XML 97 R38.htm IDEA: XBRL DOCUMENT
v3.21.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Details of Securities | The amortized cost, unrealized gains and losses, and approximate fair value of our securities available for sale and held-to-maturity securities are presented in the following tables. Gross unrealized gains and losses represent the difference between the amortized cost and the fair value of securities on the balance sheet as of the dates indicated. Accordingly, the amount of these gains and losses may change in the future as market conditions change.
| March 31, 2021 |  | December 31, 2020
in millions | Amortized Cost (a) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value |  | Amortized Cost (b) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
SECURITIES AVAILABLE FOR SALE |  |  |  |  |  |  |  |  |
U.S. Treasury, agencies, and corporations | $ | 4,914 |  | $ | — |  | $ | 13 |  | $ | 4,901 |  |  | $ | 1,000 |  | — |  | — |  | $ | 1,000 |
States and political subdivisions | — |  | — |  | — |  | — |  |  | — |  | — |  | — |  | — |
Agency residential collateralized mortgage obligations | 14,419 |  | $ | 249 |  | 219 |  | 14,449 |  |  | 14,001 |  | $ | 297 |  | $ | 25 |  | 14,273 |
Agency residential mortgage-backed securities | 4,018 |  | 57 |  | 49 |  | 4,026 |  |  | 2,094 |  | 70 |  | — |  | 2,164 |
Agency commercial mortgage-backed securities | 10,644 |  | 275 |  | 394 |  | 10,525 |  |  | 9,707 |  | 432 |  | 33 |  | 10,106 |
Other securities | 8 |  | 14 |  |  | 22 |  |  | 8 |  | 5 |  | — |  | 13 |
Total securities available for sale | $ | 34,003 |  | $ | 595 |  | $ | 675 |  | $ | 33,923 |  |  | $ | 26,810 |  | $ | 804 |  | $ | 58 |  | $ | 27,556 |
HELD-TO-MATURITY SECURITIES |  |  |  |  |  |  |  |  |
Agency residential collateralized mortgage obligations | $ | 3,312 |  | $ | 107 |  | — |  | $ | 3,419 |  |  | $ | 3,775 |  | $ | 124 |  | — |  | $ | 3,899 |
Agency residential mortgage-backed securities | 238 |  | 9 |  | — |  | 247 |  |  | 271 |  | 14 |  | — |  | 285 |
Agency commercial mortgage-backed securities | 3,275 |  | 186 |  | — |  | 3,461 |  |  | 3,515 |  | 290 |  | — |  | 3,805 |
Asset-backed securities | 16 |  | — |  | — |  | 16 |  |  | 19 |  | — |  | — |  | 19 |
Other securities | 16 |  | — |  | — |  | 16 |  |  | 15 |  | — |  | — |  | 15 |
Total held-to-maturity securities | $ | 6,857 |  | $ | 302 |  | — |  | $ | 7,159 |  |  | $ | 7,595 |  | $ | 428 |  | $ | — |  | $ | 8,023 |
(a)Amortized cost amounts exclude accrued interes t receivable which is recorded within Other Assets on the balance sheet. At March 31, 2021, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $49 million and $14 million, respectively. (b)Amortized cost amounts exclude accrued interes t receivable which is recorded within Other Assets on the balance sheet. At December 31, 2020, accrued interest receivable on available for sale securities and held-to-maturity securities totaled $42 million and $15 million, respectively.
