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Asset Securitizations | 9 Months Ended
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Sep. 30, 2016
Asset Securitizations [Abstract] |
Asset Securitizations | 6. Asset Securitizations The Company periodically securitizes Card Member loans and receivables arising from its card business es, including, prior to the sales discussed in Note 2, Card Member loans and receivables HFS, through the transfer of those assets to securitization trusts. The t rusts then issue debt securities to third-party investors, collaterali zed by the transferred assets. The following table provides information on the restricted cash held by the American Express Credit Account M aster Trust (the Lending Trust) and the American Express Issuance Trust II (the Charge Trust, collectively the Trusts) as of September 30, 2016 and December 31, 2015, included in Other assets on the Consolidated Balance Sheets:
(Millions) |  | 2016 |  | 2015
Lending Trust |  | $ | 611 |  | $ | 153
Charge Trust |  |  | 1 |  |  | 2
Total |  | $ | 612 |  | $ | 155
These amounts relate to collections of Card Member loans and receivables to be used by the Trusts to fund future expenses and obligations, including interest on debt securities, credit losses and upcoming debt maturities. American Express Travel Related Services Company, Inc. (TRS), in its role as servicer of the Trusts, has the power to direct the most significant activity of the Trusts, which is the collection of the underlying Card Member loans and receivables. In addition, TRS directly and indirectly (through its consolidated subsidiaries) holds all of the variable interests in both Trusts, with the exception of the de bt securities issued to third-party investors. As of September 30, 2016, TRS’ direct and indirect ownership of variable interests was $13.3 billion for the Lending Trust and $2.0 billion for the Charge Trust. These variable interests held by TRS provide it with the right to receive benefits and the obligation to absorb losses, which could be significant to both the Lending Tru st and the Charge Trust. Based on these considerations, TRS is the primary beneficiary of both Trusts and therefore consolidates both Trusts. Under the respective t erms of the Lending Trust and the Charge Trust agreements, the occurrence of certain trigge ring events associated with the performance of the assets of each Trust could result in payment of trust expenses, establishment of reserve funds, or, in a worst-case scenario, early amortiza tion of debt securities. During the nine months ended September 30, 2016 and the year ended December 31, 2015, no such triggering events occurred.

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- Definition This disclosure of financial assets transferred to a trust (for example, cardmember receivables and loans) whereby the trust then issues securities to third-party investors and these securities are collateralized by the transferred assets. The nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset is also disclosed. The required disclosures may be provided in more than one note to the financial statements, as long as the GAAP disclosure objectives are met. + References No definition available. + Details
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