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Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) (Tables) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Equity [Abstract]

Summary of the non-cumulative perpetual preferred stock

The following table presents a summary of the non-cumulative perpetual preferred stock:    

																																																June 30, 2021						December 31, 2020
			Issuance Date						Earliest Redemption Date						Dividend Rate (1)									Liquidation Amount						Liquidation Preference per Share						Liquidation preference per Depositary Share						Ownership Interest per Depositary Share						Carrying Amount						Carrying Amount
			(Dollars in millions, except per share data)
Series A (2)			11/1/2012						12/15/2017						6.375		%							$	—					$	1,000					$	25					1/40th						$	—					$	387
Series B			4/29/2014						9/15/2024						6.375		%	(3)						500						1,000						25						1/40th						433						433
Series C			4/30/2019						5/15/2029						5.700		%	(4)						500						1,000						25						1/40th						490						490
Series D			6/5/2020						9/15/2025						5.750		%	(5)						350						100,000						1,000						1/100th						346						346
Series E			5/4/2021						6/15/2026						4.450		%							400						1,000						25						1/40th						390						—
																								$	1,750																							$	1,659					$	1,656

_________

(1)Dividends on all series of preferred stock, if declared, accrue and are payable quarterly in arrears.

(2)The shares were fully redeemed on June 15, 2021.

(3)Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536%.

(4)Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to August 15, 2029, 5.700%, and (ii) for each period beginning on or after August 15, 2029, three-month LIBOR plus 3.148%.

(5)Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2025, 5.750%, and (ii) for each period beginning on or after September 15, 2025, the five-year treasury rate as of the most recent reset dividend determination date plus 5.426%.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables present the balances and activity in AOCI on a pre-tax and net of tax basis for the three and six months ended June 30, 2021 and 2020:

			Three Months Ended June 30, 2021
			Pre-tax AOCI Activity						Tax Effect (1)						Net AOCI Activity
			(In millions)
Total accumulated other comprehensive income, beginning of period			$	793					$	(201)					$	592
Unrealized losses on securities transferred to held to maturity:
Beginning balance			$	(18)					$	4					$	(14)
Reclassification adjustments for amortization of unrealized losses (2)			1						—						1
Ending balance			$	(17)					$	4					$	(13)
Unrealized gains (losses) on securities available for sale:
Beginning balance			$	513					$	(130)					$	383
Unrealized gains (losses) arising during the period			94						(23)						71
Reclassification adjustments for securities (gains) losses realized in net income (loss) (3)			(1)						—						(1)
Change in AOCI from securities available for sale activity in the period			93						(23)						70
Ending balance			$	606					$	(153)					$	453
Unrealized gains (losses) on derivative instruments designated as cash flow hedges:
Beginning balance			$	1,177					$	(297)					$	880
Unrealized holding gains (losses) on derivatives arising during the period			74						(18)						56
Reclassification adjustments for (gains) losses realized in net income (2)			(104)						26						(78)
Change in AOCI from derivative activity in the period			(30)						8						(22)
Ending balance			$	1,147					$	(289)					$	858
Defined benefit pension plans and other post employment benefit plans:
Beginning balance			$	(879)					$	222					$	(657)
Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4)			14						(4)						10
Ending balance			$	(865)					$	218					$	(647)
Total other comprehensive income			78						(19)						59
Total accumulated other comprehensive income, end of period			$	871					$	(220)					$	651

			Three Months Ended June 30, 2020
			Pre-tax AOCI Activity						Tax Effect (1)						Net AOCI Activity
			(In millions)
Total accumulated other comprehensive income (loss), beginning of period			$	1,771					$	(447)					$	1,324
Unrealized losses on securities transferred to held to maturity:
Beginning balance			$	(28)					$	7					$	(21)
Reclassification adjustments for amortization of unrealized losses (2)			1						—						1
Ending balance			$	(27)					$	7					$	(20)
Unrealized gains (losses) on securities available for sale:
Beginning balance			$	871					$	(220)					$	651
Unrealized gains (losses) arising during the period			246						(61)						185
Reclassification adjustments for securities (gains) losses realized in net income (loss) (3)			(1)						—						(1)
Change in AOCI from securities available for sale activity in the period			245						(61)						184
Ending balance			$	1,116					$	(281)					$	835
Unrealized gains (losses) on derivative instruments designated as cash flow hedges:
Beginning balance			$	1,712					$	(431)					$	1,281
Unrealized holding gains (losses) on derivatives arising during the period			205						(52)						153
Reclassification adjustments for (gains) losses realized in income (2)			(60)						15						(45)
Change in AOCI from derivative activity in the period			145						(37)						108
Ending balance			$	1,857					$	(468)					$	1,389
Defined benefit pension plans and other post employment benefit plans:
Beginning balance			$	(784)					$	197					$	(587)
Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4)			12						(3)						9
Ending balance			$	(772)					$	194					$	(578)
Total other comprehensive income			403						(101)						302
Total accumulated other comprehensive income, end of period			$	2,174					$	(548)					$	1,626

			Six Months Ended June 30, 2021
			Pre-tax AOCI Activity						Tax Effect (1)						Net AOCI Activity
			(In millions)
Total accumulated other comprehensive income (loss), beginning of period			$	1,759					$	(444)					$	1,315
Unrealized losses on securities transferred to held to maturity:
Beginning balance			$	(21)					$	5					$	(16)
Reclassification adjustments for amortization of unrealized losses (2)			4						(1)						3
Ending Balance			$	(17)					$	4					$	(13)
Unrealized gains (losses) on securities available for sale:
Beginning balance			$	1,062					$	(268)					$	794
Unrealized gains (losses) arising during the period			(454)						115						(339)
Reclassification adjustments for securities (gains) losses realized in net income (loss) (3)			(2)						—						(2)
Change in AOCI from securities available for sale activity in the period			(456)						115						(341)
Ending Balance			$	606					$	(153)					$	453
Unrealized gains (losses) on derivative instruments designated as cash flow hedges:
Beginning balance			$	1,610					$	(406)					$	1,204
Unrealized holding gains (losses) on active hedges arising during the period			(257)						65						(192)
Reclassification adjustments for (gains) losses realized in net income (2)			(206)						52						(154)
Change in AOCI from derivative activity in the period			(463)						117						(346)
Ending balance			$	1,147					$	(289)					$	858
Defined benefit pension plans and other post employment benefit plans:
Beginning balance			$	(892)					$	225					$	(667)
Reclassification adjustments for amortization of actuarial gains (losses) and settlements realized in net income (4)			27						(7)						20
Ending Balance			$	(865)					$	218					$	(647)
Total other comprehensive income			(888)						224						(664)
Total accumulated other comprehensive income (loss), end of period			$	871					$	(220)					$	651

			Six Months Ended June 30, 2020
			Pre-tax AOCI Activity						Tax Effect (1)						Net AOCI Activity
			(In millions)
Total accumulated other comprehensive income (loss), beginning of period			$	(120)					$	30					$	(90)
Unrealized losses on securities transferred to held to maturity:
Beginning balance			$	(29)					$	7					$	(22)
Reclassification adjustments for amortization of unrealized losses (2)			2						—						2
Ending Balance			$	(27)					$	7					$	(20)
Unrealized gains (losses) on securities available for sale:
Beginning balance			$	274					$	(69)					$	205
Unrealized gains (losses) arising during the period			843						(212)						631
Reclassification adjustments for securities (gains) losses realized in net income (loss) (3)			(1)						—						(1)
Change in AOCI from securities available for sale activity in the period			842						(212)						630
Ending Balance			$	1,116					$	(281)					$	835
Unrealized gains (losses) on derivative instruments designated as cash flow hedges:
Beginning balance			$	430					$	(108)					$	322
Unrealized holding gains (losses) on derivatives arising during the period			1,496						(377)						1,119
Reclassification adjustments for (gains) losses realized in net income (2)			(69)						17						(52)
Change in AOCI from derivative activity in the period			1,427						(360)						1,067
Ending balance			$	1,857					$	(468)					$	1,389
Defined benefit pension plans and other post employment benefit plans:
Beginning balance			$	(795)					$	200					$	(595)
Amounts reclassified for amortization of actuarial gains (losses) and settlements realized in net income (4)			23						(6)						17
Ending Balance			$	(772)					$	194					$	(578)
Total other comprehensive income			2,294						(578)						1,716
Total accumulated other comprehensive income, end of period			$	2,174					$	(548)					$	1,626

_________

(1)The impact of all AOCI activity is shown net of the related tax impact, calculated using an effective tax rate of approximately 25%.

(2)Reclassification amount is recognized in net interest income in the consolidated statements of income.

(3)Reclassification amount is recognized in securities gains (losses), net in the consolidated statements of income.

(4)Reclassification amount is recognized in other non-interest expense in the consolidated statements of income. Additionally, these accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 7 for additional details).

Unrealized holding gains (losses) arising during the period on securities available for sale (net of tax)

$ 71

$ 185

$ (339)

$ 631

Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax

56

153

(192)

1,119

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax

$ (22)

$ 108

$ (346)

$ 1,067

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