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Derivatives and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2013
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 acc ruals, of derivative assets and l iabilities as of September 30, 2013 and December 31, 2012:
|  |  | Other Assets |  | Other Liabilities
|  |  | Fair Value |  | Fair Value
(Millions) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |
| Fair value hedges |  | $ | 517 |  | $ | 824 |  | $ | ― |  | $ | ―
Total return contract |  |  |  |  |  |  |  |  |  |  |  |
| Fair value hedge |  |  | ― |  |  | ― |  |  | 6 |  |  | 19
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |  |  |
| Net investment hedges |  |  | 49 |  |  | 43 |  |  | 164 |  |  | 150
Total derivatives designated as hedging instruments |  | $ | 566 |  | $ | 867 |  | $ | 170 |  | $ | 169
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts |  | $ | ― |  | $ | ― |  | $ | ― |  | $ | ―
| Foreign exchange contracts, including certain embedded derivatives(a) |  |  | 96 |  |  | 75 |  |  | 105 |  |  | 158
| Equity-linked embedded derivative(b) |  |  | ― |  |  | ― |  |  | ― |  |  | 2
Total derivatives not designated as hedging instruments |  |  | 96 |  |  | 75 |  |  | 105 |  |  | 160
Total derivatives, gross |  | $ | 662 |  | $ | 942 |  | $ | 275 |  | $ | 329
Cash collateral netting(c) |  |  | (380) |  |  | (326) |  |  | (14) |  |  | (21)
Derivative asset and derivative liability netting(d) |  |  | (27) |  |  | (23) |  |  | (27) |  |  | (23)
Total derivatives, net(e) |  | $ | 255 |  | $ | 593 |  | $ | 234 |  | $ | 285
Includes foreign currency derivatives embedded in certain operating agreements. Represents an equity-linked derivative embedded in one of the Company's investment securities. Represents the offsetting of derivative instruments and the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) arising from derivative instrument(s) executed with the same counterparty under an enforceable master netting arrangement. Additionally, the Company received noncash collateral in the form of security interest in U.S. Treasury securities with a fair value of nil and $335 million as of September 30, 2013 and December 31, 2012, respectively, none of which was sold or repledged. Such noncash collateral effectively further reduces the Company's risk exposure to $255 million and $258 million as of September 30, 2013 and December 31, 2012, respectively, but does not reduce the net exposure on the Company's Consolidated Balance Sheets. Additionally, the Company posted $33 million and nil as of September 30, 2013 and December 31, 2012, respectively, as initial margin on its centrally cleared interest rate swaps not netted against the derivative balances. Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement. The Company has no individually significant derivative counterparties and therefore, no significant risk exposure to any single derivative counterparty. The total net derivative assets and derivative liabilities are presented within other assets and other liabilities on the Company's 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 its fixed-rate long-term debt and its investment in ICBC for the three and nine months ended September 30:
For the Three Months Ended September 30: (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Gains (losses) recognized in income
|  | Derivative contract |  | Hedged item |  | Net hedge
|  |  |  | Amount |  |  |  | Amount |  | ineffectiveness
Derivative relationship |  | Income Statement Line Item |  | 2013 |  | 2012 |  | Income Statement Line Item |  | 2013 |  | 2012 |  | 2013 |  | 2012
Interest rate contracts |  | Other, net expenses |  | $ | (11) |  | $ | (28) |  | Other, net expenses |  | $ | 5 |  | $ | (2) |  | $ | (6) |  | $ | (30)
Total return contract |  | Other non-interest revenues |  |  | (21) |  |  | (19) |  | Other non-interest revenues |  |  | 21 |  |  | 19 |  |  | ― |  |  | ―
For the Nine Months Ended September 30: (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Gains (losses) recognized in income
|  | Derivative contract |  | Hedged item |  | Net hedge
|  |  |  | Amount |  |  |  | Amount |  | ineffectiveness
Derivative relationship |  | Income Statement Line Item |  | 2013 |  | 2012 |  | Income Statement Line Item |  | 2013 |  | 2012 |  | 2013 |  | 2012
Interest rate contracts |  | Other, net expenses |  | $ | (305) |  | $ | (64) |  | Other, net expenses |  | $ | 295 |  | $ | 25 |  | $ | (10) |  | $ | (39)
Total return contract |  | Other non-interest revenues |  |  | (10) |  |  | 2 |  | Other non-interest revenues |  |  | 10 |  |  | (2) |  |  | ― |  |  | ―
Derivative instruments gain loss recognized in income | The following table summarizes the impact on pre tax earnings of derivatives not designated as hedges, as reported on the Consolidated Statements of Income for the three and nine months ended September 30:
For the Three Months Ended September 30: (Millions) |  |  |  |  |  |  |  |
|  | Pretax gains (losses)
|  |  |  | Amount
Description |  | Income Statement Line Item |  | 2013 |  | 2012
Interest rate contracts |  | Other, net expenses |  | $ | 1 |  | $ | (1)
Foreign exchange contracts (a) |  | Other, net expenses |  |  | 25 |  |  | (13)
Equity-linked contract |  | Other non-interest revenues |  |  | ― |  |  | ―
Total |  |  |  | $ | 26 |  | $ | (14)
For the Nine Months Ended September 30: (Millions) |  |  |  |  |  |  |  |
|  | Pretax gains (losses)
|  |  |  | Amount
Description |  | Income Statement Line Item |  | 2013 |  | 2012
Interest rate contracts |  | Other, net expenses |  | $ | 1 |  | $ | (2)
Foreign exchange contracts (a) |  | Other, net expenses |  |  | 106 |  |  | 31
Equity-linked contract |  | Other non-interest revenues |  |  | 2 |  |  | 2
Total |  |  |  | $ | 109 |  | $ | 31
Foreign exchange contracts include embedded foreign currency derivatives. Gains (losses) on these embedded derivatives are included in other expenses.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 + Details
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