XML 57 R42.htm IDEA: XBRL DOCUMENT
v3.26.1

Derivative Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following tables reflect the notional amounts and fair values for all derivative instruments included in the Condensed Consolidated Balance Sheets as of:
|  | Fair Value
June 30, 2026 ($ in millions) | Notional Amount | Derivative Assets | Derivative Liabilities
Derivatives Designated as Qualifying Hedging Instruments: |  |  |
Fair value hedges: |  |  |
Interest rate swaps related to long-term debt | $ | 7,314 |  | 1 |  | 17 |
Total fair value hedges |  | 1 |  | 17 |
Cash flow hedges: |  |  |
Interest rate swaps related to C&I loans | 7,850 |  | — |  | — |
Interest rate swaps related to C&I loans - forward starting(a) | 2,000 |  | — |  | — |
Interest rate swaps related to commercial mortgage and commercial construction loans | 4,000 |  | 1 |  | — |
Total cash flow hedges |  | 1 |  | — |
Total derivatives designated as qualifying hedging instruments |  | 2 |  | 17 |
Derivatives Not Designated as Qualifying Hedging Instruments: |  |  |
Free-standing derivatives – risk management and other business purposes: |  |  |
Interest rate contracts related to residential MSR portfolio | 4,880 |  | 7 |  | 1 |
Forward contracts related to residential mortgage loans measured at fair value(b) | 1,021 |  | 2 |  | 3 |
Swap associated with the sale of Visa, Inc. Class B Shares | 2,335 |  | — |  | 70 |
Foreign exchange contracts | 493 |  | 19 |  | — |
Other | 82 |  | — |  | — |
Total free-standing derivatives – risk management and other business purposes |  | 28 |  | 74 |
Free-standing derivatives – customer accommodation: |  |  |
Interest rate contracts(c) | 103,146 |  | 601 |  | 781 |
Interest rate lock commitments | 418 |  | 7 |  | — |
Commodity contracts | 31,815 |  | 1,356 |  | 1,357 |
TBA securities | 30 |  | — |  | — |
Foreign exchange contracts | 22,698 |  | 484 |  | 437 |
Total free-standing derivatives – customer accommodation |  | 2,448 |  | 2,575 |
Total derivatives not designated as qualifying hedging instruments |  | 2,476 |  | 2,649 |
Total |  | $ | 2,478 |  | 2,666 |
(a)Forward starting swaps will become effective in December 2026. (b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value. (c)Derivative assets and liabilities are presented net of variation margin of $263 and $39, respectively.
|  | Fair Value
December 31, 2025 ($ in millions) | Notional Amount | Derivative Assets | Derivative Liabilities
Derivatives Designated as Qualifying Hedging Instruments: |  |  |
Fair value hedges: |  |  |
Interest rate swaps related to long-term debt | $ | 4,205 |  | 1 |  | — |
Total fair value hedges |  | 1 |  | — |
Cash flow hedges: |  |  |
Interest rate swaps related to C&I loans | 6,850 |  | 5 |  | — |
Interest rate swaps related to commercial mortgage and commercial construction loans | 4,000 |  | 2 |  | — |
Total cash flow hedges |  | 7 |  | — |
Total derivatives designated as qualifying hedging instruments |  | 8 |  | — |
Derivatives Not Designated as Qualifying Hedging Instruments: |  |  |
Free-standing derivatives – risk management and other business purposes: |  |  |
Interest rate contracts related to MSR portfolio | 4,275 |  | 6 |  | 1 |
Forward contracts related to residential mortgage loans measured at fair value(a) | 1,072 |  | 1 |  | 3 |
Swap associated with the sale of Visa, Inc. Class B Shares | 2,678 |  | — |  | 124 |
Foreign exchange contracts | 150 |  | — |  | 2 |
Other | 82 |  | — |  | — |
Total free-standing derivatives – risk management and other business purposes |  | 7 |  | 130 |
Free-standing derivatives – customer accommodation: |  |  |
Interest rate contracts(b) | 82,901 |  | 443 |  | 540 |
Interest rate lock commitments | 317 |  | 5 |  | — |
Commodity contracts | 16,945 |  | 746 |  | 738 |
TBA securities | 31 |  | — |  | — |
Foreign exchange contracts | 26,166 |  | 659 |  | 626 |
Total free-standing derivatives – customer accommodation |  | 1,853 |  | 1,904 |
Total derivatives not designated as qualifying hedging instruments |  | 1,860 |  | 2,034 |
Total |  | $ | 1,868 |  | 2,034 |
(a)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value. (b)Derivative assets and liabilities are presented net of variation margin of $120 and $29, respectively.
Net Gains (Losses) Recognized in the Income Statement Related to Derivatives in Fair Value Hedging Relationships | The following table reflects the changes in fair value of interest rate contracts, designated as fair value hedges and the changes in fair value of the related hedged items attributable to the risk being hedged, as well as the line items in the Condensed Consolidated Statements of Income in which the corresponding gains or losses are recorded:
| Condensed Consolidated Statements of Income Caption | For the three months ended June 30, |  | For the six months ended June 30,
($ in millions) | 2026 | 2025 |  | 2026 | 2025
Long-term debt: |  |  |  |  |  |
Change in fair value of interest rate swaps hedging long-term debt | Interest on long-term debt | $ | (45) |  | 37 |  |  | (64) |  | 105 |
