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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2013

Investment Securities (Tables) [Abstract]

Schedule of Available for Sale Securities by Type

The following is a summary of investment securities as of December 31:

		2013												2012
					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		$	4,060		$	54		$	(79)		$	4,035		$	4,280		$	199		$	(5)		$	4,474
U.S. Government agency obligations			3			―			―			3			3			―			―			3
U.S. Government treasury obligations			318			3			(1)			320			330			8			―			338
Corporate debt securities			43			3			―			46			73			6			―			79
Mortgage-backed securities (a)			160			5			(1)			164			210			14			―			224
Equity securities (b)			29			95			―			124			64			232			―			296
Foreign government bonds and obligations			272			5			(1)			276			134			15			―			149
Other (c)			50			―			(2)			48			51			―			―			51
Total		$	4,935		$	165		$	(84)		$	5,016		$	5,145		$	474		$	(5)		$	5,614

• Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
• Primarily represents the Company's investment in 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:

				2013												2012
				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				$	1,320		$	(63)		$	106		$	(16)		$	100		$	(1)		$	73		$	(4)
Foreign government bonds and obligations					208			(1)			―			―			―			―			―			―
U.S. Government treasury obligations					166			(1)			―			―			―			―			―			―
Mortgage-backed securities					35			(1)			―			―			―			―			―			―
Other					30			(1)			17			(1)			―			―			―			―
Total				$	1,759		$	(67)		$	123		$	(17)		$	100		$	(1)		$	73		$	(4)

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
2013:
90%–100%			228		$	1,665		$	(53)		6		$	24		$	(2)		234		$	1,689		$	(55)
Less than 90%			13			94			(14)		5			99			(15)		18			193			(29)
Total as of December 31, 2013			241		$	1,759		$	(67)		11		$	123		$	(17)		252		$	1,882		$	(84)
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)

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)			2013			2012			2011
Gains			$	136		$	127		$	16
Losses				―			(1)			―
Total			$	136		$	126		$	16

Contractual maturities of investment securities

Contractual maturities of investment securities, excluding equity securities and other securities, as of December 31, 2013 were as follows:

						Estimated
(Millions)			Cost			Fair Value
Due within 1 year			$	505		$	505
Due after 1 year but within 5 years				489			496
Due after 5 years but within 10 years				215			224
Due after 10 years				3,647			3,619
Total			$	4,856		$	4,844

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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.

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