XML 143 R52.htm IDEA: XBRL DOCUMENT v3.22.4
Financial Derivatives (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Total Gross Derivatives
The following table presents the notional and gross fair value amounts of all derivative assets and liabilities held by us:

Table 93: Total Gross Derivatives (a)
 December 31, 2022December 31, 2021
In millionsNotional /Contract AmountAsset Fair
Value (b)		Liability Fair
Value (c)		Notional /Contract AmountAsset Fair
Value (b)		Liability Fair
Value (c)
Derivatives used for hedging
Interest rate contracts (d):
Fair value hedges $24,231 $23,345 
Cash flow hedges 40,310 $1 48,961 $15 $14 
Foreign exchange contracts:
Net investment hedges1,120 $24 1,113 24 
Total derivatives designated for hedging $65,661 $24 $1 $73,419 $15 $38 
Derivatives not used for hedging
Derivatives used for mortgage banking activities (e):
Interest rate contracts:
Swaps $47,908 $7 $1 $35,623 
Futures (f) 5,537 4,592 
Mortgage-backed commitments4,516 85 89 9,917 $55 $31 
Other18,017 90 14 12,225 46 12 
Total interest rate contracts 75,978 182 104 62,357 101 43 
Derivatives used for customer-related activities:
Interest rate contracts:
Swaps 354,150 1,597 5,397 297,711 3,335 1,520 
Futures (f) 32 907 
Mortgage-backed commitments2,799 10 6 4,147 5 6 
Other29,071 334 321 25,718 125 72 
Total interest rate contracts 386,052 1,941 5,724 328,483 3,465 1,598 
Commodity contracts:
Swaps5,792 1,003 1,067 8,840 1,150 1,161 
Other 4,488 205 202 3,128 213 212 
Total commodity contracts10,280 1,208 1,269 11,968 1,363 1,373 
Foreign exchange contracts and other30,512 366 293 27,563 199 179 
Total derivatives for customer-related activities 426,844 3,515 7,286 368,014 5,027 3,150 
Derivatives used for other risk management activities:
Foreign exchange contracts and other 12,785 47 227 11,512 9 339 
Total derivatives not designated for hedging $515,607 $3,744 $7,617 $441,883 $5,137 $3,532 
Total gross derivatives$581,268 $3,768 $7,618 $515,302 $5,152 $3,570 
Less: Impact of legally enforceable master netting agreements 1,523 1,523 928 928 
Less: Cash collateral received/paid  714 1,571  604 1,657 
Total derivatives $1,531 $4,524 $3,620 $985 
(a)Centrally cleared derivatives are settled in cash daily and result in no derivative asset or derivative liability being recognized on our Consolidated Balance Sheet.
(b)Included in Other assets on our Consolidated Balance Sheet.
(c)Included in Other liabilities on our Consolidated Balance Sheet.
(d)Represents primarily swaps.
(e)Includes both residential and commercial mortgage banking activities.
(f)Futures contracts are settled in cash daily and result in no derivative asset or derivative liability being recognized on our Consolidated Balance Sheet.
Schedule of Gains (losses) Recognized on Fair Value and Cash Flow Hedges in Consolidated Income Statement
Further detail regarding gains (losses) related to our fair value and cash flow hedge derivatives is presented in the following table:
Table 94: Gains (Losses) Recognized on Fair Value and Cash Flow Hedges in the Consolidated Income Statement (a) (b)
 Location and Amount of Gains (Losses) Recognized in Income
 Interest Income Interest ExpenseNoninterest Income
In millionsLoansInvestment SecuritiesBorrowed FundsOther
Year ended December 31, 2022
Total amounts on the Consolidated Income Statement$11,795 $2,726 $1,155 $952 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$(136)$1,945 
Derivatives$143 $(1,976)
Amounts related to interest settlements on derivatives$(2)$120 
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
   other comprehensive income		$(259)$(1)
Year ended December 31, 2021
Total amounts on the Consolidated Income Statement$9,007 $1,834 $361 $1,199 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$(5)$937 
Derivatives$9 $(993)
Amounts related to interest settlements on derivatives$(4)$521 
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
   other comprehensive income 		$376 $57 $61 
Year ended December 31, 2020
Total amounts on the Consolidated Income Statement$8,927 $2,041 $718 $608 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$208 $(1,059)
Derivatives$(202)$959 
Amounts related to interest settlements on derivatives$(9)$480 
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
   other comprehensive income 		$375 $40 $6 
(a)For all periods presented, there were no components of derivative gains or losses excluded from the assessment of hedge effectiveness for any of the fair value or cash flow hedge strategies.
