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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following table presents assets and liabilities measured at estimated fair value on a recurring basis:
| September 30, 2023 |  |  | December 31, 2022 |
| Level 1 |  | Level 2 |  | Level 3 (1) |  | Total Estimated Fair Value |  |  | Level 1 |  | Level 2 |  | Level 3 (1) |  | Total Estimated Fair Value |
| (In millions) |
Recurring fair value measurements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 1,186 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,186 |  |  |  | $ | 1,187 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,187 |  |
Federal agency securities | — |  |  | 1,004 |  |  | — |  |  | 1,004 |  |  |  | — |  |  | 836 |  |  | — |  |  | 836 |  |
Obligations of states and political subdivisions | — |  |  | 2 |  |  | — |  |  | 2 |  |  |  | — |  |  | 2 |  |  | — |  |  | 2 |  |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential agency | — |  |  | 15,740 |  |  | — |  |  | 15,740 |  |  |  | — |  |  | 16,954 |  |  | — |  |  | 16,954 |  |
Residential non-agency | — |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | 1 |  |  | 1 |  |
Commercial agency | — |  |  | 7,158 |  |  | — |  |  | 7,158 |  |  |  | — |  |  | 7,613 |  |  | — |  |  | 7,613 |  |
Commercial non-agency | — |  |  | 78 |  |  | — |  |  | 78 |  |  |  | — |  |  | 186 |  |  | — |  |  | 186 |  |
Corporate and other debt securities | — |  |  | 1,059 |  |  | 1 |  |  | 1,060 |  |  |  | — |  |  | 1,153 |  |  | 1 |  |  | 1,154 |  |
Total debt securities available for sale | $ | 1,186 |  |  | $ | 25,041 |  |  | $ | 1 |  |  | $ | 26,228 |  |  |  | $ | 1,187 |  |  | $ | 26,744 |  |  | $ | 2 |  |  | $ | 27,933 |  |
Loans held for sale | $ | — |  |  | $ | 217 |  |  | $ | 62 |  |  | $ | 279 |  |  |  | $ | — |  |  | $ | 177 |  |  | $ | 19 |  |  | $ | 196 |  |
Marketable equity securities in other earning assets | $ | 745 |  |  | $ | — |  |  | $ | — |  |  | $ | 745 |  |  |  | $ | 529 |  |  | $ | — |  |  | $ | — |  |  | $ | 529 |  |
Residential mortgage servicing rights | $ | — |  |  | $ | — |  |  | $ | 932 |  |  | $ | 932 |  |  |  | $ | — |  |  | $ | — |  |  | $ | 812 |  |  | $ | 812 |  |
Derivative assets (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | — |  |  | $ | 2,728 |  |  | $ | — |  |  | $ | 2,728 |  |  |  | $ | — |  |  | $ | 2,335 |  |  | $ | — |  |  | $ | 2,335 |  |
Interest rate options | — |  |  | 91 |  |  | 8 |  |  | 99 |  |  |  | — |  |  | 91 |  |  | 3 |  |  | 94 |  |
Interest rate futures and forward commitments | — |  |  | 8 |  |  | — |  |  | 8 |  |  |  | — |  |  | 8 |  |  | — |  |  | 8 |  |
Other contracts | — |  |  | 144 |  |  | — |  |  | 144 |  |  |  | 3 |  |  | 169 |  |  | — |  |  | 172 |  |
Total derivative assets | $ | — |  |  | $ | 2,971 |  |  | $ | 8 |  |  | $ | 2,979 |  |  |  | $ | 3 |  |  | $ | 2,603 |  |  | $ | 3 |  |  | $ | 2,609 |  |
Derivative liabilities (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | — |  |  | $ | 3,996 |  |  | $ | — |  |  | $ | 3,996 |  |  |  | $ | — |  |  | $ | 3,161 |  |  | $ | — |  |  | $ | 3,161 |  |
Interest rate options | — |  |  | 93 |  |  | — |  |  | 93 |  |  |  | — |  |  | 85 |  |  | — |  |  | 85 |  |
Interest rate futures and forward commitments | — |  |  | 7 |  |  | — |  |  | 7 |  |  |  | — |  |  | 5 |  |  | — |  |  | 5 |  |
Other contracts | 11 |  |  | 118 |  |  | 1 |  |  | 130 |  |  |  | 2 |  |  | 124 |  |  | 1 |  |  | 127 |  |
Total derivative liabilities | $ | 11 |  |  | $ | 4,214 |  |  | $ | 1 |  |  | $ | 4,226 |  |  |  | $ | 2 |  |  | $ | 3,375 |  |  | $ | 1 |  |  | $ | 3,378 |  |
_________ (1)All following disclosures related to Level 3 recurring assets do not include those deemed to be immaterial. (2)As permitted under U.S. GAAP, variation margin collateral payments made or received for derivatives that are centrally cleared are legally characterized as settled. As such, these derivative assets and derivative liabilities and the related variation margin collateral are presented on a net basis on the balance sheet.
Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs | The following tables present an analysis of residential MSRs for the three and nine months ended September 30, 2023 and 2022, respectively. .
| Residential mortgage servicing rights
| Three Months Ended September 30 |  | Nine Months Ended September 30
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In millions)
Carrying value, beginning of period | $ | 801 |  |  | $ | 770 |  |  | $ | 812 |  |  | $ | 418 |
Total realized/unrealized gains (losses) included in earnings (1) | 17 |  |  | 5 |  |  | (38) |  |  | 72 |
Additions | 8 |  |  | 9 |  |  | 20 |  |  | 38 |
Purchases | 106 |  |  | 25 |  |  | 138 |  |  | 281 |
Carrying value, end of period | $ | 932 |  |  | $ | 809 |  |  | $ | 932 |  |  | $ | 809 |
_________ (1) Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives.
Summary Of Quantitative Information About Level 3 Measurements | The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of September 30, 2023, and December 31, 2022. The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted-average within the range utilized at September 30, 2023 and December 31, 2022 are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs.
| September 30, 2023
| Level 3 Estimated Fair Value |  | Valuation Technique |  | Unobservable Input(s) |  | Quantitative Range of Unobservable Inputs and (Weighted-Average)
| (Dollars in millions)
Recurring fair value measurements: |  |  |  |  |  |  |
Residential mortgage servicing rights (1) | $932 |  | Discounted cash flow |  | Weighted-average CPR (%) |  | 5.5% - 13.3% (7.7%)
|  |  |  |  | OAS (%) |  | 4.5% - 8.2% (4.8%)
_________ (1)See Note 4 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights.
| December 31, 2022
| Level 3 Estimated Fair Value |  | Valuation Technique |  | Unobservable Input(s) |  | Quantitative Range of Unobservable Inputs and (Weighted-Average)
| (Dollars in millions)
Recurring fair value measurements: |  |  |  |  |  |  |
Residential mortgage servicing rights (1) | $812 |  | Discounted cash flow |  | Weighted-average CPR (%) |  | 6.1% - 15.1% (7.4%)
|  |  |  |  | OAS (%) |  | 4.8% -8.2% (5.1%)
_______ (1)See Note 6 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2022 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights.
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of September 30, 2023 are as follows:
| September 30, 2023
| Carrying Amount |  | Estimated Fair Value(1) |  | Level 1 |  | Level 2 |  | Level 3
| (In millions)
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 9,016 |  |  | $ | 9,016 |  |  | $ | 9,016 |  |  | $ | — |  |  | $ | — |
Debt securities held to maturity | 763 |  |  | 703 |  |  | — |  |  | 703 |  |  | — |
Debt securities available for sale | 26,228 |  |  | 26,228 |  |  | 1,186 |  |  | 25,041 |  |  | 1 |
Loans held for sale | 459 |  |  | 459 |  |  | — |  |  | 397 |  |  | 62 |
Loans (excluding leases), net of unearned income and allowance for loan losses(2)(3) | 95,753 |  |  | 90,849 |  |  | — |  |  | — |  |  | 90,849 |
Other earning assets | 1,552 |  |  | 1,552 |  |  | 745 |  |  | 807 |  |  | — |
Derivative assets | 2,979 |  |  | 2,979 |  |  | — |  |  | 2,971 |  |  | 8 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Derivative liabilities | 4,226 |  |  | 4,226 |  |  | 11 |  |  | 4,214 |  |  | 1 |
Deposits with no stated maturity(4) | 113,006 |  |  | 113,006 |  |  | — |  |  | 113,006 |  |  | — |
Time deposits(4) | 13,193 |  |  | 13,095 |  |  | — |  |  | 13,095 |  |  | — |
Short-term borrowings | 2,000 |  |  | 2,000 |  |  | — |  |  | 2,000 |  |  | — |
Long-term borrowings | 4,290 |  |  | 4,256 |  |  | — |  |  | 4,255 |  |  | 1 |
Loan commitments and letters of credit | 157 |  |  | 157 |  |  | — |  |  | — |  |  | 157 |
_________ (1)Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. (2)The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at September 30, 2023 was $4.9 billion or 5.1 percent. (3)Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.6 billion at September 30, 2023. (4)The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates. The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2022 are as follows:
| December 31, 2022
| Carrying Amount |  | Estimated Fair Value(1) |  | Level 1 |  | Level 2 |  | Level 3
| (In millions)
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 11,227 |  |  | $ | 11,227 |  |  | $ | 11,227 |  |  | $ | — |  |  | $ | — |
Debt securities held to maturity | 801 |  |  | 751 |  |  | — |  |  | 751 |  |  | — |
Debt securities available for sale | 27,933 |  |  | 27,933 |  |  | 1,187 |  |  | 26,744 |  |  | 2 |
Loans held for sale | 354 |  |  | 354 |  |  | — |  |  | 335 |  |  | 19 |
Loans (excluding leases), net of unearned income and allowance for loan losses(2)(3) | 94,044 |  |  | 89,540 |  |  | — |  |  | — |  |  | 89,540 |
Other earning assets | 1,308 |  |  | 1,308 |  |  | 529 |  |  | 779 |  |  | — |
Derivative assets | 2,609 |  |  | 2,609 |  |  | 3 |  |  | 2,603 |  |  | 3 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Derivative liabilities | 3,378 |  |  | 3,378 |  |  | 2 |  |  | 3,375 |  |  | 1 |
Deposits with no stated maturity(4) | 125,971 |  |  | 125,971 |  |  | — |  |  | 125,971 |  |  | — |
Time deposits(4) | 5,772 |  |  | 5,697 |  |  | — |  |  | 5,697 |  |  | — |
Long-term borrowings | 2,284 |  |  | 2,376 |  |  | — |  |  | 2,375 |  |  | 1 |
Loan commitments and letters of credit | 153 |  |  | 153 |  |  | — |  |  | — |  |  | 153 |
_________ (1)Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred. (2)The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at December 31, 2022 was $4.5 billion or 4.8 percent. (3)Excluded from this table is the sales-type, direct financing, and leveraged lease carrying amount of $1.5 billion at December 31, 2022. (4)The fair value of non-interest-bearing demand accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates.

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