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Financial Derivatives (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Total Gross Derivatives
The following tables presents the notional and gross fair value amounts of all derivative assets and liabilities held by us:
Table 73: Total Gross Derivatives (a)
 June 30, 2024December 31, 2023
In millionsNotional /
Contract Amount		Asset Fair
Value (b)		Liability Fair
Value (c)		Notional /
Contract Amount		Asset Fair
Value (b)		Liability Fair
Value (c)
Derivatives used for hedging
Interest rate contracts:
Fair value hedges (d)$45,627 $32,079 
Cash flow hedges (d)52,797 $2  33,302 
Cash flow hedges - other (e)25,000 209 $217 25,000 $327 $137 
Foreign exchange contracts:
Net investment hedges1,235 7  1,174 2 
Total derivatives designated for hedging $124,659 $218 $217 $91,555 $327 $139 
Derivatives not used for hedging
Derivatives used for mortgage banking activities (f):
Interest rate contracts:
Swaps$46,247  $43,450  
Futures (g)8,920 10,370 
Mortgage-backed commitments4,573 $58 $51 3,093 $66 $67 
Other15,695 18 11 15,544 46 22 
Total interest rate contracts75,435 76 62 72,457 112 89 
Derivatives used for customer-related activities:
Interest rate contracts:
Swaps 395,502 1,733 4,815 401,607 1,723 4,228 
Futures (g)110 73 
Mortgage-backed commitments4,595 5 9 2,592 9 25 
Other27,749 185 138 28,489 186 169 
Total interest rate contracts427,956 1,923 4,962 432,761 1,918 4,422 
Commodity contracts:
Swaps6,498 380 356 6,714 577 569 
Other9,130 230 230 4,797 188 188 
Total commodity contracts15,628 610 586 11,511 765 757 
Foreign exchange contracts and other31,280 248 196 32,885 295 239 
Total derivatives for customer-related activities474,864 2,781 5,744 477,157 2,978 5,418 
Derivatives used for other risk management activities:
Foreign exchange contracts and other12,372 45 193 14,882 12 253 
Total derivatives not designated for hedging $562,671 $2,902 $5,999 $564,496 $3,102 $5,760 
Total gross derivatives$687,330 $3,120 $6,216 $656,051 $3,429 $5,899 
Less: Impact of legally enforceable master netting agreements1,321 1,321 1,406 1,406 
Less: Cash collateral received/paid1,139 1,189  1,126 955 
Total derivatives $660 $3,706 $897 $3,538 
(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)Represents caps and floors.
(f)Includes both residential and commercial mortgage banking activities.
(g)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 Fair Value and Cash Flow Hedges
Further detail regarding gains (losses) related to our fair value and cash flow hedge derivatives is presented in the following table:
Table 74: 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 IncomeInterest ExpenseNoninterest Income
In millionsLoansInvestment SecuritiesBorrowed FundsOther
For the three months ended June 30, 2024
Total amounts in the Consolidated Income Statement$4,842 $1,001 $1,182 $332 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$182 $22 
Derivatives$(185)$(19)
Amounts related to interest settlements on derivatives$29 $(190)
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
other comprehensive income 		$(347)$(8)$(28)
Other amounts related to interest settlements on derivatives$20 
For the three months ended June 30, 2023
Total amounts in the Consolidated Income Statement$4,523 $883 $903 $129 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$(48)$432 
Derivatives$50 $(439)
Amounts related to interest settlements on derivatives$7 $(147)
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
other comprehensive income		$(365)$(8)
Other amounts related to interest settlements on derivatives$27 
For the six months ended June 30, 2024
Total amounts on the Consolidated Income Statement$9,661 $1,884 $2,341 $467 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$108 $435 
Derivatives$(111)$(447)
Amounts related to interest settlements on derivatives$39 $(365)
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
other comprehensive income 		$(716)$(15)$(28)
Other amounts related to interest settlements on derivatives$42 
For the six months ended June 30, 2023
Total amounts on the Consolidated Income Statement$8,781 $1,768 $1,686 $387 
Gains (losses) on fair value hedges recognized on:
Hedged items (c)$(1)$135 
Derivatives$5 $(148)
Amounts related to interest settlements on derivatives$12 $(260)
Gains (losses) on cash flow hedges (d):
Amount of derivative gains (losses) reclassified from accumulated
other comprehensive income		$(690)$(13)
Other amounts related to interest settlements on derivatives$55 
(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 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 75: Hedged Items - Fair Value Hedges
 
 June 30, 2024December 31, 2023
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)$12,000 $(12)$2,076 $(122)
Borrowed funds$32,543 $(1,172)$30,503 $(737)
(a)Includes less than $(0.1) billion of fair value hedge adjustments primarily related to discontinued borrowed funds hedge relationships at both June 30, 2024 and December 31, 2023.
(b)Carrying value shown represents amortized cost.
Gains (Losses) on Derivatives Not Designated as Hedging Instruments under GAAP
Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table:
Table 76: Gains (Losses) on Derivatives Not Designated for Hedging
 Three months ended June 30Six months ended June 30
In millions2024202320242023
Derivatives used for mortgage banking activities:
Interest rate contracts (a)$(45)$(184)$(168)$(77)
Derivatives used for customer-related activities:
Interest rate contracts(21)33 (37)35 
Foreign exchange contracts and other 46 58 75 114 
Gains from customer-related activities (b)25 91 38 149 
Derivatives used for other risk management activities:
Foreign exchange contracts and other (b)(93)(137)32 (214)
Total gains (losses) from derivatives not designated as hedging instruments$(113)$(230)$(98)$(142)
(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 77: Derivative Assets and Liabilities Offsetting

In millions  Amounts Offset on the
Consolidated Balance Sheet		   Securities Collateral Held/Pledged Under Master Netting Agreements  
Gross
Fair Value		Fair Value
Offset Amount		Cash
Collateral		Net
Fair Value		 Net Amounts
June 30, 2024
Derivative assets
Interest rate contracts:
Over-the-counter cleared $11 $11  $11 
Over-the-counter2,199 $914 $870 415  $31 384 
Commodity contracts610 324 156 130 2128 
Foreign exchange and other contracts300 83 113 104  104 
Total derivative assets$3,120 $1,321 $1,139 $660 (a) $33 $627 
Derivative liabilities
Interest rate contracts:
Over-the-counter cleared $15 $15  $15 
Over-the-counter5,226 $802 $1,188 3,236  $64 3,172 
Commodity contracts 586 418  168 168 
Foreign exchange and other contracts389 101 1 287  287 
Total derivative liabilities$6,216 $1,321 $1,189 $3,706 (b)$64 $3,642 
December 31, 2023
Derivative assets
Interest rate contracts:
Over-the-counter cleared$19 $19  $19 
Over-the-counter2,338 $976 $767 595  $61 534 
Commodity contracts765 316 283 166 5 161 
Foreign exchange and other contracts307 114 76 117   117 
Total derivative assets$3,429 $1,406 $1,126 $897 (a)$66 $831 
Derivative liabilities
Interest rate contracts:
Over-the-counter cleared$36 $36  $36 
Over-the-counter4,612 $885 $942 2,785  $58 2,727 
Commodity contracts757 332  425  425 
Foreign exchange and other contracts494 189 13 292  292 
Total derivative liabilities$5,899 $1,406 $955 $3,538 (b)$58 $3,480 
(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 78: Credit-Risk Contingent Features
 In billionsJune 30, 2024December 31, 2023
Net derivative liabilities with credit-risk contingent features$4.8 $4.2 
Less: Collateral posted 1.3 1.0 
Maximum additional amount of collateral exposure $3.5 $3.2