XML 48 R27.htm IDEA: XBRL DOCUMENT
v3.20.2

Investment Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Investment Securities Disclosure [Abstract] |
Investment Securities Summary | Table 38: Investment Securities Summary
|  | June 30, 2020 (a) |  |  | December 31, 2019
In millions |  | Amortized Cost (b) |  |  | Unrealized |  | Fair Value |  |  |  | Amortized Cost |  |  | Unrealized |  | Fair Value |
Gains |  |  | Losses |  |  |  |  | Gains |  |  | Losses |  |
Securities Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 19,255 |  |  | $ | 933 |  |  |  |  | $ | 20,188 |  |  |  | $ | 16,150 |  |  | $ | 382 |  |  | $ | (16 | ) |  | $ | 16,516 |
Residential mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  | 55,630 |  |  | 1,860 |  |  | $ | (10 | ) |  | 57,480 |  |  |  | 35,847 |  |  | 517 |  |  | (43 | ) |  | 36,321 |
Non-agency |  | 1,472 |  |  | 225 |  |  | (15 | ) |  | 1,682 |  |  |  | 1,515 |  |  | 302 |  |  | (3 | ) |  | 1,814 |
Commercial mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  | 3,002 |  |  | 141 |  |  | (3 | ) |  | 3,140 |  |  |  | 3,094 |  |  | 42 |  |  | (18 | ) |  | 3,118 |
Non-agency |  | 4,134 |  |  | 57 |  |  | (152 | ) |  | 4,039 |  |  |  | 3,352 |  |  | 29 |  |  | (9 | ) |  | 3,372 |
Asset-backed |  | 5,312 |  |  | 96 |  |  | (40 | ) |  | 5,368 |  |  |  | 5,044 |  |  | 78 |  |  | (8 | ) |  | 5,114 |
Other |  | 4,856 |  |  | 301 |  |  | (2 | ) |  | 5,155 |  |  |  | 2,788 |  |  | 121 |  |  | (1 | ) |  | 2,908 |
Total securities available for sale (b) |  | $ | 93,661 |  |  | $ | 3,613 |  |  | $ | (222 | ) |  | $ | 97,052 |  |  |  | $ | 67,790 |  |  | $ | 1,471 |  |  | $ | (98 | ) |  | $ | 69,163 |
Securities Held to Maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 785 |  |  | $ | 146 |  |  |  |  | $ | 931 |  |  |  | $ | 776 |  |  | $ | 56 |  |  |  |  | $ | 832 |
Residential mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  |  |  |  |  |  |  |  |  |  | 14,419 |  |  | 270 |  |  | $ | (26 | ) |  | 14,663 |
Non-agency |  |  |  |  |  |  |  |  |  |  |  | 133 |  |  | 7 |  |  |  |  | 140 |
Commercial mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  |  |  |  |  |  |  |  |  |  | 59 |  |  | 1 |  |  |  |  | 60 |
Non-agency |  |  |  |  |  |  |  |  |  |  |  | 430 |  |  | 4 |  |  |  |  | 434 |
Asset-backed |  |  |  |  |  |  |  |  |  |  | 52 |  |  |  |  |  |  |  | 52 |
Other |  | 656 |  |  | 42 |  |  | $ | (14 | ) |  | 684 |  |  |  | 1,792 |  |  | 85 |  |  | (14 | ) |  | 1,863 |
Total securities held to maturity (b) (c) |  | $ | 1,441 |  |  | $ | 188 |  |  | $ | (14 | ) |  | $ | 1,615 |  |  |  | $ | 17,661 |  |  | $ | 423 |  |  | $ | (40 | ) |  | $ | 18,044 |
(a) The accrued interest associated with our available for sale and held to maturity portfolios totaled $270 million and $5 million at June 30, 2020, respectively. These amounts are included in Other assets on the Consolidated Balance Sheet. (b) Amortized cost is presented net of allowance of $30 million for securities available for sale and $2 million for securities held to maturity at June 30, 2020 in accordance with the adoption of the CECL accounting standard. See the Recently Adopted Accounting Standards portion of Note 1 Accounting Policies for additional detail on the adoption of this ASU. (c) Credit ratings represent a primary credit quality indicator used to monitor and manage credit risk. As of June 30, 2020, 84% of our securities held to maturity were rated AAA/AA.
Gross Unrealized Loss and Fair Value of Securities Available for Sale Without an Allowance for Credit Losses | Table 39: Gross Unrealized Loss and Fair Value of Securities Available for Sale Without an Allowance for Credit Losses
|  | Unrealized loss position less than 12 months |  | Unrealized loss position 12 months or more |  | Total
In millions |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |
Agency |  | $ | (7 | ) |  | $ | 2,124 |  |  | $ | (3 | ) |  | $ | 249 |  |  | $ | (10 | ) |  | $ | 2,373 |
Non-agency |  | (8 | ) |  | 213 |  |  | (6 | ) |  | 81 |  |  | (14 | ) |  | 294 |
Commercial mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |
Agency |  |  |  |  |  | (3 | ) |  | 136 |  |  | (3 | ) |  | 136 |
Non-agency |  | (61 | ) |  | 2,107 |  |  | (2 | ) |  | 71 |  |  | (63 | ) |  | 2,178 |
Asset-backed |  | (18 | ) |  | 969 |  |  | (22 | ) |  | 616 |  |  | (40 | ) |  | 1,585 |
Other |  | (1 | ) |  | 100 |  |  | (1 | ) |  | 35 |  |  | (2 | ) |  | 135 |
Total securities available for sale |  | $ | (95 | ) |  | $ | 5,513 |  |  | $ | (37 | ) |  | $ | 1,188 |  |  | $ | (132 | ) |  | $ | 6,701 |
Gross Unrealized Loss and Fair Value of Debt Securities | Table 40: Gross Unrealized Loss and Fair Value of Debt Securities
|  | Unrealized loss position less than 12 months |  | Unrealized loss position 12 months or more |  | Total |
In millions |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Securities Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | (14 | ) |  | $ | 2,451 |  |  | $ | (2 | ) |  | $ | 607 |  |  | $ | (16 | ) |  | $ | 3,058 |  |
Residential mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  | (6 | ) |  | 2,832 |  |  | (37 | ) |  | 4,659 |  |  | (43 | ) |  | 7,491 |  |
Non-agency |  |  |  |  |  | (3 | ) |  | 102 |  |  | (3 | ) |  | 102 |  |
Commercial mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  | (6 | ) |  | 852 |  |  | (12 | ) |  | 953 |  |  | (18 | ) |  | 1,805 |  |
Non-agency |  | (4 | ) |  | 1,106 |  |  | (5 | ) |  | 230 |  |  | (9 | ) |  | 1,336 |  |
Asset-backed |  | (3 | ) |  | 660 |  |  | (5 | ) |  | 561 |  |  | (8 | ) |  | 1,221 |  |
Other |  |  |  |  |  | (1 | ) |  | 403 |  |  | (1 | ) |  | 403 |  |
Total securities available for sale |  | $ | (33 | ) |  | $ | 7,901 |  |  | $ | (65 | ) |  | $ | 7,515 |  |  | $ | (98 | ) |  | $ | 15,416 |  |
Securities Held to Maturity |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed - Agency |  |  |  |  |  | $ | (26 | ) |  | $ | 2,960 |  |  | $ | (26 | ) |  | $ | 2,960 |  |
Other |  | $ | (1 | ) |  | $ | 22 |  |  | (13 | ) |  | 105 |  |  | (14 | ) |  | 127 |  |
Total securities held to maturity |  | $ | (1 | ) |  | $ | 22 |  |  | $ | (39 | ) |  | $ | 3,065 |  |  | $ | (40 | ) |  | $ | 3,087 |  |
Gains (losses) on Sales Of Securities Available for Sale | Table 41: Gains (Losses) on Sales of Securities Available for Sale
Six months ended June 30 In millions | Gross Gains |  | Gross Losses |  | Net Gains (Losses) |  | Tax Expense (Benefit) |  |
2020 | $ | 224 |  | $ | (2 | ) | $ | 222 |  | $ | 47 |  |
2019 | $ | 47 |  | $ | (15 | ) | $ | 32 |  | $ | 7 |  |
Contractual Maturity of Securities | Table 42: Contractual Maturity of Debt Securities
June 30, 2020 Dollars in millions |  | 1 Year or Less |  |  | After 1 Year through 5 Years |  |  | After 5 Years through 10 Years |  |  | After 10 Years |  |  | Total |  |
Securities Available for Sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 5,647 |  |  | $ | 9,172 |  |  | $ | 3,516 |  |  | $ | 920 |  |  | $ | 19,255 |  |
Residential mortgage-backed |  |  |  |  |  |  |  |  |  |  |
Agency |  | 2 |  |  | 112 |  |  | 1,220 |  |  | 54,296 |  |  | 55,630 |  |
Non-agency |  |  |  |  |  |  |  | 1,472 |  |  | 1,472 |  |
Commercial mortgage-backed |  |  |  |  |  |  |  |  |  |  |
Agency |  |  |  | 459 |  |  | 265 |  |  | 2,278 |  |  | 3,002 |  |
Non-agency |  |  |  | 75 |  |  | 301 |  |  | 3,758 |  |  | 4,134 |  |
Asset-backed |  | 66 |  |  | 2,603 |  |  | 1,039 |  |  | 1,604 |  |  | 5,312 |  |
Other |  | 607 |  |  | 1,794 |  |  | 1,108 |  |  | 1,347 |  |  | 4,856 |  |
Total securities available for sale at amortized cost |  | $ | 6,322 |  |  | $ | 14,215 |  |  | $ | 7,449 |  |  | $ | 65,675 |  |  | $ | 93,661 |  |
Fair value |  | $ | 6,341 |  |  | $ | 14,801 |  |  | $ | 7,823 |  |  | $ | 68,087 |  |  | $ | 97,052 |  |
Weighted-average yield, GAAP basis (a) |  | 0.75 | % |  | 2.08 | % |  | 2.12 | % |  | 2.97 | % |  | 2.62 | % |
Securities Held to Maturity |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  |  |  | $ | 198 |  |  | $ | 306 |  |  | $ | 281 |  |  | $ | 785 |  |
Other |  | $ | 18 |  |  | 403 |  |  | 120 |  |  | 115 |  |  | 656 |  |
Total securities held to maturity at amortized cost |  | $ | 18 |  |  | $ | 601 |  |  | $ | 426 |  |  | $ | 396 |  |  | $ | 1,441 |  |
Fair value |  | $ | 18 |  |  | $ | 638 |  |  | $ | 515 |  |  | $ | 444 |  |  | $ | 1,615 |  |
Weighted-average yield, GAAP basis (a) |  | 2.94 | % |  | 3.23 | % |  | 3.93 | % |  | 2.66 | % |  | 3.30 | % |
(a) Weighted-average yields are based on amortized cost with effective yields weighted for the contractual maturity of each security.
Fair Value of Securities Pledged and Accepted as Collateral | Table 43: Fair Value of Securities Pledged and Accepted as Collateral
In millions | June 30 2020 |  | December 31 2019 |
Pledged to others | $ | 23,528 |  | $ | 14,609 |
Accepted from others: |  |
Permitted by contract or custom to sell or repledge (a) | $ | 1,944 |  | $ | 2,349 |
Permitted amount repledged to others | $ | 1,944 |  | $ | 360 |
(a) | Balances at December 31, 2019 include $2.0 billion in fair value of securities accepted from others to collateralize short-term investments in resale agreements that were not repledged.

X
- Definition Debt Securities, Available-for-sale And Held-to-maturity, Unrealized Loss Position, Fair Value [Table Text Block] + References No definition available. + Details
Name: | pnc_DebtSecuritiesAvailableforsaleAndHeldtomaturityUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | pnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the fair value of securities pledged and accepted as collateral for borrowings. + References No definition available. + Details
Name: | pnc_FairValueOfSecuritiesPledgedAndAcceptedAsCollateralTableTextBlock
Namespace Prefix: | pnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition This item represents debt securities, net of adjustments made for accretion, amortization, other-than-temporary impairments, and hedging, if any, categorized by contractual maturity at the balance sheet date and which are not categorized as trading securities. + References No definition available. + Details
Name: | pnc_InvestmentSecuritiesDebtMaturitiesTableTextBlock
Namespace Prefix: | pnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Investment Securities Disclosure + References No definition available. + Details
Name: | pnc_InvestmentSecuritiesDisclosureAbstract
Namespace Prefix: | pnc_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summarization of information required and determined to be disclosed concerning Investment Securities which consist of all investments in certain debt and equity securities not classified as trading securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. + References No definition available. + Details
Name: | pnc_InvestmentSecuritiesTableTextBlock
Namespace Prefix: | pnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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=118942371&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=118939692&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=118955579&loc=SL82922888-210455 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration