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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2011
Investment Securities (Tables) [Abstract] |
Schedule of Available for Sale Securities by Type | The following is a summary of investment securities as of December 31:
|  | 2011 |  | 2010
|  |  |  |  | Gross |  | Gross |  | Estimated |  |  |  |  | Gross |  | Gross |  | Estimated
|  |  |  | Unrealized | Unrealized |  | Fair |  |  | Unrealized | Unrealized |  | Fair
(Millions) |  |  | Cost | Gains | Losses |  | Value |  | Cost | Gains | Losses |  | Value
State and municipal obligations |  | $ | 4,968 |  | $ | 103 |  | $ | (72) |  | $ | 4,999 |  | $ | 6,140 |  | $ | 24 |  | $ | (367) |  | $ | 5,797
U.S. Government agency obligations |  |  | 352 |  |  | 2 |  |  | ― |  |  | 354 |  |  | 3,402 |  |  | 12 |  |  | (1) |  |  | 3,413
U.S. Government treasury obligations |  |  | 330 |  |  | 10 |  |  | ― |  |  | 340 |  |  | 2,450 |  |  | 6 |  |  | ― |  |  | 2,456
Corporate debt securities(a) |  |  | 626 |  |  | 9 |  |  | (3) |  |  | 632 |  |  | 1,431 |  |  | 15 |  |  | (1) |  |  | 1,445
Mortgage-backed securities(b) |  |  | 261 |  |  | 17 |  |  | ― |  |  | 278 |  |  | 272 |  |  | 6 |  |  | (2) |  |  | 276
Equity securities(c) |  |  | 95 |  |  | 265 |  |  | ― |  |  | 360 |  |  | 98 |  |  | 377 |  |  | ― |  |  | 475
Foreign government bonds and obligations |  |  | 120 |  |  | 10 |  |  | ― |  |  | 130 |  |  | 95 |  |  | 4 |  |  | ― |  |  | 99
Other |  |  | 54 |  |  | ― |  |  | ― |  |  | 54 |  |  | 49 |  |  | ― |  |  | ― |  |  | 49
Total |  | $ | 6,806 |  | $ | 416 |  | $ | (75) |  | $ | 7,147 |  | $ | 13,937 |  | $ | 444 |  | $ | (371) |  | $ | 14,010
The December 31, 2011 and 2010 balance s include, on a cost basis, $0.6 billion and $1.3 billion, respectively, of corporate debt obligations issued under the Temporary Liquidity Guarantee Program (TLGP) that are guaranteed by the Federal Deposit Insurance Corporation (FDIC). Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Primarily r epresents the Company's investment in the Industrial and Commercial Bank of China (ICBC).
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following table provides information about the Company's investment securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of December 31:
|  |  |  | 2011 |  | 2010
(Millions) |  | Less than 12 months |  | 12 months or more |  | Less than 12 months |  | 12 months or more
|  |  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross
|  |  |  | Estimated | Unrealized | Estimated | Unrealized |  | Estimated | Unrealized | Estimated | Unrealized
Description of Securities |  | Fair Value | Losses | Fair Value | Losses |  | Fair Value | Losses | Fair Value | Losses
State and municipal obligations |  | $ | ― |  | $ | ― |  | $ | 1,094 |  | $ | (72) |  | $ | 2,535 |  | $ | (156) |  | $ | 1,076 |  | $ | (211)
U.S. Government agency obligations |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 299 |  |  | (1) |  |  | ― |  |  | ―
Corporate debt securities |  |  | 15 |  |  | (2) |  |  | 2 |  |  | (1) |  |  | ― |  |  | ― |  |  | 3 |  |  | (1)
Mortgage-backed securities |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 71 |  |  | (2) |  |  | ― |  |  | ―
Total |  | $ | 15 |  | $ | (2) |  | $ | 1,096 |  | $ | (73) |  | $ | 2,905 |  | $ | (159) |  | $ | 1,079 |  | $ | (212)
Available for Sale Securities Ratio of Fair Value to Amortized Cost | The following table summarizes the gross unrealized losses due to temporary impairments by ratio of fair value to amortized cost as of December 31:
(Dollars in millions) |  | Less than 12 months |  | 12 months or more |  | Total
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross
Ratio of Fair Value to |  | Number of | Estimated | Unrealized |  | Number of | Estimated | Unrealized |  | Number of | Estimated | Unrealized
Amortized Cost |  | Securities | Fair Value | Losses |  | Securities | Fair Value | Losses |  | Securities | Fair Value | Losses
2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | ― |  | $ | ― |  | $ | ― |  | 114 |  | $ | 884 |  | $ | (35) |  | 114 |  | $ | 884 |  | $ | (35)
Less than 90% |  | 1 |  |  | 15 |  |  | (2) |  | 22 |  |  | 212 |  |  | (38) |  | 23 |  |  | 227 |  |  | (40)
Total as of December 31, 2011 |  | 1 |  | $ | 15 |  | $ | (2) |  | 136 |  | $ | 1,096 |  | $ | (73) |  | 137 |  | $ | 1,111 |  | $ | (75)
2010: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | 457 |  | $ | 2,554 |  | $ | (113) |  | 31 |  | $ | 79 |  | $ | (7) |  | 488 |  | $ | 2,633 |  | $ | (120)
Less than 90% |  | 48 |  |  | 351 |  |  | (46) |  | 115 |  |  | 1,000 |  |  | (205) |  | 163 |  |  | 1,351 |  |  | (251)
Total as of December 31, 2010 |  | 505 |  | $ | 2,905 |  | $ | (159) |  | 146 |  | $ | 1,079 |  | $ | (212) |  | 651 |  | $ | 3,984 |  | $ | (371)
Gross realized gains and losses on the sales of investment securities | Gross realized gains and losses on the sales of investment securities, included in other non-interest revenues, were as follows:
(Millions) |  | 2011 |  | 2010 |  | 2009
Gains |  | $ | 16 |  | $ | 1 |  | $ | 226
Losses |  |  | ― |  |  | (6) |  |  | (1)
Total |  | $ | 16 |  | $ | (5) |  | $ | 225
Contractual maturities of investment securities | Contractual maturities of investment securities, excluding equity securities and other securities, as of December 31, 2011 we re as follows:
|  |  |  |  |  | Estimated
(Millions) | Cost | Fair Value
Due within 1 year |  | $ | 973 |  | $ | 983
Due after 1 year but within 5 years |  |  | 421 |  |  | 429
Due after 5 years but within 10 years |  |  | 217 |  |  | 227
Due after 10 years |  |  | 5,046 |  |  | 5,094
Total |  | $ | 6,657 |  | $ | 6,733

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- Definition Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (c)-(e) -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 12 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.M) -URI http://asc.fasb.org/extlink&oid=6784337&loc=d3e87990-122713 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 21 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 7, 13, 16, 22 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6379932&loc=d3e22054-111558 + Details
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