(b)All cash flow and fair value hedge derivatives were interest rate contracts for the periods presented.
(c)Includes an insignificant amount of fair value hedge adjustments related to discontinued hedge relationships.
(d)For all periods presented, there were no gains or losses from cash flow hedge derivatives reclassified to income because it became probable that the original forecasted transaction would not occur.
Schedule of Hedged Items - Fair Value Hedges
Detail regarding the impact of fair value hedge accounting on the carrying value of the hedged items is presented in the following table:

Table 95: Hedged Items - Fair Value Hedges
 December 31, 2022December 31, 2021
In millionsCarrying Value of the Hedged ItemsCumulative Fair Value Hedge Adjustment included in the Carrying Value of Hedged Items (a)Carrying Value of the Hedged ItemsCumulative Fair Value Hedge Adjustment included in the Carrying Value of Hedged Items (a)
Investment securities - available for sale (b)$2,376 $(121)$2,655 $23 
Borrowed funds$21,781 $(1,283)$24,259 $663 
(a)Includes less than $(0.1) billion and $(0.1) billion of fair value hedge adjustments primarily related to discontinued borrowed funds hedge relationships at December 31, 2022 and 2021, respectively.
(b)Carrying value shown represents amortized cost.
Risk Participation Agreements
Table 96: Risk Participation Agreements
 Year ended December 31
In billions20222021
Risk participation agreements:
Sold - notional amount$8.0 $8.0 
Maximum potential amount of exposure (a)$0.1 $0.3 
(a)Based on the fair value of the underlying swaps assuming all underlying third party customers referenced in the swap contracts defaulted.
Gains (Losses) on Derivatives Not Designated as Hedging Instruments under GAAP
Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table:
Table 97: Gains (Losses) on Derivatives Not Designated for Hedging
 Year ended December 31
In millions202220212020
Derivatives used for mortgage banking activities:
Interest rate contracts (a)$(671)$(78)$792 
Derivatives used for customer-related activities:
Interest rate contracts220 149 210 
Foreign exchange contracts and other111 135 156 
Gains from customer-related activities (b)331 284 366 
Derivatives used for other risk management activities:
Foreign exchange contracts and other (b)255 (30)(338)
Total gains (losses) from derivatives not designated as hedging instruments$(85)$176 $820 
(a)Included in Residential and commercial mortgage noninterest income on our Consolidated Income Statement.
(b)Included in Capital markets and advisory and Other noninterest income on our Consolidated Income Statement.
Derivative Assets And Liabilities Offsetting
Table 98: Derivative Assets and Liabilities Offsetting
In millionsGross Fair ValueAmounts Offset on the Consolidated Balance SheetNet Fair Value Securities Collateral Held /Pledged Under Master Netting AgreementsNet Amounts
Fair Value Offset AmountCash Collateral
December 31, 2022
Derivative assets       
Interest rate contracts:
Over-the-counter cleared $23 $23  $23 
Over-the-counter2,100 $974 $630 496  $34 462 
Commodity contracts1,208 335 2 871 871 
Foreign exchange and other contracts437 214 82 141  141 
Total derivative assets$3,768 $1,523 $714 $1,531 (a)$34 $1,497 
Derivative liabilities
Interest rate contracts:
Over-the-counter cleared $28 $28  $28 
Over-the-counter5,801 $625 $1,041 4,135  $78 4,057 
Commodity contracts1,269 679 520 70 466 
Foreign exchange and other contracts520 219 10 291  291 
Total derivative liabilities$7,618 $1,523 $1,571 $4,524 (b)$82 $4,442 
December 31, 2021             
Derivative assets
Interest rate contracts:
Over-the-counter cleared $20 $20  $20 
Over-the-counter3,561 $533 $593 2,435  $300 2,135 
Commodity contracts1,363 299 1 1,063 1,063 
Foreign exchange and other contracts208 96 10 102  102 
Total derivative assets$5,152 $928 $604 $3,620 (a)$300 $3,320 
Derivative liabilities
Interest rate contracts:
Over-the-counter cleared $12 $12  $12 
Over-the-counter1,643 $569 $776 298  298 
Commodity contracts1,373 291 784 298 298 
Foreign exchange and other contracts542 68 97 377  377 
Total derivative liabilities$3,570 $928 $1,657 $985 (b)$985 
(a)Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet.
(b)Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet.
Credit-Risk Contingent Features
Table 99: Credit-Risk Contingent Features
 Year ended December 31
In billions20222021
Net derivative liabilities with credit-risk contingent features$5.8 $2.4 
Collateral posted 1.7 1.8 
Maximum additional amount of collateral exposure $4.1 $0.6