XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.21.2

Investment Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Schedule of available for sale securities by type | The following is a summary of investment securities as of June 30, 2021 and December 31, 2020:
|  | 2021 |  | 2020
Description of Securities (Millions) |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  | $ | 133 |  |  | $ | 6 |  |  | $ | (1) |  |  | $ | 138 |  |  | $ | 172 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 179 |
U.S. Government agency obligations |  | 6 |  |  | — |  |  | — |  |  | 6 |  |  | 7 |  |  | — |  |  | — |  |  | 7 |
U.S. Government treasury obligations |  | 11,397 |  |  | 49 |  |  | — |  |  | 11,446 |  |  | 20,655 |  |  | 76 |  |  | — |  |  | 20,731 |
Mortgage-backed securities (a) |  | 22 |  |  | 2 |  |  | — |  |  | 24 |  |  | 28 |  |  | 2 |  |  | — |  |  | 30 |
Foreign government bonds and obligations |  | 741 |  |  | — |  |  | — |  |  | 741 |  |  | 581 |  |  | — |  |  | — |  |  | 581 |
Other (b) |  | 37 |  |  | — |  |  | — |  |  | 37 |  |  | 22 |  |  | — |  |  | — |  |  | 22 |
Equity securities (c) |  | 52 |  |  | 1 |  |  | (2) |  |  | 51 |  |  | 56 |  |  | 27 |  |  | (2) |  |  | 81 |
Total |  | $ | 12,388 |  |  | $ | 58 |  |  | $ | (3) |  |  | $ | 12,443 |  |  | $ | 21,521 |  |  | $ | 112 |  |  | $ | (2) |  |  | $ | 21,631 |
(a)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. (b)Represents investments in Corporate debt securities and debt securities issued by Community Development Financial Institutions. (c)Equity securities comprise investments in common stock, exchange-traded funds and mutual funds.
Available-for-sale securities, continuous unrealized loss position, fair value | The following table provides information about our available-for-sale debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2021. There were no available-for-sale debt securities with gross unrealized losses as of December 31, 2020.
|  | 2021 |  |
|  | Less than 12 months |  | 12 months or more |  |  |  |
Description of Securities (Millions) |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  |  |  |  |  |  |  |
State and municipal obligations |  | $ | 26 |  |  | $ | (1) |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |
Total |  | $ | 26 |  |  | $ | (1) |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |
Available for sale securities ratio of fair value to amortized cost | The following table summarizes the gross unrealized losses by ratio of fair value to amortized cost as of June 30, 2021. There were no available-for-sale debt securities with gross unrealized losses as of December 31, 2020.
|  | Less than 12 months |  | 12 months or more |  | Total
Ratio of Fair Value to Amortized Cost (Dollars in millions) |  | Number of Securities |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Estimated Fair Value |  | Gross Unrealized Losses
2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | 6 |  |  | $ | 26 |  |  | $ | (1) |  |  | — |  |  | $ | — |  |  | $ | — |  |  | 6 |  |  | $ | 26 |  |  | $ | (1) |
Less than 90% |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total as of June 30, 2021 |  | 6 |  |  | $ | 26 |  |  | $ | (1) |  |  | — |  |  | $ | — |  |  | $ | — |  |  | 6 |  |  | $ | 26 |  |  | $ | (1) |
Contractual maturities of investment securities | Contractual maturities for investment securities with stated maturities as of June 30, 2021 were as follows:
(Millions) |  | Cost |  | Estimated Fair Value
Due within 1 year |  | $ | 11,001 |  |  | $ | 11,014 |
Due after 1 year but within 5 years |  | 1,201 |  |  | 1,235 |
Due after 5 years but within 10 years |  | 35 |  |  | 42 |
Due after 10 years |  | 99 |  |  | 101 |
Total |  | $ | 12,336 |  |  | $ | 12,392 |

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration