak-to-trough housing price decline(2)		35-40			35-40			35-40

⁽¹⁾ Loss severity rates consider the initial loan-to-value ratio, lien position, geography, expected collateral value and other factors.

⁽²⁾ Management's expectation of the Case-Shiller National Home Price Index.

Other-Than-Temporary Impairment Recorded On Securities

Year Ended December 31, 2011			Year Ended December 31, 2010			Year Ended December 31, 2009 (1)
(In millions)
Sub-prime ARM	$	2		$	26		$	29
Alt-A		5			43			20
Non-agency prime		5			89			60
Total	$	12		$	158		$	109

⁽¹⁾ Represents the period from April 1, 2009 through December 31, 2009, subsequent to the adoption of the revised GAAP related to other-than-temporary impairment.

Schedule Of Gross Pre-tax Unrealized Losses On Investment Securities

	Less than 12 months				12 months or longer				Total
December 31, 2011 (In millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	1,373	$	1					$	1,373	$	1
Mortgage-backed securities		4,714		26	$	370	$	2		5,084		28
Asset-backed securities:
Student loans		2,642		23		10,706		688		13,348		711
Credit cards		2,581		6		1,461		8		4,042		14
Sub-prime		16		1		1,360		446		1,376		447
Other		1,482		19		1,122		106		2,604		125
Total asset-backed		6,721		49		14,649		1,248		21,370		1,297
Non-U.S. debt securities:
Mortgage-backed securities		6,069		55		1,151		52		7,220		107
Asset-backed securities		2,205		14		108		3		2,313		17
Other		1,543		13		—		—		1,543		13
Total non-U.S. debt securities		9,817		82		1,259		55		11,076		137
State and political subdivisions		171		3		1,446		118		1,617		121
Collateralized mortgage obligations		2,024		43		68		10		2,092		53
Other U.S. debt securities		220		2		57		13		277		15
Total	$	25,040	$	206	$	17,849	$	1,446	$	42,889	$	1,652
Held to maturity:
Asset-backed securities					$	29	$	2	$	29	$	2
Non-U.S. debt securities:
Mortgage-backed securities	$	341	$	6		1,382		218		1,723		224
Asset-backed securities		9		1		70		2		79		3
Other		—		—		138		17		138		17
Total non U.S. debt securities		350		7		1,590		237		1,840		244
Collateralized mortgage obligations		649		32		231		25		880		57
Total	$	999	$	39	$	1,850	$	264	$	2,849	$	303

	Less than 12 months				12 months or longer				Total
December 31, 2010 (In millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations					$	153	$	2	$	153	$	2
Mortgage-backed securities	$	6,639	$	81		431		2		7,070		83
Asset-backed securities:
Student loans		1,980		25		8,457		627		10,437		652
Credit cards		1,268		5		2,396		26		3,664		31
Sub-prime		—		—		1,769		346		1,769		346
Other		269		3		1,122		153		1,391		156
Total asset-backed securities		3,517		33		13,744		1,152		17,261		1,185
Non-U.S. debt securities:
Mortgage-backed securities		2,621		22		370		24		2,991		46
Asset-backed securities		—		—		54		17		54		17
Other		348		2		—		—		348		2
Total non-U.S. debt securities		2,969		24		424		41		3,393		65
State and political subdivisions		1,097		19		1,967		185		3,064		204
Collateralized mortgage obligations		494		5		109		11		603		16
Other U.S. debt securities		330		7		61		11		391		18
Non-U.S. equity securities		8		1		—		—		8		1
Total	$	15,054	$	170	$	16,889	$	1,404	$	31,943	$	1,574
Held to maturity:
Asset-backed securities					$	53	$	5	$	53	$	5
Non-U.S. debt securities:
Mortgage-backed securities	$	1,445	$	72		862		88		2,307		160
Asset-backed securities		—		—		68		3		68		3
Other		206		2		—		—		206		2
Total non-U.S. debt securities		1,651		74		930		91		2,581		165
Collateralized mortgage obligations		125		2		575		42		700		44
Total	$	1,776	$	76	$	1,558	$	138	$	3,334	$	214

Gains And Losses Related To Investment Securities

(In millions)	2011			2010			2009
Gross realized gains from sales of investment securities	$	152		$	1,330		$	418
Gross realized losses from sales of investment securities		(12	)		(1,385	)		(50	)
Gross losses from other-than-temporary impairment		(123	)		(651	)		(1,155	)
Losses not related to credit(1)		50			420			928
Net impairment losses		(73	)		(231	)		(227	)
Gains (Losses) related to investment securities, net	$	67		$	(286	)	$	141
Impairment associated with expected credit losses	$	(42	)	$	(203	)	$	(151	)
Impairment associated with management's intent to sell the impaired securities prior to their recovery in value		(8	)		(1	)		(54	)
Impairment associated with adverse changes in timing of expected future cash flows		(23	)		(27	)		(22	)
Net impairment losses	$	(73	)	$	(231	)	$	(227	)

⁽¹⁾ Pursuant to revised GAAP adopted on April 1, 2009, these losses were recorded, net of related taxes, a component of other comprehensive income; refer to note 12.

Schedule Of Credit-Related Loss Activity Recognized In Earnings

(In millions)	2011			2010			2009(1)
Beginning balance	$	63		$	175		$	—
Plus expected credit-related losses for which other-than-temporary impairment was not previously recognized		10			88			214
Plus expected credit-related losses for which other-than-temporary impairment was previously recognized		55			142			—
Less losses realized for securities sold		(13	)		(342	)		(17	)
Less losses realized for securities intended or required to be sold		(2	)		—			(22	)
Ending balance	$	113		$	63		$	175

⁽¹⁾  Beginning balance was as of April 1, 2009, pursuant to revised GAAP.