Change in fair value of hedged long-term debt attributable to the risk being hedged | Interest on long-term debt | 45 |  | (37) |  |  | 65 |  | (105) |
The following amounts were recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of:
($ in millions) | Condensed Consolidated Balance Sheets Caption | June 30, 2026 | December 31, 2025
Long-term debt: |  |  |
Carrying amount of the hedged items | Long-term debt | $ | 7,280 |  | 4,204 |
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items | Long-term debt | (55) |  | 10 |
Available-for-sale debt and other securities: |  |  |
Cumulative amount of fair value hedging adjustments remaining for hedged items for which hedge accounting has been discontinued | Available-for-sale debt and other securities | (7) |  | (7) |
Net Gains (Losses) Relating to Derivative Instruments Designated as Cash Flow Hedges | The following table presents the pre-tax net (losses) gains recorded in the Condensed Consolidated Statements of Income and in the Condensed Consolidated Statements of Comprehensive Income relating to derivative instruments designated as cash flow hedges:
| For the three months ended June 30, |  | For the six months ended June 30,
($ in millions) | 2026 | 2025 |  | 2026 | 2025
Amount of pre-tax net (losses) gains recognized in OCI | $ | (118) |  | 144 |  |  | (199) |  | 399 |
Amount of pre-tax net losses reclassified from OCI into net income | (21) |  | (50) |  |  | (42) |  | (105) |
Schedule of Price Risk Derivatives | The net gains (losses) recorded in the Condensed Consolidated Statements of Income relating to free-standing derivative instruments used for risk management and other business purposes are summarized in the following table:
| Condensed Consolidated Statements of Income Caption | For the three months ended June 30, |  | For the six months ended June 30,
($ in millions) | 2026 | 2025 |  | 2026 | 2025
Interest rate contracts: |  |  |  |  |  |
Interest rate contracts related to residential MSR portfolio | Mortgage banking net revenue | $ | (17) |  | 13 |  |  | (28) |  | 32 |
Forward contracts related to residential mortgage loans measured at fair value | Mortgage banking net revenue | — |  | (3) |  |  | 9 |  | (12) |
Foreign exchange contracts: |  |  |  |  |  |
Foreign exchange contracts for risk management purposes | Other noninterest income | 12 |  | (6) |  |  | 22 |  | (5) |
Equity contracts: |  |  |  |  |  |
Swap associated with sale of Visa, Inc. Class B Shares | Other noninterest income | (1) |  | (1) |  |  | 7 |  | (19) |
Net Gains (Losses) Recognized in the Income Statement Related to Free-Standing Derivative Instruments Used For Customer Accommodation | The net gains (losses) recorded in the Condensed Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:
| Condensed Consolidated Statements of Income Caption | For the three months ended June 30, |  | For the six months ended June 30,
($ in millions) | 2026 | 2025 |  | 2026 | 2025
Interest rate contracts: |  |  |  |  |  |
Interest rate contracts for customers (contract revenue) | Capital market fees | $ | 15 |  | 7 |  |  | 25 |  | 15 |
Interest rate contracts for customers (credit portion of fair value adjustment) | Other noninterest expense | 2 |  | (1) |  |  | 3 |  | (4) |
Interest rate lock commitments | Mortgage banking net revenue | 17 |  | 12 |  |  | 32 |  | 26 |
Commodity contracts: |  |  |  |  |  |
Commodity contracts for customers (contract revenue) | Capital market fees | 9 |  | 4 |  |  | 21 |  | 10 |
Commodity contracts for customers (credit portion of fair value adjustment) | Other noninterest expense | 4 |  | — |  |  | (1) |  | — |
Foreign exchange contracts: |  |  |  |  |  |
Foreign exchange contracts for customers (contract revenue) | Capital market fees | 28 |  | 19 |  |  | 55 |  | 38 |
Foreign exchange contracts for customers (contract revenue) | Other noninterest income | 1 |  | (23) |  |  | 5 |  | (33) |
Offsetting Derivative Financial Instruments | The following table provides a summary of offsetting derivative financial instruments:
| Gross Amount Recognized in the Condensed Consolidated Balance Sheets(a) | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets |
| Derivatives | Collateral(b) | Net Amount
As of June 30, 2026 |  |  |  |
Derivative assets | $ | 2,471 |  | (1,118) |  | (234) |  | 1,119 |
Derivative liabilities | 2,666 |  | (1,118) |  | (79) |  | 1,469 |
As of December 31, 2025 |  |  |  |
Derivative assets | $ | 1,863 |  | (959) |  | (261) |  | 643 |
Derivative liabilities | 2,034 |  | (959) |  | (142) |  | 933 |
(a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements. (b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Condensed Consolidated Balance Sheets were excluded from this table.

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

X
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfCashFlowHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of price risk derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfPriceRiskDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration