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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2012
Investment Securities (Tables) [Abstract] |
Schedule of Available for Sale Securities by Type | The following is a summary of investment securities as of December 31:
|  | 2012 |  | 2011
|  |  |  |  | Gross |  | Gross |  | Estimated |  |  |  |  | Gross |  | Gross |  | Estimated
|  |  |  | Unrealized | Unrealized |  | Fair |  |  | Unrealized | Unrealized |  | Fair
Description of Securities (Millions) |  |  | Cost | Gains | Losses |  | Value |  | Cost | Gains | Losses |  | Value
State and municipal obligations |  | $ | 4,280 |  | $ | 199 |  | $ | (5) |  | $ | 4,474 |  | $ | 4,968 |  | $ | 103 |  | $ | (72) |  | $ | 4,999
U.S. Government agency obligations |  |  | 3 |  |  | ― |  |  | ― |  |  | 3 |  |  | 352 |  |  | 2 |  |  | ― |  |  | 354
U.S. Government treasury obligations |  |  | 330 |  |  | 8 |  |  | ― |  |  | 338 |  |  | 330 |  |  | 10 |  |  | ― |  |  | 340
Corporate debt securities(a) |  |  | 73 |  |  | 6 |  |  | ― |  |  | 79 |  |  | 626 |  |  | 9 |  |  | (3) |  |  | 632
Mortgage-backed securities(b) |  |  | 210 |  |  | 14 |  |  | ― |  |  | 224 |  |  | 261 |  |  | 17 |  |  | ― |  |  | 278
Equity securities(c) |  |  | 64 |  |  | 232 |  |  | ― |  |  | 296 |  |  | 95 |  |  | 265 |  |  | ― |  |  | 360
Foreign government bonds and obligations |  |  | 134 |  |  | 15 |  |  | ― |  |  | 149 |  |  | 120 |  |  | 10 |  |  | ― |  |  | 130
Other(d) |  |  | 51 |  |  | ― |  |  | ― |  |  | 51 |  |  | 54 |  |  | ― |  |  | ― |  |  | 54
Total |  | $ | 5,145 |  | $ | 474 |  | $ | (5) |  | $ | 5,614 |  | $ | 6,806 |  | $ | 416 |  | $ | (75) |  | $ | 7,147
The December 31, 2012 and 2011 balance s include, on a cost basis, nil and $600 m illion, 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). Other comprises investments in various mutual funds.
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:
|  |  |  | 2012 |  | 2011
|  | 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 (Millions) |  | Fair Value | Losses | Fair Value | Losses |  | Fair Value | Losses | Fair Value | Losses
State and municipal obligations |  | $ | 100 |  | $ | (1) |  | $ | 73 |  | $ | (4) |  | $ | ― |  | $ | ― |  | $ | 1,094 |  | $ | (72)
Corporate debt securities |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 15 |  |  | (2) |  |  | 2 |  |  | (1)
Total |  | $ | 100 |  | $ | (1) |  | $ | 73 |  | $ | (4) |  | $ | 15 |  | $ | (2) |  | $ | 1,096 |  | $ | (73)
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:
|  | 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 (Dollars in millions) |  | Securities | Fair Value | Losses |  | Securities | Fair Value | Losses |  | Securities | Fair Value | Losses
2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | 46 |  | $ | 100 |  | $ | (1) |  | 4 |  | $ | 73 |  | $ | (4) |  | 50 |  | $ | 173 |  | $ | (5)
Total as of December 31, 2012 |  | 46 |  | $ | 100 |  | $ | (1) |  | 4 |  | $ | 73 |  | $ | (4) |  | 50 |  | $ | 173 |  | $ | (5)
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)
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) |  | 2012 |  | 2011 |  | 2010
Gains |  | $ | 127 |  | $ | 16 |  | $ | 1
Losses |  |  | (1) |  |  | ― |  |  | (6)
Total |  | $ | 126 |  | $ | 16 |  | $ | (5)
Contractual maturities of investment securities | Contractual maturities of investment securities, excluding equity securities and other securities, as of December 31, 2012 we re as follows:
|  |  |  |  |  | Estimated
(Millions) | Cost | Fair Value
Due within 1 year |  | $ | 318 |  | $ | 319
Due after 1 year but within 5 years |  |  | 255 |  |  | 264
Due after 5 years but within 10 years |  |  | 204 |  |  | 220
Due after 10 years |  |  | 4,253 |  |  | 4,464
Total |  | $ | 5,030 |  | $ | 5,267

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