XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Fair value measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis | The following tables present assets and liabilities at June 30, 2024 and December 31, 2023 measured at estimated fair value on a recurring basis:
(Dollars in millions) | Fair Value Measurements |  | Level 1 |  | Level 2 |  | Level 3 (a)
June 30, 2024 |  |  |  |  |  |  |
Trading account | $ | 99 |  |  | $ | 99 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale: |  |  |  |  |  |  |
U.S. Treasury and federal agencies | 7,736 |  |  | — |  |  | 7,736 |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |
Government issued or guaranteed: |  |  |  |  |  |  |
Commercial | 2,089 |  |  | — |  |  | 2,089 |  |  | — |
Residential | 3,966 |  |  | — |  |  | 3,966 |  |  | — |
Other debt securities | 101 |  |  | — |  |  | 101 |  |  | — |
| 13,892 |  |  | — |  |  | 13,892 |  |  | — |
Equity securities | 280 |  |  | 265 |  |  | 15 |  |  | — |
Real estate loans held for sale | 377 |  |  | — |  |  | 377 |  |  | — |
Other assets (b) | 295 |  |  | — |  |  | 280 |  |  | 15 |
Total assets | $ | 14,943 |  |  | $ | 364 |  |  | $ | 14,564 |  |  | $ | 15 |
Other liabilities (b) | $ | 1,041 |  |  | $ | — |  |  | $ | 1,012 |  |  | $ | 29 |
Total liabilities | $ | 1,041 |  |  | $ | — |  |  | $ | 1,012 |  |  | $ | 29 |
December 31, 2023 |  |  |  |  |  |  |
Trading account | $ | 106 |  |  | $ | 101 |  |  | $ | 5 |  |  | $ | — |
Investment securities available for sale: |  |  |  |  |  |  |
U.S. Treasury and federal agencies | 7,705 |  |  | — |  |  | 7,705 |  |  | — |
Mortgage-backed securities: |  |  |  |  |  |  |
Government issued or guaranteed: |  |  |  |  |  |  |
Commercial | 416 |  |  | — |  |  | 416 |  |  | — |
Residential | 2,154 |  |  | — |  |  | 2,154 |  |  | — |
Other debt securities | 165 |  |  | — |  |  | 165 |  |  | — |
| 10,440 |  |  | — |  |  | 10,440 |  |  | — |
Equity securities | 268 |  |  | 258 |  |  | 10 |  |  | — |
Real estate loans held for sale | 379 |  |  | — |  |  | 379 |  |  | — |
Other assets (b) | 324 |  |  | — |  |  | 309 |  |  | 15 |
Total assets | $ | 11,517 |  |  | $ | 359 |  |  | $ | 11,143 |  |  | $ | 15 |
Other liabilities (b) | $ | 943 |  |  | $ | — |  |  | $ | 911 |  |  | $ | 32 |
Total liabilities | $ | 943 |  |  | $ | — |  |  | $ | 911 |  |  | $ | 32 |
_______________________________________________________________ (a)Significant unobservable inputs used in the fair value measurement of commitments to originate real estate loans held for sale included weighted-average commitment expirations of 6% at June 30, 2024 and 5% at December 31, 2023. An increase (decrease) in the estimate of expirations for commitments to originate real estate loans would generally result in a lower (higher) fair value measurement. Estimated commitment expirations are derived considering loan type, changes in interest rates and remaining length of time until closing. (b)Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), interest rate and foreign exchange contracts not designated as hedging instruments (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3).
Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) | The carrying amounts and estimated fair value for certain financial instruments that are not recorded at fair value in the Consolidated Balance Sheet are presented in the following table:
(Dollars in millions) | Carrying Amount |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
June 30, 2024 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,778 |  |  | $ | 1,778 |  |  | $ | 1,607 |  |  | $ | 171 |  |  | $ | — |
Interest-bearing deposits at banks | 24,792 |  |  | 24,792 |  |  | — |  |  | 24,792 |  |  | — |
Investment securities held to maturity | 14,793 |  |  | 13,509 |  |  | — |  |  | 13,467 |  |  | 42 |
Loans and leases, net | 132,798 |  |  | 129,866 |  |  | — |  |  | 6,865 |  |  | 123,001 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Time deposits | 17,513 |  |  | 17,463 |  |  | — |  |  | 17,463 |  |  | — |
Short-term borrowings | 4,764 |  |  | 4,764 |  |  | — |  |  | 4,764 |  |  | — |
Long-term borrowings | 11,319 |  |  | 11,282 |  |  | — |  |  | 11,282 |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 1,731 |  |  | 1,731 |  |  | 1,668 |  |  | 63 |  |  | — |
Interest-bearing deposits at banks | 28,069 |  |  | 28,069 |  |  | — |  |  | 28,069 |  |  | — |
Investment securities held to maturity | 15,330 |  |  | 14,308 |  |  | — |  |  | 14,262 |  |  | 46 |
Loans and leases, net | 131,939 |  |  | 129,138 |  |  | — |  |  | 7,240 |  |  | 121,898 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Time deposits | 20,759 |  |  | 20,715 |  |  | — |  |  | 20,715 |  |  | — |
Short-term borrowings | 5,316 |  |  | 5,316 |  |  | — |  |  | 5,316 |  |  | — |
Long-term borrowings | 8,201 |  |  | 8,107 |  |  | — |  |  | 8,107 |  |  | — |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration