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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2011
Derivatives and Hedging Activities (Tables) [Abstract] |
Schedule of derivative instruments in statement of financial position, fair value | The following t able summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of December 31:
|  |  | Other Assets |  | Other Liabilities
|  |  | Fair Value |  | Fair Value
(Millions) |  | 2011 |  | 2010 |  | 2011 |  | 2010
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |
| Fair value hedges |  | $ | 999 |  | $ | 909 |  | $ | ― |  | $ | 38
| Cash flow hedges |  |  | ― |  |  | 2 |  |  | 1 |  |  | 13
Total return contract |  |  |  |  |  |  |  |  |  |  |  |
| Fair value hedge |  |  | 13 |  |  | ― |  |  | ― |  |  | ―
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |  |  |
| Net investment hedges |  |  | 344 |  |  | 66 |  |  | 44 |  |  | 272
Total derivatives designated as hedging instruments |  | $ | 1,356 |  | $ | 977 |  | $ | 45 |  | $ | 323
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts |  | $ | 1 |  | $ | 3 |  | $ | ― |  | $ | 3
| Foreign exchange contracts, including certain embedded derivatives(a) |  |  | 159 |  |  | 109 |  |  | 60 |  |  | 91
| Equity-linked embedded derivative(b) |  |  | ― |  |  | ― |  |  | 3 |  |  | 2
Total derivatives not designated as hedging instruments |  |  | 160 |  |  | 112 |  |  | 63 |  |  | 96
Total derivatives, gross |  | $ | 1,516 |  | $ | 1,089 |  | $ | 108 |  | $ | 419
Cash collateral netting(c) |  |  | (587) |  |  | ― |  |  | ― |  |  | ―
Derivative asset and derivative liability netting(c) |  |  | (14) |  |  | (18) |  |  | (14) |  |  | (18)
Total derivatives, net |  | $ | 915 |  | $ | 1,071 |  | $ | 94 |  | $ | 401
Includes foreign currency derivatives embedded in certain operating agreements. Represents an equity-linked derivative embedded in one of the Company's investment securities. As permitted under GAAP, balances represent the netting of cash collateral received and posted under credit support agreements, and the netting of derivative assets and derivative liabilities under master netting agreements.
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 and its investment in ICBC for the years ended December 31:
|  | Gains (losses) recognized in income
(Millions) |  | Derivative contract |  | Hedged item |  | Net hedge
|  |  |  | Amount |  |  |  | Amount |  | ineffectiveness (a)
Derivative relationship |  | Location |  | 2011 |  | 2010 |  | 2009 |  | Location |  | 2011 |  | 2010 |  |  | 2009 |  | 2011 |  | 2010 |  | 2009
Interest rate contracts |  | Other, net expenses |  | $ | 128 |  | $ | 246 |  | $ | (446) |  | Other, net expenses |  | $ | (102) |  | $ | (233) |  | $ | 437 |  | $ | 26 |  | $ | 13 |  | $ | (9)
Total return contract |  | Other non-interest revenues |  | $ | 100 |  | $ | ― |  | $ | ― |  | Other non-interest revenues |  | $ | (112) |  | $ | ― |  | $ | ― |  | $ | (12) |  | $ | ― |  | $ | ―
(a) Net hedge ineffectiveness on the TRC is reclassified from other non-interest revenues to other, net expenses.
Impact of cash flow hedges and investment hedges on results of operations | The following table summarizes the impact of cash flow hedges and net investment hedg es on the Consolidated Statements of Income for the years ended December 31:
?? |  | Gains (losses) recognized in income
| ?? |  |  |  | Amount reclassified |  |  |  |  |  |  |  |  |  |  |
|  |  |  | from AOCI into |  |  | Net hedge
|  |  |  | income |  |  | ineffectiveness
(Millions)?? |  | Location |  | 2011 |  | 2010 |  | 2009 |  | Location |  | 2011 |  | 2010 |  | 2009
Cash flow hedges:(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts?? |  | Interest expense |  | $ | (13) |  | $ | (36) |  | $ | (115) |  | Other, net expenses |  | $ | ― |  | $ | ― |  | $ | ―
Net investment hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Foreign exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| contracts?? |  | Other, net expenses |  | $ | ― |  | $ | 2 |  | $ | ― |  | Other, net expenses |  | $ | (3) |  | $ | (3) |  | $ | (1)
(a) During the years ended December 31, 2011, 2010 and 2009, 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 years ended December 31:
?? |  | Gains (losses) recognized in income
?? |  |  |  | Amount
(Millions)?? |  | Location |  | 2011 |  | 2010 |  | 2009
Interest rate contracts?? |  | Other, net expenses |  | $ | 3 |  | $ | (8) |  | $ | 17
Foreign exchange contracts(a) |  | Other non-interest revenues |  |  | ― |  |  | ― |  |  | (1)
|  | Interest and dividends on investment securities |  |  | 9 |  |  | 4 |  |  | 4
?? |  | Interest expense on short-term borrowings |  |  | 3 |  |  | 7 |  |  | 5
?? |  | Interest expense on long-term debt and other |  |  | 130 |  |  | 93 |  |  | 35
?? |  | Other, net expenses |  |  | 51 |  |  | (3) |  |  | (8)
Equity-linked contract |  | Other non-interest revenues |  |  | ― |  |  | (6) |  |  | 1
Total?? |  |  |  | $ | 196 |  | $ | 87 |  | $ | 53
For the years ended December 31, 2011, 2010 and 2009, foreign exchange contracts include embedded foreign currency derivatives. Gains (losses) on these embedded derivatives are included in other, net expenses.

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