Schedule of Unrealized Loss on Investments | The following table summarizes available for sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2021, and December 31, 2020.
| Duration of Unrealized Loss Position |  |  |
| Less than 12 Months |  | 12 Months or Longer |  | Total
in millions | Fair Value | Gross Unrealized Losses |  | Fair Value | Gross Unrealized Losses |  | Fair Value | Gross Unrealized Losses
March 31, 2021 |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
U.S Treasury, agencies, and corporations | $ | 4,488 |  | $ | 13 |  |  | — |  | — |  |  | $ | 4,488 |  | $ | 13 |
Agency residential collateralized mortgage obligations | 5,401 |  | 219 |  |  | — |  | — |  |  | 5,401 |  | 219 |
Agency residential mortgage-backed securities | 2,930 |  | 49 |  |  | $ | 7 |  | — |  | (a) | 2,937 |  | 49 |
Agency commercial mortgage-backed securities | 5,194 |  | 394 |  |  | — |  | — |  |  | 5,194 |  | 394 |
Other securities | — |  | — |  |  | 1 |  | — |  |  | 1 |  | — |
Held-to-maturity securities: |  |  |  |  |  |  |  |
Agency residential collateralized mortgage obligations | — |  | — |  |  | 20 |  | — |  | (a) | 20 |  | — |
Asset-backed securities | 9 |  | — |  | (a) | — |  | — |  |  | 9 |  | — |
Other securities | 3 |  | — |  | (a) | — |  | — |  |  | 3 |  | — |
Total securities in an unrealized loss position | $ | 18,025 |  | $ | 675 |  |  | $ | 28 |  | — |  |  | $ | 18,053 |  | $ | 675 |
December 31, 2020 |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
U.S. Treasury, agencies, and corporations | — |  | — |  |  | — |  | — |  |  | — |  | — |
Agency residential collateralized mortgage obligations | $ | 2,110 |  | $ | 25 |  |  | $ | — |  | $ | — |  |  | $ | 2,110 |  | $ | 25 |
Agency residential mortgage-backed securities | 6 |  | — |  | (b) | 5 |  | — |  | (b) | 11 |  | — |
Agency commercial mortgage-backed securities | 2,709 |  | 33 |  |  | — |  | — |  |  | 2,709 |  | 33 |
Held-to-maturity securities: |  |  |  |  |  |  |  |
Agency residential collateralized mortgage obligations | — |  | — |  |  | 24 |  | — |  | (b) | 24 |  | — |
Asset-backed securities | — |  | — |  |  | — |  | — |  |  | — |  | — |
Other securities | 5 |  | — |  | (b) | — |  | — |  |  | 5 |  | — |
Total securities in an unrealized loss position | $ | 4,830 |  | $ | 58 |  |  | $ | 29 |  | — |  |  | $ | 4,859 |  | $ | 58 |
(a)At March 31, 2021, gross unrealized losses totaled less than $1 million for asset-backed securities and other securities held-to-maturity with a loss duration of less than 12 months. At March 31, 2021, gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration greater than 12 months or longer and less than $1 million for agency residential collateralized mortgage obligations held-to-maturity with a loss duration greater than 12 months or longer. (b)At December 31, 2020, gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration of less than 12 months and less than $1 million for other securities held-to-maturity with a loss duration of less than 12 months. At December 31, 2020, gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration greater than 12 months or longer and less than $1 million for agency residential collateralized mortgage obligations held to maturity with a loss duration greater than 12 months or longer.
Securities by Maturity | The following table shows our securities by remaining maturity. CMOs and other mortgage-backed securities in the available for sale portfolio and held-to-maturity portfolio are presented based on their expected average lives. The remaining securities, in both the available-for-sale and held-to-maturity portfolios, are presented based on their remaining contractual maturity. Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties.
March 31, 2021 | Securities Available for Sale | Held to Maturity Securities
in millions | Amortized Cost | Fair Value | Amortized Cost | Fair Value
Due in one year or less | $ | 896 |  | $ | 903 |  | $ | 84 |  | $ | 84 |
Due after one through five years | 21,029 |  | 21,233 |  | 4,603 |  | 4,771 |
Due after five through ten years | 8,440 |  | 8,397 |  | 2,170 |  | 2,304 |
Due after ten years | 3,638 |  | 3,390 |  | — |  | — |
Total | $ | 34,003 |  | $ | 33,923 |  | $ | 6,857 |  | $ | 7,159 |

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration