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Derivatives and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2011
Derivatives and Hedging Activities (Tables) [Abstract] |
Schedule of derivative instruments in statement of financial position, fair value | The following table summarizes the total gross fair value, excluding interest acc ruals, of derivative assets and l iabilities as of June 30, 2011 and December 31, 2010:
|  |  | Other Assets |  | Other Liabilities
|  |  | Fair Value |  | Fair Value
(Millions) |  | 2011 |  | 2010 |  | 2011 |  | 2010
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |
| Fair value hedges |  | $ | 864 |  | $ | 909 |  | $ | 9 |  | $ | 38
| Cash flow hedges |  |  | ― |  |  | 2 |  |  | ― |  |  | 13
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |  |  |
| Net investment hedges |  |  | 141 |  |  | 66 |  |  | 100 |  |  | 272
Total derivatives designated as hedging instruments |  | $ | 1,005 |  | $ | 977 |  | $ | 109 |  | $ | 323
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts |  | $ | 2 |  | $ | 3 |  | $ | 3 |  | $ | 3
| Foreign exchange contracts, including certain embedded derivatives(a) |  |  | 64 |  |  | 109 |  |  | 90 |  |  | 91
| Equity-linked embedded derivative(b) |  |  | ― |  |  | ― |  |  | 2 |  |  | 2
Total derivatives not designated as hedging instruments |  |  | 66 |  |  | 112 |  |  | 95 |  |  | 96
Total derivatives(c) |  | $ | 1,071 |  | $ | 1,089 |  | $ | 204 |  | $ | 419
(a) Includes foreign currency derivatives embedded in certain operating agreements. (b) Represents an equity-linked derivative embedded in one of the Company's investment securities. (c) GAAP permits the netting of derivative assets and derivative liabilities when a legally enforceable master netting agreement exists between the Company and its derivative counterparty. As of June 30, 2011 and December 31, 2010, $21 million and $18 million, respectively, of derivative assets and liabilities have been offset and presented net on the Consolidated Balance Sheets.
Effect of fair value hedges on results of operations | The following table summarizes the impact on the Consolidated Statements of Income associated with the Company's hedges of fixed-rate long-term debt:
For the Three Months Ended June 30: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions) |  | Gains (losses) recognized in income
|  | Derivative contract |  | Hedged item |  | Net hedge
|  | Location |  | Amount |  | Location |  | Amount |  | ineffectiveness
Derivative relationship |  |  | 2011 |  | 2010 |  |  | 2011 |  | 2010 |  | 2011 |  | 2010
Interest rate contracts |  | Other, net expenses |  | $ | 142 |  | $ | 289 |  | Other, net expenses |  | $ | (138) |  | $ | (252) |  | $ | 4 |  | $ | 37
For the Six Months Ended June 30: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions) |  | Gains (losses) recognized in income
|  | Derivative contract |  | Hedged item |  | Net hedge
|  | Location |  | Amount |  | Location |  | Amount |  | ineffectiveness
Derivative relationship |  |  | 2011 |  | 2010 |  |  | 2011 |  | 2010 |  | 2011 |  | 2010
Interest rate contracts |  | Other, net expenses |  | $ | (16) |  | $ | 413 |  | Other, net expenses |  | $ | 1 |  | $ | (367) |  | $ | (15) |  | $ | 46
Impact of cash flow hedges and investment hedges on Consolidated Statement of Income | The following table summarizes the impact of cash flow hedges and net investment hedges on the Consolidated Statements of Income:
For the Three Months Ended June 30: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions) |  | Gains (losses) recognized in income
|  |  |  |  | Amount reclassified |  |  |  |  |  |  |  |
|  |  |  | from AOCI into |  |  | Net hedge
|  |  |  | income |  |  | ineffectiveness
|  |  | Location |  | 2011 |  | 2010 |  | Location |  | 2011 |  | 2010
Cash flow hedges:(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts |  | Interest expense |  | $ | (5) |  | $ | (8) |  | Other, net expenses |  | $ | ― |  | $ | ―
Net investment hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Foreign exchange contracts |  | Other, net expenses |  | $ | ― |  | $ | ― |  | Other, net expenses |  | $ | ― |  | $ | ―
For the Six Months Ended June 30: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions) |  | Gains (losses) recognized in income
|  |  |  |  | Amount reclassified |  |  |  |  |  |  |  |
|  |  | from AOCI into |  |  | Net hedge
|  |  | income |  |  | ineffectiveness
|  |  | Location |  | 2011 |  | 2010 |  | Location |  | 2011 |  | 2010
Cash flow hedges:(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts |  | Interest expense |  | $ | (13) |  | $ | (21) |  | Other, net expenses |  | $ | ― |  | $ | ―
Net investment hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Foreign exchange contracts |  | Other, net expenses |  | $ | ― |  | $ | ― |  | Other, net expenses |  | $ | (3) |  | $ | ―
(a) During the three and six months ended June 30, 2011 and 2010, there were no forecasted transactions that were considered no longer probable to occur.
Derivative instruments gain loss recognized in income | The following table summarizes the impact of derivatives not designated as hedges on the Consolidated Statements of Income:
For the Three Months Ended June 30: |  |  |  |  |  |  |  |  |
(Millions) |  | Gains (losses) recognized in income
|  | Location |  |  | Amount
|  |  |  | 2011 |  | 2010
Interest rate contracts |  | Other, net expenses |  |  | $ | ― |  | $ | (13)
Foreign exchange contracts(a) |  | Interest and dividends on investment securities |  |  |  | 3 |  |  | ―
|  | Interest expense on short-term borrowings |  |  |  | 2 |  |  | 2
|  | Interest expense on long-term debt and other |  |  |  | 31 |  |  | 23
|  | Other, net expenses |  |  |  | (68) |  |  | (22)
Equity-linked contract |  | Other non-interest revenues |  |  |  | (1) |  |  | (1)
Total |  |  |  |  | $ | (33) |  | $ | (11)
For the Six Months Ended June 30: |  |  |  |  |  |  |  |  |
(Millions) |  | Gains (losses) recognized in income
|  | Location |  |  | Amount
|  |  |  | 2011 |  | 2010
Interest rate contracts |  | Other, net expenses |  |  | $ | 2 |  | $ | (14)
Foreign exchange contracts(a) |  | Interest and dividends on investment securities |  |  |  | 5 |  |  | 1
|  | Interest expense on short-term borrowings |  |  |  | 3 |  |  | 4
|  | Interest expense on long-term debt and other |  |  |  | 61 |  |  | 42
|  | Other, net expenses |  |  |  | (49) |  |  | (54)
Equity-linked contract |  | Other non-interest revenues |  |  |  | ― |  |  | (1)
Total |  |  |  |  | $ | 22 |  | $ | (22)
(a) For the three and six months ended June 30, 2011 and 2010, foreign exchange contracts include embedded foreign currency derivatives. Gains (losses) on these embedded derivatives are included in other, net expenses.

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- Definition This element can be used as an alternative for disclosing the entity's tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position as a single block of text. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a + Details
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